It is mandatory for every owner of a vehicle plying on public roads, to take an insurance policy. This Motor policy of New India Assurance Company Limited covers all types of vehicles plying on public roads such as:-

Scooters & Motorcycles
Private cars
All types of commercial vehicles
Motor Trade (vehicles in show rooms and garages)

A Certificate of Insurance must be carried in the vehicle as a proof of such insurance.

Two types of covers are available:

Liability only policy-

This covers third party liability for bodily injury liability and / or death and property damage.
Personal Accident cover for Owner-driver is also included.

The policy covers the vehicle owner's legal liability to pay compensation for:

Death or bodily injury to a third party person
Damage to third party property

Liability is covered for an unlimited amount in respect of death or injury and damage to third party property for Rs.7.5 lacs under Commercial vehicle and private and Rs. 1 lakh for Scooters / Motor Cycles.

Package Policy

This cover loss or damage to the vehicle

In addition to the coverage under liability only, this policy covers loss or damage to the insured vehicle and its accessories due to:

Fire, explosion, self-ignition or lightning.
Burglary, housebreaking or theft.
Riot and Strike.
Malicious Act.
Terrorist Act.
Earthquake (Fire and Shock) Damage.
Flood, Typhoon, Hurricane, Storm, Tempest, Inundation, Cyclone and Hailstorm.
Accidental external means.
Whilst in transit by road, inland waterway, lift, elevator or air.
By landslide/Rockslide

The policy also pays for towing charges from the place of accident to the workshop upto a maximum limit of Rs.300/- for Scooters/Motorcycles and Rs.1500/- for cars and commercial vehicles.

The important exclusions under the policies are:

Wear and tear, breakdowns
Consequential loss
Loss when driving with invalid driving license or under the influence of alcohol.
Loss due to war, civil war, etc.
Claims arising out of contractual liability.
Use of vehicle otherwise than in accordance with `limitations as to use ' (e.g. private car being used as a taxi)

Rating factors

Rating depends upon the following factors:

IDV.
Cubic capacity
Geographical zone
Age of the vehicle
GVW of in case of commercial vehicles
Add on Covers

Contact-

Corporate Head office Address:
The New India Assurance Co. LTD.
87, M.G. Road, Fort,
Mumbai 400 001.