Own Damage (OD) Bike Insurance protects your two-wheeler from losses due to accidents, theft, fire, natural calamities, and vandalism. Unlike mandatory third-party insurance, OD cover focuses on your own bike, paying for repairs or replacement in case of damage or total loss. You can enhance coverage with add-ons like zero depreciation, engine protection, roadside assistance, or return-to-invoice. Though optional, OD insurance is strongly recommended, especially for new, expensive, or high-risk bikes.
Yash was rushing to meet a friend when his bike hit a small rock. Just a scratch, he thought. But the dent looked worse in daylight. Yash kept thinking about the repair costs. Ever had that sinking feeling when your ride, your freedom on wheels, suddenly feels so fragile? That’s where own damage bike insurance comes in. In other words, this insurance is just peace of mind for your travel companion. It’s what lets you ride without stopping at every bump, every scratch, every worry. Curious how a simple own damage bike insurance plan can save your bike and your wallet? Or how it can get you back on the road faster when accidents happen? Let’s dig into more of what OD bike insurance really does and why it matters more than you think.
Own Damage Bike Insurance: Key Features
When you get own damage (OD) insurance for your bike, you get a set of protections and options that ordinary third-party insurance doesn’t give. These are the main features you’ll want to know:
1
Coverage for Damage to your Bike
If your bike is damaged due to an accident, this policy helps pay for repairs or for replacing damaged parts.
2
Protection from Natural Calamities
If your bike suffers damage because of events like Floods, earthquakes, cyclones, storms, the OD cover kicks in.
3
Cover for Fire, Theft, and Malicious Acts
If your bike is stolen, or damaged by fire or vandalism (or “malicious acts” broadly), you don’t have to bear the full cost.
4
Total Loss
Sometimes the damage is so severe that repairing isn’t feasible or economically sensible. OD policies typically provide compensation in such “beyond repair” or total loss cases.
5
Add-on (Riders or Optional Covers)
You can usually extend the basic protection via optional add-ons. Some common ones:
Zero depreciation (so the insurer doesn’t deduct depreciated value of parts)
Engine protection, gearbox protection
Consumables cover (things like bolts, nuts, small non-replaceable parts)
Roadside assistance in breakdowns
Return to invoice cover
6
No Claim Bonus (NCB)
If you go through the year without making a claim, many insurers give you a discount when renewing. It reduces your premium.
7
Voluntary Deductible
You pick how much you’ll pay from your pocket in the event of a claim; higher deductibles lower the premium.
8
Premium based on Insured Declared Value (IDV) & Other Risk Factors
What the insurer will pay depends on the declared value of the bike, age, condition, location, model, etc. The premium you pay depends on these.
Own Damage (OD) Bike Insurance Benefits
These features lead to real benefits. Here are what you gain when you opt for own damage protection:
Financial Safety
Big unexpected repair bills (damage from accidents, theft, etc.) can be heavy. OD insurance prevents you from having to pay the full cost out of pocket. It brings predictability.
Peace of Mind on the Road
You ride with less worry: There is the rainy season, flooding, theft risk in certain areas. And knowing you have OD cover means one less stress.
Flexibility for Individual Need
You may not need every rider, but you can pick what makes sense (zero depreciation, engine protection, etc.).
Savings Over Time via NCB
If you ride carefully and avoid claims, you may earn a discount on your next renewal.
Cashless Repairs
Many insurers have network garages where you just show your policy, and the insurer settles the cost directly (subject to terms). It saves you from upfront payment hassles.
Bike’s Resale Value Protection
When major damages are repaired or replaced properly (with genuine parts) or even when total loss is handled fairly, your bike retains better value.
Understanding Own Damage (OD) Bike Insurance in Detail
Own Damage (OD) bike insurance is designed to protect your bike against risks that affect you directly, unlike third-party cover which looks after others on the road. It comes into play when your bike suffers damage from an accident, natural calamity, fire, theft, or even total loss where repair costs exceed the bike’s value. At the same time, it does not extend to every situation. Issues like gradual wear and tear, mechanical failures unrelated to accidents, or riding without proper license and safety conditions fall outside its scope. In short, OD cover gives financial support for unexpected, often costly events, while leaving out predictable or avoidable risks.
