New India Assurance Co. Ltd. was founded in the year 1919. It is a multinational general insurance provider that is operating in about 28 countries as of today and has its headquarters in Mumbai, India. They have been the market leaders in India for the business in non-life for over 40 years. The company holds the highest degree when it comes to financial strength to honor the obligations of the policyholder and have been rated AAA/Stable by the CRISIL since the year 2014.
It is compulsory to hold a basic motor insurance policy in the UAE as per the law. There are also various benefits associated with holding a car insurance policy. New India Assurance car insurance is one of the top policy options in the UAE, and this thread will focus on the various features and benefits of the same.
The New India Assurance car insurance policy covers all kinds of vehicles on the roads such as:
- All kinds of commercial vehicles
- Private cars
Features of New India Assurance Car Insurance
New India Assurance offers three variants of motor insurance, the types and their features are detailed below:
Motor Comprehensive Insurance
A comprehensive car insurance policy covers the insured vehicle against any loss, damage to the car, the accessories of the car, and its spare parts because of:
- An accident or accidental overturning or collision caused to the car.
- External explosion, fire, lightning, thunderbolt, and self-ignition caused to the insured car.
- Theft and burglary conducted in regard to the motor vehicle.
- Any malicious act conducted by a third party on the insured vehicle.
- While the vehicle is in transit by rail, road, inland waterway, lift or elevator, related to the said transport. The transit including the procedure involved in unloading and loading incidental to the transit.
There are also additional covers that can be taken on top of the base policy. These optional add-on covers are subject to a satisfactory claim ratio. Some of these covers are:
- Personal Accidental Benefits to the driver
- Personal Accidental Benefits to the passengers
- Rent a car benefit
- Cover against any damages caused by natural calamities
- Off-road cover for four-wheelers and individual private vehicles
- Damage and repair benefit for any damage caused to the windscreen of the car
- Agency repair in case of damage to the insured vehicle due to an accident or breakdown
- Roadside assistance in case of collision or breakdown of the insured vehicle
Motor Third Party Liability Insurance
The car insurance provider shall be liable to compensate the policyholder in event of an accident that is either caused by or is arising out because of the usage of the vehicles subject to the specified policy limits in the policy contract. The New India Assurance Car Insurance policy for third party liability insurance covers the owner’s legal liability that requires him or her to compensate for the following:
- Bodily injury or demise of a third party including any of the passengers in the vehicle
- Any damage caused to the property of the third party
Motor Fleet Comprehensive Insurance
This is the ideal coverage policy for a business with large fleets of commercial vehicles. This includes trucks, vans, buses, pickups, etc.
However, a group of vehicles exceeding the number of 6 vehicles can also be qualified for a fleet coverage policy. The customer can either select a third party liability cover, a comprehensive cover, or a mix of both of these covers.
Benefits of New India Assurance Car Insurance
The following are the benefits of opting for a car insurance policy:
- Loss of Vehicle or Damage to Vehicle: In case the insured vehicle is ever damaged because of an accident, self-ignition, and fire, you will be covered with a motor insurance policy. Furthermore, if the insured vehicle faces any losses because of theft or burglary, riots, strikes, etc. your policy will cover these.
- Personal Accident Rider: You can add this cover to your base policy at a pre-determined amount. This provides a personal accident cover for you or the other passengers in case of any permanent or total disability or demise due to an accident.
- Third Party Liabilities: If the insured vehicle is involved in any sort of accident the loss or damage caused to the third party will be covered by the insurance provider. You are also protected against any legal liabilities in case of any bodily injury or demise of a third party.
- Large Network of Agencies: There is a wide range of agencies where you can avail the agency repair add-on.
- No Claim Bonus: One of the biggest advantages of holding a car insurance policy is an NCB or no claim bonus. The customer is eligible to enjoy this benefit for every claim-free year. This may lead to a discounted premium. Thereby, making car insurance even more affordable.
The Bottom Line
New India Assurance car insurance is offered to the policy seekers at affordable costs with an easy claim procedure. The customer service is easily accessible to resolve any customer queries and can easily be reached by calling the helpline number.