1. In General Insurance, a Third Party (TP) insurance policy is a statutory requirement under the Motor Vehicle Act for all vehicle owners. It is a type of insurance cover which offers protection against damage to the third-party vehicle, personal property, and physical injury.
2. An Own Damage (OD) claim in vehicle insurance refers to a claim filed by the policyholder to cover damages to their own vehicle. This type of claim is typically used when the damage is a result of an accident, theft, fire, or natural disasters.
3. The onus of providing proof of an OD (Own Damage) incident lies on the claimant. If a vehicle owner decides to make an own damage claim, the burden of showing that it occurred lies on the vehicle owner. If there are no injuries to any party and only the vehicle is damaged, then a photo of the vehicle at the incident location, or video footage of either the incident or vehicle will go a long way in getting the claim approved.
4. If there are injuries and/or it is a severe or major accident, a police complaint may be required. Approach the jurisdictional police station for registering a First Information Report (FIR). If the incident does not warrant an FIR, at least make a statement to the police in writing and get it acknowledged. The statement should mention all the details of the incident and also include a line that an acknowledgement is required for making an insurance claim. Medical documents pertaining to the treatment of injuries may be required. If a Medico Legal Case (MLC) is registered, the MLC report may be required.
5. A common misunderstanding and point of ignorance is that, if a person other than the Registered Owner was using the vehicle at time of accident, a claim is not admissible. This is not the case. As long as the person driving or riding the vehicle has a valid Driving License, a claim can be made.