New India Assurance Bike Insurance

Ravi loved his bike. To him, it wasn't just a vehicle, and that was why his dad kept reminding him to get comprehensive bike insurance. Ravi didn’t listen to his dad and enjoyed his daily companion on the chaotic roads of a bustling city and saw it as a ticket to his weekend adventures. Every Saturday, like a ritual, Ravi would buckle his helmet and ride out to the nearby hills. There was something so blissful about the whir of the engine, the wind rushing past his face, and the open road that awaited him. For him, his bike was alive; it was his trusted buddy.

But then came the day Ravi’s father dreaded most. A sudden collision left his beloved bike battered and unrideable. The joy and freedom he cherished were replaced with worry and regret. The repair costs were steep, and Ravi realised too late that he had overlooked the importance of having robust bike insurance.

Have you ever thought about how you would feel in such a case?

Imagine it was your dear, sweet bike damaged by an accident. Or worse, what if it was stolen or natural calamities or unforeseen mishaps led you to not have your bike with you?

Ever felt that worry creeping up? Worry no more. New India Assurance Bike Insurance is there to help all bike lovers, including Ravi. Keeping in mind minor mishaps or bad accidents, this policy always keeps your prized vehicle safe. So, what's stopping you? Let's uncover why this policy is the ultimate safety net for your two-wheeler adventure ride.
 

New India Assurance Bike Insurance Policy

Imagine having a safety net every time you take your companion out for a ride. New India Assurance Bike Insurance is exactly that safety net. Before we get into the details, let’s first break down what bike insurance really is. Also known as a two-wheeler insurance policy, it’s essentially a contract between you, the bike owner, and your insurance provider.

This policy agreement covers damages to the bike, third-party liabilities, and personal injuries to the bike owner in exchange for premiums paid. The policy will ensure compensation for uncertain instances like natural calamities and theft, giving comfort to every bike owner.

Every day, thousands of bikes and two-wheelers are on the roads, cramping up our streets. But amidst the chaos of numerous vehicles fighting for space, do you ever care about road safety? Here are some shocking statistics that will make you think:

There were 63,115 reported accidents in 2022. And worse, two-wheeler accidents accounted for a whopping 41.5% of all accident deaths on India's National Highways.

These statistics raise a critical question: Is your bike and you protected against unforeseen circumstances?

Owning reliable bike insurance means more than mere compliance with the law; it provides financial security for life's unpredictability. Third-Party Liability Insurance Policy, at the least, is required by law to be held by every bike owner in India. The law has been stringent for two-wheelers. Since September 1, 2018, all vehicles are required to be insured, mandating a five-year third-party liability cover.

What if one does not have valid insurance coverage for their ride? Not to mention accidents, one is open to massive fines and lawsuits. Does such a risk seem worth the hassle?

Although third-party liability insurance is compulsory, a comprehensive two-wheeler insurance policy is optional but very much recommended. Come on; would you not want that extra protection of your bike from theft, damage by someone else, or natural calamities? Here is where the comprehensive policies from New India Assurance come into the picture. The policies are really wide-ranging and provide bike owners with security in whatever road conditions may come along.

Let's further delve into the New India Assurance Bike Insurance details to understand why this is one of the choices for the safety of your cherished possessions.
 

Features and Benefits of New India Assurance Two-Wheeler/Bike Insurance Policy

New India Assurance Two-Wheeler/Bike Insurance: Protects and covers bike owners against various risks or unforeseen situations for complete peace of mind. Some of the best features and benefits that are available to insured individuals of the policy include:

• Own Damage Cover: The policy provides coverage for damages to your insured bike, whether caused by an accident, natural calamities, or man-made disasters.
   
• Third-Party Liability Coverage: The policy covers you against third-party liability arising from injury or death caused to a third party or damage to their property resulting from the insured bike. This is a legal requirement that provides you with cover in the event of unexpected costs.
   
• Comprehensive Coverage: Comprehensive bike insurance provides all-round protection with a combined cover, which includes third-party liability and own damage coverage. The comprehensive policy will ensure that your bike is fully covered for all liabilities and damages.
   
• No Claim Bonus (NCB): Save significantly on your premium with the No Claim Bonus. If you don’t raise any claims during the policy year, New India Assurance will provide you with benefits that can be used when you renew your policy. These premium discounts range from 20% to 50%, depending on your type of vehicle and claim-free years—an excellent incentive for safe and responsible riding.
   
• Cashless Repairs: Cashless repairs at more than 3,000 network garages across the country. This facility allows you to get your vehicle repaired at network garages without the need to pay upfront, as the insurance company directly settles with the garage on its bills while processing claims.
   
• Add-On Covers: The New India Assurance offers optional add-ons to enhance the protection of your policy. These add-ons have been well-designed to provide coverage for specific circumstances, thus giving you tailored protection.
  • Nil Depreciation Cover: This add-on ensures that depreciation on bike parts is not deducted from the replacement or repair claim. If depreciation is applied, it will be reimbursed, provided the claim meets specific terms and conditions.
     
