All you need to know about Navi General Insurance

Navi General Insurance is a wholly owned subsidiary of Navi Technologies. The company was incorporated on July 5, 2016 and started its business operations in November 2017. It has more than 1.1 million customers as on December 31, 2020 and offers a variety of health, motor, property, commercial and gadget insurance solutions. Navi General Insurance inspires complete trust, assuring customers that it has their best interest at heart. In an industry where security is key, their product offerings and claims processes are fully transparent. Overall, Navi General Insurance provides customers with a sense of empowerment that comes with financial independence through a wide range of well-priced products and a seamless user experience.

Company Vision and Mission

The vision of the company is to use cutting edge technology for designing and offering its insurance products so that the products meet the demands of the new-age customer. Its mission is to simplify insurance so that every individual can enjoy the financial security which is provided by insurance plans.

Types of plans offered by Navi General Insurance

Navi Insurance offers different types of general insurance policies which are discussed below –

1. Health Insurance Plans

   Health insurance plans are those that cover the financial costs you incur if you suffer any injury or disease. Health insurance plans pay for your medical expenses, which can be considerable, and spare you the financial strain of hospitalization and medical costs. Health insurance plans can be offered as indemnity plans which cover the actual medical costs or fixed benefit plans which pay the sum insured in lump sum irrespective of the actual costs. Here is a list of all health insurance plans offered by Navi General Insurance and a brief description of each –

   Name of the plan	Brief description
   Navi Cure Plan	This is an a-la-carte health insurance plan which allows you to choose the coverage options that you need. The plan has an inbuilt extra benefit for vector-borne diseases. Coverage is available for counselling expenses, infertility and also bariatric surgeries
   Arogya Sanjeevani Policy	This is a standard health insurance plan issued as per IRDA’s directive. It allows affordable coverage which is also inclusive. Sum insured is available till INR 10 lakhs. No pre-entrance health check-ups are needed to buy the policy and modern treatments are also covered under the policy
   COCO Seasonal Byte Plan	This is a disease-specific health insurance plan which covers seasonal illnesses like dengue, swine flu, malaria, etc. The plan can be taken on an indemnity basis or a benefit basis depending on your coverage requirements
   COCO Protect Plan	This is a personal accident plan which covers accidental death and disablement. There are six types of plan variants allowing you to choose your preferred coverage
   Corona Kavach Plan	This is a COVID specific health insurance policy which offers coverage for a short term period. The policy covers all medical costs incurred on COVID treatments including home treatments
   Corona Rakshak Plan	This is also a COVID specific health insurance policy which is a fixed benefit plan. The plan pays the sum insured in a lump sum if you are diagnosed with COVID and are hospitalized for at least 72 hours
   COCO HospiCash	This policy cover with fixed amount for each day of hospitalization irrespective of the actual medical cost.
   COCO Cure Super Top Up	This is an aggregate deductible policy that allows you to enhance your sum insured as per your need at a lower cost. This provides you a wider health protection at an affordable price with tax benefit.
   COCO CritiCare	This policy covers 41 critical illness. It’s benefit base policy i.e. company will pay you one-time lump sum payment upon diagnosis.

   Navi Insurance offers different types of general insurance policies which are discussed below –

2. Travel Insurance Plans

   Travel insurance plans cover the financial emergencies that you suffer when you travel. Specific plans are available for students, senior citizens, international travel and domestic travel. There are annual trip plans too which cover multiple trips taken within a year. These plans are suitable for frequent travelers. COCO insurance offers all types of travel insurance policies to cover the financial risks you face in any type of travel that you undertake.

3. Home Insurance Plans

   Home insurance policies cover damage or destruction to your house property. These plans can be taken to cover only the structure of the house against natural and man-made damages or to cover the contents of the house against damages and theft. There are comprehensive home insurance plans too which cover both the structure of the house and its contents for an all-inclusive coverage. Navi insurance offers a comprehensive home insurance policy for homeowners which protects them against the financial risk of damage to their house.

