New India Two Wheeler Insurance - Compare Quotes and renew policies online

The Government of India made it mandatory for all vehicles to have a third-party liability policy under the Motor Vehicles Act, 1988. New India Assurance offers an insurance policy that can be purchased easily online. Two-wheelers reduce the time commuting in a busy city and therefore are a preferred mode of transport by many people in India. But with so many two wheelers on the road, it is important to be protected against financial liabilities that might arise out of accidents. Having a valid motor insurance policy is the best way to be prepared to meet such contingencies.

Features And Benefits Of New India Assurance Two Wheeler Insurance

Reasons To Choose New India Assurance Bike Insurance

When you opt for a bike insurance policy from New India Assurance, you stand to benefit from a number of value-added features.

• Easy Claim Settlement

  Assistance is provided round the clock by New India Assurance to customers all across India.

• No Claim Bonus

  Enjoy discounts on premium for every claim-free year. You can get up to 50% of on your premiums through NCB.

• Cashless Claims

  You can make cashless claims at any of the garages in New India Assurance’s network.

• Add Ons

  New India Assurance provides a range of add-on options for customers to enhance the level of protection provided with their insurance plan.

 

Two Wheeler Insurance Plans Offered By New India Assurance

New India Assurance offers two motor insurance policies which customers can choose from depending on their needs.

Liability Only Policy

This policy covers only death, injury or damage caused to a third party. Under this policy, if death or injury is caused to a third party, there is no limit on the amount covered. For damages to a third-party property, then Rs.7.5 lakh is the maximum limit covered under private and commercial vehicles. For two wheeler insurance policies, only Rs.1 lakh will be covered if damage is caused to third party.

Package Policy

By opting for this plan, you can be insured in the following instances for damage to your own vehicle and its accessories along with third-party liabilities:

• Damage or loss caused by natural calamities
• Damage or loss caused by manmade calamities
• Personal Accident Cover
• Third-Party Legal Liability

This plan carries the benefits of cashless claims if you avail the services of a network garage. You can also benefit from No Claim Bonuses upon renewal if you do not make a claim during the policy term. Apart from this, you will be eligible for up to Rs.300 for towing charges.

Coverage Offered Under New India Assurance Bike Insurance

If you buy a liability-only policy, you will be covered against expenses incurred if you cause damage to a third party or their property. If you choose a package policy, then you will receive benefits against damages to your own vehicle and self. Depending on the policy you have chosen, your coverage will vary.

• Third-party liability

This coverage is provided under both plan options. If you cause any accidental damages or loss to a third party, the insurance company will pay for any legal liabilities as per the provisions of the plan. Any expenses related to accidental death, permanent injury or damage to property of a third party will be covered.

• Loss or damage to own vehicle due to manmade disasters

The 2 wheeler insurance policy will also cover certain manmade disasters. These include accident by external means, theft, burglary, riot, strike, terrorist activity, any malicious act, any damage in transit by air, rail, road, rail, inland waterway, lift, or elevator.

• Loss or damage to own vehicle due to natural calamities

The natural calamities covered include fire, explosion, hurricane, tempest, cyclone, self-ignition or lightning, typhoon, earthquake, storm, frost, inundation, hail storm, flood, landslide and rockslide. If your vehicle is damaged or lost completely due to natural events, the insurance plan will pay out a benefit to cover expenses or losses.

• Optional Add-on cover

  • Nil Depreciation Cover - Customers do not have to bear depreciation on metal, plastic, fiber and rubber parts, which usually ranges between 5% and 50%. This enhancement cover is available for vehicles up to the age of 5 years.
  • Inclusion of Road Tax cover - In the event that the bike needs to be replaced, this add-on will protect the customer from bearing the Road Tax.
  • Return of Invoice - For vehicles up to the age of 3 years, this cover is available. This add-on protects the insured from the difference between the IDV stated in the policy and the dealer’s listed selling price as on the date of the accident on the same make and model.
  • NCB Protection - With this cover, even in the event of a claim, the customer can aval the next slab of NCB. Up to 2 admissible OD claims are allowed during the policy period.
  • Engine Protect Cover - Customers can be protected against consequential losses caused to the engine and its parts.
  • Additional Towing Charges - Get a reimbursement of towing charges over and above the standard Rs.300 provided under the base plan.
  • Loss of Content Cover - If the customer loses personal belongings in an accident, this add-on will provide protection for up to Rs.20,000, subject to a maximum of 20% of the sum assured.

Exclusions In New India Assurance Two Wheeler Insurance

There are certain exclusions applicable under a 2 wheeler insurance policy from New India Assurance. Under these particular circumstances, the insurer will not be liable to pay any benefits to the policyholder.