  • Consumables Cover: This add-on pays for the cost of consumables damaged or lost in an accident. Covered consumables include screws, nuts, bolts, washers, bearings, clips, engine oil, gearbox oil, brake oil, grease, lubricants, distilled water, and more—excluding fuel. It ensures these essential components are replaced, repaired, or replenished without additional expenses.
     
  • Return to Invoice Cover: If your bike meets a total loss, damage, or theft, the add-on pays for compensation to the extent of the original invoice value of your bike (current market value or Insured Declared Value, IDV). It ensures that the insurer reimburses the full purchase cost, including the on-road price, road taxes, and registration fees.
     
  • Road Tax Cover: This add-on provides reimbursement for road tax you might need to pay for replacing the vehicle if your bike is declared a total loss due to a major accident. The insurer covers the road tax amount specified in the policy, ensuring you’re not burdened with additional expenses when your vehicle is declared a total loss.
     
  • Roadside Assistance Cover: This will ensure help is just a call away in case of an emergency during the journey. It offers services like towing, on-the-spot minor repair, assistance in refuelling, and much more, providing peace of mind when you are travelling.
     
  • Engine Protect Cover: This add-on covers the cost of replacement or repair of the engine, gearbox, or differential assembly, protecting some of the most critical components of your bike. The settlement is based on the cost of new parts and is subject to the policy terms and conditions.

This policy also provides additional personal accident cover for the owner-driver and extended third-party property damage cover for enhanced protection.

New India Assurance Bike Insurance provides a variety of options to choose from. Keep scrolling to learn more about each of them.
 

Explore The Various Types Of New India Assurance Two-Wheeler/Bike Insurance Insurance Policy

All varieties of two-wheeler insurance policies from New India Assurance are stated below:

• Liability Only Policy
  A liability-only policy deals solely with your third-party liability. This covers third-party liability for bodily injury or death and damaged property caused by your insured vehicle. It also caters to providing Personal Accident covers for the owner-driver.
   
• Comprehensive / Package Policy
  This comprehensive bike insurance policy has the advantage of providing two-in-one benefits. It covers damages to your own vehicle and also includes all the protection provided under the Liability Only Policy.
   
• Standalone Own-Damage Policy
  This cover guards your bike against accidents, theft, and natural or man-made mishaps. This can be purchased alone but requires to be coupled with a valid third-party liability cover for the total coverage.
   

New India Assurance Bike Insurance: What’s Covered?

New India Assurance bike insurance provides a wide range of coverage. Let’s explore the various aspects of the coverage provided:

• Third-Party Liability: It covers claims arising from damages or death suffered by a third party. This also provides liability for damages done to third parties' property using the insured motor vehicle.
   
• Coverage For Loss Or Damage To The Insured Vehicle: It pays for damages arising from fire, explosion, own derelict or any other accidental incident. Provides compensation for damage during transit through land, air, inland waterway, lift, elevator, or roadways. New India Assurance bike insurance provides coverage against damage due to natural disasters such as lightning, floods, landslides, hurricanes, storms, cyclones, or earthquakes. It also provides protection against man-made incidents like burglary, theft, riots, strikes, malicious acts, and terrorist activities.
   
• Personal Accident Cover for the Owner-Driver: It provides personal accident cover to the owner-driver holding a valid driving license. Medical expenses in case of an accident are covered by this bike insurance. Keep in mind that a predetermined sum assured is payable in case death occurs due to an accident, and the nominee will receive a payout. This type of cover does not apply to company-owned vehicles.
   
• Comprehensive Cover for Theft and Total Loss: It offers the benefit of paying an amount equal to the current market value of a vehicle in cases of theft and total damage, beyond repair, to the insured bike.

Note: The coverage will be determined by the benefits and add-ons available under the plan according to the terms and conditions outlined in the policy wording.

Wondering what’s not covered? We’ve got you! Check out the exclusions below to avoid any surprises when you need to claim:
 

New India Assurance Two-Wheeler/Bike Insurance Policy: What Is Not Covered?

Although having an extensive range of coverage options, New India Assurance bike insurance does have some exclusions. Let’s check them out -

• Outside Geographical Limits
  Any loss, damage, or liability arising outside the defined geographical area of the policy.
   
• Contractual Liabilities
  Claims arising from liabilities agreed upon through a contract.
   
• Misuse or Unauthorised Use\
  Loss or damage caused when the vehicle is used beyond the permitted purpose or by someone not authorised under the  Driver’s Clause in the policy.
   
• War and Related Risks
  Damages, losses, or expenses caused by war, invasion, actual or threatened civil unrest, rebellion, or similar events.
   
• Nuclear Activities
  Any accidental loss, damage, or liability arising directly or indirectly due to nuclear weapons material.