Premium Calculation & Factors
What decides how much you’ll pay:
Insured Declared Value (IDV) This is an estimate of your bike’s current market value. Higher IDV obviously means higher premium.
Age of the Bike Older bikes might have lower IDV, more wear and tear, etc. Some parts depreciate. This affects cost.
Geographical Location Where you live also matters. This means that when your locality has a high risk of theft, flooding, etc., or whether you're in a dense city, the premiums can get higher.
Voluntary Deductible Option If you agree to pay more from your side when claiming, your premium drops.
Add-ons Selected If you include zero depreciation, engine protection, etc., they add to the premium.
Top Own Damage Bike Insurance Plans (2025)
If you’re weighing options this year, these OD bike insurance plans stand out. Each brings certain strengths like good claim service, wide network garages, or extra add-ons. You can use this as a shortlist:
Insurer
What Sets Them Apart
Key Perks
HDFC ERGO
Strong digital experience, many network garages, flexible add-ons.
Standalone OD cover; zero depreciation; emergency roadside assistance; claim settlement ratio very good.
Bajaj Allianz
Wide brand trust, easy online renewal/buying, good claim support.
Covers theft, accidents, man-made disasters; options for add-ons; zero paperwork for issuance; good network of garages.
National Insurance
Good mix of affordability and standard cover; online convenience.
Basic OD inclusions (accidents, natural calamities, theft); add-ons; fewer hassles when buying/renewing.
New India Assurance
Trusted government insurer, good network; transparent terms.
Simple process, good customer support, flexible customization.
Clean inclusions; fast claim process; optional riders so you pay for only what you need.
If you match these perks with what matters for your usage (how often you ride, distance, how you park, risk of theft or flood etc.), you’ll pick one that’s right without overpaying.
Take action now. Don’t wait until damage happens. Renew or upgrade with SMC Insurance before the old policy expires.
Buy/Renew Bike Insurance and Save up to 75%
Is Own Damage Insurance Mandatory?
No. The law in India mandates third-party insurance for all bikes. That’s for injury, death or material damage to others. Though own damage cover is optional, it is strongly recommended. Without OD, you’ll have to pay fully for damage to your own bike.
One more thing: for brand new bikes, or when financing/loan is involved, lenders may require OD cover. So even if not legally forced, there could be contractual pressure.
What Is Covered and Not Covered Under Own Damage Bike Insurance?
Here’s a clearer breakdown of what OD usually pays for and what it doesn’t. Knowing this helps avoid surprises later.
What’s Covered?
Own Damage policies typically include:
Accidental damage to your bike like collision, overturns, etc.
Damage due to fire, explosion, lightning, self-ignition.
Natural calamities: floods, earthquakes, storms, cyclones etc.
Theft or burglary of the bike.
Man-made disasters (riots, strikes, vandalism) and damage caused by malicious acts.
Total loss or constructive total loss (if repair exceeds a certain threshold or the bike is beyond repair).
What’s Not Covered?
These are typical exclusions or limitations. Always check exact policy wording:
Normal wear & tear, ageing parts degrading over time.
Mechanical or electrical breakdowns not caused by any accident or insured peril.
Damage when riding without valid documents e.g. license, registration, valid prior insurance.
Riding under the influence of drugs or alcohol.
Damage from intent, recklessness, illegal use (e.g. racing) usually excluded.
Consequential or indirect damages (if damage leads to another issue, not directly part of covered perils) in many cases not covered.
Certain parts like tyres & tubes may only be covered partially or only when the bike is damaged at the same time.
Add-ons In Own Damage Bike Insurance
If you just take bare OD protection, you’ll be covered for many risks. But add-ons give you extra shields. They cost more premium, but are often worth it. These are common ones in Indian two-wheeler OD policies, with what they do and when they make sense.
