New India Assurance Car Insurance
New India Insurance Co. Ltd. commenced its operations in the year of 1919. Sir Dorabji Tata established New India Assurance Company and soon it became one of the largest general insurance providers in India. The Company is also a prominent name in the overseas markets such as Australia, Middle East, U.K, Japan, and Fiji. New India Assurance is also a popular name in the motor insurance sector.
As per the motor vehicles law, it is mandatory to carry your vehicle insurance documents while driving in India. You can buy a personalized New India Assurance Car Insurance Policy and get the desired protection while driving on the roads.
New India Assurance Car Insurance Policy Overview:
|Incurred Claim Ratio||91.26%|
|Third-party Property Damage Cover||Up to Rs. 7.5 Lacs|
|Zero Depreciation Cover||Add-on benefit|
Why New India Assurance Car Insurance?
New India Assurance car insurance policy can be personalized as per your need and preferences.
Comprehensive vehicle insurance secures you against any damage caused to your car. Moreover, it also covers the damage caused to another car, property or person by the insured vehicle.
However, if you buy only a third-party liability cover, it will protect you financially from any legal liabilities arising due to third-party death, bodily injuries and property damage caused by your vehicle.
You can easily buy New India Assurance car insurance online. Moreover, you can also renew your car insurance online. It saves both your time and effort.
However, ensure that you get the sufficient coverage and be able to decide the most appropriate one.
New India Assurance Car Insurance Key Features and Benefits
If you buy the New India Assurance car insurance policy you can avail the following benefits –
- Cashless service at network garages across India
- A speedy online renewal process
- Special benefits including no-claim-bonus protection, zero depreciation cover etc.
- Seamless claim settlement process
New India Assurance Private Car Insurance Inclusions
The policy compensates for own damages and third-party damages. It offers the required protection to the insured in the following manner-
1. Own Damage Cover (Comprehensive Insurance)-
New India Assurance Car Insurance covers loss or damage caused to the insured car under the following circumstances-
- Theft, burglary, and housebreaking
- Self-ignition, lightning, fire, and explosion
- Riots and Strike
- Accidental damage by external means
- Terrorist and malicious activities
- Flood, earthquake, landslide, typhoon, storm, hurricane, and cyclone
- Damage caused during transit
2. Third-Party Liability Insurance
It is essential to buy third-party car insurance if you own or drive a vehicle in India. New India Assurance car insurance ensures coverage for third party liability arising out of third-party injuries, death and property damages.
In case of third-party property damage, up to INR 7.5 lacs is compensated by the insurer. An unlimited cover is provided in the event of a third-party death from the insured vehicle.
New India Assurance Car Insurance for Private Cars
Add-on covers are special benefits that you can buy above the benefits provided in a comprehensive car insurance plan. New India Assurance Car Insurance offers certain add-on covers that you can choose as per your requirements.
You can choose one or more than one add-on covers by paying an extra amount of premium. Have a look at some of the additional benefits that are offered by the insurer-
1. No-Claim-Bonus Protection
No-claim-bonus is accrued to the policyholder’s account for not making any claim during the policy period. This amount is reduced from the insurance premium at the time of policy renewal.
If the claim is made during the policy, then NCB is invalidated. To secure your no-claim-discount, you can buy a No-Claim-Bonus Protection cover. This can help you save up to 50% on your car insurance premium for all the claim-free years.
2. Zero Depreciation Cover
While settling the claim, the insurer calculates depreciation on certain parts of your car. It may reduce your claim amount. If you opt for zero depreciation cover, you are entitled to get the full motor insurance claim amount.
3. Roadside Assistance
It is one of the most useful add-on covers that you can buy with your vehicle insurance policy. You can avail round-the-clock assistance for engine jumpstart, flat tyre change, refuelling and towing in case your vehicle breaks down in the middle of the road.
4. Engine Protection Cover
Usually, a car insurance policy does not provide engine cover. However, if you opt for engine protection cover, then New India Assurance Car Insurance will recompense engine-related non-accidental damages or repair as well. If you own a luxury or sports car, this cover is highly recommended for you.
Please note that the engine protector cover is valid for cars up to 3 years of age.
Optional Cover Available in New India Assurance Car Insurance
You can also buy Raasta Aapatti Kavach policy from the insurer by paying an additional amount of premium. It includes personal accident cover and compensation of the expenses incurred on accidental hospitalization for own damage and third-party damage. However, the sum insured ranges from INR 25,000 to 1 lakh. It further extends to INR 10 lakhs.
New India Assurance Car Insurance Exclusions
The policy doesn’t cover loss or damage caused to the vehicle under the following circumstances-
- Consequential loss
- Routine wear and tear
- If the driver is found to be driving without a DL
- Contractual liabilities
- If the driver is found to be driving after the consumption of alcohol
- Damage caused due to radioactivity and any war like condition
- Use of vehicle for any other purpose other than the one mentioned in the policy documents
- Using a private vehicle for commercial purpose will also invalidate your claim
Inclusions of New India Assurance Commercial Vehicle Insurance
It is mandatory to buy commercial vehicle insurance for every owner of a commercial vehicle plying on the roads. All the vehicles being used for commercial purposes are covered under this policy. The owner/driver needs to carry the Insurance Certificate in the vehicle as a proof.
