Whoever said wishes don’t come true hasn’t explored our offers!
  • The New India Assurance Two Wheeler Insurance

     4.5 / 5.0   by 130 users
    Used this product? Write a review >>

    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

    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.

    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.

      5th August 2015

    New India Assurance Two Wheeler Insurance Reviews

  • Page 1 of 7 1 2 3 4 5
    • review Two Wheeler Insurance
      "Good for two wheeler"
      0.5 4.0/5 "Great!"
      I have purchased Royal enfield bike, worth Rs.1.55 lakh, for that I have taken two wheeler insurance from New India Assurance. I paid the premium around around 3000 for the tenure for one year. They gave 80% of coverage its good, I have activated this policy through online.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 23, 2017
    • review Two Wheeler Insurance
      "Good vehicle policy "
      0.5 5.0/5 "Blown Away!"
      With New India Assurance I am renewing my 2 wheeler insurance policy for more than 6 years. This year I have paid around Rs.1000 to renew the policy. The new India assurance executives will sent the notifications to renew the policy before the due date. I never had claim experience so far and I am satisfied using this policy from New India assurance .
      Was this review helpful? 0
      , dharwad
      Reviewed on Aug 22, 2017
    • review Two Wheeler Insurance
      "Lower company which provides lower premium"
      0.5 1.0/5 "Really Bad"
      I paid the bike premium of Rs.2200 for brand new vehicle but it met with an accident in 12 days of old. At the time I have reimbursed bill amount 28000 but New India Assurance gave me coverage value of Rs.17000. Bike cost of Bajaj pulsar 200 ns was around four lakhs.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Aug 16, 2017
    • review Two Wheeler Insurance
      "Good two wheeler insurance"
      0.5 5.0/5 "Blown Away!"
      Online process is not there, however when I visit their premises they hardly take one hour when it comes to renewal no claim experience till date. Even the premium is high, I am holding this insurance since 2007. Apart from the premium rest is fine.
      Was this review helpful? 0
      , kanchipuram
      Reviewed on Aug 08, 2017
    • review Two Wheeler Insurance
      "Better insurance for Bike"
      0.5 5.0/5 "Blown Away!"
      My bike has insured with the NEW INDIA ASSURANCE Company. I got this policy recently. The customer service and the response is good with this poly. The plan benefits and the policy coverage's are good with this policy. I never had any claim experience so far. I paid Rs.1500 to get the insurance policy . I am satisfied using policy with New India assurance.
      Was this review helpful? 0
      , kurnool
      Reviewed on Aug 03, 2017
    • review Two Wheeler Insurance
      "Good to hold a policy"
      0.5 4.0/5 "Great!"
      As long as we pay the premium to get the policy they are happy and then when we start claiming in any incidents then they are different reactions. I had a claim experience with new India assurance, they were asked so many unnecessary documents to submit to get the claim. This policy is good only to escape from cops.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 01, 2017
    • review Two Wheeler Insurance
      "Best Insurance policy"
      0.5 5.0/5 "Blown Away!"
      The new India assurance company is the trust worthy company in which I got 2 wheeler insurance. I am renewing my 2 wheeler policy for past 2 years with New India assurance. I paid the Rs.1200 to renew the policy last year. The plan benefits and the policy coverages are good with new India assurance.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jun 27, 2017
    • review Two Wheeler Insurance
      "Average"
      0.5 3.0/5 "Satisfactory"
      I using this insurance for so many years. I paid for the renewal for about Rs.1300 but before that the amount was 1200 and the service was ok. Coverage value is, it fully covers the total amount and I dont have any claims till date. I used to get instant messages for my policy renewal.
      Was this review helpful? 0
      , mangalore
      Reviewed on Jun 04, 2017
    • 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? 2
      , 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? 4
      , 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? 2
      , 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
    Common Loader Icon
    Page 1 of 7 1 2 3 4 5
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.