Standalone OD for Motor PC
Motor Insurance Policy
Standalone OD for Motor PC
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
Commercial Vehicle
Two Wheeler
Standalone CPA cover
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