Future Generali and New India Assurance Car Insurance are the two leading insurance companies in India. One of the most important decisions you will ever make is to choose the right insurance plan for your car. They have almost similar products, but their pricing and coverage are different. New India Assurance is a cost-effective plan that provides basic coverage. Future Generali is a premium-based plan with features like accident cover, roadside assistance, and travel benefits. The question then becomes - which one should you choose? In this article Future Generali vs New India Assurance Car Insurance comparison, we will help you to make an informed decision.
Future Generali vs New India Assurance car insurance differs mostly on pricing. Comparison of Future Generali and New India Assurance Car Insurance depends on the factors such as Customer Service, Product Portfolio, Pricing, Best Coverage, suitability, and Claim Settlement Ratio. When you buy insurance for your car, you would want to get insurance that is high on benefits and low on costs. PolicyBachat helps you choose the best car insurance policy by comparing online. You must know what your budget and requirements are, to decide on the right one for your needs.
| Key Points |
Future Generali Car Insurance |
New India Assurance Car Insurance |
| Claim Settlement Ratio |
66.13% |
78.2% |
| Cashless Garages |
4000+ |
3000+ |
| Solvency Ratio |
1.67 |
2.13 |
| Branches |
121+ |
2214+ |
| Claims Settled |
2.06 lakhs |
3.73 lakh |
*The premiums are displayed according to your details, compare the quotes and buy the policy according to your needs and budget.*
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The objective of this article is to provide a comprehensive comparison of car insurance offerings from Future Generali and New India Assurance. By analyzing factors such as coverage options, benefits, premiums, claims process, customer service, user experience, and customer satisfaction, the article aims to help readers make an informed decision when choosing between these two insurance providers.
Which is the Best Car Insurance Company Future Generali or New India Assurance?
New India Assurance has been around for a long time and is considered one of the best car insurance companies in India. On the other hand, Future Generali is an insurance company that works with multiple brands. They are considered one of the most reliable insurers in the country. Whether it is Future Generali or New India Assurance car insurance the best car insurance company always provides:-
- Competitive pricing
- Comprehensive coverage options
- Flexibility to customize add-ons
- Excellent customer service
- High claim settlement ratio
- Extensive network of cashless garages
- Assessing individual car insurance needs
- Strong financial stability of the company
- Adequate third-party liability coverage
- Robust personal accident cover.
For some individuals, a car insurance company that has the highest claim settlement ratio is the best, while for others the insurance company, which has a wide network of cashless garages, is the best. Thus, several parameters make an insurance company the best for an individual. One should consider the following factors while choosing a car insurance company.
| Key Features |
Future Generali |
New India Assurance |
| Premium |
Save up to 60% |
Save up to 85% |
| Policy Issuance |
Quick & Hassle-free |
24x7 claim assistance |
| Policies Issued |
96% |
92% |
| No Claim Bonus |
Covers up to 50% |
Covers up to 50% |
| Claim Settled |
2.1 lakh+ |
3.7 lakhs |
| Claim Process |
- 24x7 emergency assistance
- Digitally enabled process with FG Insure App
- Provides a simple and swift claim settlement process
|
- Towing Assistance till Rs. 1500
- PSU Provider
- Quick Claim Settlement
|
Future Generali Car Insurance:
In a bid to enable you to secure your car after an accident or a mishap, the Future Generali Insurance Company provides different types of car insurance plans such as third party car insurance and comprehensive car insurance coverage.
With these insurance covers, policyholders get coverage against financial liability which you may incur towards a third party due to the death of or bodily injury or damage to the property sustained by them, due to the involvement of your insured car and coverage for any damage or loss sustained by your car due to an accident, theft, fire, riot, strike, earthquake, flood, cyclone and so on.
The insurer makes you get a car insurance policy instantly with cashless or direct payment gateways. In addition to this, it also gives several discounts to its customers to enjoy the insurance covers at lower rates such as a No Claim Bonus, anti-theft device, Automobile Association membership, and many more.
What is Covered?
- Damages due to floods, storms, hurricanes, landslides, etc.
