New India Assurance Two-Wheeler Insurance

The New India Assurance Company Limited is a multinational general insurance company founded by Sir Dorabji Tata in 1919. This government-owned company offers several insurance products and services, including a two-wheeler insurance policy. New India Assurance bike insurance protects your two-wheeler against third-party liabilities and unwanted expenses from accidental damages.

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New India Assurance Bike Insurance- Key Features

Below are the key features of the New India Assurance bike insurance policy:

Categories Key Features
Two-wheeler Network Garages 1173+
Claim Settlement Ratio (CSR) 91% (as per the IRDAI motor insurance annual report 2021-22)
Customer Assistance 24x7 available
Personal Accident (PA) Cover Up to Rs. 15 Lakh

Things to Know About New India Bike Insurance Policy

The New India Assurance Company Limited is a public sector general insurer offering a wide range of policies at affordable premiums. Some significant points about the New India bike insurance policy that you must be aware of are as follows:

  1. Eligibility Criteria

    Only RTO-registered two-wheelers can buy a bike insurance policy from New India Assurance Company Limited.

  2. Sum Assured

    IDV of the vehicle determines the sum assured of a vehicle insurance policy. The amount you get on your bike insurance is based upon the IDV, i.e., the current market value of the two-wheeler.

    However, the policyholder and the insurer mutually settle the IDV of a two-wheeler over five years old or an outdated model.

  3. No-Claim-Discount

    You can earn a No Claim Bonus (NCB) between 20 and 50 per cent for all the claim-free years. The NCB varies based on the number of years that you have yet to file a claim.

  4. Road Safety Insurance – Optional Coverage

    New India Assurance also offers Road Safety Insurance or Raasta Aapatti Kavach policy. It reimburses the hospitalization costs in case of accidental injuries. Under this, the policy provides Personal Accident compensation ranging from Rs. 25,000 to Rs. 1 Lakh and in further multiples of Rs. 1 Lakh to Rs. 10 Lakhs.

  5. Add-on Coverage

    Just by shelling out some extra money, you can get:

    • Accessories cover
    • Coverage for co-passengers (commercial vehicles)
    • Personal accident coverage to passengers, including drivers and employees.

Inclusion of a New India Assurance Two-wheeler Insurance Plan

The company provides both third-party insurance and comprehensive plans. Here is a quick rundown of the coverage that is offered:

  1. Third-party bike Insurance

    The insurer will compensate for the loss in the event of bodily injuries, accidental death of a third person, or third-party property damage in an accident.

  2. Comprehensive Two-wheeler Insurance

    Buy this plan to cover both third-party and your own two-wheeler damages. The policy will cover the damages resulting from:

    • Collision or Accident
    • Burglary, theft, and housebreaking
    • Floods, storms, cyclones, earthquakes, etc.
    • Malicious Acts
    • Damage during the transit
    • Third-party liabilities

    The insurer also provides towing assistance from the accident site to network workshop up to a maximum limit of Rs. 300 for two-wheelers. However, you can increase the limit by shelling out some extra premium.

    Moreover, a restricted cover is available that covers the risks of fire and/or theft only. If you plan to buy a comprehensive two-wheeler insurance cover, the above coverage will help you determine an adequate policy. You can invest your hard-earned money wisely and safeguard yourself from unforeseen emergencies while driving.

Exclusions of New India Assurance Two-wheeler Insurance Plan

You will not get compensation for claims arising out of the following circumstances:

  • Riots and war conditions
  • Normal wear & tear
  • Any consequential loss
  • Contractual liabilities
  • Driving without a DL
  • Driving the two-wheeler after consumption of liquor
  • Usage of insured bike beyond the specified limit.

Compare New India Two-wheeler Insurance Online

Before buying a bike insurance plan, remember to compare your bike insurance online based on the make and model, date of purchase, and place of registration, among other details. At Policybazaar.com, you get an option to compare several bike insurance plans offered by multiple insurers.

Firstly, you will decide the coverage you want, i.e. comprehensive or third-party insurance. Next, you can check the optional covers if need be. However, the bike insurance premium will be calculated based on your choices.

New India Assurance Bike Insurance Renewal

The company follows a simple and hassle-free renewal process. For quick New India bike insurance renewal, the steps are listed below:

  • Enter the Customer ID
  • Enter the last policy number
  • Renewed Insurance Quote No.
  • After submitting all the required details, save your New India Assurance bike insurance quotation and proceed
  • After finalizing, select the online payment and pay online via debit card, net banking, or credit card.
  • On completion of the payment, your policy will be emailed to you.

