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Here's What You Need to Know about Standalone Own Damage Two-wheeler Insurance Policy

By Juhi Walia
29 September 2022, 11:50 AM

Own Damage Cover assists you in protecting your expensive possessions from loss or damage caused by tragedies, whether they are natural or not. Own damage coverage is valuable, particularly when the insured two-wheeler suffers several injuries due to an accident.

In the event of unintentional damage to the insured bike, own damage insurance coverage is helpful. As you know, the necessary third-party bike insurance only pays for third-party liability resulting from unintentional harm, damage, or death. If your bike is damaged in such a situation, no coverage will be provided.

However, if you have damage insurance, you can also claim for damage to your bike.

When you purchase a two-wheeler, you might be concerned about unforeseen repair and replacement fees for accidental damages. The Standalone Own Damage bike insurance policy shields you from unexpected costs in such circumstances.

It offers financial protection if your two-wheeler sustains damage from:

  • Accidents
  • Natural calamities
  • Man-made disasters
  • Fire
  • Bike theft, etc.


Own damage coverage includes the following features in a bike insurance policy:

  • Under the terms of this insurance policy, the policyholder is protected against damages occured to his vehicles.
  • The policy offers coverage against accidents, man-made/natural calamities, fire, theft, etc.
  • Own damage coverage is extensive, and policyholders have the option to purchase extra bike insurance add-on covers to their policy to broaden the coverage.

Factors that Affect the Cost of Own Damage Insurance

The IDV and cc of your bike play a significant role in determining the rate of the standalone own damage bike insurance policy. When calculating the cost of your damage coverage, the following factors are also taken into account:

  • Bike CC: The CC of your bike determines the vehicle's speed and, in turn, its risk. So your damage premium would also depend on the cc of your motorcycle. As a result, your damage premium would be more important than your bike's horsepower, and the opposite would also be true.
  • IDV: It tells you how much your bike is worth on the open market. Therefore, the own damage premium you would pay for the insurance would be considerably impacted by your IDV.
  • No Claim Bonus: You may apply the accumulated NCB reduction in bike insurance to your current own damage premium if you formerly had damage coverage for your bike under a comprehensive bike insurance policy and haven't filed any bike insurance claims.
  • Model of Bike: The model of the insured vehicle will directly affect the price of your damaged bike insurance policy. For instance, if you owned a cheap bike, the premium you would have to pay also would be less. An expensive sports bike would, however, also be costly to insure.

Bike's Age: The bike's age significantly impacts how much the insurance premium will be. This is why every customer enters the vehicle's period to display insurance rates when purchasing an OD plan in the insurance portal. 

What is Excluded from Own Damage Bike Insurance?

When purchasing standalone own damage two-wheeler insurance, the following items are not covered:

  • Third Party Liability: Standalone own damage bike insurance exclusively covers only damages to one's vehicle. The defence against third-party losses or harm is not offered.
  • Consequential Damages: The bike's freestanding damage does not apply to subsequent damage to the bike that does not result from the collision.
  • Contributory Negligence: If the policyholder intentionally does something against the rules, the two-wheeler will not be insured. For instance, it would be dangerous if the insured kept driving their two-wheeler through torrential rain and flooded streets.

What Coverage does the Standalone Own Damage Cover  Two Wheeler Insurance Provides?

A solo OD bike insurance policy covers the following:

  1. Accidental Damages: This policy covers harm to your bike as a consequence of an accident or collision.
  2. Natural Disasters: You may safeguard your bike from damage caused by earthquakes, floods, cyclones, and other natural disasters by implementing a standalone damage plan.
  3. Human-made Disasters: The plan covers explosions, strikes, riots, and terror attacks.
  4. Theft: With a standalone damage plan, you are also insured if your bike gets stolen.
  5. Fire: This policy also covers motorcycle damage caused by fire and explosions.


Advantages include:

  1. Choice of Different Insurance: With the launch of freestanding own damage bike insurance plans, bike insurance policyholders can now select a third-party and damage insurance cover from various insurance providers.
  2. Flexibility in Plan Duration: Due to the continued existence of a long-term third-party bike insurance plan, new bike owners are no longer required to purchase a long-term comprehensive insurance policy. Instead, customers can now have a long-term third-party insurance policy and a standalone damage plan that lasts one year to five years and can be renewed annually.
  3. Affordable: The insurance has now become more affordable for policyholders with the division of the long-term insurance plan into long-term third-party insurance and short-term damage plans. Policyholders also have the choice to purchase their damage insurance from insurers offering the best insurance prices, which can boost their financial advantages.

In Review

An own damage bike insurance coverage provides the policyholder with protection for their covered bike from any losses or damages brought on by an accident or mishap.

Under standalone own-damage insurance, the insured would receive compensation for losses, such as unintentional accidents, transit damages, theft, vandalism, and natural and manufactured disasters.

However, the declared value of the insured motorcycle determines the maximum amount of compensation you are qualified to get. 

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1. What does two-wheeler own damage insurance involve?

A sort of two-wheeler insurance coverage known as own damage bike insurance cover protects only your covered two-wheeler in case of any losses or damages incurred. For example, injuries could result from an accident, a natural disaster, vandalism, theft, rioting, crashes, etc.

2. Is own damage motorcycle insurance sufficient for a bike?

It only includes coverage for damage to your bike. Thus, it does not include third-party liability cover hence offers partial protection.

3. What is IDV?

The maximum claim your insurer will pay if your bike is stolen or beyond economical repair is the "IDV." 

4. Higher IDV: Is it better?

Suppose you choose a smaller IDV in this situation, your risk increases. Although selecting a lower IDV would lower your premium, the features and benefits will be substantially less. You won't receive a reasonable claim sum if you file a claim for total damage or theft.

5. How is the IDV for a two-wheeler determined?

Your IDV may be calculated relatively easily as follows: It is the vehicle's ex-showroom price or current market worth less the depreciation on its components. The IDV does not cover the cost of registration, road tax, or insurance.

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