New India Assurance Pay As You Drive – Standalone OD

New India Assurance Pay As You Drive Standalone Own Damage Policy for Private Cars is designed for eligible private car owners who already have valid third-party liability insurance. The policy covers specified own-damage losses such as accidental damage, theft, fire, natural calamities and covered man-made events, subject to its wording. At inception, the insured declares the odometer reading and selects an applicable kilometre slab from the options offered by the insurer. An eligible mileage-based discount on basic own-damage premium may be available at renewal, subject to actual kilometres driven, mileage verification and the insurer’s renewal conditions. This standalone policy does not itself provide third-party liability cover. Premium depends on vehicle details, IDV, applicable rates, selected mileage slab and optional covers.

This PAYD standalone own-damage variant may suit car owners who already maintain third-party insurance and want their own vehicle protected while their mileage is relatively predictable. It is important to distinguish the mileage-based renewal benefit from an upfront guaranteed discount: eligibility depends on the insurer’s rules and verified usage. Confirm the third-party policy remains valid, choose a realistic mileage slab and review the IDV, deductibles and exclusions. The policy does not replace third-party insurance and does not automatically include optional add-ons. Obtain a vehicle-specific quote before making a purchase decision.