New India Third Party Bike Insurance
- Only Indian General Insurance Company operating in 28 countries
- Claim settlement ratio 93.96% as on FY 18
- 24*7 Customer assistance
- More than 588 branches nationwide
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New India Third Party Bike Insurance
New India Assurance General Insurance has been successfully providing assistance to thousands of people during the unfortunate events of life. New India Assurance bike insurance helps the policyholders to fulfil the statutory requirement of the Indian Motor Tariff with its third party bike insurance policy. The New India third party bike insurance also provides peace of mind by relieving the policyholders from the burden of legal and financial liabilities of the third party.
New India Assurance General Insurance has a user-friendly set up to enhance the experience of the policyholders. The third party bike insurance policy covers damage, injury or loss of the third party caused by the insured’s bike.
New India Third Party Bike Insurance vs Comprehensive Bike Insurance
Basis | Third Party Bike Insurance | Comprehensive Bike Insurance |
Coverage | It provides coverage for the legal and financial liabilities of the third party only. | It provides coverage for third party liabilities as well as for the own-damages of the insured’s bike. |
Nature of Requirement | It is a mandatory requirement according to the Indian Motor Tariff. | It is an optional purchase which depends on the preference of the policyholders. |
Add-ons Availability | There is no add-on option available along with this policy. | A variety of add-ons are offered to the policyholders along with this policy. |
Cost | Its limited coverage makes it cost-effective for the policyholders. | It provides extensive coverage and therefore it has a relatively higher premium. |
What All Is Covered Under New India Third Party Bike Insurance Policy?
The New India third party bike insurance policy provides coverage for the following:
- Financial liabilities of third party property damage: This policy provides coverage for any property damage of the third party caused by the insured’s bike. The insurer provides coverage for the third party property damage up to Rs. 1 Lakh.
- Bodily injuries/loss of life of the third party: The insurer provides compensation for bodily injuries, disability or loss of life of the third party caused in any accident involving the insured’s bike. The compensation, however, is decided by a court of law.
What All Is Not Covered Under New India Third Party Bike Insurance Plan?
A third party insurance plan is mandatory to be owned by every bike owner. It is beneficial to cover the third party expenses, but holds a limited coverage. Below are some important points which are not covered under the third party insurance policy:
- No coverage is given for injuries suffered by customers.
- No coverage is offered for damages caused to the insured bike.
- Optional personal accident plans for policyholders is not provided.
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New India Third Party Bike Insurance FAQs
Why is a third party bike insurance needed?
A third party bike insurance is needed for the following reasons:
- It is mandatory as per the Indian Motor Tariff act. One can get penalized for not having the policy.
- It provides financial support for third party liabilities in case of an accident.
What documents do I need to buy the New India third party insurance policy?
You require the following documents for buying the New India Assurance third party bike insurance policy:
- Photo ID proof and address proof (Aadhar card, Voter Id, PAN Card or Passport)
- The Copy of the valid driving license
- The registration number of bike
- The RC certificate
How can I purchase the New India Assurance third party bike insurance?
The New India Assurance third party bike insurance can be purchased in the following ways:
- By visiting the nearest branch
- By visiting the official website of New India Assurance
- By dialling the helpline number 1800 209 1415
What should be done if the policy documents are lost?
An F.I.R. has to be registered immediately after the New India Assurance third party bike insurance policy documents are lost. Then a written request along with the copy of the F.I.R.has to be submitted to the insurer. The insurer will provide a copy of the original documents after verifying the details.
What is the payment process of the premium of the third party bike insurance policy?
The premium of the New India Assurance bike insurance policy can be made in the following two steps:
- By cash at the nearest branch.
- By debit card, credit card or net banking.
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