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  • The New India Assurance Two Wheeler Insurance

    New India Assurance Two Wheeler Insurance
     4.5 / 5.0   by 123 users
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    Plan Benefits

    Policy Coverage

    Customer Service

    Claim Experience

    For many of us, our two-wheeler is a vital part of our life. It is our object of admiration, source of pride and a symbol of monetary achievement. Isn’t it upon us to protect our most cherished possessions? To keep your two-wheeler safe and secured, you must invest in a two-wheeler insurance policy. Not only is it mandatory in India, but it also offers financial liability to help you cover the costs of any damage.

    The New India Assurance Two-wheeler insurance policy is a comprehensive scheme that is provided under the motor policy umbrella. With countless benefits like No-Claim Bonus (NCB) ranging up to 50%, cover against all major risks and a hassle free claims policy, The New India Assurance’s two-wheeler insurance will guarantee that you are secured when unpredictable events occur.

    Features and Benefits of the New India Assurance Bike Insurance

    • This policy comes under the “Motor Policy” umbrella and offers coverage for all types of vehicles including private cars, commercial vehicles and vehicles in garages and showrooms.
    • The covers are categorized into liability only and package policy which makes it even more extensive.
    • No-Claim discounts are offered upon policy renewal and ranges from 20% to 50% which will help the policyholder save on the premium amount.
    • The New India Assurance also offers add-on covers on payment of extra premium.
    • Policyholders are guaranteed a hassle-free claims process. Also, they can renew the policy online.

    New India Assurance 2 Wheeler Insurance Coverage

    The New India Insurance Motor Policy offers two major categories of covers – Liability only and package policy. Here is the list of risks included under each type.

    Package Policy

    This type covers the damage or loss to the vehicle or its accessories caused by the following risks:

    • Fire, self-ignition, explosion
    • Lightning
    • Strike and Riot
    • Burglary, theft or housebreaking
    • Malicious and terrorist acts
    • Damages caused by earthquake (fire and shock)
    • Rockslide, landslide
    • Damages caused while in transit by inland waterway, air, road, elevator or lift
    • Calamities including typhoon, flood, storm, tempest, hailstorm, cyclone and inundation
    • Accidental external means

    Liability Only Policy

    Under this policy, cover is offered for the owner’s legal liability to monetarily compensate for the following:

    • Death or bodily injury caused to a third-party
    • Damage caused to a third party property

    New India Assurance Two Wheeler Insurance Exclusions

    The following risks are not covered under the two-wheeler insurance policy offered by New India Assurance:

    • Damage caused by breakdowns, wear & tear
    • Loss or damage caused when driving under the influence of alcohol or with no or invalid driving license.
    • Loss caused by civil war or war
    • Claims arising out of contractual liability
    • Use of vehicle which is not accordance with “limitations as to use”, for e.g, using a private car as taxi will not be considered.

    No-Claim Bonus

    Depending on the type of vehicle and the number of years for which no claim has been made by the insured, No-Claim discounts are offered on policy renewal. NCB ranges from 20% to 50%.

    Add-On Covers

    The following are the additional covers offered by the New India Assurance and the policy can be extended to cover these additional risks on payment of extra premium.

    • Damage or loss caused to accessories in vehicle like stereos, fan etc.
    • Legal liability to employees
    • Legal liability to non-fare paying passengers travelling in commercial vehicles

    How to file a Claim with the New India Assurance

    • If the vehicle is stolen 

      In case your vehicle is stolen, you must immediately file an F.I.R with the police. Also, you must inform the policy issuing office and provide a copy of F.I.R for insurer’s reference. You will be required to submit the final police report. An investigator and a surveyor will be appointed by the company to assess the loss. After claim approval, you must hand over the vehicle keys, get the registration certificate transferred to the company’s name and submit a letter of subrogation and indemnity on a duly notarized stamp paper.

    • For a Liability Claim

      The insurance company must be informed of any incident that might give rise to a liability claim. On receipt of the court summon, the same should be sent to insurer. FIR, driving license and the claim form along with copies of registration certificate must be submitted.

    • In case of Accidental Damage to the Vehicle

      Get a claim form which will be provided upon intimation to the nearest office. After submission of claim form along with driving license, estimate of repairs and a copy of registration certificate, the vehicle will be surveyed by an appointed surveyor. A spot survey will also be arranged in case of major damage. Duly signed final cash bills are to be submitted by the insured. After claim approval, salvage of the damaged parts might be required to be deposited with the insurer.

    Documents Required for Filing a Claim

    Depending on the type of claim, the policyholder will require the documents like:

    • First Information Report
    • Vehicle’s Registration Certificate
    • Driving license of the driver
    • Bills and estimates of damage

    Do enquire with the nearest NIA office for a comprehensive list of documents required.