There are two types of commercial vehicle insurance policies –
- Third-party Liability Insurance – The insurer shall reimburse the financial and legal liabilities arising due to third-party death, bodily injuries, vehicle and property damage. Moreover, the owner/driver is also given a personal accident cover.
In case of third-party death or injuries, unlimited compensation is provided. However, for third-party property damages, compensation up to Rs.7.5 lacs is provided. The maximum limit for two-wheelers is kept at Rs. 1 lakh.
- Comprehensive Package Policy – Besides third-party liability cover, it also includes loss or damage caused to the insured commercial vehicle and its accessories due to following reasons-
- Explosions and fire
- Malicious Activities
- Strike and Riots
- Terrorist Activities
- Accidents resulting due to external factors
- Earthquake, typhoon, storm, flood, cyclone, and landslide
- While in transit by air, road, lift, water, lift, and elevator
Furthermore, towing assistance is also provided from the place of incident to the garage. For bikes and scooters, the limit of compensation is Rs. 300.
Whereas, for private and commercial vehicles, the compensation limit is capped at Rs. 1500. You can increase the limit by paying an additional amount of insurance premium. You can also avail 20% to 50% of No-claim-bonus for all the claim-free years.
Exclusions of New India Assurance Commercial Vehicle Insurance
The insurer shall not entertain the claim request arising out of the following reasons-
- Consequential losses
- Contractual liabilities
- Vehicle Breakdowns
- Driving without a DL and post consumption of liquor and other forms of intoxication
- Wear and tear of the vehicle
- Damage resulting due to war-like conditions
- Using the vehicle for purposes other than mentioned in the policy wordings
How To Compare and Buy Car Insurance Online?
By comparing car insurance quotes online, you can save a lot of money. If you buy a third-party policy, the premium will be less. And, if you buy a comprehensive plan, the premium will be higher.
Car insurance prices will vary based on the coverage you opt for and also the additional benefits that you may want to buy. For instance, if you are buying a comprehensive car insurance policy, along with any of the add-on covers like roadside assistance cover, key replacement cover, zero depreciation cover etc. the premium will be on the higher side.
However, do not just make the decision based on the cost of the insurance premium. Make sure that you have an adequate coverage to secure yourself and your vehicle against any unforeseen circumstances.
The idea is to compare car insurance online and know your car insurance plan properly before making the payment.
You also need to check the sum assured value, as it will vary based on the car make, model and manufacturer’s selling price.
Steps to Buy Car Insurance Online From New India Assurance
To buy insurance for a new vehicle you can click on the link below- https://www.newindia.co.in/portal/Quote.html?product=PC
You will receive a detailed car insurance quote after submitting the following details –
- Vehicle Details: Year of Manufacture, Date of purchase, Make & Model, City of Registration, Variant, Cubic Capacity, Seating Capacity, Fuel type, Vehicle Zone, Suggested IDV, IDV, and Total IDV.
- Coverage Details:
- Opt for either of them – Enhancement/Package/Liability Policy
- Answer with a Yes or No to this question – Does the owner drives the vehicle? If yes, provide the license type of the owner/driver. Also, choose the sum insured for PA to the owner-driver.
- Policy Period: Choose the policy start, end date, and policy duration
- Accessories Cover: Total value of extra electrical and electronic fittings, their IDV, and value of non-electrical fittings in the vehicle.
- Additional Discount: Select if you have an anti-theft device installed or if you have the membership with any Automobile Association in India.
- Optional/Additional Covers: PA cover to an unnamed person, legal liability cover to a paid driver or maintenance of the vehicle under WCA.
- Contact Details: Mobile number and email id
Use Car Insurance Premium Calculator
You can easily calculate the premium for car insurance online using a car insurance premium calculator on the insurer’s website. Once you submit your vehicle details, policy term, coverage details, additional covers and contact details, you can click on calculate premium button. Moreover, you can also speak to one of their customer care representatives for further assistance.
Factors Affecting Car Insurance Prices
Following factors are taken into consideration to determine the cost of vehicle insurance-
- Geographical zone
- Cubic capacity
- Insured Declared Value
- Age of the vehicle
- GVW of in case of commercial vehicles
- Add on Covers
New India Assurance Car Insurance Renewal
Once your policy is expired you can easily renew it online. You can renew the policy bought from New India assurance and from another insurer as well.
How to Renew New India Assurance Car Insurance Policy Online?
