How much does standalone own-damage car insurance cost?

The premium depends on the car, IDV, location, applicable rating factors and selected add-ons. Obtain a current quote for the vehicle.

Can I add zero depreciation cover?

It may be available for eligible vehicles and policies. Confirm availability, limits and terms with ICICI Lombard when requesting a quote.

ICICI Lombard Standalone Own-Damage Car Insurance

Standalone Own-Damage Car Insurance Overview

ICICI Lombard Standalone Own-Damage Car Insurance is designed to cover eligible damage to the insured car from events specified in the policy. Depending on the issued wording, covered events may include accidents, theft, fire, natural calamities and specified man-made incidents. This policy type does not replace the legally required third-party liability policy, which must be maintained separately. The premium depends on vehicle details, insured declared value, location and selected covers.

Protection for insured damage to your own car

Expert Review of Standalone Own-Damage Car Insurance

Standalone own-damage cover is relevant when a car owner already has valid third-party insurance and wants separate protection for damage to their own vehicle. Before buying, check the policy period, IDV, deductibles, depreciation provisions, exclusions and claim process. Confirm that the separate third-party policy remains valid for the required period. Optional add-ons should only be selected after checking their availability and terms for the vehicle.

Pros

Provides own-vehicle damage protection without requiring a comprehensive package policy.
Can cover eligible losses such as accidental damage and theft under the policy terms.
Eligible add-ons may extend protection for specified expenses or situations.

Cons

Third-party liability protection is not included and must be maintained separately.
Deductibles, depreciation and exclusions may leave some repair expenses payable by the owner.
Add-ons can increase the premium and may have eligibility restrictions.

About ICICI Lombard (Insurer Profile)

ICICI Lombard

Key Insights

Founded

2001

ICICI Lombard was established 25 years ago and has built strong credibility over time, backed by its long-standing presence in the market.

Claims Experience

97.9% CSR, calculated as a 3-year average

ICICI Lombard settles 97.9% of all claims it receives, demonstrating strong credibility.

Contact Details

1800 2666

Headquarters: ICICI Lombard House, 414, Veer Savarkar Marg, Near Siddhi Vinayak Temple, Prabhadevi, Mumbai - 400025, India

Standalone Own-Damage Car Insurance Features and Benefits

Accidental damage

Covers eligible accidental damage to the insured car as defined in the issued policy.

Deductibles and policy conditions apply.

Theft

Provides cover for eligible theft losses involving the insured vehicle.

Claim documentation and policy conditions apply.

Fire and specified natural calamities

May cover insured damage caused by fire, flood, storm and other specified events.

Refer to the policy wording for covered events and exceptions.

Insured Declared Value

The IDV is relevant to vehicle valuation and eligible total-loss or theft claims under the policy.

Check the declared value and applicable settlement terms.

Repair claim process

Eligible own-damage repairs are assessed under the insurer claim process.

Approval, documentation and garage conditions apply.

Separate third-party insurance

Standalone own-damage cover does not itself provide third-party liability protection.

Maintain valid third-party cover separately.

Add-ons of Standalone Own-Damage Car Insurance

Zero Depreciation Cover

May reduce depreciation deductions on eligible replaced parts for admissible claims.

Confirm current availability, eligibility and limits.

Engine Protection

May cover specified engine-related damage where offered and included in the policy.

Optional; check the exact terms and exclusions.

What Standalone Own-Damage Car Insurance Does Not Cover (Exclusions)

Conditions or treatments that the policy clearly says it will not cover.

Normal wear and tear and routine deterioration are generally excluded.
Mechanical or electrical failure is generally excluded unless covered by a specific applicable provision.
Claims involving policy breaches or other circumstances listed in the policy wording may be excluded.

Disclaimer: For illustration purposes only - exact terms are in the policy wording.

What's missing in Standalone Own-Damage Car Insurance

Confirm that a valid third-party policy is in force for the required period.
Mechanical or electrical breakdown is generally not covered unless specifically provided by an applicable cover.
Review IDV, deductibles and depreciation provisions to understand potential out-of-pocket costs.

Standalone Own-Damage Car Insurance FAQs

What is standalone own-damage car insurance?

It provides cover for eligible damage to your own car. Third-party liability insurance is separate and must be maintained as required by law.

Does standalone own-damage insurance cover theft?

Eligible theft losses may be covered subject to the policy wording, documentation and claim conditions.

Is third-party insurance also required?

Yes, valid third-party motor insurance is generally legally required for cars used on public roads in India. Standalone own-damage cover does not replace it.