Product | UIN No. |
|---|---|
Car Secure - OD Only | IRDAN152RP0012V03201920 |
Own Damage Car Insurance
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Own Damage Insurance
Even a careful driver cannot avoid every risk on the road. Traffic congestion, unpredictable weather, and accidental damage can lead to repair costs that are often higher than expected. While third-party insurance meets legal requirements, it does not cover damage to your own car, leaving you financially exposed when something goes wrong. This gap is where own damage insurance becomes relevant. It focuses specifically on protecting your vehicle against losses from accidents, theft, fire, natural disasters, and man-made events, helping you manage repair costs without disrupting your finances. With Zurich Kotak, this protection is supported by a clear, digital-first process and access to an extensive cashless garage network across India, making repairs and claims easier to manage when you need support the most.
What is Standalone Own Damage Insurance?
Standalone own damage insurance, also referred to as a standalone OD policy, is a type of car insurance that covers damage to your own vehicle without including third-party liability protection. To explain the OD policy meaning simply, it protects your car against financial loss arising from road accidents, fire, theft, natural calamities such as floods or earthquakes, and man-made events like riots or vandalism. An own damage insurance policy can be purchased only if you already have a valid third-party car insurance policy, which is mandatory under Indian law. This option is useful if your third-party policy is active and you want to separately manage coverage for vehicle damage, add-ons, and renewal timelines.
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Benefits of own damage car insurance plan
Own-damage car insurance isn’t just about saving your wallet from a meltdown when your car gets dinged or stolen—it’s your ride’s ultimate safety net. From accidents to unexpected mishaps, here’s why this smart move does more than just keep the financial
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What's covered/not covered under Own damage insurance?
Own damage insurance applies specifically to damage caused to your vehicle. Understanding what is included and excluded helps avoid confusion at the time of a claim.
Accidental damage
Covers repair expenses for damage caused by accidents or collisions, including damage to the vehicle body, engine, and essential parts.
Natural calamities
Covers damage due to floods, earthquakes, storms, landslides, cyclones, and hailstorms.
Man-made events
Covers losses resulting from riots, vandalism, strikes, terrorist activities, or malicious acts.
Fire, explosion and self-ignition
Provides cover for damage caused by fire, explosions, lightning, or self-ignition.
Theft or burglary
Compensates up to the Insured Declared Value (IDV) if the vehicle is stolen.
Damages during transit
Covers damage occurring while the vehicle is being transported by road, rail, air, or waterways.
Electrical and non-electrical accessories
Covers insured accessories fitted to the vehicle under a comprehensive car insurance plan.
Personal accident cover
Provides coverage for accidental injury or death, subject to policy terms.
General wear and tear
Damage due to ageing, regular use, or depreciation of parts is excluded.
Depreciation or consequential losses
Depreciation or indirect losses are not covered unless included through add-ons.
Improper or illegal vehicle use
Damage caused when the vehicle is used beyond its permitted purpose or for illegal activities is not covered.
Electrical or mechanical failures
Failures due to mechanical or electrical issues are excluded unless covered by a specific add-on.
Any contractual liability
Any contractual liability borne by the policyholder is not covered.
Nuclear risks or war
Damage caused by war, war-like situations, or nuclear activity is excluded.
Driving without a valid licence
Claims are rejected if the driver does not hold a valid or appropriate driving licence.
Driving under influence
Damage occurring while driving under the influence of alcohol or drugs is excluded.
Illegal driving practices
Claims are not covered if the vehicle was driven without a valid driving licence or used for illegal activities.
Consequential damages
Damages that occur as a result of an earlier incident not covered by the policy are excluded (e.g., driving a car with a pre-existing issue that worsens).
Using the vehicle beyond its limitation of use
Damages caused when the vehicle is used outside its intended purpose (e.g., private vehicles used for commercial activities) are excluded.
Deliberate or intentional damages
Deliberate or intentional damage to the vehicle is not covered.
Types of car insurance policy
Type of Insurance | Coverage | Mandatory/Optional | Key Features | Best For |
Third-Party Car Insurance | Covers legal and financial liabilities towards third parties for injuries, death, or property damage. | Mandatory as per Indian law. | It protects against third-party liabilities but does not cover your own vehicle. | Meeting legal requirements at an affordable cost. |
Stand-Alone Own Damage Car Insurance | Covers damages to your own vehicle due to accidents, natural calamities, man-made events, theft, or fire. | Optional but recommended for financial security. | Focuses solely on damages or losses to your own car. | Car owners who already have third-party insurance but need protection for their own vehicle. |
Combines third-party liability coverage and own damage cover, offering all-around protection. | Optional but provides complete protection. | Covers third-party liabilities and damages to your vehicle in one policy. | Car owners are seeking comprehensive coverage for their car and third-party liabilities. |
What is the Insured Declared Value (IDV) in OD car insurance?
