What is Own Damage Insurance?
Own Damage Insurance is a type of car insurance policy that provides coverage for damages caused to your car due to accidents, theft, or natural calamities. This policy does not provide coverage for damages caused to third-party vehicles or property. In other words, it only covers damages caused to your car and not to third-party vehicles or property.
Benefits of Own Damage Insurance
- Comprehensive Coverage: Own Damage Insurance provides comprehensive coverage for damages caused to your car due to accidents, theft, or natural calamities, ensuring that you do not have to bear the financial burden of repair or replacement costs.
- No-Claim Bonus: The policy provides a No-Claim Bonus (NCB) for every claim-free year, which can help reduce the premium for the policy.
- Add-on Covers: You can opt for add-on covers like Zero Depreciation Cover, Roadside Assistance, or Personal Accident Cover to enhance the coverage of your policy.
- Peace of Mind: Own Damage Insurance provides peace of mind, knowing that you are financially protected against damages caused to your car due to accidents, theft, or natural calamities.
- Flexibility: Own Damage Insurance provides flexibility, allowing you to customize your policy as per your needs and budget.
Conclusion
In conclusion, Own Damage Insurance is an essential investment for all car owners as it provides comprehensive coverage for damages caused to their vehicles due to accidents, theft, or natural calamities. The policy provides a No-Claim Bonus, offers the option to opt for add-on covers, and provides peace of mind. If you want to protect your car from financial losses due to damages, consider investing in Own Damage Insurance.