Features of New India Assurance Commercial General Liability Insurance
Here are the key highlights of New India Assurance Commercial General Liability Insurance:
- Bodily Injury and Property Damage: The policy covers legal claims arising from physical harm or property damage caused during business operations.
- Personal and Advertising Injury: It offers coverage for non-physical injuries, including libel, slander, and wrongful expulsion arising from business activities.
- Worldwide Coverage: The policy provides worldwide coverage, provided the claims are made within the coverage territory and policy term.
- Supplementary Payments: It also pays for legal defense costs, investigation expenses, and bail bonds up to INR 25,000.
- Easy Claim Process: With New India Assurance Commercial General Liability Insurance, you get easy and hassle-free claim processing.
New India Assurance Commercial General Liability Insurance Inclusions
The policy offers comprehensive coverage, including the following:
- Physical Injury and Property Damage: The policy covers damages from legal claims due to injury or damage.
- Personal and Advertising Injury: It pays for liabilities arising from issues like libel, slander, false arrest, wrongful eviction, and copyright infringement.
- Medical Expenses: It covers medical expenses for injuries caused by an accident if they occur on property owned or rented by you, in areas next to such property, or as a result of your business operations.
- Supplementary Payments: New India Assurance Commercial General Liability Insurance also compensates for legal defense costs, investigation expenses, and bail bonds up to INR 25,000.
Disclaimer: This is not a complete list. Please read your official policy documents carefully for full details on all inclusions.
New India Assurance Commercial General Liability Insurance Exclusions
Here is the list of exclusions under New India Assurance Commercial General Liability Insurance:
- Asbestos or Silica Exposure: The policy does not cover any claims related to asbestos or silica in any form.
- Employee Injuries: Employee injuries are not included in the policy. To get this cover, you may consider a separate Workers’ Compensation plan.
- Intentional Acts: Any bodily injury or property damage expected or intended is not covered under the policy.
- War and Terrorism: Any loss suffered due to war, terrorism are not included in New India Assurance Commercial General Liability Insurance.
- Recall Costs: The policy does not pay for expenses related to recalling defective products or work.
Disclaimer: This is not a complete list. For full details on all exclusions, please refer to your official policy documents.
New India Assurance Commercial General Liability Insurance Claim Process
The claim process under the New India Assurance Commercial General Liability Insurance policy involves the following steps:
- Immediate Notification: Inform the New India Assurance about the incident at the earliest.
- Document Submission: Submit a written notice of the claim with details such as the nature, date, and location of the incident.
- Evaluation and Claim Registration: New India Assurance will thoroughly evaluate and register your claim and provide you with a claim reference number.
- Appointment of Surveyor: New India Assurance will appoint a surveyor to assess the situation and confirm the extent of the damage.
- Documentation Submission: The surveyor will submit the report after assessing the extent of damage.
- Claim Approval and Settlement: Once the evaluation process is complete and your claim is approved, New India Assurance will release the claim funds.
New India Assurance Commercial General Liability Insurance: FAQs
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Q. Who can buy the New India Assurance Commercial General Liability Insurance plan?
Ans: Any business, whether an individual, partnership, or corporation can opt for India Assurance Commercial General Liability Insurance to protect their business against third-party liabilities.
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Q. Is worldwide coverage included?
Ans: Yes, the policy covers claims made worldwide, provided they fall within the policy terms and coverage territory.
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Q. Are legal expenses covered?
Ans: Yes, the policy covers defence costs, which are covered under supplementary payments.
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Q. Can I make voluntary payments to the third party?
Ans: It is not advisable to admit your liability or make any payments without New India Assurance's written consent.
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Q. What if I cancel the policy early?
Ans: New India Assurance offers a refund on a short-term scale if no claims have been made.
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