Own Damage Bike Insurance

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Manasvi Gupta

Written By:

Manasvi Gupta

Manasvi Gupta

Manasvi Gupta

Content Writer

Storyteller at heart, Manasvi brings 4 years of content and marketing experience to Digit. Whether it's writing SEO-optimised articles or a researched and insightful blog, she strives to transform ideas into creating impactful and engaging content.

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Manasvi Gupta

Manasvi Gupta

Content Writer

Storyteller at heart, Manasvi brings 4 years of content and marketing experience to Digit. Whether it's writing SEO-optimised articles or a researched and insightful blog, she strives to transform ideas into creating impactful and engaging content.

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Reviewed By:

Mayur Kacholiya

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Mayur Kacholiya

Product Head - Motor

Mayur specializes in motor insurance and is responsible for overseeing the development and management of motor insurance products. With expertise in product strategy and market analysis, he focuses on developing customer-centric insurance solutions.

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mayur-black-white-test

Mayur Kacholiya

Product Head - Motor

Mayur specializes in motor insurance and is responsible for overseeing the development and management of motor insurance products. With expertise in product strategy and market analysis, he focuses on developing customer-centric insurance solutions.

Own Damage Insurance for Bike/Two Wheelers Online

Get Standalone Own Damage Insurance by Digit and secure your two-wheeler and yourself against damage or loss due to accidents, theft, or natural calamities. 

Own Damage Insurance two-wheeler protects your own bike from damage or loss. Know everything about Own Damage bike insurance to make an informed choice!

Table of Contents

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What is Own Damage Insurance for Bike?

Own Damage Insurance for Bike

What is Own Damage Insurance for Bike?

  • Own Damage Bike Insurance refers to a standalone bike insurance policy that only covers your own two-wheeler against damages and losses. The same could arise due to an accident, collision, natural calamity or even a fire. 
  • Having Standalone OD insurance for bike is optional in India and is often included as part of a comprehensive bike insurance policy, but it can also be purchased separately if you already have an active third-party bike insurance policy for additional coverage.

How Does Own Damage Bike Insurance Work?

Select the Policy

Select own damage two-wheeler insurance policy and desired add-ons that fit your needs and budget.

Buy or Renew Policy

Purchase or renew your bike insurance online instantly with Digit, with minimal paperwork.

Pay Premium

Make regular payments (annually or in installments) based on factors like bike’s age, model, IDV, NCB, and coverage type.

File a Claim

If your bike is stolen or damaged in an accident, you can file a claim with your insurer, who after damage assessment will settle the claim as per the policy terms.

Why was Own Damage Bike Insurance Introduced?

Why was Own Damage Bike Insurance Introduced?

  • For a long time, there have only been two types of bike insurance policies. However, in September 2019, IRDAI introduced OD insurance for bike as a standalone policy to help people cover their own bike’s damages and losses. However, remember that this is only applicable if you already have Third-Party Bike Insurance in place.
  • The policy was introduced as standalone to provide additional coverage to one’s own vehicle and injuries, as a Third-Party Policy did not cover one’s own damages and injuries, which was a major issue.

What are the Benefits of Standalone OD Bike Insurance?

Benefits of Standalone OD Bike Insurance

What are the Benefits of Standalone OD Bike Insurance?

Standalone OD in bike insurance offers several key benefits to bike owners such as:

 

  • Protection Against Own Damages: OD bike insurance covers damage to your bike, ensuring repair costs are covered if your bike is damaged or lost due to natural calamities, theft, fire, or accidents.
  • Add-on Options: Enhance your bike’s protection with add-ons like zero depreciation, engine and gearbox protection, and personal accident cover.
  • No Claim Bonus (NCB): With OD bike insurance, you can enjoy the benefits of NCB, which rewards you for your safe driving by giving you a discount on bike insurance own damage premium for the previous claim-free years.
  • Affordable and Flexible: Own Damage insurance for bike is an affordable insurance plan that provides flexibility and comprehensive protection for you and your bike. 

