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Have you ever needed coverage for your car to supplement the mandatory third-party car insurance? That’s where our SAOD Short-Term Car Insurance comes into the picture.
Our Standalone Own Damage (SAOD) short-term car insurance plans are cost-effective, efficient and offer broad coverage. Most importantly, you can customise your standalone car insurance by selecting your coverage duration and adjusting the level of coverage.
Our SAOD short-term auto insurance is a perfect solution if you are looking for a policy to purchase with your existing third-party insurance or simply don’t have the budget to invest in a long-term comprehensive car insurance policy.
Standalone Own Damage (SAOD) short-term car insurance is a type of insurance that offers financial coverage for the damages suffered by your insured four-wheeler.
Unlike third-party car insurance, which covers third-party liabilities, our SAOD short-term insurance is dedicated to covering your vehicle against unpredictable tragedies such as road accidents, natural calamities, theft, fire explosions, etc.
Our short-duration car insurance is perfect for car owners who want to have temporary coverage without investing in a long-term car policy. With this plan, you get the flexibility of choosing your coverage duration as per your requirements and budget.
Not only that, you can also adjust your coverage to meet your unique insurance requirements.
In essence, our SAOD short-duration car insurance is your #CarkaYaar, protecting your vehicle for the desired time without demanding a commitment to a long-term car insurance policy.
Let’s say you already have third-party car insurance, but you want to protect your car during an upcoming road trip for a week. At this point, you can instantly purchase our SAOD Short-Term Car Insurance instead of buying an additional comprehensive insurance plan.
Here is how short-period motor insurance works:
Once you have purchased a SAOD short-term plan, you can enjoy focused coverage designed only for your vehicle.
Our plans will keep your car protected against various mishaps that are likely to occur during your selected tenure. These include accidents, theft, natural disasters, vandalism, fire, and more.
You can raise a car insurance claim in case of an unforeseen tragedy, such as theft or a road accident. With a claim settlement ratio of 100%, we ensure a smooth and timely resolution for your claim.
A SAOD short-term car insurance policy offers targeted coverage for the insured car against covered events, such as accidents, fire, theft, and natural calamities.
With SAOD short-duration car insurance, you are not obligated to purchase a long-term car insurance policy, which is usually very costly.
SAOD short-term car insurance has a flexible coverage duration. Whether you need insurance for a week or a month, you can decide your policy tenure.
The premiums of SAOD short-term car insurance are generally lower than comprehensive policies due to their shorter tenures.
Because of their shorter tenure and straightforward coverage, short-term car insurance claims tend to get resolved faster than other insurance plans.
We offer a 100%* claims settlement ratio to ensure a smooth and quick settlement of your claims. By offering a timely resolution, we help you get your car back on the roads with minimal hassle.
We offer car insurance add-ons to ensure wide and dedicated coverage for your four-wheeler. From Zero Depreciation Cover and Engine Protection Cover to 24*7 Roadside Assistance, you can choose from a variety of add-ons.
Our SOAD short-term car insurance plans are completely customisable. By selecting your coverage type and policy tenure, you can enjoy excellent coverage that is worth every penny.
We have more than 10,000 cashless garages located across the country. In case of an unforeseen incident, you can get your vehicle repaired cashlessly at these facilities. We will directly settle your repair bill (except for the selected deductibles).
Reliance General Insurance is named among the company's most trustworthy insurance providers. By choosing our motor insurance plans, you can have peace of mind knowing your vehicle is financially protected by a reliable provider.
Our SAOD short-term car insurance plans cover expenses arising from unexpected damage to your insured vehicle.
Reliance General short-term car insurance plans cover damages arising from natural calamities such as floods, earthquakes, storms, landslides, etc.
Our SAOD temporary car insurance plans also offer coverage for damages arising from man-made disasters such as riots, strikes, vandalism, etc.
Our plans cover damages to your insured car caused by an unforeseen fire or related incident.
Our SAOD short-duration car insurance plans also cover the repair and replacement expenses incurred due to the theft of your insured vehicle.
Our SAOD short-term car insurance plans do not cover any kind of self-inflicted damage to your insured car.
