New India Assurance Standalone Own Damage Car Insurance

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New India Assurance Standalone Own Damage Car Insurance
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  • Plan starting @ ₹ 2094#

  • 95% Claim settlement ratio

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      New India Assurance Standalone Own Damage Car Insurance

      A New India Assurance Standalone Own Damage car insurance is an additional cover that offers financial and legal protection to your car in case of an unforeseen incident such as a road accident. While third-party insurance is mandatory under the law, one can purchase this OD cover from New India Assurance Company for added protection.

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      Key Features of New India Assurance Standalone Own Damage Car Insurance

      Categories Key Features
      Own Damage Cover Yes
      Mandatory No
      No Claim Bonus Yes
      Add-on Covers Yes
      Zero Depreciation cover Yes
      PA Cover Upto Rs. 15 Lakhs

      Coverage Under New India Assurance Standalone Own Damage Car Insurance

      • Road accidents, collisions or accidents by any other external means
      • Damages arising as a result of manmade acts like strikes, riots, etc
      • Damages sustained by the insured vehicle due to natural disasters like cyclones, earthquakes, hurricanes etc. 
      • Compensation can be availed in case of a total loss due to theft or burglary
      • Losses arising from fire or explosion are also covered under the own damage insurance for car.
      • Mechanical or electrical breakdown of the insured car
      • Depreciation sustained by the insured car
      • Accidental damages arising out of the mentioned geographical limits
      • Any third-party liability such as third party death or property damage caused due to the insured four-wheeler
      • Accidental damages to the insured car as a result of drunk driving
      • Damages sustained by the insured car when the driver was not carrying a valid driving license.

      Add-ons Under New India Assurance Standalone Own Damage Car Insurance

      Add-ons are additional covers that can be purchased along with a New India car insurance policy to enhance its coverage. For instance, purchasing an Engine Protection Cover can cover your car’s engine in case of any mishap which is not covered under a standard OD cover. 

      Some important add-ons offered under New India OD car insurance include:

      • Zero Depreciation Cover
      • Engine Protection Cover
      • NCB Protector
      • Loss of Personal Belongings
      • Roadside Assistance Cover
      • Consumables Cover
      • Invoice Protect Cover

      How to Buy New India Assurance Standalone Own Damage Car Insurance Policy?

      Car owners can purchase a New India Assurance own damage car insurance online by following the steps mentioned below:

      • Visit Policybazaar.com and select “Car Insurance” from the homepage
      • Enter your car number on the given form and proceed further
      • Now select your car’s state and RTO
      • From the given tables, select your car’s make, model, and registration year
      • If you already own a third-party insurance, you will be shown a list of own damage car insurance plans to choose from. You can choose a New India OD plan from the list
      • Select add-ons that you wish to add to your plan
      • Next, you will be required to furnish some more vehicle-related details
      • Now make payment as per the chosen payment mode
      • Once the premium is paid, your New India OD car policy documents will be mailed to you.

      Documents Required to Raise New India Assurance Standalone Own Damage Claim

      Below mentioned are the documents required to raise a New India own damage car insurance claim:

      • Duly signed claim form
      • KYC documents
      • Copy of own damage car insurance papers
      • Copy of car’s registration certificate
      • Bills and estimates of repairs
      • Copy of Police FIR

      FAQs

      • Q1. How to claim car insurance for New India own damage policy?

        Ans: Follow these steps to raise a claim under New India standalone own damage car insurance:

        • Inform the insurer about the damages sustained by your car
        • A surveyor will be appointed by the insurance company to examine the damages sustained by your car
        • Provide the needed documents to the surveyor so that your claim can be verified
        • Once the claim is verified, your car will be sent to a network garage for repairs
        • After the repairs, the insurer will directly settle the own damage claim with the network garage
      • Q2. How can I calculate own damage premium before purchasing a policy?

        Ans: You can easily calculate OD premium using a Car Insurance Premium Calculator on Policybazaar.com. This tool lets you calculate premium based on your car’s make, model, RTO and registration year.

      • Q3. Is own damage insurance mandatory in India?

        Ans: No, an own damage car insurance is not mandatory in India. However, it can be purchased to get compensated in case you only have the mandatory third party coverage and wish to cover your car as well.

      • Q4. What is OD and TP in car insurance?

        Ans: OD in car insurance refers to own damage policy that covers damages sustained by the insured car due to unanticipated incidents. TP refers to third party insurance which covers third party liabilities such as third party property damages, death and injury to the third party arising out of the insured car.

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      #Rs 2094/- per annum is the price for third-party motor insurance for private cars (non-commercial) of not more than 1000cc

      *Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.

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