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Shriram Own Damage Car Insurance
A standalone own-damage car insurance policy protects your car from damage caused by unexpected events. It covers losses from accidents, theft, fire, natural disasters, man-made disasters, explosions, or vandalism (when someone intentionally damages your car).
This policy helps you get financial support if your car is damaged. When you buy it together with third-party insurance, it gives you complete protection for both your car and others on the road.
Standalone Own-Damage Insurance V/S Third Party Insurance V/S Comprehensive Insurance
| Features | Own Damage | Third Party | Comprehensive |
|---|---|---|---|
| Meaning | Covers damage to your own car only. | Covers damage or injury to others caused by your car. | Covers both damage to your own car and to others. |
| Covers Your Car? | Yes | No | Yes |
| Covers Third Party? | No | Yes | Yes |
| Covers Theft, Fire & Natural Disasters? | Yes | No | Yes |
| Personal Accident Cover | No (can be added) | Yes | Yes |
| Legal Requirement | Optional | Mandatory by law | Optional, but highly recommended |
| Add-On Covers Available | Yes | No | Yes |
| Premium Cost | Medium | Low | High (more coverage) |
| Best For | People who already have third-party cover and want protection for their own car. | People are looking for only basic legal cover. | People who want full protection for both their own car and others. |
Motor Insurance Plans By Shriram
What is Covered and Not Covered Under Comprehensive Car Insurance?
What it Covers
This policy protects your car from different types of damage, such as:
Road Accidents
Covers damage to your car caused by accidents or collisions.
Theft or Fire
Covers loss if your car is stolen or damaged in a fire.
Explosion
Covers damage caused by an explosion.
Natural or Man-Made Disasters
Covers loss from floods, earthquakes, riots, or similar events.
What Does it not Cover
This policy does not cover the following situations:
Depreciation
The normal decrease in your car’s value over time.
Illegal Driving
Accidents that happen while driving without a valid licence or breaking traffic laws.
Mechanical or Electrical Failure
Problems like engine or wiring breakdowns are not covered.
Outside India
Damage or accidents that happen outside India are not included.
FAQs
Shriram Own Damage Car Insurance helps protect your car from damage due to accidents, natural disasters, fire, theft, or vandalism.
It covers damage to your car caused by:AccidentsFireTheftNatural disasters (like floods, storms)Vandalism (intentional damage)
Own damage insurance protects your own car if it gets damaged or lost in an accident, fire, theft, or other mishaps. Third-party insurance protects you if someone else’s car, property, or person is hurt or damaged in an accident caused by you.
No, it is not compulsory. Buying your own damage insurance is your choice. You can buy it only if you want extra protection for your own car.
Yes, the premium may be higher for newer cars because they have more value and cost more to repair or replace.