New India Car Insurance

New India Assurance Company Ltd is a public sector general insurance company, headquartered in Mumbai, Maharashtra. It operates both in India and foreign territories like the UK, Mauritius, New Zealand, Thailand, the Philippines and others. The company has also worked in collaboration with some of the leading public sector banks of India and a few Financial Institutions to expand its network of distribution for its products.

The company was founded in 1919 by Sir Dorabji Tata and was later nationalised in 1973. Until 1999, it operated as a subsidiary of the General Insurance Corporation of India (GIC) but became autonomous when GIC became a re-insurance company as per the IRDA Act 1999. It is the largest general insurance company of India on the basis of the gross premium collection (inclusive of foreign operations). Moreover, it has also been leading the non-life insurance sector in India for more than four decades and also leads in some of the international markets.

The general insurer offers more than 230 insurance products that engulf almost the entirety of the non-life insurance segment. These include car insurance policies, two-wheeler insurance policies, health insurance policies, travel insurance policies, rural insurance policies, marine insurance policies, etc. Thanks to the robust serving mechanism and continuous strive via the efforts of highly trained employees, New India Assurance is the only company to be bestowed with CRISIL’s AAA/Stable rating. Worth mentioning, the insurer is also the first of its kind to set up its own training school.

New India Car Insurance

The New India General Insurance Company offers all types of car insurance policies namely third-party car insurance policies, standalone own-damage car insurance policies, as well as comprehensive car insurance policies. With these policies, liability is covered for an unlimited amount in respect of death or injury and damage to third party property and coverage is offered for loss or damage to the insured car and its accessories due to fire, explosion, self-ignition or lightning, burglary, housebreaking or theft, riot and strike, landslide, earthquake, flood, cyclone, and so on.

Along with standalone own-damage and comprehensive car insurance policies, one can also opt for add-on cover(s) as per their own requirement such as engine protection cover, return to invoice cover, road tax cover, personal belongings cover, zero depreciation cover, and so on. Car insurance policies offered by New India Assurance offer wide coverage at affordable car insurance premiums thereby making them a preferred choice by the customers. In addition to these, No Claim Bonus discount is available on renewal of policy, ranging from 20% to 50%, depending upon the type of car and the number of years for which no claim has been made.

Significant Points of New India Car Insurance