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Why Should You Buy Own Damage Bike Insurance by Digit?

Your OD bike insurance not only comes with a super easy claim process, but also with the option to choose a cashless settlement

Cashless Repairs

Cashless Repairs

9000+ Cashless Network Garages for you to choose from across India

Smartphone-Enabled Self Inspection

Smartphone-Enabled Self Inspection

Quick and paperless claims through Smartphone enabled processes that make you go "That's it?"

Super-fast Claims

Super-Fast Claims

We’ve settled 96% of all two-wheeler claims! Experience claims that make you go “that’s it?”

Customize your Vehicle IDV

Customize Your Vehicle IDV

With us, you can customize your vehicle IDV as per your choice!

24*7 Support

24*7 Support

24*7 call facility even on National Holidays

Complimentary Wellness Benefits

Get exclusive wellness benefits on the Digit App offered by top-rated health and wellness partners.

Digit Bike Insurance in News

What Our Customers Have to Say about Us

4.7/5

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(250K + Customer Ratings)

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quote 6 Dec 2024
a great pleasure to be affiliated with you , Had met an accident and got the damaged parts replaced within a day after raising the claim . Thank You
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Shaaz Suhail Salafi

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quote 13 Dec 2024
Very good service. Within two minutes i renew my vehicle insurance online.
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Ajay Bharade

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quote 13 Dec 2024
Dear For todays world If any One wants to open a fresh Vehicle Insurance Policy which has all the transparency users frndly Plus the staff is very cooperative hats off. Wishing God bless for all yr future Endeavor 's. Sr Citizen-Policy-Investor
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DinShaw Sahukar

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quote 20 Dec 2024
Quick reaction on Road side assistance and continuous follow up till resolution. Happy with assistance in late night hours.
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Abhishek Sharma

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quote 13 Aug 2024
I had issue with the motor insurance policy and wanted to upgrade it. The customer care executive had enough patients to explain me everything point to point. Thanks a lot Sudip.
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Pratheesh R

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What is Covered in OD Insurance for Bike?

Damages to your Bike in an accident

Damages to your Bike in an accident

Covers for damages and losses caused to your bike during accidents.

Theft of your Two-Wheeler

Theft of your Two-Wheeler

Covers for losses in case your bike is unfortunately stolen.

Damages due to a Fire

Damages due to a Fire

Covers your bike in a situation where your bike is damaged due to a fire.

Damages to your Bike due to a natural calamity

Damages to your Bike due to a natural calamity

Covers for damages to your bike in case of any natural calamity.

Add-On Covers with Digit Own Damage Two-Wheeler Insurance

Two-wheeler insurance add-ons which you can buy with your Own Damage Two Wheeler insurance policy

Daily Conveyance Benefit

Daily Conveyance Benefit

The add-on cover of daily conveyance benefit will ensure that you are compensated for your transportation cost during the period when two-wheeler is under repair subject to applicable time excess. A policyholder can be compensated in the form of fixed allowance per day or coupons from taxi operators from an amount equal to per day fixed allowance.

Engine & Gear-box Protection Cover

Engine & Gear-box Protection Cover

Do you know that the cost of replacing your engine is approximately 40% of its cost? In a standard two-wheeler insurance policy, only damages caused during the accident are covered. However, with the engine and gear-box protection add-on cover, you can specifically cover the life of your vehicle for any consequential damages caused post the accident.

Tyre Protect

Tyre Protect

The tyre protect add-on cover is offered only to vehicles fitted with run flat technology. As part of it, the cost of replacing damaged tyres with equivalent or near equivalent to the one being used in the vehicle, labour and wheel balancing charges can be reimbursed. However, claims made under the add-on cover is subject to conditions set forth under the vehicle insurance policy.

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Consumable Cover

The add-on of consumable cover adds an additional shield to your two-wheeler. Covers the cost for all your bike’s nitty-gritties such as the engine oils, screws, nuts and bolts, grease, etc. in the event of an accident.