Popular Add-ons & What They Do
Add-on
What It Covers / How It Helps
Zero Depreciation Cover
Covers full cost of replacing damaged parts without reducing value due to wear-and-tear (depreciation). Good for newer bikes.
Return to Invoice (RTI) Cover
If a bike is stolen or damaged beyond repair, you get compensation close to the invoice amount (includes registration & road tax) not just market value. Helps recover the original cost.
Engine Protection Cover
Covers damage to engine from events like water ingress, oil leak, hydrostatic lock etc. Normally engine damage beyond collision might not be covered.
Roadside Assistance
You get help when the bike breaks down like a flat tyre, towing, battery jump, keys locked etc. Useful if you travel long or through less serviced roads.
No-Claim Bonus Protection
If you make a claim, usually NCB (discount on renewal for claim-free years) is lost. With this add-on, you may retain some or all of NCB even after a claim.
Consumables Cover
Things like screws, oils, bolts, nuts which usually are not replaced or covered fully under standard policies. This covers small parts/consumables during a claim.
Personal Accident Cover (Owner / Pillion / Rider)
Provides compensation if the policyholder (or pillion) gets injured or dies in an accident. This is about the person, not the bike.
Why Should You Buy OD Bike Insurance?
You might think “maybe I’ll skip it” but here are reasons that usually make sense to get own damage bike insurance.
It protects your wallet. Repairing a crash or replacing major parts can cost a lot. OD cover means the insurer helps pay those costs.
You don’t always control what happens on the road. Weather turns bad, some driver hits you, theft or vandalism can occur. With OD, you’re not left to shoulder full loss.
Resale value stays better. If your bike is well maintained and repaired properly after damage, potential buyers see that.
It gives peace of mind. You ride without constant worry that if damage happens, you know you have backup.
With right add-ons, you tailor cover to your risk. You don’t pay for useless things.
Saving over time. No-claim bonuses can reduce your next premium. If you ride carefully, that builds up.
For financing or loaned bikes, lenders may require OD cover. Helps you meet contractual terms.
Who Should Purchase OD Bike Insurance?
This isn’t one-size-fits-all. For some people it’s almost essential and for others it’s optional. These are people who will benefit most:
Owners of newer bikes or high-price models as parts are costlier, depreciation hits bigger and the repair cost is high.
If you ride frequently, exposure to risk is higher. Thus, it’s always better to be covered.
Riders in areas prone to natural calamity or theft. If your area floods, or bike theft is common, OD helps reduce risk.
Someone who parks a bike in public places, or uses it on risky roads. More wear and chance of damage.
People who want lower stress. If you’d rather pay an extra premium than worry about big bills after damage, OD helps.
Recent & Emerging Updates
The IRDAI has been widening the scope of own damage (OD) bike insurance. Some changes are already in place, while others are just beginning to appear in insurer filings.
Usage-based premiums: “Pay As You Drive” and “Pay How You Drive” began under the regulator’s sandbox and are now offered by some insurers, rewarding low mileage or safer driving habits.
Floater policies: Approved to let owners insure more than one vehicle (for example, a bike and a car) under a single OD plan, subject to filing.
TP vs OD clarity: TP liability remains legally mandatory (five years upfront for new two-wheelers). OD is optional but needed to protect your own bike from accident or theft losses.
Personal Accident cover: IRDAI mandates that motor insurers offer owner-driver PA cover up to Rs. 15 lakh.
Climate risk emphasis: Floods, storms, and earthquakes are highlighted more in OD wordings; add-ons like engine protection for water ingress are increasingly promoted.
Transparency in sales: IRDAI’s MISP guidelines tighten rules for dealers and intermediaries, while insurers move toward clearer, standardised policy wordings.
Comprehensive Bike Insurance Vs Third-Party Bike Insurance Vs Own Damage Bike Insurance: Key Differences
Each type of two-wheeler insurance serves a different purpose. Understanding their differences helps you decide what works best for your needs.
