Overview of New India Assurance Two-wheeler Insurance Plans

 These days, two-wheelers are not just bought as a status symbol but are more a comfort commute option when it comes to travelling. Having a bike saves a lot of time and effort which is why in recent years, the number of bikes on the road has increased and kept in mind the security of riders, it has been made mandatory for all the bike owners to have a two-wheeler insurance policy. New India Two-wheeler Insurance policies are one of the most comprehensive insurance policies which provide an all-round insurance solution for two-wheelers.

New India two-wheeler insurance is a product of New India Assurance Co. Ltd which was founded by Sir Dorabji Tata. This multinational insurance company runs its operations in 28 countries for someone who is planning to buy a bike, New India two-wheeler insurance offers a large array of benefits and insurance options. Due to its exceptional services, the New India Assurance has won many awards and is expanding its avenues with global business records increasing every year. New India also masters the sector with insurance policies for marine, travel, commercial vehicle, health, and rural insurances and other sectors.

Key features and benefits of New India Assurance Bike Insurance Plans

New India two-wheeler insurance gives protection against natural disasters, accidents, theft and fire, man-made loss to vehicle, or third party liability arising, etc to the insured

Features:

The following are the key features and benefits of New India bike insurance which makes it the right choice for someone who is looking for, to buy bike insurance.

  1. Quick and easy settlement of claims: New India assurance offers an easy and quick claim settlement with efficient management for the settlement process.
  2. Third-Party liability covers: New India assurance provides for third party cover in case of damage, injury or death of the third party up to Rs 1 lakh and also provides accident cover for the driver or the owner.
  3. Compensation guaranteed: The New India Assurance gives guaranteed compensation if the insured two-wheeler is damaged in an accident or is robbed.
  4. Comprehensive coverage: New India bike insurance cover gives comprehensive coverage to the insured through basic two-wheeler coverage and accident coverage. It also provides coverage of up to Rs 1 lakh for the passenger travelling along with the driver.

Benefits:

Along with these key features, New India two-wheeler insurance policy comes with a handful of benefits.

  1. Excellent customer services: New India provides excellent customer services which make the user experience not just better but exceptional. Making the claim settlement easy for customers and helping them out at every step, gives New India an extra advantage over others.
  2. Round the clock claim support: The support team of New India Insurance is available round the clock to assist the users and solve their problems regarding the policy or the insurance claim.
  3. Providing cashless garage services: New India also provides for services like a garage, in case the insured bike requires repair due to damage during the journey. The repair cost for the damaged bike is also borne by New India Assurance.
  4. Flexible payment: New India bike insurance gives various payment options to its clients for paying insurance premiums. Easy payments through wallets, credit-debit cards, e-banking, etc are available.
  5. Easy claim redressal: Users can reach out to customer care by calling on their toll-free numbers and writing to their support system at their email address.
  6. Trouble-free renewal: In a short span of time, users are able to renew their insurance policy with New India Assurance. Easily possible, even on mobile phones, New India provides online options for faster renewal of insurance.
  7. Discounts: New India also gives discounts to users who do not miss paying premiums, non-claimers and to members of the Automobile Association in India.

Plans offered by New India two-wheeler insurance

New India two-wheeler insurance offers comprehensive plans for bike insurances which provide several coverage benefits.

New Insurance Assurance Two Wheeler policy: 

The Motor Vehicle Act, 1988 has made it mandatory for vehicle owners to have an insurance plan keeping in mind the safety of riders. This New India Assurance policy protects the policyholder from third-party liability and safeguards the insured from losses incurred due to man-made and natural disasters.

This plan provides two types of cover:

  1. Package policy for damage or loss of vehicle insured
  2. Liability only policy where third party liability is covered for injury or death or damage to property of the third party and also of the driver.

Coverage and Exclusions under New Insurance Assurance Two Wheeler policy:

The New India insurance two wheeler policy provides the following coverage to the insured.

  1. New India Assurance Two-wheeler liability-only policy

    This provides protection against the liability arising due to third party damage or loss of life or property. This cover compensates for the loss to the third party. This policy provides a hassle-free settlement of claims and flexible coverage terms.

