National Insurance Company – History, Claim Process, Renew Policy, Health Insurance, Motor Insurance, Group Mediclaim, Property Insurance, Liability, Marine Insurance | Buy and Renew Policy Online

About National Insurance Company Limited

National Insurance Company Limited (NICL) is one of the leading Public Sector General Insurance Companies in India. The Company was established in 1906 by Gordhandas Dutia and Jeevan Das Dutia and it is the oldest Insurance Company in India. The National Insurance Company is headquartered in Kolkata, West Bengal, and is owned by the Government of India and administered by the Ministry of Finance. The National Insurance Company reported a premium of Rs15180 Crores and an Incurred Claim Ratio of 95.90% for FY24. Health Insurance constitutes the company’s largest segment with a premium of Rs6930 crores comprising 46% of its overall premium income followed by Motor Insurance which contributed around 33.3% of Gross Direct Premium Income of Rs5035 Crores. The Company has an employee base of 7612 employees along with 869 offices spread across the country as on 31st March 2024. National Insurance Company offers a range of general insurance policies such as Motor Insurance, Health Insurance, Group Mediclaim Policy, Cyber Liability Insurance, D&O Liability Insurance, Commercial General Liability Insurance Policy, Marine Insurance, Fire Insurance etc.

History of National Insurance Company Limited

National Insurance Company Limited (NICL) was incorporated on 5 December 1906, with its registered office in Kolkata, making it the oldest General Insurance Company in India. In 1972, the Indian government passed the General Insurance Business (Nationalisation) Act, which led to the nationalization of the General Insurance Industry. As part of this process, NICL, along with 21 foreign and 11 Indian Insurance Companies, were merged and National Insurance became a subsidiary of the General Insurance Corporation of India (GIC), which was fully owned by the Government of India.

After nationalization, NICL operated as a subsidiary of GIC and expanded its operations across India. It played a pivotal role in providing General Insurance Services, including Fire, Marine and Miscellaneous Insurance, to Individuals, Businesses, And Industries In 2002, the Indian government enacted the General Insurance Business (Nationalisation) Amendment Act, which led to the de-linking of NICL from its parent company, GIC.

Effective 7 August 2002, NICL began operating as an independent Insurance Company, wholly owned by the Government of India. This move was part of a broader effort to modernize and liberalize the insurance sector, allowing companies like NICL to operate with greater autonomy and flexibility. NICL continued to expand its reach and services in the following years. National Insurance Company Limited (NICL) has a legacy of over a century, marked by its commitment to providing reliable and comprehensive Insurance solutions to its customers. From its early days as a private company to its current status as a leading Public Sector Insurer, NICL has played a crucial role in shaping India’s General Insurance Market. National Insurance Company Ltd - An Overview

How to Purchase an Insurance Policy with National Insurance Company?

The Insured needs to follow the below-mentioned steps to purchase an Insurance Policy from National Insurance Company:

Online Process to purchase a National Insurance Policy

1. Go to National Insurance website - <www.nationalinsurance.nic.co.in> and click on the ‘Buy Online’ button
2. Select the Policy: Navigate to the “Products” section and choose the type of policy you want (e.g., health, motor, critical illness, etc.). Review the policy details, coverage, and benefits.
3. Fill the Proposal Form: Click on “Buy Now” or “Proceed to Buy” for the selected policy. Provide the requisite details in the online proposal form, such as Personal Information, Sum Insured, Policy Term, and Nominee Details.
4. Upload Documents: Upload necessary documents (e.g., ID proof, address proof, age proof, and medical reports if required) and pay the Premium Amount.
5. Receive Policy: Once the payment is successful, the policy document will be sent to your registered email ID.

Offline Process to purchase National Insurance Policy

1. Locate the Nearest Branch or Consult an Insurance Broker: You can visit the nearest branch office of National Insurance Company or alternatively contact Qian Insurance Brokers to purchase a National Insurance Policy.
2. Fill the Proposal Form: Fill out the physical proposal form provided by the agent or branch office. Provide necessary details such as personal information, sum insured, policy term, and nominee details. Pay the premium via cash, cheque, or demand draft (DD) at the branch office.
3. Receive Insurance Policy: Pay the premium via cash, cheque or demand draft and the Policy will be mailed to your address within 2 days.

How to Renew your Insurance Policy with National Insurance Company?

Insurance Policies usually have a 1-year duration and it is necessary to renew your Policy every year to continue your Insurance Coverage. The Process to renew your Policy with National Insurance Company is as follows:

Online Process to Renew National Insurance Policy

1. Go to National Insurance website and Click on the ‘Renewal’ button
2. Enter Policy Number and provide your personal details and Policy Details. The Website will display the Renewal Premium
3. Pay the premium using net banking, UPI, credit/debit card or wallet.
4. The renewed Insurance Policy will be emailed to your registered email ID.

Offline Process to Renew National Insurance Policy

1. Contact Qian Insurance Broking or visit the nearest branch office to renew your National Insurance policy.
2. Provide relevant details along with the details of expiring Policy
3. The Qian Insurance Team will assist you with renewal quotes and to submit relevant documents.
4. Pay the premium via cash, cheque or demand draft.
5. The Policy will be mailed to your address within 2 days.

How to File a Claim with the National Insurance Company?

