A car is one such gift that everyone is eager and proud to own. In India. It is a large milestone in a lot of people’s lives. Therefore, New India Assurance Motor Insurance ensures that you and your vehicle are safe and secure. It’s illegal to drive a without having car insurance. Without it, you can’t pay tax for your vehicle. The New India Assurance Car Insurance not only provides cover for you but also the third party members. Immediately After Buying the car, you should take accept a Car Insurance. Whether it is a Natural Disaster or somebody damages or steals your car, New India Assurance Car Insurance plan will take care of it all. With compulsory factors like Third Party liability, the policyholder can ensure that any damage done to another person’s property by your vehicle will be covered in a claim.
New India Assurance Car Insurance Benefits and Features
Each and Every policy will have its Features and Benefits. Before accepting a policy, the client should know them to harvest more profit. This helps the customer to select a plan which will meet their needs and expectations. So, Check the New India Assurance Car Insurance Key Features.
- The New India Car Insurance policy will cover the loss caused to policyholder due to the Car Damage.
- As per the Claim Experience of the customer, the New India company will provide the ‘No Claim Bonus’ and ‘Loading’.
- The client should pay an Extra premium for CNG unit, Electrical Fittings, Fibreglass Tank, LPG fuel tank, and Trailer attachment for the coverage.
- If the Assured is a member of the Automobile Association, then, The New India Assurance Company will provide an Additional Discount to them.
- The New India Assurance Company will provide the policyholder with a discount for installation of Anti-Theft Devices in their Car.
- It also provides a third-party liability coverage option for the customers.
- The Customers can not get any discounts on the Claims.
- New India Assurance company also pays for towing charges.
- The New India Assurance Car Insurance company will settle the claim bills directly to the garage. In the case of an authorised garage, you have to submit the bills.
New India Assurance Car Insurance Coverages
Any Insurance Company will give insurance to the damage only to some extent. No Company will cover the complete damage Charges. In the same way, The New India Assurance Company also offers Car Insurance reasonably. The New India Assurance Company provides two types of covers. They are
- Liability only policy: This is a plan which includes third party responsibility for body injury, demise and also damage to the property. The New India Assurance company provides Personal Accident cover for Owner and the driver also.
- Package policy: The Package policy also covers the loss or damage to the Car in addition to Driver or Owner.
1. Liability Only policy:
The Liability Only policy covers the vehicle owner’s legal liability and it pay the compensation for:
- Death or Physical injury to a third party person.
- Damage caused to the third party property.
The coverage amount is unlimited in case of zthe Unexpected event of Demise or Severe injury and damage to third party property for Rs.7.5 lakhs.
2. Package Policy:
The New India Assurance Car Insurance Package Policy covers the loss or damage of the insured vehicle and its accessories due to
- The Fire, explosion, Self-Ignition or lightning.
- Accident by any external means.
- Vicious Act.
- Damage caused by Rockslide/landslide
- The loss caused due to Earthquake.
- Flood, Cyclone, Hurricane, Storm, Typhoon, Tempest, Inundation, and Hailstorm.
- Any Damage caused by Terrorist Attack.
- While the car is in transit by road, inland waterway, lift, elevator or air.
- Burglary, housebreaking or theft.
- Riots and Strike.
New India Assurance Car Insurance Plan Exclusions
Along with the coverages and benefits, Every Insurance company will mention some exclusions under each policy. In the same way, the New India Car Insurance plan also has some exclusions. The New India Car Insurance Policy do not cover the following
- The company excludes claiming of Wear and tear, breakdowns
- Consequential loss
- Damages caused when driving with the invalid driving license or under the influence of alcohol.
- If the Loss occurred is due to the war
- Claims arising out of contractual liability.
- If the client crosses the ‘Limitations to use.’
Rate of the Depreciation in New India Assurance Company
- The rate of Depreciation for all rubber or nylon or plastic parts, tyre and tubes, batteries and air bags – 50% reduction
- For Fibreglass components the depreciation rate is 30% only
- The rate of reduction for All the parts that are made up of glass– NIL.
Rate of depreciation for all other parts including wooden parts will be as per the following table
|Age of Vehicle||% of decline|
|Not exceeds six months||NIL|
|Exceeds six months, but not exceedingoneyear||5%|
|Exceeds one year, but not exceeding two years||10%|
|Exceeds two years, but not exceeding three years||15%|
|Exceeding three years, but not exceeding four years||25%|
|Exceeds four years, but not exceeding five years||35%|
|Exceeding five years, but not exceeding ten years||40%|
|Exceeding ten years||50%|
Sum Insured Declared value (IDV) for New India Assurance Company
The Sum Insured Declared Value of the vehicle is fixed by the New India Assurance Company. It is based on manufacturer’s listed selling price of the brand and model of the car also.
Depreciation Value for fixing the IDV of the vehicle in New India Assurance Car Insurance
|Age of the Vehicle||% of discount for setting IDV|
|Not exceeding six months Age||5%|
|Exceeded six months but not one year||10%|
|Exceeding one year but not exceeding two years||15%|
|Exceeding two years but not exceeding three years||30%|
|Exceeding three years but not exceeding four years||40%|
|Exceeding four years but not exceeding five years||50%|
Steps for Renewal of New India Car Insurance Policy
New India Assurance Motor Insurance Online Renewal:
Every Policy will have an expiry at some point of time. After completing the policy tenure If the policyholder wants to continue it, they should renew their existing policy. The New India Assurance Company Limited is also offering Online Renewal services for its customers. So, the policyholder can renew their policy through online just by visiting the official website of New India Assurance Company @login.newindia.co.in.