Third-Party Bike Insurance This is the only cover mandated by law. It protects you against financial liability if your bike causes injury, death, or property damage to a third party. However, it does not cover damage to your own bike.
Own Damage (OD) Bike Insurance This policy is designed to cover your own bike against risks like accidents, theft, fire, or natural calamities. It doesn’t include third-party liability, so you need to buy it alongside a third-party plan.
Comprehensive Bike Insurance A comprehensive plan combines both: third-party liability plus own damage cover. It also allows you to add extra protections like zero depreciation or roadside assistance.
In short, third-party is the legal minimum, own damage gives protection for your bike alone, and comprehensive offers the most rounded cover.
How To Buy Own Damage Bike Insurance Online From SMC Insurance?
Buying OD cover from SMC Insurance online is a quick process:
Step 1
Visit the SMC Insurance website and go to the bike insurance section.
Step 2
Enter your bike details such as registration number, model, and year of purchase.
Step 3
Select the type of plan here, choose standalone own damage cover.
Step 4
Pick add-ons like zero depreciation or engine protection if you want to enhance your cover.
Step 5
Review the premium displayed and adjust the IDV (Insured Declared Value) to balance cost and coverage.
Step 6
Proceed to payment through secure online options. Once done, the policy document is shared instantly on email.
The process is paperless, transparent, and takes only a few minutes.
Ready to protect your bike from accidents, theft, and natural disasters? Get your Own Damage Bike Insurance today and ride with peace of mind. Buy Now from SMC Insurance.
Buy/Renew Third-Party Bike Insurance & Save Up to 75%
How To File A Own Damage Two-wheeler Insurance Claim?
Filing an OD claim involves a few structured steps:
Step 1
Inform your insurer immediately after the incident through their app, website, or customer care.
Step 2
Register the claim and provide details of the accident, theft, or damage.
Step 3
The insurer assigns a surveyor who inspects the damage and estimates repair costs.
Step 4
Choose repair method:
Go for a cashless garage where the insurer settles bills directly.
Or choose reimbursement, where you pay upfront and then claim the amount back.
Step 5
Submit required documents like the RC, driving license, FIR (if theft or major accident), and policy copy.
Step 6
Claim settlement is processed based on the surveyor’s report and policy terms.
Cashless Garages
Cashless garage service lets you repair your bike at network garages without paying from your pocket. The insurer settles repair costs directly with the garage, saving time and hassle.
Common Mistakes That Lead to Rejected Own Damage Claims
Claim rejection often happens because of small oversights. Some of the most frequent ones are:
Not informing the insurer on time: Every insurer has a time window for reporting accidents. Delaying the intimation weakens your case.
Driving without a valid license: If the rider at the time of accident didn’t hold a valid license, claims are almost always rejected.
Riding under the influence: Accidents caused while intoxicated are excluded from cover.
Modifications not declared: If your bike has modifications that weren’t declared, insurers may refuse to pay for damages.
Using the bike for commercial purposes: If the insured vehicle was being used for purposes outside the declared scope, the claim can be denied.
Incomplete or false documentation: Incorrect details or missing paperwork during claim submission often result in rejection.
What Affects the Own Damage Bike Insurance Premium?
The cost of OD cover depends on several factors:
Insured Declared Value (IDV): Higher IDV means better coverage but also higher premium.
Bike’s age and model: Older bikes usually attract lower premiums, while premium models cost more to insure.
Location: Accident-prone or theft-prone areas push premiums higher.
Previous claim history: If you haven’t raised claims before, you earn a No Claim Bonus (NCB), which reduces premium.
Rider’s profile: In some cases, age and riding history also play a role.
Chosen add-ons: Extra covers like zero depreciation or engine protection add to the premium.
Tips to Reduce Premiums on Own Damage Insurance Without Compromising Coverage
You don’t always need to cut corners to save on premiums. A few smart choices help balance cost and protection:
Maintain a claim-free record to build your No Claim Bonus.
Compare policies online before purchase to see which insurer offers better value.
Choose add-ons carefully. Take only those you genuinely need, like zero depreciation if your bike is new.