Note: While these are common exclusions, each policy has its own specific terms. The complete list of exclusions under New India Assurance Bike Insurance is detailed in the policy wordings. For a clear understanding of what isn’t covered, including specific conditions and exclusions, be sure to review the policy document thoroughly.
 

How To Buy New India Assurance Two-Wheeler/Bike Insurance  Policy from SMC?

Buying a New India Assurance Bike Insurance policy through SMC is quick and hassle-free! Just follow these simple steps:

• Visit SMC's Official Website
  Head over to SMC’s site and navigate to the "Two-Wheeler Insurance" section under the General Insurance option.
   
• Provide Vehicle Details
  • Enter your vehicle's registration number.
  • If you are unaware of the registration number, you can provide basic details like the model/make of the bike, fuel type, variant, and RTO location, etc., instead. You should also indicate whether it is a private or commercial vehicle.
     
• Quotes Page
  You will be taken to the Quotes Page, which reflects quotes from different insurance companies.
   
• Select and Customise
  Choose the policy from New India Assurance that fits your needs, and add additional covers or riders if needed.
   
• Pay and Get Your Policy Document
  Process the payment and ensure that you get the payment receipt. You can also download the policy documents for future reference.

Wondering how to renew your existing bike insurance policy? Read on to find all your questions answered!
 

How To Renew New India Assurance Two-Wheeler/Bike Insurance Policy From SMC?

Follow these easy steps to renew your New India Assurance Bike Insurance policy through SMC:

• You will receive a renewal link from SMC as the renewal date is nearing via text messages and email.
• You will be led to the renewal page by clicking on the link. It will take you directly to the insurance company portal.
• Enter your policy number and all other details required.
• You can update or change information if required. This step is optional.
• Very cautiously go through all the policy details and get the same corrected if there are any changes.
• Complete the renewal process by paying the premium through your preferred payment mode.
• Once the payment is done, a confirmation note will be sent to your registered mobile and email.
• A PDF copy of your renewed policy will be sent to your registered email for later use.
   

How To Claim New India Assurance Two-Wheeler/Bike Insurance Policy From SMC?

Filing a claim for your New India Assurance Bike Insurance policy through SMC is easy. Here's how:

• Visit SMC's official website to initiate your claim request.
• SMC's team will gather your personal details and claim-related information.
• This information will be shared with the insurer for processing.
• The insurer will review your claim and supporting documents, granting cashless approval if applicable, and other such processes.
• You will receive the decision taken by the insurance company, and the service team at SMC will assist you further in the settlement of your claim.
• If you are required to furnish any more information or documentation, you will be intimated about the same, and you may forward the information/documents for processing further.
• On successful completion, you will get a confirmation message on the approval of your cashless or reimbursement claim.
   

What’s The Role Of SMC In Claim Settlement?

Over 2.04 million claims have been settled by SMC, thus establishing itself as a reliable and trusted partner in the claims settlement process. Through a clear, step-by-step process, SMC guides you through the process of claims settlement, ensuring that you are fully informed of the documents needed. The company is always available round-the-clock to clarify all questions and address your concerns throughout the process.

The claims process for your New India Assurance two-wheeler insurance is made much easier by the assistance provided by SMC. With their help, you get what you are entitled to receive as compensation from the insurer. The process is normally stressful and overwhelming, but it becomes relatively smooth and pleasant with SMC.

While filing an insurance claim can be challenging, it is made much easier when well-prepared with SMC's support.
 

Documents Required To Claim New India Assurance Two-Wheeler/Bike Insurance

The following documents should be ready when you file a claim under your New India Assurance Bike Insurance policy:

• A properly filled and signed claim form.
• A copy of the valid driving license.
• Copy of the vehicle's registration certificate (RC).
• Copy of the insurance policy document.
• An FIR if the claim involves death or bodily injury.
• The original repair estimate slip or repair invoice.

Ensure you have all the documents to avoid delays in the claims process. Note that different types of claims and policies, such as own damage or third-party liability, may require different documents.
 

Depreciation Rate According To Different Parts Of Two-Wheeler Insurance Policy

The insurer will cover the loss or damage to the insured vehicle, with a depreciation deduction applied as per the specified rates for the replaced parts.

Depreciation According To The Age Of The Vehicle In A Two-Wheeler Insurance Policy

Let’s look at the depreciation percentage according to age of the vehicle-

Wrapping It Up,

The story of Ravi shows us that the journey is unpredictable, but great preparation makes all the difference. New India Assurance Bike Insurance does not simply provide a policy; rather, it provides peace of mind, making sure every ride is warranted against uncertainties of life.

Whether you are organising weekend getaways or navigating your daily grind, this policy makes you ride stress-free. Now, why are you leaving such a beloved possession unguarded? Take a move toward securing both your bike as well as all your adventures using New India Assurance Bike Insurance right now. Know about bike insurance in detail as well.
 

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