New India Assurance Company Limited offers car insurance as one of its key products, providing reliable protection backed by its nationwide network and government ownership. Registered with IRDAI under Registration No. 190, the company offers Third-Party Liability, Comprehensive (Package), and Standalone Own Damage car insurance policies. These plans are designed to meet both legal requirements and comprehensive vehicle protection needs.
New India Assurance Company Limited is India’s largest public sector general insurer, founded in 1919 by Sir Dorabji Tata and nationalised in 1973. With 1,600+ offices and operations in over 25 countries, it offers reliable and wide-reaching car insurance solutions backed by strong service support. The company is recognised by IRDAI as a Domestic Systemically Important Insurer and holds top ratings like CRISIL AAA/Stable and AM Best B++.
In FY 2024–25, it recorded a Gross Written Premium of ₹43,618 crore with a 12.57% market share, reflecting its strong financial stability and leadership in the car insurance segment.
| Feature Category | Details |
|---|---|
| PSU-Backed Legacy | Government of India-owned insurer with over a century of operational experience |
| Regulatory Compliance | IRDAI-approved products; policies comply with the Motor Vehicles Act, 1988 |
| Policy Types Available | Liability Only Policy and Package (Comprehensive) Policy |
| Long-Term Options | Long-term third-party cover available as per regulatory guidelines |
| Network Presence | 1,600+ branches nationwide and 3,000+ cashless network garages |
| No Claim Bonus (NCB) | 20% to 50% discount on renewal premium for claim-free years |
| IDV Flexibility | Flexible Insured Declared Value selection as per age-wise depreciation norms |
| Zero Depreciation Benefit | Up to 2 zero depreciation claims per policy period |
| Normal Claims | Unlimited admissible normal claims during the policy term |
| Add-On Covers | Optional add-ons available to enhance coverage (subject to underwriting) |
| Claims Process | Standardised and IRDAI-governed claim settlement procedures |
New India Assurance offers two primary car insurance policy types designed to meet different protection requirements - one fulfilling statutory obligations and the other providing wider financial security.
This policy meets the mandatory insurance requirement under the Motor Vehicles Act, 1988. It covers legal liability arising from bodily injury or death of a third party and damage to third-party property caused by the insured vehicle.
Third party car insurance provides unlimited liability for third-party injury or death, while property damage liability is covered up to the limit specified in the policy terms as per regulatory guidelines. It also includes the mandatory Personal Accident cover for the owner-driver, as prescribed by IRDAI.
The Package Policy offers broader protection by covering both third-party liability and loss or damage to the insured vehicle. This includes financial protection against accidents, theft, fire, explosion, self-ignition, natural calamities (such as floods, earthquakes, storms), and man-made events (such as riots or strikes).
By combining statutory liability cover with own-damage protection, the comprehensive car insurance policy provides enhanced financial security and wider risk coverage for vehicle owners.
Based on official policy wordings, New India Assurance offers the following enhanced add-on covers to strengthen protection under its Private Car Package Policy:
Zero depreciation add-on covers depreciation on replaced parts such as tyres, rubber, plastic, and fibre during partial loss claims, helping you receive a higher claim amount. It is available only for private cars up to 5 years old and cannot be added mid-term. Total loss claims are settled strictly on the basis of the Insured Declared Value (IDV).
Engine Protect covers repair or replacement costs arising from water ingression, oil leakage, or coolant loss, including damage to gearbox, transmission, and differential parts. It is available for cars up to 3 years old, allows unlimited claims, and includes coverage for hybrid components like batteries and inverters. No additional deductible applies under this add-on.
Under Return to Invoice add-on, in case of total loss, constructive total loss, or theft, the insurer pays the car’s on-road price instead of its depreciated value. This includes ex-showroom price, accessories covered under IDV, road tax, and registration charges. It is applicable only for private cars up to 3 years of age.
This cover pays for consumable items such as engine oil, nuts, bolts, filters, grease, AC gas, and brake oil used during repairs after an accident. It is applicable for up to two admissible partial loss claims in a policy period. Consumable cover add-on helps reduce out-of-pocket expenses during routine repair-related claims.
