New India Bike Insurance
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New India Two-Wheeler Insurance

New India Assurance is an insurance company that has been designed and established by the Government of India on 23rd July 1919. The company is located in Mumbai and is running its business in around 28 different countries across the world. This company is a great choice for two-wheeler insurance solely because of the great customer service and their outreach to areas such as micro, rural and social sectors of the country.

The New India Assurance Company Limited offers two-wheeler insurance covers that are available in two types:

  1. Liability Only Policy that covers third party liability for death and/or bodily injury and property damage. This also includes personal accident cover for owner/driver.
  2. Package Policy that will cover the damage or loss to the vehicle insured along with the benefits covered under Liability Only Policy.

Highlights

Liability for Death or Bodily Injury

Unlimited

Liability for Damage to Third Party Property for Commercial and Private Vehicle

Rs 7,50,000

Liability for Damage to Third Party Property for MotorCycles or Scooters

Rs 1,00,000

Customer Service

10 am to 7 pm on all days except Sundays

**Last Updated on 05-11-2020

How To Renew New India Two-Wheeler Insurance?

You can renew your New India Two Wheeler insurance on the insurance provider website with their quick renewal steps. These steps are as follows:

  1. Visit the following link for Quick Renewal - https://www.newindia.co.in/portal/quickRenewPost/renewal
  2. Enter Customer ID and Renewal Quote Number that you would have received via an SMS. You can enter the Old Policy number instead of the Renewal Quote Number to begin the process.
  3. You can view your details and save the quote to proceed with the next step.
  4. You can quickly pay for the approved quote and convert it into an active policy by paying the premium online using debit card/credit card/net banking.
  5. Upon successful completion of online payment, your policy will be issued or renewed.

You can also renew your New India two-wheeler insurance on the website of an IRDAI approved insurance advisor - PolicyX.com. To begin right away, scroll up on this page and find the "Get Two Wheeler Insurance Quotes Online" on the top. The next few steps are easy and will take only 2 minutes to complete:

  1. Enter the details such as your bike's make, variant, RTO code and year of registration in the form.
  2. Select the "Renewal" radio button and click on "Continue".
  3. You will be redirected to a page consisting of two-wheeler insurance quotes from various insurance providers.
  4. You can either choose to continue with your existing plan or opt for another plan of your choice when renewing your insurance.
  5. Once you have selected, you can make the payment of renewal on the New India Assurance Co. Ltd.'s website via the available online payment methods.
  6. Once paid, you will receive your insurance policy document in your email within minutes.

Features and Benefits of New India Two-Wheeler Insurance

  1. The package policy of two-wheeler insurance covers loss or damage to the vehicle that was insured along with its accessories in case of:
    • Burglary, theft or housebreaking.
    • Malicious act.
    • Fire, self-ignition, explosion or lightning.
    • Riot and strike.
    • Earthquake damage (fire and shock).
    • Hurricane, flood, storm, tempest, typhoon, cyclone, hailstorm and inundation.
    • Landslide and rockslide.
    • When in transit by road, waterway, air or railway.
    • Any external accidental means.
  2. The package policy pays for the charges involved when towing the vehicle from the site of the accident to the garage. The maximum cost covered is Rs. 300 for motorcycles and scooters. Also, pays for the third-party towing of cars and commercial vehicles at the maximum cost of Rs. 1500.
  3. Option to choose a restricted cover along with Liability Only Policy. This cover will only protect the two-wheeler in case of theft and/or fire.
  4. Easy online purchase and renewal.

Discounts

The New India Two Wheeler Insurance offers a no-claim discount. This is available at the time of renewal of policy with the rates ranging from 20% to 50%. The percentage of discount solely depends on the type of vehicle and the number of years the owner has made no claim on the insured vehicle.

Add-ons Benefits

The two-wheeler insurance policy offers the following add-on covers on additional premium payment:

  • Personal accident cover: that will protect all the passengers and/or paid driver in case of an accident.
  • Loss or Damage to accessories: will cover all the accessories that are fitted in the vehicle.
  • Legal Liability to employees: will be covered under this add-on in case of an accident.
  • Legal Liability to non-fare paying passengers: will be covered in case the passengers were travelling in commercial vehicles.

New India Two-Wheeler Insurance Premium Calculation

There are several factors that are taken into consideration when coming up with the cost of premium rates. Those are:

  • Insured Declared Value: is the price that is pre-defined by the insurance provider for your vehicle model. This is the rate of insurance that can be declared against your two-wheeler and will be compensated in case of the total loss of your vehicle.
  • Cubic Capacity: is the displacement that your two-wheeler's engine provides. The higher the CC, the higher will be the vehicle's premium rate.
  • Geographical Zone: will be taken into consideration. Vehicles in areas prone to theft and/or natural calamities are charged higher premium rates.
  • Age of the vehicle: is the number of years since the date of manufacture or the year it was purchased (for first-hand vehicles). The higher the age, the higher will be its premium rate.
  • Gross Vehicle Weight in case of Commercial Vehicles: is the weight of a fully-loaded vehicle once it has all the passengers in it.
  • Add-on Covers: that were purchased along with your insurance policy will be simply added to the premium cost payable at the time of purchase.