4. Motor Insurance Plans

   Motor insurance plans are those that cover cars, and bikes. According to the Motor Vehicles Act, 1988, every car or bike in India should be insured under a valid third-party policy. As such, motor insurance plans are offered for and bikes to fulfil the legal mandate. Navi General Insurance Company offers both car and bike insurance plans for its customers. Moreover, two types of car and bike insurance plans are offered. Let’s understand these plans in detail –

Types of Navi bike insurance and car insurance plans

Both car and bike insurance plans come in three variants which are discussed below –

1. Third-party plans

   The Motor Vehicles Act, 1988 mandates third party coverage on the vehicle. This plan, therefore, is offered solely for the purpose of meeting the legal requirement of owning insurance on the car or bike. Under this plan, third party liabilities that you might suffer, in case of accidents involving third parties, are covered.

2. Comprehensive package plans

   Third-party plans fulfil the legal requirement, but they don’t provide coverage for the damages suffered by the bike or car itself. This is where a package policy makes sense. A comprehensive insurance policy covers both third-party legal liabilities as well as the damages suffered by the bike or car too.

3. Own Damage only policy

   This covers the damages suffered by the bike or car too. This policy is allowed for cars and two-wheelers that have a third-party insurance in place

Inclusions and exclusions of Navi bike insurance and car insurance plans:

The coverage which can be availed under Navi motor insurance plans are as follows –

1. Third-party liabilities suffered if an individual is injured or killed
2. Third-party liabilities suffered if an individual’s property is damaged
3. Damages suffered by the vehicle due to natural and man-made causes like earthquakes, fire, explosion, lightning, flood, etc.
4. Theft of the bike or car
5. Damages suffered when the vehicle is being transported
6. Accidental death and disablement suffered by the owner/driver of the bike/car

On the other hand, the policy does not cover the following types of damages –

1. Depreciation or normal wear and tear
2. Driving without a license, under the influence of intoxicants, outside the boundaries of India or when committing illegal acts
3. Consequential losses
4. Violation of the limitation of use of the vehicle
5. Damages due to war and allied perils

Car and bike insurance add-on covers:

Besides the coverage benefits which come inbuilt under the motor insurance policies, there are optional add-ons as well which are available with comprehensive car and bike insurance plans. These add-ons can be chosen as per your coverage needs. Each add-on incurs an additional premium, and you can choose as many add-ons as you like. Some of the commonly available add-ons include the following –

1. Zero depreciation add-on

   Depreciation is not covered under car and bike insurance plans. Thus, when a claim is made, the company deducts the depreciation from the parts of the car or bike and then pays the claim. This deduction reduces the claim considerably. If you choose the zero-depreciation add-on, depreciation is considered to be nil at the time of claim. The insurance company, therefore, pays the full claim without deducting depreciation.

2. Roadside assistance add-on

   Under this add-on, you get round-the-clock assistance from the insurance company if your vehicle breaks down in the middle of the road and you need help. You can help with a flat tyre, empty fuel, battery jumpstart and any other requirement if you are stranded due to the breakdown.

3. NCB protection add-on

   NCB is the no claim bonus which you earn if you don’t make any claim in a policy year. This bonus entitles you to a discount in the renewal premium. The bonus also increases every subsequent claim-free year. However, in case of a claim, the bonus is wiped out. If the NCB protection add-on is selected, the NCB is preserved even in case of a claim, and you can get a premium discount.

4. Return to invoice add-on

   Under this add-on, you are promised the invoice value of the car or bike if the vehicle is damaged beyond repairs or if the vehicle is stolen. This add-on, therefore, enhances the claim amount and helps you get the maximum claim for your vehicle.

5. Personal accident for pillion rider/passengers add-on

   The personal accident cover which is inbuilt under a car or bike insurance policy covers only the owner/driver of the vehicle. If the passengers suffer accidental injuries, no claim is paid. This add-on, however, covers passengers or pillion riders against accidental injuries and pays a claim in case they suffer accidental death or disablement.

6. Consumables cover add-on

   The cost of consumables like engine oil, lubricants, nuts and bolts, etc. is not covered in case of a claim. This add-on, therefore, provides coverage for such consumables and gets their cost included in the claim amount.

