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The New India Assurance Two Wheeler Insurance

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Plan Benefits

Policy Coverage

Customer Service

Claim Experience

Two Wheeler Insurance
  • Get liability-only and comprehensive cover
  • Cashless garages available
  • Hassle-free online buy/renewal offered by insurers

Overview about New India Assurance Bike Insurance

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 online. 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.


Key Benefits Of The New India Assurance Two Wheeler Insurance

01
02
Discounts

Discounts

No Claim Bonus discounts range from 20% - 50% on renewal of the policy

Accidental Cover

Accidental Cover

Cover is provided for the owner's legal liability in the accident


Add-on Covers For The New India Assurance Two Wheeler Insurance

01
Additional Covers

Additional Covers

Legal liability to employees, legal liability to non-fare paying passengers commuting in commercial vehicles, and damage or loss caused because of accessories in the vehicle - like fan, stereos, etc. is covered.


Inclusions And Exclusions In The New India Assurance Two Wheeler Insurance

01
02
Inclusion

Inclusion

Loss or damage to the insured vehicle due to fire / earthquake / flood / cyclone

Exclusion

Exclusion

Damage by a person driving under the influence of liquor / alcohol / drugs


New India Assurance Two Wheeler Insurance
New India Assurance Two Wheeler Insurance

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

New India Two 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.

How Zero Depreciation Add-On Covers Works in New India Assurance:

New India Assurance offers an add-on cover for its comprehensive policyholders called the No Depreciation Cover. Here’s how it works.

The cover basically relieves the policyholder from paying for the depreciation of 5% to 50% on various parts of their vehicle which include plastic, metal, rubber, or fibre if a loss occurs due to an accident. When a policyholder has this cover, almost all expenses associated with the repair of their vehicle will be covered by the company. There is a limitation to this cover, however, as it is only available for vehicles that are less than 5 years old.

Rating factors for New India Assurance Two-wheeler Insurance

New India Assurance has a number of rating factors which it takes into consideration to to assess the amount of risk a two-wheeler poses and also to decide on the premiums. These rating factors include:

  • Insured Declared Value (IDV): This is basically the sum insured for the vehicle at the inception of the policy. It takes into account the selling price of the vehicle by a manufacturer minus the cost of taxes, registration costs, and health insurance policy premium. If an individual wants a higher IDV, they will have to pay a higher premium so as to offset the costs.
  • Cubic capacity: The cubic capacity of a vehicle is also taken into consideration when determining the amount of risk a two-wheeler poses. This is because insurance companies believe that higher cc vehicles are more likely to be susceptible to damages subsequently leading to insurance claims. This can also have an impact on the premiums a policyholder is likely to pay,
  • Geographical zone: The location a prospective buyer lives in will also have a bearing on the premiums they are likely to pay. This is because an individual living in the city is more likely to get into an accident than a person living in a remote village. Also, a person living in a conflict-ridden region is more likely to claim for damages, when compared to people from other regions.
  • Age of the vehicle: How old a vehicle is has a say in the liability an insurer is up against. If the vehicle is older, the insurer is likely to consider it a bigger liability as compared to a new vehicle.
  • Add-on cover: As mentioned earlier, an add-on is a cover that is added to a vehicle over and above the comprehensive policy. This means that an individual looking to buy an add-on cover should pay a much higher premium as opposed to an individual who doesn’t opt for an add-on cover.

How To Renew New India Assurance Two-Wheeler Insurance Renewal Online?

Renewing your twowheeler insurance policy could be easier than you think. On the official website of the New India Assurance, you will find the ‘quick Renewal’ option under ‘Quick Help’ tab on the top menu bar. Once you click ‘Quick Renewal’, you will be redirected to a new page where you can fill in the required details and complete the renewal process.

Step 1: Fill in the details such as customer Id, existing/old policy number or renewed quote number in the form that appears on the ‘Quick Renewal’ page. Click ‘Proceed’ after filling in your details.

Step 2: You can have a look at your details and save the quote to proceed further.

Step 3: You can convert the approved quote into an active insurance policy and pay the displayed premium amount through a credit card/debit card or net banking.

You will find your policy mentioned in your existing policy document. Once you successfully complete the payment process, your insurance policy will be renewed. If you encounter any difficulty while renewing the policy online, you may send across an email at tech.support@newindia.co.in. The sales and support team will address your queries and resolve any issues faced by you.

