New India Home Insurance
New India Home Insurance
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New India Home Insurance

Established in 1919 by Sir Dorabji Tata, the New India Assurance Company is a multinational general insurance company offering products that span across motor, health, travel, rural, marine, and other miscellaneous policies. It offers over 250 products to all sections of the society, through its 2,395 offices in India and through foreign offices in 28 other countries. It employs 16,795 people and 68,389 agents to expand its footprint all over the globe as a premier general insurance company.

New India Assurance provides financial cover to help people mitigate their losses arising from unexpected events. A major financial loss that any individual may face is damage to his home and its contents, which may cause a heavy burden on his finances, as a house is one of the biggest investments that a person does. Through New India house holder policy, individuals can secure their buildings and assets against losses or damages and avoid a huge financial setback.

New India House Holder Insurance Policy

The New India House Holder Insurance Policy is designed to offer protection to homeowners from damages due to unexpected events. It provides protection through damages and losses that are classified into ten different sections. As a mandate, an individual should select a minimum of 3 sections, where Section 1B is compulsory.


IFire & Allied Perilsa. Building: 0.50
b. Contents: 0.50
IIBurglary & House Breaking including larceny and theft.2.40
IIIAll Risks (Jewellery & Valuables)10.00
IVPlate Glass10.00
VBreakdown of Domestic appliances2.50
VIT.V. Set including VCP/VCR (ALL RISKS)10.00
VIIPedal Cycles (All Risks)20.00
VIIIBaggage Insurance7.50
IXPersonal AccidentAs per schedule
XPublic Liability0.50 as per tariff


  • Under the policy, if an individual selects more than 4 sections, he qualifies to get a discount on premium for the policy (as decided by the company).
  • The policy also provides protection to the jewelry kept in the house, as well as those that are carried while traveling anywhere in India.
  • Under this policy, if an individual who is not the insured or his family member, is injured due to the damage to the property, that individual gets a financial compensation of Rs, 25,000 under Section VI, and Rs. 10,000 under section VII.

How should I purchase the New India Home Insurance Policy?

New India Assurance has designed a user-friendly website that allows you to purchase any policy online without any hassles. If you want to purchase the householder policy, you need to follow the below steps:

  • Visit the website of New India Assurance, go to ‘Products’, and select ‘House Holder’ under the ‘Miscellaneous’ tab.
  • On selecting the ‘House Holder’ product, you will see three options, ‘Know more’, ‘Get a quote’, and ‘Buy online’. Select ‘Buy online’ and you will be redirected to the online purchase portal of New India Assurance.
  • On the web portal, there are four sections. In the first section, you will be asked to enter the policy period, the standard covers you want to avail of, and any additional covers you may need. In the same section, enter your mobile number and email ID and click on ‘Save and Continue’.
  • You will be directed to the next section where you will be asked to enter your additional personal details, and then click on ‘Save and continue.’
  • After this, you will be directed to the third section, known as ‘Summary’, where you will get a summary of all the details you have entered along with your premium details. Once you have ensured that the details are correct, you need to move to the fourth section (premium payment).
  • Make the payment using the available payment modes and the generated policy and the premium receipt will be sent to your email ID and physical address.

Claims Procedure

If any unexpected incident occurs that damages your house or the assets insured under the policy, the following steps will need to be taken:

Immediate Action

Once the incident occurs, take immediate action to minimize the loss so that the product doesn’t damage more. In case of fire, inform the fire brigade immediately, and in case of theft, inform the police about the items stolen and its approximate value.

Informing The Company

Once you take the necessary actions, inform New India Assurance about the incident by phone, fax, or in writing. Provide all the requested details, and do not attempt to repair the items before taking the approval of the company. Fill the claim form and submit all the relevant details to the company as requested.


The insurance company will appoint a surveyor who will assess the damage and take the appropriate decision after careful scrutiny.

New India Home Insurance : FAQ’s

1. What type of construction is protected under the New India Householder Insurance Policy against fire and allied perils?

Only Class-A construction is allowed under this policy.

2. My cousin who lives abroad had come to my house and a few of his kitchen sets, including plate glasses, were damaged during the recent flood and waterlogging. Will his assets be covered under my New India Householder Policy?

No, only those assets are covered which belong to the insured and the family members who live permanently with them.

3. How should I classify and select the sum insured for my household items?

You need to select the items and group them under identifiable categories such as clothing, furniture, crockery, utensils, etc. Once grouped, you need to assign a value to the items, which are equal to their market value.

4. What should be the value of the domestic appliances, which undergo wear and tear during the course of time?

If you want to insure a domestic appliance, the sum insured of the item should be equal to the current replacement value of an item of similar proportions.

5. My refrigerator got damaged last week. Since it is insured under the New India householder policy, how much claim would be payable?

Under the terms of the policy, the claim amount will be equal to the amount needed to repair your refrigerator and bring it to its original condition.

6. Is there a limit on the sum insured for section IX – personal accident under the policy?

Yes. The sum insured of this section should not exceed a total of 72 months’ salary from your current employment.

7. Can I purchase the policy if I am staying in a rented house?

Yes, you can purchase the policy, but only the contents/assets of the house will be insured.

Last updated on 06-11-2020