Own Damage Car Insurance

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Quick and hassle-free claim process

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4200+

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94%

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*The above data is till 1st May, 2024

What is Own Damage Car Insurance?

As per law, a third-party liability insurance is mandatory in India for you to drive your car on the Indian roads. Not just that, own damage car insurance policy is also considered as a prudent financial step towards safeguarding you from the huge expenses that may arise due to an accident. A third-party car insurance is a bare minimum to fulfil the mandatory regulatory requirement. However, it just protects you from the financial and legal liabilities for the damages which have been caused to other vehicles or persons. Third-party liability insurance policy does not cover the losses or damages sustained by your car for which you need an additional own-damage car insurance.

Own damage insurance is quite simple. It means coverage for the damages or losses suffered by your own car. The own damage car insurance policy covers the damages that your car might suffer due to natural or man-made calamities. For instance, if your car is damaged in an accident or it catches fire, it might require repairs. The cost of such repairs will be covered by the own damage car insurance policy. Similarly, if your car is damaged in a flood or an earthquake, the policy will cover the financial loss that you suffer due to such damages.

Thus, the standalone OD policy meaning includes coverage for the car. Besides natural and man-made calamities, the policy also extends coverage for theft. If the car is stolen, the insurance company pays a lump sum amount (equal to IDV) as claim so that you are compensated for the financial loss that you have suffered.

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Key features of own damage car insurance plan

Kotak General Insurance caters to your requirements by offering extensive features and a comprehensive insurance coverage for own damage which provide you benefits in various ways throughout the tenure of your car insurance journey. Here are some of the fimage

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Cashless servicing.

You can get cashless services in Kotak General’s extended network of garages which would allow you to enjoy quick and hassle-free service across the country.

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NCB discounts & entitlements

Own damage insurance cover is available for one year and can be renewed annually. Further, for every renewal, you can get no claim bonus discounts from 20% to 50% for every claim-free year.

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Premium discounts

Own damage car insurance policy can be bought online in just a few simple steps. You have the option to compare the available policies and plans in the market and buy the one which best suits your requirements at an affordable premium.

Benefits of own damage car insurance plan

The primary reason to buy own-damage car insurance is to secure yourself from the huge financial burden which might arise when your vehicle is damaged or stolen. However, it also serves various other purposes. Here are some of the reasons to buy own damagimage

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Damage Cover

Own damage car insurance provides complete cover to you and your vehicle against damages caused due to man-made calamities, natural calamities, theft, strike, riot damages in inland transit, etc. Hence, if you have own damage car insurance policy, you need not worry about any financial burden that may arise due to damage to your vehicle.

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Optional Add-on

Every individual has insurance requirements. To meet the individual requirements of the car owners, Kotak own damage car insurance provides an option to buy optional add-ons at an additional premium cost to extend the coverage of the policy and make it comprehensive. For example, if you want to protect your engine, you can buy engine protection cover add-on for additional security.

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Coverage against theft

There are always chances of a car being stolen. One might face huge loss in case of theft. Own damage car insurance policy pays a lump sum in the theft claim to enable you to replace your car.

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Premium discounts

Attractive premium discounts are offered on the total premium while purchasing the own damage car insurance policy. Besides no claim bonus, multiple premium discounts are offered for membership of Automobile Association, safety devices installation, voluntary deductible, etc. that help reduce your premium.

Why Do You need own damage car insurance?

The primary reason to buy own-damage car insurance is to secure yourself from the huge financial burden which might arise when your vehicle is damaged or stolen. However, it also serves various other purposes. Here are some of the reasons to buy own damagimage

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All-round coverage

It provides all-around coverage to a vehicle. Own damage car insurance the company pays for the losses or damages due to natural calamities, accidents or man-made calamities

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Saves huge repair cost:

Own damage car insurance is a great cover for the owners of premium luxury cars due to the cost of its exorbitant repairs.

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Validity

Own damage car insurance policy is valid for a tenure of one year and can be renewed for continued coverage.

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Cashless settlement

You can get your vehicle repaired by enjoying cashless settlement of claims without paying a single penny.

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Network Garages

You can repair the car at the best garages and enjoy cashless claim settlements.

