National Auto Insurance

National Auto Insurance provides complete protection for four wheelers and two wheelers with the inclusion of property and third party liability coverage. National Insurance mandates that the vehicle insured must be registered to the owner or the policyholder to ensure that he enjoys maximum benefits from the auto insurance policy. A National Auto Insurance policy is generally an annual policy, but the company also provides exceptions like long term two wheeler policies which are valid until the vehicle’s condition is maintained as per RTA standards. Customers have the flexibility to purchase or renew their National by using their credit or debit cards.

Key features of National Auto Insurance

  • A National Auto Insurance policy can be taken for four wheelers bought for any kind of use excluding carriage of goods, hiring, racing, speed testing and motor trade activities.
  • Customers can also avail additional coverage for loss of accessories, legal liability paid to drivers, accidents to passengers along with increased legal liability to third party property damage up to an amount of Rs 7.5 lakhs.
  • The National Auto Insurance policy also includes the no-claim bonus feature and customers can get discounts if they opt for a higher voluntary excess.
  • Policy holders can also renew their existing auto insurance policies from other insurers on the National Insurance web portal and enjoy full benefits of the No-claim bonus earned previously.
  • National Auto Insurance also provides discounts for installation of anti-theft devices in vehicles and concessions for modified vehicles serving physically and mentally handicapped persons.
  • Customers can easily make a claim settlement by registering with National Insurance and submitting the required documents and information to the insurer.

National Auto Insurance policy coverage

The National Auto Insurance policy includes two types of coverage for a policy holder.

Liability Only Cover - This cover insures a customer against any legal liability arising due to injury or death of third party during an accident involving the customer’s vehicle. Though the policy does not cover any vehicle specific damages, it does include protection for third party property damage up to an amount of Rs 7.5 lakhs.

Package Cover - This cover insures all liabilities, including third party coverage and damages or loss of own vehicle. The coverage under ‘Own damage’ extends to damages incurred due to accidents, fire, explosions, transit, theft, riots or natural calamities.

Exclusions under the National Auto Insurance policy

The National Auto Insurance policy does not include the following conditions under its coverage umbrella.

  • Consequential loss
  • General wear and tear of the vehicle
  • Electrical or Mechanical breakdowns
  • Vehicle failures or breakages
  • Tyre damages are not covered unless the vehicle is also damaged at the same time and the liability of the insurer is limited to 50% of the replacement cost.
  • Any damage or loss suffered due to accidents happening with the insured driving under the influence of alcohol or without a valid driving license.
  • The company compensates the cost of a part of the vehicle that failed and eventually lead to the accident to occur.

GST Update: GST of 18% is applicable on car insurance effective from the 1st of July, 2017

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