Return to Invoice Cover

Return to Invoice Cover

If you fall into a situation where your bike is stolen or damages beyond repair, this add-on comes in handy. With return to invoice add-on, we will cover the costs of getting you the same, or similar bike- including the road tax and registration fees for the same

EV Shield Add-on Cover

EV Shield Add-on Cover

This EV Shield add-on cover for electric two wheeler in India will protect you and your vehicle against any loss or damage to the electrical panel for the vehicle charging point, vehicle charger including charging cable, and offer roadside assistance services specific to EVs.

Zero Depreciation Cover

Zero Depreciation Cover

Think of it like an effective anti-ageing cream for your bike and its parts. Usually, the required depreciation amount is always taken in account during claims. However, a zero-depreciation cover ensures no depreciation is taken into consideration, so you get the full value of the cost of repair/replacement during claims.

Breakdown Assistance

Breakdown Assistance

The roadside assistance add-on ensures we’ll always be there for you and your two-wheeler in case of any breakdowns. The best part? Asking for our help doesn’t even count as a claim.

What’s not covered?

While an Own Damage cover is great for your bike’s overall protection, here are some things that won’t be covered.

Third-Party Liabilities

Third-Party Liabilities

A standalone Own Damage Bike Insurance only covers for losses to your own bike, and won’t cover for third-party losses. Your third-party bike insurance will take care of the same.

Contributory Negligence

Contributory Negligence

This means your bike won’t be covered if you’ve done something you weren’t supposed to do. For example; if your city has been flooding and you still took your bike out which ultimately led to its damages!

Driving Without a Valid Licence or Licence Holder

Driving Without a Valid Licence or Licence Holder

If you're riding without a valid two-wheeler licence, or if you have a learner’s licence but no permanent licence holder riding pillion, you're considered to be driving illegally, and your Own Damage (OD) claim will be rejected.

Add-Ons Not Bought

Add-Ons Not Bought

If you haven’t bought a particular add-on, you can’t claim for its benefits, obviously!

Consequential Damages

Consequential Damages

Unfortunately, your bike won’t be covered for damages that haven’t taken place during the accident.  

Driving Drunk

Driving Drunk

This isn't allowed by law, therefore your bike insurance claims won’t be covered if you were riding under the influence of alcohol. 

Types of Bike Insurance Plans in India

Here’s the difference between third-party, comprehensive, and own damage two-wheeler insurance policy in India:

Third-Party Bike Insurance Own Damages Bike Insurance Comprehensive Bike Insurance
A Third-Party Bike Insurance is the most basic form of bike insurance available. As per the Motor Vehicles Act, every bike owner must at least have a third-party bike insurance to ride legally.  An Own Damage Bike Insurance is a standalone bike insurance policy that solely covers the bike’s own damages and losses.  Put together both a third-party bike insurance and an own damage cover and you have comprehensive bike insurance. One that covers both damage to a third-party and your own bike too. 
It is mandatory by law to at least have a bike insurance that covers for third-party liabilities.  An Own Damage bike insurance isn’t mandatory by law, but is ultimately more useful for riders as it covers one’s own damages and losses.  A comprehensive bike insurance too isn’t mandatory but, is the best type of policy available as it covers for all possible situations. 
Every bike is eligible to buy a Third-Party Bike Insurance.  Only bikes with an existing Third-Party Bike Insurance can buy a standalone Own Damage Bike Insurance too.  Anyone with a bike is eligible to get a Comprehensive Bike Insurance policy. However, please note that since Comprehensive Bike Insurance covers everything, you don’t need to buy any another bike insurance policy. 
No add-ons are available with this policy.  Add-ons are available.  Add-ons are available. 

Third-party vs Comprehensive vs Own Damage Bike Insurance

Third-party plan

Comprehensive plan

Own Damage

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Who Should Get Own Damage Bike Insurance?

