Your car can face the unexpected. Own Damage cover protects it.
Own Damage Insurance is one of the most important concepts to understand when buying motor insurance. But what exactly does it cover? And how is it different from third-party insurance? Let's make it simple.
Third-party cover protects you from certain liabilities to others.
Own Damage cover is about protecting your insured vehicle against covered losses. That's the simplest way to remember the difference.
So, what is Own Damage Insurance?
Think of it as protection for your own vehicle.
Own Damage Insurance provides cover for specified losses or damage to your insured vehicle, subject to the policy's terms, conditions, exclusions and applicable deductibles. Depending on the policy, covered events may include accidental damage and certain other insured risks.
What can Own Damage cover?
Coverage depends on the specific policy. Common examples include the following insured risks.
Accidental Damage
Damage to the insured vehicle resulting from a covered accident may be covered, subject to policy terms.
Natural Events
Certain losses caused by specified natural events may be covered, depending on the policy.
Fire & Related Risks
Damage caused by covered fire-related events may be included under the own-damage policy, subject to terms.
Theft
Theft of the insured vehicle may be covered under applicable own-damage or comprehensive policy terms.
Not Everything Is Covered
Wear and tear, certain mechanical failures, exclusions, deductibles and other limitations may apply. Always read the policy wording.
Policy Terms Matter
The exact scope of protection differs between insurance products. Coverage should always be checked against the actual policy document.
Let's make it real. Your car gets damaged.
This is where the difference between third-party-only insurance and own-damage protection becomes important.
You have an accident.
Your insured car suffers damage in the accident. You now have a repair bill to consider.
A covered loss may be considered under the own-damage section of your policy, subject to deductibles, exclusions and claim conditions.
Own Damage vs Third-Party
The names tell you where the protection is focused.
Protection for liabilities to others.
Third-party insurance primarily covers specified legal liabilities arising from third-party injury, death or property damage.
- ✓ Third-party liability protection
- — Generally does not cover your own vehicle damage
- ✓ Legally required third-party cover
Protection for your insured vehicle.
Own Damage cover protects the insured vehicle against covered losses, subject to the policy's terms and conditions.
- ✓ Protection for specified own-damage losses
- ✓ Can cover accidental damage
- ✓ May be available as standalone own-damage cover
What are you trying to understand?
Tap a topic for the simple explanation.
Accidental Damage
Damage to your insured vehicle from a covered accident may be considered under Own Damage cover, subject to the policy terms, deductibles and exclusions.
Own Damage Insurance — FAQs
Protect the car. Understand the cover.
Motor insurance is easier when you understand what you're actually paying for.
Talk to Us on WhatsAppYour car can face the unexpected. Own Damage cover protects it.
Own Damage Insurance is one of the most important concepts to understand when buying motor insurance. But what exactly does it cover? And how is it different from third-party insurance? Let's make it simple.
Third-party cover protects you from certain liabilities to others.
Own Damage cover is about protecting your insured vehicle against covered losses. That's the simplest way to remember the difference.
So, what is Own Damage Insurance?
Think of it as protection for your own vehicle.
Own Damage Insurance provides cover for specified losses or damage to your insured vehicle, subject to the policy's terms, conditions, exclusions and applicable deductibles. Depending on the policy, covered events may include accidental damage and certain other insured risks.
What can Own Damage cover?
Coverage depends on the specific policy. Common examples include the following insured risks.
Accidental Damage
Damage to the insured vehicle resulting from a covered accident may be covered, subject to policy terms.
Natural Events
Certain losses caused by specified natural events may be covered, depending on the policy.
Fire & Related Risks
Damage caused by covered fire-related events may be included under the own-damage policy, subject to terms.
Theft
Theft of the insured vehicle may be covered under applicable own-damage or comprehensive policy terms.
Not Everything Is Covered
Wear and tear, certain mechanical failures, exclusions, deductibles and other limitations may apply. Always read the policy wording.
Policy Terms Matter
The exact scope of protection differs between insurance products. Coverage should always be checked against the actual policy document.
Let's make it real. Your car gets damaged.
This is where the difference between third-party-only insurance and own-damage protection becomes important.
You have an accident.
Your insured car suffers damage in the accident. You now have a repair bill to consider.
A covered loss may be considered under the own-damage section of your policy, subject to deductibles, exclusions and claim conditions.
Own Damage vs Third-Party
The names tell you where the protection is focused.
Protection for liabilities to others.
Third-party insurance primarily covers specified legal liabilities arising from third-party injury, death or property damage.
- ✓ Third-party liability protection
- — Generally does not cover your own vehicle damage
- ✓ Legally required third-party cover
Protection for your insured vehicle.
Own Damage cover protects the insured vehicle against covered losses, subject to the policy's terms and conditions.
- ✓ Protection for specified own-damage losses
- ✓ Can cover accidental damage
- ✓ May be available as standalone own-damage cover
What are you trying to understand?
Tap a topic for the simple explanation.
Accidental Damage
Damage to your insured vehicle from a covered accident may be considered under Own Damage cover, subject to the policy terms, deductibles and exclusions.
Own Damage Insurance — FAQs
Protect the car. Understand the cover.
Motor insurance is easier when you understand what you're actually paying for.
Talk to Us on WhatsApp