  2. New India Assurance Two-wheeler package policy

    This is the extension to the policy along with third-party liability where damages from accidents, fire, theft, burglary, riots, strike, housebreaking, terrorism, etc and natural disasters like flood, earthquake, storm, cyclones, tempest, etc are covered. The additional coverage includes:

    1. Invoice cover returns: If the two-wheeler gets lost, New India insurance provides safety towards financial loss and the insured gets the entire sum of the amount insured without any deductions
    2. Cover for consumables: New India insurance is the only company that provides coverage for ball bearings, nuts, etc.
    3. Zero-dep cover: New India bike insurance provides zero depreciation coverage for bike and bike parts are paid without any depreciation. All the replacements are covered under the policy
    4. Medical coverage: This policy also provides medical coverage and financial aid for injuries incurred due to accident and overcome the aftershocks of an accident
    5. Coverage for accessories: The New India two-wheeler insurance also provides coverage for fancy accessories of the insured bike. Recovery for damage to the extra installed accessories is also covered under the policy
    6. Accident cover driver/owner: A sum of Rs 1 lakh is paid under the policy cover to the driver/owner in case of permanent disability or to the beneficiary in case of death. 100% of the sum insured is compensated in case of death and loss of sight and loss of two limbs or one eye and one limb and for permanent disability. 50% is compensated for the loss of one limb and one sight

Exclusions under New Insurance Assurance Two Wheeler policy:

The New India two-wheeler insurance has some exclusion policy as well, under which the claim will not be entertained to the insured.

  1. Damaging the vehicle and driving without a valid driving license: The policy does not compensate for any loss caused due to damage by rider riding the two-wheeler without a valid license.
  2. Damage caused after consuming alcohol and drugs: No compensation will be given to the policyholder if the damage is caused due to the influence of drugs or alcohol.
  3. Mechanical and electrical fail
  4. Loss due to mutiny, war or nuclear risk: No compensation is given if the damage is caused as a result of war, radioactive attacks, bombing, etc.
  5. Wear and tear
  6. Loss due to consequential circumstances
  7. Loss when the vehicle is used for purposes other than a limitation: If the vehicle is used for any purpose other than mentioned and is damaged, no compensation will be given by the insurance company.

Add – on covers available under New Insurance Assurance Two Wheeler policy

  1. Road Tax cover: This Add-on feature covers the road tax to be paid in case the bike needs to be replaced.
  2. Zero depreciation: New India Assurance provides for coverage on the depreciation of metal, fibre, plastic, rubber parts, etc. This cover is available up to the age of 5 years. 
  3. Engine Protect coverage: The insurance gives protection against loss to the engine and other parts. 
  4. Personal Loss: In case the insured suffers the loss of any personal belonging, this add-on cover provides coverage up to Rs 20,000 or a maximum of 20% of the sum assured. 
  5. Towing charges: The policy also reimburses towing charges above Rs 300 which is provided in the base plan. 

How to buy New India Bike insurance plans?

You can buy New India Bike insurance plans both online as well as offline. To buy New India Bike Insurance Plans offline, you need to look for a New India Assurance motor insurance advisor and buy the same from him. Alternatively, you can visit the company’s registered office that is near your home and buy the policy directly from there.

The online mode of buying New India BikeInsurance plans is much simpler and way more convenient. In order to purchase the plan online you can choose the company’s website and buy the policy directly or you can buy through Turtlemint.

Turtlemint is an online website which allows you to choose the best bike insurance plan from the options available. The company has a tie up with New India Assurance and you can buy bike insurance plans online. 

You can also compare New India Assurance policy with other leading two-wheeler insurance plans and then buy it. To buy online through Turtlemint, you can take the following simple steps –

  1. Visit https://www.turtlemint.com/two-wheeler-insurance and provide the registration number of your bike
  2. You can also buy a policy without the registration number if you mention the place of registration and the purchase year
  3. Thereafter, you would have to provide the details of your bike which include the following-
    1. The make and model
    2. Manufacturing year
    3. Fuel variant
    4. Bike variant
    5. Details of the last policy (if it is old)
    6. Type of last policy
    7. Claim history in the last policy
    8. Name of the last insurance company
  4. You can then view the available plans, their coverage benefits and corresponding premiums
  5. You can compare and choose the best bike insurance policy and buy it online right from the same page

How to renew New India Bike Insurance policies?

