- About Coverfox
Buying a two wheeler is a huge investment. But maintaining it shouldn’t burn a hole in your pocket. Hence, New India Assurance offers third party cover, quick settlements and 24/7 customer service to ensure that all your two wheeler needs are taken care of under one comprehensive plan.
New India Assurance Two Wheeler Insurance Company offers hassle-free claim settlement
The company offers two wheeler insurance plans to cover own damage, third party damage and personal accident cover for owner-driver to relieve two wheeler owners of major expenses in case of critical situations.
New India Assurance Two wheeler Insurance Policy can be tailor-made for any private vehicle to get insurance. It is important to understand the coverage before actually opting for a two wheeler insurance policy. It is essential to cover your bike sufficiently to protect it from theft, damage or accident.
Type of Injury Compensation Level in case of personal accident cover for owner-driver
New India Two wheeler insurance offers amazingly unique add-on covers that offers an extra touch of protection at a minimal rate. These add-ons enhances your basic insurance policy by paying an additional premium.
Under the core insurance policy the cost of the depreciable parts of your two wheeler are not covered fully in case of repair or replacement at the time of claim. Deducted depreciable cost of repair or replacement is paid by the insurer even after holding a policy at the time of claim.
To save money on such repair or replacement of depreciable vehicle parts such as rubber, metal, plastic, nylon, fiber, etc. at the time of claim due to the perils mentioned in the Own Damage section of the policy, New India Assurance offers an add-on cover – Nil Depreciation or Zero Depreciation. With the help of this add-on cover the policyholder saves ample of money on repair or replacement of depreciable vehicle parts. The cost is fully covered by the New India Assurance if this add-on cover is bought in additi on to the Package Policy.
No claim bonus
You are eligible for a NCB discount on your own-damage premium for every claim-free year .It starts with 20% for the first year and can go as high as 50% over 5 consecutive claim-free years. The best part is you can retain this discount, even if you wish to sell the current bike and purchase a new one.
The following table shows the NCB grid:
|No. Of Years||Discount|
|One claim-free year||20%|
|Two consecutive claim-free years||25%|
|Three consecutive claim-free years||35%|
|Four consecutive claim-free years||45%|
|Five consecutive claim-free years||50%|
A deductible is nothing but an amount that you need to pay out during an accident or mishap. This deductible plays a major role in determining your two wheeler insurance premium. Higher the deductible, lower would be your two wheeler insurance premium. If you know you are a safe and responsible driver, opt for a higher voluntary deductible. This will help in getting the lowest two wheeler insurance
Membership of AAI
If your bike is a member to any of the recognized Automobile Associations of India then can fetch you an extra discount
Installation of security devices
If your two wheeler is fitted with ARAI approved anti-theft devices, you are eligible for an additional discount up to 2.5% on your own-damage premium.
Toll-Free Number: 1800-209-1415
Step-by-step Claim process and documents:
a) In case of Accident
b) In case of Theft
c) In case of Third Party Claims
Step-wise guide to claim:
The first things to make a claim is to call on New India Assurance Two wheeler Insurance’s Toll-Free Helpline number - 1800-209-1415
Take appointment with the surveyor and take your vehicle to any of New India Assurance Two wheeler Insurance authorized network garages for repair, for cashless service. Submit the require documents to the surveyor
Company confirms liability
If possible, opt for cashless facility, the company will settle the repair bills directly with the garage up to the amount payable
But in case you do not opt for cashless facility, you have to pay for the repair charges and then submit the bills with claim form to the surveyor/company for settlement
The New India Assurance Two wheeler Insurance offers a good range of coverage and there is option for add-on benefits to customize the requirements of the insured. These along with the clear cut direction of claim process makes it the right choice for your two wheeler insurance. This Company ensures 24*7 customer support and an excellent claim settlement process too. Their excellent inspection team offers you high service standards. Therefore, The New India Assurance Two wheeler Insurance for your beloved bike is a must buy!
What are the documents required for filing a two wheeler insurance claim from New India Assurance?
Here’s the list of documents that an applicant needs to furnish for raising a two wheeler insurance claim from New India Assurance:
FIR issued by the police
Registration Certificate of the insured two wheeler
Driving License of the individual driving the two wheeler at the time of the accident
Receipt for the estimated cost for repair or replacement
What are the factors that determine the premium eligibility for a two wheeler insurance from New India Assurance?
The common parameters that are taken into consideration while evaluating the eligibility for a two wheeler for insurance from New India Assurance are:
IDV (Insured Declared Value): IDV is the sum insured opted for by the policyholder and is the difference between the selling price of the two wheeler as set by its manufacturer and expenses towards taxes, registration charges, and premium amount for two wheeler insurance from New India Assurance.
Age of the vehicle: The greater the age of the insured two wheeler, the higher will be the premium amount for a two wheeler insurance from New India Assurance.
Capacity of the two wheeler: The cubic capacity of the insured two wheeler determines the degree of risk that it may be exposed to. The higher the cubic capacity, the higher will be the premium amount for two wheeler insurance from New India Assurance.
Location of the policyholder: A policyholder who is the resident of a city has a higher chance of getting into an accident as compared to a policyholder who lives in a town and, hence, will have to pay a higher premium. Further, a policyholder from a conflict-ridden location has a lower probability of raising a claim than residents of other areas, therefore, increasing his/her premium amount.
Additional riders: Add-on riders offer additional benefits as compared to basic insurance plans. Therefore, they can be purchased through additional charges, over and above the premium for the basic plan. Therefore, the more add-on riders you opt for, the higher will be your premium payment for two wheeler insurance from New India Assurance.