Insurance is like a spare tyre. You may not require it, but not having one is not an option.

New India Car Insurance

A car insurance policy financially protects you from paying for damages caused to your car. New India Assurance offers coverage for own damage and third-party damage. Towing charges from the place of accident to the garage will also be covered.
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New India Assurance Co Ltd, is a 100 % Government owned multinational general insurance company operating in 22 countries and headquartered at Mumbai, India. Founded by Sir Dorabji Tata in 1919. New India Assurance is the only direct insurer in India rated A-(Excellent – Stable outlook) by AM Best. New India Assurance’s Indian business touched Rs 10,000 crores (Rs 100 billion) in 2012-13.


New India Car Insurance Policy Highlights Updated on 25 Mar 2019

Features Specifications
Third Party Cover Upto 7.5 L
Incurred Claim Ratio* 79.68%
Net Earned Premium* 9074.26

*For Year 2017-2018

New India Car Insurance

Overview

New India Assurance Co. Ltd. is a government undertaking with domestic and international operations. This Indian general insurance provider, headquartered at Mumbai, has been a front-runner in the non-life assurance sphere for over 4 decades now. It is known for its robust financials allowing it to deliver on commitments to its growing customer-base. Its unmatched profitability is testament to its superior managerial abilities.

This insurer’s presence is felt all over India reaching a large and growing number of customers through its many distributors including offices, agents, micro offices, bancassurance partners, dealers, manufacturers, NGOs and tie-ups with corporates. Their products provide assurance solutions to clients in the business, retail, small and medium enterprise and social sectors.

Their international presence is felt in over 22 countries through a network of associates, subsidiaries, branches and agencies.

Motor Insurance in India

Third-party car insurance is a necessity mandated by law for every motorist with insurable interest in a car driven on Indian roads. While one can opt for a policy to cover only this legal aspect, it is always better to possess a comprehensive motor policy to cover all eventualities. It is more affordable than taking out two separate policies i.e. one to cover damages caused to others and one to cover own-damages.

New India Assurance - Package Motor Policy

Part of its personal insurance offerings, this motor policy was drawn up to bestow upon the holder the right to be recompensed in the event of any mishap involving the insured vehicle.

Scope

Private cars are covered under this contract for the following:

  • Own-damage:
    • Loss to the insured car (including accessories) caused by fire, lightning, larceny, public disruptions like riots, intentional damages caused by an external source/party, terrorism, environmental disasters (earthquakes, floods, landslides, cyclones, storms etc.), mishaps during transport by road, rail, waterways etc., accidents.
    • Expenses incurred on towing the car to the nearest service centre as per chosen rates or within a pre-determined limit of Rs.1,500.
  • Third-Party Liability:
    • All losses suffered by another party on account of the insured.
    • Amounts as awarded by the Court in relation to:
      1. Loss of life, property impairment, physical injury
      2. While bodily damages incur unlimited liability, property impairment is due to be compensated up to Rs.7,50,000.

Out of scope

The following are the exclusions or circumstances which do not entitle the policyholder to make claims:

  • Natural devaluation due to progression in age of the automobile
  • Breakdowns
  • Driving while under the influence of intoxicants like liquor and drugs
  • Driving without authority or without a valid driver’s license
  • Contractual obligations
  • War and related hazards
  • Usage beyond private purposes and limits
  • Usage beyond specified borders
  • Tyre-damages

New India Car Insurance Add-on Covers

New India motor insurance policyholders can take additional covers under their comprehensive plans by paying extra premium. As add-ons, customers can get cover for the following -

  • Damages or losses occurring on accessories available in the car, namely, fans, air-conditioners, stereos, etc.
  • Policyholders can get personal accident cover for paid drivers and passengers.
  • Cover for legal liability expenses to employees.
  • For commercial vehicles, coverage for legal liability expenses to non-fare paying passengers can also be availed.

