New India Assurance Car Insurance Claim Settlement Ratio

The New India Assurance Company (NIA) is one of the largest general insurance companies in India and has been in operations since 1919. It has a wide network of offices across the country, making it one of the most accessible and reliable providers for car insurance. The company has earned a reputation for providing policyholders with fast and efficient claim settlement services. The company’s claim settlement ratio for car insurance is one of the highest in the industry.

What is Claim Settlement Ratio?

Claim settlement ratio is a measure of the number of claims that are settled by an insurance company in comparison with the total number of claims it receives. It helps policyholders gauge the reliability of an insurer’s claim settlement process. A higher claim settlement ratio indicates that the insurer has a better track record of honouring and settling claims.

New India Assurance Car Insurance Claim Settlement Ratio

The claim settlement ratio of New India Assurance for car insurance is one of the highest in the industry. The company has an overall claim settlement ratio of 95.25%, with 94.12% of motor insurance claims being settled in FY 2019-20. This indicates that the company is reliable and efficient in settling car insurance claims. The company offers various benefits and discounts to policyholders to make the process of claim settlement even faster and smoother.

Benefits of Buying New India Assurance Car Insurance

New India Assurance car insurance provides policyholders with the following benefits:

Cashless Garages

The company has an extensive network of over 4,000 cashless garages across the country. This makes it easy for policyholders to get their vehicle repaired without paying for it out of pocket.

24x7 Claim Assistance

The company provides round-the-clock customer care and claim assistance. Policyholders can contact the customer care team at any time of the day or night and get their queries answered or register a claim.

Discounts and Add-on Covers

New India Assurance car insurance provides policyholders with the option to avail discounts and add-on covers to enhance their policy coverage. Some of the add-on covers include zero depreciation cover, engine protector cover, and NCB protect cover.

Conclusion

New India Assurance is one of the best and reliable providers for car insurance in India. The company has an impressive claim settlement ratio, a wide network of cashless garages, and 24x7 customer care and claim assistance. In addition, the company offers various discounts and add-on covers to enhance the policy coverage. Therefore, New India Assurance is an ideal choice for those looking for car insurance.