Opt for higher voluntary deductibles if you can manage small expenses out of pocket.
Renew on time. Letting the policy lapse can reset your NCB benefits.
Install safety devices such as anti-theft locks, which some insurers recognize for discounts.
Documents Required For The Own Damage Two-Wheeler Insurance Claim
When raising an OD claim, keep these documents handy:
Copy of the insurance policy
Registration Certificate (RC) of the bike
Valid driving license of the rider at the time of the incident
First Information Report (FIR), if applicable (theft or major accidents)
Completed claim form provided by the insurer
Repair bills and estimates (for reimbursement claims)
Any additional documents requested by the insurer during claim assessment
Submitting the correct paperwork at the first instance helps avoid delays in settlement.
Wrapping Up!
Own Damage Bike Insurance fills a vital gap that third-party cover cannot. It protects your own vehicle from unexpected risks like accidents, theft, natural calamities, and more. Choosing the right plan, keeping track of add-ons, and understanding what affects premiums make a big difference in the long run. And when it comes to claims, being cautious about documentation and policy terms ensures smoother settlements. At its core, OD insurance is about financial security and peace of mind every time you ride.
The company is wonderful insurance platform providing multiple policies under 1 roof. Experience in purchasing the policy is very good. Experts guides you very well
Annu Gour Annu Pune, April 07, 2025
Easy Renewal process
The process to renew my 2-wheeler policy is indeed very quick and easy. Got it done in just 10 minutes. Thanks.
Bipin Singh Mumbai, April 06, 2025
Quick Response
I thought let me renew my two wheeler policy with SMC and see the experience. The experience was good and simple, the only gap which I felt was that the details of the vehicle did not come up after mentioning the vehicle number.
No, only third-party insurance is mandatory by law. Own Damage is optional but strongly advised because it protects your bike from risks like theft, accidents, and disasters.
Standard OD policies don’t cover mechanical breakdowns, engine failure, or wear and tear on tyres. However, you can buy add-ons like engine protection or tyre protection to extend the cover.
Yes, you can shift to another insurer even during the policy term, subject to insurer rules and policy being active, etc. The unused premium is refunded on a pro-rata basis, and your No Claim Bonus (NCB) is carried forward to the new insurer.
For most riders, comprehensive insurance works best as it combines third-party liability with own damage cover. But if you want flexibility, you can also pair a standalone OD policy with the mandatory third-party plan, depending on usage, value, risk tolerance.
Third-party covers damages or injuries caused to another person or their property. Whereas, Own Damage covers loss or damage to your own bike due to accidents, theft, fire, or natural disasters.
No, third-party insurance is mandatory. Own Damage is optional, but highly recommended for financial protection.
Depreciation reduces the claim amount because bike parts lose value over time. For example, plastic or rubber parts depreciate faster than metal parts. An add-on like Zero Depreciation helps you avoid this deduction.
Yes, add-ons can usually be added or removed at the time of policy renewal. Some insurers also allow mid-term changes, but it depends on their rules.
If you’ve made modifications (performance, design, or accessories), you must declare them. Non-disclosure can lead to claim rejection. Insurers may adjust the premium to reflect the new value.
NCB (No Claim Bonus) is applied at renewal only if you haven’t made any claims during the policy year. If you claim, the bonus resets to zero.
Yes, since OD is available as a standalone cover, you can renew it independently of your third-party policy.
Most insurers cover accident-related dents and scratches, provided repair costs are above the deductible. Very small cosmetic issues may not be reimbursed.
No, you must hold at least a valid third-party policy to buy Own Damage cover. Both work together to complete your protection.
Yes, you can cancel your OD policy, but you’ll need to show proof of a valid third-party policy. Refunds are usually given for the unused tenure, minus charges.
.png "Own Damage Bike Insurance")
%20Cover%20Bike%20Insurance.png)
Car Insurance
Bike Insurance
GCV Insurance
PCV Insurance
Taxi Insurance
Health Insurance
Life Insurance
Investment