Any damages to the insured vehicle due to illegal or irresponsible driving are not covered.
Our Standalone Own Damage cover does not cover the damages done to a third party or property by your insured vehicle.
Our short-term insurance plans do not cover any damage incurred to the insured vehicle due to war or a related situation.
Those who have recently purchased a car are among the common prospects of our SOAD short-term car insurance. You can purchase it with the mandatory third-party insurance.
Our SAOD short term auto insurance is an excellent risk mitigation solution if you live in an area prone to natural disasters such as flood, earthquake, etc.
If you don’t use your car throughout the year, then buying car insurance for the short term is highly recommended over a year long insurance plan.
Apart from the ones mentioned above, anyone who is looking to add an extra layer of protection to their vehicle can buy our SAOD short-term car insurance.
There is no right time to buy SAOD short-term car insurance. You can purchase it anytime you feel the requirement.
Here are some common scenarios when it is ideal to get SAOD short-term car insurance:
The best time to purchase SAOD short-term car insurance is when you purchase your vehicle. You can buy it with the mandatory three-year third-party insurance and ensure own-damage coverage for your vehicle.
It is highly recommended that you get SAOD short-term car insurance after your car has recently undergone major repair or maintenance work. This helps ensure your vehicle’s safety for an extended period.
You can get SAOD one-day insurance or more if you are planning to transport your car over long distances. It will help you cover the potential damages that may arise during the transit.
When preparing your car for a road trip, it is ideal to buy SAOD short-term car insurance plans. These plans will help cover potential mishaps that can arise during your journey.
SAOD short-term car insurance is also recommended to deal with seasonal damages to the insured car. You can purchase it to prepare against extreme weather conditions.
In case of total loss or damage of your insured four-wheeler, your insurance company agrees to reimburse your car value as per its IDV or Insured Declared Value.
In simple terms, IDV refers to the highest amount your insurance provider will give you. Note that this is the current market value of a car, which is calculated based on the make, model, age, depreciation rate and a few other factors.
Here is a depreciation schedule to calculate IDV, as per IRDAI:
Age of Insured Car
Rate of Depreciation
Below 6 months
5%
6 months to a year
15%
1 to 2 years
20%
2 to 3 years
30%
3 to 4 years
40%
4 to 5 years
50%
To help you a bit more, here is the formula to calculate the IDV of an insured car:
Insured Declared Value = Manufacturer’s Price - Depreciation Value
Begin by understanding your coverage requirements. Determine your coverage duration and areas of coverage.
Go to our website to buy car insurance online. At Reliance General Insurance, you can purchase SAOD short-term car insurance in a few simple steps.
Fill in your personal and vehicle details such as name, email ID, address, vehicle make and model, vehicle RC and a few others.
Next, customise your SAOD short-term car insurance by adjusting your coverage, duration, add-ons and other benefits.
Finally, make the payment using your preferred online payment method, such as a credit/debit card, UPI, net banking, etc.
Once your policy purchase is successful and you have received the confirmation, you can download the policy documents.
The eligibility criteria for buying short-term insurance for a car is the same as the eligibility criteria for any other type of car insurance.
Here are the basic requirements you must fulfil if you want to buy a SAOD insurance car for 1 month or more:
Your age must be 18 years or above.
You must have a valid driving licence.
You must own a vehicle with a valid Registration Certificate (RC).
Apart from this, you should also have a third-party insurance policy mandated by the Motor Vehicle Act of India.
At Reliance General Insurance, we have made the SAOD short-term car insurance claim process simple and quick. All you need to do is follow the given steps:
First and foremost, inform us soon after the unfortunate event. But before, ensure that it is covered under our policy. You can report the incident to us via call or the Reliance Self-i App.
Next, file an FIR (if applicable). This is especially important for events like theft, vandalism, road accidents, etc. You will require a copy of your FIR during the final claims settlement. Hence, save the copy carefully.
The next step is to gather the evidence through photographs, videos, newspaper cuttings and so on. This will help you get a faster claim approval.
Download and complete the claims form and send it to us along with the specified documents. You can find the document requirements here.
Upon receiving your claims request, we will send our surveyor to access the losses.
