New India Assurance Car Insurance

NEW INDIA ASSURANCE CO. LTD, established by Sir Dorabji Tata in 1919, a Multinational General Insurance Company, today functions in 28 countries and is stationed in Mumbai, India. Their global business crossed Rs. 31573 crores in March 2021.

An overview:

New India car insurance is a complete motor vehicle plan proposed by New India Assurance. New India Assurance is the largest and most senior public sector comprehensive insurer in India. Stationed in Mumbai, the company has an existence in more than 28 countries throughout the world with an international business (as of March 2019). In addition, the firm is also offering its service in the United Kingdom, Trinidad, Japan, along with Mauritius and Tobago. New India car insurance includes standalone for motor PC, Mauritius, two-wheeler insurance, standalone OD for motor TW and private car.

They have been ruling the market, separated from premium, net worth, and in reserves & for many years.

List of best Car Insurance Products from New India Assurance Car Insurance

Liability only plan

Liability only policy covers the third party obligation for bodily damage liability and/or demise and property harm. Personal Misfortune cover for Owner-driver is also contained.

Package policy. This covers loss or harm to the vehicle assurance in addition to the above. No- claims are the discounts that are available on the revival of the policy, varying from 20% to

50%, relying upon the kind of vehicle and the number of years for no claim that has been made.

Scope

Liability Only policies:

The policy shields the vehicle owner’s lawful liability to pay remuneration for:

  • Death or physical injury to a third party person.
  • Injury to third-party property.

Package Plan

In addition to that coverage underneath liability simply, this policy protects loss or harm to the insured automobile and its equipment due to:

  • Fire, blast, self-ignition or thunder.

    Theft, housebreaking or robbery.

  • Hoot and Strike.

  • Evil Act.

  • Anti-terror Act.

  • Tremor (Fire and Trauma) Damage.

  • Tide, Storm, Hurricane, Turmoil, Tempest, Flood, Cyclone and Flurry.

  • Accidental foreign means.

  • Whilst in the passage by road, inland watercourse, lift or air.

  • By landslide/Rockslide

The policy even pays for hauling charges from the site of calamity to the workshop up to the highest limit of Rs.300/- for those of Scooters or even Motorcycles and around Rs.1500/- for that of cars or commercial automobiles. It is also acceptable to opt for enhanced towing accusation subject to a charge of extra premium.

A limited cover is also generally covering the threat of Fire and/or Robbery only, in addition to the compulsory covering granted beneath the “Liability Only Policy”. Nevertheless the same is not obtainable in the case of automobile ratable beneath Class D, Tariff for Various and special kinds of vehicles.

The noteworthy exclusions under the guidelines are

  • Consequential loss

  • Wear and tear, breakdowns

  • Lose when moving the car with a null driving license or beneath the influence of liquor

  • Loss due to conflict, battle, civil war, etc.

  • Claims deriving out of contracting liability.

  • Use of automobile otherwise than in conformity with `limitatios as to use ‘ (e.g. personal car being employed as a taxi)

Types Of Motor Insurance From New India Assurance

New India Assurance delivers the below-detailed insurance policies for automobile vehicles.

Four-wheeler insurance :

New India Assurance includes two types of four-wheeler insurance policies:

Liability only insurance and Motor Package insurance. The Motor Package insurance is a complete insurance policy that covers (offers coverage) the client’s car from robbery, natural accidents, man-made catastrophes, riots, walkouts, etc. The procedure also offers security from legal penalty to a third party in misfortune and personal calamity coverage for the proprietor of the car. The Liability foremost insurance is a third-party liability policy that presents coverage solely for the third party embroiled in the accident.

Two-wheeler insurance – New India Assurance presents two kinds of policies for two-wheelers:

Liability-only insurance and Motor Package insurance:

The Motor Package insurance is complete insurance and includes own-detriment cover and third-party harm insurance. In case one requires additional security, they can opt for miscellaneous add-ons. Consumers can also choose the Liability only insurance that basically is the tiniest third-party liability policy.

Commercial vehicle insurance:

Specifically created for commercial cars, or automobiles such as trucks, buses, taxis, etc. The Motor Package includes the third-party liability, private accident cover and scope for the vehicle wear. With the benefit of this insurance, we can have the commercial vehicle being protected from robbery, fire, blast, riots, floods, earthquakes, accidents, malevolent activities, etc. Clients can also benefit from a direct claim resolution facility at the quoted New India Assurance network in various garages throughout India.