- Damages due to riots, strikes, terrorist activities, etc.
- Theft of the insured vehicle
- In-transit losses
- Cover against own damage
- Cover against third-party liability
- Personal accident cover up to Rs. 1 lakh
- Personal Accident Cover Third Party Liability
- Paid driver/conductor/cleaner employed in operation of the car.
- Employees travelling in/driving the car other than paid driver.
- Non-fare paying passengers.
Types of Policies & Add-on Covers:
- Third party car insurance
- Comprehensive car insurance
- Own damage car insurance.
- Zero depreciation cover
- Tyre damage
- Return to invoice
- Theft or loss of keys
- NCB Protection
- Inconvenience allowance
- Loss of personal belongings
- Engine protection
- Legal liabilities.
*Know about Future Generali Car Insurance benefits and coverages in this Article*
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New India Assurance Car Insurance:
New India Assurance Car Insurance is a leading provider of car insurance in India. New India Assurance Car Insurance is a company that offers car insurance for both new and used cars. New India Assurance Car Insurance is a company that offers car insurance for both new and used cars. It is one of the leading providers in the country with over 24,000 employees, 1.3 million customers, and an annual turnover of Rs. 600 crore.
New India Assurance Car Insurance provides cover against theft, fire, accidental damage to your vehicle, loss or damage to your vehicle while traveling abroad, and accidents caused by third-party negligence among other things. Their policies are designed to suit your needs and budget.
What is Covered?
- Death or bodily injury to a third party person.
- Damage to third party property.
- Covers loss or damage to the insured vehicle and its accessories due to:
- Fire, explosion, self-ignition, or lightning.
- Burglary, housebreaking, or theft.
- Riot and Strike.
- Malicious Act.
- Terrorist Act.
- Earthquake (Fire and Shock) Damage.
- Flood, Typhoon, Hurricane, Storm, Tempest, Inundation, Cyclone, and Hailstorm.
- Accidental external means.
- Whilst in transit by road, inland waterway, lift, elevator or air.
- By landslide/Rockslide.
Types of Policies & Add-on Covers:
- Standalone OD (Own Damage)for Private Car
- Private Car
- Standalone CPA (Compulsory Personal Accident) Cover.
- Zero Depreciation Cover
- Road tax cover
- No Claim Bonus
- Engine Protect Cover
- Towing Charges
- Co-passenger Cover
- Hydrostatic lock.
*Know about New India Assurance Car Insurance benefits and coverages in this Article*
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Comparison between Future Generali Car Insurance vs New India Assurance Car Insurance:
Two of India's most popular car insurance companies are Future Generali and New India Assurance. Both companies have been in business for decades and provide a reputation for trustworthiness & reliability.
Future Generali and New India Assurance are both great choices when choosing an insurance plan. Both companies offer a wide variety of benefits to their customers, and differ in several ways as well! Let us look at the differences between these two plans, and see which one is better suited for your needs.
| Future Generali Car Insurance |
New India Assurance Car Insurance |
Benefits:-
- Third party liability protect you financially cover up to Rs. 7.5 lakhs
- Personal accident cover up to Rs. 15 lakhs.
- Coverage for own car for its loss and damage
- Settles 2.1 lakh+ claims every year
- 24x7 emergency assistance is provided
- Digitally enabled processes with FG Insure App
- Provides a simple and swift claim settlement process
- Towing assistance for your vehicle during an emergency
- Transfer of ‘No claim bonuses’ to any other insurance provider.
- Toll-free facility for assistance by customer care executives when you need it
- Claim finalization or settlement will be reported within 7 working days from the date of receipt of all the documents.
|
Benefits:-
- Third party liability covers up to 7.5 lakhs
- The policy also pays for towing charges from the place of the accident to the workshop up to a maximum limit of Rs.300/- for Scooters/Motorcycles and Rs.1500/- for cars and commercial vehicles.
