Od insurance stands for own damage which means loss of your own vehicle. Od insurance means that it provides the protection for the damages of the vehicle you own. It covers up the losses of your vehicle in a road accident but it does not cover the losses of an accident if the driver was in drink and drive condition. If you do not have your license of driving and then you drive a car and face an accident then the damage from the accident will not cover up in the od insurance.
Od insurance premium is the amount insurance you have to pay monthly is called premium. There is no matter what is the amount of your premium but all insurance including od insurance provides the protection of damages against the accidental damages by external way, theft, fire, by natural harm like storms, floods, earthquakes, rock slides etc. which is not in your control that can get the coverage from the insurance company.