New India Assurance company has started an Online Web portal, to enable its clients to buy new policies through online and also for renewing the existing policy. With this (New India Assurance) NIA Online Portal, you can also calculate your premium using Premium calculator.
Step Wise Process for Renewal of New India Assurance Policy:
The Policyholder should renew the existing policy of New India Car Insurance. Therefore, Check the steps for renewal of New India Car Policy provided below
- First of all, Register your plan in the New India Assurance Online Portal.
- Complete the registration process
- Click on your policy link and fill in the full details
- Now, visit the My Policy Home and find your plan there to renew it online.
- If your policy is due for renewal, then the Policy renewal link will appear in the enabled state.
- Click on the Renew Policy button.
- Check for the Pay premium through Online option and click there.
- If you have received the renewed quote number, then the policyholder can renew their policy through a Quick renewal process. It is available on the New India Assurance website Home Page.
How to Buy New India Assurance Motor Policy?
Whenever a new individual wants to bud a policy from New India Assurance Company, they can buy it in the following hassle free processes. They are
- The interested person can purchase a policy of their choice through online.
- Can visit a nearest New India Assurance Company Branch Office.
- Can contact an agent of the New India Insurance Company.
To Buy a New India Insurance by any means, the individual should submit some documents. The Documents are necessary as they serve as the proof. Following are the documents required for buying a policy
- Proposal Form and Photograph.
- Age proof of the General Insured.
- Nominee & General Assured Address Proof.
How to Claim for the New India Car Insurance Policy?
In case of accidental damage to the vehicle:
- The policyholder should intimate the same in the nearest New India Assurance Branch office. There you can get a Claim Form.
- Fill in the claim form and attach a copy of Registration Certificate and the driving license of the driver of the vehicle at the time of the accident. If possible, Give an estimate of some repairs also.
- The surveyor of the New India Assurance Company will check and analyse the full damage. They will report the same to the New India company. In the case of significant damage to the vehicle, the company will arrange a spot survey, at the site of the accident.
- The client should submit the Final bills and cash memos along with the signature of the policyholder.
- After the claim approval, the policyholder should deposit the Salvage of the damaged parts for the New India Assurance Company.
Claim Process In case of theft of the Insured vehicle:
If the client loses their car due to the robbery, then they should
- Inform to the police immediately and should file a FIR.
- Visit the nearest New India Policy Issuing Office and submit a copy of the FIR.
- Submit the Final Police Report in the New India Company as soon as you receive it.
- Extend your maximum cooperation to the surveyor and investigator appointed by the company.
- Therefore, 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 the Subrogation and Indemnity on stamp paper which is notarized.
In case of liability claim:
- Inform the New India Insurance company immediately after any incident likely to give rise to the claim of responsibility.
- On receipt of summons from Court, the same should be sent to the Insurance company as soon as possible.
- Claim the Form duly filled in along with photocopies of Registration Certificate, Diving License; Submit the FIR in nearest police Station.
New India Assurance Premium Calculator / Maturity Calculator
The Customers should calculate New India Car Insurance using the Premium Calculator. Therefore, By using New India Assurance Car Insurance Premium and Maturity calculator, compute the minimum premium amount that has to be paid to buy New India Assurance Car Insurance Plan. By using this, the policyholder can also compare your policy with all the other plans, and the customer can also select a scheme which suits their personal needs. The information provided below is required to calculate the premium
- Insured Declared Value.
- Geographical Zone.
- Cubic Capacity.
- Age of the Vehicle.
- Add on Covers.
Additional Coverages for New India Motor Insurance Policy
For Every Policy, The New India Assurance Company is providing Additional Coverages also. The Additional Coverages are provided here. Therefore, Before Accepting the plan just have a look at them.
- In addition to this, compulsory cover granted under Liability only policy, A restricted Cover is also available to include theft/fire.
- New India Car Insurance provides you with an additional Towing charges up to 300/- for scooters/motorcycles from the accident place to workshop.
- New India Assurance also Provides the customers with a higher towing charge by paying the extra premium.
- It also covers the loss caused due to damage of accessories that are installed in your vehicle.
- New India Assurance Company provides Legal liability to employees.
- It offers you with an additional discount on Anti-theft devices installed in your vehicle.
- New India Assurance company also provides a Personal Accident coverage facility to owner/driver of the vehicle.
Personal Accident Coverage:
The New India Assurance Company Will pay the Compensation for the bodily injuries or the unexpected demise of the owner or the driver of the vehicle. The Rate of Compensation under the personal accident coverage is provided here. Therefore, check the Percentage of Compensation given by the New India Assurance Company.
|Nature of the Event||Percentage of the Compensation|
|Demise of the individual or Client||100%|
|Loss of two limbs or loss sight of both eyes or one of the limbs and sight of any one eye||100%|
|Loss of one of the limbs or loss of one eye sight||50%|
|Permanent total disability from the injuries other than named above.||100%|