What Is The Full Form Of OD In Insurance?
OD Full Form in Insurance is Own Damage. See, this type of vehicle insurance is all about your car and keeping it safe from harm. Unlike third-party insurance, which covers damages your car might cause to others, Own Damage insurance is there to handle what happens to your car itself. Whether it’s getting scratched up in a scrape, roughed up by bad weather, whisked away by thieves, or targeted by vandals, you’re covered for the costs to fix or replace it. So worry not.
OD Insurance Coverage
Own Damage insurance really throws a wide net when it comes to what it covers. Picture it as your car’s personal shield against the elements and the unexpected. From natural disasters like floods and earthquakes to less natural ones like riots and vandalism, OD insurance has you covered.
Who Should Really Go for OD Insurance?
So, who should be signing up for OD insurance? If you’ve just driven a new car out of the showroom, it’s pretty much essential. Later down the line, repair costs can bleed your wallet dry, especially with newer models. It’s a wise choice too for those rolling in more upscale rides, where even the smallest repairs can hit hard on your finances. And for all you newbie drivers out there, remember, mishaps on the road are just a part of life, OD insurance is your safety net against those unexpected dents on your car and your budget.