• Consequential loss
• Damage caused by a person riding without a valid driving licence
• Damage caused by a person riding under the influence of alcohol or drugs
• Wear and tear of the two-wheeler
• Electrical or mechanical breakdown
• Loss or damage due to war, nuclear risk or mutiny
• Vehicles used for purposes other than in accordance with the limitations of use

Eligibility To Buy New India Assurance Bike Insurance Online:

Any 2 wheeler owner can avail a motor insurance policy from New India Assurance if the vehicle is registered in his/her name with the Regional Transport Authority of India. In addition to this, New India Assurance might take into consideration the following factors:

• Vehicle age - Vehicles up to the age of 15 years can be insured.
• Driver details - The person who will be using the vehicle must be of legal age to ride and have a valid license.
• Fitness certificate - The vehicle might need a fitness certificate, especially if it is an old bike.
• Inspection - Depending on the vehicle, an inspection by a representative of New India Assurance might be required.
• Modifications - Some insurance providers might be reluctant to insure a vehicle with modifications, or might provide insurance at a higher premium.
• Payment - Depending on the plan chosen, a premium amount will have to be paid to avail the policy.

Steps To Buy New India Assurance 2 Wheeler Insurance Policy Online:

You can buy a two-wheeler insurance policy from New India Assurance easily online.

• Log on to the New India Assurance official website.
• Choose “Buy Online” or “Two-wheeler” under products.
• You will see an option to enter the details of bike.
• Enter the make, model, and nearest city of purchase or registration.
• Enter your contact details.
• Click on “Calculate Premium”.
• You will be given the details of how much premium you need to pay in order to be insured for the ideal IDV (Insured Declared Value).
• If you are satisfied with the price, you can go ahead and purchase the policy.
• Once you make the payment, the policy will be issued.

How To Make A Claim From New India Assurance General Insurance?

Liability Claim

• You need to intimate the claim immediately to New India Assurance. Inform them of any accident or incident that might give rise to a liability claim.
• If you receive a summons to court, you need to send it to the insurer immediately.
• Fill up a claim form and submit it along with the following documents to New India Assurance:

• Registration certificate
• Driving licence
• FIR

Theft of vehicle

• File an FIR with the police as soon as possible.
• Contact your policy-issuing officer and provide him with a copy of the FIR.
• When you receive the Final Police Report, submit it to the insurer.
• A surveyor or investigator will be appointed.
• Once the claim is approved, you will be required to transfer the Registration Certificate of the vehicle to New India Assurance, submit a letter of Subrogation and Indemnity on stamp paper that has been duly notarized. You will also have to hand over the keys of the vehicle.

Accidental Damage Claim

• Intimate the claim to the nearest New India Assurance branch.
• A claim form will be issued which you need to fill in.
• Submit the form along with the following:
  • Copy of Registration Certificate
  • Copy of Driving Licence of the driver of the vehicle at the time of accident
  • Estimate of repairs
• A surveyor will be appointed to investigate and report back to the insurer.
• If the vehicle has major damage, then a spot survey at the accident site will be arranged.
• The insured needs to submit any bills and cash memos.
• Salvage of damaged parts might need to be given to New India Assurance once the claim is approved.

Renew New India Assurance Two Wheeler Insurance Online In A Few Simple Steps

When you renew your policy on time, it is hassle-free and much simpler. Once the policy expires, renewal might require additional inspections and other information before the insurer is satisfied to give you a policy. Renewing your policy can be done in a few simple steps.

• Log on to the New India Assurance official website.
• Choose “Buy Online” or “Two-wheeler” under products.
• You will see an option to enter the details of bike.
• Enter the make, model, and nearest city of purchase or registration.
• Enter your contact details.
• Click on “Calculate Premium”.
• You will be given the details of how much premium you need to pay in order to be insured for the ideal IDV (Insured Declared Value).
• If you are satisfied with the price, you can go ahead and purchase the policy.
• Once you make the payment, the policy will be issued.

Why Deductible Is Important In A New India Assurance Two Wheeler Insurance Plan?

Your insurer might mention a deductible when you avail an insurance plan for your two wheeler. A deductible is simply an amount you are willing to pay in the event you incur costs in an accident involving your two wheeler. The insurance provider will be liable to pay for the remaining amount. For example, if you opt for a 10% deductible, then the insurer will only pay 90% of the cost, to the extent of the sum assured. You will be liable to pay for 10% of the damages caused to your vehicle or a third party. A higher deductible will lower your premiums, but this will also mean that in case of an accident, you will be liable to pay a higher amount. Choosing a lower deductible will increase your premiums, but at the time of claiming insurance, New India Assurance will pay a higher amount.

