New India Assurance

New India Assurance Co Ltd, founded by Sir Dorabji Tata in 1919. And now it is a 100 % Government owned multinational general insurance company operating in 28 countries with headquarter in Mumbai, India.

New India Assurance’s Indian business touched Rs 10,000 crores (Rs 100 billion) in 2012-13.

The New India Assurance has been conferred an AAA/Stable rating by CRISIL, which is a reflection of the company’s financial stability and solubility, which in turn talk about the strong ability of the company to fulfill the claims of their customers. Moreover, New India Assurance is the only direct insurer in India rated A - (Excellent - Stable outlook) by AM Best.

Interesting Facts

  • New India Assurance was established in 1919
  • New India Assurance is one of the oldest in India
  • New India Assurance is the leader in the non-life insurance sector
  • New India Assurance got 3000 offices in India and 20 across the globe
  • New India Assurance got range of 160 products
  • New India Assurance provides insurance to: Individuals, Corporates, SMEs
  • New India Assurance also, provides : Commercial Insurance, Rural, Micro Insurance

PRODUCT PORTFOLIO

HEALTH INSURANCE

Any kind of illness can turn things upside down in your life. With medical expenses going over the roof top, health insurance can help you to maintain the financial stability. Having a health insurance plan is way you ensure there are enough funds to take care of all the medical costs in case of any uncertainties that life may throw upon you or any of your family members.

Know More about Health Insurance provided by New India Assurance

See what New India Assurance has to offer:

  • New India Senior Citizen Mediclaim: All senior citizens need a health insurance plan. This plan is designed keeping senior citizen in mind, having age of 60 years up to 80 years. It covers pre-existing disease but have a waiting period of 18 months.

  • New India Janata Mediclaim: This policy covers the hospitalization cost of individuals between age 18yrs up to 60yrs and children between ages of 3months to 18yrs. The expenses incurred are covered up to the Sum Insured value.

  • New India Asha Kiran: Do you have a daughter child? This policy is meant for parents with Girl Child Only. All the expenses of hospitalization, hospital cash benefit, critical care benefit and personal accident benefits are covered. The age of a girl child can be in between 3 months to 2 years, while the age of the parent can in between 18 years up to 25 years.

  • New India Floater Mediclaim: You can cover yourself and your family under this policy. You can cover each individual with each having different sum insured or cover the whole family with single sum insured. This plan covers the costs of all medical and hospitalization expenses.

  • New India Family Floater Mediclaim (No fresh policies issuance only renewal): This plan covers the whole family i.e. you, your spouse, dependent children (maximum 2) with a single sum insured of minimum 2 Lakhs to a maximum of 5 Lakhs. It is available to people of age between 18 years to 60 years.

  • New India Mediclaim 2012: This policy is available for people between age 18yrs to 65yrs and children between 3 months to 25 years. You can buy one policy and cover the whole family with different sum insured.

  • New India Mediclaim 2007: This plan is only available for renewal (No Fresh Policies allowed).

  • New India Top-up Mediclaim: This plan covers In-Patient hospitalization expenses, if the expenses exceeds the "Threshold". It covers each and every hospitalization cost after the previous hospitalization exhausted the sum insured or the "Threshold".

  • New India Road Safety Insurance (Rasta Apatti Kavach): This policy is a compensation in case of bodily injury due to the accident. It covers all the hospitalization expenses incurred due to the accident with sum insured of Rs. 25,000 to 1,00,000.

  • New India Personal Accident: This policy is designed to compensate the insured person who has suffered bodily injury due to an accident.

MOTOR INSURANCE

New India Assurance offers different insurance policies for private vehicle, commercial and also covers third party liability. Which gives the owner of the insured vehicle a complete peace of mind. To know more, please click here.

  • New India Private Car Package Policy: This comprehensive package policy for private vehicle covers any loss or damage incurred to the insured vehicle, additionally, covers third party liability. New India Assurance also provides few add-on covers to boost up the core policy.

  • New India Two Wheeler Insurance: New India Assurance provides two-wheeler insurance that covers any loss or damage that may happen to your two-wheeler and it also covers any third party loss or damage caused by the insured vehicle.

TRAVEL INSURANCE

Whether you are planning a family vacation or a single business trip, the New India Assurance travel insurance offers different policy to meet your needs. New India Assurance’s Travel Insurance covers on-travel risks, from medical emergencies, to lost baggage or stolen passport, etc.

