New India Assurance Own-Damage Bike Insurance Policy

The New India Assurance own-damage (OD) bike insurance policy, also called standalone own-damage bike insurance, offers comprehensive financial protection to the insured bike in case of several mishaps. Read on to learn more about the New India OD bike insurance policy.

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New India Assurance Own-Damage Bike Insurance Policy - Key Features

Here are the key features of the New India Assurance own-damage bike insurance policy:

Categories Key Features
Policy Coverage
  • Covers losses due to bike theft.
  • Provides financial support for damages from man-made disasters such as vandalism and riots.
  • Compensation for damages or losses resulting from accidents.
  • Financial protection against losses from natural disasters like floods, earthquakes, etc.
Policy Premium
  • Offers competitive premium prices.
  • Various add-ons or riders are available at an extra cost to enhance basic coverage.
  • Compulsory Personal Accident (PA) cover for the vehicle owner available at an additional cost.
Convenience
  • Instant policy issuance with zero paperwork.
  • Hassle-free claim process with a wide range of network garages.
  • Easy online options for purchasing bike insurance online and renewing it.

*Disclaimer: The above table highlights the key features of the New India own-damage bike insurance policy is only for the reference purpose. Refer to the policy wordings to understand the exact coverage.

Why Choose New India Assurance Own-Damage Bike Insurance?

The own-damage bike insurance policy ensures coverage for repairing or replacing the insured bike’s parts. The policy includes coverage against accidents, theft, natural disasters such as floods or earthquakes, and man-made incidents like riots, vandalisms, strikes, etc.

For complete protection, it is advisable to complement this policy get along with the mandatory third-party bike insurance policy.

Here are the reasons of why you should opt the New India Assurance own-damage bike insurance policy:

  • Cashless Claim Facility: Repairs can be done at any of the insurer's network garages without worrying about the finance.
  • 24x7-Customer Support: Round-the-clock assistance available for the policyholder for any bike insurance-related queries or emergencies.
  • Roadside Assistance Service: Instant support in case of accidents is available for the insured, including various assistance services, such as emergency fuel assistance, flat tyre replacement, towing, etc.

Inclusions of New India Assurance Own-Damage Bike Insurance

The New India Assurance own-damage bike insurance covers include:

  • Cost of repairing or replacing the bike in case of accident damage.
  • Compensation in case of the insured vehicle is stolen.
  • Coverage for losses or damages caused due to various incidents, such as floods, earthquakes, storms, lightning, etc.
  • Protection against damages from fire, riots, vandalism, etc.
  • Coverage for damages due to fire, explosion, or self-ignition.
  • Protection against losses or damages during transportation of the bike by road, rail, air, or water.

Exclusions of New India Assurance Own-Damage Bike Insurance

The New India Assurance own-damage bike insurance has certain exclusions, where coverage is not provided by the insurer:

  • Depreciation of the bike’s parts causing wearing & tearing.
  • Any electrical or technical breakdown causing damage to insured bike.
  • Damages to third parties in a road accident involving the insured bike.
  • Damages caused while riding under the influence of alcohol or drugs.
  • Usage of the bike for purposes not stated in the policy.
  • Damages or losses not complying with the policy's terms and conditions.

How to Buy New India Assurance Own-Damage Bike Insurance Online?

To buy New India Assurance two-wheeler insurance online, follow these steps:

  • Step 1: Visit official website of Policybazaar Insurance Brokers Private Limited and select 'Insurance Products' from the top menu.
  • Step 2: Choose 'Own-Damage Bike Insurance' from the from the drop-down list options.
  • Step 3: Enter the right two-wheeler details and click on 'View Prices.'
  • Step 4: Compare and select New India Assurance own-damage bike insurance and provide necessary details asked in the form. You can also buy bike insurance add-ons to enhance the scope of coverage.
  • Step 5: Pay the bike insurance premium online to receive the policy document via registered email ID.

How to File New India Assurance Own-Damage Bike Insurance Claims?

To raise a claim for New India Assurance bike insurance policy, follow these steps:

  • Step 1. Contact the insurance company via email or phone to inform the insurance provider about incident at the earliest.
  • Step 2. Download the claim form from their website, fill it out accurately, sign it, and gather all of the required documents.
  • Step 3. Submit the filled-out claim form and necessary documents to the insurer.
  • Step 4. A surveyor will be assigned to inspect the bike damage based on your claim request.
  • Step 5. Upon receiving the surveyor's report, the insurer will approve or reject the claim.
  • Step 6. If approved, repairs can be done at any network garage without worrying about the expenses. If you choose any nearby or local garage, pay first and then submit bills to the insurer for reimbursement.

Documents Required for New India Assurance Own-Damage Bike Insurance Claim

The documents needed to file a claim for New India Assurance own-damage bike insurance are as follows:

  • FIR copy (if applicable)
  • Valid New India Assurance own-damage bike insurance policy
  • Rider's Driving License (in case of an accident)
  • Bike's Registration Certificate (RC)
  • Accurately filled and signed claim form
  • Additional documents as required by the insurer

FAQs About New India Assurance Own-Damage Bike Insurance Policy

  • Q1. What is New India own-damage bike policy?

    Ans: The New India own-damage bike policy refers to a type of bike insurance policy offered by New India Assurance Company Limited. It offers protection to the insured bike against several unforeseen risks, such as accidents, theft, fire, natural calamities, etc.
  • Q2. What is own-damage bike insurance cost?

    Ans: The own-damage bike insurance premium depends upon several factors, including IDV, year & location of registration, make, model, variant, etc.
  • Q3. What is the expiry date of New India own-damage bike insurance policy?

    Ans: The New India own-damage bike insurance policy is usually offered for a 1 year and needs to be renewed annually.
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 Own-Damage Bike Insurance Policy 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