Overview of The New India Assurance Home Insurance
The New India Assurance Home insurance is an insurance policy that has been designed to protect a house from any unforeseen damages or risks, such as impact damage, fire, natural disasters, theft, etc. It is a comprehensive policy offered by The New India Assurance Insurance that covers the building structure as well as the contents of the house from any probable loss or damages. Besides, The New India Assurance home policy is equipped to cover independent houses as well as apartments. If you want to know the premium of a home insurance policy before purchasing it, you can use a home insurance calculator.
Features and Benefits of New India Assurance Home Insurance
Your house is one of your biggest assets. It is the place where you nurture your family and come back to after a hard and tiring day. Besides, buying a house requires a big investment and a lot of people take up loans to buy their dream house. As a result, any damage to your house may result in major financial losses and it can be avoided only if you have a home insurance policy.
Several insurance companies in India offer home insurance policies, including The New India Assurance. Here are some of the most lucrative features and benefits of New India Assurance home insurance plans:
- Protects the house from a wide range of risks
- Coverage for building and home contents available
- Both owners and tenants can buy insurance
- Contents up to Rs 10 lakh covered
- Option to choose coverage sections as per choice
- Savings options available if more coverage sections are being opted
Types of New India Assurance Home Insurance Plans
Two types of home insurance plans are offered by New India Assurance. Take a look at them below:
- House Holder Policy– It is a type of New India Assurance home insurance plan which has been designed for householders. It provides comprehensive protection to the house against fire, burglary, natural disasters, impact damage, jewellery, public liability, domestic appliances, personal accident, etc. The homeowner needs to opt for at least three sections to get this policy issued.
- Griha Suvidha Policy – It is a type of New India Assurance home insurance plan that has been tailor-made to suit the needs of an average householder and protect the contents of his house on first loss basis. This policy covers house contents from incidents of fire, earthquake, burglary, terrorism, jewellery, TV/ desktop, etc. Under this plan, the coverage for building structure against fire & allied perils is available as an optional cover on full sum insured basis.
The coverage available under the two types of New India Assurance Home plans are given in the table below:
| Inclusions |
Types of New India Assurance Home Insurance Plans |
| House Holder Policy |
Griha Suvidha Policy |
| Fire & Allied Perils |
Buildings |
Covered |
Optiona |
| Contents |
Covered |
Covered |
| Burglary & House Breaking |
Covered |
Covered |
| Jewellery & Valuables |
Covered |
Covered |
| Breakdown of Domestic Appliances |
Covered |
Covered |
| TV Set |
|
Covered |
Covered |
| Desktop |
Covered |
Covered |
| Pedal Cycle |
Covered |
Not Covered |
| Baggage Insurance |
Covered |
Not Covered |
| Personal Accident |
Covered |
Not Covered |
| Public Liability |
Covered |
Not Covered |
Inclusions of New India Assurance Home Insurance
New India Assurance home plans provide insurance coverage against the following dangers or risks:
- Fire & Allied Perils – It covers any loss or damages caused to the building and contents of your house due to fire. It also protects it from allied perils, such as lightning, impact damage, manmade hazards, bursting/ overflowing of water tanks, damage caused by aircraft, gas explosion and natural calamities.
- Burglary & House Breaking – This section covers the contents of the house against any loss due to theft, burglary, larceny or housebreaking.
- Jewellery & Valuables – This house insurance policy covers any unfortunate or accidental loss or damages to your jewellery and valuables while worn, kept or carried anywhere in India.
- Breakdown of Domestic Appliances – It covers any unpredictable physical damage to the domestic appliances in your house due to electrical or mechanical appliances.
- TV Set – This section covers the TV set including VCR/ VCP and desktop (under Griha Suvidha policy) against any loss or damage due to electrical & mechanical breakdown, burglary or theft, fire & allied perils and accidental external breakage. It also covers any legal liability of the policyholder in case the use of TV set results in accidental bodily injuries/ death or property damage to a non-family member or employee in the house.
- Pedal Cycle – The New India Assurance home plan cover any loss or damages to the pedal cycles in your house due to fire & allied perils, accidental external means and burglary & theft. It also covers any third party personal injury or property damages caused due to the use of pedal cycle for up to Rs 10,000.