Once your claim has been approved, you can choose between cashless or reimbursement claim settlement.
With this option, you can get your car repaired at a Reliance General network garage cashless. You just have to pay small deductibles.
With this option, you can have your car repaired at any non-network garage and be reimbursed as per the policy terms. For this option, you need to send the original invoices and a few other documents to the given address.
Parameters
Third-party Car Insurance
SAOD Car Insurance
SAOD Short-term Car Insurance
Comprehensive Car Insurance
Scope of Coverage
Only covers third-party injuries, damages and losses.
Only covers the damages and/or losses to insured vehicles as per the list of inclusions.
Covers damages/losses to the insured vehicle for a short period.
Covers damages/losses to insured as well as third party or property as per the list of inclusions.
Legal Mandate
Mandatory
Not mandatory
Not mandatory but recommended
Not mandatory but highly recommended.
Premiums
Lower
Higher than third-party insurance but lower than comprehensive insurance plans.
Usually lower, but can vary based on customisation.
Higher due to comprehensive coverage and a broad list of inclusions.
Add-ons
Not available.
Limited add-ons.
Multiple add-ons available.
Suitable For
Every motor vehicle owner
Individuals who want protection for their own vehicle against potential risks.
Individuals who want own-damage coverage for a limited period. For example: seasonal drivers, travellers, etc.
Individuals seeking complete protection for their vehicle as well as third-party liabilities, against potential risks.
Multiple factors are taken into consideration when calculating the SAOD insurance premium. Some of the important premium calculation factors are:
Type of vehicle (make and model)
Age of vehicle
Cubic capacity of engine (CC)
Geographic location
Insured Declared Value
Please note that SAOD premium calculation is highly influenced by the IDV of the insured vehicle. Here is how it is calculated:
IDV = Manufacturer’s Price - Depreciation Value
Once you have the IDV of your car, you can use the below formula to calculate the SAOD short-term car insurance rates for your policy:
SAOD Premium = IDV X [Premium Rate] + [Addons] - [ Discount and Other Benefits]
The most effective way to reduce premiums for short-term insurance for cars is to opt for higher deductibles.
Ensure that you have used the right IDV for your vehicle. The IDV directly impacts the premiums and claims settlement amount.
SAOD car insurance plan add-ons come at a price that can significantly increase your premiums. So, avoid buying covers you don’t need.
Buying Reliance General insurance plans online can significantly reduce your short-term car insurance rates with up to a 40% discount.
Newer cars attract higher premiums due to their higher IDV. Similarly, luxury and premium cars have higher premiums than regular cars due to their repair and replacement costs.
A higher IDV results in higher premiums because of your car’s higher replacement/repair cost. On the other hand, a lower IDV can lead to lower SAOD short-term auto insurance premiums.
Vehicles with large engine capacities have higher short-term car insurance premiums than low CC vehicles. This is again due to the higher repair and replacement costs.
If you purchase multiple add-ons, your premiums will automatically increase. To save on premium, it is suggested that you purchase only necessary add-ons for your unique needs.
A No Claims Bonus or NCB is a benefit that is given when you haven’t made a claim during the policy year. By driving safely and ensuring no claims, you can significantly reduce your premiums.
Always compare multiple short-term car insurance plans before making a final purchase and select the one that meets your budget and requirements.
SAOD standalone car insurance is all about customisation. So, before finalising a policy, make sure it offers a good scope for customisation.
It is essential to choose a reliable insurance company like Reliance General Insurance to enjoy reliable coverage and hassle-free claims settlement.
Ensure that the claims process of the plan you are purchasing is simple and quick. We offer a 100% claims settlement ratio and 24*7 claims assistance.
Before purchasing a policy, read the wording carefully and understand the terms and conditions. This will help you ensure that it covers your desired scenarios.
SAOD short-term car insurance refers to a short-term car insurance policy with standalone own damage. In simple terms, it is a type of insurance plan that offers Own-Damage coverage to the insured vehicle for a short period. It can be purchased for a month or a few days to enjoy temporary coverage.
Yes. Own-Damage (OD) insurance is extremely important. The reason behind this is simple: third-party insurance is mandatory, but it doesn’t offer coverage for your vehicle.
