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What Is Od And Tp In Bike Insurance?

Published On Nov 29, 2022

What Is Od And Tp In Bike Insurance?

You can choose to purchase your own damage or third-party liability insurance coverage. Financial security in this situation is very important. The importance of financial aid for Indians who own vehicles cannot be overstated. And it is a benefit of purchasing bike insurance coverage. A two-wheeler or automobile must have insurance coverage in the Indian Territory, according to the Motor Vehicles Act of 1988. You are not permitted to operate a vehicle on the road without insurance. Instead, you will be held accountable for the consequences of breaking the rules. Therefore, having bike insurance is crucial. And knowing about OD and TP in bike insurance is even more crucial.

What Is Od And Tp In Bike Insurance?

What Is Own Damage (OD)?

 Own Damage insurance protects you from loss and damage to your own bike, including theft, fire, and other occurrences. You can pay the costs of replacement and repair with the help of your own damage cover. The OD coverage covers losses brought on by accidents, theft, intentional acts, and natural and man-made disasters. There are insurance providers who offer your bike's own damage insurance coverage. You have the option to purchase your own damage cover alone or as part of a comprehensive policy. The decline in the bike's value takes new insurance rates into account.

Benefits Of Own Damage (OD) Coverage?

The advantages of Bike Insurance for Own Damage are listed below.

  1. Coverage for accident-related car damage
  2. Theft protection Insurance against man-made or natural disasters
  3. Fire harm
  4. The choice to modify the insurance with add-ons

What Is Third Party (TP)?

 For your car to be safe and secure, third-party liability insurance is a requirement. According to the Motor Vehicle Act of 1988, third-party liability insurance must be purchased for the required use. This insurance covers you in case your car causes death or serious injury to someone else's property or causes loss or damage to a third party's vehicle. You have to cope with the situation in this case. When you currently have third-party liability insurance, it would be simpler. If not, you will have to pay the loss expense out of your own money. You should be aware that third-party insurance does not cover loss or damage to your own car because it is the one that causes damage to other people's cars. You must purchase your own damage insurance coverage to get compensated for your own vehicle. Additionally, does not handle claims for stolen or damaged vehicles.

Benefits Of Third Party (TP) Coverage?

The advantages are listed below.

  1. Property harm to third parties
  2. Coverage for services supplied by third parties
  3. Indemnification for death
  4. Coverage for the monetary obligations you face if you unintentionally hurt someone or harm their property.

Difference Between OD And TP

To learn more about OD vs. TP insurance, check the following list.

  • Primary Cover

Own Damage Bike Insurance is covered by bike insurance. Insurance against third-party liability is provided by third-party bike insurance.

  • Noteworthy Exceptions

exclude third-party obligations from coverage. Own Damage is not covered.

  • Is it required?

No, obtaining Own Damage coverage is not required. However, purchasing a Third-party Bike Insurance policy is necessary to adhere to the law.

  • Is it adequate?

Considering that you are required to get a third-party plan, purchasing your own damage insurance would increase your insurance coverage. Purchasing just a third-party policy might not be enough since you would still be responsible for paying for any damage to your automobile.

  • Validity

OD can range from one to three years. However, because long-term policies can be pricey, most consumers opt to purchase a short-term plan instead. For TP, you could choose an annual policy.

  • Modifications

Yes, you can adjust the Own Damage coverage to meet your needs by purchasing additional bike insurance, but TP cannot be modified.


 When seeking broad or thorough coverage, you should purchase both Third-party Liability insurance and your Own Damage insurance. This will offer comprehensive protection against practically all losses associated with operating a vehicle. People who live in theft- or flood-prone areas can also choose this insurance because the Own Damage Bike Insurance policy covers protection against damage and theft from natural calamities. Additionally, you need to purchase a Comprehensive Automobile Insurance policy if you want protection from damages to your bike while also abiding by the law.

Also Read: Is It Mandatory To Buy Insurance From A Bike Dealer


This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
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