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Kshema Two-Wheeler Standalone Own Damage Policy

This policy is intended for customers with bundled policies to continue their Own Damage (OD) coverage on an annual renewal basis after the initial OD cover period expires.

It protects your vehicle against accidental damage, theft, fire, natural calamities, and man-made hazards.

  • Designed for two-wheeler owners seeking own damage protection
  • Covers a wide range of risks affecting your vehicle
  • Multiple add-on options to enhance protection
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Policy documents

Why Choose Kshema Two-Wheeler Standalone Own Damage Policy?

Own Damage Protection

Covers damage to your insured two-wheeler due to various unforeseen events.

Flexible Add-ons

Enhance your coverage with add-ons suited to your needs.

Indemnifies financial losses

Provides financial protection against repair or replacement costs arising from the occurrence of insured events.

Hassle-Free Purchase & Renewal

Conveniently purchase or renew your policy online, anytime and from anywhere.

Protect Your Two-wheeler Vehicle From

Road Accidents

Damage caused to your vehicle due to accidents.

Fire & Explosion

Loss or damage to the vehicle caused by fire or explosion.

Theft

Coverage for loss due to theft of your insured two-wheeler.

Natural Calamities

Offers protection against damage resulting from natural calamities, including floods and earthquakes, and man-made incidents such as communal riots.

Add-on covers you can choose from

Nil Depreciation Cover ​

Ensures claim settlement without deduction for depreciation on parts. 
* Claims under this add-on are limited to first two claims during policy period.

Engine Protection Cover

Covers repair costs arising from engine damage. 

No Claim Bonus (NCB) Protection

Allows you to retain your No Claim Bonus even after making a claim.

Return to Invoice (RTI) Cover

Provides compensation equal to the invoice value if the vehicle is stolen or damaged beyond repair.

Roadside Assistance Cover

Provides roadside assistance in case of a breakdown, including support for mechanical or electrical issues, minor repairs where possible, and towing to the nearest garage.

* Claims under this add-on are limited to first two claims during policy period. 
Points to Note
  • IDV (Insured Declared Value) is treated as the sum insured for the vehicle.
  • This policy is intended for the continuity of Own Damage (OD) coverage where a valid and active Third-Party (TP) policy is already in force.
  • Coverage applies only when the vehicle is used as per policy terms and conditions.
  • Eligibility for the Nil Depreciation add-on is restricted to vehicles within 5 years of age.
  • Wear and tear arising from the routine running and usage of the vehicle is not covered.
  • Loss or damage arising from mechanical or electrical breakdowns is excluded from coverage.
  • Claims arising due to improper usage of the vehicle are not covered.
  • Damage caused due to war, nuclear perils, or war-like operations is not covered
  • Claims are subject to deductibles and depreciation as specified in the policy.
  • You may opt for the Nil Depreciation add-on for enhanced coverage.
  • Loss or damage resulting from driving under the influence of alcohol or intoxicating substances is not covered under the policy.
  • Coverage is subject to the driver holding a valid and effective driving licence.

* Please refer to the policy wordings for detailed terms and conditions.. 

Policy Documents

1. Prospectus
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2. Proposal Form
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3. Policy Wordings
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4. Customer Information Sheet
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Frequently Asked Questions

1. Is Kshema Two-Wheeler Standalone Own Damage Policy mandatory?
No. The law mandates only Third-Party liability insurance. However, opting for a Standalone Own Damage (SAOD) policy is recommended to safeguard your vehicle against accidental loss or damage.
No. A Comprehensive Insurance Policy already provides coverage for both Own Damage and Third-Party liabilities.
No Claim Bonus (NCB) is a reward in the form of a premium discount granted for every claim-free year.
4. What portion of the claim do I have to pay?
Claims are subject to compulsory excess, depreciation (where Nil Depreciation Cover is not selected), and salvage value if the salvage is not surrendered to the insurer.

The insurance policy will not cover claims resulting from unauthorized, improper, or negligent use of the vehicle.

It also excludes any loss or damage caused while the driver is under the influence of alcohol or intoxicating substances. Coverage is available only when the driver holds a valid and legally effective driving licence.

Yes, you can enhance your policy by opting for additional add-on covers upon payment of an additional premium, subject to the insurer’s terms and conditions.
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  • Multiple coverage options to choose from.
  • Policies available for private and commercial vehicles.
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