Insured’s Declared Value (IDV)

This is the current market value of the car which is also the sum insured. Own-damage premiums are ascertained based on this. (Third-party premiums are as per tariffs set out under the Motor Vehicles Act, 1988).

The IDV is derived from the producer’s selling price of a car of the same specifications. From this value, the relevant amount of depreciation is deducted based on the age of the vehicle. These amounts are usually considered for Total Loss (TL) or Constructive Total Loss (CTL) of the automobile for a period up to 5 years. Beyond this period and for models that are no longer in production, the amount to be deducted as depreciation is based on an agreement between the insurer and the insured.

Premiums

Premiums are dependent on the sum assured.

In case of third-party covers, premiums are set as per the tariff given under the Motor Vehicles Act, 1988.

In case of own-damage covers, premiums are set as per the sum assured of the insured motor vehicle. There are discounts available on OD premiums.

Premiums also depend on:

  • Age of car
  • City where it is registered
  • Engine capacity (in cc)

Discounts

OD premiums qualify for discounts in the following cases:

  • No-Claim Bonus : This is offered upon renewal, after completion of a policy period wherein no claims were made. The bonus offered will range between 20% to 50% depending on the number of claim-free years preceding the renewal of the policy. Renewals should be done within 90 days of policy expiry.
  • Installation of anti-theft devices approved by the ARAI.
  • Membership with a recognised automobile association of India.
  • Classic or Vintage cars that are recognised as such by the Vintage and Classic Cars Club of India.
  • Laid-up vehicles
  • Use of the automobile within the premises of the insured

New India Car Insurance Claims Process

New India Car Insurance customers have to follow the below given steps to make claims under an existing policy. Policyholders have to adhere to different procedures depending on the type of claim filed.

Claims for Accidental Damages to the insured vehicle -

  • The policyholder has to inform the nearest New India Insurance branch office in case of accidental damages to his/her vehicle. The branch will then issue a claim form to the customer.
  • This claim form has to be filled and submitted with copies of the driving license of the person driving the car when the accident occurred and the registration certificate along with a repair estimate.
  • A Surveyor will inspect the damaged vehicle after which a report will be submitted by him to the insurer. If the vehicle damage is major, then the company might even arrange for a spot survey of the accident location.
  • The policyholder will have to submit cash memos and bills to the company.
  • Once the claim has been approved, the policyholder will have to submit salvage of the damaged parts to the insurer.

Claims for theft of the insured vehicle -

  • The policyholder has to lodge a First Information Report (FIR) with the police as soon as the incident occurs.
  • The office from where the policy was issued has to be updated by submitting a copy of the FIR.
  • The Final Police Report also has to be submitted later.
  • The claim will be approved once the surveyor’s investigation is completed. After this, the registration certificate has to be transferred in the insurer’s name and the keys for the vehicle have to be handed over. Duly notarized Indemnity on stamp paper and a letter of Subrogation has to be submitted by the policyholder.

Liability Claims

  • If a policyholder plans to make a liability claim, then the insurer should be informed about any occurrence that will lead to a liability claim.
  • Once the summons from the court has been received, the same should be sent to the insurance company.
  • Policyholders have to submit the filled-in claim form with copies of the driving license, registration certificate and the FIR.

Compulsory Deductibles

The proposer has to bear a certain amount of the claim.

In addition to the compulsory deductible, the proposer has to also bear the salvage value (within reasonable limits) and depreciation.

It is evident that this policy provides a number of attractive benefits that can not only meet a proposer’s Car Insurance needs adequately, but can also do so in a flexible, easy and transparent manner.

New India Assurance Customer Care

The toll-free number of the customer care department of New India Assurance is 1800 209 1415. You can get clarifications to your queries by dialing this number. You can also visit the insurance company’s official website and fill up an online form to request for a call back. Another method of getting in touch with the insurer is by walking in to any of its branch offices. You can get a list of the existing offices of the insurance company by selecting the ‘Locate Us’ menu option on the website. You can get the branch addresses by typing in the PIN Code or city. This way, you will also receive the email address corresponding to each branch for communication.

