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New India Assurance Company - Products
Motor Vehicle
Under this section we cover all motor vehicles like two-wheelers, Private Cars,
Taxis, Auto Rickshaws, Commercial Vehicles.
There are two types of policies.
1) Act Policy – Popularly known as Third Party Insurance. The premium is
very nominal and it covers only the legal liability of the owner towards third parties
(i.e. Public) for any personal injuries/property damage caused by use of the vehicle.
Damage to the vehicle itself is not covered.
2)The other policy is Comprehensive one and in addition to liability mentioned above it
covers loss or damage to the vehicle due to “Accidents, fire, lightning, explosion,
Burglary, theft, Flood, Riot, Strike, Malicious Damage, Terrorism etc”. The
rates are as per the Motor Tariff.
Please note that it is an offence to keep your vehicle in a public place without at least
an Act Policy.
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