National Car Insurance

Car insurance is a safety net that helps the insured (policyholder) cope with financial losses arising from vehicle damage. It prevents the insured from the monetary losses occurring out of accidents, theft, fire, or other possible risks to the vehicle and to themselves.

At its core, car insurance is a legal contract between the insured and the insurance company, where the insurer promises to cover financial damages as outlined in the policy. In return, the policyholder pays a fixed amount known as the ‘Premium’, at the agreed intervals. Car insurance is not only a safeguard for your own vehicle but also a legal obligation under IRDAI regulations, providing coverage for damages or injury caused by your vehicle to third-party property or individuals.

Depending on the type of insurance, the coverage and the premium vary. There are several types of insurance designed to meet the diverse expectations of vehicle owners and cover financial losses in the event of an accident or any other mishap covered under the selected car insurance policy.

National Insurance offers comprehensive protection for your vehicle, covering damages from accidents, theft, natural disasters, and fire. It also includes third-party liability coverage for injury, death, or property damage, along with personal accident benefits for the owner-driver. Designed for complete peace of mind, it ensures financial security and hassle-free driving.

About National Insurance Company

National Insurance Company Limited is a government-owned general insurance company established in 1906 and headquartered in Kolkata. Operating under the Ministry of Finance, it has built a strong reputation over the decades. With a wide network of branches across India, the company offers multiple insurance products, including motor, health, travel and property insurance. Its long-standing credibility makes National Insurance company car insurance a dependable choice for individuals and businesses.

Key features of National Car Insurance

National Insurance car insurance provides features that suit the needs of today’s Indian car owners:

• Extensive Network: Access to over 3,100+ network garages across India for cashless repair services.
• Flexible Policy Options: Choose from third-party to standalone own-damage policies based on your specific needs.
• No Claim Bonus (NCB): Rewards for claim-free years, ranging from 20% to 50% on the Own Damage premium.
• Online Convenience: Ability to buy National car insurance online and manage policies via the NIMA mobile app.
• Additional Covers: A wide array of add-on covers to enhance basic protection.
• These features make a National Insurance policy suitable for both new and existing car owners.

What are the benefits of National Car Insurance?

The National Insurance car insurance benefits extend beyond basic legal compliance. By choosing this insurer, you get:

Quick Claims: Enjoy a smooth and faster claim settlement experience supported by 24/7 customer assistance. Cashless Repairs: Get access to cashless repair services at 3,100+ authorised network garages across India for added convenience. Personal Accident Cover: Compulsory cover of up to ₹15 lakh for the owner-driver. Customizable Add-ons: Enhance protection with specialised covers like Zero Depreciation or Roadside Assistance. Efficient Support: Dedicated customer service to assist with queries and claim settlements. Towing Support: The package policy includes coverage for towing expenses, helping you during vehicle breakdowns or accidents.

While National Insurance car insurance offers the stability and trust associated with a public-sector insurer, it is always advisable to compare plans with providers such as HDFC ERGO to better assess the coverage options and choose a policy that suits your needs and budget.

Types of National Car Insurance Policy

To meet different needs and budgets, the National Insurance Company car insurance offers three main types of policies:

Liability Only Policy (Annual/Long Term)

This is a mandatory policy under the Motor Vehicles Act. It covers third-party liabilities, including legal expenses and compensation for property damage (up to ₹7.5 lakh) or bodily injuries. However, it does not provide coverage for damages to your own vehicle.

Standalone Own Damage Policy

This policy is suitable for vehicle owners who already have a valid third-party insurance coverage. It covers damages to your car against fire, explosions, thefts, burglaries, natural calamities, and man-made disasters.

Annual Package Policy

Also known as a comprehensive policy, the National car insurance package policy plan offers complete protection. It combines third-party liability coverage with own-damage protection, ensuring wider financial security against most road-related risks.

What is a National Insurance Premium Calculator

Before buying a policy, it is advisable to use the National Insurance premium calculator. This tool helps you estimate your premium based on a few important factors:

Insured Declared Value (IDV): The current market value of your car. Make and Model: Includes the brand, variant and engine capacity. Registration Location: The RTO location affects the premium due to risk factors. No Claim Bonus (NCB): Discount earned for not making claims in previous years.

Using a car insurance premium calculator makes it easier to compare different plans and choose the one that offers the best value for your needs.

What things are covered under National Car Insurance?

Common exclusions and inclusion under comprehensive National Insurance motor insurance policy

Common Exclusions

• Accidental Damage: External accidental means causing damage to the vehicle.
• Natural Perils: Lightning, earthquakes, floods, cyclones, hailstorms and landslides.
• Theft: Total loss of the vehicle due to burglary or theft.
• Transit: Damage during transit by road, rail, inland waterway or air.
• Third-Party Liability: Legal stay on damages to third-party life or property.

Common Exclusions

• General wear and tear or mechanical/electrical breakdown.
• Driving without a valid licence or under the influence of intoxicants.
• Consequential loss
• No coverage is provided if the insured car is used for commercial or non-personal purposes
• War or nuclear risks

General add-ons offered by National Car Insurance

To enhance the scope of coverage, National Insurance company car insurance offers a wide range of add-on covers that can be purchased with a comprehensive policy. These add-ons help customise your National Insurance car insurance policy based on your individual needs.

• Nil Depreciation Cover: Ensures full claim amount without factoring in depreciation on replaced parts.
• Engine Protection Cover: Covers damages to the engine caused by water ingress, oil leakage or similar risks.
• Roadside Assistance Cover: Provides on-road support in case of breakdowns, including towing, battery jump-starts and minor repairs.
• Return to Invoice Cover: Pays the original invoice value of the car in case of total loss or theft, instead of the depreciated IDV.
• NCB Protection Cover: Helps retain your No Claim Bonus even after making a claim, ensuring that your premium discount is not affected.

How to renew National Car Insurance?

You can easily complete your National Insurance car insurance renewal through Park+ by following these steps:

Step 1. Visit the Park+ App or website

Step 2. Enter your car registration number to fetch existing policy details.

Step 3. Explore the National Insurance renewal options, compare coverage, and choose the suitable plan.

Step 4. Make a payment online and receive your renewed policy instantly.

How to file a claim under National Car Insurance?

The National Insurance claim process is designed to be straightforward:

1. Inform the insurer immediately after the incident.
2. Register the claim online or through customer support.
3. Submit required documents. Ensure you have all relevant documents while registering the claim.
4. Get the vehicle inspected by a surveyor.
5. Get the vehicle repaired at a network garage or claim reimbursement.
6. The insurer will then process and settle the claim amount.

Documents required to raise a claim under National Car Insurance

Keep these documents ready to ensure a smooth claim experience:

• Duly filled and signed claim form.
• Copy of the National Insurance policy document.
• Copy Registration Certificate (RC) of the vehicle.
• Copy of a valid driving licence of the person driving at the time of the accident.
• FIR copy (mandatory in case of theft or third-party injury/death).
• Copy of fitness certificate.
• Estimated repair bill from the garage.

National Insurance car insurance offers reliable coverage options backed by a trusted insurer, making it a suitable choice for both basic and comprehensive protection needs. With flexible policies, easy renewal and a straightforward claim process, it ensures peace of mind for vehicle owners. Park+ makes the process even more convenient by allowing you to compare plans, choose the right policy and complete your purchase seamlessly in one place.