Now you can protect your bike with New India Assurance bike insurance plans. New India Assurance offers comprehensive two-wheeler insurance policy, road safety insurance, third-party property damage policy, personal accident cover, etc.
The insured vehicle will get all the coverage under the two-wheeler policy like third-party liability, repair bills, cashless facility, NIL depreciation, etc. So, let’s learn in detail about online New India Assurance bike insurance premium, two-wheeler insurance claim, and so many more here.
Brief Detail On New India Assurance Bike Insurance Plan
The New India Assurance Company Limited is among the most trustworthy two-wheeler insurance companies available in India right now. It provides 3 types of bike insurance policies to secure the insurance holder financially against damages and losses to their vehicles. The Indian Government owns and operates the new India Assurance company to provide these benefits to the policyholder.
Sir Dorabji Tata established this New India Assurance in 1919. It is a large general insurance company. This government-owned business provides a variety of insurance-related goods and services, including two-wheeler insurance.
You can safeguard your bike against liability from third parties and unneeded costs resulting from unintentional damages with New India Assurance’s two-wheeler insurance.
New India Assurance Bike Insurance Policy Types
There are 3 different kinds of bike insurance policies that you can purchase from New India Assurance Corporation. Here are the plans
Third-party Two-Wheeler Insurance Plan:
It’s mandatory to have at least third-party insurance for every bike in India as per the Motor Vehicles Act 1988. This insurance plan will handle all your third-party liabilities if an accident including death, bodily injury, and third-party property damage.
Bikes caught without a third-party insurance plan can be penalised with a penalty of INR 2,000 or/and imprisoned for around 3 months. So, make sure you have at least third-party insurance for your vehicle.
Comprehensive Two-Wheeler Insurance Plan:
Comprehensive Two-wheeler Insurance is a policy that offers coverage for both standalone own-damage and third-party coverage. Nevertheless, the premiums of Comprehensive Two-wheeler Insurance are comparatively more than the additional 2 bike insurance styles.
Standalone Own-Damage Two-Wheeler Insurance Plan:
To protect your two-wheeler from casualties you can get insured under the standalone own-damage plan. A Standalone Own-damage two-wheeler Insurance will pay your insured vehicle if an act of vandalism, a road accident, fire, theft, or manmade and natural calamities.
Key Features Of Bike Insurance From New India Assurance
Here are some key features of the New India Assurance company for bike insurance.
- Fast Claim Settlement Process: Offers hassle-free and easy claim settlement process
- Third-Party Insurance Coverage: Provides third-party insurance coverage for bodily injury or death of a third party, third-party property damage up to 1 lakh, and owner-driver coverage for personal accident
- Personal Accident + Basic Coverage for Passenger(s): Provides basic bike insurance coverage and personal accident coverage for 1 lakh for your co-passenger
- Guaranteed payment settlement: *Offers guaranteed settlement in case your bike is damaged or robbed in an accident
Benefits of Buying New India Bike Insurance
Bike insurance policies are offered by numerous two-wheeler insurance providers. New India Assurance Company is among the many renowned bike insurance companies in India. Below is a section that highlights some of the advantages the business has to offer:
High Ratio Of Claim Settlement:
The claim settlement ratio for New India Assurance is quite high (92.23%). As evidenced by the company’s high claim settlement ratio, bike insurance claims are successfully resolved. Additionally, the organization offers its policyholders round-the-clock help.
New India Assurance also provides several add-ons that can further expand the scope of your two-wheeler insurance plan’s coverage. Personal accident cover, accessory cover, and other add-ons are among the options.
Wide Network Of Garages:
With more than 3,000 network garages or cashless garages, New India Assurance has partnerships. It’s simpler for you to get your bike fixed without paying for it when there is a wide network of garages available.
No Claim Bonus:
With New India Assurance, you receive a No Claim Bonus for each year without a claim. To receive the advantages of the No Claim Bonus discount with your New India two-wheeler Insurance plan, avoid filing claims for small losses.
