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Take informed decisions with IIFL Insurance:

Stay covered with own damage insurance for your vehicle

The law mandates that to legally drive your vehicle in India, you need to have TP insurance, also known as third-party insurance or sometimes referred to as liability insurance. 

TP insurance does two very important things: 

  • It covers any damages that may be caused to a third party’s vehicle 
  • In case your car or two-wheeler accident results in injury or death of the third party, your financial liability to the third party or their family is also covered. 

But you need OD cover as well; here’s why: 

But there are countless other eventualities – related to yourself and your car – that you leave yourself exposed to, including: 

  • Theft 
  • Damage by a natural disaster
  • Damage due to man-made disasters
  • Damage due to acts of terrorism

All of these eventualities are however covered under an own damage insurance claim. In other words, OD insurance, or own damage insurance, is also fire accident insurance and theft insurance.

Nearly 3000 vehicles were stolen in the country even during the pandemic year of 2020, when one might have assumed – or hoped – that covid fears had people keeping their hands off of other people’s possibly contaminated belongings. Given that fairly loaded statistic, it definitely makes sense to safeguard yourself from vehicle theft by getting theft insurance under your OD policy. 

How to get OD insurance for your vehicle online? 

You can get a bundled motor policy that packs in both OD and TP insurance all in one, on the IIFL website. This will save you time, money and effort. 

Here’s how you can go about getting the best possible deal on a bundled motor 


Step 1: Visit the IIFL platform. Click here to get started on the process.   

Step 2: Select the relevant insurance product from the menu – choose between private car insurance and two-wheeler insurance depending on your requirement. 

Step 3: Now time for some quick multiple-choice questions. Don’t worry, you don’t get minus marks for wrong answers but do fill up all the fields correctly. The first page of the form will prompt you to fill in your vehicle registration-related details.  Once you have populated all the fields, hit next. 

Step 4: On the second page of the IIFL online form, you simply need to provide a response as to whether your car is registered to you/ an individual,or to a company. Once you have made the appropriate selection, hit “Next” once again. 

Step 5:  Next, click on add filters. Here, be sure to choose OD. If you want to throw in any of the other add ons, do check the relevant boxes now. 

Step 6:   Now fill up your personal details and click the box allowing insurers to contact you with their quotes. If you prefer to have them mailed to you, select Email Quotes. 

Step 7: Peruse all the deals offered and one that suits both your pocket size and your requirements. 

Why buy a bundled motor policy plan online, on the IIFL platform? 

  1. Quick: Buying online is a quick process that can be completed between zoom meetings. 
  2. Anytime and anywhere: When you buy online, you need to adhere to any insurance company’s working hours, especially since work from home has you working nearly 24×7. 
  3. Compare quotes: IIFL gives you a bunch of quotes from competing insurance companies, all of whom are aware that you’ve got options. The consequence is that everyone brings the best deal to the table. 
  4. Toggle preferences: There’s no cost, no shame and no additional human effort (other than your own) in sampling different rates with different permutations and combinations of add ons and different IDV values. Make a whole lot of attempts. 

What factors to compare between different online insurers:

You should compare various cost-affecting factors in the various bundled motor policies involved. Be sure that fire accident insurance and theft insurance are part of the deal. In addition, you should always compare

  • Insurer’s Declared Value, or IDV
  • Premium
  • Add ons and freebies
  • The Proximity of garages linked to any insurer 


I don't particularly like to receive calls about Insurance. Can I view the quotes online itself or else receive an email?

Yes, on the IIFL website, the convenience and comfort of the insurance buyer are the priority. You can choose to receive your handful of quotes via email instead. Simply click email quotes while filling up the online form.

Does a bundled insurance policy cover loss of property from the car? How can I go about getting such coverage?

No, this needs to be purchased as an add on while you sign up for your motor insurance policy. You need to select add filters in Step 3 of filling up the online form and select Loss of Personal Belongings in the list of add ons.

My father had gifted me and my sister the very same bike. Both of us have opted for OD. How can her insurance be more expensive than mine?

If you have purchased your insurance on the IIFL website, you have gotten the best possible deal. This could be one reason. Alternatively, add ons and IDV heavily impact insurance premium.

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