Benefits of Navi General Insurance car and bike plans:

The motor insurance plans offered by Navi Insurance have the following benefits –

1. Both the third party and comprehensive motor insurance plans fulfil the legal necessity of owning insurance on your vehicle. This helps you avoid legal fines and penalties
2. A car or bike insurance policy covers the financial loss you might suffer in any contingency involving your vehicle. This prevents any financial strain which you might face in case of considerable costs due to the contingency
3. You get financial security when you have a motor insurance policy in place
4. The car and bike insurance policies offered by Navi insurance are comprehensive and their premiums are affordable.

How to buy Navi bike insurance and car insurance plans?

Buying a motor insurance policy from Navi General Insurance is quite simple. You can buy the policy online from Turtlemint. The benefit of buying a Motor insurance policy from Turtlemint is that you get a choice of some of the best plans available in the market. Turtlemint is partnered with leading general insurance companies allowing you to compare different premium quotes and then choose the best. To buy online through Turtlemint, you can visit https://www.turtlemint.com/ and select ‘Car’ or ‘Bike’ whichever you want to insure. Then provide your vehicle details and you would be shown a list of quotes from the leading insurance companies. Customize the quotes with the add-ons that you need and then compare and choose the best policy. Once the policy is selected, pay the premium online and you would be able to buy the car or bike insurance policy in an instant.

How to renew Navi bike insurance and car insurance plans?

Renewal of Navi Insurance’s car and bike insurance plans is also as simple as buying the policy.

If you have bought your policy from Turtlemint, you can log into your Turtlemint account and renew the plan from there itself. 

How to make a claim in Navi bike insurance and car insurance plans?

You can register your claims under Navi General Insurance motor insurance policies by following some simple steps. These steps would not only register your claims, it would also speed up the settlement process. These steps include the following –

1. Call the company’s toll-free number 1800 123 0004 to inform the company of your claim. Register your claim and get a claim reference number. Registration of the claim can also be done by sending an email at insurance.help@navi.com, through the website of the company or through the company’s mobile application 
2. The company would inform you of its networked garages wherein you can get cashless repairs done
3. Take your vehicle to the specified garage and the insurer’s surveyor would visit the garage for survey
4. The surveyor makes and submits a claim report to the company and the company approves your cashless claim. Thereafter, repairs are done on your vehicle, and you can take delivery of the repaired vehicle after the claim is settled
5. If you take your vehicle to a non-networked garage, you have to pay for the repair costs from your pockets. Submit the repair bills to the company and the company would reimburse you for the costs incurred
6. In the case of third-party claims, file a police FIR. The motor accidents tribunal would rule the claim amount payable. The insurance company would then pay the claim as per the tribunal’s ruling
7. In case of theft of your vehicle, file a police FIR. The police would try to find your vehicle and if they are unsuccessful, they would issue a non-traceable report. Submit this report to the insurance company to get the settlement of your motor insurance claim

Alternatively, you can also get your motor insurance claims settled through the help of Turtlemint. Turtlemint’s team of claim experts ensure that you get a quick settlement of your motor insurance claims. You just need to inform Turtlemint of your claim by calling its toll-free number 1800 266 0101 or by sending an email at support@turtlemint.com. The company’s team would then contact you and follow the claim process on your behalf to get your claim settled without any hassles.

Review of Navi bike insurance and car insurance plans

Navi General Insurance Company offers comprehensive car and bike insurance plans which allow you to enjoy an all-inclusive coverage on your vehicle. In case of any contingency wherein you suffer a financial loss, the company’s motor insurance plans help you bear the loss without any strain. Moreover, the range of add-ons offered by the company help you customize and enhance the protection under your motor insurance plans. Lastly, the premiums of the policy are affordable, and the company has a dedicated claim department which helps you get your claims settled at the earliest. 

Company address and contact information

Here are the contact details of Navi General Insurance Limited if you want to contact the company for any queries, complaints or feedbacks –

• Toll-free contact number – 1800 123 0004 from 8 am to 8 pm
• Email ID – insurance.help@navi.com
• Email ID for senior citizens – seniorcare@navi.com
• Address – Corporate Office: Salarpuria Business Centre, 4th B Cross Road, 5th Block, Koramangala Industrial Layout, Bengaluru, Karnataka – 560095