National Car Insurance Vs. New India Car Insurance

National Car Insurance Vs. New India Car Insurance

India has a large population, so driving on Indian roads requires a high level of skill. This is because accidents happen a lot, no matter whether you are living in urban or rural areas. As a result, the government has made purchasing car insurance a requirement for all car owners to protect both the safety of the owner and other drivers. When it comes to buying the best car insurance, National Car Insurance and New India Car Insurance are the popular options that customers can choose from to safeguard their vehicle.

Both car insurance is a way to ensure that your car and the third-party vehicle are safe against damages. Car insurance by National Insurance and New India Assurance also offers add-on covers that can widen your coverage but come with a bit of extra premium. Having car insurance, In addition to shielding you from any legal consequences resulting from the incident, the insurers will handle all financial obligations for the injured party’s care.

Let’s dig deep into National Car Insurance and New India Car Insurance in detail!

Examine the Divergences Between National Car Insurance and New India Car Insurance

Let’s take a look at the differences between National Car Insurance and New India Car Insurance.

ParametersNational Car InsuranceNew India Car Insurance
Claim Settlement ratio (Incurred Claim Ratio 2021-22 For Motor Insurance)90.68%91.00%
Cashless Network Garages1000+1500+
Towing ChargesRs.1500/-Rs.1500/-
Personal Accident CoverCoveredCovered
Third-party CoverLiability for damage to third party property is covered for Rs.7.5 lakhs under private cars.Rs. 7.5 lakhs
Fire, explosion, self-ignition or lightning.CoveredCovered
Hassle-free renewalsYesYes

What is National Car Insurance?

National car insurance shields your vehicle from lawsuits and offers financial security in the event of unplanned events like car accidents and third-party damage. Third-Party Liability and Comprehensive are the two options available for National car insurance. It covers the vehicle owner’s obligations resulting from personal injury or death of a third party. It also protects the car owner from liability if they injure someone else’s property.

What Features and Benefits Does National Car Insurance Offer?

Listed below are the key features and benefits of choosing National Car Insurance. 

Cashless Network Garages:

National Car Insurance has tie-ups with over 1000+ cashless garages. There are plenty of cashless garages in the area, so you can easily get your car fixed there without having to pay for it out of pocket.

Quick and Hassle-free Claim Settlement:

With a claim settlement ratio of 90.68%, you can easily get your car insurance claims settled with National Insurance. It will be simpler for you to get your car insurance claim resolved if the claim settlement ratio is higher.

Dedicated Customer Assistance:

Additionally, National Insurance provides 24/7 customer service. You can easily contact their team for any questions or help thanks to their committed customer support team.

Multiple Discounts:

Policyholders who renew their car insurance can also take advantage of discounts. In addition, customers receive a No Claim Bonus if they file no claims during a specific year.

Zero Depreciation Cover:

By ensuring that the depreciation on the value of replaced parts is not taken into account in the event of a claim, this add-on enables you to get a larger claim amount.

NCB Protect Cover:

By using this add-on, you can protect your No-Claim Bonus (NCB) in the event that you file a claim, guaranteeing that your NCB is preserved and that you will continue to receive premium savings when your car insurance renews.

Engine Protect Cover:

This coverage offers monetary security in the event that an engine sustains damage from incidents such as flooding or oil spills.

Invoice Protect Cover:

This add-on makes sure you get your car’s invoice or purchase price in the event of a total loss or theft, assisting you in recovering the original value rather than the depreciated value.

Key Protect Cover:

This coverage protects you against the potentially high cost of replacing your car keys. It usually covers the price of new keys, help during a lockout and associated services.

What is New India Car Insurance?

New India Car Assurance protects your car against unfortunate accidents, own damage, and third-party liabilities and also provides additional coverage. It provides a large selection of products, such as comprehensive, own-damage, and standalone third-party car insurance. With the car insurance by New India, In addition to coverage for loss or damage to the insured car and its accessories resulting from fire, explosion, self-ignition or lightning, burglary, housebreaking or theft, riot and strike, landslide, earthquake, flood, cyclone, and other events, liability is covered for an unlimited amount with regard to death or injury and damage to third-party property.

What are New India Car Insurance's Notable Features and Benefits?

Listed below are the salient features and benefits of car insurance by the New India Assurance. 

Number of Network Garages:

Through a partnership with more than 1,500 cashless garages, policyholders of New India car insurance can get their cars repaired without having to pay for them out of pocket.

Protection Against Damages:

Accidents happen on the road all the time. With New India car insurance, you can protect yourself and your vehicle from unforeseen circumstances that could harm it.

Coverage for Third-party Liability:

As required by the Motor Vehicle Act of 1988, Third Party Liability insurance is offered by New India Assurance car insurance and covers any injuries or property damage to a third party. In the event of death or injury, liability is unlimited; in the event of property damage to third parties, liability is limited to Rs. 7.5 lakhs.

Solatium Fund Scheme:

The Central Government created this scheme to compensate people injured in hit-and-run accidents involving motor vehicles. In the event of death, compensation is INR 25,000, and in the case of grievous injury, it is INR 12,500.

Affordable Premium:

New India car insurance comes with reasonably priced premiums that allow you to protect your vehicle from harm for a relatively small price.

Quick Claim Settlement:

When it comes to settling car insurance, New India Assurance has a solid reputation with a claim settlement ratio of 91.00%. You can ask any questions you have regarding claim settlement to the hardworking staff at New India Assurance.

Loss of Content Cover:

This add-on covers you for any loss or damage to personal items stored in the insured car in the event of theft, break-in, accident, or other calamity.

What Should You Choose: National Car Insurance and New India Car Insurance?

Regrettably, India is among the nations with the highest number of road fatalities and deaths. Combine that with the fact that people’s purchasing power is growing daily and that an increasing number of people are becoming car owners every day, all the while maintaining the same level of infrastructure. The requirement for car insurance emerges.

Though National Car Insurance and New India Car Insurance are the best insurance products that can provide maximum protection to your vehicle, consider the one that suits your needs. If you are looking for car insurance with a higher claim settlement ratio and cashless network garages, then New India Car Insurance will be an ideal choice. On the other hand, if you want car insurance with reliable customer support, then National Car Insurance will help you out!

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