- About Coverfox
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 Two Wheeler Insurance Company offers hassle-free claim settlement
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.
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 cheapest 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!