Standalone Own Damage (OD) Bike Insurance – Complete Guide

When you purchase a motor insurance policy, it usually has two main parts – Third Party Bike Insurance and Own Damage (OD) coverage. While third-party insurance is mandatory by law, OD insurance protects your own bike against accidents, theft, and natural disasters.

In 2019, IRDAI allowed bike owners to buy Standalone Own Damage Bike Insurance separately, making it possible to choose your third-party cover from one insurer and OD cover from another.

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What is Motor Insurance & Own Damage Cover?

Motor insurance protects vehicles against financial losses from accidents, theft, and disasters. The main types include:

• Third Party Bike Insurance – Covers damage or injury to others.

• Own Damage (OD) Insurance – Covers damage to your own vehicle.

• Comprehensive Motor Vehicle Insurance – Combines both covers.

A Standalone OD Bike Insurance Policy covers:

• Accidents & collisions

• Fire and explosions

• Theft

• Natural disasters (flood, earthquake, cyclone)

• Man-made disasters (riots, vandalism)

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Benefits of Standalone Own Damage Bike Insurance

• Covers your bike’s repair or replacement costs after damage.

• Flexibility to choose from multiple motor insurance companies in India.

• Ability to renew bike insurance online separately for OD coverage.

• Add-ons available like zero depreciation, roadside assistance, and engine protection.

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Standalone OD vs Third Party Bike Insurance

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How to Buy or Renew Standalone OD Bike Insurance Online

1. Visit a trusted motor insurance company website.

2. Select “Standalone Own Damage Bike Insurance.”

3. Enter your bike details and existing third-party policy number.

4. Compare bike insurance prices and coverage benefits.

5. Make payment and get your bike insurance policy instantly.

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Motor Insurance Claim Process for OD Coverage

1. Notify your insurer immediately after damage.

2. File a claim online or via the insurer’s app.

3. Submit documents like policy copy, RC, driving license, and FIR (if required).

4. Get your bike inspected.

5. Repairs will be done at a network garage or through reimbursement.

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Conclusion

A Standalone Own Damage Bike Insurance Policy is the perfect add-on to mandatory third-party coverage. It gives you protection against theft, accidents, and disasters while allowing you to choose the best bike insurance for your needs.

For full protection, combine third-party bike insurance with OD coverage or opt for a comprehensive motor insurance policy.