You've just bought a car and are looking for insurance. You're deciding what type of coverage is right for your needs. Car insurance is essential nowadays. The financial implications of this decision are long-lasting and can sometimes be irreversible. To make a good decision on car insurance, you should know what is available to you and which one will best benefit your specific needs.
New India Assurance has been around for a long time and is considered one of the best car insurance companies in the India. On the other hand, IFFCO TOKIO is an insurance company that works with multiple brands. They are considered one of the most reliable insurers in the country. The question then becomes - which one should you choose? In this article New India Assurance vs IFFCO TOKIO Car Insurance comparison, we will help you to make an informed decision.
IFFCO TOKIO is a very affordable car insurance plan that provides basic coverage for you. New India Assurance is an insurance plan with a premium-based payment. It provides benefits like roadside assistance and accident cover in addition to travel benefits. Whether it is New India Assurance or IFFCO TOKIO car insurance the best car insurance company always provides:-
- Good coverage offered
- Customization of add-ons
- Best customer services
- Claim settlement ratio
- Better price
- No. of cashless garages
- Analyzing car insurance needs
- Financial ability of the company
- Third party liability coverage
- Personal accident cover.
New India Assurance Car Insurance:
New India Assurance Car Insurance is a leading provider of car insurance in India. New India Assurance Car Insurance is a company that offers car insurance for both new and used cars. New India Assurance Car Insurance is a company that offers car insurance for both new and used cars. It's one of the leading providers in the country with over 24,000 employees, 1.3 million customers, and an annual turnover of Rs. 600 crore.
New India Assurance Car Insurance provides cover against theft, fire, accidental damage to your vehicle, loss or damage to your vehicle while traveling abroad and accidents caused by third-party negligence among other things. Their policies are designed to suit your needs and budget.
What is Covered?
- Death or bodily injury to a third party person.
- Damage to third party property.
- 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.
What is Not Covered?
- Wear and tear, breakdowns
- Consequential loss
- Lose when driving with an invalid driving license or under the influence of alcohol.
- Loss due to war, civil war, etc.
- Claims arising out of contractual liability.
| Add-on/Riders |
- Zero Depreciation Cover
- Road tax cover
- No Claim Bonus
- Engine Protect Cover
- Towing Charges
- Co-passenger Cover
- Hydrostatic lock.
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| Types of Policies |
- Standalone OD (Own Damage)for Private Car
- Private Car
- Standalone CPA (Compulsory Personal Accident) Cover.
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| What is covered? |
- Loss or damage to accessories fitted in the vehicle such as stereos, fans, air-conditioners, etc.
- Personal accident cover under private car policies for:
- Legal liability to employees.
- Legal liability to non-fare paying passengers in commercial vehicles.
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*Know more about New India Assurance Car Insurance Article*
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IFFCO TOKIO Car Insurance:
IFFCO TOKIO Car Insurance is one of the leading car insurance providers in Japan. The company has been providing customers with reliable insurance services since 1922. The company offers comprehensive coverage for both personal and commercial vehicles, along with a wide range of optional features, such as roadside assistance and comprehensive protection for rental cars.
IFFCO Tokio caters you the coverage against physical damage to your car, personal damage or injury, and third-party liability like personal injury or death and property damage. IFFCO TOKIO offers a comprehensive car insurance policy is the ideal plan for optimum protection of third-party liability, and personal liability, and is a popular add-on for easy claim settlement.
What is Covered?
- Damage caused due to fire, explosion, and self-ignition.
- Natural calamities like a hurricane, floods, earthquakes, storm, cyclone, etc.
- Loss of procession due to theft, vandalism, burglary, riots, loss in transit by road, inland waterways, external physical damage, and strikes.
- Third party accident, third party property damage (third party damage claim is restricted to 7.5 lacs).
- Get personal accidental claim of 2 lacs including co-passenger cover.
What is Not Covered?
- Lose when driving with an invalid driving license or under the influence of alcohol.
- Wear and tear, breakdowns
- Consequential loss
- Loss due to war, civil war, etc.
- Claims arising out of contractual liability.
| Types of Policies |
- Third Party Car Insurance
- Comprehensive Car Insurance
- Comprehensive Car Insurance with Zero Depreciation Cover.
|
| Add-on/Riders |
- Zero depreciation cover
- Engine Protection
- No Claim Bonus Protection
- Roadside Assistance
- Return to invoice.
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| What is Covered? |
- Comprehensive Car Insurance Covers Accidents, Natural disasters, Manmade Calamities, fire, and Theft.
- Personal Accident Cover is covered up to Rs. 15 lakhs
- Third Party covers losses or damages to third party property or vehicle.
|
*Know more about IFFCO TOKIO Car Insurance Article*
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Comparison of New India Assurance Car Insurance vs IFFCO TOKIO Car Insurance:
Two of India's most popular car insurance companies are New India Assurance and IFFCO TOKIO. Both companies have been in business for decades and provide a reputation for trustworthiness & reliability.