New Bike Owners

New Bike Rider

Luxury Bike Owner

If You Have Only Third-Party Policy

If You Live in Accident-Prone Areas

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Ravi, 27 Year Old Male

He just bought his first bike, a sleek commuter model for daily office travel. Understanding the risks of city traffic, he opted for a Standalone Own Damage insurance policy. This way, if his bike gets damaged in an accident or due to natural calamities, he won’t have to bear the repair costs alone. 
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Anita, 22 Year Old Female

She recently moved to a new city for work and started commuting on her new scooter. Since she’s still getting familiar with the local roads and traffic patterns, she chose to get Own Damage bike insurance. For her, it’s a smart way to stay financially protected against unexpected situations or minor mishaps while she settles into her new routine. 
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Karan, 35 Year Old Male

He owns a high-end superbike that turns heads wherever he goes. But he knows that even a small scratch can cost a fortune to fix. That’s why he has a Standalone Own Damage policy to protect his investment and avoid hefty repair bills in case of damage. 
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Meena, 30 Year Old Female

She initially bought only a Third-Party Bike Insurance policy because it was mandatory. But after a friend’s bike got damaged in a flood, she realised her own bike wasn’t protected. She then added a Standalone Own Damage cover to ensure her bike is financially protected from such incidents. 
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Imran, 40 Year Old Male

He lives in a densely populated city area with heavy traffic and frequent accidents. To safeguard his bike from potential damage, he chose an Own Damage Insurance policy. It helps him ride with confidence, knowing he’s covered even in risky zones. 

Note: These are just a few scenarios to help you easily understand the different policy covers. Please discuss with your insurer and advisor about the best policy for you. Remember to not take it as a recommendation from Digit.

How to Buy/Renew Own Damage Bike Insurance with Digit?

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Enter Bike Details

On the Digit App or website, enter bike’s registration number and select the policy status.

Choose the Plan

Select the standalone OD plan and choose desired add-ons.

Enter Personal Details

Enter your personal, nominee and vehicle details, and move to the next step.

Make Payment

Complete the payment and mandatory KYC verification process.

That's It!

You’ll receive the policy document via email, SMS and WhatsApp. Also, you can access it 24X7 on the Digit App.

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Login

Login to Digit App or website and go to the ‘My Policy’ section.

Select Policy

Select the policy pending for renewal and click on ‘Renew Policy.’

Choose the Plan

Next, select the add-ons and tenure and confirm the details, and move to the next step.

Make Payment

Complete the payment and mandatory KYC verification process.

That's It!

You’ll receive the policy document via email, SMS and WhatsApp. Also, you can access it 24X7 on the Digit App.

Documents Required to Buy Own Damage Bike Insurance Online

While buying a new standalone own damage two-wheeler insurance online from Digit, you don’t need a load of documents or paperwork; just keep the following documents handy:

Registration Certificate

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It is an official document issued by the Regional Transport Office (RTO) that proves your vehicle is legally registered under the Motor Vehicles Act. 

Previous Year Insurance Policy

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A Previous Year Insurance Policy refers to the two-wheeler insurance coverage you had for the previous policy term, typically valid for one year. It includes details like:

 

  • Policy Number: Unique ID of your old insurance plan.
  • Coverage Type: Whether it was third-party or comprehensive.
  • Insurer Details: The company that provided the coverage.
  • Policy Expiry Date: The date the previous insurance lapsed.
  • No Claim Bonus (NCB): A discount earned if no claims were made.

Documents for KYC Verification

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Inorder to buy a two-wheeler insurance policy online a KYC verification is needed for which various documnets such as your  PAN/Aadhar/DL/Voter ID/Form 16/Passport is required.

How to Download Your Digit Two-Wheeler Insurance Policy Document?

