New India Assurance Commercial Vehicle Insurance

About New India Assurance Co Ltd

The New India Assurance Co Ltd was founded in 1919 by Sir Dorabji Tata. Since then, it has aimed to grow as a trusted and reliable insurance provider in almost 25 countries with over 1900 offices.

The company was recognised as the General Insurance company of the year for FY 2022-23 and offers multiple insurance products, such as motor, health, home, travel, and marine insurance.

Key Features of New India Assurance Commercial Vehicle Insurance

Benefits of New India Assurance Commercial Vehicle Insurance

Policyholders can avail the following benefits with their New India Assurance commercial vehicle insurance:

• Various network garages across India
• Easy to purchase and renew
• Round the clock customer service assistance

Types of New India Assurance Commercial Vehicle Insurance

New India Assurance Co Ltd. offers the following types of commercial vehicle insurance policies:

1. Liability Only Policy: A liability only policy, also known as a third party commercial vehicle insurance, is a legal mandate as per the Indian Motor Vehicles Act. This type of insurance only offers coverage against third-party liabilities caused by the insured vehicle. A compulsory personal accident cover for the owner-driver is also included in the mandatory liability-only policy.
2. Package Policy: This policy offers protection against damages caused to the insured vehicle in addition to any third party, person or property. A package policy, or a comprehensive commercial vehicle insurance covers the insured vehicle against damages caused due to accidents, fire, theft, and natural disasters.

New India Assurance Commercial Vehicle Insurance Add-Ons

The coverage for a New India Assurance commercial vehicle insurance can be further enhanced by including the following add-ons by paying an additional premium:

• Zero Depreciation Cover: While settling a claim, commercial vehicle insurance companies deduct the cost of depreciation on replaced and repaired parts as per the age of the vehicle. With this add-on, the depreciation costs are not deducted in case of an accident.
• Electrical Accessories Cover: This add-on covers the cost of repairing and replacing electrical accessories which are additionally fitted and were not included in the manufacturer's initial selling price.
• Non-Electrical Accessories Cover: This add-on covers the cost of repairing and replacing non-electrical accessories which were additionally fitted and not included in the manufacturer's initial selling price.
• IMT 23 Cover: This add-on covers damages caused to parts that are generally excluded in an own-damage commercial vehicle insurance. It covers parts, such as lamps, tyres, tubes, mudguards, side parts, bumpers, etc., after deducting the depreciation costs.

How to Buy New India Assurance Commercial Vehicle Insurance?

Policyholders can buy or renew their New India Assurance commercial vehicle insurance using the following steps:

• Visit policybazaar.com
• Select 'Commercial Vehicle Insurance'
• Enter the registration number and click on submit
• Fill in the IDV, choose any required add-ons, and select the NCB, if renewing.
• All the plans will be displayed
• Choose the most suitable commercial vehicle insurance out of all the options available
• Pay the premium and the policy will be mailed to the registered email.

How to File A Claim Against a New India Assurance Commercial Vehicle Insurance?

In case of any unforeseen emergencies, file an insurance claim using the steps mentioned below:

Documents Required to File New India Assurance Commercial Vehicle Insurance Claim

Copy of claim intimation given to insurer with photocopy of the policy and premium receipt:

• Driving license
• Duly filled India Assurance commercial vehicle insurance claim form
• RC of the insured vehicle
• An estimate of repairs from the repairer and stamped receipt
• Verification of road tax
• Bills and cash memo of repairs
• Police Panchanama/FIR
• Permit and fitness certificate and any other documents deem feet for the situation.

New India Assurance Commercial Vehicle Insurance FAQs