Purpose
IDV determines the sum insured under your OD policy. It directly impacts your premium—higher IDV means a higher premium and vice versa.
Calculation
IDV is calculated based on the car's ex-showroom price minus depreciation. Electrical and non electrical accessories not included in the vehicle IDV..
Depreciation rates for IDV calculation are predefined by the Insurance Regulatory and Development Authority of India (IRDAI).
Coverage for Total Loss
In case of vehicle theft or total damage, the insurer compensates you with the IDV amount after deducting deductibles and depreciation.
Customizable IDV
Some insurers allow minor adjustments to the IDV. While a higher IDV means better coverage, it also increases the premium. Conversely, under-declaring your IDV may reduce premiums but leave you underinsured.
Exclusions
Regular wear and tear or partial damages to the vehicle are not paid based on IDV.
How to calculate premium of own damage insurance?
The premium for Standalone Own Damage insurance is calculated based on multiple factors, including the car's Insured Declared Value (IDV), age, location, and applicable discounts or loadings.
Formula for Own Damage Premium:
OD Premium=(IDV×OD Rate)/100+(Loading - Discounts)\text{OD Premium} = (\text{IDV} \times \text{OD Rate}) / 100 + \text{(Loading - Discounts)}OD Premium=(IDV×OD Rate)/100+(Loading - Discounts)
Where:
IDV (Insured Declared Value) = Current market value of the car (excluding depreciation)
Own Damage Insurance Rate = Defined by the Insurance Regulatory and Development Authority of India (IRDAI) and varies based on vehicle type and engine capacity
Loading = Additional charges based on risk factors (e.g., modifications, high-risk locations)
Discounts = No Claim Bonus (NCB), Voluntary Deductibles, and other applicable offers
Example Calculation:
Assume:
IDV = ₹5,00,000
OD Rate = 2%
No Claim Bonus (NCB) = 20%
Other Discounts = 5%
OD Premium=(5,00,000×2%)−(20%+5%)\text{OD Premium} = \left(5,00,000 \times 2\%\right) - (20\% + 5\%) OD Premium=(5,00,000×2%)−(20%+5%)=10,000−2,500=₹7,500= 10,000 - 2,500 = ₹7,500=10,000−2,500=₹7,500
Additional Charges:
GST @18% is applicable on the final OD premium.
Add-on covers like Zero Depreciation, Engine Protection, Roadside Assistance may increase the premium.
Who Should Get a Standalone Car Insurance Policy?
A standalone own damage car insurance policy is suitable if you already have a valid third-party insurance policy and want separate financial cover for damage to your own vehicle. It works well if you prefer flexibility in choosing different insurers for third-party and own damage covers.
This policy is particularly relevant for new, high-value, or frequently driven vehicles in city traffic, where the risk of accidental damage is higher. It is also helpful if you want the option to customize coverage with add-ons such as zero depreciation or engine protection. Standalone own-damage insurance can help balance premium costs while providing protection against accidents, theft, and natural or man-made events.
Add–on covers available with own damage car insurance policy
Car Insurance add-on covers allow you to extend the scope of your own damage insurance policy by addressing specific situations that may otherwise lead to out-of-pocket expenses. These optional covers can be selected based on your vehicle’s age, usage, an
Depreciation cover
This add-on ensures full claim settlement in case of partial loss without factoring in depreciation on parts such as metal, rubber, or plastic. It is beneficial for new or relatively new vehicles.
Engine protect
Engine Protect covers damage to the engine caused by water ingress, oil leakage, or mechanical breakdown due to external factors. This add-on is especially relevant for vehicles driven in flood-prone areas.
Return to invoice
In the event of total loss or theft, this add-on pays the full invoice value of the vehicle, including registration charges and taxes, rather than the Insured Declared Value (IDV). It is commonly recommended for new cars.
Tyre cover
Tyre Cover covers the repair or replacement of tyres and tubes damaged by accidental loss or impact, helping manage tyre-related repair costs.
Roadside assistance
Roadside Assistance add-on cover provides support during emergencies such as breakdowns, towing, fuel delivery, or flat tyre assistance, offering help when the vehicle is stranded.