From the home page of the insurer’s website, you can select the option of ‘List of garages for cashless settlement’ and download the addresses of the network garages affiliated to the company. Customers can avail cashless claim settlement facility at these network garages.

FAQS for New India Car Insurance

  1. What are the documents required to register a claim with New India Car Insurance?

    Documents to be submitted at the time of registering a claim are :

    • Document such as claim intimation received by the insurer
    • Copy of policy and receipt of payment of premium
    • Completed claim form
    • A copy of the driving license
    • Certificate of registration of vehicle
    • Estimate of repairs and a stamped receipt from repairer
    • Bills of repairs that have already been done at approved garages.
    • Road tax verification
    • Police FIR
    • Fitness Certificate, etc.

  2. What does the Liability Only policy cover?

    This policy covers the vehicle owner's liability to pay compensation for fatal injury or harm to a third party individual as well as for damage of third party property. This cover does not apply to damage or injury to the car and it’s passengers.

  3. What is the coverage given by Motor Package policy from New India Car Insurance?

    This policy covers all the risks including loss or damage caused to the vehicle due to: accident, theft, fire, strikes, explosion, natural disasters such as earthquakes, floods, cyclones, etc., malicious acts including vandalism, terrorism, damage during of transit and also includes towing charges.

  4. What is the coverage provided under the Solatium Fund Scheme?

    This scheme was introduced by the Central Govt. in order to provide compensation for "Hit and Run" victims. The amount of compensation provided to the victim or his family in case of such motor accidents is Rs. 25,000/- in the event of death and Rs.12,500/- for grievous hurt.

  5. What is not covered under New India Car Insurance policy?

    The scenarios that are not covered under this policy are - damages caused due to intoxicated driving, driver not having a valid driving license, damage only to tyres, breakdown of the vehicle due to mechanical reasons, etc.

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Policy Coverage

Customer Service

Claim Experience

Cashless Garages

News About New India Car Insurance

  • Claim Car Insurance Now – New India Insurance

    Was your motor vehicle also completely inundated in the Chennai floods? Though it will be least of your worries in the current scenario, it would be a wise move to inform your insurance carrier or the authorized workshop, as any effort to kick-start or rev up your car can culminate in you losing your entire claim as per the All-inclusive Car Insurance Policy.

    The New India Assurance, a reputed insurance player in Chennai has already gotten 610 claim requests for vehicles alone. They keep reiterating that it would be easier if the owners with sunken or damaged cars due to the floods notify them immediately so as they can send an examiner to assess the extent of damage. As Mr. C Jegatheesan, the Regional Manager of the New India Insurance said, there are some unique cases in which the company might consider the claims that are not in compliance with the norms.

    22 Dec ember 2015

  • Two New Motor Insurance Products to be Launched by New India Assurance

    New India Assurance plans to launch four new products in the fiscal year 2016, two in the motor insurance segment and two in the health segment. Director G. Srinivasan added that the four new products have been filed with IRDA and are waiting to be approved. He said that the company would focus on retail, which is a big part of his business and expected a 15-16 percent industry growth in the current fiscal year.

    24 April 2015

  • New India Assurance and GIC Re Set to be Publically Traded Companies

    The Government of India has floated the idea of listing the shares of New India Assurance and General Insurance Corporation of India (GIC Re) for public trading from the next financial year. The Government’s agenda is to raise additional funds by diluting its stakes in the aforementioned public sector companies, a fact that was left open for interpretation in the meeting held as on January 30, 2015.

    24 February 2015

  • A.M Best announces new ratings for New India Assurance Company

    The New India Assurance Company Limited has been affirmed with A- (Excellent) rating for financial strength and a- rating for issuer credit by the global credit rating company, A.M Best. New India has a prominent position in India’s non-insurance market and the exceptional ratings speak volumes about its strong risk adjustment capitalization. New India has had an impeccable business profile, posting favorable results in the fiscal year 2013-2014 with stupendous growth. Despite the entry of competitors, New India also ranked second in terms of direct premiums in the motor insurance sector.

