Standalone OD for Motor PC

Motor Insurance Policy

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What is Standalone Own Damage (SAOD) Insurance?

A Standalone Own Damage policy protects your vehicle against loss or damage, if you already have a valid Third-Party insurance policy. It covers accidental damage, theft, fire, natural calamities, and malicious acts.

Who Can Buy This Policy?

Any vehicle owner whose vehicle is registered in India and already has an active Third-Party Liability policy.

What Does the Policy Cover?

Coverage	What’s Included
Accidental Damage	Covers repair expenses due to collision or road accident
Theft / Total Loss	Compensation up to IDV if the vehicle is stolen or beyond repair
Natural Calamities	Flood, earthquake, cyclone, landslide, tsunami, etc.
Man-Made Events	Riots, strikes, vandalism, terrorism, etc.
Fire & Explosion	Damage due to fire, self-ignition, or explosion
Note: Third-Party liability is not included under SAOD. It must be purchased separately.

What Affects the Premium?

Insured Declared Value (IDV)
Engine cubic capacity (CC)
Age of vehicle
Geographical zone
Add-on covers chosen

How is the IDV (Sum Insured) Decided?

IDV is the current market value of the vehicle after applying standard depreciation as per rules.

Vehicle Age	Depreciation %
0 – 6 months	5%
6 – 12 months	15%
1 – 2 years	20%
2 – 3 years	30%
3 – 4 years	40%
4 – 5 years	50%
For vehicles older than 5 years or discontinued models, IDV is mutually agreed upon between insurer and owner.

What is Not Covered?

Intentional damage
Driving under alcohol or drugs
Racing, speed testing, illegal use
Normal wear & tear or mechanical breakdown
Damage when driven without a valid licence
Commercial use (if insured as private vehicle)
Unapproved vehicle modifications

How to File a Claim?

Accident Damage

Inform insurer immediately.
Submit claim form, RC, driving licence and repair estimate.
Vehicle survey is conducted by the insurer's surveyor.
Submit final repair bills and supporting documents.
Claim amount is settled as per policy terms (less excess/depreciation where applicable).

Theft

File FIR with the police immediately.
Inform insurer and submit FIR copy.
Provide Final Police Report (investigation closure report) to insurer.
Transfer RC & hand over keys (as per insurer's process).
Claim is settled as per IDV and policy terms.

Documents Required for Claim

Policy copy & premium receipt
Duly filled claim form
Driving licence
Registration Certificate (RC)
Repair estimate & final bills
FIR / Panchanama (where applicable)
Road tax / permit / fitness certificate (if applicable)
Any other document requested by insurer

FAQs

Q1. Is SAOD mandatory? No. Only Third-Party insurance is compulsory by law. SAOD is optional but recommended.
Q2. Do I need SAOD if I already have a Comprehensive Policy? No. Comprehensive insurance already includes own damage cover.
Q3. What is No Claim Bonus (NCB)? A discount on premium for every claim-free year. Maintaining a good claim record can significantly reduce your premium over time.
Q4. What portion of the claim do I have to pay? Compulsory excess, depreciation (if applicable) and salvage (if retained) may be deducted from the claim amount.
Q5. What are the major exclusions under stand-alone OD Policy? Damage caused due to: driver under intoxication, vehicle driven by a person not holding an effective valid licence, damage to tyres (unless vehicle is damaged at the same time), wear and tear and mechanical breakdown damages, etc.

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