Car, Bike Insurance Alert: Make standalone 'own damage' motor policy available, IRDAI tells insurers
Insurance Regulator IRDAI has asked general insurance companies to make available standalone annual Own Damage (OD) covers for both new and old cars and two-wheelers from September 1.
Buying OD vehicle insurance is optional. OD covers natural calamities, like earthquakes and floods, and also disasters such as vandalism and riots. Image: Pixabay