Standalone OD

.Standalone Own Damage (SAOD) Insurance 

Standalone Own Damage (SAOD) insurance protects your vehicle against loss or damage if you already have an active Third-Party insurance policy.

Who Can Buy?
Any vehicle owner in India with a valid Third-Party Liability policy.

Coverage Includes

• Accidental damage and repair costs
• Theft or total loss compensation (up to IDV)
• Natural calamities (flood, earthquake, cyclone, etc.)
• Riots, strikes, vandalism, and malicious acts
• Fire, self-ignition, and explosion damage

Note: Third-party liability is not included and must be purchased separately.

Premium Depends On

• Insured Declared Value (IDV)
• Engine capacity (CC)
• Vehicle age
• Geographical zone
• Add-on covers selected

IDV (Sum Insured)
IDV is the vehicle’s current market value after depreciation:

• Up to 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 above 5 years, IDV is decided mutually between insurer and owner.

Not Covered

• Intentional damage
• Driving under alcohol/drugs
• Racing or illegal use
• Normal wear & tear
• Driving without a valid licence
• Commercial use of private vehicles
• Unapproved modifications

Product
Stand-Alone Motor Own Damage Policy for Two Wheelers
UIN: IRDAN190RP0002V01201920