  • New India Suhana Safar Policy:
    • It is a risk coverage against any losses that you may face during your domestic travel via Rail, Road, Air, Water or own vehicle. New India Assurance’s Suhana Safar ensures you get complete peace of mind on your domestic travel trips.
  • New India Overseas Mediclaim Policy:
    • If you are planning for an international trip this is a must go-go as it covers the cost due to an accident, illness or diseases contracted while you are on your international trip.
  • New India Pravasi Bharatiya Bima:
    • If you are looking for a work visa in abroad this policy of New India Assurance is a way to ensure you stay covered financially in case of any personal accident or hospitalization. This policy covers the cost of an individual as well as family of the insured.

New India Assurance – Other Insurance Policies:

New India assurance offers many more policies In addition to the above mentioned policies. Below is the list that includes, Commercial, Industrial, Liability, and Social.

  • Money Insurance
  • TV/ VCR/ VCP Insurance
  • Mobile/ Cellular Phone Insurance
  • Birthright Insurance
  • All Risk Insurance
  • Gun Insurance
  • Baggage Insurance

New India Assurance - Commercial Insurance :

  • Jewellers Block Policy
  • Bankers Indemnity Policy
  • Shopkeeper’s Policy
  • Marine Cargo Policy
  • Plate Glass Policy
  • Special Contingency Policy
  • Neon Sign Insurance
  • Multi Peril Policy for LPG Dealers
  • Fidelity Guarantee Insurance Policy
  • Marine Hull Policy
  • Aviation Insurance

New India Assurance - Industrial Insurance :

  • Fire Policy
  • Burglary Policy
  • Machinery Breakdown Policy
  • Electronics Equipment Policy
  • Consequential Loss Policy
  • Contractors All Risk Policy
  • Marine cum Erection/ Storage cum Erection Policy
  • Advanced Loss of Profit/ Delay in Startup Policy
  • Contractor Plant and Machinery Policy
  • Mega Package Policies

New India Assurance - Liability Insurance:

  • Public Liability Policy
  • Product Liability Policy
  • Professional Indemnity Policy
  • Directors and Officers Liability Policy
  • Lift (Third Party) Insurance
  • Employer’s Liability Policy
  • Carrier’s Liability Insurance
  • Liability Insurance Act Policy
  • Golfers Indemnity Insurance

New India Assurance – Social Insurance:

  • Universal Health Insurance Scheme for APL families
  • Jan Arogya Bima Policy
  • Janata Personal Accident Insurance
  • Student Bima Yojana
  • Rural Insurance
  • Pradhan Mantri Suraksha Bima Yojna
  • Swavlamban

NEW INDIA ASSURANCE- CLAIM PROCESS

  • The first and foremost step is to inform and lodge a claim by contacting New India Assurance on the Toll Free number - 1800-209-1415
  • Keep all your documents handy such as policy number, name of the insured or details of insured vehicle.

    For individual step by step claim process of Health, Motor, and travel read below.

HEALTH INSURANCE - CLAIM PROCESS

Once you bought a health insurance policy form New India Assurance, it is quite important for you to know the step-by-step process to lodge a claim so that the expenses incurred due to hospitalization is covered. Additionally, you should understand Do’s and Don’ts’ so that your claim gets approved.

Below is the list that New India Assurance Health Insurance policy will cover:

  • Pre and Post Hospitalization costs
  • Hospital Charges (Room Rent, Boarding, ICU and Operation Theatre Charges)
  • Fees for Surgeon, Anesthetist, Nurse, specialist, etc.
  • Cost of Diagnostic Test, Medicines, Blood, Oxygen, etc.

The claim will be processed and settled by the Third Party Administrator (TPA) licensed by Insurance Regulatory and Development Authority of India (IRDAI).

Note: For any claim to be processed and approved you need to lodge a claim by intimating the company.

Case 1: If it is a Planned Hospitalization

If you are planning to go for a planned hospitalization, it is necessary to intimate the company 48hrs prior to the hospitalization.

Case 2: In case of an Emergency Hospitalization

In case of an emergency hospitalization, it is important to intimate the company within 48hrs from the time of hospitalization.

Any health insurance policy issued by New India Assurance provides

Cashless Claim Process:

New India Assurance provides a complete cashless claim service to their customers. When you opt for a cashless claim you are covered without paying any cash to the hospital.