Key Protect reimburses the cost of repairing or replacing lost, stolen, or damaged vehicle keys, locks, and locksets, including locksmith charges. Key protection cover allows unlimited claims during the policy period and requires police acknowledgement in theft or burglary cases. Replacement is provided only with keys and locks of the same nature and type.
The car insurance premium is calculated based on the following key rating factors:
A higher IDV leads to a higher premium, as it represents the car’s market value.
Vehicles with higher engine capacity attract higher premiums.
Premium varies based on the registration location (Zone A or Zone B) as per risk exposure.
Older vehicles have lower IDV, which affects premium calculation.
Applicable for commercial vehicles; higher GVW results in higher premiums.
Optional covers like Zero Depreciation, Engine Protect, and RTI increase the overall premium.
Here are the key car insurance products offered by New India Assurance Company Limited, along with their respective UINs (Unique Identification Numbers):
| S.No | Name of Product | UIN Number of Product |
|---|---|---|
| 1. | Private Car Base Package Policy | IRDAN190RP0042V01100001 |
| 2. | Three Years Long Term Stand Alone Motor Third Party Insurance Policy for Private Cars | IRDAN190RP0019V01201819 |
| 3. | Private Car Liability Policy | IRDAN190RP0001V01200203 |
| 4. | Bundled Motor Policy for Private Cars | IRDAN190RP0023V02201819 |
These UINs are assigned by the Insurance Regulatory and Development Authority of India (IRDAI) and uniquely identify each motor insurance product.
You can easily purchase New India Assurance Car Insurance through the Coverfox platform in a few simple steps:
Visit the Coverfox Car Insurance Page - Go to the car insurance section on the Coverfox website.
Enter Vehicle & Personal Details - Provide your car registration number, make and model, year of manufacture, and basic personal information.
Compare Quotes - View quotes from multiple insurers and select the New India Assurance car insurance plan.
Choose Coverage & Add-Ons - Select the type of policy (Third-Party, Comprehensive, Long-Term TP, etc.) and optional add-on covers as per your requirements.
Review & Confirm - Check the premium breakdown, policy details, and terms before proceeding.
Make Payment - Complete the purchase securely using online payment options such as net banking, debit/credit card, or UPI.
Receive Policy Document - Your New India Assurance car insurance policy is issued instantly and sent to your registered email/mobile.
New India Assurance Company Limited offers a wide pan-India network of authorised cashless garages for private car insurance policyholders (3000+). When you opt for repairs at these network workshops, the repair bills are settled directly between the insurer and the garage after survey approval, reducing the need for upfront payment by the policyholder, except for deductibles, consumables, and non-covered items.
You can head over to https://www.newindia.co.in/garage -list to find the exact cashless garage in your location.
1800-209-1415
tech.support@newindia.co.in
Available through the official website claim intimation portal
New India Assurance Building, 87, Mahatma Gandhi Road, Fort, Mumbai – 400001, India
Disclaimer: * Savings are based on the maximum discount provided on own damage premium as offered by our car insurer partners.
Yes, New India Assurance Company Limited is a public sector insurer owned by the Government of India.
It covers private cars registered for personal use, subject to policy terms and eligibility conditions.
Third-party insurance covers legal liability towards others, while comprehensive insurance covers both third-party liabilities and damage to your own vehicle.
You can renew online through the official website, Coverfox, or by visiting a branch before expiry.
Claims can be intimated online via the website, through the toll-free number, or at the nearest branch, followed by vehicle inspection and document submission.
Generally, you need the policy copy, RC, driving licence, FIR (if applicable), claim form, and repair bills or estimates.
Yes, it includes mandatory Personal Accident cover for the owner-driver as per IRDAI guidelines.
Yes, liability for third-party injury or death is unlimited, while property damage is covered up to the prescribed limit.
IDV is calculated based on the car’s manufacturer’s listed price after applying age-wise depreciation.
You can choose the IDV within the insurer’s approved range, considering the vehicle’s age and market value.
Any private car owner with a valid registration and driving licence can purchase a policy, subject to underwriting norms.
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