- Baggage Insurance – It covers any accidental or unfortunate loss or damages to the accompanied baggage of the insured while travelling on holiday or tour to anywhere within India.
- Personal Accident – This section covers you against any bodily injuries or death caused due to accidents or external, violent or visible means while in the house.
- Public Liability – This policy covers you from any public liability arising due to causing property damages, bodily injuries or death to a third party. It also covers the workmen’s compensation liability of the insured in case the domestic servants working in the house gets accidentally injured or dies within the premises.
Exclusions of New India Assurance Home Insurance
The following risks are not covered under the New India Assurance home insurance plans:
- War & Allied Perils – Any loss or damages caused to your house or its contents as a result of war, enemy attack or any war-like operations are not covered.
- Depreciation – This policy does not cover any depreciation in the value of the house or its contents.
- Nuclear Activity – Any damages or loss to the house or its contents due to nuclear reaction, nuclear leak or nuclear weapon are excluded in this policy.
- Consequential Loss – It does not cover any consequential loss or damages to the house or its contents which are not a direct result of a covered risk.
- Wear & Tear – This policy also does not cover any loss or damages caused to the insured house or its contents due to regular wear and tear.
Claim Procedure for New India Assurance Home Insurance
In case of a mishap, a policyholder should ensure to raise a timely claim. New India Assurance offers a simple claim procedure. To initiate a claim under New India Assurance home insurance policy, you need to follow the procedure given below:
- First, take all possible steps to reduce the damage/ loss
- Intimate the fire brigade about the incident (in case of fire)
- In case of theft/ burglary, notify the police and file an FIR listing the stolen items and their estimated value
- Inform New India Assurance regarding the incident
- The insurer may appoint a surveyor to inspect the site and estimate the damage
- Provide necessary documents, including the claim form to the surveyor or the insurance company
- The company will verify the claim and pay the claim amount to you
Documents Required to Register a Claim
In order to register a home insurance claim with New India Assurance, you need to submit the following documents:
- Duly filled home insurance claim form
- Police FIR lodged by the policyholder (in case of theft claims)
- Report by fire brigade (in case of fire claims)
- Investigation report by the police
- Bills/ receipts/ vouchers of contents lost or damaged
- Valuation reports
- House ownership/ possession letter (in case of own accommodation)
- Replacement invoice by the supplier
- Estimated and final repair bill
- Rent agreement
- Proof of paying rent at alternate accommodation
- Details of bank account
New India Assurance Home Insurance Renewal Process
If your New India Assurance home insurance policy is about to get expired, you need to get it renewed to continue enjoying the coverage benefits. Follow the steps given below to renew your home insurance policy by New India Assurance online:
- Go to the home insurance page on the website
- Select the option of renewing your home insurance policy
- Enter the details required, such as the previous home insurance policy number
- Review the plan details
- Add/ remove the optional cover as desired
- The final premium amount will be displayed
- Pay the premium online through bank debit/ credit cards or internet banking
- New India Assurance will renew your home insurance policy
New India Assurance Home Insurance FAQs
-
New India Assurance covers the following contents under its home insurance plans:
- Furniture
- Domestic appliances
- Fittings
- Jewellery
- Fixtures
- Clothes & apparels
- Pedal cycles
- Upholstery
- TV sets/ desktop, etc.
-
Yes. You can purchase home insurance plan by New India Assurance to protect the contents of your house.
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In order to download your home insurance policy by New India Assurance, follow the steps given below:
- Visit the website from where you purchased the policy
- Log in to your account by entering your user id and password
- Go to the option of downloading the policy document
- Enter the details of your home insurance policy
- Download the policy document
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The policyholder can raise a maximum of two claims under his New India Assurance home insurance policy, provided the sum insured amount is not exhausted.
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No. A policyholder cannot reinstate the sum insured amount after it has been exhausted under his New India Assurance home insurance plans.
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The premium for Home insurance plan by New India Assurance can be paid online as well as offline. Online payment can be made using a debit card, credit card or via internet banking. On the other hand, offline insurance buyers can pay the premium amount through cheque by visiting the insurance company’s branch.
