Own Damage Car Insurance
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Note: The above data is till 30th Sep, 2024
What is Own Damage Car Insurance?
As per the Motor Vehicles Act, 1988, a third-party liability insurance is mandatory in India for you to drive your car on the Indian roads. Not just that, own damage car insurance policy is also considered as a prudent financial step towards safeguarding you from the huge expenses that may arise due to an accident. A third-party car insurance is a bare minimum to fulfil the mandatory regulatory requirement. However, it just protects you from the financial and legal liabilities for the damages which have been caused to other vehicles or persons. Third-party liability insurance policy does not cover the losses or damages sustained by your car for which you need an additional own-damage car insurance.
Own damage insurance is quite simple. It means coverage for the damages or losses suffered by your own car. The own damage car insurance policy covers the damages that your car might suffer due to natural calamities. For instance, if your car is damaged in an accident or it catches fire, it might require repairs. The cost of such repairs will be covered by the own damage car insurance policy. Similarly, if your car is damaged in a flood or an earthquake, the policy will cover the financial loss that you suffer due to such damages.
Thus, the standalone own damage policy meaning includes coverage for the car. Besides natural calamities, the policy also extends coverage for theft. If the car is stolen, the insurance company pays a lump sum amount (equal to IDV) as claim so that you are compensated for the financial loss that you have suffered.
Key features of own damage car insurance plan
Zurich Kotak General Insurance caters to your requirements by offering extensive features and a comprehensive insurance coverage for own damage which provide you benefits in various ways throughout the tenure of your car insurance journey. Here are some o
Benefits of own damage car insurance plan
The primary reason to buy own-damage car insurance is to secure yourself from the huge financial burden which might arise when your vehicle is damaged or stolen. However, it also serves various other purposes. Here are some of the reasons to buy own damag
Own damage cover
Own damage car insurance provides complete cover to your vehicle against damages caused due to natural calamities, theft, strike, riot damages in inland transit, etc. Hence, if you have own damage car insurance policy, you need not worry about any financial burden that may arise due to damage to your vehicle.
Optional Add-on covers
Every individual has insurance requirements. To meet the individual requirements of the car owners, Zurich Kotak own damage car insurance provides an option to buy optional add-ons at an additional premium to extend the coverage of the policy and make it comprehensive. For example, if you want to protect your engine, you can buy engine protection cover add-on for additional security.
Coverage against theft
There are always chances of a car being stolen. One might face huge loss in case of theft. Own damage car insurance policy pays a lump sum in the theft claim to enable you to replace your car.
Premium discounts
Attractive premium discounts are offered on the total premium while purchasing the own damage car insurance policy. Besides no claim bonus, multiple premium discounts are offered for membership of Automobile Association, safety devices installation, voluntary deductible, etc. that help reduce your premium.
Why Do You need own damage car insurance?
The primary reason to buy own-damage car insurance is to secure yourself from the huge financial burden which might arise when your vehicle is damaged or stolen. However, it also serves various other purposes. Here are some of the reasons to buy own damag
All-round coverage
It provides all-around coverage to a vehicle. Own damage car insurance the company pays for the losses or damages due to natural calamities, accidents or man-made calamities
Validity
Own damage car insurance policy is valid for a tenure of one year and can be renewed for continued coverage.
Cashless settlement
You can get your vehicle repaired by enjoying cashless settlement of claims without paying a single penny.
Features of own damage car insurance plan
See what makes our car insurance policies stand out!
The own damage car insurance policy has the following features
Coverage for own damages
The own damage insurance for car covers the damages suffered by the car. Such damages can be due to natural or man-made calamities. For instance, the own damage cover will pay for the repair costs if the car is damaged due to earthquake, flood, landslide, storm, fire, ignition, strike, riots, etc.
Coverage against theft
If the car is stolen, you get compensated for the considerable financial loss that you suffer. You can use the compensation received to replace the lost car or pay off an existing car loan.
Optional add-ons
Different add-ons are available with own damage car insurance policies. Such add-ons are optional and help in increasing the scope of coverage at an additional premium.
No claim bonus
You earn a no claim bonus every year when you don’t make a claim under the own damage insurance for car. The no claim bonus can be used as a premium discount on renewals. The bonus starts from 20% and jumps to 50% after five successive claim-free years.
Premium discounts
You can enjoy different types of premium discounts on the own damage premium. These discounts make the premium more affordable.
One-year term
The own damage cover is available for a term of one year after which you can renew it for continuous coverage.
Coverage for own damages
The own damage insurance for car covers the damages suffered by the car. Such damages can be due to natural or man-made calamities. For instance, the own damage cover will pay for the repair costs if the car is damaged due to earthquake, flood, landslide, storm, fire, ignition, strike, riots, etc.
Coverage against theft
If the car is stolen, you get compensated for the considerable financial loss that you suffer. You can use the compensation received to replace the lost car or pay off an existing car loan.
Optional add-ons
Different add-ons are available with own damage car insurance policies. Such add-ons are optional and help in increasing the scope of coverage at an additional premium.
No claim bonus
You earn a no claim bonus every year when you don’t make a claim under the own damage insurance for car. The no claim bonus can be used as a premium discount on renewals. The bonus starts from 20% and jumps to 50% after five successive claim-free years.
Premium discounts
You can enjoy different types of premium discounts on the own damage premium. These discounts make the premium more affordable.
One-year term
The own damage cover is available for a term of one year after which you can renew it for continuous coverage.
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Electrical accessories
Insuring your vehicle’s every need and providing comprehensive plan that covers all electrical/non-electrical accessories.