New India Assurance Insurance and IFFCO TOKIO are both great choices when choosing an insurance plan. Both companies offer a wide variety of benefits to their customers, and differ in several ways as well! Let’s take a look at the differences between these two plans, and see which one is better suited for your needs.
|
Key Points |
New India Assurance Car Insurance |
IFFCO TOKIO Car Insurance |
| Claim Settlement Ratio |
85.35% |
84.04% |
| Cashless Garages |
3000+ |
4300+ |
| Solvency Ratio |
2.13 |
1.73 |
| Branches |
2214 |
200+ |
| Claims Settled |
3.73 lakhs |
8.61 lakhs |
*The premiums are displayed according to your details, compare the quotes and buy the policy according to your needs and budget.*
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Car insurance is a vital part of the commute for most people. It protects them from financial loss if their vehicle is stolen or damaged. It offers protection from financial loss in the event of an accident, and it covers damages to a vehicle as well. Car insurance is also important for those who have serious medical conditions that could put them at risk if they get behind the wheel without coverage.
| New India Assurance Car Insurance |
IFFCO TOKIO Car Insurance |
Features:-
- Quick claim settlement
- Instantaneous Purchase
- Wide range of Add-ons
- Claims are settled within 3 days of the application
- The complaint is resolved within 15 days of acknowledgment
- Claim payment is made within 3 days of discharge voucher receipt.
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Features:-
- This plan offers self-damage cover as well as damage to the third party.
- Choosing this plan will help you get up to 70% savings on premiums.
- Quick claim settlement
- Trusted brand by no. of customers since 2000
- Instant policy insurance
- Online Buying/Renewal
- Quick Claim Settlement
- AI-Based Claim Assessment for Damaged Vehicles, Garage, and Branch Locator.
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Benefits:-
- Third party liability covers up to 7.5 lakhs
- The policy also pays for towing charges from the place of the accident to the workshop up to a maximum limit of Rs.300/- for Scooters/Motorcycles and Rs.1500/- for cars and commercial vehicles.
- A restricted cover is also available covering the risk of Fire and/or Theft only, in addition to the compulsory cover granted under the "Liability Only Policy".
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Benefits:-
- Coverage against natural causes like floods, storms, lightning, earthquake, landslide, etc.
- Coverage against manmade causes like burglary, theft, accidental, external damage, etc.
- Coverage for CNG/LPG fuel kit.
- Coverage for loss or damage to electrical or non-electrical accessories.
- The company offers completely transparent products and services so that you know what you are buying
- The claim settlement process of the company is quick and efficient ensuring that you get your claims settled within 4 hours.
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Highlights:
- New India Assurance is the first non-life insurance company to get an 18,000 Cr premium.
- Been a market leader for four 4 decades.
- New India Assurance is the only Global Insurance company with a presence in over 28 states.
- New India Assurance has a total Assets of 61,720 Cr. and a total Net worth of 28,895 Cr.
- New India Assurance Add-on covers
- Get the New India Assurance add-on covers for extended benefits in case of any mishap.
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Highlights:
- The company offers completely transparent products and services so that you know what you are buying
- The claim settlement process of the company is quick and efficient ensuring that you get your claims settled within 4 hours
- The company has various awards in its name which make it a reputed company.
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How to Buy Best Car Insurance Policy?
Compare car insurance policy rates online in India with PolicyBachat and select the one that meets most of your financial expectations. You can easily get multiple car insurance quotes online from the best car insurance companies in India.
- Fill required details at the top of this page, and select your car model, RTO Location, registration date, and email address.
- Click on the START SAVING MONEY
- Premiums with different insurance companies are displayed with low premiums
- Select required add-ons/riders and discounts, or
- Even you can edit policy details
- After that fill in the vehicle owner details and owner details
- Purchase the best car insurance policy using online payment
- If any queries are raised call: 1800-123-4003.
PolicyBachat insurance market is huge and offers a wide range of car insurance plans at economical rates. At present, several insurance companies provide reliable car insurance plans. The insurers offer unique features and personalized facilities to cater to different sorts of customer needs.
Conclusion:
To protect the policyholder from unfortunate damages which make an adverse impact financially, it is better to be insured. Check all the features and benefits of New India Assurance vs IFFCO TOKIO before concluding the right insurance policy. Configure the premium with the benefits availed on New India Assurance vs IFFCO TOKIO, compare car insurance quotes from top insurers online on PolicyBachat.com.
Select the car insurance company which has all the features and benefits that you are looking for. To make a better decision, you should make sure to know all the required information above and go for the one which gives the best coverages at good prices.