New India Assurance Co. Ltd. offers car insurance plans for private cars and commercial vehicles. The insurer offers two types of covers:
Liability-only policy - This plan offers coverage to the policyholder from legal liability to a third party in an accident. This covers third-party injuries/death and property damage.
- The plan includes personal accident cover for the owner-driver of the insured vehicle. However, it does not offer coverage for the insured car itself.
- The policy is also cheaper than a comprehensive package policy.
Package policy - This plan protects the policyholder from loss or damage suffered by the insured vehicle.
- The owner-driver of the car is also offered personal accident cover.
- Additionally, this policy offers protection from legal liability arising out of injuries/death or damage to property of a third party.
- The package policy can be enhanced through the use of add-on covers that can be purchased separately from the insurance company.
New India Assurance Car Insurance Premium Calculator
The website of New India Assurance offers you the facility to calculate the premium for your car insurance, free of additional charges. For this you will have to visit the insurer’s website and go to the motor insurance page.
- In the car insurance premium calculator tool, update the make and model of your car, the city of purchase/registration, date of purchase/registration, Insured Declared Value of the car, your mobile number, and email address.
- Once you agree to the terms and conditions you will receive a quote on your car insurance.
- This quote will be sent to your mobile number in the form of an SMS.
In case you have any queries regarding the use of the tool, you can initiate an online chat with a representative of the insurance company through the website or contact the New India Assurance customer care team on their toll-free number.
New India Assurance Car Insurance Renewal Procedure
It is possible to renew your New India Assurance car insurance policy online in a hassle-free manner. This can be done instantly at the insurance company’s website by entering a few mandatory details.
New India Assurance offers its policyholders two options to renew their existing policies:
- By logging in to the insurer’s website - Users can create an account at the insurer’s website and login to this account. They can then use the option for car insurance renewal and update the requisite details. After submitting the form, the renewal of the car insurance policy will be completed.
Through the ‘Quick Renewal’ option - Another method available on the website is the ‘Quick Renewal’ process, wherein a customer needs to enter only some basic details. This is a more convenient method of policy renewal as the customer is not required to login to the website and complete other time-consuming formalities.
- In order to renew your motor insurance policy using the ‘Quick Renewal’ method, you will first have to get a quote for your car insurance online. You can use the New India Assurance car insurance premium calculator tool available at the insurer’s website for the same.
- The next step is to access the ‘Quick Renewal’ link and update your customer ID and policy number/renewal quote number in an online form. Once this is done, you can view your details and save the quote to proceed with the renewal. Note that the customer ID is the one mentioned in your policy documentation. It is not your login ID to the website.
- Payment can be done using credit card, debit card, or through netbanking. When the payment is successfully completed, the policy will be renewed.
If you have any queries regarding the renewal process, you can send an email to the New India Assurance customer care team for clarifications. It should be noted that the premium will be inclusive of GST. In case you are eligible for GST exemption, you should walk in to the nearest branch office of the insurance company with the relevant documentation. You can proceed with the car insurance renewal at the branch office.
FAQs for New India Assurance Car Insurance Renewal
- What type of discounts does a customer get when he renews his New India Assurance car insurance policy?
- How is the IDV (Insured Declared Value) decided at the time of renewal?
- What are the payout limits for a New India Assurance liability-only car insurance policy?
- I am planning to renew my New India Assurance car insurance policy. In the future, if my car meets with an accident, will I be reimbursed the towing charges incurred for transferring the car to a garage?
- I am planning to renew my third-party liability car insurance plan from New India Assurance. I would like to get coverage for theft of my car as well. Do I necessarily have to take the package policy for this?
- What is the sum insured under a package policy from New India Assurance?
When a customer renews his New India Assurance car insurance policy, he can get premium discounts ranging from 20% to 50%, based on the No Claim Bonus amount accrued.
At the time of renewal, the IDV (Insured Declared Value) is fixed based on the selling price set by the manufacturer of the insured vehicle.
The liability-only policy offers unlimited coverage for bodily injury or death of a third party. For damage to third-party property, the coverage limit is Rs.7.5 lakh.
Yes, the policy pays for towing the vehicle from the accident spot to a garage. The maximum limit for the same is Rs.1,500. You can opt for higher towing charges by paying extra premium.
New India Assurance offers a restricted third-party liability cover that protects your vehicle from theft or fire, in addition to providing the traditional coverage under the liability-only plan. But you should note that this coverage is not available for vehicles that are rated under Class D, tariff for miscellaneous, and certain special cars.
The sum insured under the motor insurance policy from New India Assurance is equal to the Insured Declared Value (IDV) of the vehicle. This is essentially the manufacturer’s selling price of the model at the time of policy inception and adjusted thereafter based on depreciation.
So if the car was totally damaged in an accident or stolen, the insurer will pay the policyholder a maximum amount equal to its IDV. The IDV of a car that is more than 5 years old will be based on a mutual understanding between the insurer and the policyholder.
GST Update: GST of 18% is applicable on car insurance effective from the 1st of July, 2017