The New India Assurance

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Owned by the Indian government, New India Assurance Company was formed by Sir Dorabji Tata in 1919. Today the company is a multinational company operating in 28 countries. With its headquarters in Mumbai, the company has a stronghold in the insurance market all through the country. As on 30 March 2020, the company’s net worth with Fair Value was INR 25,971.57 crores. Since the year 2014, the company has been rated AAA/Stable by CRISIL.

 

The company offers an array of insurance products that include:

  1.  New India Private Car Insurance 
  2.  New India Two-Wheeler Insurance
  3.  New India Health Insurance
  4.  New India Travel Insurance
  5.  New India Rural Insurance
  6.  New India Industrial Insurance
  7.  New India Liability Insurance
  8. New India Private Car Insurance 

For every vehicle running on the Indian roads, it is mandatory to have an insurance policy. This is mandated by the Motor Vehicle Act, 1988. The vehicle owner must possess the Certificate Of Insurance whenever using the vehicle. New India Assurance Company Limited offer the following kinds of insurance for Private Cars:

  • Liability Only Policy-Private Car
    This is the most basic kind of insurance, and it is mandated by the government. With this kind of plan, you cover the third-party liabilities. This means that if your car causes damage or physical injury to a third-party or person. This would also cover the legal costs and expenses you would incur due to the accident. 
    Liability in respect to death is covered for an unlimited amount and injury is covered for INR 7.5 lakhs.  

     
  • Package Policy
    With a package policy, you can cover the third-party liabilities along with the damages that your car would suffer. The causes of damages include:
    • Accident or collision of the car
    • Burglary of car
    • Natural disasters-earthquakes, floods, landslides
    • Man-Made disasters-malicious/ terrorist acts
    • During the transportation of car - Air/ Water/ Road

       
  • Standalone Own-Damage Car Insurance
    As mentioned above, third-party liability will not cover your own-damages. If you wish to add cover for your vehicle, you can opt the standalone own-damage policy and cover the damages to your vehicle due to:
    • Accident or collision of a car
    • Burglary of car
    • Natural disasters-earthquakes, floods, landslides
    • Man-Made disasters-malicious/ terrorist acts
    • During the transportation of car - Air/ Water/ Road
      This policy can be opted for only when the vehicle is already covered under third-party liability. 

       
  • Standalone CPA Cover
    A standalone Compulsory Accident Cover is provided to the driver, with a sum insured of INR 15 lakhs for a period of 1 year.
    • Death (100%)
    • Loss of Limbs (50% to 100%)
    • Permanent Total Disability from accidental injuries (100%)

       1.  New India Two-Wheeler Insurance

The New India Two-Wheeler Insurance covers all kinds of motorised two-wheelers such as scooters and motorbikes.

  • Liability Only Policy Two-Wheeler 
    Mandated by the government, third-party liabilities mean that if your two-wheeler/bike causes damage or physical injury to a third-party or person you have to bear the expenses. The liability would also cover the legal expenses you would have to incur due to the accident. 
    Liability in respect to death will be covered for an unlimited amount and injury will be covered up to INR 1 lakhs.  

     
  • Two-Wheeler Package Policy
    When you want to cover your two-wheeler with all-round coverage, you should go for the two-wheeler Package Policy by New India Assurance. With this policy, you can cover the third-party liabilities and with the damages that your bike suffers. The damages include:
    • Accident or collision
    • Theft of the two-wheeler
    • Natural disasters - earthquakes, floods, landslides
    • Man-Made disasters - malicious/ terrorist acts
    • During transportation by - Air/ Water/ Road

       
  • Standalone Own-Damage Two-Wheeler Insurance
    When you have liability only insurance, it will not cover your own-damages. However, if you want to cover your own-damages too, you can opt the standalone own-damage policy. The damages due to the following reasons will be covered:
    • Accident or collision
    • Theft of the vehicle
    • Natural disasters - earthquakes, floods, landslides
    • Man-Made disasters - malicious/ terrorist acts
    • During transportation through - Air/ Water/ Road
      This policy can be opted for only when the vehicle is already covered under third-party liability. 

          2. New India Health Insurance

With a wide range of health insurance plans, the company offers a lot of choice to all its customers. Depending on your insurance needs you can select the plans that suit you the most. 