What To Do If Your New India Assurance Bike Insurance Plan Expires?

It is mandatory to have an active motor insurance plan as per the prevailing motor laws of India. Furthermore, it is unsafe to ride your bike without a valid insurance policy. In the event of an accident, you might incur high costs in damages to your own vehicle and to third-parties involved, including any damages to surrounding property. A valid insurance policy will help you take care of the expenses. If you have missed the renewal date and your policy has lapsed, there are a few things you can do to remedy the situation. If you wish to renew a lapsed policy, you will need to contact New India Assurance customer care and find out what options are available. Alternatively, you can purchase a fresh policy.

• Log on to the official New India Assurance website.
• Choose to purchase a new policy.
• Enter your details and calculate your premiums.
• If you are satisfied with the cost of the plan, you can make the payment.
• Once the premium is paid, the policy will be issued.

New India Assurance Two Wheeler Insurance Customer Care Service:

New India Assurance provides a customer care service round the clock to address any grievances, claim settlements, queries and complaints that customers might have.

• Toll-free hotline - 1800-209-1415
• Email - tech.support@newindia.co.in
• Address

Corporate Head Office

New India Assurance Building

87 M.G. Road, Fort, Mumbai - 400001

New India Assurance Two Wheeler Insurance Frequently Asked Questions:

1.Does New India Assurance provide cashless settlements?

Yes, cashless settlements can be availed at any network garage.

2.What is a No Claim Bonus?

If you do not make a claim in the year, you will be entitled to receive a discount on your renewal premium. This is called No Claim Bonus. The bonus increases with every claim-free year but is subject to a maximum of 50%.

3.How much premium do I have to pay to avail a two-wheeler insurance policy?

The premiums for a two wheeler insurance policy depends on these factors:

• Insured's Declared Value (IDV)
• Age of the vehicle
• Cubic Capacity of the vehicle
• Geographical Zones
• Add-on coverage

4.How do I know if the garage I’ve chosen is a network garage?

New India Assurance provides a list of network garages on its official website. You can also contact the customer care for assistance to find out if the garage is within the New India Assurance cashless network.

5.What is Solatium Fund Scheme?

This scheme was set up by the Central Government of India to ensure that families of hit-and-run cases receive compensation. In the event of death, Rs.25,000 is paid. For other injuries, Rs.12,500 is payable.

6.What is the term of a two-wheeler insurance policy?

Third-party liability two-wheeler insurance policies and comprehensive two-wheeler insurance policies are annually renewable. The multi-year two-wheeler insurance policy provides coverage for a duration of 2 or 3 years. However, from 1 September 2018, all new vehicle buyers are required to purchase third-party liability insurance policies for a 5-year duration. New vehicle owners can also choose to purchase a package two-wheeler insurance policy that provides a 1-year own damage cover and 5-year third-party liability insurance cover or a bundled two-wheeler insurance policy that provides an own damage cover and third-party liability insurance for 5 policy years. Thus, the term of your policy will vary based on when you purchased your vehicle.

7.I recently met with an accident and my vehicle sustained minor damages. Should I raise a claim?

Insurance companies offer a No Claim Bonus to policyholders who don’t raise claims during the policy term. The No Claim Bonus can help you receive a significant discount on your premium payable. Thus, it is advisable to not raise small claims. However, if your vehicle has sustained major damages, you should immediately contact your insurer.

8.Why should I opt for a comprehensive two-wheeler insurance policy and not the more affordable third-party liability insurance policy?

While the Motor Vehicles Act, 1988 has only made it mandatory for prospective policy buyers to purchase the third-party liability insurance cover, it is recommended that you purchase a comprehensive two-wheeler insurance policy if you wish to receive enhanced coverage. Comprehensive two-wheeler insurance policies will provide you an own damage cover, in addition to the personal accident cover and third-party liability insurance cover. Further, you can also customise your comprehensive two-wheeler insurance policy with riders/add-ons offered by the insurer.

9.What is constructive total loss?

If the cost of repairing your two-wheeler amounts to over 75% of the Insured Declared Value of your two-wheeler, it will be termed as a constructive total loss.

10.What losses or events are not covered by a comprehensive two-wheeler insurance policy?

Comprehensive two-wheeler insurance policies do not cover the following losses:

• Mechanical or electrical breakdown
• Consequential loss
• Wear and tear of the vehicle
• Depreciation
• Deliberate accidental loss
• Contractual liability
• Damages caused while riding without a license
• Damages caused when riding under the effects of alcohol or drugs