The calculation of premium will take the applicable GST (Goods and Services Tax) into account. If you are eligible for GST exemption, you may get in touch with your nearest New India Assurance branch office along with the supporting documents to purchase or renew the policy.

How To Check Payment Status:

You may check the status of your payment through the ‘Check Payment Status’ option under the ‘Quick Help’ tab. You may be required to enter basic details such as customer Id and policy number.

FAQs-Frequently Asked Questions

  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.

  6. Is No Claim Bonus available on this policy?

    Yes. No claim bonus is available on this policy and it ranges between 20%-50% depending upon the number of claimless years.

  7. What is the liability coverage limit under this policy?

    The New India Assurance Two Wheeler policy offer a liability cover of Rs.1 lakh for scooters and motorcycles.

  8. Who can opt for this policy?

    Any individual who has his/her vehicle registered in their Regional Transport Office (RTO) can buy this policy.

  9. Do I get any add-on covers with this policy?

    There’s only one add-on cover available under this policy, which is known as Nil Depreciation Cover.

This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

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.

    5 August 2015

New India Assurance Two Wheeler Insurance Reviews

Page 1 of 14 1 2 3 4 5
  • New India Two Wheeler Insurance
    "Good Insurance company"
    0.5 4.0/5 "Great!"
    They are good in all service, without approach them they are providing good service. New India premium is economical, I paid the premium around Rs 7000 for three years. They gave me the third party cover, cash less service. They got tie up with many experience the agents are good.
    Was this review helpful? 2
    , chennai
    Reviewed on Jan 18, 2019
  • New India Two Wheeler Insurance
    "Good Experience"
    0.5 5.0/5 "Blown Away!"
    In New India, I have insured my Hero CT delux bike, once a while it got damaged they done the service on time, the premium is low however the insured value is good. It has third party insurance, the service is good and I could renew the policy on time.
    Was this review helpful? 0
    , ambala
    Reviewed on Jan 10, 2019
  • New India Two Wheeler Insurance
    "Average Two Wheeler insurance"
    0.5 3.0/5 "Satisfactory"
    My two wheeler insurance was taken from New India for my new bike. The showroom people has done a insurance when i purchased my two wheeler. I paid the premium amount of Rs. 1600. The documentation process was simple. They have given the IDV value of Rs. 55000 which I'm happy about.
    Was this review helpful? 3
    , mangalore
    Reviewed on Jan 09, 2019
  • New India Two Wheeler Insurance
    "Good policy for two wheeler insurance"
    0.5 4.0/5 "Great!"
    Taken my two wheeler insurance policy from New India since the renewal procedure is easy with the executive, i have been renewing the policy for continuous 9 years with the same company. I do the renewal offline and The premium amount was low when i compared with others.
    Was this review helpful? 3
    , pune
    Reviewed on Dec 28, 2018
  • New India Two Wheeler Insurance
    "Its Good"
    0.5 4.0/5 "Great!"
    The premium amount is low for my bike policy I paid the amount around Rs. 1500 for one year period, they have first party insurance, the customer support taken less time to generate the policy in a low duration. I am happy with New India insurance.
    Was this review helpful? 2
    , pune
    Reviewed on Dec 18, 2018
  • New India Two Wheeler Insurance
    " Satisfactory policy for my bike"
    0.5 4.0/5 "Great!"
    I have friend working with New India Assurance, they generated the policy, they done things easier way, the premium is less than others, I have three years of policy the IDV value remains same. I have taken third party liability plan for my bike.
    Was this review helpful? 2
    , bangalore
    Reviewed on Dec 13, 2018
  • New India Two Wheeler Insurance
    "Its Affordable"
    0.5 5.0/5 "Blown Away!"
    I believe New India assurance two wheeler policy premium is nominal for one year policy, but I don't have any claim. I have no much paper work hence I have taken the bike policy through dealer. They gave third party cover liability its good for me.
    Was this review helpful? 2
    , ludhiana
    Reviewed on Dec 13, 2018
  • New India Two Wheeler Insurance
    "Average service"
    0.5 2.0/5 "Expected more"
    I have taken my two wheeler insurance policy with New India. I have been renewing the policy with the same company. I have not applied for any claim process so far. When i visit the branch for the renewal the service is good. I make the payment through cash. I pay the premium amount of Rs. 1100. I never faced any issue with this policy.
    Was this review helpful? 1
    , vellore
    Reviewed on Dec 04, 2018
  • New India Two Wheeler Insurance
    " Father of all insurance companies in India. "
    0.5 5.0/5 "Blown Away!"
