Comprehensive 3 year bike cover by New India will be Launched Soon

Insurance Regulatory and Development Authority has given its nod to New India Assurance to offer two-wheeler insurance policy in the country. This will be the first policy offering from the company in its two wheeler segment. Insurance seekers across the country will have the option to buy two wheeler insurance from one of the trusted brands with respect to general insurance. According to this policy can buy a consolidated policy covering their two-wheeler for three years. The buyer will no longer be bothered to renew their policy every year will be significantly reduced.

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As per the reports, the policy will be offered on a long term basis will also help reduce the number of uninsured vehicles on the road thereby assisting people in safeguarding their interests. As told by chairman of New India Assurance Company, Mr. G Srinivasan, the new policy is expected to be launched within this month. Regarding the pricing, he said they will announce the same while launching the policy. He was present and speaking while announcing country’s third quarter results and felt very enthusiastic for the future as company performed extremely well in tough conditions. The company’s net profit saw a rise of 42 % from the previous year and stood at 996 crore INR.

(Source: This article has been adapted from the article "New India to offer 3-year bike cover" that appeared on February 05, 2015 in timesofindia.indiatimes.com)

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^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