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.
|Type of Plan||Package Policy||Third Party Liability|
|Policy Period||12 months||12 months|
|Policy Types||Comprehensive cover||Liability only|
|Renewal frequency||End of policy term||End of policy term|
|Available Add ons||
|No Claim Benefit||Provided for every claim-free year. Discount ranges between 20% to 50%.|
|No Claim Benefit after Claim||NCB becomes nil||NCB becomes nil|
|Zero Depreciation Cover||Available for vehicles upto 5 years old||Available for vehicles upto 5 years old|
|Refund Facility||Not specified||Not specified|
|Policy Expiration||The policy will expire on at the end of the policy term. You may renew the policy to continue your coverage|
|Network Garage||Over 800+ network garages|
When you opt for a bike insurance policy from New India Assurance, you stand to benefit from a number of value-added features.
Assistance is provided round the clock by New India Assurance to customers all across India.
Enjoy discounts on premium for every claim-free year. You can get up to 50% of on your premiums through NCB.
You can make cashless claims at any of the garages in New India Assurance’s network.
New India Assurance provides a range of add-on options for customers to enhance the level of protection provided with their insurance plan.
New India Assurance offers two motor insurance policies which customers can choose from depending on their needs.
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.
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:
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.
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.
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.
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.
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.
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.
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:
You can buy a two-wheeler insurance policy from New India Assurance easily online.
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.
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.
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.
New India Assurance provides a customer care service round the clock to address any grievances, claim settlements, queries and complaints that customers might have.
Corporate Head Office
New India Assurance Building
87 M.G. Road, Fort, Mumbai - 400001
Yes, cashless settlements can be availed at any network garage.
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%.
The premiums for a two wheeler insurance policy depends on these factors:
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.
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.
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.
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.
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.
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.
Comprehensive two-wheeler insurance policies do not cover the following losses:
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