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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 21 Sep 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

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 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

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New India Car Insurance Reviews

Page 1 of 12 1 2 3 4 5
  • New India Car Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I got my car insurance with New India Assurance and company provided me a car and they are taking care of my policy. I am not facing any problems and they have taken third party insurance. Hoping the premium is affordable and the benefits are good.
    Was this review helpful? 0
    , vizianagaram
    Reviewed on Sep 05, 2019
  • New India
    New India Car Insurance
    "Superb"
    0.5 5.0/5 "Blown Away!"
    I took a car insurance with New India Assurance and am advisor as well. The premium is low than other insurance companies. They have charged me 18K for a year and its first party insurance with full cover. They are doing good service and even done a claim. I got 80% on the reimbursement.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Sep 03, 2019
  • New India Car Insurance
    "Its Good"
    0.5 3.0/5 "Satisfactory"
    I have New India insurance for my car, the premium amount is reasonable, I took the plan for one year. I have zero depreciation bumper to bumper plan and the agents are professional, the car idv value is good as per the manufacturing year. The renewal process also pretty easier with them.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Jul 29, 2019
  • New India Car Insurance
    "Good in claim settlement"
    0.5 5.0/5 "Blown Away!"
    Last year I met with an accident, they done it very well. My car front bumper and radiator was damaged, I got the cash less garages the just taken one week of time to reflect the issue. I paid the premium of 11,000 for zero depreciation plan its fully covered.
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Jul 19, 2019
  • New India Car Insurance
    "Needs improvement on the claim process"
    0.5 4.0/5 "Great!"
    I had chosen New India Assurance for my car insurance because I know a employee so I get some waiver off on the premium. I had claims on my previous car and the experience was not good. They need to improve on the benefits because I need to pay first for the cliam process then they send a cheque after 1 or 1.5 months that too after analyzing. I get 80% and sometimes 85% of the claim.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Jul 19, 2019
  • New India Car Insurance
    "Good Experience"
    0.5 5.0/5 "Blown Away!"
    I purchased zero depreciation car insurance with New India Assurance, the cost is reasonable. Last year I paid the premium of Rs. 14,000 for one year policy its for four years old car. They got tie up with many service centers, the service is good I can reach at any time.
    Was this review helpful? 1
    , mumbai
    Reviewed on Jul 18, 2019
  • New India Car Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have bee using the car insurance policy with NEW INDIA ASSURANCE where the customer support is prompt by giving the information regrading the policy expiry date. I had no claim also the IDV value is good provided with the insurance policy.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jul 10, 2019
  • New India Car Insurance
    "Need to improve the service"
    0.5 4.0/5 "Great!"
    Taken my car insurance from New India. My dealer has given the policy with them and I'm continuing with the same company. I pay the premium amount of Rs. 16000 for the coverage amount of Rs. 7.50 lakhs. I haven't got my no claim bonus. When i informed about the same, they were not ready to provide proper response.
    Was this review helpful? 1
    , kochi
    Reviewed on Jul 06, 2019
  • New India Car Insurance
    "Need to experience the policy"
    0.5 5.0/5 "Blown Away!"
    New India insurance has a tie up with Maruti since i have a Martui Swift i have chosen them. I pay the premium amount of Rs. 11000 approximately. I get a coverage value of Rs. 5.86 lakhs. I do not have any claim experience so far from the purchasing date.
    Was this review helpful? 1
    , jaipur
    Reviewed on Jul 03, 2019
  • New India Car Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have been using with the NEW INDIA ASSURANCE where i had claim once with the policy and i had a claim experience and i got reimbursement of 50%. The policy coverage is for bumper to bumper. I have paid the premium was 7K and the IDV value is 80% provided.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Jul 01, 2019
  • New India Car Insurance
    "Faster Claim settlement"
    0.5 5.0/5 "Blown Away!"
    Maruthi brokerage is linked with New India hence I took car insurance. Some body have scratched my car hence I went for zero depreciation plan within two days they rectified my issue and return the vehicle. I paid some additional charges for availing zero dep.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jun 28, 2019
  • New India Car Insurance
    "Recommendable policy"
    0.5 5.0/5 "Blown Away!"
    I paid to New India Assurance around Rs.4000 for car policy because my car policy belongs to 10 years old. They do have road side assistance, 24 hours service and I availed third party insurance. The insured value is good, the renewal process was easy through online and offline, I get the policy copy through email.
    Was this review helpful? 0
    , chandigarh
    Reviewed on Jun 21, 2019
  • New India Car Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I had 2 times claim with the NEW INDIA ASSURANCE where the customer support is good and i got the claim on time also the process was 1uick. The premium was nominal also the IDV value is good. The coverage is for zero depreciation with this insurance policy.
    Was this review helpful? 0
    , ghaziabad
    Reviewed on May 20, 2019
  • New India Car Insurance
    "Good Insurer"
    0.5 5.0/5 "Blown Away!"
    I have car insurance with New india assurance, they have cash less garages but I don't have any claim. I got the policy paper on time, last time I paid the premium amount of Rs. 7000 for first party insurance. They do have road side assistance and 24 hours service.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 23, 2019
  • New India Car Insurance
    "Good claim settlement"
    0.5 5.0/5 "Blown Away!"
    For my Mahindra tractor, one time I claimed with New India Assurance for the small damage. In my experience they are good they settled my reimbursed on time. The customer support is great, they settled 80% from the bill amount. I am very fine with them.
    Was this review helpful? 0
    , kadapa
    Reviewed on Apr 20, 2019
  • New India Car Insurance
    "Very Few branches across the city"
    0.5 4.0/5 "Great!"
    New India office branches will be located at very distance . It is not easy to go their office even for a small claim . They do have very less number of people for inspections . Actually , I went for only small claim , During that time everything was taken care by the car vendor itself.
    Was this review helpful? 0
    , kochi
    Reviewed on Apr 09, 2019
  • New India Car Insurance
    "Quick Claim process"
    0.5 5.0/5 "Blown Away!"
    At the time of car purchase, the dealer have suggested New India Assurance, they have easy option to renew the policy. I claimed it once, when I met with the accident the car got damage in front part then within 10 days I got the cash less garages.
    Was this review helpful? 0
    , bangalore
    Reviewed on Apr 09, 2019
  • New India Car Insurance
    "Good Policy for car"
    0.5 4.0/5 "Great!"
    I have Fiat punto it was manufactured before three years, I got nice insured value around Rs 4.5 lakhs for one year. The premium amount is really economical, they have connected with many garages. I have total experience with New India car policy around three years, they are providing no claim bonus too.
    Was this review helpful? 1
    , chennai
    Reviewed on Apr 01, 2019
  • New India Car Insurance
    "Good Policy"
    0.5 3.0/5 "Satisfactory"
    I had taken this insurance policy a very long time back and the premium had been paying on an annual basis. There has not been any claims made so far and the premium amount with them has also been good. The insurance covers bumper to bumper as well.
    Was this review helpful? 0
    , pune
    Reviewed on Mar 29, 2019
  • 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? 1
    , new delhi
    Reviewed on Mar 23, 2019
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