After purchasing a two-wheeler insurance policy, it is essential to download and keep a copy for future reference. With us, you do not need to carry hard copies of your insurance policy. You can simply download it from our app. 🙂 Follow these simple steps to download your policy document from the Digit website or app:

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Login Your Account

Visit the Digit website or app and click on ‘Login’ at the top-right corner. Enter your registered mobile number and verify with OTP.

Visit ‘Active Policies’

Once logged in, navigate to the Active/My Policies section. Here, you can check the policy number, end date & start date.

Download the Policy

Done! You can save, share, print or email the policy for future reference anytime, anywhere.

How to File & Track a Two-Wheeler Insurance Claim with Digit?

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Login

Open the Digit App and go to the "File Motor Claim" option. Login and you'll be directed to the "File Motor Claim" page. Click on the policy card to start claim filing.

Provide Details

Fill in all the details related to the accident and damage to the bike.

Enter Personal Details

Update your personal details and that's it, your claim is successfully filed, and you will receive the next steps on your email & WhatsApp.

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Login

Open the Digit App and go to the ‘Check Motor Claim Status’ option. Here you can see the complete list of claims filed on your phone number.

Select Claim

Select the claim you want to check the status of. You can see the details of the claim, the current status, timeline, detailed summary, and repairer details too.

What are the Factors Affecting Your OD Bike Insurance Premium?

Factors Affecting OD Bike Insurance Premium

What are the Factors Affecting Your OD Bike Insurance Premium?

In an Own Damage Bike Insurance policy, your bike premium is mainly calculated by your bike’s cc and your bike’s IDV. Apart from that, the following factors too are considered while calculating your Own Damages cover premium: 

 

  • IDV: Your IDV or Insured Declared Value refers to the right market value of your bike. Therefore, based your OD premium for your bike will heavily depend on this. So, if your bike’s IDV is higher, the premium will also be higher.
  • Bike’s cc: Your bike’s cc determines the speed and hence risk of your bike. Therefore, the cc of your bike too will affect your OD premium. The higher the cc, the higher the OD premium and vice versa.
  • Bike Make & Model: This goes without saying that the make and model of your bike will directly affect your OD premium. The more premium your bike, the higher will be its OD premium and vice versa.
  • Age of the Bike: The older your bike is, the lesser will be its OD premium and vice versa! Additionally, the RTO location of your two-wheeler or the city where you drive it also affects the OD premium. Driving in a metropolitan city with higher traffic and accident rate increases the premium.
  • No Claim Bonus: If you’ve previously had an Own Damage cover of Comprehensive Bike Insurance and haven’t made any claims yet, you can transfer your accumulated No Claim Bonus to get a discount on your current OD premium.
  • Add-ons Opted: Every add-on is different. Therefore, based on the type of add-on you choose and the number of add-ons you choose, your OD premium will be accordingly affected.

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How to Calculate Own Damage Bike Insurance Premium?

Here’s how to calculate the OD premium for two-wheeler:

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Provide Bike Details

Enter your bike’s registration number and select if your policy is expired or not.

Select the Policy

Select the Own Damage Policy, policy tenure and any required add-ons.

Check Premium

On the bottom-left of the page, you will be able to see your bike insurance premium amount.

What are the Tips to Reduce Your OD Bike Insurance Premium?

Reduce Your OD Bike Insurance Premium

What are the Tips to Reduce Your OD Bike Insurance Premium?

  • Increase Voluntary Deductibles: Voluntary Deductibles refer to the percentage of claims you choose to pay during claims. If you can, you could choose to increase the same which will directly reduce your OD premium. 

  • Declare Correct IDV: When you buy your OD cover with Digit, we let you customize your IDV instead of automatically doing it for you. With this, you can ensure the right IDV is stated as this will determine both your OD premium and the amount of money you can receive during claims.  

  • Don’t Forget to Transfer Your NCB: As mentioned earlier, you can get a discount on your OD premium with No Claim Bonus in bike insurance. Therefore, ensure you transfer the same while buying your OD policy.

FAQs about Own Damage Bike Insurance