New India Assurance Car Insurance- Reviews

The entire package for car insurance provided by New India Assurance delivers an add-on that offers economic protection to the policyholder. Being a renowned Government-owned creation, the guarantee of claims arrangement and the ensuing relaxation of mind is unparalleled. What’s better, the company puffs on a strong web of cashless garages and thoughtful after-sales service. If one would rather prefer a car insurance procedure that is supported by the government, then this New India assurance is their best sure-shot selection.

Exclusions of New India Assurance Car Insurance

  • Consequential depletion

  • Wear and tear, breakdowns

  • Depletion when driving with a void driving license or pursuant to the influence of liquor.

  • Loss due to warfare, civil war, etc.

  • Claims resulting out of contractual liability.

  • Use of automobile that is not in harmony with `limitations as to use ‘ (e.g. personal car being employed as a taxi)

New India Assurance Car Insurance- Customer Care Numbers / Contact details

Email: motor.nia@newindia.co.in

Toll-Free – 1800-209-1415

Physical address:

New India Assurance Building, 87, M G Road, Fort, Mumbai MUMBAI

MAHARASHTRA 400001

Official Website: www.new India.co.in

Documents Needed For New India Assurance Car Insurance

The documents needed to file a claim with New India Car Insurance are as follows:

  • Duly filled claim form.

  • A copy of policy papers and payment receipt.

  • Registration certification.

  • Car insurance claims intimation copy.

  • Driving license.

  • Police FIR statement.

  • Road tax proof.

  • Wellness Certificate (for those of commercial vehicles).

New India Assurance Car Insurance: Some important Terms

  • Premiums

Premiums are reliant on the sum guaranteed.

  • Discounts

OD premiums permit for discounts in the subsequent cases:

No-Claim Bonus :

This is presented upon renewal after fulfillment of a policy term wherein zero claims were undertaken. The bonus proposed will range between 20% to 50% relying on the numeral of claim-free years foregoing the regeneration of the policy. Renewals ought to be done in accordance with 90 days expiring of policy.

Installation of approved anti-theft devices, which are sanctioned by the ARAI. Membership with an acknowledged automobile company of India.

Classic or Classic cars are identified as such by the Classic and Vintage Cars Club of India.

Laid-up cars

Use of the motorcar within the place of the insured

New India Car Insurance Add-on Covers

Damages or closings occur on equipment available in the automobile, namely, air-conditioners, fans, stereos, etc. Policyholders can find personal mishap cover for paid drivers and passengers. Cover for lawful liability expenditure to employees. For saleable vehicles, coverage for lawful liability expenditures to non-fare paying commuters can even be availed.

Insured’s Declared Value (IDV)

The IDV is derived from the producer’s sold price of an automobile of the same specification. From this worth, the relevant portion of depreciation is subtracted based on the period of the vehicle. These amounts exist, usually explored for Total Loss (TL) or even Constructive Total Loss (CTL) for the automobile for a term up to five years. Exceeding this period and for cars that are not prolonged in production, the sum to be deducted as devaluation is based on an arrangement between the insurer and the insured.

Benefits and features of New India Assurance Car Insurance

KEY FEATURES COVERAGE AND BENEFITS:

  • Total Network Garages around 3,000+

  • Claim Settlement Ratio 91.26%

  • Third-Party Cover Available

  • Emergency Assistance Available 24×7

  • Personal Accident Cover Available

Why Select New India Assurance Car Insurance?

Some of the benefits of purchasing motor insurance from New India Assurance are detailed below:

In just a periodic click, customers can buy a motor insurance policy -a commercial vehicle insurance policy or even two-wheeler insurance.

Customer claim appeal and settlement accommodation:

Customers’ subscriptions to the New India Assurance car insurance can select from a figure of cashless garages to reach for their car best serviced.

Customers can chase or follow their track for claim situations online:

Customers can transmit their no-claim bonus from the insurance provider.

For any questioning, complaint redressal of grievance concerning theclaim, clients can contact the toll-free customer care service.

