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Choosing the right first-party car insurance in 2026 is about more than just checking a legal box. It’s about protecting your high-value asset against the unpredictable. While third-party insurance is the bare minimum required by law, a first-party policy acts as your financial shield, ensuring that, whether it's a flood, a collision, or a theft, you aren't left paying for repairs out of pocket. This guide breaks down exactly how car insurance online first-party plans work and how you can maximise your coverage while keeping your 1st party car insurance price under control.
First-party car insurance, commonly referred to as Own Damage (OD) or a major component of a Comprehensive Policy, covers damages sustained by the policyholder’s own vehicle. In the insurance contract:
| Feature | First-Party (Own Damage/Comprehensive) | Third-Party (Liability Only) |
|---|---|---|
Coverage Scope | Covers your own vehicle damage + third-party liabilities. | Only covers liabilities toward others. |
Legal Requirement | Optional but highly recommended. | Mandatory by law under the Motor Vehicles Act. |
Premium Cost | Higher due to extensive coverage. | Lower, fixed by IRDAI based on engine capacity. |
Payout Beneficiary | The Policyholder | The affected third party. |
When an accident occurs, you (the first party) file a claim with your insurer (the second party). The insurer assesses the damage through a surveyor and compensates you based on the vehicle's IDV and the terms of your policy. For example, if your car is hit by an unknown vehicle, your first-party car insurance pays for your repairs even when there is no third party to hold accountable.
The IRDAI sets standard EV insurance rates for third-party cover based on the battery's kilowatt (kW) capacity.
| Feature Category | Covered (Inclusions) | Not Covered (Exclusions) |
|---|---|---|
Accidents | Damage from road accidents, including collisions with objects or other vehicles. | Accidents occurring while driving without a valid DL or under the influence of alcohol. |
Natural Disasters | Protection against floods, earthquakes, cyclones, and lightning strikes. | Damage caused by general ageing or "Wear and Tear" of the vehicle parts. |
Human Acts | Theft, burglary, riots, vandalism, and damage during transit (road/rail). | Damage resulting from using a private vehicle for commercial purposes (e.g., taxis). |
Technical Issues | Damage due to self-ignition, external fires, or explosions. | Internal mechanical or electrical breakdown not caused by an external accident. |
TP stands for Third Party. It refers to any person or property (other than you and the insurer) that suffers damage, injury, or death due to your vehicle.
The essential documents include a duly filled claim form, a copy of your Driving License (DL), the vehicle's Registration Certificate (RC), and the original policy document. For theft or major accidents, a police FIR is also required.
You can lower the price of your first-party car insurance by maintaining a clean driving record to earn a No Claim Bonus (NCB), installing ARAI-approved anti-theft devices, and opting for a higher voluntary deductible.
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Yes, a surveyor usually inspects the vehicle to verify the extent of the damage before repairs are approved, though many insurers now offer digital video inspections for faster processing.
Yes. Driving without a valid driver's license is a major violation of the policy terms and a legal offence, leading to automatic claim rejection.
While only Third-Party insurance is legally mandatory, Comprehensive insurance is highly recommended to protect against the high cost of EV-specific components.
Delaying notification (usually beyond 48–72 hours) can lead to claim rejection as it prevents the insurer from verifying the incident accurately.
Initially, yes, because EVs have a higher IDV and more expensive specialised parts. However, the government provides a 15% discount on third-party premiums to help balance the cost.
It covers damage caused by accidents, fire, or theft. However, replacement due to general ageing or performance degradation (wear and tear) is typically not covered.
Yes, as per the Motor Vehicles Act, every electric car plying on Indian roads must have a valid third-party insurance policy.
Yes, the policy and your No Claim Bonus (NCB) can be transferred to the new owner, provided the necessary paperwork and ownership transfer are completed with the RTO.
The IRDAI offers a 15% discount specifically on the Third-Party portion of the premium for electric vehicles compared to petrol/diesel cars.
Jio Insurance Broking Limited
IRDAI License No: 347,
Direct Broker (Life & General),
Valid upto: 11/03/2028
(Renewable)
(9.30 AM - 6.30 PM, Monday to Friday)
U67200MH2006PLC165651
1st Floor, Building - 4NA, Maker Maxity, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051
Discount is offered by the insurance company as approved by IRDAI for the product under file & use guidelines.
Insurance is a subject matter of the solicitation. For more details on policy terms, conditions, exclusions, limitations, please refer/read policy brochure carefully before concluding sale.
© 2026 Jio Insurance Broking Ltd. All rights reserved.
Jio Insurance Broking Limited
IRDAI License No: 347,
Direct Broker (Life & General),
Valid upto: 11/03/2028
(Renewable)
(9.30 AM - 6.30 PM, Monday to Friday)
U67200MH2006PLC165651
1st Floor, Building - 4NA, Maker Maxity, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051
Discount is offered by the insurance company as approved by IRDAI for the product under file & use guidelines.
Insurance is a subject matter of the solicitation. For more details on policy terms, conditions, exclusions, limitations, please refer/read policy brochure carefully before concluding sale.
Disclaimer: *Savings result from comparing the highest and lowest premiums for own damage coverage (excluding add-ons) offered by various insurers for the same vehicle, with identical IDV and NCB.
Copyright © 2026 Jio Insurance Broking Ltd.