Features of own damage car insurance plan

See what makes our car insurance policies stand out!image

The own damage car insurance policy has the following features

imageCoverage for own damages

The own damage insurance for car covers the damages suffered by the car. Such damages can be due to natural or man-made calamities. For instance, the own damage cover will pay for the repair costs if the car is damaged due to earthquake, flood, landslide, storm, fire, ignition, strike, riots, etc. Even if the car is totalled, the loss suffered is compensated.

imageCoverage against theft

If the car is stolen, you get compensated for the considerable financial loss that you suffer. You can use the compensation received to replace the lost car or pay off an existing car loan.

imageOptional add-ons

Different add-ons are available with own damage car insurance policies. Such add-ons are optional and help in increasing the scope of coverage at a minimal additional premium.

imageNo claim bonus

You earn a no claim bonus every year when you don’t make a claim under the own damage insurance for car. The no claim bonus can be used as a premium discount on renewals. The bonus starts from 20% and jumps to 50% after five successive claim-free years.

imagePremium discounts

You can enjoy different types of premium discounts on the own damage premium. These discounts make the premium more affordable.

imageOne-year term

The own damage cover is available for a term of one year after which you can renew it for continuous coverage.

imageCoverage for own damages

The own damage insurance for car covers the damages suffered by the car. Such damages can be due to natural or man-made calamities. For instance, the own damage cover will pay for the repair costs if the car is damaged due to earthquake, flood, landslide, storm, fire, ignition, strike, riots, etc. Even if the car is totalled, the loss suffered is compensated.

imageCoverage against theft

If the car is stolen, you get compensated for the considerable financial loss that you suffer. You can use the compensation received to replace the lost car or pay off an existing car loan.

imageOptional add-ons

Different add-ons are available with own damage car insurance policies. Such add-ons are optional and help in increasing the scope of coverage at a minimal additional premium.

imageNo claim bonus

You earn a no claim bonus every year when you don’t make a claim under the own damage insurance for car. The no claim bonus can be used as a premium discount on renewals. The bonus starts from 20% and jumps to 50% after five successive claim-free years.

imagePremium discounts

You can enjoy different types of premium discounts on the own damage premium. These discounts make the premium more affordable.

imageOne-year term

The own damage cover is available for a term of one year after which you can renew it for continuous coverage.

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Electrical accessories

Insuring your vehicle’s every need and providing comprehensive plan that covers all electrical/non-electrical accessories.

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Fire

Don’t let fire damage to your car ruin your life. Stay protected against any loss and get compensated for damages caused by fire.

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Self ignition

Get compensated for losses incurred from combustion that occurs without the use of an external heat source.

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Natural disasters

When disaster strike, we’ve got you covered. Get protected from the effects or damages due to natural disasters.

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Personal accident

Get comprehensive coverage to protect yourself and your loved ones from unpredictable events such as accidents.

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Explosion

Keeping your property safe & covered from the damages caused by rapid nuclear or chemical reactions.

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Wear, tear & general aging of vehicle

We do not cover any damages due to normal wear and tear and general aging of the vehicle

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Depreciation or consequential losses

Our coverage does not include depreciation or consequential losses (unless they are separately covered by add-ons).

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Vehicle used otherwise

We do not cover any damage caused by the vehicle being driven otherwise than in accordance with the limitations on its use.

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Mechanical/Electrical breakdown

Any damage or loss that occurred due to mechanical or electrical breakdown is not covered by us.

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Any contractual liability

You are not covered under our insurance policy for any contractual liability if you are found to be responsible for the damages.

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Influence of drugs or liquor

We do not cover damage to/by a person who is driving under the influence of drugs or alcohol.

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Vehicle without valid license

Please keep in mind that we do not cover damage to/by a person who is not licensed to drive the vehicle or had an invalid license.

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Nuclear risk or war

We do not cover damage due to nuclear risk or war. We do, however, cover all other risks as mentioned in our Terms and Conditions of Service

Add–ons available with car insurance policy by Kotak

Customize your coverage with our amazing add-ons - they're like bonus features for your car protection!image

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Consumables Cover

Consumable covers provide coverage for the cost of the consumables which are incurred at the time of repair of your vehicle. The cost of consumables is excluded from the general coverage of the insurance policy but can be brought as an add-on.

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Depreciation Cover

The insurance company in case of a claim considers the cost of depreciation of your vehicle and pays a lower value after deducting the depreciation of your asset. However, if you buy a depreciation cover add-on, the insurance company would not deduct the depreciation from the replaced or repaired parts and settle your claim with a higher amount.

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Engine Protect

The cost of repair of the engine is not covered in the own-damage car insurance policy. You can buy an engine protection add-on to extend the coverage to the car’s engine for damages due to water seepage.

