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.
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.
|SECTION||DAMAGE||Rates (Per Mille)|
|I||Fire & Allied Perils||a. Building: 0.50 |
b. Contents: 0.50
|II||Burglary & House Breaking including larceny and theft.||2.40|
|III||All Risks (Jewellery & Valuables)||10.00|
|V||Breakdown of Domestic appliances||2.50|
|VI||T.V. Set including VCP/VCR (ALL RISKS)||10.00|
|VII||Pedal Cycles (All Risks)||20.00|
|IX||Personal Accident||As per schedule|
|X||Public Liability||0.50 as per tariff|
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:
If any unexpected incident occurs that damages your house or the assets insured under the policy, the following steps will need to be taken:
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.
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.
Only Class-A construction is allowed under this policy.
No, only those assets are covered which belong to the insured and the family members who live permanently with them.
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.
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.
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.
Yes. The sum insured of this section should not exceed a total of 72 months’ salary from your current employment.
Yes, you can purchase the policy, but only the contents/assets of the house will be insured.
Last updated on 06-11-2020