New India Assurance Company Limited is one of the oldest general insurance companies in India. It is the only direct insurance company in India rated A-(Excellent) by the 'AM BEST Company' since 2007. The cost of New India Assurance car insurance varies depending on the type of policy that you choose to buy.
New India car insurance from New India Assurance Company Limited, a wholly-owned subsidiary of the Government of India, serves millions with the help of its effortless cashless garage facilities across the country and 24x7 customer supports. The company has come out with multiple plans at reasonable prices to cater to the different needs of customers.
The New India General Insurance Company offers all types of car insurance policies namely third-party car insurance policies, standalone own-damage car insurance policies, liability-only car insurance policies, private car, as well as comprehensive car insurance policies.
With these policies, liability is covered for an unlimited amount in respect of death or injury and damage to third party property, and coverage is offered for loss or damage to the insured car and its accessories due to fire, explosion, self-ignition or lightning, burglary, housebreaking or theft, riot and strike, landslide, earthquake, flood, cyclone, and so on.
- New India Assurance is the first non-life insurance company to get 18,000 Cr premiums.
- Been a market leader for 4 decades.
- New India Assurance is the only Global Insurance Company with its 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.
- No-Claim Bonus: The No Claim Bonus is a discount offered on the next year’s premium. If you make no claims throughout the year, you are benefitted from the huge discount on the next year’s premium.
|NO. OF YEARS
|One claim-free year
|Two consecutive claim-free years
|Three consecutive claim-free years
|Four consecutive claim-free years
|Five consecutive claim-free years
- Voluntary discounts: This discount is offered if you decide to pay the minimum amount of money at the time of claim. If you don’t make any claims you still get discount and neither the minimum amount you agreed to pay at time of claim.
- Have an Automobile Association membership
- Install Anti-theft device in your insured car.
Why Buy New India Assurance Car Insurance Policy?
|The dangers and Risks covered are
|Types of Coverages
- Private car
- Commercial Car
|Third Party Property Damage
|Up to Rs.7.5 lakh
|Own Damage Cover
|Coverage for Own Car for Its Loss and Damage
|Personal Accident Cover
|Up to Rs. 15 lakh
|24/7 Claim Assistance
|6 Add-on covers
|Incurred Claim Settlement Ratio
|Claim Settlement process
|Quick & Hassle-free
Types of New India Assurance Car Insurance Plans in India:
1. Standalone Compulsory Personal Accident Cover:
Owner-driver, passenger, and paid driver personal accident cover: The Owner-driver personal accident cover of the sum insured of Rs. 2 lakhs in case of permanent total disability or accidental death is covered with a premium of Rs. 100
Personal Accident cover for passenger/occupants is available with a sum insured of Rs. 2,00,000 for each occupant on a premium of Rs. 100/person
- Paid Driver cover: Legal liability covers a paid driver with a premium of Rs. 50 annually
Loss of two limbs or loss of sights of two eyes or one limb and sight of one eye (100%)
Loss of one limb or sight of one eye (50%)
Permanent Total disablement from injuries other than above (100%).
2. Standalone Own Damage Cover:
Under New India motor insurance, you will get compensation for losses or damages to the insured vehicle, due to the following:
Fire, Explosion, Self-ignition, Flood, Inundation,
Typhoon, Tempest, Hurricane, Storm, Cyclone, Hailstorm, Frost
Lightning, Earthquake, Landslide, Rockslide
Burglary, Housebreaking, theft, riot, malicious act or terrorist activities, accidental damages by external means, damages in transit by road, rail, inland waterway, lift, elevator or air.
3. Private Car:
As per the Motor Vehicles Act, 1988 it is mandatory for every owner of a vehicle plying on public roads, to take an insurance policy, to cover the amount, which the owner becomes legally liable to pay as damages to third parties as a result of accidental death, bodily injury or damage to property.
Two types of Private Car Covers are available:
- Liability only policy: This covers third party liability for bodily injury liability and/or death and property damage. Personal Accident cover for Owner-driver is also included.
- Death or bodily injury to a third party person.
- Damage to third party property.
- This covers loss or damage to the vehicle insured. Package policy:
- 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
4. Third-Party Liability Car Insurance Policy:
This New India car insurance online plan provides protection against financial expenses arising from legal expenses in case of damages or losses to a third party property and death, injuries to a third party due to your vehicle. As per this scheme, you will get Rs. 7.5 lakhs for third party property damages.
