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Standalone Own Damage in Brief

Neither do you have to worry about any discomfort nor do you have to stick to stringent timelines while driving your own car. You can travel according to your comfort and convenience; however, you will have to be careful about your car insurance. Car insurance is an agreement between the insurance provider and the car owner through which the insurance provider provides coverage against any losses or damage caused to the car in an accident or natural/manmade disasters. Unlike the third-party liability car insurance, Own Damage car insurance is considered optional. However, it is quite necessary that you purchase Own Damage car insurance, as it will help you in obtaining cover against the damages caused to your car during an accident or natural/manmade disaster.

Any bodily injuries, disablement or accidental death, which needs hospitalisation and other medical facilities are covered under the car insurance policy in the form of Personal Accident Cover. Car insurance will bring you peace of mind and a stress-free ride on the roads.

Stand-Alone Own Damage Plan and Its Benefits

The own damage cover plan is a part of the comprehensive car insurance policy. This implies that the third party liabilities cover and Own Damage cover would be present together in one policy in the form of a package.

Earlier, third party car insurance policy was available independently or separately but if you intend to purchase an Own Damage policy then you cannot do that separately. An Own Damage car insurance policy must be bought along with a third-party car insurance policy.

But, according to the new guidelines issued by the IRDAI, third party car insurance policy and own damage policy can be purchased separately. This is why the Own Damage policy has been termed as ‘Stand Alone own damage’ policy.

a. Stand-alone own damage plan can help in providing cover against damage caused to your car due to an accident.

b. This plan will also help in providing cover for your car against natural disasters like earthquakes, storms, floods, landslides, etc.

c. Stand-alone own damage plan can also cover your car against manmade disasters like theft, vandalism or robbery.

Recent Regulations on Stand-Alone Damage Plan

a. According to the IRDAI guidelines, insurance providers are not permitted to offer long term stand-alone own damage policy which lasts 3 years for cars. You can renew your stand-alone own damage policy from the same insurance provider or some other insurance provider.

b. Stand-alone Own Damage policy will be offered to you only if you already have a third party motor insurance or you are taking it simultaneously.

c. Another condition for selling stand-alone Own Damage plan is that the name of the insurance provider, policy number, start and end date of the third-party liability policy that has already been purchased by you must be mentioned in the Own damage plan document.


Accidents never happen with prior notices and accidents do occur even if you take all the necessary precautions. Hence, it is wiser to purchase a stand-alone own damage plan to ensure the all-round safety of your car.

Disclaimer:The above information is for illustrative purposes only. For more details, please refer to policy wordings and prospectus before concluding the sales.

This blog has been written by

S. Gopala Krishnan | Motor Insurance Expert | 40+ years of experience in insurance industry

A veteran in insurance industry. S. Gopala Krishnan is a name to reckon with in the field of reinsurance, he has headed the Reinsurance department and has rich experience in other fields of motor insurance. He loves to share his opinion on latest topics in the insurance industry and how he can help people in safeguarding their assets using insurance products.

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