Hence, to protect your vehicle against unforeseen accidents, it is critical to purchase an own-damage (OD) cover with your policy.
Yes. If your insured car gets stolen within the tenure of your SAOD short-term insurance, we will reimburse you up to the Insured Declared Value of your car. Please note that the insured declared value (IDV) is calculated based on the market value of your vehicle minus the depreciation rate applicable to it.
SAOD short-term car insurance mainly covers damages or losses sustained by the insured four-wheeler due to unforeseen accidents, natural hazards, riots, vandalism, theft, fire, etc.
No. Drinking and driving is a legal offence in India. For this reason, any loss or damage that occurs to the insured vehicle will not be covered by the SAOD short-term insurance plan.
No. The SAOD short-term car insurance or any other type of car insurance policy does not cover damages or losses that occurred due to your negligence or illegal driving practices.
It only covers the unforeseen damages arising from unprecedented accidents, natural calamities, man-made disasters, theft, fire, etc.
If you are over 18 years of age and have a valid driving licence, you can buy SAOD short-term or temporary car insurance.
Please note that a standalone own-damage policy doesn’t cover your third-party liabilities. Hence, it is mandatory to have third-party car insurance alongside your OD car insurance plan.
Yes. You can renew your SAOD short-term car insurance plan in the same manner as any other insurance policy. To do this, you can visit your insurer’s website and find the “Renewal” section. Once found, fill in your policy details along with other specified information and follow the instructions to renew your insurance plan.
The claim procedure for SAOD short-duration car insurance is the same as that for any other type of car insurance policy.
You can file your SAOD short-term car insurance claim by filling out a claims form and submitting the requested documents. Once your claim is verified and approved, you can opt for cashless or reimbursement settlement.
No. It is not mandatory to buy your SAOD and third-party car insurance from the same insurer. You can get them from different providers based on your preferences.
At Reliance General Insurance, we offer both third-party and SAOD short-term car insurance. You can purchase it online and enjoy benefits like discounted premiums, instant policy purchase, 100% claims settlement, and more.
There is no best time to purchase standalone own-damage short-term insurance. You can purchase it anytime you need it.
For example, you can get it before your road trips or to prepare your vehicle against seasonal challenges such as hot summers or monsoons. You can also buy it after your car has undergone any critical repairs and upgrades to keep your investment safe for an extended period.
No. Standalone Own Damage insurance is not mandatory for motor vehicle owners in India. However, they must possess valid third-party liability insurance with a minimum coverage of 5 years.
While SAOD insurance is not compulsory, it is highly recommended as it offers coverage for the insured vehicle’s own damage.
Both comprehensive car insurance and SAOD short-term car insurance are great options but suit different scenarios.
If you already have a third-party car insurance policy, the SAOD short-term car insurance plan is a great option. It will provide 360° protection for your car when combined with the existing third-party policy.
However, if you haven’t purchased a third-party insurance plan yet, it is recommended that you get a comprehensive car insurance plan that offers coverage for both your own damage and third-party liabilities.
Disclaimer: *T&C Apply. For more details on risk factors, terms conditions, brochure, and exclusions, please read the policy wording and CIS carefully before concluding a sale.
This is the overall claim settlement ratio for FY 2023-24 without claim outstanding at the start of the financial year as per public disclosure of Reliance General Insurance Co. Ltd.
The premium mentioned for car Insurance excludes taxes for the private car model Maruti Suzuki Alto 800 with a cubic capacity of less than 1000 cc for a 1-year Own Damage Insurance policy for an IDV of ₹2,34,728. The premium used is 2,853/year as of 1 March 2023 and then converted into a per-month basis, which gives us ₹238/month (2,853/12).
The discount varies basis vehicle specifications, No Claim Bonus discount and Geographical location of the vehicle to be insured. Discounts have been calculated on the basis of the rates prescribed under erstwhile Indian Motor Tariff. Discounts are applicable only to the Own Damage section and discounts may vary as per the vehicle make, model, RTO, age of the vehicle and addition of add-ons like Reliance Limit Sure-Pay As You Drive.
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