About New India Assurance Company
New India Assurance Company Limited is a multinational general insurance company owned by the government. It was founded and established by Sir Dorabji Tata in the year 1919. It was incorporated as the out of many General insurance companies in India right after it got national recognition in 1973. The company provides a variety of insurance products and services which include Bike Insurance, Car Insurance, Health Insurance, Travel Insurance, Marine Insurance, Business & SME Insurance, etc, to cater to all kinds of audiences from Urban India, Rural India, and businesses.
It is one of the few general insurance companies in India that holds a sturdy position in the country and has an astonishing reach for bike insurance, health insurance and many other products all over the country. It has established its headquarters in Mumbai, but is functional all over the nation with around 31 regional offices, around 447 divisional offices, 588 branches, 27 district agent branches plus 1239 micro offices all over the country. Not only in India, but it has established a customer base abroad for bike insurance and many other insurance products. It is currently operating in approximately 28 different countries all over the world.
Over the years, the New India Assurance Company has spread its wings to work for the aviation industry in addition to bike insurance and other sectors. It set up an aviation insurance department in 1946 to handle Indian shipping fleet. It has also set up training schools to generate employment and increase awareness about insurance. It is the only direct insurance company in India which has received an ‘A’ grade by AM Best. It is rated as ‘AAA/STABLE’ by CRISIL for its high-level financial strength that it proved while delivering exceptional bike insurance and related solutions.
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New India Assurance Two Wheeler Insurance FAQs
Is there any condition on buying two wheeler insurance from New India Assurance?
Yes, New India Assurance has set up the following conditions for its customers:
- The two wheeler has to be RTO registered.
- The vehicle should not be older than 15 years.
Does New India Assurance offer a discount through No Claim bonus?
A policyholder can get a handsome discount on OD premium through No claim bonus. In New India Assurance Company the policyholders can get a 20% discount on the premium for the first no claim year. Whereas, they can get a 50% discount of premium for a consecutive 5 claim-free years.
What is the scope of coverage of New India Assurance Two Wheeler Insurance plans?
The scope of coverage varies as per the type of policy. A third party Insurance policy covers the policyholder against all the legal liabilities arising due to property damage, death or bodily injuries caused to a third party by the insured’s two wheeler. Whereas a comprehensive Insurance policy covers both own-damages incurred by the insured’s vehicle in addition to third party liabilities. A standalone own-damage policy provides coverage only for damages incurred by the insured’s two wheeler.
Does my geographical zone affect my IDV?
Yes there are several factors that affect the IDV, one of them is the geographical zone. It very much depends on where you live. Your premium amount will be more if you live in an area with dense traffic because the chances of an accident will be more. Therefore, if you are living in an urban area you should be ready to pay an extra premium in comparison to people living in rural areas.
Can premium be paid online or do I need to visit the branch every time?
One does not need to visit the branch every time you need to pay a premium. The premium can be paid online using your debit card, credit card or Net banking.
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New India Assurance Company Contact Information
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This article is issued in general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.