For a new car, comprehensive is a no-brainer. For a 12-year-old car worth little, it can look like throwing good money after bad. Here's the line, with numbers.
Why the math shifts as the car ages
Comprehensive premium is tied to your car's IDV, which falls every year — but the own-damage payout is capped at that shrinking IDV, minus depreciation and deductibles. So each year you pay premium for a smaller possible payout.
A worked example
| 13-yr-old hatchback | Figure |
|---|---|
| IDV (max own-damage payout) | ~₹80,000 (and falling) |
| Comprehensive premium | ~₹6,500/yr |
| Third-party only | ~₹2,500/yr |
| Extra you pay for own-damage | ~₹4,000/yr to protect a shrinking ₹80k |
A simple decision rule
- Keep comprehensive if: under ~8–10 yrs, meaningful value, you couldn't absorb a big repair, or high-risk driving.
- Third-party only if: 10+ yrs, IDV under ~₹1 lakh, secondary/occasional car, and you have savings to self-insure.
Middle path: third-party plus one cheap high-value add-on (roadside assistance) instead of full comprehensive — get quotes both ways.
FAQ
Legal to keep only third-party? Yes — it's the legal minimum; own-damage is optional.
What about theft? Not covered without comprehensive — factor that in.
Weigh it against the true cost of owning the car; see the full insurance guide. Verify current premiums.
