How is the premium calculated?

The quote may depend on vehicle make and model, age, location, insured declared value, selected cover, deductibles and other applicable rating factors.

Are add-ons included automatically?

Do not assume optional add-ons are included. Their availability, price and conditions must be confirmed in the insurer’s quote and policy schedule.

TATA AIG Standalone Own-Damage Car Insurance: Cover & Benefits

Standalone Own-Damage Car Insurance Overview

TATA AIG Standalone Own-Damage Car Insurance is intended to protect the insured car against damage or loss caused by events covered under the selected policy. Depending on the policy wording, insured events may include accidents, fire, theft, natural calamities and specified external events. The exact protection, deductibles and claim conditions are governed by the issued policy documents. This is own-damage cover and does not itself provide third-party liability insurance. A valid third-party policy must be maintained separately as required by law. Premiums depend on the vehicle, insured declared value, selected coverage and other applicable rating factors.

Protects the insured car against covered own-damage risks; third-party liability is not included

Expert Review of Standalone Own-Damage Car Insurance

Standalone own-damage cover can be useful when a car owner already holds a separate valid third-party policy and wants financial protection for covered damage to their own vehicle. Before buying, compare the insured declared value, compulsory and voluntary deductibles, claim conditions, exclusions and any optional add-ons available in the actual quote. Theft and natural-calamity cover should be confirmed in the policy wording rather than assumed from the product name alone. This policy should not be treated as a substitute for third-party liability insurance.

Pros

Provides protection for the insured car against eligible own-damage events.
Can complement an existing third-party liability policy.
Allows the owner to review own-damage coverage and insured value in the policy quote.

Cons

Does not provide third-party liability cover on its own.
Claims may be reduced by deductibles, depreciation and other policy conditions.
Premium and claim settlement depend on vehicle details and the issued policy terms.

About Tata AIG (Insurer Profile)

Tata AIG

Key Insights

Founded

2001

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

Claims Experience

97.2% CSR, calculated as a 3-year average

Tata AIG settles 97.2% of all claims it receives, demonstrating strong credibility.

Contact Details

1800 266 7780

Headquarters: 6th, 7th, and 8th Floor, Romell Tech Park, Cama Industrial Estate, Goregaon, Mumbai, Maharashtra – 400063

Standalone Own-Damage Car Insurance Features and Benefits

Accidental Damage

Covers eligible damage to the insured car caused by an accident, subject to the issued policy terms.

Deductibles, claim assessment and exclusions apply.

Fire-Related Damage

Fire-related damage may be covered when the event falls within the insured perils of the policy.

Confirm the exact fire cover and conditions in the policy wording.

Theft or Total Loss

Theft or total loss may be covered when included under the policy and the claim meets its requirements.

Settlement depends on the applicable insured value, terms and claim documentation.

Natural Calamities

Damage caused by specified natural calamities may be covered where included in the policy.

Check the issued wording for covered events and relevant exclusions.

Specified External Events

Other specified external events may qualify for cover where expressly included in the policy wording.

Coverage is subject to the insurer’s definitions and exclusions.

Insured Value-Based Settlement

For eligible total-loss or theft claims, settlement is determined under the policy and applicable insured value provisions.

Check the insured declared value, depreciation provisions and settlement conditions.

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

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

Third-party liability is outside the scope of standalone own-damage cover.
Wear and tear, ageing and mechanical or electrical breakdown are generally excluded unless the policy expressly provides otherwise.
Losses arising in circumstances excluded by the policy, including applicable unauthorised use or driving conditions, may not be payable.

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

What's missing in Standalone Own-Damage Car Insurance

Third-party injury, death and property-damage liability must be covered separately.
Routine maintenance, mechanical failure or wear and tear should not be assumed to be covered.
Optional benefits such as zero depreciation or roadside assistance are not assumed to be included.

Insurer

Tata AIG plans and claim process

Standalone Own-Damage Car Insurance FAQs

What is standalone own-damage car insurance?

It is a policy designed to cover eligible damage or loss to the insured car from events covered under the policy. It does not itself provide third-party liability insurance.

Does this policy cover third-party damage?

No. Third-party liability must be covered through a separate valid third-party motor insurance policy.

Does standalone own-damage insurance cover theft?

Theft may be covered when included under the issued policy and the claim satisfies the policy conditions. Check the wording and schedule for confirmation.

Disclaimer: Premium amounts are indicative and may vary based on age, health, and plan selected. Claim settlement ratios are from IRDAI Annual Reports. Finzony is not an insurance broker or agent. Verify all details on the official Tata AIG website before purchasing.