New India Assurance vs National Car Insurance

Thinking about which type of car insurance you need? Explore different options and policies available to find one that suits your needs the most! You'll always want to make sure you're adequately covered. The financial implications of this decision are long-lasting and can sometimes be irreversible...Read More

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New India Assurance Vs National Car Insurance Comparison

To make a good decision on car insurance, you should know what is available to you and which one will best benefit your specific needs. However, this decision has become much easier with the help of PolicyBachat.

Looking for New India Assurance vs National Car Insurance Comparison, Key Benefits, and Features to buy the best car insurance, PolicyBachat is helping you find the best one. The two insurance companies, New India Assurance, and National Car Insurance are both well-established in the Indian insurance market.

They have been around for many years and provide a variety of insurance plans to their customers. They have a significant customer base that provides service & convenience for potential clients. Both companies offer car insurance for your needs. Here are some of the key differences you should be aware of before deciding on a company.

Key Points New India Assurance Car Insurance National Car Insurance
Claim Settlement Ratio 85.35% 78.55%
Cashless Garages 3000+ 3100+
Solvency Ratio 2.13 0.62
Branches 2214 373+
Claims Settled 3.7 lakhs 2.3 lakhs

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's 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.

What is Not Covered?

  • Wear and tear, breakdowns
  • Consequential loss
  • Lose 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.

National Car Insurance:

National Insurance Company Limited (NIC) is one of the oldest and most preferred general insurance firms in the country. The company is one of the oldest insurance players offering multiple insurance policies to fulfill the different needs of the customers.

National Insurance Company, one of the premier insurance firms in India, offers a third-party liability policy and a comprehensive car insurance policy. The company also offers benefits like cashless claims settlement, discounts, etc., to customers.

National Car Insurance is meant to protect private car owners against any own car damages and legal liabilities. Additionally, it also offers personal accident cover to provide financial assistance during any injuries caused due to an accident.

What is Covered?

  • Loss incurred by the insured’s car in the following events:
    • 1. Burglary or theft
      2. Riot and strike
      3. Terrorist Act
    • 4. Fire, explosion, or lightning
      5. Earthquakes, floods, typhoons, hailstorms, etc.
      6. Rockslide or landslide incidents
      7. Accidental external means and so on.
  • Injury or death of third party due to an accident involving the insured’s car
  • A compensation of up to Rs 7.5 lakh for third party property damages.

What is Not Covered?

  • Any wear-and-tear of the car due to aging
  • Any mechanical and electrical breakdown
  • Private cars used for remuneration purpose is not covered
  • Driving without a valid driving license
  • Loss or damage caused while driving under the influence of alcohol or any other intoxicating substance
  • Loss or damage due to depreciation of the car's value
  • Loss or damage due to war or nuclear risks
  • Consequential loss - if the original damage causes subsequent damage / loss, only the original damage will be covered under our motor car insurance.
  • Compulsory deductibles - a fixed amount that gets deducted at the time of the claim.

Comparison of New India Assurance Car Insurance vs National Car Insurance:

Two of India's most popular car insurance companies are New India Assurance and National. Both companies have been in business for decades and provide a reputation for trustworthiness & reliability.

New India Assurance Insurance and National 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’s take a look at the differences between these two plans, and see which one is better suited for your needs.

Distinguish New India Assurance Car Insurance National Car Insurance
Types of Policies
  • Standalone OD (Own Damage)for Private Car
  • Private Car
  • Standalone CPA (Compulsory Personal Accident) Cover.
  • Private car liability policy
  • Private car package policy.
Add-ons/ Riders
  • Zero Depreciation Cover
  • Road tax cover
  • No Claim Bonus
  • Engine Protect Cover
  • Towing Charges
  • Co-passenger Cover
  • Hydrostatic lock.
  • Liability only cover
  • Package cover
  • NCB protection
  • Return to Invoice value protection
  • Engine Protection
  • Key & lock Protection
  • Consumables Protection
  • Roadside Assistance
Extra Coverages
  • Loss or damage to accessories fitted in the vehicle such as stereos, fans, air-conditioners, etc.
  • Personal accident cover under private car policies for:
    • Passengers
    • Paid driver
  • Legal liability to employees.
  • Legal liability to non-fare paying passengers in commercial vehicles.
  • Optional personal accident cover of up to Rs. 15 Lakh for the insured
  • Optional coverage for the co-passengers in the insured’s car for up to Rs. 2 Lakh
  • No-claim discounts ranging from 20% to 50% are applicable on own damage premium
  • Availability of add-on covers like Zero depreciation, Engine protect, NCB protect etc.,
  • Fast cashless claim settlement procedure at network garages of National General Insurance.

What are the Benefits and Features of New India Assurance Vs National Car Insurance?

Car insurance is a vital part of the commute for most people. It protects them from financial loss if their vehicle is stolen or damaged. It offers protection from financial loss in the event of an accident, and it covers damages to a vehicle as well. Car insurance is also important for those who have serious medical conditions that could put them at risk if they get behind the wheel without coverage.

New India Assurance Car Insurance National Car Insurance

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.

Features:-

  • Instant car insurance renewal Hassle-free instant zero paperwork renewal
  • Claim settlement Quick and hassle-free claim settlement
  • Claim Assistance Service 24x7 claim assistance
  • Decision on claims approval within 7 working days from the receipt of all 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".

Benefits:-

  • Coverage of Rs.2 lakh for the owner-driver in case of a permanent total disability or an accidental death on a premium of Rs.100.
  • Passenger Personal Accident cover: Passenger Personal Accident cover can be availed with 100 Rs/person for a Sum Insured of Rs.2, 00,000 for each of the occupants.
  • Legal liability for Paid driver: Liability cover with a premium of 50 Rs/annually for the paid-driver
  • No claim Bonus covers up to 50%.

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.

Highlights:

  • National Insurance is the First Company to introduce the “Office on Wheels in India”.
  • National Insurance Provides 24x7 Live Chat Support.
  • Discounts are also offered for vehicles that have anti-theft or other security devices installed.

Conclusion:

To be safeguarded against any unfortunate incidents which negatively impact your finances, it is best to be insured. Check the features & benefits of New India Assurance vs National before concluding on the right insurance policy. Configure the premium with the benefits availed on New India Assurance vs National, and compare top car insurance company quotes from top insurers online on PolicyBachat.

When picking a car insurance company, make sure to pick the one with everything you're looking for and that suits your requirements. It's important to get all the information you need before making any decisions and going with a company that will provide the best coverages so you feel confident in your cover.

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