Looking for New India Assurance vs Kotak Mahindra Car Insurance Comparison, Key Benefits, and Features to Buy best Car Insurance Policy.PolicyBachat is helping you find the best car insurance that fits your requirement. Comparing car insurance quotes from distinct carriers is a daunting process.
Comparison of insurance online leads to cost efficiency due to low operating costs to maintain online. PolicyBachat helps to calculate the pros and cons of the policy and buy the desired policy. PolicyBachat gives you the distinction between the carrier backgrounds, incurred claim ratio, network garages to configure the right insurance policy.
New India Assurance Company
New India Assurance Company is a Mumbai-based company that provides insurance service Globally, founded in Dorabji Tata in 1919 and was nationalized in 1973. New India Assurance Company is the largest General Insurance Company limited in terms of premium amount Globally. This amount of insurance.
Every vehicle owner needs to possess a motor insurance policy as per the Motor insurance Act 1988. An owner should carry an insurance policy.
Car insurance policy can be availed under two situations
Primary, third party liability insurance policy secures the policyholder from third-party accidental and property damage.
Third party liability covered up to a maximum limit of 7.5 Lacs in case of accidental death.
Secondary, comprehensive car insurance policy protects from personal accident, damage to a vehicle the extent of a claim depends on the policy you choose with the add-ons.
New India Assurance: Best for TP & Old Cars:
The New India Assurance Company is famously known for its Third-party coverage of any type of car and commercial vehicle. When most of the private insurance companies are avoiding the Third-party business due to the heavy loss ratio associated with it, New India Assurance Company has welcomed all classes of vehicles to be insured for the third party car insurance.
The third-party premium is decided by the Insurance Regulatory and Development Authority of India and is to be followed by every insurance company. The third-party section covers the loss of life or total disability of the third parties in an accident. The property damage to a third party is also settled under the Third-party section of car insurance.
In India, there are many vintage cars and old cars which are above 15 years of age, while most of the insurance companies restrict themselves from insuring the cars aged above 10 years New India Assurance Company ensures every car at any age depending on the fitness certificate and the registration validity obtained from the local RTO office.
Car insurance for cars aged above 15 years can be done from the New India Assurance Company by mutually deciding on the IDV, which is the maximum liability of the insurance company in the event of any claim.
The policyholder can cover the loss due to
- Burglary, theft, and vandalism
- Strikes or riots
- Fire, explosion, and self-ignition
- Malicious act and Terrorist act.
- Flood, storm, hurricane, cyclone, other natural calamities, etc.
- Accidental damage through any other external factors
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 its 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.
New India Assurance car insurance Add-on covers
Zero depreciation cover
Get zero depreciation cover to avail the optimum benefits at the time of claim settlement, get rid of depreciation at the expense of plastic, fiber, rubber, and glass parts. Get a 100% claim on these parts for repairs/ replacement.
Roadside assistance
In case of an emergency breakdown of your vehicle, the New India team will assist you in emergency situations for fuel filling, towing, flat tires, and repairs.
Co-passenger cover
New India Assurance co-passenger cover avails you 2 lakhs personal accident cover and up to 1 lakh co-passenger cover.
Hydrostatic lock
In case of engine damage due to heavy rains or floods, the New India Assurance hydrostatic lock add-on cover helps to avail coverage of repairs and replacement of damaged parts. This add-on is applicable to vehicles aged less than 5 years.
Exclusions of New India Assurance car insurance policy
Drunk & Drive
Driving a vehicle under the influence of alcohol is an offense by a court of law and accidents made under influence of alcohol cannot be claimed.
Planned accident
Staged accidents are offenses, organized accidents to get the claim is void. In staged accidents, your entire policy will lapse.
Commercial use
If the policy is registered for personal use and the actual activity of the vehicle is for commercial use. Improper disclosure of vehicle, use will void the New India Assurance car insurance plan.
Valid license
If a person driving a vehicle without any valid license will lapse your entire policy and a policyholder cannot claim compensation for damage caused by wrong side driving.