Type of Insurance Main Features of the Insurance Plan
New India Asha Kiran Policy 
  • A plan for parents who only have a girl child
  • Covers hospitalisation expenses along with accidental injuries
  • Cash benefit option available
  • Entry Age
    • Children 3 months - 25 years
    • Adults 18 years - 65 years
  • Covers 11 critical illnesses
New India Cancer Guard Policy 
  • An individual plan that covers members of the Indian Cancer Society
  • Your spouse can also be covered
  • Entry Age 18 - 70 years
  • With an additional premium, two dependent children can be covered
  • Sum Insured INR 50,000 to INR 2 lakhs
  • Policy Tenure 1 year
New India Floater Mediclaim
  • A family floater plan that covers you, your spouse, up to 2 dependent children
  • 25% of the sum insured for AYUSH treatment
  • Entry Age
    • Children 3 months - 25 years
    • Adults 18 years - 60 years
  • Sum Insured INR 2 lakhs - INR 5 lakhs 
  • Policy Tenure 1 year
New India Mediclaim Policy
  • An insurance policy that covers the entire family
  • No pre-policy check-up till the age of 50 years
  • In case of hospitalisation, you can get hospital cash
  • Entry Age
    • Children 3 months - 25 years
    • Adults 18 years - 65 years
  • Sum Insured INR 1 lakh - INR 15 lakhs 
  • Policy Tenure 1 year
New India Top Up Mediclaim
  • Super top-up plan that helps you enhance the cover of your existing plan
  • Up to six members can be covered
  • Lump-sum benefit in case of illness
  • AYUSH treatment covered
  • Entry age 18 years - 65 years
  • Sum Insured 5 lakhs to INR 22 lakhs
    • Deductible INR 5 lakhs and 8 lakhs
  • Policy Tenure 1 year
New India Janta Mediclaim Policy
  • An affordable health insurance policy that covers daycare treatments
  • Also covers existing diabetes, hypertension, after paying an extra premium
  • AYUSH treatment covered
  • Entry Age
    • Children 3 months - 25 years
    • Adults 18 years - 60 years
  • Sum Insured INR 50,000 to INR 75,000 
  • Policy Tenure 1 year
New India Premier Mediclaim Policy
  • A premium health insurance plan that offers various benefits for the whole family 
  • 2 variants:
    • Plan A-Sum Insured INR 15 lakhs to INR 25 lakhs
    • Plan B-Sum Insured INR 50 lakhs to  INR 1 crore
  • Maternity and newborn baby cover
  • Entry Age
    • Children 3 months - 18 years
    • Adults 18 years - 65 years
  • Policy Tenure 1 year 
New India Senior Citizen Mediclaim 
  • A health insurance policy for the people aged over 60 years
  • Covers AYUSH treatment
  • Voluntary co-payment of 10%
  • Covering your spouse will get 10% more discount
New India Jan Arogya Bima
  • A low-cost health insurance plan that is available on family floater basis
  • Entry Age 5 years - 60 years, dependent children over 3 months
  • Sum Insured INR 2 lakhs - INR 8 lakhs 
  • Entry Age 60-80 years
  • Sum Insured INR 1 lakh to INR 1.5 lakhs
  • Policy Tenure 1 year
New India Group Insurance Plans
  • New India Universal Health Policy
  • Standard Group Janta Mediclaim
  • New India Flexi Group Mediclaim Policy
  • Cancer Medical Expenses Group
Corona Kavach New India Assurance 
  • A standard health insurance policy that offers cover hospitalisation expenses due to COVID-19 treatment 
  • Available on Individual and Family Floater basis
  • Age of Entry 1 day - 65 years 
  • Sum Insured from INR 50,000 to INR 5 lakhs
  • Policy Tenure - 3 ½ months, 6 ½ months, 9 ½ months
Aarogya Sanjeevani New India Assurance 
  • An affordable standard health insurance policy that covers you and your family
  • Available on individual and family floater basis
  • Sum Insured INR 1 lakh to INR 5 lakhs
  • Mandatory 5% co-payment
  • 5% of cumulative bonus for every claim-free year up to a maximum of 50%
  • Cover AYUSH treatments

         3. New India Travel Insurance

Be it for pleasure, business or higher education, travel insurance has now become an integral part of all kinds of travel. New India Assurance Company Limited offers travel insurance plans that save you from the various problems that you may face when far away from home. These plans not only cover you against expenses due to any disease or accident but also cover the risks such as loss of baggage, trips cancellation and curtailment. Let us take a look at the plans available:

Type of Insurance Main Features of the Insurance Plan
New India Assurance Overseas Mediclaim Policy 
  • A plan for Indian citizens from 6 months to 70 years
  • The plan is payable in INR but claims are settled in dollars abroad
  • Can be opted for corporate executives who need to travel often
  • Types of Plan:
    • OMP - Business and Holidays Plan
    • Employment and studies Plan 
New India Suhana Safar Policy 
  • A domestic travel insurance plan for up to 60 days
  • Covers water, road, rail and private vehicles
  • Personal accident cover up to INR 1 lakh 

New India Insurance Company - Premium Payment

  • Online Method
    With New India Insurance, payment of premium is a very easy and simple process that can be completed in a few minutes. Visit the company website or simply click https://www.newindia.co.in/portal/quickRenewPost/payment. Enter your Customer ID and Fresh Quote number. You can make the payment via net banking/ credit or debit card/ mobile wallets/ auto-debit from your bank account. 
  • Offline Method 
    In case you wish to pay the premium directly at the office, you can make the payment via cheque or a demand draft. To locate a branch office near you, you can either visit the company website or click https://www.newindia.co.in/portal/readMore/Offices

New India Insurance Company - Renewal of Policy

Renewing your policy is extremely important, and can be done offline as well as online. Timely renewal will help you enjoy all the benefits break-free. 

