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Who Should Purchase a Standalone Own-Damage Car Insurance


Written by Sharad Bajaj

Updated Oct 15, 2023

Who Should Purchase a Standalone Own-Damage Car Insurance

Own-damage car insurance policy is a crucial form of insurance as it is designed to protect your insured car from damages and losses caused due to several reasons such as accident, theft, vandalism, fire, natural calamity, and man-made disaster. As per the Indian Motor Tariff, all car owners are at least needed to be equipped with the basic level of car insurance policy which is known as the third-party liability insurance policy. The liability only cover tends to cover damages incurred by the third party only, therefore, despite not being mandated by the law, the standalone own-damage insurance cover becomes a vital cover to own for your expensive car.

Who Is Eligible to Purchase an Own-Damage Car Insurance?

The standalone own-damage car insurance holds similar coverage as applicable under the comprehensive car insurance, other than the third party insurance cover. The introduction of standalone own-damage for cars is allowed by the Insurance Regulatory and Development Authority of India (IRDAI) to make people insure their cars who only possess the third party cover.

Due to the compulsion to own a third party car insurance, many car owners buy the long-term third party cover while buying the car, due to which they get deprived of a cover to secure their own cars. With the launch of standalone own-damage cover in September 2019, the car owners holding a third party cover can also buy standalone own-damage insurance to cover damages and losses sustained by their cars as well.

Who Should Get a Standalone Own-Damage Car Insurance?

When it comes to buying a standalone own-damage car insurance cover, you already need to have a third party insurance cover, then only you can get an own-damage cover to protect your car from damages as well as losses. The policyholders who own a new car or which is not too old should get standalone own-damage car insurance as they may bring you more financial as well as emotional loss. On the contrary, you can avoid buying it in case you have an old car which you are already in a mood to get rid of soon. In addition to these, people who do not wish to carry the burden of comprehensive cover can opt for this cover, which they can cancel anytime keeping only the third party car insurance cover.

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 plan is not compulsory but crucial to be owned by every car owner. In this article, we tried to point out the situations and people who can buy their own-damage insurance cover and who should opt for it. Whenever you are up to buy an own-damage cover, we hope the details given in this article will help to find the right situation to opt for the plan.


Written by Sharad Bajaj

Sharad is an insurance industry veteran who has managed motor insurance products for over a decade. Read More


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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