You just need to make the payment online using your debit/credit card/net banking. For quick car insurance renewal, here are the steps that need to be followed-
- Enter renewed insurance quote number or previous policy number and Customer ID ( as mentioned on the policy documents)
- View the details submitted
- Now save the car insurance quote to proceed
- Make the payment online through net banking/ debit card/ credit card
- Once the payment is done, your policy will be renewed.
New India Assurance Car Insurance Claim Procedure
To file a vehicle insurance claim under the New India Assurance Car Insurance policy, the process goes as follows-
Filing accidental claims with New India Assurance Car Insurance
- Immediately inform about the incident at the nearest policy issuing office. You can register the claim online as well. Post intimation, a claim form will be issued in your name with a claim reference number.
- Duly filled claim form needs to be submitted along with the driving license and Registration Certificate (RC).
- In the event of a major damage, on the spot inspection of the vehicle will be conducted by the insurance company. Otherwise, a surveyor will be appointed to assess the damaged vehicle. A report will be submitted to the insurance company on the basis of the survey conducted by the surveyor.
- The insured needs to sign the cash memos/final bills.
- Once the claim is approved, the damaged parts need to be deposited with New India Assurance Car Insurance
Filing Theft Claims with New India Assurance Car Insurance
- Immediately lodge an F.I.R. at the nearest police station.
- Inform the policy issuing office with a copy of FIR.
- Submit the final police report as soon as it is received.
- Full cooperation is required with the surveyor or investigator appointed by New India Assurance Car Insurance.
- Once the claim is approved, hand over the car keys and Registration Certificate
- Submit a letter of Subrogation and Indemnity on duly notarized stamp paper.
Filing Liability Claims with New India Assurance Car Insurance
- Inform the insurer about an incident that is likely to give rise to a third-party liability claim.
- Submit the duly filled claim form along with copies of Driving license, Registration Certificate, and Police FIR.
- Once you receive the summons from the Court, submit them to the insurance company.
Documents Required for New India Assurance Car Insurance Claim
Following documents are required to file a claim with New India Car Insurance Company –
- Claim intimation copy
- A copy of policy documents and payment receipt
- Claim Form ( duly filled)
- Police FIR
- Road tax verification
- Repair estimate and bills
- Vehicle Permit & Fitness Certificate
- Other documents ( if required)
New India Assurance Car Insurance FAQs
Q1. Is it mandatory to have car insurance for all the vehicle owners?
As per the Motor Vehicles Act, it is mandatory to have third-party liability insurance coverage. You can buy New India Assurance Car Insurance Motor Liability Policy to get third-party damage cover.
Q2. What type of car insurance policies can I get for my car?
You can choose from two car insurance policies from New India Assurance Car Insurance – Motor Liability Only Policy and Motor Package Policy.
Q3. What is covered under the New India Assurance Car Insurance Motor Liability Policy?
Loss and damage caused to a third-party from the insured vehicle are covered.
Q4. What does the New India Assurance Car Insurance Motor Package Policy Cover?
It compensates for any loss or damage caused to a third-party from the insured vehicle. It also covers risk arising and damages caused to the insured vehicle due to an accident, fire, explosion, and other man-made disasters.
Financial protection is offered against the damages caused by natural calamities like flood, earthquake, storm etc. Any damage caused during the transportation by road, rail, air and inland waterways is also covered.
Q5. What are the exclusions under the New India Assurance Car Insurance Package Policy?
New India Assurance Car Insurance Package Policy shall invalidate your claim under the following conditions-
- Driving while consuming alcohol
- Driving without a valid driving license
- Damage caused to the tyres (unless the vehicle is also damaged at the same time)
- Normal wear and tear
- Mechanical breakdown
Q6. What are the documents required for settling a claim with New India Assurance Car Insurance?
- Duly filled Claim Form
- Vehicle Registration Certificate
- Driving License
- Copy of Police FIR
- Copy of claim intimation given to New India Assurance Car Insurance
- Xerox copy of policy and premium receipt
- Estimate of repairs from the workshop with and receipt ( stamped)
- Original Bills
- Cash memo of repair
- Road tax verification
- Permit and fitness certificate and any other documents deem feet for the situation.
Q7. Is cashless claim settlement provided by New India Assurance Car Insurance?
If the vehicle is repaired in one of the registered workshops, the amount is directly settled to the repairer by the insurer. If it is done at a non-network garage, then a reimbursement claim request can be made.
Q8. What is the amount that the insured has to pay?
The insured needs to pay the compulsory deductibles, depreciation and the reasonable value of salvage if not surrendered to the insurance provider.
Q9. What is the Solatium Fund Scheme?
The central government formed this scheme to compensate the victims of ‘Hit and Run’ motor accident. The compensation for serious injuries is Rs. 12,500 and in case of death, the amount of compensation is Rs. 25,000.
Q10. Can I avail a discount while renewing my policy with New India Assurance car insurance company?
You can avail No-claim-discount up to 50% while renewing the policy. The amount is based on the NCB that you have accrued over the years.