Bike insurance premiums with New India Assurance bike insurance begin at INR 108 only. This implies that you may purchase bike insurance with New India Assurance bike insurance at incredibly low costs. However, the cost of bike insurance changes while purchasing various add-ons.
Online New India Assurance Bike Insurance Coverage
Any private vehicle can have a two-wheeler insurance policy created just for it. Before choosing a two-wheeler insurance policy, it is crucial to comprehend the coverage. Your bike must be adequately covered to prevent theft, damage, or accidents.
Own Damage Bike insurance
Any loss or damage to your two-wheeler resulting from any of the factors that follow is covered by this policy:
- Burglary, theft or housebreaking.
- Fire, self-ignition, lightning, or explosion.
- Malicious Act.
- Riot & Strike.
- Earthquake (Shock and Fire) Damage.
- Terrorist Act.
- Accidental superficial means.
- Flood, Hurricane, Typhoon, Storm, Inundation, Tempest, Hailstorm, and Cyclone.
- By Rockslide/landslide
- Whilst in transit by inland waterway, road, elevator, air, or lift.
Liability Or Third Party
The Motor Vehicle Act of 1988 makes this policy a requirement for all cars operating on Indian roadways. Offering the following coverage:
- Personal Accident coverage for owner-driver
- Property damage to a third party around 1 lakh
- Covers death and /or bodily injury of third party
Personal Accident Covers
The owner-driver of the covered vehicle will get the sum insured of Rs. 1 lakh from New India Assurance bike Insurance in the event of a permanent total disability, or the beneficiary in the event of an accidental death.
An injury could make it difficult for you to earn money for yourself and your family. Additionally, the escalating expense of medications has the potential to squander all of your money. Having personal accident insurance could serve as a replacement for income in such stressful and unforeseeable circumstances.
Compensation Level For Personal Accident
- Loss of 2 limbs or two eyes’ sight – 100%
- Death of the owner-driver – 100%
- Loss of 1 limb or 1 eyesight – 50%
- Permanent complete disablement from harms other than those mentioned above – 100%
Factors That Affects The Premium
These elements have an impact on the New India Two-Wheeler Insurance Premium amount:
Bikers who have insurance policies with big sums assured may have to pay more for their coverage. Additionally, if you acquire a comprehensive bike insurance plan, you might have to pay a higher price.
History of Your Driving:
A rider may have to pay an additional fee compared to others if they have ever a bike insurance claim.
Your bike insurance policy’s rate is also impacted by additional features or add-ons. By paying an additional fee, policyholders can add a variety of options to their basic two-wheeler insurance.
Insured Person’s Age:
Young riders may pay a cheaper cost for their two-wheeler insurance plan. This is because accidents and other misfortunes are more likely to happen to elderly people.
Model and Make of Your Vehicle:
The cost of your bike insurance coverage is strongly influenced by the sort of two-wheeler you own. For instance, insurance for a Ducati Superleggera cycle is more expensive than insurance for other, less expensive bikes.
Inclusions & Exclusions
The following is a list of the includes and exclusions offered by New India Assurance:
- Damage because of natural disaster or fire explosion
- Third-party liability
- In case the insured vehicle is stolen or lost
- Any damage because of man-made catastrophe
- Any costs arising because of normal wear & tear
- Any type of mechanical or electrical breakdown
- In case there’s damage and the motorist is identified as having a valid license while driving
- Any harm caused by a driver’s irresponsibility while they are proven to be using drugs or alcohol while driving
A good selection of coverage is provided by the New India Assurance Two-Wheeler Insurance, and additional benefits can be added to suit the needs of the insured. These factors, together with the straightforward claim procedure, make it the best option for your two-wheeler insurance.
This company guarantees excellent claim resolution and 24-hour customer service. You receive exceptional service from their outstanding inspection staff. The New India Assurance Bike Insurance is a must-buy as a result for your favourite bike!