As New India Assurance Company has a brand reputation in the market for claiming high premiums to the policyholders. As New India Assurance is the oldest and highly trusted company in the insurance sector most of the customers prefer this company because of its low insurance premium. New India Assurance has its own trusted customers who experience hassle fee claims.
Kotak Mahindra Car Insurance
Kotak Mahindra General Insurance company is a subsidiary of Kotak Mahindra Bank Ltd started its operations in 2003. Kotak Mahindra general insurance company is a renowned insurance company that caters to the needs of car insurance, health insurance, and two-wheeler insurance.
Kotak Mahindra general insurance company incepted in 2015, during the year Kotak Mahindra received 6 lakhs premium and incurred a claim amount of 26 Lakhs. Because it is an inception year it is quite natural to incur a claim amount of more than a premium. Kotak Mahindra General Insurance has resolved the claim within 6 months. Kotak Mahindra insurance company committed to providing
insurance claim proves the reliability of the company.
As Kotak is entrenched in Kotak insurance company striving to be successful in Kotak General Insurance Company. Kotak Mahindra is unique in providing efficient service to the customers.
Features:
- Customized products and services
- High claim ratio settlement
- Digital infrastructure
- Efficient processing of claim settlement
- Customer-centric ratio
- Extensive range of add-on to choose
- The easy and fast documentation process
- Reliable and efficient service
Kotak Mahindra car insurance Add-on covers
Consumables cover
Expenses incurred on consumables nuts, bolts, brake oil, engine oil are claimed in case of any damage repairs Kotak Mahindra consumables cover is helpful.
Zero depreciation cover
Get
zero depreciation cover to avail the optimum benefits at the time of claim settlement, get rid of depreciation at the expense of plastic, fiber, rubber, and glass parts. Get a 100% claim on these parts for repairs/ replacement.
Co-passenger cover
Kotak Mahindra co-passenger cover avails you 2 lakhs personal accident cover and up to 1 lakh co-passenger cover.
Roadside assistance
In case of an emergency breakdown of your vehicle, the Kotak Mahindra team will assist you in emergency situations for fuel filling, towing, flat tires, and repairs.
Medical expenses
Get Kotak Mahindra medical expenses cover 10,000 0for treatment and medication.
Hydrostatic lock
In case of engine damage due to heavy rains or floods, Kotak Mahindra hydrostatic lock add-on cover helps to avail coverage of repairs and replacement of damaged parts. This add-on is applicable to vehicles aged less than 5 years.
A policyholder can choose the required add-on to protect from any hazards, Kotak Mahindra gives you extensive add-on options for optimum coverage of your vehicle and personal too.
Why Kotak Mahindra car insurance policy?
To secure from unexpected financial loss and mishap every car owner needs a car insurance policy, picking up your right insurance policy is necessary for hassle-free claims. Our genuine claim settlement in adverse cases makes us be in this competing market, we assure our customers of easy and fast claim settlement.
Get a Kotak Mahindra four-wheeler insurance policy online instantly without any documentation process, also, get a Kotak Mahindra car insurance renewal plan instantly online with 2 easy steps.
Click here for Kotak Mahindra car insurance product copy download or get assistance through Kotak Mahindra customer care toll-free number.
How to compare the best car insurance quotes
Comparing car insurance quotes from distinct carriers is a daunting process. PolicyBachat.com made your work easy by showing a comparison of genuine websites. Comparison of insurance online leads to cost efficiency due to low operating costs to maintain online.
PolicyBachat helps to calculate the pros and cons f the policy and buy the desired policy. PolicyBachat gives you the distinction between the carrier background, claim settlement ratio, network garages to configure the right insurance policy.
Get the top carrier quotes to distinguish the best insurance plan in terms of premium, coverage, and holding experience in the insurance sector. At Policybachat, a user can buy/renew a car insurance policy by simple easy steps instantly. Policybachat is an IRDAI approved web aggregator that provides the best services to its customers.