New India Assurance is one of the renowned general insurance providers in India. The company has been accredited with a number of awards for its excellent services. New India Assurance Company Limited has its head office in Mumbai, while it operates in more than 28 countries across the world. Apart from New India Assurance Two Wheeler Insurance, the company also offers a number of other general insurance products. It includes motor insurance for commercial and private vehicles, health, travel, machinery insurance, and special insurance products like rural and marine insurance.
New India Assurance Two wheeler Insurance Features
Here’ what you can avail if you buy New India Assurance bike insurance policy-
- Both third-party and comprehensive insurance cover is available in this policy
- Insurance available for financed vehicles as well
- Easy to purchase New India Assurance two wheeler insurance online
- Coverage available for vehicles that are 15 years old or less.
Eligibility Criteria – New India Assurance Two wheeler Insurance
It is required for your bike/scooter/ Activa to be registered with Regional Transport Authority of India in your name.
Sum Assured – New India Assurance Two wheeler Insurance
The sum assured for New India Assurance bike insurance is determined on the basis of its Insured Declared Value i.e. IDV. The manufacturing price of the two-wheeler fixed by its manufacturer shall be considered to fix the IDV of the insured bike or two-wheeler.
IDV of an obsolete model or a vehicle that is more than 5 years old can be decided mutually between the insured and the two-wheeler insurance companies.
The NCB varies from 20 percent to 50 percent. It depends upon the type of two-wheeler that is insured and the number of claim-free years.
New India Assurance Two wheeler Insurance Inclusions
The policy makes available both third-party liability insurance and comprehensive two-wheeler insurance. Following are the two types of coverage that you can avail-
- New India Assurance Third-party Liability Insurance– If there is a third-party death, bodily injury or property damage from your two-wheeler, in that case, the insurer shall recompense the loss. It also covers damage to the owner/driver in case of an accident.An unlimited cover is provided in respect of any third-party bodily injuries or death. Whereas, the compensation limit for two-wheeler is capped at INR lakh for third-party property damages.
- New India Assurance Comprehensive Package policy – It covers third-party liabilities and also the damage caused to your two-wheeler (including its accessories). Coverage is provided if the damage arises under the following circumstances-
- Storm, flood, cyclone, typhoon, earthquake, landslide etc.
- Housebreaking, theft, and burglary
- Malicious and Terrorist Activities
- Accident or Collision
- During Transit
Towing assistance is also provided in New India Assurance bike insurance policy. The limit is Rs. 300 and it can be increased after paying an extra amount of premium. You can also buy New India Assurance bike insurance online.
New India Assurance Two-wheeler Insurance – Exclusions
The policy does not cover claims arising out of:
- Civil war and riots
- Contractual Liabilities
- Consequential Losses
- Routine wear and tear
- A driver found to be driving without a DL
- A driver found to be driving after consuming liquor
- Usage of two-wheeler beyond the scope of coverage
New India Assurance Two-wheeler Insurance Add-on Covers
You can extend the policy coverage by paying an additional premium –
- Coverage for accessories
- Personal accident (PA) cover for employees, driver, and passengers
- You can also cover co-passengers in case of commercial vehicles
New India Assurance Two-wheeler Insurance Optional Covers
Furthermore, there is an option to buy Raasta Aapatti Kavach or Road Safety Insurance Policy. It includes compensation for hospitalization expenses incurred due to accidental injuries. And the sum assured for personal accident damage cover ranges from INR 25,000 to INR 1 lakh. The limit can further be increased up to INR 10 lakhs.
On payment of additional you can extend the coverage for bodily injuries to a third person, road accidents, accident while on duty, and any other accident.
How to Compare and Buy New India Assurance Bike Insurance Online?
To ensure that you are fully covered, it is suggested that you compare your two-wheeler insurance quotes online. In a matter of few seconds, you can know your premium and get two-wheeler Insurance quotes.
