Long-term third-party car insurance is mandatory for all private car owners in the country. But is it sufficient to cover the unforeseen damages suffered by your vehicle? Probably not.
Third-party motor insurance only covers your third-party liabilities. This is where having a standalone own damage private car policy becomes very important.
When bought together, a standalone own damage private car policy and a liability-only policy provide you with a comprehensive coverage that not includes third-party damages but also the damages suffered by your vehicle.
Read on to find out more about standalone own damage private car policy, including its features and benefits.
What is a Standalone Own Damage Private Car Policy?
A standalone own damage private car policy is a type of motor insurance that offers dedicated financial coverage for damages and losses incurred to the insured vehicle.
It helps you cover hefty repair/replacement expenses resulting from unforeseen events such as theft, natural calamities, man-made disasters, fire, accidents and more.
Since it does not offer third-party coverage, you have to buy a separate third-insurance car policy to meet the legal requirements.
Also Read: Private Car Vs Commercial Car
Inclusions and Exclusions of Standalone Own Damage Private Car Policy
Inclusions and exclusions of a standalone own damage private car policy vary from one plan to another. Here are the same for Reliance SAOD car insurance:
Inclusions of Private Car Insurance (Standalone Own Damage Insurance)
- Accidental damages
- Natural disasters such as earthquakes, floods, thunderstorms, etc.
- Theft
- Fire, self-ignition and explosions
- Man-made disasters such as vandalism, strikes, riots, etc.
Exclusions of Private Car Insurance (Standalone Own Damage Insurance)
- Third-party/property damages
- Regular wear and tear to the insured car
- Electrical and/or mechanical failure
- Damage while driving without a driving licence
- Damage due to violation of any traffic regulations
- Damage/loss due to nuclear attacks or war
- Damage while driving in a drunken state
- Any self-inflicted damages
Features and Benefits of Standalone Own Damage Private Car Insurance
Coverage for Own Damage
The standalone own-damage car insurance plans offer exclusive financial coverage for your insured vehicle. As discussed above, they cover a wide array of unprecedented car damages and losses you experience.
Cashless Repairs
The standalone own damage pvt car insurance plans from the majority of insurance providers offer cashless repair facilities at their network garages. At RGI, We have more than 10,000 network facilities where you can get your vehicle repaired without paying a huge sum of money out of your pockets.
We will cover a major portion of your expenses and settle your cashless claim directly with the empanelled network facility.
Add-ons for Enhanced Coverage
Another added advantage of having own damage car insurance is that you can customise it and get the desired coverage by purchasing various add-one. These are paid covers that you can purchase with your existing policy to enhance its coverage.
Some of the most popular add-ons you can buy with your private car package policy/own damage insurance at RGI include Nil Insurance Cover, Motor Secure Plus Cover, No Claims Bonus Retention Cover, Consumables Cover and many more.
Cost-effective
Stand alone own damage private car policy is a great option for those who don't have the budget to invest in comprehensive car insurance which is often costly. You can easily purchase a stand alone own damage policy along with the mandatory third-party insurance without exceeding your budget.
If you want to estimate your car insurance premiums before finalising a plan, utilise our
car insurance premium calculator.
No-claims Bonus
A no-claims bonus is a useful reward that helps lower your premiums by availing excellent NCB discounts during your policy renewal. This benefit is offered when you don't make any claim during your policy tenure. With Reliance General Own Damage Car Insurance, you can avail of up to 50% NCB discount for each claim-free year. You can use this discount at the time of renewing your plan.
Is Own Damage Car Insurance Right for You?
Standalone own damage insurance is a must have with your third-party insurance plan. It offers the necessary financial coverage to your vehicle in the unforeseen events such as accidents, natural calamities, theft and others.
If you are on budget and already have a third-party car policy, then standalone own damage insurance is a great choice for you. However, consider getting a comprehensive car insurance policy if you are looking for broad coverage and don't want to invest in two separate policies for your own damage and third-party liabilities.
Get Impressive Discounts on Buying Reliance Own Damage Car Insurance Online
Your search for comprehensive yet affordable own damage car insurance ends at Reliance General Insurance.
Our OD car insurance plans cover a wide range of unforeseen natural and man-made damages and losses sustained by your car. These include damage due to accidents, natural calamities like earthquakes, floods, etc., and man-made damages such as vandalism, theft and more.
Further, our
car insurance plans are also bundled with benefits such as 100% claims settlement, online claims processing, up to 50% no-claims bonus on each claim free year and cashless vehicle repairs at 10,000+ garages across the country.
Purchase your insurance online and enjoy excellent discounts on your policy premiums!
Frequently Asked Questions
What is the private car insurance price?
The cost of your car insurance is calculated based on factors such as type of car, type of coverage, engine capacity, type of policy and its tenure as well as your driving history and location. You can use an online car insurance premium calculator to estimate your pvt car insurance price.
Is insurance compulsory for a private car?
Yes. Motor insurance is mandatory for all motor vehicles, both private and commercial alike. As per the Motor Vehicles Amendment Act, every motor vehicle should be insured with at least long-term third-party insurance.
But since it only covers third-party damages, it is highly recommended to get either comprehensive car insurance or purchase a standalone own damage cover with your third-party policy.
Can I buy a standalone own damage cover for private car?
Yes. You can definitely invest in a standalone own damage cover with your existing third-party insurance plan.
Alternatively, you can also buy a single comprehensive car insurance policy instead of separate coverage for third-party and own damages.