    New India Assurance bike insurance

    1. What is the eligibility criteria for obtaining a two-wheeler insurance with NIA?

      Any vehicle owner, who has his/her vehicle registered with the Regional Transport Authority (RTA) of India can apply for a two-wheeler insurance with the New India Assurance.

    2. What are the rating factors for a vehicle?

      The rating is given based on the Insured Declared Value, Cubic Capacity. Geographical zone,. Vehicle’s age, add-on covers and GVW for commercial vehicles.

    3. Explain the meaning of IDV.

      IDV or the Insured Declared Value is the sum insured for a vehicle. The claim amount is decided based on the IDV.

    4. Does this policy cover charges incurred from the place of accident to the workshop?

      Yes. The maximum limit of this towing charge is Rs.300 for two-wheelers. Also, by paying extra premium, higher towing charges can be opted for.

    5. How is the IDV of my vehicle calculated?

      The IDV is computed based on the manufacturer’s listed selling price for that particular brand and model of vehicle. For vehicles over 5 years and for obsolete models, the IDV is essentially an understanding between the insured and the insurer.

    News About The New India Assurance Two Wheeler Insurance

    • New India Introduces Long-term Two Wheeler Insurance Policy

      Clients can go for two or three-year auto insurance policy terms as per the newest product launched by New India. Offering a zero-depreciation protection if you pay an extra premium, this is the first long-term all-inclusive policy for bikes and two-wheelers in India.

      Insurance Regulatory and Development Authority of India (IRDAI) has permitted insurance providers to design this policy for up to three years. G Srinivasan (Chairman and MD of New India Assurance) has said that the company has made INR 16,000 crore from premiums alone.

      The firm had previously presented another long-term motor third party insurance. Srinivasan is confident that in time, the policy term will be prolonged to five years. Plans to introduce long-term insurance policies for individual cars are in the pipeline, waiting for approval from IRDAI.