    My two wheeler insurance policy was bought with New India Assurance. From the dealer side they have provided the two wheeler insurance policy when i was purchased the bike after that i have renewed the with the same company. I paid the premium amount of Rs. 1000 approximately. I have not contacted the customer care service if New India. I'm not sure about the coverage value.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Dec 03, 2018
  • New India Two Wheeler Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been applied for Two wheeler insurance with New india insurance , the premium amount they have charged me in a year up to 1345 which is nominal and this insurance cover up to 1,00,000 value and i use to pay premium through off line mode.
    Was this review helpful? 3
    , chandigarh
    Reviewed on Nov 19, 2018
  • New India Two Wheeler Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I have a two wheeler insurance with New India Assurance from last 3 years, i am not aware of the premium amount as my company pays it. There was no claim experience so far with this insurance policy. I am happy with the policy coverage and plan benefits of this policy.
    Was this review helpful? 3
    , hyderabad
    Reviewed on Nov 16, 2018
  • New India Two Wheeler Insurance
    "Average Policy"
    0.5 3.5/5 "Pretty good"
    I have my two wheeler insurance with New India Assurance from last 1 year, i am happy with the coverage value and plan benefits of this insurance policy. A premium of Rs 1300 has to be paid for this insurance policy and i had no claim experience.
    Was this review helpful? 0
    , visakhapatnam
    Reviewed on Nov 01, 2018
  • New India Two Wheeler Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I had taken this insurance policy a long time back and i had been paying the premium on an annual basis of 2000. There has been some small issues faced with them and the policy covers the whole vehicle. I had made the claims as well and the payment methods has been easy.
    Was this review helpful? 1
    , coimbatore
    Reviewed on Oct 31, 2018
  • New India Two Wheeler Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I had taken this insurance policy from them a long time back and the experience i had with them has been good. I had made some claims with this policy and it has been convenient. The premium had been paying on an annual basis and the method has been convenient. There has only been some small issues that i had faced with them.
    Was this review helpful? 1
    , coimbatore
    Reviewed on Oct 31, 2018
  • New India Two Wheeler Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I had been paying this premium on an annual basis and their services had been good. The premium amount has been nominal and it was around 2000. I had been paying the premium directly offline and it has been easy in the payment methods and there has not been any hassle.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Oct 31, 2018
  • New India Two Wheeler Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    My two wheeler is insured with New India assurance from last 1 year, a premium of Rs 1200 has to be paid for this insurance policy. I have no claim experience so far with this insurance policy. I am happy with the policy coverage and plan benefits of this policy.
    Was this review helpful? 4
    , chennai
    Reviewed on Oct 11, 2018
  • New India Two Wheeler Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I have a two wheeler insurance with New India Assurance from last 4-5 years, a premium of Rs 1200 has to be paid for this insurance policy. I have not claimed anything so far with this insurance policy and i am happy with the coverage value.
    Was this review helpful? 2
    , bangalore
    Reviewed on Oct 11, 2018
  • New India Two Wheeler Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    My two wheeler is insured with New India Assurance from last 1 year, I pay a premium of less than Rs 1000 for this insurance policy. There was no claim experience so far with this insurance policy. I am happy with the policy coverage and plan benefits of this policy.
    Was this review helpful? 8
    , bangalore
    Reviewed on Sep 29, 2018
  • New India Two Wheeler Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I have my two wheeler insured with New India Assurance from last 2-3 years, i am happy with the coverage value of this insurance policy. My claim experience was good with this insurance policy. A premium of Rs 2500 has to be paid for this insurance policy. I am satisfied with the policy coverage and plan benefits of this policy.
    Was this review helpful? 7
    , chennai
    Reviewed on Sep 05, 2018
  • New India Two Wheeler Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I have a two wheeler insurance with New India Assurance from last 5 years, i am happy with the coverage value of this insurance policy. I pay a premium of Rs 1100 for this insurance policy and i have no claim experience so far with this two wheeler insurance.
    Was this review helpful? 3
    , erode
    Reviewed on Aug 28, 2018
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