    17 January 2015

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

New India Car Insurance Reviews

Page 1 of 11 1 2 3 4 5
  • New India Car Insurance
    "Affordable premium for my car"
    0.5 5.0/5 "Blown Away!"
    I have taken the zero dep plan with NCB in New India . New india has provided correct IDV value for my Maurtui Ertiga car . It is a third party covere and Co-passengers also covered in my insurance . Cash less garage is alos available in my location .
    Was this review helpful? 0
    , new delhi
    Reviewed on Mar 23, 2019
  • New India Car Insurance
    "Better service"
    0.5 3.0/5 "Satisfactory"
    I have a car insurance with NEW INDIA ASSURANCE and my experience was very good. The premium was 15,000 rupees for seconded car insurance. The policy period is one year. I have not gone any claims. It covers bumper to bumper and road side assistance.
    Was this review helpful? 0
    , pune
    Reviewed on Mar 19, 2019
  • New India Car Insurance
    "Affordable premium for my car "
    0.5 5.0/5 "Blown Away!"
    For my Maruti Suzuki Swift Desire , I insured my Vehicle in New India . It is a third party cover . New India provided a correct IDV value and No claim bonus . It is Bumper to Bumper cover . I got a very good quotation with affordable premium in the market .
    Was this review helpful? 1
    , bangalore
    Reviewed on Mar 18, 2019
  • New India Car Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I took my car insurance in New India Assurance from 2014. I like the service and am getting no claim bonus. The customer service is excellent. I have gone for cashless garages and its good. The policy period is one year. I have paid the premium through cash. Its a third party insurance.
    Was this review helpful? 0
    , new delhi
    Reviewed on Mar 12, 2019
  • New India Car Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I took car insurance with New India Assurance for 1 year, a premium of Rs 5000 has to be paid for this insurance policy. There was no claim experience so far with this insurance. This policy has full coverage and the customer service is very good.
    Was this review helpful? 0
    , nasik
    Reviewed on Feb 11, 2019
  • New India Car Insurance
    "Very Good Service"
    0.5 4.0/5 "Great!"
    I had taken this insurance policy a long time back and the policy covers bumper to bumper. The premium amount has been fine and the payment method is also pretty simple. There has not been any claim experiences which i had so far and the policy has been good.
    Was this review helpful? 0
    , bangalore
    Reviewed on Feb 03, 2019
  • New India Car Insurance
    "Average car Insurance policy"
    0.5 4.0/5 "Great!"
    My car insurance was purchased from New India. Its a 17000 premium amount which i paid for 1 year. They are providing the road side assistance and they don't have cashless garages facility. They are providing the IDV value of Rs. 3.5 lakhs. I make the premium amount through cash to the agent.
    Was this review helpful? 1
    , mumbai
    Reviewed on Jan 29, 2019
  • New India Car Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    My car insurance was recently purchased with New India Assurance through online. When I logged into the online site it gives better option with multiple insurer and I felt New India Assurance is good with reasonable premium and better benefits. I have paid 13,500 rupees for a year. I got the insurance paper. The claim experience is very good.
    Was this review helpful? 2
    , hyderabad
    Reviewed on Jan 23, 2019
  • New India Car Insurance
    "Comprehensive benefit policy"
    0.5 5.0/5 "Blown Away!"
    My car insurance was taken from New India. I don't speak with their customer care since i don't require it. I had a claim experience which is a easy process without any tension. As per their policy, the maximum claim amount settled. Since they are providing good services i have opted this policy. They have given me a road side assistance and bumper to bumper facility.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 18, 2019
  • New India Car Insurance
    "Need to improve the service"
    0.5 3.0/5 "Satisfactory"
    I'm not satisfied with the service provided by new India. I have bought the car insurance policy. They closed their branch on every weekends hence its difficult to renew the policy. I have been paying the premium amount of Rs. 14000 which is a competitive price. They have given the IDV value of Rs. 1.50 lakhs.