Renewal of your New India Bike Insurance policy can also be done online through the company’s website or through Turtlemint. To renew from the website of the company, you would have to choose ‘Renew’ on the home page. You would then have to provide your policy number and the expiry date. After the details are provided, you can check the status of your existing policy and renew it online by paying the renewal premium.

Turtlemint also allows easy renewals of your New India motor insurance policies. If you are an existing customer of Turtlemint you can simply log into your account and renew the policy from there. You would have to pay the renewal premium online and the policy would be renewed instantly. Turtlemint also allows you to compare between other bike insurance plans at the time of renewals so that you can choose another policy if it offers better terms and conditions. 

The claim process for New India two-wheeler insurance plans:

The claiming process for New India two-wheeler insurance is simple and generally takes a few steps to complete. For different claims, the process has been defined in steps below along with the documents required for the insurance claim. 

  1. Accidental claims:

    1. You need to contact New India Assurance at their toll-free number 18002091415
    2. File the claim form and duly sign and fill details 
    3. Have a handy copy of the driving license, policy document, and RC book
    4. Copy of FIR if required
    5. Repair bill, original
    6. Invoice receipt if availed cashless service 
    7. For reimbursement submit original invoice, receipt and estimated bill
  2. Theft Claim:

    1. You need to contact New India Assurance at their toll-free number 18002091415
    2. File the claim form and duly sign and fill details 
    3. Produce original keys, copy of RC book, policy document and driving license
    4. Copy of the FIR 
    5. Signed form 28, 29, 30 and 35
    6. Confirmation from the police with ‘No trace report’ for the insured vehicle 
    7. Surveyor will be appointed 
    8. If the claim is approved, provide and transfer registration certificate, letter of subrogation and indemnity on notary stamp paper.
  3. Third-party claim
    1. You need to contact New India Assurance at their toll-free number 18002091415 and intimate about the accident or incident because of the liability claim
    2. Inform about the court summons, if any 
    3. File the claim form and duly sign and fill details 
    4. Submit driving license, registration certificate and a copy of the FIR 

Most Important Steps to easily claim New India bike insurance plans:

  1. You need to intimate your insurer 
  2. Take appointment from the surveyor and take the vehicle to authorized garages of New India Assurance for repair or other cashless services of the vehicle. 
  3. Try and opt for cashless services and options. If not, submit the original bills for reimbursements

Alternatively, you can also avail claim settlements through Turtlemint. If you bought your New India bike insurance policy through Turtlemint, you can inform Turtlemint and the company would then help you in getting your claims settled. Turtlemint has a claim handling team which handle the claims of their customers. You can get in touch with the company’s team of claim experts through their number 1800 266 0101 or post an email to the claim team at their ID claims@turtlemint.com. Once the team is informed of your bike insurance claim, they would take up the claim process on your behalf and coordinate with the insurance company to get the claims settled.

Renewal of New India Assurance Two-wheeler Insurance Plans

  1. The renewal process for New India two-wheeler insurance

    Renewing the New India two-wheeler insurance policy is easy and very simple. It can be done following these simple steps 

    1. Log in to New India Assurance website 
    2. Select ‘Two-wheeler’ or ‘buy online’ from the product tab
    3. Enter details of the bike like the model, make, the nearest city of purchase 
    4. Enter contact details and click ‘calculate premium’. 
    5. Details about the premium to be paid will be displayed
    6. If okay, click on purchase to renew the policy
    7. Once the payment is done, the policy will be emailed to the user.
  2. Documents required to renew the policy

    The documents required for buying or renewing the New India Insurance policy are 

    1. Name, Date of birth, address, gender and occupation and proof of identity 
    2. Driving license
    3. Vehicle registration certificate and number 
    4. Old insurance policy
    5. Recent photographs

New India Assurance Bike Insurance Plans