New India Assurance Motor Insurance (Plans, Benefits & More)

Are you looking for a reliable motor insurance policy? New India Assurance is a renowned name in the insurance sector, offering a plethora of motor insurance policies that safeguard millions of individuals during unfortunate events like accidents. From offering 24/7 customer support to quick claim settlement, discover how New India Assurance Motor Insurance could be your one-stop solution for all motor insurance-related needs.

In this article, we will talk about the following:

• About New India Assurance
• New India Assurance Motor Insurance Plans
• Benefits of New India Assurance Motor Insurance Plans
• How to file claim with New India Assurance Motor Insurance?
• How to renew New India Assurance Motor Insurance Plans?
• How to renew New India Assurance Motor Insurance?

About New India Assurance

New India Assurance is a government-owned insurance company founded by Sir Dorabji Tata in 1919 and nationalised in 1973. New India Assurance is headquartered in Mumbai. The company has six large corporate offices, 447 divisional offices, 31 regional offices, and more than 2500 official branches across India.

New India Assurance is a prominent insurance company that offers comprehensive motor insurance policies to its customers. The company provides motor insurance for privately and commercially owned vehicles, two-wheelers, and so on. Motor insurance plans by New India Assurance are designed to offer financial protection to vehicle owners in case of any accident or damage caused to the insured car.

As per the annual report of IRDA, the claim settlement ratio of New India Assurance in FY 2021–2022 was 92.93%. In addition to its high claim settlement ratio, the insurer also offers a wide network of 3000+ cashless garages across the country. This helps policyholders get their vehicles repaired quickly and conveniently without having to worry about arranging for cash or reimbursement.

New India Assurance Motor Insurance Plans

Below are the plans offered by the company:

1.) Private Car Insurance

As the name suggests, this policy covers all privately owned vehicles. The plan offers two types of coverage:

• Liability Only Policy: This policy offers coverage for any third-party liability for bodily harm or damage caused to the vehicle due to accidents.
• Package Policy: Under this cover, in addition to the benefit of the Liability Only cover, it also offers Own Damage Insurance.

2.) Standalone Compulsory Personal Accident Cover

This motor insurance policy financially compensates the policyholder or the beneficiaries of the policy in case of accidental death or disability caused while driving the insured vehicle. The sum insured under this policy is ₹ 15,00,000 and the policy tenure is one year.

3.) Pay As You Drive Policy

This comprehensive motor insurance policy is designed to charge the premium based on the usage of the vehicle. The vehicle owner will be requested to declare the odometer reading of their vehicle.

The policyholder can select the coverage based on the estimated number of kilometers they expect to drive the vehicle during the policy tenure.

The slabs of kilometers available for selection are as follows: Upto 4,000 kms, Up to 6,000 kms, Up to 8,000 kms, Up to 10,000 kms.

4.) Commercial Vehicle Insurance

This policy is designed to offer financial protection to individuals who use vehicles for commercial purposes. Under commercial vehicle insurance, two types of coverage are available: Liability Only Policy and Package Policy.

5.) Two-Wheeler Insurance

This policy offers coverage for two-wheeler vehicles like motorcycles, bikes, and scooters. The policy provides two types of coverage: Third-Party Liability and Comprehensive coverage.

This policy offers unlimited coverage for third-party liability in case of death or injury due to an accident for commercially owned vehicles.

6.) Standalone Own Damage for Private Car

This policy offers coverage for any damage caused to the insured private vehicle in the event of an accidents. Since it is a standalone personal damage insurance policy, it does not offer any coverage for third-party liability.

Benefits of New India Assurance Motor Insurance

Below are the benefits offered under the company’s policies:

• Extensive Coverage: Motor insurance plans offered by the company provide comprehensive coverage that provide financial compensation in case of an accident, theft, or damage to the insured vehicle.
• Third-party Liability Coverage: The policy provides third-party liability coverage thats covers the financial liability of the insured vehicle for any damage or injury caused to a third party.
• Network Garages: The company has a wide network of more than 3000 cashless garages across the country.
• 24/7 Customer Support: The company provides 24/7 customer support, assisting in the quick resolution of any queries or grievances of its customers.
• No Claim Bonus: Policyholders can get the benefit of a cumulative bonus that increases their coverage for every claim free year, depending on the policy terms.

How to file claim with New India Assurance Motor Insurance?

Follow these simple steps to file a claim with the company:

• Step 1: Inform the insurance company immediately in case of an accident.
• Step 2: Submit the pre-authorization claim form along with relevant documents to the company, depending on the nature of the claim. The claim form will be available at the nearest branch of New India Assurance.
• Step 3: The insurer will process the claim and assess the damage to the vehicle. In case of any major damage, the policyholder may need to take the vehicle to a network garage for repairs.
• Step 4: Once the repairs are complete. Submit all the original bills, receipts, etc. to the company.
• Step 5: The insurer will verify the bills and reimburse the claim amount.

Documents Required

• Duly filled and signed claim form
• Registration certificate
• Driving licence
• FIR (if applicable)
• Original repair bills, receipts, etc.
• Original policy documents
• Road tax certificate

How to renew New India Assurance Motor Insurance?

Follow these simple steps to renew your motor insurance policy in a matter of minutes:

• Step 1: Go to the official website of the company or click on this link to visit the portal directly, i.e, https://www.newindia.co.in/portal/quickRenewPost/renewal.
• Step 2: Enter your customer ID and policy number. Then click on “Proceed.”
• Step 3: Check all the details pertaining to your policy and make the payment online.
• Step 4: You can also make the payment by visiting the nearest branch of the insurer.