New India Two Wheeler Insurance
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- Immediate Policy Issurance
Top New India Bike Insurance Plans
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About New India Bike Insurance
New India Assurance Company is one of the most reliable bike insurance companies in India. The company provides three types of two-wheeler insurance plans to secure you financially against losses or damages to your vehicle. New India is owned and operated by the Government of India. Keep reading to find out more about New India's bike insurance plans.
Key Features of New India Bike Insurance
Claim settlement ratio
Up to Rs. 15 lakh
Claim settlement assistance
Benefits of Purchasing New India Two-Wheeler Insurance Plan
Many bike insurance companies in India offer two-wheeler insurance plans. Among the numerous leading bike insurance providers in India, New India Assurance Company is one of them. Some of the benefits that the company has to offer are highlighted in the section below:
- High Claim Settlement Ratio: New India Assurance has a high claim settlement ratio of 92.23%. As the claim settlement ratio is high, the company is efficient in settling bike insurance claims. Furthermore, the company provides 24/7 support to its policyholders.
- Wide Number of Network Garages: New India Assurance has tie-ups with over 3,000 cashless garages or network garages. With an extensive network of garages available, it becomes easier for you to get your bike repaired in a cashless manner.
- Add-on Covers: To further enhance the coverage of your bike insurance plan, New India Assurance also offers a number of add-ons. Some of the add-ons available are personal accident coverage, accessory coverage, and more.
- Affordable Premium: New India Bike Assurance has a bike insurance premium starting at Rs. 108. This means that with New India Bike Assurance, you can buy bike insurance at very affordable rates. However, when adding different add-ons, the bike insurance premium varies.
- No Claim Bonus Discount: For every claim-free year, you get a No Claim Bonus discount with New India Assurance. So, avoid raising claims for minor damages and get the benefits of a No Claim Bonus with your New India Bike Insurance plan.
Steps To Calculate New India Bike Insurance Premium
The bike insurance premium calculator is an online tool through which you can determine the estimated premium for your insurance plan. Here’s a step-by-step guide that you can follow:
- Click on the bike insurance page for New India.
- Fill out the information like bike registration number, email ID, mobile number, and more.
- Select the type of two-wheeler insurance policy you want to purchase.
- Hit the “submit” button to view the estimated bike insurance premium.
Types of Bike Insurance Plans Available With New India Assurance
There are three different types of bike insurance plans that you can buy with New India Assurance such as those listed below:
- Third-party Bike Insurance: It is compulsory for every two-wheeler in India according to the Motor Vehicles Act of 1988. The insurance will take care of third-party liabilities in case of a mishap including bodily injury, death, and property damage. Two-Wheelers caught without this insurance cover can be punished with a fine of Rs 2,000 and/or be imprisoned for up to 3 months.
- Standalone Own-damage Bike Insurance: To protect your two-wheeler from mishaps you can get coverage from standalone own-damage cover. A Standalone Ow-damage Bike Insurance will compensate your insured bike in case of a road accident, an act of vandalism, theft, fire, or natural and manmade calamities.
- Comprehensive Bike Insurance: Comprehensive Bike Insurance is one plan that provides coverage for both third-party and standalone own-damage coverage. However, the premium of Comprehensive Bike Insurance is comparatively higher than the other two bike insurance types.
Add-ons Available with New India Assurance
A standard two-wheeler insurance policy can be further strengthened by purchasing add-on covers. These options give the insurance policy flexibility, allowing customers to pick and choose add-ons that are in alignment with their needs. Make sure to select your add-on covers thoughtfully, as they can make a huge difference at the time of claim settlement. Some of the add-ons covered by New India Assurance are as follows:
- Accessories Cover provides financial protection for stereos, nuts, and other types of accessories
- Personal Accident Cover
- Coverage for Co-passengers
Factors Affecting New India Bike Insurance Premium
Following are the factors that affect the New India Bike Insurance Premium:
- Driving History: If a rider has made any bike insurance claims previously, they may have to pay a higher premium in comparison to others.
- Coverage Amount: Policyholders with a high sum assured bike insurance policy might have to pay a higher premium. Additionally, you might have to spend more on the premium if you purchase a comprehensive two-wheeler insurance plan.
- Age of the Insured: Young riders might have to pay a lower premium for their bike insurance policy. This is because older individuals are more at risk of accidents and other mishaps.
- Add-ons: Additional benefits or add-ons also impact the premium for your bike insurance policy. Policyholders can purchase numerous add-ons with their base two-wheeler insurance by paying an extra premium.
- Make and Model of Bike: The type of two-wheeler you have significantly impacts the premium for your bike insurance policy. For instance, the cost of Ducati Superleggera bike insurance is higher in comparison to the cheaper bikes.
Tips to Buy the Best Bike Insurance Plan
Bike insurance up to third-party coverage is mandatory for all two-wheelers in India. So, when purchasing two-wheeler insurance, ensure that you compare different options and select the one that is best suited for you. Read on to find out some tips for buying the best plan in India:
- Consider purchasing a two-wheeler insurance policy online. This is because some insurers provide attractive discounts on the digital purchase of the policy.
- Next, always calculate the premium for different bike insurance policies. This will help you select the most affordable bike insurance plan.
- Among the different types of bike insurance plans available, select comprehensive two-wheeler insurance. This plan provides coverage for both own and third-party damages for the policyholders.
- Always check the claim settlement ratio of the company. It ensures that the company is reliable and will provide financial security in the event of mishaps, like accidents.
Inclusions and Exclusions Available with New India Assurance
Listed below are the inclusions and exclusions available with New India Assurance:
- Third-party liability
- Damage due to fire explosion or natural disaster
- Any damage due to man-made disaster
- If the insured bike is lost or stolen
- Any kind of electrical or mechanical breakdown
- Any expenses arising due to normal wear and tear
- Any damage that takes place as a result of driver’s negligence when they are found riding under the influence of alcohol or drugs
- If there is damage and the driver is found riding with a valid driving license
How To Buy New India Bike Insurance With InsuranceDekho?
