Policy snapshot
A motor insurance policy that covers damage to your own vehicle and can be combined with a separate third party policy.
What is Standalone Own-Damage Motor Insurance?
Standalone Own Damage Motor Insurance protects your vehicle against accidental damage, theft, fire and covered calamities while the third party policy separately covers legal liability.
What can it cover?
- Accidental damage to your vehicle
- Fire, explosion and self ignition
- Theft or total loss of vehicle
- Damage due to floods, cyclones and other natural calamities
- Damage due to riots, strikes and other covered events
Who should consider it?
- Vehicle owners who already have a valid long term third party policy
- Users wanting extra protection beyond third party cover
Key features to understand
- Flexibility to combine with existing third party cover
- Protects financial interest in the vehicle
- Eligible for no claim bonus on own damage premium
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.