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New India Standalone Own Damage Bike Insurance
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New India Assurance two wheeler standalone insurance protects you against repair and replacement costs when your bike gets damaged because of an accident, natural or man-made disaster, explosion, or fire, and damages that are beyond repair. The bike insurance policy also covers vehicle theft.
According to the Motor Vehicles Act (1988) by the Indian government, all vehicles in India must have at least a valid third-party insurance, the absence of which will lead to traffic penalties. However, buying a New India Assurance standalone insurance is optional. But if you club this policy with your already existing third-party insurance, you can have complete protection against all mishaps. You can also be financially covered in case your two-wheeler gets damaged along with the third-party liabilities.
With the New India Asssurance online portal, getting your standalone bike insurance online is an easy and relaxing experience, and you get your insurance online in no time!
How does New India Standalone Two Wheeler Insurance Policy Work?
Suppose your bike got severely damaged in an accident and now it requires you to invest a hefty sum for repairing works. In such a case, if you have a standalone policy of New India two-wheeler insurance, it will cover all the expenses incurred in repairing and replacing spare parts. For comprehensive protection, you must purchase a standalone own-damage two-wheeler insurance policy with a third-party insurance.
New India Standalone Two Wheeler Insurance Vs Third Party Two Wheeler Insurance Vs Comprehensive Two Wheeler Insurance
| Third-party Bike Insurance | Standalone Bike Insurance | Comprehensive Bike Insurance |
| This insurance policy takes care of the damages made to third-party assets or third-party persons only. | This insurance policy takes care of the damages caused to the insured and his vehicle only. | This insurance policy provides extra coverage by taking care of third-party liabilities as well as own damages. |
| Third-party insurance, being the cheapest policy available, does not come with extra benefits like add-on covers. | The standalone insurance policy is bit costly than third-party insurance and also offers add-ons covers to include in the policy. | The New India Asssurance comprehensive policy is expensive among all the policies and also allows to include add-on covers. |
| As per Motor Vehicles Act, this policy is mandatory to buy for every two wheeler owner in India. | This policy is optional to buy for every two wheeler owner in India. | This policy is optional to buy for every two wheeler owner in India. |
What All is Covered Under New India Standalone Two Wheeler Insurance Policy?
Accidental Damage
The New India two-wheeler insurance standalone will cover the cost of repairing or replacing motor parts of an insured bike damaged due to the accident.
Natural Disasters & Man-made Disasters
If your bike gets damaged due to earthquakes, floods, etc., or man-made disasters similar to riots, strikes are covered under the standalone two-wheeler insurance policy.
Fire & Explosion
Fire and explosion can result in damages to your vehicle resulting in financial loss. New India Assurance standalone policy covers corresponding damages.
Theft
Theft of your two-wheeler can be worrying. Still, with New India Assurance standalone insurance, you can be rest assured as the company offers coverage for similar losses.
Total Loss
In case your vehicle is damaged beyond repair, New India Assurance standalone bike Insurance will compensate you for similar losses based on the terms and conditions.
What All is not Covered Under New India Standalone Two Wheeler Insurance Policy?
Third-party Liabilities
The standalone insurance doesn't cover third-party liabilities like injuries or death of the third-party person or their property damages.
Riding Without a Driving Licence or Policy
New India Assurance two wheeler standalone insurance doesn't cover any damages for the insured vehicle without any driving licence or policy, as it is illegal in India.
Intoxicated Riding
Damage caused to your two-wheeler after consuming addictive liquors or substances isn't covered under the policy.
Wear & Tear
The standalone two-wheeler insurance won't cover your two-wheeler’s depreciation due to wear and tear.
New India Standalone Two Wheeler Insurance Policy Benefits
1. Independent Policy
It is an independent policy, known for offering complete protection to the insured and his bike. In case you already have third-party bike insurance, owning this policy will give you enhanced financial protection against various mishaps.
2. You can Choose Your Policy with Flexible Tenure Options
Ideally this policy comes with 1 year of tenure, wherein a policyholder needs to renew his policy every year, But under long-term policy provision, you can also avail this policy for 2 or 3 years and enjoy uninterrupted perks for the longest tenure.
3. Financial Backing
The main benefit of an own damage policy is that it provides financial backing by covering any damages caused to your bike and making sure that the expenses won't burn a hole in your pockets.
New India Standalone Two Wheeler Insurance Reviews
New India Assurance Ltd was innovated by Sir Dorabji Tata in 1919, as a Transnational General Insurance Company. Still following the footprints of Sir Tata, the company ensures to deliver enriched customer exprience through its wide range of insurance products. The quick and seamless insurance-related services of the company makes it standout in the market.
Add ons for your Two Wheeler Insurance
New India Standalone Bike Insurance FAQs
1. Who can get a New India standalone two-wheeler insurance?
Anyone who has purchased a new or a second-hand vehicle can get standalone insurance from New India. Plus, one also needs to have the mandatory third-party bike insurance.
2. Do I need a vehicle verification before buying New India standalone OD policy?
Your vehicle should be registered in its name with the Regional Transport Authority (RTO) in India.
3. How to claim my New India standalone two-wheeler insurance?
It is an easy process that you can follow up on the New India Asssurance website.
4. Is New India standalone two-wheeler insurance reliable?
Being such an old company with a positive reputation, you do not need to worry about reliability.
5. What is NCB mean in New India standalone bike insurance?
No-claim bonus (NCB) is a reward given by your insurance company on not raising a claim during the policy tenure. You can further use your accumulated NCB to avail discount on your next policy premium.