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Return to Invoice

Return to invoice add-on enables you to get the difference between the Insured’s Declared Value (IDV)of the insured vehicle and the Purchase Invoice Price of the insured vehicle in the event of theft or total loss of your vehicle due to fire or any other calamity

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Tyre Cover

Tyre protection cover add-on covers losses or damages to the tyres of your vehicle

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24X7 Roadside Assistance

24 * 7 roadside assistance cover provides around-the-clock assistance to help you if your car breakdowns in the middle of the road.

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Daily Car Allowance

This add-on covers the cost of the hired transportation during the period when your car is broken down, damaged or stolen and is getting repaired at the garage

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NCB Protect

No claim bonus can be availed only for the claim-free years and lapses in the year when you make a claim. However, with NCB Protect add-on, you can protect your no-claim bonus even after claiming any of the policy years.

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Loss of Personal Belongings

This add-on covers the financial damages suffered by you if you have lost your belonging in the car.

Steps to buy car insurance online from Kotak

Hassle-free insurance at your fingertips with our easy and fast online processimage

Get All-round protection for your precious vehicle in a few steps. We at Kotak General Insurance understand the value of your time and have simplified the car insurance buying process to a few simple steps.

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Click on the "Get a Car Insurance Quote" button on the Kotak Car Insurance Page

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Fill in your car details such as registration number, model, make etc.

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Fill in you personal details and make the payment online.

How to get an online quote for car insurance

See how simple it is to get a car insurance quote with usimage

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Visit kotak general insurance website

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Log in to your Kotak general insurance profile using the OTP sent to your mobile number

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Fill in your details such as car registration number, mobile number and email id (optional).

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Click on the "Get A Quick Quote" button on the Kotak Car Insurance Page and review coverage

How to buy insurance for a new car

We'll walk you through buying insurance for your new carimage

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Click on the "Get a Car Insurance Quote" button on the Kotak Car Insurance Page

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Fill in the required details such as registration number, model, make, etc.

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Fill in you personal details and make the payment online.

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Kotak Car Insurance Reviews & Ratings

Look what they have to say

Kotak Car Insurance Reviews & Ratings

Look what they have to say

We are very happy if you are satisfied with our service and products. Let's read pure reviews from customers who bought our products.

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Car Insurance

Entire process starting from claim registration to the completion was very speedy and smooth. After claim registration I did not need to talk or remind the company. It was my first experience of its kind which I felt wonderful. Thanks Kotak General Insurance!

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Car Insurance

The overall process was very smooth and professional. Minimal documentation and process. Liked the Professionalism and proactiveness of the employees in Kotak. Thanks for the support.

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Car Insurance

Very satisfying first experience with Kotak. Likely to renew the policy with Kotak.

Tips to choose the right own-damage car insurance plan

Tips on how you can select the best own-damage car insurance policy for your car is discussed as follows:image

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Before you finalize your policy, ensure to check the coverage of the policy and compare the premium vis-à-vis the coverage.

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Select own-damage car insurance policy which gives a high insured declared value so that you get a maximum claim in the event of theft or loss of your vehicle

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You should compare the available plans in the market and then select the one which best suits are requirements at affordable premium

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Check the network of cashless garages

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Check the premium discounts available with the plan so that you can save more on the premium cost

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Do not forget to claim your no-claim bonus at the time of renewal of your own-damage car insurance policy for every claim-free year and try not to make an unnecessary claim to save the no-claim bonus discount.

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Read the policy document carefully and check the exclusions to avoid rejection of your claim

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Buy personal accident cover with your policy to get a considerable sum assured at a low premium to meet the accidental emergencies and get additional coverage.

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Check the available add-ons to extend the coverage of your policy and make it comprehensive.

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Steps to renew car insurance policy online from Kotak

Follow these quick steps to renew your car insurance policy and keep your car protected alwaysimage

Your car insurance is just a click away. Visit the Kotak Car insurance page to get your car insurance quote.

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Visit https:www.kotakgeneral.com/renewal and choose the car insurance policy that you want to renew

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Enter your policy number and mobile number and click on ‘Submit’.

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Your policy number will be verified and you will be able to check the details of your existing policy. You can continue to renew renew the existing policy or make changes.Your policy number will be verified and you will be able to check the details of you

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Pay the renewal premium and your policy will be done instantly!