It gets you covered with the medical expenses of any treatment for sickness, illness or accident provided the treatment is carried out at the listed New India Assurance Network Hospital. On approval of the claim the medical bills are directly paid by the New India Assurance to the hospital.

In case of an immediate admission a Pre-authorization request to be sent to TPA.

Important documents and details to be provided at the time of claim:

  • Policy Number, Policyholder’s/ Insured’s Name
  • Contact Details of the Claimant/ Policyholder
  • Name of the Insured/ Claimant
  • Hospital Details
  • Nature of Ailment/Details of the Accident (Commencement date of the symptoms & related details)

Reimbursement Claim Process:

The difference between the cashless and the reimbursement claim is that the insured needs to pay all the cost first and later New India Assurance will reimburse to the insured. All the medical expenses bill are required to be submitted to get the reimbursement to the company or TPA.

The benefit of this claim process is that the treatment can be carried out in any registered hospital, that is, it is not mandatory to get treated in the New India Assurance Authorized Hospital.

The insured needs to intimate the company about being hospitalized.

Within seven days of getting discharge the insured needs to submit the bills to TPA to get reimbursement.

Important documents and details to be provided to get reimbursement:

  • Claim Form duly signed by the Insured
  • Photocopy of ID Card
  • Photocopy of policy certificate
  • Original discharge card/summary, Original hospital bills
  • For consolidated amounts, a detailed breakup of the amount
  • All investigation reports and bills in original supported by a note from the attending doctor/surgeon recommending such investigations
  • Surgeon’s certificate stating nature of surgery performed, bill and paid receipt
  • Attending doctors/consultants/specialists/anesthetists bill, receipt and certificate
  • ECS Form

CAR INSURANCE CLAIM PROCESS

If you are a policyholder of a New India Assurance Car Insurance, the below claim process would help you to lodge a claim and get it settle under different incident:

In case of accidental damage to the insured vehicle:

  • Immediate intimation to the nearest office, which will issue a Claim Form.
  • Submit the dully signed Claim Form with a copy of Registration Certificate, driving license of the driver, driving the vehicle at the time of accident.
  • Submit repair cost estimate
  • A Surveyor appointed by the insurance company will be sent to survey the vehicle condition. The survey report is then submitted to the company for the approval. And in case of a major damage to the vehicle, a spot survey would be carried out by the company.
  • To get reimbursement the insured need to submit duly signed final bills or cash memos.
  • It might be required to deposit the salvage of the damaged parts with the insurance company.

In case of theft of the insured vehicle:

  • The first thing to do is to lodge an F.I.R. with the police.
  • Intimate the company with a copy of FIR.
  • Submit the Final “No Trace Found” Police Report.
  • Once the claim is approved by the company, you need to transfer the Registration Certificate in the name of the company, hand over the keys of the vehicle, submit a letter of Subrogation and Indemnity on stamp paper duly notarized.

In case of liability claim because of insured vehicle:

  • Immediately intimate New India Assurance on their Toll-free number about the liability claim.
  • On receipt of summons from Court, the same should be sent to the company immediately.
  • Claim Form duly filled in along with copies of Registration Certificate, Diving License, FIR are to be submitted.

Note: Policy details given are indicative, not exhaustive. Please contact your nearest NIA office for further details.

BIKE INSURANCE CLAIM PROCESS

If you are a policyholder of a New India Assurance two-wheeler Insurance, the below claim process would help you to lodge a claim and get it settle under different incident:

In case of accidental damage to the vehicle:

  • Intimate to the nearest office and issue a Claim Form.
  • Submit the dully signed Claim Form with a copy of Registration Certificate, driving license of the driver, driving the vehicle at the time of accident.
  • A Surveyor appointed by the insurance company will be sent to survey the vehicle condition. The survey report is then submitted to the company for the approval. And in case of a major damage to the vehicle, a spot survey would be carried out by the company.
  • To get reimbursement the insured need to submit duly signed final bills or cash memos.
  • It might be required to deposit the salvage of the damaged parts with the insurance company.

In case of theft of the vehicle:

  • The first thing to do is to lodge an F.I.R. with the police.
  • Intimate the company with a copy of FIR.
  • Submit the Final “No Trace Found” Police Report.
  • Once the claim is approved by the company, you need to transfer the Registration Certificate in the name of the company, hand over the keys of the vehicle, submit a letter of Subrogation and Indemnity on stamp paper duly notarized.

