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Benefits of Buying Standalone Own-Damage Car Insurance

Updated On Oct 15, 2023

Benefits of Buying Standalone Own-Damage Car Insurance

The Standalone Own-Damage car insurance brings a host of benefits for car owners. To own this plan becomes essential due to the limited coverage offered by the compulsory and basic car insurance plan, i.e., the third party car insurance. The liability-only insurance plan covers the financial liabilities which you may incur towards a third party due to an accident with the involvement of your insured car. Therefore, car owners need an insurance plan to ensure their own cars against damages and losses of various sorts. Let’s have a glance at what benefits will be gained by the policyholders by buying standalone own-damage car insurance.

What All Is Covered Under a Standalone Own-Damage Car Insurance Policy?

When it comes to standalone own-damage car insurance plans, it is highly recommended to compare different car insurance companies before making its purchase. Here are the situations which are covered under this insurance plan:

  1. Accidental Damage – The standalone own-damage car insurance offers insurance coverage for the damages caused to your car due to an accident or collision.
  2. Car Theft Loss – The theft of a car could cause immense loss to a car owner, but the standalone own-damage insurance cover compensates the financial losses arising due to theft.
  3. Damage Caused by Fire – If there is a fire or explosion due to which your car sustains any damage, then the own-damage car insurance cover will offer damage expenses for the same.
  4. Natural Calamity – The fury of nature is unpredictable and unstoppable, but the damages caused by it could be covered. If your car is damaged due to any natural disaster like an earthquake, flood, cyclone, and so on, it will be covered under the own-damage cover.
  5. Man-made Disaster – Several disasters and havoc are developed by humans due to which your car could suffer severe damages and losses. All the damages incurred by your car in a riot, war, vandalism, and so on will get covered if you hold an own-damage insurance plan.

What Are the Benefits of Buying a Standalone Own-Damage Car Insurance Policy?

When you purchase a standalone own-damage insurance plan, you do not just get coverage for your car against several types of damages and losses, but also get various benefits associated with the plan. Below are some benefits which you can enjoy by buying an own-damage car insurance plan:

  1. Brings Choice of Insurers: With the purchase of a standalone own-damage car insurance policy, car owners can get their cars covered from different insurance companies. From one insurer they can purchase a third-party liability cover, while from another they can buy an own-damage cover. It allows the policyholders to choose two different insurance providers for their cars based on their budget and requirements.
  2. No Need for Long Term Plans: Earlier, new car owners were required to buy a comprehensive car insurance plan for the long term to meet the compulsory need for a third party cover for years. But, if you hold a standalone own-damage policy, policyholders can own a third party cover for 3 years along with a standalone own-damage cover for 1 year that could be renewed every year.
  3. Affordable Car Insurance: The availability of third party cover and standalone own-damage covers separately has made the car insurance covers more economical and affordable for all the car owners. Also, with the assent to purchase the own-damage car insurance policy from any insurer other than that of the third party cover’s insurer, you can choose the most economical insurance plan easily and swiftly.

Also, Read

How to Upgrade to a Comprehensive Car Insurance Policy?

Which Is Better Policy - Third Party or Comprehensive Car Insurance?

Complete Guide For Comprehensive Car Insurance


The standalone own-damage car insurance gets you coverage for damages and losses sustained by your car. In addition to this, it also brings some benefits of owning it, which gives freedom and peace of mind to policyholders. Look through these points to know why you should have an own-damage insurance plan.


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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