However, the comparison is made on the basis of the two-wheelers’-
- The City of Purchase/Registration
- Date of First Purchase
Personal Details Required –
- Your Mobile Number
- And email Id
Once you decide the policy type i.e. third-party or comprehensive, you can then check the add-on benefits and optional covers that you may require. Because your insurance premium will vary based on the selection you make. Once you are sure, you can make the payment and buy New India Assurance two wheeler insurance policy online.
New India Assurance Two Wheeler Insurance Renewal
New India assurance bike insurance renewal process is as simple as buying it online. The company allows you to easily renew bike insurance purchased from New India Assurance or from a different insurer.
Moreover, you can opt for a quick renewal option. Here’s what is required for Quick Renewal –
- Your Customer ID
- Old Policy Number or Renewed Quote Number
- After filling all the information, you can save your two-wheeler insurance quotation to proceed
- Once all the details are provided, you can pay the amount online through net banking, credit or debit card.
- Once the payment is made, your New India Assurance two wheeler insurance policy will be renewed or issued
New India Assurance Two Wheeler Insurance Claim Process
The process to file a claim with New India Assurance is elucidated below-
For Third-Party Claims-
- You must inform the insurer immediately about the accident
- As soon as you receive the court summons, share them with the insurer
- Provide the insurer with a duly filled claim form
- Furthermore, you also need to submit the copy of RC, DL, and police FIR
For accidental damages to the two-wheeler-
- Straightaway intimate to the branch office where they will issue a claim form.
- You need to submit that claim form after filling the required information. Also, attach a copy of your RC and DL.
- A survey of your two-wheeler will be conducted by their representative.
- Based on his report the claim will be processed further.
- Then you need to sign the cash memos and bills of the repair work.
- Once the claim is approved, you might need to submit the salvage of the broken/damaged parts.
For theft-related claims-
- A policy F.I.R. needs to be filed
- The police report needs to be submitted to the insurer.
- Make sure that you cooperate fully with their representative at the time of vehicle inspection.
- Once the claim is approved, transfer the RC in the company’s name. Also, handover the bike keys along with the subrogation letter. Furthermore, you need to hand over the keys of the vehicle, submit a letter of Subrogation and Indemnity on a duly notarized stamp paper.
New India Assurance Two-wheeler Insurance Claim Documents-
- Claim Form (duly filled and signed)
- Police FIR
- Claim intimation copy
- A Xerox of the policy
- Receipt of the insurance premium paid
- Repair Estimates
- Receipts and bills (stamped)
- And other documents as mentioned in the policy wordings.
If you already have a two-wheeler or are planning to buy one, you should be prepared to invest your money in a two-wheeler insurance policy to deal with road emergencies in a secured manner.
New India Assurance Two Wheeler Insurance FAQs
Q1. What is covered under a third-party motor insurance policy?
It is essential to buy third-party liability insurance for all the vehicle owners in India to ensure the safety of a third person, in case of accidental injuries or damage from your vehicle.
Q2. Why is it a good idea to buy a comprehensive New India Assurance Two-wheeler Insurance policy?
To ensure that you are fully protected from road exigencies, it is recommended to buy a comprehensive package policy. It compensates both third-party damages and any damage caused to your own two-wheeler. Furthermore, you can also get add-on benefits like the return to invoice benefit, roadside assistance etc.
Q3. Do I need to submit any documents while filing a claim for my bike insurance?
Yes, following documents are required to file New India Assurance bike insurance claim –
- Duly filled bike insurance claim form
- Registration Certificate and Driving License
- Police FIR/report
- Bills for damage repair proof
- Copy of insurance policy
- Insurance premium receipt
Q4. Can in renew New India Assurance Two-wheeler Insurance online?
Yes, it is possible to renew your policy online. The premium will vary based according to the –
- IDV of the two-wheeler
- Geographical zone
- Two-wheeler’s age
- Cubic capacity
- Add-on Benefits
Q5. Can I make the payment directly to the workshop?
If it an approved workshop, you can make the payment. If it is not a registered garage, you should not pay for the damage directly.