New India Private Car Package

Key features

• ✓Government-backed PSU insurer founded in 1919
• ✓Two policy variants: Liability Only and Package (Comprehensive)
• ✓3,000+ cashless network garages across India
• ✓1,600+ branches nationwide for offline servicing
• ✓Personal Accident cover for owner-driver included
• ✓Unlimited third-party bodily injury / death liability
• ✓Third-party property damage liability up to ₹7.5 lakh
• ✓NCB up to 50% on renewal for claim-free years
• ✓Long-term third-party cover available per IRDAI guidelines
• ✓IDV calculated using manufacturer's listed selling price minus standard depreciation

What’s included

• ✓Own damage from accidents, fire, explosion, self-ignition
• ✓Theft, burglary, and housebreaking losses
• ✓Damage from natural calamities (flood, earthquake, cyclone, landslide)
• ✓Damage from man-made calamities (riot, strike, malicious acts, terrorism)
• ✓Third-party bodily injury and death (unlimited liability)
• ✓Third-party property damage up to ₹7.5 lakh
• ✓Personal Accident cover for owner-driver
• ✓In-transit damage (rail, road, air, inland waterway)

What’s excluded

• ✕Normal wear and tear and mechanical/electrical breakdown
• ✕Depreciation and consequential loss (without add-ons)
• ✕Driving without a valid licence
• ✕Driving under influence of alcohol or drugs
• ✕Use of vehicle outside geographical area
• ✕War, nuclear perils, and contractual liability
• ✕Damage when vehicle is used for purpose not permitted by policy

Eligibility

Min age

18 years

Covers

Self

Policy term

1 year (own damage); long-term 3-year third-party cover available per IRDAI rules

IDV

Based on manufacturer's listed selling price less standard depreciation: 5% (<6m), 15% (6m-1y), 20% (1-2y), 30% (2-3y), 40% (3-4y), 50% (4-5y); >5y mutually agreed

NCB

20% / 25% / 35% / 45% / 50% tiered