The plan includes personal accident cover for the owner-driver of the insured vehicle.
However, it does not offer coverage for the insured car itself.
The policy is also cheaper than a comprehensive package policy.
What is covered?
Damage or loss to the insured car and/or its accessories caused due to any of these natural and manmade disasters can be claimed against car insurance from New India Assurance:
- Flood, lightning, storm, hurricane, typhoon, hailstorm, cyclone, fire, explosion
- Earthquake, rockslide, landslide
- Burglary, theft, housebreaking
- Riot and terrorist activities
- Malicious acts
- Accidental external means
- Loss or damage in transit by road, elevator, waterway, or air.
What is not covered?
- Wear and tear, breakdowns
- Consequential loss
- Loss when driving with an invalid driving license or under the influence of alcohol.
- Loss due to war, civil war, etc.
- Claims arising out of contractual liability.
- Use of vehicle that is not by `limitations as to use' (e.g. private car being used as a taxi).
New India Assurance Claim Process:
- Inform the insurance provider
- Take pictures of the incident and damages
- Keep the necessary documents
- Inspectors visit
- Survey of the damaged vehicle
- Document Verification
- Compensation provided by the company.
Private Car Claim process:
i. Accidental damage to the vehicle:
- Immediate intimation to the nearest office, which will issue a Claim Form.
- Claim Form duly filled in to be submitted along with a copy of Registration Certificate and driving license of the driver of the vehicle at the time of the accident as also estimate of repairs.
- The vehicle will be surveyed by a Surveyor, appointed by the insurance company, who shall submit his report to the company. In case of major damage to the vehicle, a spot survey, at the site of the accident, would also be arranged by the company.
- Final bills/cash memos are to be submitted duly signed by the insured.
- Salvage of the damaged parts may be required to be deposited with the insurance company after approval of the claim.
ii. Theft of the vehicle:
- Lodge an F.I.R. with the police immediately.
- Inform the policy issuing office with a copy of the FIR.
- Submit the Final Police Report as soon as it is received.
- Extend full cooperation to the surveyor and/or investigator appointed by the company.
- After approval of the claim by the company, get the Registration Certificate transferred in the name of the company, hand over the keys of the vehicle, and submit a letter of Subrogation and Indemnity on stamp paper duly notarized.
iii. liability claim:
- Inform the insurance company immediately of any incident likely to give rise to a liability claim.
- On receipt of summons from the Court, the same should be sent to the company immediately.
- Claim Form duly filled in a long-with copy of Registration Certificate, Driving License, and FIR is to be submitted.
Documents Required to Raise Claim Under New India Assurance Car Insurance:
- Duly filled claim form
- Copy of driving license
- Certificate of registration
- Road tax verification
- Police FIR
- Claim intimation received by the insurer
- An estimate of repairs and a stamped receipt from the repairer
- Copy of the plan and receipt of payment of premium
- Fitness certificate
- Repair bills done at network garages.
New India Assurance Add-on Covers:
Personal Belongings Cover: This add-on insures you against the loss or damage incurred to the personal belongings kept in the car at the time of theft or any mishap of the car. The coverage under this add-on is limited to Rs. 20,000 with an additional 20% of the sum insured i.e. Rs. 4,000 for each item or the actual price, whichever is lesser. This add-on is available for cars aged up to 7 years.
Enhancement Cover/Zero Depreciation Cover: This coverage insures you against the depreciation applicable on your car and its plastic and metal parts at 100% except for tyres, tubes, and batteries which are covered at 50%. This cover helps you receive a higher claim amount by freeing you from the liability of bearing depreciation expense.
No Claim Bonus Protection Cover: No Claim Bonus refers to the reward which you get for not making even a single claim during the entire period of your car insurance plan. This reward ranges from 20% to 50% of your own-damage premium and is available to you at the time of renewal.
Engine Protection Cover: The engine and gearbox of your car are not insured by default under a standard car insurance plan. Thus, this add-on helps you get the engine and its parts along with the gearbox insured against damages caused by oil leakages and ingress of water. This add-on is available for cars not more than 5 years of age.
Road Tax Cover: In cases of theft of your car as well as constructive total loss (when the damage is more than 70%) this add-on helps you get the Road Tax charges on the replacement of your car. The cover is for cars aged up to 5 years.
