What is Own Damage Bike Insurance?

1 It Gives You Financial Help

One of the biggest benefits of Own Damage Bike Insurance is financial support. If your bike gets damaged due to an accident, fall, fire, flood, or any other covered reason, the insurance helps pay for the repair or replacement of damaged parts.

2 It Offers Extensive Coverage

Unlike third-party insurance, which only protects other people and their property, Own Damage insurance gives wider protection. It covers your own bike against many risks like accidents, theft, natural disasters, and man-made events. This makes it a more complete and useful cover for bike owners who want better protection for their vehicle.

3 It Gives the Benefit of Add-Ons

Own Damage Bike Insurance also gives you the option to choose add-on covers. These add-ons help increase the protection of your policy. For example, you can add covers like zero depreciation, engine protection, or roadside assistance. The good part is that these add-ons are available at an affordable cost and can be chosen based on your needs.

4 The Premiums are Based on Risk Profile

The premium for Own Damage Bike Insurance is decided based on factors like your bike’s model, age, location, and usage. Since it offers wider coverage, the premium is usually higher than third-party insurance. However, the premium is reasonable because it protects your bike from many risks and helps you avoid big repair expenses later.

5 It Gives an Annual Renewal

Own Damage Bike Insurance is usually valid for one year and needs to be renewed every year. Annual renewal allows you to review your coverage, change add-ons if needed, and continue enjoying protection without any break.

• Natural Disasters: If your bike is damaged by floods, cyclones, earthquakes, or other natural events, the insurance helps pay for repairs.
• Accidental Damages: If your bike has an accident or falls, the cost to repair or replace damaged parts is covered.
• Man-Made Damages: Damage caused by riots, vandalism, or terrorist attacks is also covered by your OD insurance.
• Theft or Malicious Acts: If someone intentionally damages your bike or steals it, the insurance helps reduce your financial loss.
• Fire & Explosion: If your bike is damaged by fire or an explosion, the repair costs are covered.
• Damage Beyond Repair: If your bike is completely damaged and cannot be repaired, your OD plan will cover the loss (check your policy for exact terms to know more about this).

• Normal Wear and Tear: Regular damage like scratches, worn-out tires, or old parts breaking down is not covered.
• Mechanical or Electrical Failures: Problems in the engine or electrical parts due to normal use are not included.
• Riding Without a License: If you ride your bike without a valid license and get damaged, the insurance will not pay.
• Riding Under the Influence of Alcohol: Damage caused while riding under alcohol or drugs is not covered.
• Intentional Damage by Policyholder: If you damage the bike on purpose, insurance will not cover it.
• Damage During Racing or Stunts: Any accidents during racing or stunt riding are excluded.
• Accessories Not Listed in Policy: Extra parts or modifications not mentioned in the policy may not be covered.

• Zero Depreciation Cover Normally, insurance pays less for damaged bike parts because of depreciation (wear and tear). With zero depreciation cover, the insurance pays the full cost of replacing parts like plastic, rubber, or metal. This is very useful for new or expensive bikes.
• 24×7 Roadside Assistance If your bike breaks down while riding, this add-on helps you on the road. You can get support for flat tires, a dead battery, minor mechanical issues, running out of fuel, or towing to a garage. It is very helpful for people who ride long distances or at night.
• Engine Protection Cover Standard insurance may not cover engine damage caused by water, oil leaks, or lubrication issues. Engine protection cover pays for these damages, which can be very expensive. It is especially useful during the monsoon or in flood-prone areas.
• NCB Protection Cover NCB stands for No Claim Bonus. If you don’t make any claims in a year, you get a discount on your premium. With this add-on, even if you make a small claim, you don’t lose your bonus. It helps you save money on renewals.
• Return to Invoice Cover Normally, if your bike is stolen or totally damaged, insurance pays the current market value, which may be less than what you paid. With a return to invoice cover, you get the original price of the bike, including registration and road tax. This helps you replace your bike fully.
• Consumables Cover Small items like engine oil, nuts, bolts, brake oil, and coolant are usually not covered. With consumables coverage, these small but essential costs are paid by insurance during repairs, so you don’t have to pay from your pocket.
• Personal Accident Cover for Owner-Driver This add-on gives financial support if the bike owner gets injured, disabled, or dies in an accident. It can help cover medical bills or support your family. This is a very important cover for safety.
• Pillion Rider Cover This is like personal accident cover, but for the person riding with you. It provides financial help if the pillion rider is injured or dies in an accident. It is very useful if you often travel with family or friends.