New India Assurance Motor Insurance Plans (Which are the Best?)

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

• Private Car Insurance
• Commercial Vehicle Insurance
• PAYD Motor Insurance
• Two Wheeler Insurance
• Fleet Insurance
• Standalone CPA cover

Let us now talk about these motor insurance policies in detail.

1.) Private Car Insurance

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.

Types of Private Car Insurance Offered

• The company offers two types of private car insurance, they are liability only policy and package policy. A liability only policy will only extend coverage towards damage caused to a third-party, and owner-driver.
• A package policy will cover third-party liability, owner-damage, as well as damage to the insured vehicle. It is a comprehensive motor insurance policy.

General Inclusions and Exclusions

A Liability only Policy

• Inclusions: Personal accident cover for owner-driver, damages caused to third-party
• Exclusions: Damage to own car, damage to passengers

Package Policy

• Inclusions: Personal accident cover for owner-driver, damages caused to third-party, damage to car, fire, theft, malicious act, terrorist acts, lightning, landslide, earthquake, riots, and more.
• Exclusions: Consequential loss, regular wear and tear, civil war, driving without a license, driving under the influence of alcohol, and more.

2.) Commercial Vehicle Insurance

A commercial vehicle insurance plan is a motor insurance plan for commercial vehicles. New India Assurance provides two commercial motor insurance polices.

Types of Commercial Car Insurance

• New India Assurance Motor Insurance offers two types of commercial car insurance, they are liability only policy and package policy. Similar to their private motor insurance policy, a liability only commercial policy will only extend coverage towards damage caused to a third-party.
• A package commercial policy will cover will cover third-party liability, owner-damage, as well as damage to the insured vehicle. It is a comprehensive motor insurance policy.

General inclusions and exclusions include

Liability only Commercial Policy

• Inclusions: Damages caused to third-party
• Exclusions: Damage to own car, damage to passengers

Package Commercial Policy

• Inclusions: Damages caused to third-party, owner-damage, damage caused to insured vehicle, fire, theft, vandalism, terror acts, lightning, landslide, earthquake, riots, and more.
• Exclusions: Regular wear and tear, driving without a license, consequential loss, driving under the influence of alcohol, civil war and more.

3.) PAYD Motor Insurance

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.

Types of PAYD Car Insurance Offered

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.

4.) Two Wheeler Insurance

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.)

General Inclusions and Exclusions

Liability only Package

• Inclusions: Damage to third-party, owner-damage
• Exclusions: Damage to passengers, damage to self-vehicle

Package Policy

• Inclusions: Damage to third-party, owner-damage, damage to insured vehicle, fire, floods, acts of terror, earthquake, theft, and more.
• Exclusions: Consequential loss, regular wear and tear, war (including civil war), damages caused due to being under the influence of alcohol.

5.) Fleet Insurance

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.

6.) Standalone CPA cover

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/-.