New India Assurance Standalone Own Damage Car Insurance

New India Assurance Standalone Own Damage (SAOD) Car Insurance protects an insured private car against specified physical loss or damage, subject to the policy wording. Covered events include accidental external damage, theft, fire and explosion, natural calamities such as floods and cyclones, and specified man-made events such as riots and malicious acts. The vehicle must already have valid third-party liability insurance when this standalone own-damage policy begins. Third-party liability is not included in the SAOD policy itself. The premium depends on factors such as the Insured Declared Value (IDV), engine capacity, vehicle age, geographical zone and selected add-on covers. Claims remain subject to policy conditions, deductibles, depreciation and applicable exclusions.

This policy is useful for car owners who already hold third-party insurance—particularly a multi-year third-party policy—and want separate protection for their own vehicle. Its key benefit is protection against covered accidental damage, theft, fire and specified natural or man-made events without purchasing third-party cover again under this policy. Before buying, confirm that the existing third-party policy is valid, compare the offered IDV with the vehicle value, and check deductibles and exclusions. Normal wear and tear, mechanical breakdown and certain prohibited-use situations are not covered. The policy does not replace mandatory third-party insurance.