Insurance is like a spare tyre. You may not require it, but not having one is not an option.
Insurance is like a spare tyre. You may not require it, but not having one is not an option.
  • The New India Assurance Two Wheeler Insurance

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    New India Assurance Two Wheeler Insurance

    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

    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


    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.

    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 10 1 2 3 4 5
    • New India Two Wheeler Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken Two wheeler Insurance with New India Assurance.The premium amount is 1000 i get a policy coverage amount of 25-30k,i have no claim experience with them till now.I pay my through an ECS.The website is very much easy to understand.
      Was this review helpful? 0
      , kochi
      Reviewed on Jan 12, 2018
    • New India Two Wheeler Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance done with New India Assurance.I have been holding the policy for past 4-5 years.I pay a premium of 1500,I do make payment through online service.The executives do respond on time.The company gives a best policy coverage amount.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 09, 2018
    • New India Two Wheeler Insurance
      "Good insurance policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with New India Assurance from last 3 years and it is a good insurance policy to use. This policy has to be renewed every year and i pay a premium of Rs 900 for this insurance. The claim experience was good with this insurance and they covered 60%. I am happy with the coverage and plan benefits of this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 08, 2018
    • New India Two Wheeler Insurance
      "Good Insurance"
      0.5 5.0/5 "Blown Away!"
      My two wheeler insurance was taken from New India Assurance. Their service is good and claim experience was better. One my friend is working in this insurance so its very much comfortable. The customer services was good and they provided a faster response.
      Was this review helpful? 0
      , kochi
      Reviewed on Jan 06, 2018
    • New India Two Wheeler Insurance
      "Looking for better service"
      0.5 3.5/5 "Pretty good"
      I felt customer service is not good in New India assurance, their is not option to reach their customer care. First time I paid around Rs. 1400 it has tenure of one year. Policy cover was good, they gave me 80% of cover on the bike value. I would like to improve on helpline service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 28, 2017
    • New India Two Wheeler Insurance
      "Better"
      0.5 4.0/5 "Great!"
      I am using New India Assurance service for a long time. My two wheeler insurance was taken with them. The customer service was okay. I don't have any claim experience till now. I am paying around 1500 rupees annually. I make the payment through cash.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 16, 2017
    • New India Two Wheeler Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken Two wheeler Insurance with New India Assurance.The premium amount is 1500 per annum.I pay through cheque.I have been holding it for last one year.The online website is good and it has a various policy details.The executives give prompt response.
      Was this review helpful? 1
      , new delhi
      Reviewed on Dec 08, 2017
    • New India Two Wheeler Insurance
      "Good insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken a Two wheeler Insurance with New India Assurance.The policy was taken eight months back.I make a premium amount of 1600 online .I don't have claim experience till now.I get a policy coverage of 50,000,i am totally satisfied with the service.
      Was this review helpful? 0
      , nanded
      Reviewed on Dec 08, 2017
    • New India Two Wheeler Insurance
      "Good insurance policy"
      0.5 5.0/5 "Blown Away!"
      I have a two wheeler insurance of New India Assurance from last 6 years, this policy has to be renewed every year. I pay a premium of Rs 1200 on annual basis through online. I do not have claim experience so far with this policy. Customer service is good and they are very helpful. I am happy with the coverage and benefits of this policy.
      Was this review helpful? 2
      , thiruvananthapuram
      Reviewed on Dec 07, 2017
    • New India Two Wheeler Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken Two Wheeler Insurance with New India Assurance.The premium amount is Rs1600 paid once in a year.I get a good policy coverage amount.The customer service do respond on time.The online service is informative has got complete details of the scheme.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 07, 2017
    • New India Two Wheeler Insurance
      "Good protection for two wheeler"
      0.5 4.0/5 "Great!"
      NEW INDIA ASSURANCE got associated with my office, I am paying the yearly premium its keep on changing based on the age of the vehicle. I am fine with the policy coverage offering 80% of cover on my bike value. I am making the premium by cheque through their agents.
      Was this review helpful? 1
      , pune
      Reviewed on Dec 04, 2017
    • New India Two Wheeler Insurance
      "Better"
      0.5 4.0/5 "Great!"
      I have insured my two wheeler with the New India assurance company and I have not faced any claims. I would like to say that everything is good one because its government entity. I am happy with the New India assurance company.
      Was this review helpful? 0
      , pune
      Reviewed on Dec 01, 2017
    • New India Two Wheeler Insurance
      "Looking for better response"
      0.5 5.0/5 "Blown Away!"
      When I applied for the claim in New India Assurance, there was no response from their end, still now I didn't get any reimbursement for my bike damage. I paid the premium of Rs. 1400 for tenure of one year with zero dep cover. I am not happy with their service.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Nov 30, 2017
    • New India Two Wheeler Insurance
      "Need to explore"
      0.5 3.0/5 "Satisfactory"
      I have insured my two wheeler with the New India assurance company and they have given with lesser amount of premium. I have not faced any claims with them till now. Everything is fine one with the New India assurance company.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 29, 2017
    • New India Two Wheeler Insurance
      "Need to improve"
      0.5 2.0/5 "Expected more"
      I am having two wheeler, which got insured with the New India assurance company. I would like to say that the customer service was not really good one for me like I have not been approached by them till now. Its like a hard make relationship between myself and New India assurance company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 28, 2017
    • New India Two Wheeler Insurance
      "Better"
      0.5 3.0/5 "Satisfactory"
      I am having two wheeler, which got insured with the New India assurance company and I have not faced any claims with them till now. I would like to say that the customer service is not yet experienced with the New India assurance company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 27, 2017
    • New India Two Wheeler Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I got the NEW India assurance Two wheeler insurance policy for more than 15years. I get the reminders via NEW INDIA ASSURANCE agents to renew the policy on time. The customer support is good with the NEW INDIA ASSURANCE. I paid around Rs,1000 to renew the policy last year.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Nov 23, 2017
    • New India Two Wheeler Insurance
      "Better"
      0.5 3.0/5 "Satisfactory"
      I am having the two wheeler, which got insured with the New India assurance company, also I have not faced any claims with them till now. I would like to say that the customer service is good one with the New India assurance company.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 21, 2017
    • New India Two Wheeler Insurance
      "Best policy to use"
      0.5 5.0/5 "Blown Away!"
      I hold a two wheeler insurance with New India Assurance from last 5 years, i did not face any kind of issues with this insurance policy till date. I pay a premium of Rs 800 every year through cheque and they provide door step service to collect the payment. The coverage and benefits are also good in this policy.
      Was this review helpful? 0
      , bhuj
      Reviewed on Nov 20, 2017
    • New India Two Wheeler Insurance
      "Average policy to hold"
      0.5 4.0/5 "Great!"
      I had this two wheeler insurance with New India Assurance for the 1st year alone with them. I paid Rs. 1000 for the first year for this two wheeler insurance policy. I had no claim experience with them till I had the policy with them as my two wheeler was new.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 17, 2017
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