Policy snapshot
A policy specifically covering damage to the insured vehicle due to accidents, natural or man-made calamities, and theft.
What is Own Damage Motor Insurance?
Own Damage insurance covers the costs of repairing or replacing your vehicle due to various covered perils, excluding third-party claims.
What can it cover?
- Vehicle damage from accidents, natural disasters (flood, earthquake), fire, theft, riots, vandalism.
Who should consider it?
- Owners already having third-party coverage but wanting protection for their own vehicle.
Key features to understand
- Protection from various risks not involving third parties; Customizable with add-ons; Can be bought alongside a third-party policy.
What deserves attention before you buy?
Coverage, exclusions, sub-limits, deductibles, waiting periods, warranties and underwriting can vary between insurers and policy versions. The policy wording and schedule remain the definitive contract. Novo can help you review the relevant terms for your requirement.
Read the wording, not just the brochure
The schedule and policy wording determine the actual contract.
Compare meaningful differences
Look at exclusions, limits, deductibles, conditions and claim requirements—not premium alone.
Think beyond purchase
Servicing and claims-related support can matter as much as placement.