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New India Assurance Motor Insurance provides a host of motor insurance policies that provide different levels of coverage and different use cases. New India Assurance motor insurance provides coverage for private vehicles, commercial vehicles, fleets of vehicles, two-wheelers, and more.
They have also recently come up with a brand new plan called New India Assurance PAYD policy.
You can learn about all of the policies below
Let us now talk about these motor insurance policies in detail.
New India Assurance offers private car insurance to anyone looking to buy a motor insurance policy in India. As you may be aware, it is compulsory for a driver to have at least a valid third-party motor insurance policy before he ventures on the road.
A commercial vehicle insurance plan is a motor insurance plan for commercial vehicles. New India Assurance provides two commercial motor insurance polices.
This is a newly released policy by United India Assurance, it is called Pay as Your Drive (PAYD.) Under this policy, policyholders are eligible to receive discounts based on the amount of kilometres the insured vehicle runs.
The policyholder is eligible to receive discounts on renewal premiums if they drive their vehicle less than the specified kilometres mentioned under the policy bond. The PYAD plan comes in two variants, basic cover and gold cover.
The PAYD car insurance is available in three types, they are comprehensive motor insurance cover, third-party motor insurance cover, and bundled cover.
You can read about the inclusions and exclusions of the PAYD plan.
The New India Assurance two wheeler insurance plan includes insurance policies for both bikes as well as scooters in India.
Types of Two Wheeler Insurance Offered: Policy types offered are liability only package and the package policy (comprehensive plan.)
People who are in the business of transport and hospitality can avail of New India Assurance’s fleet insurance plan to insure their entire fleet of vehicles, ensuring stability of their transport business.
New India Assurance also provides a separate stand alone compulsory accident cover (CPA.) Under Indian motor laws, it is mandatory for every driver to take CPA cover if they already do not have an accident insurance policy of at least 15,00,000/-.
This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.