How to file a car insurance claim at Kotak

Filing a claim has never been this easy – we made sure of itimage

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Call us on 1800 266 4545 (8 a.m. – 8 p.m.) and intimate us about your claim with the details of your policy.

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Once your claim is registered, our customer support executive will provide you with a Claim Reference Number.

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You will be required to submit the relevant documents, which may include your Driving License, RC Copy, and Policy FIR Copy, in accordance with the Policy terms and conditions.

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An arrangement will be made by us for an inspection, it will be conducted within 24 hours if a claim is reported on a working day, or the next working day if the claim is reported on a Sunday or a public holiday.

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On cashless facility confirmation, the vehicle can be repaired at a preferred network garage, on payment made directly to the garage.

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You will only be required to pay the deductible as mentioned in the policy, and the depreciation value, salvage, etc., as informed by the surveyor.

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Call us on 1800 266 4545 (8 a.m. – 8 p.m.) and intimate us about your claim with the details of your policy.

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Once your claim is registered, our customer support executive will provide you with a Claim Reference Number.

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You will be required to submit the relevant documents, which may include your Driving License, RC Copy, and Policy FIR Copy, in accordance with the Policy terms and conditions.

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An arrangement will be made by us for an inspection, it will be conducted within 24 hours if a claim is reported on a working day, or the next working day if the claim is reported on a Sunday or a public holiday.

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The vehicle can then be repaired by the insurer followed by the payment for the same by the insurer.

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Submit all bills, payment receipt along with your policy details to us, and we will make the payment within 7 working days of completion of the documentation

List of documents required for filing a car insurance claim

Get familiar with the documents needed for speedy claim processimage

Documents required for car insurance claim

To raise a motor insurance claim under different situations mentioned above, you will require the following documents.

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Registration Certificate (RC) Copy

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Policy Copy

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Policy holder's valid ID proof

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Drivers Driving license

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FIR Copy (In case of theft and TP claim)

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Duly filled Claim form

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Any further requirements will be conveyed basis inspection

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How to download Your policy copy

Here is your step-by-step guide to access your policy copyimage

Losing your car insurance policy may lead you to pay heavy fines, although you have one. But now, you can immediately download your car insurance policy copy from our website.

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Enter your policy number

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Enter your registered mobile number Or your registered email Id

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Click on Get OTP

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Type the OTP and click on download car insurance policy document

Kotak General Insurance cashless network garages

Our cashless network garages makes roadside assistance a sleek experience at the time of uncertaintyimage

Buying a car insurance gives access to cashless network garages which provides convenience and hassle-free car repairs covered by Kotak General Insurance without the need for upfront payment.

Car Insurance glossary

There's always more to know about Car Insuranceimage

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Insured declared value (IDV) in car insurance

The Insured Declared Value (IDV) is the insurer's maximum coverage for a vehicle during a policy period. It is calculated using the vehicle's selling price and depreciation, and serves as compensation in case of total loss.

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No claim bonus (NCB) in car insurance

The No Claim Bonus is the discount on the own damage portion on the premium offered to the policyholder from the car insurance company for responsible driving and not filing damage claims during the preceding policy year.

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Zero depreciation in car insurance

Zero Depreciation Cover is an add-on wherein the entire claim amount is settled by the car insurance company without factoring in depreciation value of the insured car. This cover is applicable to vehicles that are less than 5 years old.

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RTO stands for Regional Transport Office and is a government body responsible for vehicle registration and issuance of driver’s licenses. Also, the RTO in each state is responsible for maintaining the database of its drivers and vehicles.

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Own Damage Car Insurance - Frequently Asked Questions

No, you can buy a standalone own damage cover and a third-party cover from different insurers. However, the standalone own damage cover is issued only if you already have a third-party cover on the car.

The personal accident cover is an optional feature that you can add to your own damage cover. The coverage is not inbuilt. The personal accident cover is also a mandatory requirement like a third-party cover. However, if you have an existing personal accident cover, you can skip the coverage with the own damage plan.

Own damage in car insurance means the damages that the car suffers or the theft of the car. The own damage car insurance policy covers such damages and theft of the car and provides financial compensation in car-related losses.

No, you need to have a third-party cover first and then you can buy only the own damage cover on a standalone basis.

No, the own damage insurance coverage is not enough. You need the mandatory third-party liability coverage too so that you can drive the car legally.

The OD car policy is suitable for every car owner especially those who have new or premium cars.

Product

UIN No.

Kotak Car Secure - OD Only

IRDAN152RP0012V02201920

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