Own Damage Car Insurance

Know why you should consider buying a standalone own damage car insurance policy.
Own Damage Car Insurance
3 mins

Own damage car insurance policy, as the name suggests, is a policy that covers loss or damage caused to the insured car. It is a standalone insurance policy and is optional to buy for car owners in India, unlike a third-party insurance policy. However, a third-party car insurance policy covers only the third-party liabilities. It does not cover the damages caused to your vehicle in case of accidents. So, with a third-party insurance policy, you will have to spend the repair costs of your damaged vehicle from pocket. You can save the money if you opt for an own damage insurance policy.

An own damage car insurance policy covers accidental damages. Also, damages caused due to other events, such as natural calamities and man-made disasters. Read on to know in-depth about the various coverages offered by your own damage insurance policy and how it can be beneficial for you.

What is the meaning of own damage insurance policy?

Own damage car insurance policy covers damages caused due to accidents and natural disasters. It covers damages caused from earthquakes, floods, or storms. Also, covers man-made incidents such as riots, vandalism, or terrorist attacks.

Features of own damage car insurance policy

Here are some of the key features of an own damage car insurance:

Key features


Cashless repairs

6,500+ cashless network garages

No Claim Bonus

Discount of up to 50%

Claim process

Quick and streamlined

Claim settlement ratio

98% claims settled*



Voluntary deductible



Zero, 100% digital

Benefits of own damage car insurance policy

Here are the key advantages of having an own damage insurance:

1. Flexibility

You can buy a standalone own damage car insurance policy along with a third-party car insurance policy. An own damage insurance policy also allows you to opt for add-ons to enhance the policy coverage.

2. Affordability

Own damage car insurance is affordable and feasible for individuals who cannot afford to pay high premiums upfront. Additionally, the policy is annually renewable, reducing the financial stress on the policyholder.

3. Add-ons available

Following are some of the common add-on covers available to enhance your own damage car insurance policy:

Consumable cover

Covers the cost of damaged consumable items, such as oil, grease, nuts, and bolts, etc. due to an accident.

Zero depreciation cover

Accounts for the decreased value of the car parts due to depreciation and adjusts the cover accordingly.

Engine protection cover

Covers the cost of repairing or replacing the engine in case of damage.

NCB protection cover

Offers a No Claim Bonus (NCB) during policy renewal even if you claim the policy.

Lock and key protect cover

Covers the cost of replacing the car keys and locks if lost or damaged.

Roadside assistance cover

Provides help in case of a breakdown, flat tyre, running out of fuel, etc.

Steps to raise an own damage car insurance claim

Follow the below steps to file a claim for an own damage car insurance:

Step 1: Notify your insurance provider of the damage sustained by your insured vehicle.

Step 2: Upon notification, insurance providers will send surveyors to assess the damage to your car.

Step 3: You will need to provide relevant documents for claim verification.

Step 4: Get your car delivered to a garage for servicing and repairs.

Step 5: If you choose to claim for a cashless facility, the insurance company will settle the bills with the network garage. In case of a reimbursement claim, get the car repaired at any of your preferred garages. After which, submit the bill to the insurer for reimbursement. The insurer will transfer the money to the registered bank account.

How is own damage car insurance different from third-party and comprehensive insurance?

Given below are the key points of difference between own damage, third-party, and comprehensive car insurance:


Own damage car insurance

Third-party car insurance

Comprehensive car insurance


Covers damage to your vehicle due to accidents, theft, fire, etc.

Only third-party liability for damage and injury.

Combines third-party liability and own damage coverage.

Damage to your vehicle

Covers damage to your own vehicle.

Does not cover damage to your own vehicle.

Covers damage to your own vehicle.

Injuries to you

Usually does not cover personal injuries. Separate coverage may be required.

Does not cover injuries to you.

Covers injuries to you and your co-passengers.

Damage to third parties

Does not cover damage to third parties.

Covers damage to third parties' vehicles and property.

Covers damage to third parties' vehicles and property.


More expensive than third-party insurance.

Generally, the most affordable option.

More expensive than third-party but provides the highest level of protection.

Documents required for own damage car insurance claim

To raise a claim against your policy, you need to submit the following documents:

1. Accident claims

Submit the following paperwork to file an accident claim:

● Duly filled claim form with signature
● Tax receipts
● Police FIR copy
● Driver’s driving licence (DL)
● Vehicle registration certificate's copy (RC)
● Insurance policy copy
● Payment receipts and original repair invoices
● Anticipated vehicle repair bill
● Address of the garage or vehicle inspection site

2. Car theft claims

You need to submit the following documents to raise a theft claim request:

● Insurance policy copy
● Copy of police FIR
● RTO theft declaration
● Original vehicle registration book
● Subrogation letter
● Receipts for tax payments
● Forms 35, 30, 29, and 28
● Items such as pamphlets, duplicate keys, warranty cards, etc.
● Past policy details such as insurance firm name, tenure, and time of purchasing insurance
● Obtain a claim discharge certificate and sign it

3. Third-party claims

The below-mentioned documents are necessary to file third-party claims:

● Duly filled and signed claim form
● Registration Certificate (RC) copy
● Police FIR copy
● Driver’s licence (DL) copy
● Stamped original paperwork in case of company-registered cars

Although having an own damage car insurance policy is optional, it is an important insurance coverage for your car. It ensures you are financially covered to repair or replace any damages caused to your vehicle.

Below are policies and its details offered on Bajaj Finance Insurance Mall:

Car insurance company

Network garages

Third-party cover

Personal accident cover

Claim settlement ratio

ACKO Car Insurance



15 lakh


Bajaj Allianz Car Insurance



15 lakh


SBI General Car Insurance



15 lakh


ICICI Car Insurance



15 lakh


HDFC Car Insurance



15 lakh


TATA AIG Car Insurance



15 lakh


How to buy own damage car insurance policy online?

To buy own damage car insurance online in a few simple steps:

Research: Visit a trusted insurance website or comparison platform. You can choose from various plans available at the Bajaj Finance Insurance Mall.

Vehicle information: After choosing the insurance provider, provide your car's details, including make, model, and year.

Choose coverage: Select own damage coverage.

Calculate premium: Input your preferences and the platform will generate a premium quote.

Personal details: Enter your personal information.

Payment: Choose a payment method and complete the transaction.

Policy receipt: Receive your policy documents via email.

This hassle-free process ensures your vehicle is protected against various risks.

For enhanced coverage, you can also choose to buy a comprehensive car insurance policy. It covers both own damages and third-party liabilities. Bajaj Finance, along with leading insurance companies, offers a range of comprehensive car insurance policies. Visit the Bajaj Finance Insurance Mall to view the policies and buy now.

Frequently asked questions

Is own damage insurance necessary?

Yes, own damage insurance is necessary to get coverage for your own vehicle against damages caused by collisions, theft, fire, natural disasters, and more. It is not mandatory but is highly recommended.

Can we buy our own damage car insurance?

Yes, you can buy your own damage car insurance as an optional coverage in a comprehensive motor insurance policy. However, it is highly recommended to have this coverage as it can protect you financially in case of any unforeseen circumstances.

What is a standalone policy in motor insurance?

A standalone policy in motor insurance refers to a policy that covers only one specific aspect of your vehicle, such as own damage or third-party liability. This type of policy can be useful for those who already have a comprehensive motor insurance policy and want to supplement their coverage or want to only cover a specific risk. Standalone policies are also generally cheaper than comprehensive policies.


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