Two Wheeler Model

Price of the Two Wheeler

IDV*

Zero Depreciation

(Add On)*

Premium*

Honda Activa 5G

Rs. 72,929

Rs. 31,977

Rs. 38

Rs. 889

Hero Honda Splendor Plus STD

Rs. 63110

Rs. 24,462

Rs. 29

Rs. 836

Bajaj Platina 110 ES Alloy CBS

Rs. 50,765

Rs. 27,907

Rs. 33

Rs. 847

Table Data updated on 05-11-2020

*The values are calculated on the basis of the city (Bangalore) and year of registration (2020).

What is The Claim Process For New India Two-Wheeler Insurance Policy?

In case you need to file a claim due to an incident, the following steps should be taken as per the nature of the incident:

In case of accidental damage to the vehicle:

  1. Immediately intimate the details about the accident and damage to the nearest office. They will issue a Claim Form.
  2. You must fill all the details in the Claim Form and submit a copy of Registration Certification and driving license of the driver who was driving the vehicle at the time of the accident. You must also include an estimate of repairs.
  3. Your vehicle will be inspected by a surveyor who will be appointed by the insurance provider. This will be reported to the company to gauge the damage. In case of major damage caused to the vehicle, a spot survey will be held at the site of the accident.
  4. You must submit duly signed final bills/cash memos to the insurance provider.
  5. You may have to deposit the salvaged damaged parts with the insurance provider after the approval of your claim.

In case of theft of the vehicle:

  1. Lodge an FIR against the theft with the police right away.
  2. Inform the insurance provider about the theft with a copy of the FIR and duly filled Claim Form.
  3. The Final Police Report should be submitted to the insurance provider as soon as it is received.
  4. Cooperate with the surveyor and/or inspector who are appointed by the insurance company.
  5. Once your claim is approved, you must transfer the Registration Certificate in the name of the insurance company, hand over your vehicle's keys, submit a letter of Indemnity and Subrogation on a stamp paper which is duly notarized.

In case of liability claim:

  1. You must inform the insurance company immediately in case of any incident that leads to a liability claim.
  2. You must send the receipt of summons from Court to the insurance company as soon as you receive it.
  3. You must fill and submit the Claim Form along with the copies of Driving License, FIR and Registration Certificate.

Contact Details

In case of any support required for renewal and claim process, you can contact the support team of New India Assurance Co. Ltd. at any of the channels below:

  • Email - tech.support@newindia.co.in
  • Toll-Free Number - 1800 209 1415

Locate the Branch - You can locate the nearest office for a visit on the official website. Click on 'Locate Us' and select the 'Type of Office' you want to visit. You can also search the office by its address, city or pin code.

You can also get your queries answered by PolicyX.com's insurance experts by getting in touch with them via any of the following communication channels:

  • Email - helpdesk@policyx.com
  • Toll-Free Number - 1800 4200 269

Frequently Asked Questions (FAQs)

1. What is excluded from the two-wheeler insurance policy?

Your claim in case of the following events is excluded from your two-wheeler insurance policy:

  • Breakdown and wear and tear of your vehicle.
  • Consequential loss or damage.
  • Loss or damage when driving with an invalid driving license.
  • Loss or damage when driving under the influence of alcohol.
  • Loss or damage due to civil war, war, etc.
  • Claims that arise due to contractual liability.
  • Use of vehicle apart from the ones mentioned under 'limitations as to use'.

2. How is the IDV of the vehicle calculated for obsolete models?

The models that have been discontinued by the manufacturer have their IDVs determined on the basis of an understanding between the policyholder and the insurance provider.

3. What documents are to be submitted at the time of claim?

You must submit all or some of the following documents for your claim to be accepted:

  • Copy of Claim Intimation
  • Copy of Policy and Premium Receipt
  • Duly filled Claim Form
  • Copy of Registration Certificate of the Insured Vehicle
  • Copy of Driving License of the person driving the vehicle at the time of the incident
  • The estimated cost of repairs from the repairer and stamped receipt
  • Verification of Road Tax
  • Bills and cash memo of repairs
  • FIR or Police Panchanama
  • Fitness Certificate and Permit

4. Can I pay the amount of repair directly to the garage?

The cost of repair can be paid to the garage directly in case it is an approved garage. However, in case of any other garage, the policyholder must not pay the amount directly.

5. What is the Solatium Fund Scheme?

As curated by the Central Government of India, the victims of "hit and run" motor accident cases fall under this scheme. The victim will be eligible for a compensation of Rs. 25,000 in case of death due to the accident and Rs. 12,500 in case of grievous injury.

6. Do I have to bear any amount? If yes, what are the various aspects that must be borne by me?

Yes, you will have to bear the amount of compulsory excess. You must also bear the reasonable value of salvage in case it is not surrendered to the insurer. Cost of damage due to depreciation must also be paid by the insured vehicle owner.

7. Will my claim for theft get accepted if I accidentally left my keys on the vehicle?

No, your claim for theft of your vehicle will not get accepted considering you did not take enough precaution to safeguard your vehicle.

8. I met with an accident because of speaking on call while driving. Will my claim get accepted?

No, your claim will not be accepted if you were driving while using a mobile phone.

9. Are vehicles rateable under Class D, Tariff for Miscellaneous and Special Types of Vehicle eligible to opt for restricted cover?

No, the restricted cover is not available in case of a vehicle that is rateable under Class D, Tariff for Miscellaneous and special types of vehicles.

10. Does New India Assurance offer me to opt for higher towing charges than the standard rates?

Yes, you can opt for higher towing charges. However, these charges will subject to extra payment of premium.

Last updated on 05-11-2020