New India Assurance Car Insurance Add-On Covers

Yes, some of the add-on covers are:

  • GAP value cover

  • Consumptive cover

  • Devaluation cover

  • Traveler assist cover

Discounts offered by New India Assurance Car Insurance:

No-Claim Bonus:

The No Claim Bonus is that discount presented on the next year’s premium. If one makes no claims all around the year, they have profited with the enormous discount on the following year’s premium. If one does not construct a claim on the foremost year of the policy period,  they will be eligible for a discount of 20% on the bonus for that second year of their policy term, plus so on.

Voluntary discounts:

This discount is delivered if one decides to expand the minimum quantity of money at the moment of the claim. If one doesn’t drive any claims they still get this discount and even the minimum payment, they agreed to spend the time of claim.

Other Discounts:

New India Assurance Car Insurance presents other discounts in point if one :

Hold an Automobile Association membership Installed an Anti-theft device in their insured car

Claim process of New India Assurance Car Insurance:

Needed steps and supporting documents:

Claims In case of Car Accident

  • Immediately reach New India Assurance on their totally toll-free number which is 1800-209-1415

  • Shelter a claim with a properly signed Claim Form

  • Copy of proper Driving License, Policy document, RC book.

  • FIR, in any case, required (Kindly remark down, contact information of people and automobile number in an accident)

  • Actual Repair Estimate Bill

  • Bill receipt solely, in case of non-cash service

  • First real invoice and payout reception, if receipt mentions the estimation of repairs

Claims In case of Car Theft

  • Instantly contact the New India Assurance on their totally toll-free number is 1800-209-1415

  • Submit the claim with the properly signed claim form

  • Original Copy of Driving License, Policy document, RC book

  • FIR Police copy

  • Duly signatory Form 29, 28, 30 and also Form 35.

  • Final proof with “No Trace Report” of the certified vehicle from the police force

Claims In case of Third-Party

  • Immediately reach the New India Assurance on their free toll-free charge number 2. 1800-209-1415

  • Original Copy of Driving License, Policy document, RC book

  • FIR Police copy

New India Assurance Car Insurance Renewal Process (Online/Offline)

New India Assurance Co. Ltd. delivers car insurance plans for personal cars and commercial ones as well.

The insurer presents two types of covers:

Liability only policy

This plan presents coverage to the policyholder upon legal liability to a third base party in a collision. This includes third-party injuries or the death or even property damage.

The plan contains private accident cover for the proprietor-driver of the insured car. Nevertheless, it does not present an ambit for the insured automobile itself.

The policy is even cheaper than a complete package policy.

Package policy – This plan protects the policyholder from any kind of loss or injury mourned by the insured vehicle:

The owner or the driver of the automobile is also offered personal accident coverage.

Further, this policy presents protection from legal responsibility arising out of damages/death or injury to the possessions of a third party.

The packaging procedure can be augmented through the benefit of add-on covers, which can be bought individually from the insurance firm.

FAQs – New India Assurance Car Insurance Renewal

Q1. What kind of discounts do customers get when they renew their New India Assurance car insurance policy?

Ans: When a customer renews their New India Assurance car insurance policy, they can get their premium discounts varying from 20% to 50%, founded on the No Claim Bonus share accrued.

Q2. How is the IDV (i.e Insured Declared Value) determined at the time of renewal?

Ans: The liability-only policy presents unrestricted coverage for physical injury or demise of a third party. For harm to third-party property, this coverage limitation is Rs.7.5 lakh.

Q3. What are the payment limitations for a New India Assurance liability-only car insurance policy?

Ans: The liability-only policy presents unrestricted coverage for physical injury or demise of a third party. For harm to third-party property, this coverage limitation is Rs.7.5 lakh.

Q4. What is the sum insured beneath a package policy from New India Assurance?

Ans: The sum guaranteed under the motor insurance policy is equivalent to the Insured Declared Value (i,e IDV) of all the vehicles. This is basically the manufacturer’s sold price of the car’s or any vehicle’s model at the moment of policy outset and adjusted subsequently based on devaluation.

So if the automobile was totally injured in an accident or robbed, the insurer shall reimburse the policyholder the greatest amount equivalent to its IDV. This IDV of an automobile that is longer than 5 years old shall be founded on a mutual grasp between the insurance and the policyholder.