New India Two-wheeler insurance policy can be bought online with ease. Here’s a comprehensive guide that you can follow:
- Go to the official website of InsuranceDekho.
- Hit the “bike insurance” tab.
- Fill out your personal and bike details, such as your mobile number, bike registration number, and others.
- You will be redirected to the bike insurance quotes page. Select the plan of your choice.
- Include the necessary add-ons to your policy.
- Pay a premium online to buy New India Bike Insurance.
- Once the above process is completed, the New India policy document will be sent to your registered email ID.
Why Should You Buy a Bike Insurance Plan Online?
Following are the benefits of purchasing bike insurance online:
- Hassle-Free Process: New India Bike Insurance purchasing process is simple and easy. You can purchase the plan 24/7 from the comfort of your home.
- Attractive Discounts: Some insurers provide attractive discounts on purchasing bike insurance policies online. Therefore, you can save on the premium by purchasing the plan digitally.
- No Paperwork Required: Unlike the old-school method of purchasing bike insurance, policyholders can now make quick and hassle-free purchases. You don’t have to stand in long lines or require an insurance agent to buy the policy. Simply, visit the official website of the insurer and make a purchase.
- Instant Issue of Policy: You can secure your two-wheeler against mishaps quickly. All you need to do is to provide some details and pay a premium online to buy bike insurance policy.
How To Renew Bike Insurance Policy?
The step-by-step guide to renewing a two-wheeler insurance policy is highlighted below:
- Visit the official website of New India Assurance.
- Log in to the online portal.
- Enter your policy details, such as bike registration number, policy number, and more.
- Click on the “renew” tab. Include the necessary add-ons in your plan.
- Pay a premium online to renew your New India Bike Insurance Plan.
How to Raise a New India Bike Insurance Claim?
New India bike insurance claim settlement process that you may have to follow in each case is highlighted below:
In Case of Theft
- File an FIR immediately.
- Submit a copy of the FIR to your bike insurance company.
- The insurer will assess the loss and damages.
- Transfer the RC of the bike to the insurer’s name as soon as your claim is approved.
- Give your bike keys and the subrogation letter to the insurer.
In Case of Third-Party Claim Settlement
- Immediately notify the insurer about the mishaps.
- Collect all the necessary documents and submit them to the insurer.
- Also, submit your New India Bike Insurance policy claim form.
- The insurer will verify all the details and documents you submit.
- If satisfied, the insurer will settle your claim.
In Case of Accidental Claim Settlement
- Inform the insurer about the incident.
- Download the claim form from the company’s website.
- Fill out the claim application form thoroughly and submit it along with all the necessary documents.
- The insurer will send investigators to assess the details you submit.
- The claim settlement process will be completed if the insurer is satisfied.
Documents Required to Claim New India Bike Insurance
Following are the documents required to claim the New India Bike Insurance Plan:
- A copy of the bike insurance
- Copy of valid driving license
- Repair bills
- Copy of registration certificate
- Duly-signed claim form
Benefits of New India Bike Insurance
- An extensive network of 3,000+ garages
- 24x7 emergency assistance is available
- Digital insurance process for paperless system
- Issues instant policies for all insurance products
- Enables customers to get coverage in 28 countries.
Explore New India Bike Insurance
Must Read Articles before buying New India Bike Insurance
- Looking for reasons to buy New India Bike Insurance Plan? Read on this blog to find out the benefits in detail!
- Read this article to know why you should buy two-wheeler insurance at New India Insurance.
- Read this article to find out easy steps on how you can get a duplicate copy of your bike insurance policy documents from New India Assurance.
- You should consider tips to maintain your bike during corona. So, here are a few tips that you can follow to take care of your bike during covid.
- If you are wondering about how much bike insurance costs. We have compiled the tips to know the cost of a two-wheeler insurance policy.
New India Bike Insurance User Reviews
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New India Assurance Two Wheeler Insurance FAQs
Is there any condition on buying two wheeler insurance from New India Assurance?
Yes, New India Assurance has set up the following conditions for its customers:
- The two wheeler has to be RTO registered.
- The vehicle should not be older than 15 years.
Does New India Assurance offer a discount through No Claim bonus?
A policyholder can get a handsome discount on OD premium through No claim bonus. In New India Assurance Company the policyholders can get a 20% discount on the premium for the first no claim year. Whereas, they can get a 50% discount of premium for a consecutive 5 claim-free years.
What is the scope of coverage of New India Assurance Two Wheeler Insurance plans?
The scope of coverage varies as per the type of policy. A third party Insurance policy covers the policyholder against all the legal liabilities arising due to property damage, death or bodily injuries caused to a third party by the insured’s two wheeler. Whereas a comprehensive Insurance policy covers both own-damages incurred by the insured’s vehicle in addition to third party liabilities. A standalone own-damage policy provides coverage only for damages incurred by the insured’s two wheeler.
Does my geographical zone affect my IDV?
Yes there are several factors that affect the IDV, one of them is the geographical zone. It very much depends on where you live. Your premium amount will be more if you live in an area with dense traffic because the chances of an accident will be more. Therefore, if you are living in an urban area you should be ready to pay an extra premium in comparison to people living in rural areas.
Can premium be paid online or do I need to visit the branch every time?
One does not need to visit the branch every time you need to pay a premium. The premium can be paid online using your debit card, credit card or Net banking.
Why to buy from InsuranceDekho?
- Instant policy# within 5 mins
- More than 50 lakhs happy customers
- Claim Support available all 7 days of the week
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