    Was this review helpful? 0
    , mangalore
    Reviewed on Jan 09, 2019
  • New India Car Insurance
    "Average Car Insurance"
    0.5 3.0/5 "Satisfactory"
    My car insured with the New India Insurance company. I have been renewing the policy with the same company for 3 years. I have paid the premium amount of Rs. 7000 and they have offered me a satisfied coverage value. The documentation process was fine
    Was this review helpful? 0
    , mangalore
    Reviewed on Jan 09, 2019
  • New India Car Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I hold a car insurance with New India Assurance from last 5 years, i have not claimed anything so far with this insurance policy. This policy covers bumper to bumper as well as third party damage. I pay a insurance premium of Rs 6000 for this policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 29, 2018
  • New India Car Insurance
    "Good policy for car insurance"
    0.5 4.0/5 "Great!"
    Purchased my car insurance policy from New India and i have been renewing the policy for last 9 years with the same company. Since i know a person from new India and he will remind me for my car insurance policy for renewal. The premium amount was nominal and the coverage value which i'm satisfied with.
    Was this review helpful? 0
    , pune
    Reviewed on Dec 28, 2018
  • New India Car Insurance
    "Its Good"
    0.5 4.0/5 "Great!"
    I have Tata vistra credit card, they gave insured value around Rs. 6 lakhs, the premium amount is less. The bike policy has the tenure of one year , they got tie up with many server centers, my policy has the road side assistance. I have third party cover too.
    Was this review helpful? 1
    , pune
    Reviewed on Dec 18, 2018
  • New India Car Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    They are giving insurance an other competitive price. I have holding the policy 2 years and i used to renew with the same company because of the price. I have paid the premium amount of Rs. 4500. I'm satisfied with the coverage value. I have got a no claim experience. I have not claimed anything from this policy.
    Was this review helpful? 0
    , kolkata
    Reviewed on Dec 15, 2018
  • New India Car Insurance
    "Good Experience"
    0.5 5.0/5 "Blown Away!"
    In 10 years of experience I didn't face any claim. I have wagon R, the premium cost was economical, I paid around Rs. 5000 for one year, they gave me the comprehensive 100% protection plan, they got tie up with the dealer and they do have ncb features.
    Was this review helpful? 2
    , mumbai
    Reviewed on Dec 03, 2018
  • New India Car Insurance
    "Good service"
    0.5 5.0/5 "Blown Away!"
    I had taken this insurance policy almost three years back and i had been paying the premiums online in annual basis. The payment method with them has been convenient and there has not been any hassles. The insurance covers bumper to bumper as well.
    Was this review helpful? 0
    , bangalore
    Reviewed on Nov 27, 2018
  • New India Car Insurance
    "Premium should be economic"
    0.5 3.0/5 "Satisfactory"
    I found premium is very high with low coverage value. I have Wagon R car, I took comprehensive plan with 100% of coverage and with third party liability. Its gives protection for loss, damage, theft etc. But I suggest to should reduce to the cost as per the market.
    Was this review helpful? 1
    , ahmedabad
    Reviewed on Nov 26, 2018
  • New India Car Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    My Maruthi Swift car got the insured declared value of Rs. 5 lakhs with New India company. I have comprehensive plan with bumper to bumper it covers loss, damage, accidental cover with life cover for the driver for maximum of one lakh. If we pay Rs.50 rupees extra with the premium.
    Was this review helpful? 1
    , chennai
    Reviewed on Nov 12, 2018
  • New India Car Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I have my car insurance with national insurance and i have taken this policy for 1 year. A premium of Rs 16000-17000 has to be paid for this insurance policy. I have not claimed anything so far from this insurance policy and this policy has full coverage with 0% depreciation,.
    Was this review helpful? 0
    , jodhpur
    Reviewed on Oct 31, 2018
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