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New India Assurance Pay As You Drive Motor Policy as Annual Package Cover for Private Cars combines own-damage insurance and third-party liability insurance for a one-year policy period. At inception, the insured declares the current odometer reading and chooses a kilometre slab based on expected use: up to 4,000, 6,000, 8,000 or 10,000 kilometres. An applicable discount on the basic own-damage premium may be available at renewal if actual usage qualifies under the selected mileage rules. The vehicle continues to be insured even if it exceeds the chosen slab; the applicable discount is determined using the actual kilometres driven. The mileage discount is subject to renewal with New India Assurance for the same product without a break and verification of odometer kilometres. Premium depends on vehicle details, IDV, applicable rates, selected slab and optional covers.
Choose a kilometre slab and qualify for an applicable own-damage premium discount at renewal
This annual PAYD package may suit private car owners who drive less or can estimate their annual mileage with reasonable confidence. It includes both own-damage and third-party sections, unlike a standalone own-damage policy. The potential mileage benefit is not a guaranteed upfront saving: the insurer states that the eligible PAYD discount is provided at renewal, subject to mileage verification and uninterrupted renewal with the same insurer and product. Drivers who frequently exceed their expected mileage should choose a realistic slab and read the policy wording carefully. Compare the complete quote, deductibles, IDV and optional covers before purchasing.
New India Assurance
Key Insights
Founded
1919
New India Assurance was established 107 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
93.8% CSR, calculated as a 3-year average
New India Assurance settles 93.8% of all claims it receives.
Contact Details
1800 209 1415
Headquarters: 87, M.G. Road, Fort, Mumbai – 400 001, Maharashtra, India
Combines own-damage and third-party liability cover for the one-year policy period.
Coverage is governed by the issued schedule and policy wording.
The insured can choose a slab of up to 4,000, 6,000, 8,000 or 10,000 kilometres based on expected annual use.
Declare the starting odometer reading when the policy begins.
An applicable discount on basic own-damage premium may be provided at renewal when actual mileage qualifies.
This is conditional, not a guaranteed upfront discount.
The insurer may verify kilometres driven through odometer readings, technology or other available means.
Keep accurate mileage information and follow the insurer’s renewal process.
The policy can continue even if the vehicle exceeds the initially selected kilometre slab.
The applicable renewal discount is determined using actual kilometres driven.
For an admissible partial-loss claim, the add-on can reduce depreciation deductions on eligible replaced parts as defined in its wording.
Optional extra-cost cover; check eligibility, limits and policy terms.
Depending on the selected assistance option, services may include towing after an accident, flat-tyre support, battery jump-start and keys-locked-in assistance.
Conditions or treatments that the policy clearly says it will not cover.
Insurer
New India Assurance plans and claim process
It is a one-year private car package policy that combines own-damage and third-party insurance with mileage-based discount eligibility subject to policy terms.
The insurer lists slabs of up to 4,000, 6,000, 8,000 and 10,000 kilometres. Declare the current odometer reading and select the slab at inception.
No. The stated PAYD discount on basic own-damage premium is offered at renewal when the mileage and other eligibility conditions are met.
Disclaimer: Premium amounts are indicative and may vary based on age, health, and plan selected. Claim settlement ratios are from IRDAI Annual Reports. Finzony is not an insurance broker or agent. Verify all details on the official New India Assurance website before purchasing.
Official Website
newindia.co.in
Visit the official New India Assurance website for plan brochures, premium quotes and policy services.
The aforementioned ratios have been averaged over three years (FY24-FY26)
Optional extra-cost cover; the exact services depend on the chosen Basic or Gold option.
The policy continues to remain in force. At renewal, the applicable slab for discount purposes is determined using actual kilometres driven.
The insurer specifies mileage verification and renewal with New India Assurance for the same product without a break in insurance.
Yes. The annual package version includes both own-damage and third-party sections, subject to the issued policy terms.
The insurer lists optional covers such as Nil Depreciation, Engine Protect, Consumables and Roadside Assistance for PAYD, subject to availability, extra premium and their terms.
There is no single universal premium. Obtain a quote based on your vehicle details, IDV, selected kilometre slab, applicable rates and chosen add-ons.