- About Coverfox
"Protect your two wheeler with an insurance policy from New India Assurance one of the largest public insurance company in India.
Get a third party liability only two wheeler insurance policy to make your complaint as per the Motor Vehicles Act, 1988. With this policy you are protected against any legally liable arising out of damages to third parties as a result of accidental death, bodily injury or damage to property.
New India Assurance Two Wheeler Insurance Company offers hassle-free claim settlement
"If you want higher level of protection you can buy New India Assurance Package Policy which in addition to the coverage under liability only, this policy covers loss or damage to the insured vehicle and its accessories"
Two wheeler Insurance Policy can be tailor-made for any private vehicle to get insurance. It is important to understand the coverage before actually opting for a two wheeler insurance policy. It is essential to cover your bike sufficiently to protect it from theft, damage or accident.
This policy covers any damage or loss to your two wheeler due to any of the following things:
This policy is mandatory by the Motor Vehicle Act 1988 for all the vehicles plying on the Indian roads. It offers the below coverage:
New India Two wheeler insurance offers amazingly unique add-on covers that offers an extra touch of protection at a minimal rate. These add-ons enhances your basic insurance policy by paying an additional premium.
Under the core insurance policy the cost of the depreciable parts of your two wheeler are not covered fully in case of repair or replacement at the time of claim. Deducted depreciable cost of repair or replacement is paid by the insurer even after holding a policy at the time of claim.
To save money on such repair or replacement of depreciable vehicle parts such as rubber, metal, plastic, nylon, fiber, etc. at the time of claim due to the perils mentioned in the Own Damage section of the policy, New India Assurance offers an add-on cover – Nil Depreciation or Zero Depreciation. With the help of this add-on cover the policyholder saves ample of money on repair or replacement of depreciable vehicle parts. The cost is fully covered by the New India Assurance if this add-on cover is bought in addition to the Package Policy.
No Claim Bonus
You are eligible for a NCB discount on your own-damage premium for every claim-free year .It starts with 20% for the first year and can go as high as 50% over 5 consecutive claim-free years. The best part is you can retain this discount, even if you wish to sell the current bike and purchase a new one.
The following table shows the NCB grid:
|No. Of Years||Discount|
|One claim-free year||20%|
|Two consecutive claim-free years||25%|
|Three consecutive claim-free years||35%|
|Four consecutive claim-free years||45%|
|Five consecutive claim-free years||50%|
A deductible is nothing but an amount that you need to pay out during an accident or mishap. This deductible plays a major role in determining your two wheeler insurance premium.
Higher the deductible, lower would be your two wheeler insurance premium. If you know you are a safe and responsible driver, opt for a higher voluntary deductible. This will help in getting the lowest two wheeler insurance
Membership of AAI
If your bike is a member to any of the recognized Automobile Associations of India then can fetch you an extra discount
Installation of security devices
If your two wheeler is fitted with ARAI approved anti-theft devices, you are eligible for an additional discount up to 2.5% on your own-damage premium.
Step-by-step Claim process and documents:
a) In case of Accident
b) In case of Theft
c) In case of Third Party Claims
Step-wise guide to claim:
The New India Assurance Two wheeler Insurance offers a good range of coverage and there is option for add-on benefits to customize the requirements of the insured. These along with the clear cut direction of claim process makes it the right choice for your two wheeler insurance. This Company ensures 24*7 customer support and an excellent claim settlement process too. Their excellent inspection team offers you high service standards. Therefore, The New India Assurance Two wheeler Insurance for your beloved bike is a must buy!
The common parameters that are taken into consideration while evaluating the eligibility for a two wheeler for insurance from New India Assurance are:
IDV (Insured Declared Value): IDV is the sum insured opted for by the policyholder and is the difference between the selling price of the two wheeler as set by its manufacturer and expenses towards taxes, registration charges, and premium amount for two wheeler insurance from New India Assurance.
Age of the vehicle: The greater the age of the insured two wheeler, the higher will be the premium amount for a two wheeler insurance from New India Assurance.
Capacity of the two wheeler: The cubic capacity of the insured two wheeler determines the degree of risk that it may be exposed to. The higher the cubic capacity, the higher will be the premium amount for two wheeler insurance from New India Assurance.
Location of the policyholder: A policyholder who is the resident of a city has a higher chance of getting into an accident as compared to a policyholder who lives in a town and, hence, will have to pay a higher premium. Further, a policyholder from a conflict-ridden location has a lower probability of raising a claim than residents of other areas, therefore, increasing his/her premium amount.
Additional riders: Add-on riders offer additional benefits as compared to basic insurance plans. Therefore, they can be purchased through additional charges, over and above the premium for the basic plan. Therefore, the more add-on riders you opt for, the higher will be your premium payment for two wheeler insurance from New India Assurance.
Here’s the list of documents that an applicant needs to furnish for raising a two wheeler insurance claim from New India Assurance: