New India Car Insurance Premium Calculator or Estimator - New India Assurance Company Limited is a wholly owned subsidiary of Indian Government and is a multinational insurance contributor present in 27 countries and a market leader in the non life insurance sector in India based from Mumbai. Strong domestic and international presence, a wide range in insurance plans, effective and advanced technology, integrated complaint management structure are some of the keys to the company’s success. And last but not the least New India Assurance is the only insurer who is considered as the direct insurer in India.
Car is treated as another precious asset after home and thereby protecting the same from all dangers and risks become necessary. Car Insurance is mandatory as per The Motor Vehicles Act and one must avail the same for full protection against any unforeseen event. One cannot predict accident and with the increasing number of vehicle these days, chances of accidents have also increased. The expenses can go really high when it comes to accidents and not only this the risks and danger increases, even more, when the same is linked to any third party which can take anyone to court, thereby making both financial as well as mental struggles very difficult. In such a scenario, the car insurance plans play the most important role which provides full protection against the financial burden and third-party risks and damage or loss/death. Without a car insurance plan, any individual will not be in a position to meet the financial requirements and legal obligations.
New India Car Insurance Premium Calculator or Estimator - New India Car Insurance covers both the own damage as well as the third party damage like any other good car insurance plan. And on paying certain extra payments, one can also enjoy certain additional covers for the passengers present at the time of the accident and also for the paid driver and the employees, etc. The plan covers the vehicle from the natural calamities like flood, earthquake, cyclones, etc. and man-made incidents like theft, burglary. Attractive discount features are also there for members of anti-theft device as well as a vintage car and Automobile Association Member. Like any other insurance company, New India Assurance also has inclusions and exclusions on which the company will see and then process any claim as and when required. Policies can be renewed online or by just walking into any one of the branches. New India Assurance, a very trusted general insurance company provides an all-round car insurance plan which provides almost all kinds of coverage which are needed to protect the vehicle from the risks and dangers associated with the accidents.
Features |
Coverage and Benefits |
Third Party Coverage: |
Up to Rs.7.5 lakhs |
Incurred claim ratio: |
91.26% |
Personal Accident Insurance: |
Yes |
Network Garages: |
Yes |
No Claim Bonus |
Yes |
New India Car Insurance Premium Calculator or Estimator - Although one can buy a car insurance plan because it is legally mandatory, it’s always better to buy a good car insurance plan that will cover all the eventualities.
New India Assurance offers complete car insurance plans which protects vehicles from such eventualities.
This New India Car Insurance covers all types of vehicles which include Private Cars, scooters & motorcycles, all types of commercial vehicles, and motor trade which means vehicles which are in showrooms and garages.
Basically there are two types of plans which are available which are:
Now let’s have an overview of each plan:
The main features of this New India Assurance plan are:
Liability is covered for an unlimited amount with respect of death or injury and damage to third party property for Rs 7.5 lakhs under Commercial Vehicle and private and Rs 1 lakh for Scooters/ Motor Cycles.
Package Plan.
New India Car Insurance Premium Calculator or Estimator - This New India Car Insurance plan covers the loss or damage to the insured vehicle and its accessories caused due to the following reasons which are as under:
This New India Car Insurance plan covers the towing charges as well from the place of incident to the garage or the workshop to the tune of Rs 300/- for Scooters/ Motorcycles and Rs 1500/- for cars and commercial vehicles. One can pay an extra premium and go for higher towing charges.
New India Car Insurance Premium Calculator or Estimator - Standalone Compulsory Personal Accident protects the owner/driver while driving the car including mounting or dismounting from or travelling in the four-wheeler as a co-driver. The coverage limit is up to Rs. 15 lacs and the policy duration is 1 year.
Upon paying the extra premium, one can get the following covers from New India Assurance Company:
Any individual who owns a vehicle and is registered under his /her name with the Regional Transport Authority in India can apply for motor insurance plans.
New India Car Insurance Premium Calculator or Estimator - IDV or the Insured Declared value is the Sum Insured of a vehicle. In case of theft or where the vehicle is totally damaged and is beyond any repairs, the claim amount depends on the basis of the IDV. The IDV is derived from the producer’s selling price of a car of similar specifications and from this value; the relevant amount of depreciation is deducted based on the age of the vehicle. IDV of vehicles which are beyond 5 years of age and are treated as obsolete models, there the IDV is to be determined on the basis of the consideration between the insurer and the insured.
A Rating under the New India Car Insurance Policy
The Rating depends on the following factors:
New India Car Insurance Premium Calculator or Estimator - Premiums are dependent on the age of the car, city where the vehicle is registered, engine capacity. In case of own damage, premiums are set as per the sum insured of the insured motor vehicle. In case of third party damage, premiums are set as per the schedule mentioned in the Motor Vehicles Act, 1988.
The processes of New India Car Insurance claim for the plans are classified into three categories for the ease of the individuals:
Now let’s have a look at the step by step process:
Documents which are to be submitted at the time of registering a New India Assurance Insurance claim are as under:
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