- A restricted cover is also available covering the risk of Fire and/or Theft only, in addition to the compulsory cover granted under the "Liability Only Policy".
|
Features:-
- Hassle-free Claim Process
- Anti-theft Devices
- Quick Survey
- Towing Assistance (for Accidents)
- Roadside Assistance
- Future Xpress and Xpress+
- Convenient policy processing with minimal documentation
- Instant issuance of your policy
- Hassle-free experience getting your car insured.
|
Features:-
- Quick claim settlement
- Instantaneous Purchase
- Wide range of Add-ons
- Claims are settled within 3 days of the application
- The complaint is resolved within 15 days of acknowledgment
- Claim payment is made within 3 days of discharge voucher receipt.
|
Highlights:-
- Instant policy
- Get a soft copy of the policy instantly to your mail
- Customer-centric approach
- Customer service assistance with online support to the customers
- Easy claim settlement
- Get a personal accidental cover up to 1 Lakh.
- Get your claim settled without any hassle within 7 working days.
|
Highlights:-
- New India Assurance is the first non-life insurance company to get an 18,000 Cr premium.
- Been a market leader for four 4 decades.
- New India Assurance is the only Global Insurance company with a presence in over 28 states.
- New India Assurance has a total Assets of 61,720 Cr. and a total Net worth of 28,895 Cr.
- New India Assurance Add-on covers
- Get the New India Assurance add-on covers for extended benefits in case of any mishap.
|
PolicyBachat insurance market is huge and offers a wide range of car insurance plans at economical rates. At present, several insurance companies provide reliable car insurance plans. The insurers offer unique features and personalized facilities to cater to different sorts of customer needs.
Premiums and Pricing Comparison for Future Generali and New India Assurance Car Insurance:
When comparing the pricing structures of Future Generali and New India Assurance car insurance, several factors come into play that can influence premium rates. These factors include the vehicle type, age, location, and profile of the policyholder. Understanding these factors will help determine the potential differences in premium quotes.
- Vehicle Type: The type of vehicle you own is a significant determinant of your insurance premium. Typically, high-end or luxury cars have higher premiums due to their higher repair and replacement costs. On the other hand, economy cars or older vehicles may have lower premiums.
- Age of the Vehicle: The age of your vehicle can also impact the premium. Newer cars may have higher premiums due to their higher market value, while older cars may have lower premiums as their value depreciates over time.
- Location: The location where the vehicle is primarily used or parked plays a role in premium calculation. Areas with high population density or a higher risk of theft, accidents, or natural disasters may result in higher premiums compared to low-risk areas.
- Policyholder's Profile: Insurance companies consider various factors related to the policyholder's profile, such as age, gender, driving experience, and claims history. Younger or inexperienced drivers, male drivers statistically considered a higher risk, or individuals with a history of accidents or traffic violations may face higher premiums.
Example Scenarios:
Scenario 1:
- Policyholder: 35-year-old driver with a clean driving record.
- Vehicle: Sedan.
- Location: Urban area with moderate traffic.
- Future Generali Premium Quote: Rs. 6282 per year.
- New India Assurance Premium Quote: Rs. 7292 per year.
Scenario 2:
- Policyholder: 25-year-old driver with a history of accidents.
- Vehicle: SUV.
- Location: High-risk area with heavy traffic.
- Future Generali Premium Quote: Rs. 8262 per year.
- New India Assurance Premium Quote: Rs. 9366 per year.
These examples demonstrate that premium quotes can vary based on several factors. It's important for policyholders to consider their specific circumstances, compare quotes from both insurers and choose a policy that offers a balance between affordability and adequate coverage.
Disclaimer:-*The Premiums displayed above are for user reference only for exact readings compare car quotes.*
What Feels Right to You?
When it comes to choosing between Future Generali Car Insurance and New India Assurance Car Insurance, the decision should ultimately be based on what feels right for you. Consider factors such as coverage options, add-ons, customer service, claim settlement ratio, cashless garage network, and pricing that align with your specific needs and preferences. Evaluate the reputation and financial stability of each company, and weigh them against your own requirements to make an informed choice that provides the right balance of comprehensive coverage, competitive pricing, and satisfactory customer experience.