Consumables cover
Consumables Cover includes the cost of items such as engine oil, brake oil, lubricants, nuts, bolts, and similar materials used during repairs, reducing repair-related out-of-pocket expenses.
Daily car allowance
If your car is under repair following a claim, this add-on provides a daily allowance to help cover the cost of alternate transportation during the repair period.
NCB Protect
NCB Protect helps retain your No Claim Bonus eligibility at renewal, even if a claim is made during the policy year, preventing loss of accumulated discounts.
Loss of personal belongings
This add-on covers financial loss arising from theft of personal belongings kept inside the insured vehicle, subject to policy terms and limits.
How to buy own damage car insurance online
A standalone own damage car insurance policy is suitable if you already have a valid third-party insurance policy and want separate financial cover for damage to your own vehicle. It works well if you pref
Click on the "Get a Car Insurance Quote" button on the Zurich Kotak Car Insurance Page
Fill in your car details such as registration number, model, make etc.
Fill in you personal details and make the payment online.
How to get an online quote for own damage car insurance
Buying insurance for a new car online ensures quick coverage without paperwork or delays, helping you get insured from the start.
Visit Zurich Kotak General Insurance website
Log in to your Zurich Kotak General Insurance profile using the OTP sent to your mobile number
Fill in your details such as car registration number, mobile number and email id (optional).
Click on the "Get A Quick Quote" button on the Zurich Kotak Car Insurance Page and review coverage
How to buy insurance for a new car
We'll walk you through buying insurance for your new car
Click on the "Get a Car Insurance Quote" button on the Zurich Kotak Car Insurance Page
Fill in the required details such as registration number, model, make, etc.
Fill in you personal details and make the payment online.
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Tips to choose the right own-damage car insurance plan
Choosing the right own-damage car insurance plan involves balancing coverage, cost, and usability to suit your driving needs.
Select an accurate IDV: Choose an Insured Declared Value that reflects your car’s current market value. A very low IDV may reduce premiums but can lead to underinsurance at the time of a claim.
Compare add-on covers carefully: Evaluate add-ons such as zero depreciation, engine protect, or roadside assistance based on your driving environment, vehicle age, and usage patterns.
Check claim support and cashless garage access: Ensure the insurer offers a strong claim support process and access to a wide cashless garage network to avoid delays and upfront repair payments.
Opt for voluntary deductibles wisely: Higher voluntary deductibles can lower your premium, but only choose them if you are comfortable paying a higher amount during claim settlement.
Ensure compatibility with your third-party policy: If purchasing a standalone own-damage plan, confirm that it aligns seamlessly with your existing third-party insurance to maintain uninterrupted coverage.
Steps to renew own damage car insurance policy online
Hit the refresh button on your car’s safety.
Follow these simple steps to renew your own damage car insurance and keep the protection running smoothly, mile after mile.
Visit https://www.zurichkotak.com/renewal and choose the car insurance policy that you want to renew
Enter your policy number and mobile number and click on ‘Submit’.
Your policy number will be verified and you will be able to check the details of your existing policy. You can continue to renew the existing policy or make changes.
Pay the renewal premium and your policy will be done instantly!
How to file a own damage car insurance claim at Zurich Kotak General Insurance
Filing a claim has never been this easy – we made sure of it
Call us on 1800 266 4545 (8 a.m. – 8 p.m.) and intimate us about your claim with the details of your policy.
Once your claim is registered, our customer support executive will provide you with a Claim Reference Number.
You will be required to submit the relevant documents, which may include your Driving License, RC Copy, and Policy FIR Copy, in accordance with the Policy terms and conditions.
An arrangement will be made by us for an inspection, it will be conducted within 24 hours if a claim is reported on a working day, or the next working day if the claim is reported on a Sunday or a public holiday.
On cashless facility confirmation, the vehicle can be repaired at a preferred network garage, on payment made directly to the garage.
You will only be required to pay the deductible as mentioned in the policy, and the depreciation value, salvage, etc., as informed by the surveyor.
Call us on 1800 266 4545 (8 a.m. – 8 p.m.) and intimate us about your claim with the details of your policy.
Once your claim is registered, our customer support executive will provide you with a Claim Reference Number.
You will be required to submit the relevant documents, which may include your Driving License, RC Copy, and Policy FIR Copy, in accordance with the Policy terms and conditions.
An arrangement will be made by us for an inspection, it will be conducted within 24 hours if a claim is reported on a working day, or the next working day if the claim is reported on a Sunday or a public holiday.