Claim Procedure for New India Bike Insurance

While filing a claim for your New India Assurance two-wheeler insurance policy, follow the below-mentioned procedure:

For Theft Claims Settlement

  • Immediately file a Police FIR
  • Submit the police report to the insurance company.
  • Your full cooperation is required while your bike is being inspected.
  • Transfer your bike’s RC to the insurer’s name as soon as you get approval for your claim.
  • Hand over the keys to your bike and the subrogation letter.
  • You can refer to the policy documents for further details.

For Third-party Claims Settlement

  • Immediately notify their claim team of the insurance provider
  • Share the summons from the court with the insurance company
  • Also, submit your New India Assurance bike insurance claim form
  • Additionally, the insurer will ask for your DL, FIR, and RC (In original).

For Accidental Claims Settlement

  • Once you file a claim for the damages, the insurer will give you the claim form
  • Fill out the form and submit it.
  • Also, provide your driver's license copy and registration certificate copy
  • The 2-wheeler will be then inspected by one of their agents
  • A report will be submitted by him, and based on that, your claim request will be taken forward
  • All the repair bills and cash memos need to be signed by you
  • Once you receive the approval, the insurer might ask you to submit the broken parts of the insured vehicle.

Documents Required for Raising Claims

  • Police FIR
  • DL/Driving License
  • Claim Form
  • Registration Certificate
  • Repair Estimates
  • Photocopy of the New India Assurance two-wheeler insurance policy
  • Bills and Receipts (stamped)
  • Premium Receipt
  • Other documents (if required)

You may also read New India Assurance Third-party Bike Insurance

New India Assurance Two Wheeler Insurance – FAQs

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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New India Assurance Two Wheeler Insurance Reviews & Ratings

4.8 / 5 (Based on 50 Reviews)
(Showing Newest 10 reviews)
Apoorva
Varanasi, October 09, 2021
Easy to compare
While searching on Google, when I went to the website of the policy bazaar, I saw a lot of plans according to my needs. I wanted to insured my two wheeler and i got new india assurance two wheeler plan here.
Akshat
Faridabad, October 09, 2021
Instant updates
From day one, i always gets prompt updates of everything. i bought new india assurance plan for my bike last year and till now i receive the same service from policybazaar which i used to get earlier. i am happy with my decision to take the plan from here.
Amrutanshi
Meerut, October 09, 2021
Attractive facilities
Thanks to Policybazaar for providing me attractive facilities in my budget. i found a suitable deal for my bike. After going through many plans I bought New India Assurance Two Wheeler Insurance from Policybazaar and got amazing benefits under the same.
Ankit
Rajkot, October 09, 2021
Add on cover
I took new india assurance two wheeler plan from Policybazaar. Everything was quite easy whether it was the purchase process or payment or customizing the plan. With the help of add on cover feature, I made my plan even more better.
Anshika
Vasai Virar, October 09, 2021
Faster claim settlement
Last month my bike got damaged, with the help of my New India Assurance two wheeler plan, I got cashless repairing. i got faster claim settlement through the policy Bazaar. Policy bazaar offers great deals to their customers. Highly recommended.
Ankur
Kalyan Dombivli, October 09, 2021
Suitable plan
Policybazaar took good care of my needs. the team Suggested me bike plans according to my budget. I found everything very easy, be it the renewal process or the purchase process. I took New India Assurance Bike Plan which was suitable according to my pocket.
Shrestha
Meerut, August 18, 2021
budget friendly
i got my best two wheeler plan from the website of policy bazaar. i am happy that i got best plan under my budget. when i visited to their website they have a lot options out of which i chose New India assurance two wheeler plan.
Shivani
Ranchi, August 18, 2021
good benefits
I bought a New india assurance two wheeler policy from policy bazaar. It will give you a third party coverage. you do not need to pay extra charges to buy a policy and i just bought it online within a minute. They will give you 24x7 service.
Shreelakshmi
Faridabad, August 18, 2021
add on covers
i recently bought New India assurance plan for my two wheeler through policy bazaar. i added some extra features under my plan and i got some extra premium like accessories coverage
Kapil
Lucknow, June 04, 2021
Best plan
I recently bought a new bike and was looking for some good insurance company. While going through New India two wheeler insurance plan on policybazaar, I knew I can trust my bikes safety with them. They have one of the best benefits that help us ride worry-free anywhere in the country.

^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.

^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.

#Savings are based on the comparison between 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.

*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.

*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)

#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.

*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.

*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis