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Reasons to Buy Standalone Own-Damage Car Insurance Policy

Written by Sharad Bajaj
Updated On Oct 15, 20232 min read

6 Reasons to Buy Standalone Own-Damage Car Insurance Policy

To own a liability only insurance cover is the responsibility of every car owner. It is crucial to hold it as a compulsion while driving otherwise you may have to face a penalty, according to the Indian Motor Tariff. However, this insurance coverage could save you from the legal perspective, but its limited coverage would not be helping you with any financial assistance in case of any damage or loss caused due to an accident or a mishap. Hence, it is recommended to buy standalone own-damage car insurance along with the third party insurance cover to ensure complete protection. Let’s discuss the prime reasons to purchase a standalone own-damage car insurance plan.

Reasons to Buy a Standalone Own-Damage Car Insurance Policy

The significance to hold standalone own-damage car insurance are many. This insurance scheme gives coverage for damages and losses incurred by your car which can be caused by multiple types. Here are some points of coverage provided by your own-damage cover:

  • Accident or Collision – The standalone own-damage insurance plan provides coverage for the car damage caused due to a car accident by making the car insurance company pay for the expenses of car repair as per the terms and conditions of the insurance cover.
  • Theft – Theft of a car makes you suffer a huge loss and it can happen anytime. If you hold standalone own-damage car insurance, then your loss arising due to the theft of your car will be compensated. However, stealing caused due to the owner or driver’s carelessness may fail you to get the compensation.
  • Fire – The own-damage car insurance policy covers the damage incurred by the insured car which is caused due to accidental fire or any other type of ignition. Gaining such coverage would not be possible with the third party cover, hence, it is always recommended to buy standalone own-damage car insurance along with the third party car insurance.
  • Damage Due to Natural Calamities – Natural calamities can happen anytime and anywhere, which can create huge damage as well. It is not your fault but could make you suffer hefty expenses, therefore, it is advised to get your car secured with an own-damage cover which covers damage due to natural calamities like earthquake, landslide, flood, and so on.
  • Damage Due to Man-Made Disasters – Whenever there is any situation of social unrest, cars, and other vehicles become vulnerable and suffer without any reason. However, in such conditions arising due to man-made calamity, you will have to sustain the damage expenses incurred due to riots, war, vandalism, etc.
  • The Option of Add-on Covers – The standalone own-damage cover apart from offering holistic coverage for your car also opens the option of add-on covers with which you can extend your car insurance coverage by paying a little extra premium amount. The add-on covers that you become eligible to avail of with your own-damage cover are zero depreciation cover, roadside assistance, consumables cover, NCB cover, return to invoice, etc.

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 purchase of a standalone own-damage car insurance cover opens up the insurance coverage for your car. This coverage offers several benefits by compensating damage and loss caused due to various incidents like accidents, theft, calamities, etc. In addition to this, it also gives add-on covers and discount options to policyholders, which enhances the coverage and increases your savings. Therefore, holding an own-damage insurance cover along with the third-party insurance cover is a must for every car owner.


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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Written by Sharad Bajaj
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 Sharad is an insurance industry veteran who has managed motor insurance products for over a decade. He helped set up and scale the motor insurance vertical for a leading insurance company in his previous stint. In his spare time, Sharad likes to read and be in tune with nature.

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