Own Damage Car Insurance Meaning - What You Need to Know

What is Own Damage Car Insurance?

Own damage car insurance is a type of insurance coverage that protects the driver’s vehicle from any physical damage or loss. This includes damage caused by an accident, fire, theft, vandalism or natural disasters. Own damage insurance covers the cost of repair or replacement of the car, depending on the extent of the damage. It also covers the third-party liability in case of any legal proceedings. This type of insurance policy is mandatory for all vehicles registered in India and is a prerequisite for getting a driving license.

What Does Own Damage Car Insurance Cover?

Own damage car insurance covers the cost of repair or replacement of the vehicle in case of any physical damage or loss. This includes damage caused by an accident, fire, theft, vandalism or natural disasters. It also covers the third-party liability in case of any legal proceedings. Some policies also offer additional benefits such as personal accident cover, medical expenses cover, and cover for towing charges.

What are the Different Types of Own Damage Car Insurance?

There are two types of own damage car insurance: comprehensive and third-party liability. The comprehensive policy covers the cost of repair or replacement of the car, while the third-party liability policy only covers the cost of legal liability to third parties in case of an accident or any other type of legal proceedings. There are also add-on covers available in some policies that provide additional benefits.

How to Choose the Right Own Damage Car Insurance?

Choosing the right own damage car insurance policy can be tricky. It is always advisable to compare different policies from different companies to find the one that best suits your needs. Check the features and benefits offered by each policy and make sure that you understand the terms and conditions before signing the agreement.

What are the Benefits of Own Damage Car Insurance?

Own damage car insurance provides financial protection in case of any physical damage or loss to the vehicle. It covers the cost of repair or replacement of the car, as well as any third-party liability in case of an accident or legal proceedings. It also offers additional benefits such as personal accident cover, medical expenses cover, and cover for towing charges.

How Much Does Own Damage Car Insurance Cost?

The cost of own damage car insurance will vary depending on the type of policy, the make and model of the car, and the age and driving history of the driver. Generally, the premium for a comprehensive policy is higher than that of a third-party liability policy. It is important to compare different policies from different companies to get the best deal.