      5th August 2015

    New India Assurance Two Wheeler Insurance Reviews

  • Page 1 of 7 1 2 3 4 5
    • review Two Wheeler Insurance
      "Good "
      0.5 3.0/5 "Satisfactory"
      I am having two wheeler insurance policy with the New India assurance company and am paying around 1600 Rupees per annum , also I am with them from the last two years of time. Coverage values are fine one with them and its the diminishing one like it decrease up to some extent.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 10, 2017
    • review Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I am using New India Assurance for my 2 wheeler insurance policy. I am using this company for about past 2 years. I paid Rs. 1300 to renew my Hero Honda passion pro motor bike. They don't send any intimation about the renewal date, they have to improve their policy by sending the renewal alerts to the customers. The plan benefits are really good with this policy.
      Was this review helpful? 0
      , shimoga
      Reviewed on May 09, 2017
    • review Two Wheeler Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having two wheeler insurance policy with the New India Insurance company and the The whole vehicle is insured. It also has a first party coverage The premium is around 1700 Rupees per annum. You have take a photo RC copy and go directly submit and they will start insuring the process.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Apr 28, 2017
    • review Two Wheeler Insurance
      "Need improvement"
      0.5 1.0/5 "Really Bad"
      Holding two wheeler insurance with New India assurance company. I got it for last 4 years ago. They were not intimating me the renewal date, they don't even send any text messages or mails, The policy coverage and the claim experience is good with new India assurance company. I paid around Rs.9000 for my Suzuki excess 125CC.
      Was this review helpful? 1
      , pune
      Reviewed on Apr 24, 2017
    • review Two Wheeler Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I had taken a bike insurance from New India Insurance. Premium is amounting to rs 850, I normally pay my premium online and I got to know each and every information through online only. Every month I get reminder about my payment exactly before 3 days in advance. There are 2 types of policies NO.1 where I get 100% claim for all. NO.2 where I get a claim only for metal not for plastic.
      Was this review helpful? 2
      , bhopal
      Reviewed on Apr 13, 2017
    • review Two Wheeler Insurance
      "Good insurance"
      0.5 4.0/5 "Great!"
      Using this new India assurance insurance policy from 2010. I pay around Rs.1260 as premium every year. I renew this insurance for past 6 to 7 years, but then I don't utilize any claim coverage or any service with them. I got insurance for my Honda shine two wheeler. The renewal just takes few minutes. I can it is an government aided insurance company, which is recommendable.
      Was this review helpful? 2
      , bangalore
      Reviewed on Apr 13, 2017
    • review Two Wheeler Insurance
      "Best"
      0.5 5.0/5 "Blown Away!"
      I have got the two wheeler insurance policy with New India assurance company and am paying around 1600 Rupees as premium. Coverage value is around 60000 Rupees and the services are good. I have not faced any claims with them till now and their services are good.
      Was this review helpful? 2
      , tirupur
      Reviewed on Apr 06, 2017
    • review Two Wheeler Insurance
      "Good"
      0.5 4.0/5 "Great!"
      My bike insurance is with different insurance company which I dont recall where it is. Now I had taken the bike insurance from New India Insurance .Yearly premium is around rs1500. The highlight of this policy is every year if you approach them for a claim they will cover all the parts of the vehicle without having any restrictions.
      Was this review helpful? 3
      , ramanagaram
      Reviewed on Mar 29, 2017
    • review Two Wheeler Insurance
      "Good choice"
      0.5 5.0/5 "Blown Away!"
      I have two wheeler insurance policy with New India Assurance company and am paying around 1000 Rupees per annum. Total coverage value of my vehicle is around 45000 Rupees and the depreciation value would be around 5000 Rupees per annum. I have not faced any claims with them and they are providing third party coverage also.
      Was this review helpful? 5
      , vijayawada
      Reviewed on Mar 18, 2017
    • review Two Wheeler Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I do have two wheeler insurance policy from New India assurance company and I had been with them from the last one year of time. I have not faced any claims with them and the depreciation value is around 20000 Rupees from the last year of time. I had done it through an agent and I have got the papers on the first day itself .
      Was this review helpful? 4
      , kanchipuram
      Reviewed on Mar 08, 2017
    • review Two Wheeler Insurance
      "VERY GOOD"
      0.5 4.0/5 "Great!"
      New India two wheeler loan is fine, it very easy to renew is done. I have not yet claimed with New India assurance related to the two wheeler Insurance.The service offered was good.While getting the insurance they have not informed anything about coverage.After 3 free services later it will be chargeable.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Mar 06, 2017
    • review Two Wheeler Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have not yet claimed with New India assurance related to the two wheeler Insurance.The service offered was good.The service offered was good. Initially i was having different insurance, Now have opted for this one because one of my friend is working in new India so suggest me to opt for it.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Mar 06, 2017
    • review Two Wheeler Insurance
      "Good"
      0.5 4.0/5 "Great!"
      4 years I had a two wheeler from Bajaj, they themselves had provided this insurance to me. The premium amount what I pay is rs 1000. It provides a coverage for engine parts etc . Till now I did not face any issues with this insurance. I had asked my uncle to pay the premium on my behalf and I have never attempted to pay it online or through some other mode.
      Was this review helpful? 1
      , chennai
      Reviewed on Feb 15, 2017
    • review Two Wheeler Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have two wheeler insurance policy with United India Insurance company for 5 years and the premium amount is their but iam not sure about it because my father takes care of all this. Customer service is good with them and I have not faced any claims till now.
      Was this review helpful? 3
      , chennai
      Reviewed on Feb 12, 2017
    • review Two Wheeler Insurance
      "Very Good"
      0.5 4.5/5 "Excellent!"
      More than 10 years I am using New India Bike loan insurance, yearly I pay 800 as a premium. Even if I miss my payment they don't charge any kind of penalty nor any additional charge for the same. They went extra mile and asked me what all to be covered under this insurance.
      Was this review helpful? 0
      , madurai
      Reviewed on Feb 07, 2017
    • review Two Wheeler Insurance
      "Good service but the term coverage is not okay"
      0.5 4.0/5 "Great!"
      New India two wheeler loan is fine, it very easy to renew is done. They do not offer policy more than a year., My suggestions is they have to provide policy is more than 2 years too. For a period of 3.5 years and the premium amount keeps decreasing very year I pay around rs 800.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 17, 2016
    • review Two Wheeler Insurance
      "Good "
      0.5 4.0/5 "Great!"
      I have not yet claimed with New India assurance related to the two wheeler Insurance.The service offered was good.They have provided coverage till 70% for the claims.The online payment options provided was very convenient for the customer in processing.
      Was this review helpful? 9
      , bangalore
      Reviewed on Jun 14, 2016
    • review Two Wheeler Insurance
      "Good service "
      0.5 5.0/5 "Blown Away!"
      I have been renewing the Two wheeler Insurance with New India Insurance for last 4years.I have to make premium payment around 800Rs in Insurance.They also make a coverage for the Insured and opposite rider.The premium is accepted via cheque and cash payment modes
      Was this review helpful? 3
      , aurangabad
      Reviewed on Jun 07, 2016
    • review Two Wheeler Insurance
      "Dependable as its Government owned"
      0.5 3.5/5 "Pretty good"
      I have taken my Two wheeler Insurance with New India Assurance which I took once the old insurance by the dealer expired 5 years back. I pay around Rs.1100 and renew this online every year. Their alerts and reminders are good and on time. It covers damages due to calamities, vehicle parts, third party liability and personal accidental cover.
      Was this review helpful? 3
      , vijayawada
      Reviewed on Apr 23, 2016
    • review Two Wheeler Insurance
      "Good "
      0.5 4.0/5 "Great!"
      New india insurance company provides the coverage for my two wheeler. I been the insurance holder for them from the last five years of time. I have paid around 875 Rupees as the premium and the customer service is good. I have not claimed anything till now.
      Was this review helpful? 2
      , chennai
      Reviewed on Apr 11, 2016
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