Third-party (TP) insurance covers injury/death or property damage you cause to others; it is mandatory to drive legally on public roads. Own-damage (OD) cover pays for loss or damage to your vehicle from accidents, fire, theft, etc. A comprehensive policy bundles TP + OD (and may bundle personal accident cover as per product).
IDV and premium
Insured Declared Value (IDV)approximates your vehicle's market value for total-loss claims. Very low IDV reduces premium but also claim payout; very high IDV may not be accepted by underwriting. Compare quotes on a similar IDV basis.
No-claim bonus (NCB)
NCB is a discount on OD premium for claim-free years. It can transfer when you switch insurers or buy a new car—keep prior policy and NCB certificate. A claim in a policy year typically resets or reduces NCB per insurer rules.
Popular add-ons
- Zero depreciation—full claim on rubber, plastic, fibre parts subject to age/usage caps in wording
- Engine protect for hydrostatic loss where covered
- Roadside assistance, consumables, return to invoice
Each add-on increases cost—match to vehicle age, geography (flood-prone areas), and usage.
Claims and garages
Cashless repairs use insurer network garages; reimbursement works if you repair outside network per process. For accidents, FIR where required, photos, and timely intimation matter. Do not admit fault informally; follow insurer guidance.
Renewal and break in cover
Lapsed motor policy can mean inspection and loss of NCB continuity. Renew before expiry; for long breaks, TP-only may be available but OD reinstatement needs fresh underwriting.
Disclaimer
Aroundu Wealth Capital provides educational information and advisory support. We are not an insurer. Coverage and exclusions are defined in your policy. Nothing here is an insurance offer.