Fire
Don’t let fire damage to your car ruin your life. Stay protected against any loss and get compensated for damages caused by fire.
Self ignition
Get compensated for losses incurred from combustion that occurs without the use of an external heat source.
Natural disasters
When disaster strike, we’ve got you covered. Get protected from the effects or damages due to natural disasters.
Personal accident
Get comprehensive coverage to protect yourself and your loved ones from unpredictable events such as accidents.
Explosion
Keeping your property safe & covered from the damages caused by explosions.
Wear, tear & general aging of vehicle
We do not cover any damages due to normal wear and tear and general aging of the vehicle
Depreciation or consequential losses
Our coverage does not include depreciation or consequential losses (unless they are separately covered by add-ons).
Vehicle used otherwise
We do not cover any damage caused by the vehicle being driven otherwise than in accordance with the limitations on its use.
Mechanical/Electrical breakdown
Any damage or loss that occurred due to mechanical or electrical breakdown is not covered by us.
Any contractual liability
You are not covered under our insurance policy for any contractual liability if you are found to be responsible for the damages.
Influence of drugs or liquor
We do not cover damage to/by a person who is driving under the influence of drugs or alcohol.
Vehicle without valid license
Please keep in mind that we do not cover damage to/by a person who is not licensed to drive the vehicle or had an invalid license.
Nuclear risk or war
We do not cover damage due to nuclear risk or war. We do, however, cover all other risks as mentioned in our Terms and Conditions of Service
Add–ons available with car insurance policy by Zurich Kotak General Insurance
Customize your coverage with our amazing add-ons - they're like bonus features for your car protection!
Consumables cover
Consumables are one-time items used in repairs of the car like nuts, bolts, screws, lubricants, etc. The cost of these consumables is covered under the add-on which is otherwise excluded from coverage. Know more about car insurance consumables add-on cover.
Depreciation cover
Depreciation is not covered under car insurance. In the case of claim, the cost of depreciation is deducted from the cost of repairing or replacing the parts. However, with the depreciation add-on cover, depreciation gets covered. It is not deducted from the claim amount and the claim payout is higher.
Engine protect
If the engine suffers a consequential damage due to water ingression/ leakage of lubricating oil, the add-on would cover any expenses incurred in repair or replacement of engine parts. Know more about car insurance engine protect add-on cover.
Return to invoice
Covers purchase invoice price of the vehicle in-case of Total Loss/Constructive Total Loss. Know more about car insurance return to invoice add-on cover.
Tyre cover
This add-on covers for the cost of repair and/or replacement of tyres and tubes caused by accidental loss or damage. Know more about car insurance tyre add-on cover.
Roadside assistance
This add-on allows roadside assistance in the case of emergencies or when the car breaks down in the middle of the road. You can get assistance for flat tyres, fuel refill, jump starting the battery, etc. Know more about car insurance road assistance add-on cover.
Daily car allowance
In the case of a claim, when the car is under repairs, the add-on pays a daily allowance which you can use to cover the cost of alternate transportation. know more about car insurance daily car allowance add-on cover.
NCB Protect
This add-on protects the NCB discount which the insurer is eligible upon renewal for the next policy year, which would been otherwise lost, if claims were made in the policy year.
Loss of personal belongings
This add-on covers the financial loss that you might suffer if personal belongings are stolen from the insured car. know more about car insurance loss of personal belongings add-on cover.
Steps to buy car insurance online from Zurich Kotak General Insurance
Hassle-free insurance at your fingertips with our easy and fast online process
Get All-round protection for your precious vehicle in a few steps. We at Zurich Kotak General Insurance understand the value of your time and have simplified the car insurance buying process to a few simple steps.
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 car insurance
See how simple it is to get a car insurance quote with us
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
Tips on how you can select the best own-damage car insurance policy for your car is discussed as follows:
Before you finalize your policy, ensure to check the coverage of the policy and compare the premium vis-à-vis the coverage.
Select own-damage car insurance policy which gives a high insured declared value so that you get a maximum claim in the event of theft or loss of your vehicle
You should compare the available plans in the market and then select the one which best suits are requirements at affordable premium
Check the network of cashless garages
Check the premium discounts available with the plan so that you can save more on the premium cost
Do not forget to claim your no-claim bonus at the time of renewal of your own-damage car insurance policy for every claim-free year and try not to make an unnecessary claim to save the no-claim bonus discount.
Read the policy document carefully and check the exclusions to avoid rejection of your claim
Buy personal accident cover with your policy to get a considerable sum assured at a low premium to meet the accidental emergencies and get additional coverage.
Check the available add-ons to extend the coverage of your policy.
Steps to renew car insurance policy online from Zurich Kotak
Follow these quick steps to renew your car insurance policy and keep your car protected always
Your car insurance is just a click away. Visit the Zurich Kotak Car Insurance page to get your car insurance quote.
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 renew the existing policy or make changes.Your policy number will be verified and you will be able to check the details of you
Pay the renewal premium and your policy will be done instantly!
How to file a 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.
List of documents required for filing a car insurance claim
Get familiar with the documents needed for speedy claim process
Documents required for car insurance claim
To raise a motor insurance claim under different situations mentioned above, you will require the following documents.
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 Your 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
Our cashless network garages makes roadside assistance a sleek experience at the time of uncertainty
Buying a car insurance gives access to cashless network garages which provides convenience and hassle-free car repairs covered by Zurich Kotak General Insurance without the need for upfront payment.
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.