Own damage insurance is a type of car insurance that provides coverage for damages sustained by the insured car due to an unforeseen event like an accident, theft, natural calamities, or damage due to fire. It is different from third-party car insurance, which is mandatory by law and covers the policyholder against accidental damages sustained by third parties due to the insured vehicle.

Here are some key points to understand about own damage insurance:

• It provides compensation against any own damages sustained by the insured car due to an unforeseen event like an accident, theft, natural calamities, or damage due to fire.
• It can only be purchased if you have an existing third-party liability car policy.
• It is not mandatory under Indian motor laws.
• It is beneficial if you already have third-party insurance for your vehicle.
• It is essential for cars.
• It can be purchased separately from third-party insurance policy.

In summary, own damage insurance is a type of car insurance that provides coverage for damages sustained by the insured car due to an unforeseen event. It is different from third-party car insurance, which is mandatory by law and covers the policyholder against accidental damages sustained by third parties due to the insured vehicle.