In case of liability claim because of insured vehicle:

  • Immediately intimate New India Assurance on their Toll-free number about the liability claim.
  • On receipt of summons from Court, the same should be sent to the company immediately.
  • Claim Form duly filled in along with copies of Registration Certificate, Diving License, FIR are to be submitted.

Note: Policy details given are indicative, not exhaustive. Please contact your nearest NIA office for further details.

TRAVEL INSURANCE CLAIM PROCESS

Overseas Mediclaim Claim:

To lodge any claim you can contact AMERICAN ASSIST TRAVEL SERVICES for emergency services across the globe.

New India Pravasi Bharatiya Bima - Claim Procedure:

  • Depending on the case the insured, nominee or the authorized legal representative(s) is required to intimate/inform to the Policy Issuing Office in writing.

  • Within one month of the incident the insured or nominee is required to submit claim form to the Policy Issuing Office. And is expected to cooperate in providing information and documents as required by the company.

  • Compensation will be paid in Indian currency and will be settled in India without any interest.

Suhana Safar Policy: In case of any claim please contact Nearest “NIA Office” for further details.

Review of New India Assurance

With 100% government owned and operated in 28 countries across globe it is the most reliable insurance company. The Excellent – Stable rating by AM Best is backboned with AAA/Stable rating by CRISIL, makes New India Assurance an outstanding performer. If you are looking for a 100% government operated insurance company – New India Assurance is the way to go.

New India Assurance - Contact Details:

The New India Assurance Company,

87, M.G. Road, Fort, Mumbai - 400 001

Customer Care: 1-800-209-1415

Website: www.newindia.co.in

Social Media (Icons)

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FAQs on New India Assurance

I have not claimed for any reason during the past three years in my vehicle Insurance Policy. But I am paying my insurance premium year on year. What is the benefit for me for making no claims?

If you have not claimed for one year, then on the subsequent year, your premium will be reduced through applicable No Claim Bonus. When there were no claims registered for more than one year, the respective No Claim Bonus percentage will be applied in your policy to get more reduction in your premium.

My Property insurance policy got expired sometime back. I have missed to renew it on time. What should I do now?

If your Insurance policy expired already, then you can call our Toll Free Number (1800-209-1415) to fix an appointment with the company’s risk inspection staff. Once the Risk inspection is complete, then your property will undergo a revised risk evaluation and Insurance can be renewed accordingly.

However, please make sure to renew your policy on time in the upcoming years. The company will also send reminders well in advance about the renewal due of your policy.

I have taken a health insurance policy few months ago. I want to include my spouse now as I got married recently. What should I do now?

There are three ways in which you can include your spouse into your health insurance policy in the mid – term.

  • Please have your policy number and your spouse’s details (name, date of birth etc.,) ready in hand and call the Toll Free Number (1800-209-1415) to register your endorsement request and also to pay your premium amount.
  • Contact your Agent and give him an appointment to visit your premises so that he can collect the details and endorsement will be processed and dispatched to you subsequently.
  • You can visit the branch offices near your location with all the required details and documents and can get your spouse inclusion endorsement done there.

I have a Group Personal Accident Insurance Policy that covers my company employees including me. What does “Per Person Limit” mean?

In Group Personal Accident Insurance Policy, Per Person limit is the defined maximum amount that can be paid to one person for his injuries.

For an example, If two employees injured in an accident resulted 5000 INR claim for each, if the per person limit in the policy is 5000 INR, then both employees will get paid 5000 INR as the claim amount. Whereas if one employee’s injury requires 2500 INR as the claim amount and for the other, it is 7500 INR, then the policy will settle 2500 INR for the first one and 5000 INR (maximum allowed amount per person) for the other one.

Though I have paid my full premium for covering my risk, why should I pay a small amount in every claim from my pocket?

As per the agreed insurance policy condition, for each claim, a defined amount should be borne by the Insured (customer) and the rest of the claim amount (if covered in insurance) will be settled by the Insurer (Insurance Company). This amount is called as “Deductible”.

The Deductible will be a fixed amount or a fixed percentage of your claim amount. Based on the type of deductible chosen during the policy inception, it will be applied on each of your claim amount and settled accordingly.