Post work approval by the insurer, the vehicle can be repaired by the policyholder at the garage of their choice.
Submit all bills, payment receipt along with your policy details to us, and we will make the payment within 7 working days of completion of the documentation.
Documents required to file own damage car insurance claim
Get familiar with the documents needed for speedy claim process
Registration Certificate (RC) Copy
Policy Copy
Policy holder's valid ID proof
Drivers Driving license
FIR Copy (In case of theft and TP claim)
Duly filled Claim form
Any further requirements will be conveyed basis inspection
How to download own damage car insurance policy copy?
Here is your step-by-step guide to access your policy copy
Losing your car insurance policy may lead you to pay heavy fines, although you have one. But now, you can immediately download your car insurance policy copy from our website.
Enter your policy number
Enter your registered mobile number Or your registered email Id
Click on Get OTP
Type the OTP and click on download car insurance policy document
Zurich Kotak General Insurance cashless network garages
Zurich Kotak General Insurance offers cashless repair services through a wide network of 5,700+ authorised garages across India, helping make claim settlements quicker and more convenient. You can get your vehicle repaired without paying upfront for covered damages, as approved repair bills are settled directly between the insurer and the garage. Using Zurich Kotak’s online network locator, you can easily find nearby cashless garages for cars, bikes, and commercial vehicles, ensuring timely support during emergencies or planned repairs. This extensive network helps reduce out-of-pocket expenses and simplifies the repair process for Zurich Kotak motor insurance customers.
Car Insurance glossary
There's always more to know about Car Insurance
The Insured Declared Value (IDV) is the insurer's maximum coverage for a vehicle during a policy period. It is calculated using the vehicle's selling price and depreciation, and serves as compensation in case of total loss.
The No Claim Bonus is the discount on the own damage portion on the premium offered to the policyholder from the car insurance company for responsible driving and not filing damage claims during the preceding policy year.
Zero Depreciation Cover is an add-on wherein the entire claim amount is settled by the car insurance company without factoring in depreciation value of the insured car. This cover is applicable to vehicles that are less than 5 years old.
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Own Damage Car Insurance - Frequently Asked Questions
No, you can buy a standalone own damage cover and a third-party cover from different insurers. However, the standalone own damage cover is issued only if you already have a third-party cover on the car.
The personal accident cover is an optional feature that you can add to your own damage cover. The coverage is not inbuilt. The personal accident cover is also a mandatory requirement like a third-party cover. However, if you have an existing personal accident cover, you can skip the coverage with the own damage plan.
Own damage in car insurance means the damages that the car suffers or the theft of the car. The own damage car insurance policy covers such damages and theft of the car and provides financial compensation in car-related losses.
No, you need to have a third-party cover first and then you can buy only the own damage cover on a standalone basis.
No, the own damage insurance coverage is not enough. You need the mandatory third-party liability coverage too so that you can drive the car legally.
The OD car policy is suitable for every car owner especially those who have new or premium cars.
No, it is optional. However, it complements third-party liability insurance to provide comprehensive protection.
It covers accidental damages, fire, theft, natural disasters (like floods or earthquakes), and man-made events (like riots or strikes).
Normal wear and tear, electrical/mechanical breakdowns, and damages caused while driving under the influence are excluded.
Yes, you can purchase standalone Own Damage insurance if you already have third-party coverage.
The premium depends on the car's make, model, age, insured declared value (IDV), and location.
Yes, you can transfer the policy to the new owner by informing us.
You need the policy copy, claim form, FIR (if applicable), car registration certificate, and repair bills.
Yes, but the insurer may inspect the car before renewing the policy.
Notify us, provide necessary documents, and take the car to a network garage for repairs.
Own Damage (OD) insurance covers repair or replacement costs for your vehicle if accidents, fire, theft, natural disasters such as floods or earthquakes, or man-made events like vandalism or riots damage it. It also includes loss due to explosion, self-ignition, and damage during transit, subject to policy terms.
Several factors influence your car insurance premium, including the vehicle’s age and model, Insured Declared Value (IDV), location of registration, driving history, selected add-on covers, and voluntary deductible. Choosing higher voluntary deductibles can lower premiums, while additional add-ons and higher IDV increase premium costs.
No. Own damage insurance is the basic cover for vehicle damage, while Zero Depreciation is an add-on to it. Zero Depreciation ensures depreciation is not deducted from the claim settlement for replaced parts, resulting in higher claim payouts for eligible repairs. Own damage covers loss; zero dep enhances settlement.