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National Car Insurance

NIC (National Insurance Company Ltd) is India's oldest general Insurance company. It was incorporated in Kolkata on 5th December, 1906. National Car Insurance had the largest market share in the Car business among India's insurers, in terms of GDWP in FY15. National Insurance claims A.M. Best Financial Strength Rating of B++ (Good) and Issuer Credit Rating of "bbb+". The company provides Car Insurance, Health Insurance, Travel Insurance, Rural Insurance, Industrial Risk Insurance and Commercial Risk Insurance. They are currently spread over with a work force of 14902 skilled personnel and 1998 offices all over India including operations in Nepal.

  • Cashless network across India
  • Up to Rs. 7.5 lac for Third-party cover
  • No Claim bonus for claim free experience
  • Discount for opting higher voluntary excess
  • Additional cover for loss of accessories
  • Legal liability to paid driver

National Insurance at a Glance
  • National consist the largest market share in Car business among India's insurers in terms of GDWP in FY15
  • It is leader in North and East zone.
  • Enforced by a strong distribution network across 1998 offices all over India, including Nepal cities

Documentation needed to apply for National Car Insurance policy
  • Completely filled cover note / application form with contact numbers
  • Name of insured person
  • Vehicle number
  • Make and model of the vehicle
  • Identification card
  • Copy of RC
  • Copy of previous insurance ( for renewal)

National Car Insurance plans at a glance
  • Private Car Insurance plan

National Car Insurance Plans
Plan Name Benefits
Car Insurance
  • Third-party cover up to Rs 7.5lacs
  • Basic cover includes Car Shield which provides coverage against natural and man-made calamities, personal accident cover and liability to third-parties
  • Discount on basic coverage available

National Car Insurance Plan Features
Car Shield - Provides coverage against man-made and natural calamities like
  • Fire explosion, self ignition or lighting
  • Riot & Strike
  • Malicious Act
  • Burglary, housebreaking/ Theft
  • Landslide rockslide
  • Earthquake(fire and shock damage)
  • Flood typhoon hurricane storm tempest inundation cyclone hailstorm frost
  • Terrorist activity
  • Accidents in external means
  • In transit by road rail inland-waterway lift elevator or air
Subject to a deduction for depreciation at the rates mentioned below in respect of parts replaced

  1. For all rubber/ nylon/ plastic parts, tyres and tubes, batteries and air bags - 50%
  2. For fiber glass components - 30%
  3. For all parts made of glass - Nil
  4. Rate of depreciation for all other parts including wooden parts will be as per the following schedule

Not exceeding 6 months NIL
Exceeding 6 months but not exceeding 1 year 5%
Exceeding 1 year but not exceeding 2 years 10%
Exceeding 2 years but not exceeding 3 years 15%
Exceeding 3 years but not exceeding 4 years 25%
Exceeding 4 years but not exceeding 5 years 35%
Exceeding 5 years but not exceeding 10 years 40%
Exceeding 10 years 50%

Personal Accident for Owner/Driver-This feature provides financial coverage for the owner/driver holder in case of any accident and any resulting damage.

Third party liability
This feature is mandated by Indian law and regulated by the IRDAI (Insurance Regulatory and Development Authority of India) to ensure protection for any damage caused to a third-party due to the policy holder’s vehicle.

The insured shall become legally liable to pay in respect of

  • Death of or bodily injury to any person
  • Damage to property other than property belonging to the insured or held in trust or in custody or control of the insured.
  • The company will pay all costs and expenses incurred with its written consent.

Claim Process for National Car Insurance (Step wise)
Step Description
1: Intimation it be given to the policy issuing office immediately
2: Lodge a FIR to the nearest police station, in case the loss has occurred due to any cause like Fire, Burglary, Theft, Damage to third party, Accident etc. (for any reason other than Act of God peril e.g Flood, Earthquake, inundation etc.)
3: Collect relevant claim form and fill it.
4: Submit claim form to the policy issuing office either directly or by an authorized agent along with documents such as police reports, doctors prescription etc
5: The policy issuing office may appoint surveyor/loss assessor or may refer the case to panel doctors, if necessary.
6: Claim is finally settled by the policy issuing office and payment is made to the policy holder as a full and final settlement of claim

National Car Insurance –FAQs
1. Can I buy National Car Insurance Policy online?
Yes, you can purchase Car Insurance online by using your Credit Card/Debit card through niconline.in.

2. Do I need to have a comprehensive policy for my car?
The Car Vehicle Act states that every Car vehicle plying on the road has to be insured, with a minimum cover of Liability Only Policy. But it is mandatory to have a comprehensive cover for new vehicles

3. Can I renew other Insurance policy with niconline.in?
Yes, simply visit niconline.in and provide minimum details of your expiring policy and buy Car Insurance Policy online. Also avail benefits of the No Claim Bonus earned by you in full.