New India Car Insurance
- Only direct insurer in India to be rated A-(Excellent) by AM BEST Company since 2007Check in your City
- Pan India operation with 2452 offices
- Pioneer in the non-life insurance segment for more than 40 years
- Round the clock support
About 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.
As mentioned, the company has its headquarters in Mumbai and employs (all the branches) a workforce of 17,702 professionals and 68,389 tied agents, as per the end of June 2017. It offers more than 230 products that engulf almost the entirety of the non-life insurance segment. Thanks to its robust serving mechanism and continuous strive via the efforts of highly trained employees, it is the only company to be bestowed with CRISIL’s AAA/Stable rating. Worth mentioning, New India Assurance is also the first of its kind to set up its own training school.
New India Assurance also has a subsidiary company in Trinidad and Tobago and a Representative Office in Yangon, Malaysia. Within a year of its establishment, it also successfully opened an office in London. Apart from its key operations, it is also a co-promoter of Agricultural Insurance Company of India and GIC Housing Finance Ltd.
Benefits of Car Insurance
- Apart from being a pioneer and leader in the non-life insurance sector, the company is also financially stable. Hence, there is no long-term worry of any bankruptcy, which means that your insurance policy is under safe hands
- With over 3000 offices across the nation, New India Assurance is easily accessible. This promotes efficient reach during the claim settlement process
New India Car Insurance Add-Ons
This add-on covers loss or damage to accessories equipped in the car such as stereos, fans, air-conditioners etc, which are usually excluded from a standard car insurance policy
Personal accident cover
It offers coverage of personal accident under private car policies for the owner as well as the passengers
Legal liability to employees
This add-on covers legal liabilities of a paid driver in case of an accident
Legal liability to non-fare paying passengers in commercial vehicles
This offers the coverage of non-fare paying passengers commuting in the insured car
Inclusion of Road Tax Cover
In case of complete damage (beyond repair) of the insured car, the policyholder is reimbursed of the road tax on a replacement of the insured car (coverage available up to 5 years)
No Claim Bonus Protection Cover
This add-on allow you to retain the No Claim Bonus even after a claim is filed
Return to Invoice
In case of the Total Loss or Constructive Total Loss, this add-on cover will be indemnified towards the loss of the insured vehicle with a sum assured of the invoice price (including Road Tax and Registration charges). These charges will be the difference between the IDV of the vehicle and its ex-showroom price
Nil Depreciation Cover
This add-on covers the expenses of the depreciable parts of the car in case of repair or replacement at the time of claim. However, this add-on cover can be availed on a private car aged up to 5 years
**Conditions are subjected to change depending upon the insurance company.**
New India Car Insurance Claim Process
Inform the insurance providerContact the insurance provider to initiate claim settlement process. This will be followed by filling of the New India Assurance Claim Form
Keep the necessary documentsThereafter, the company will provide the details of necessary documentation. You must ensure that all the relevant documents are available with you
Survey of the damaged vehicleIn case of accidental damage to the car, the company will arrange a surveyor for inspection, who will report to the company
Document verificationThereafter, your documents will be subjected to verification by the company for processing the claim. The documents vary depending on the type of insurance
Leave all up to the companyThe company tries to complete all the formalities within the least possible time. Claim will be rendered on the basis the policy type and coverages opted
New India Car Insurance FAQ’s
Why do I need to fill up the proposal form for buying Insurance?
A proposal form is a contract between the insured and the insurer, which contains relevant and necessary details about the insured, his past policy and his vehicle details. It is, therefore, necessary to fill in correct details in the proposal form for future reference/proof.
I have my vehicle’s registration number, how can I get my policy number?
To get your policy number, please contact the New India Assurance (NIA) office
I have purchased my policy from a Maruti dealer and I am unable to renew the policy online
Can I pay my car insurance premium online?
Yes, you can pay the premium online using any Debit/Credit card or Net Banking
What are the documents required to file a claim with New India Car Insurance?
Documents to be submitted at the time of filing a claim are :
- Document such as claim intimation received by the insurer
- Copy of policy and receipt of payment of premium
- Completed claim form
- A copy of the driving license
- Certificate of registration of the vehicle
- An estimate of repairs and a stamped receipt from the repairer
- Bills of repairs that have already been done at approved garages
- Road tax verification
- Copy of Police FIR along with the original (for verification)
- Fitness Certificate, etc.( in applicable cases)
What is the coverage provided under the Solatium Fund Scheme?
The scheme was introduced by the Central government to compensate for the ‘Hit and Run’ victims. In case of death, the compensation amount in Rs 25,000 and for serious injuries, the amount is Rs 12,500
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