Every motorist knows how crucial it is to have vehicle insurance. In India, you cannot operate your car or bike without a valid third-party liability insurance policy. Unfortunately, these insurance plans only help you cover the cost of damages to a third-party individual or their property. Damages to your vehicle will not get covered. Most Indians choose to purchase a motor insurance policy that covers both third-party liability costs and own damages. Earlier, you could only opt for a third-party only policy or a comprehensive car insurance policy that provides cover in every situation. Today, you can purchase a stand-alone own damage policy as well. Let’s take a look at how an own damage policy differs from a comprehensive car insurance policy.
Own Damage (OD) Policy
These stand-alone car insurance policies only provide cover for own damages to your vehicle. They do not include personal accident cover or cover against third-party liabilities. As a vehicle owner, you can opt to purchase two stand-alone policies for your car. One could provide just third-party cover, while the other offers cover for damages to your vehicle. You must have a valid third-party vehicle insurance policy to purchase a stand-alone own damage policy. Most often, when you attempt to buy an own damage policy, your insurer will ask you to get their third-party policy as well. So, it may make the most sense to get both policies from the same company.
Comprehensive Car Insurance Policy
On the other hand, a comprehensive car insurance policy is a bundle product. Under a single car insurance policy, you can stay secure against third-party and own damage costs. Additionally, many comprehensive plans also provide personal accident cover for the owner-driver of the vehicle. If they get involved in a fatal accident, their nominee receives the sum insured amount.
Which Is Better?
With a comprehensive car insurance policy, you only have to worry about one car insurance policy. Your paperwork reduces significantly, and the renewal process becomes quick and easy. If you opt for a comprehensive plan, look no further than Edelweiss General Insurance. When you purchase an Edelweiss Motor Insurance policy, you can customise your cover with our wide range of add-ons. Select the additional covers you like and enjoy enhanced protection all year round!