  • Online Method
    To renew the policy online, visit the company website. https://www.newindia.co.in/portal/quickRenewPost/payment. Enter your Customer ID and Policy Number or Renewal Quote number. You can make the payment via net banking/ credit or debit card/ mobile wallets/ auto-debit from your bank account... 
  • Offline Method
    If you want to renew the policy offline, you can make the payment via cheque or a demand draft by physically visiting a branch office. To locate a branch office nearby, click the link https://www.newindia.co.in/portal/readMore/Offices

New India Insurance Company - Renewal of Expired Policy

When you have an insurance policy in your name, it is highly recommended that you do not miss renewing it on time. You must renew your policy before it expires, if you make a claim in the 30-day grace period it would not be accepted. 

  1. New India Car and Two-Wheeler Insurance Plans
    If somehow, your policy has expired and you want to get it renewed, you would have to get in touch with the customer care. On your request, they would arrange for a company surveyor who would assess your vehicle. Once the renewal is approved, you would be guided by the company about the procedure to renew the policy. Depending on the kind of motor/ two-wheeler insurance plan you have, you may or may not have to pay a fine. 

     
  2. New India Health Insurance Plans
    Just like motor insurance, when your health insurance policy expires, it also enters the 30-day grace period. Before this period expires, you must renew the policy. If you need to renew an expired policy, get in touch with the customer care, you would be guided by the company about the procedure to renew the policy. 

New India Insurance Company - Claim Procedure:

  • Car and Two-Wheeler Insurance
    In the event of an accident, you must intimate the company at the earliest, you can call the company customer care or write them an email to notify them about the accident. You need to fill in the claim form that can be downloaded from the company website. Click https://www.newindia.co.in/portal/product/know-more/motor-insurance/private-car-insurance to download the form. If it is a major accident, the company can arrange a spot survey, else you can take it to a nearby garage. 
    • Cashless Claim
      Once your vehicle is at a network garage after the approval your vehicle will be assessed by a company surveyor. After he submits his report and if the claim is approved you can get your vehicle repaired. The claim form along with the RC and the driver’s driving licence must be submitted to make a claim. At an approved garage, the claims can be settled by the company. However, you would have to pay for the uncovered expenses. To see the list of network garages click https://www.newindia.co.in/portal/readMore/GarageList 

       
    • Reimbursement Claim
      When you take your vehicle to a non-network garage, you can still make a claim in the form of a reimbursement, provided the garage fulfils the criteria of the company. However, you would still have to notify the company at the earliest. Apart from car-related documents and your driver’s license, you also need to submit the final bills and memos with the company. Once the paperwork is verified you will receive the payment in your bank account. Remember that you would have to bear the uncovered expenses. 
  • Health Insurance
    Making a health insurance claim is easy with New India Insurance. The first thing that you need to do is to notify the company’s Third Party Administrator (TPA). The intimation should be done 48 hours prior to admission in case of planned hospitalisation and 24 hours with admission in case of emergency hospitalisation. 
    • Cashless Claim
      New India offers cashless treatment with many of its health insurance plans. When you go to the hospital, you need to produce your Health Card/ Policy Details. You would also have to submit the claim form along with all other treatment-related documents. Once the pre-authorisation is done, the company will settle the claims. However, you would have to pay for the uncovered expenses. You can check the list of hospitals on the company website or click https://www.newindia.co.in/portal/readMore/HospitalsList
  • Reimbursement Claim
    When you get your treatment done from a non-network hospital, you still have the option to make a claim, however,  it should be ensured that the hospital fulfills the criteria laid down by the company. Once you are discharged from the hospital, within 7 days you have to submit all your documents to make a reimbursement claim. The TPA also has to be authorised to take all the required documents from the hospital. Once all the documents are verified, you will be reimbursed for the expenses in the saving bank accounts instructed by you. 

New India Insurance Company - Company Profile

New India Assurance Company Limited has over 2450 offices in the country that includes 1339 micro offices as well. Such a vast network helps the company maintain a strong connection with all its customers. The insurance processes are simple and easy-to-understand and thus, make buying, renewing and claiming a policy, totally hassle-free and convenient. The company recorded an Incurred Claim Ratio of 95.39% during the financial year 2018-19. 

New India Insurance Company - Limited - Customer Care Details

Official Websitehttps://www.newindia.co.in
Email IDtech.support@newindia.co.in 
Toll-Free Number1800 209 1415
Company Address 

#87, M.G.Road, Fort,

Mumbai 400 001

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