Return to Invoice Cover: This cover helps you get the Invoice Price of your car as compensation instead of the Insured Declared Value (IDV) in case of the total loss and theft of your car. The invoice price refers to the amount which you paid at the time of purchasing your car. It includes the ex-showroom price of your car, road-tax, and the registration charges of your car. This add-on cover is available for cars with invoice prices not exceeding Rs. 20 lakh and cars which are not more than 3 years of age.
How to Calculate New India Assurance Car Insurance Premium Quotes?
Comprehensive car insurance prices depend on the following factors. There is no standard list of insurers who provide the lowest car insurance price in India for all types of cars.
1. IDV of Car
Insured Declared Value of the car is its manufacturer’s showroom listed price minus the cost of depreciation. IDV also equals the maximum insured sum.
2. Make and Model
Your car’s model and make also decide the premium price of the insurance policy.
3. Age of Car
The more the age of the car, the more will be the car insurance premium price and vice versa.
4. Add-Ons Purchased
The cost of availing of add-on covers adds to the car insurance premium cost. The more the add-ons purchased, the higher will be the car insurance policy’s premium price but the more will be the insurance coverage.
5. Geographical Location
The car insurance premium is also affected by the location of the RTO at which the car is registered. Two car insurance policies for the same car and from the same insurer will be different for cars registered in different cities or different areas of the same city.
Factors like car insurance add-on covers, discounts, the purpose of the vehicle, and safety features such as airbags and anti-theft devices will also be taken into consideration while calculating your car insurance premium. Below are a few premium samples for your better understanding.
|Zero depreciation cover
|10. 34 lakh
How to Buy New India Assurance Car Insurance Online?
You can now instantly purchase a New India Assurance Private Car insurance policy online, avail yourself of the benefit of calculating premium and choose the insurance plan that would best suit your needs. Buying car insurance online can be done through a simple three step process on our website as per your convenience. Follow these simple steps to avail a policy within minutes:
- Fill in the required details and select a new policy or renew the policy
- Give the personal details; select the policy coverage and add-ons of your choice.
- You will get an instant car insurance premium quote. If you are satisfied with the quote, you can proceed to pay the premium online.
How to Renew New India Assurance Car Insurance Online?
With New India Assurance, car insurance renewal is a quick and hassle-free process. With Zero paperwork and speedy processing, you can renew your car insurance policy in no time. The renewal process is more or less the same as buying a new policy and can be done through three simple steps.
- Go to the New India Assurance car insurance renewal page
- Fill in the required details and car registration number as well
- Click on the renew option
- Choose the required add-ons such as zero depreciation, roadside assistance cover, Return to invoice cover, Engine protection cover, NCB, and Tyre secure, etc.
- Make sure the information handy about any claims made in the premium is generated and displayed on the screen.
- Complete the car insurance premium payment online, and your expired policy is renewed.
Is New India Assurance Good for Car Insurance?
New India Assurance Company, a leading insurance company in India, has recently introduced a new product - New India Assurance Car Insurance. This product is designed to give customers peace of mind that they are protected from any eventuality. New India Assurance Car Insurance is a comprehensive car insurance policy that includes all the major aspects of an individual's car insurance needs. These include coverage for theft, fire, and accidental damage to your vehicle. New India Assurance Car Insurance also includes coverage for personal liability and medical expenses in case the driver or passengers are injured or become ill due to an accident.
How to Download Car Insurance Policy from New India Assurance?
New India Assurance Car insurance policy copy can be checked by contacting the intermediary from whom the policy was taken or the insurance policy copy can be found on the mParivahan app which displays the start date and end date of the insurance policy. If you can remember the intermediary from whom the policy was taken you can talk to them about the status of the policy or in case you have taken the New India Assurance general insurance policy from PolicyBachat then you can call our customer care to enquire on the insurance policy.
How to Claim Car Insurance in New India Assurance?
To claim New India Assurance car insurance follow the below steps;-
- Report the incident
- Register your claim
- Inspection of damages
- Submit the documents
- Claim settlement.
How to Pay Car Insurance Online For New India Assurance?
It is known easy to pay Car Insurance Online the claim amount or claim process with net banking, debit, or credit cards; you can pay in your comfort of home. Make sure with fraudsters after completion of buying car insurance our customer service will support you to the further needs. Please verify our portal and get the customer care number talk to our agent if any queries.