The steps to file an Insurance Claim with National Insurance Company are listed below

1. Intimate Claim: Go to the National Insurance Website, Click on ‘Intimate Claim’, enter the relevant Insurance Policy number and register a claim by providing details like Insured Information, Date of Incident etc. The Company will provide a Claim Intimation number upon successful registration of the Claim. Alternatively, you can call the National Assurance Toll Free helpline number at 1800-345-0330 and register a claim by providing Details of Incident etc.
2. Submit Claim Documents: Submit the Claim Form and other relevant documents such as surveyor’s report, FIR Report, Report of Losses, Bank Account details etc.
3. Claim Settlement: The Insurance Company will investigate the claim, inspect documents and process the claim amount if everything is found appropriate.

What is the Claim Settlement Ratio of National Insurance Company?

National Insurance Company reported a Claim Settlement Ratio (within 3 months) of 91.18% for FY24. This means that the Company settled 91.18% of all Insurance Claims within 3 months.

National Insurance Personal Insurance Plans

The National Insurance Company offers a range of Insurance Policies for Individuals and Families such as Health Insurance, Motor Insurance and Travel Insurance Plans.

Health Insurance Policies Offered by National Insurance Company

National Insurance Company offers a range of Health Insurance Plans which cover Hospitalisation Expenses, Pre- and Post-Hospitalisation Expenses, Daycare Procedures and Maternity Expenses. The Plans are designed to cater to the needs of Individuals, Families, Parents etc.

National Mediclaim Insurance Policy (Individual Plan)

The National Mediclaim Policy (Individual Plan) is a comprehensive Health Insurance Policy covering medical expenses of the Insured Person. The Policy provides coverage for hospitalisation expenses, daycare procedures, Pre And Post-Hospitalization Expenses, and more.

Key Features of National Mediclaim Insurance Policy (Individual Plan)

1. The National Mediclaim Policy (Individual Plan) covers hospitalisation expenses incurred due to illness or injury. Various Sum Insured Options available up to Rs10 Lakhs. Policy has an Entry Age Limit of 18 years to 65 Years
2. Room Rent Limit of 1% of Sum Insured subject to max of Rs10,000 per day for Normal Room and 2% of Sum Insured subject to max of Rs20,000 per day for ICU Rooms. Maximum admissible amount for Room Rent for any one illness is limited to 25% of Sum Insured (Basic Sum Insured + Cumulative Bonus)
3. Modern Treatment Methods are covered under the Policy
4. Pre and Post Hospitalisation Expense Coverage for 45 and 60 days respectively
5. Daycare Procedures are also covered under the Policy
6. Restoration Benefit provided for Unrelated Illnesses during the Policy Year after the Basic Sum Insured has been completely exhausted.
7. 5% Guaranteed Cumulative Bonus on Base Sum Insured upto a maximum of 50% for every Claim-Free Year. In case of a Claim under the Policy, the Cumulative Bonus shall be reduced at the same rate at which it was accrued
8. Waiting Period of 36 months for Pre-Existing Diseases
9. Waiting Period of 90 days/12 months/24 months/36 months for Specified Diseases
10. Premiums Paid
11. Lifetime Renewal

National Mediclaim Plus Policy (Individual Plan)

The National Mediclaim Plus Policy (Individual Plan) is a premium Health Insurance Plan from National Insurance offering a high Sum Insured of up to Rs50 lakhs. The Policy provides extensive coverage for Hospitalization Expenses, Daycare Treatments, AYUSH Treatments, Maternity Expenses, Organ Donor Expenses etc.

Key Features of National Mediclaim Plus Policy

1. Various Sum Insured Options available up to Rs10 Lakhs. Policy has an Entry Age Limit of 18 years to 65 Years
2. Pre- and Post-Hospitalisation Expense Coverage for 30 and 60 days respectively
3. National Mediclaim Plus Plan provides Coverage for Maternity Expenses upto Rs80,000 for Normal Delivery and Rs1 lakh for C-Section Delivery (for Policy Sum Insured of Rs30 lakhs and above) for Insured Females between 18 years to 45 years of age after a Waiting Period of 24 months
4. The Policy also provides coverage for automatic coverage of New-Born Baby upto 3 months of age. After 3 months, the baby can be covered on payment of additional premium.
5. 5% Cumulative Bonus on Base Sum Insured upto a maximum of 50% for every Claim-Free Year. In case of a Claim under the Policy, the Cumulative Bonus shall be reduced at the same rate at which it was accrued
6. Waiting Period of 24 months for Maternity Coverage
7. Waiting Period of 36 months for Pre-Existing Diseases
8. Waiting Period of 90 days/12 months/24 months/36 months for Specified Diseases
9. The Policy provides a free Health Check-Up once every 2 years, irrespective of claims, as per policy limits.
10. The Policy provides Optional Covers for critical illnesses upto a Sum Insured of Rs25 lakhs and for Outpatient Treatment upto a maximum amount of Rs10,000

National Young India Mediclaim Policy

The National Young India Mediclaim Policy is a Health Insurance Plan which can be issued on an Individual or a Floater Basis. The Policy offers Sum Insured options of Rs3 lakhs/Rs5 lakhs/Rs10 lakhs and provides extensive coverage for Hospitalization Expenses, Daycare Treatments, AYUSH Treatments, Maternity Expenses etc.

Key Features of National Young India Mediclaim Policy

1. Various Sum Insured Options available up to Rs10 Lakhs. The Policy is targeted at young people with an entry age limit of 18 years to 43 years.
2. The Policy has a Room Rent Limit of Rs5000/Rs10,000 per day for Normal/ICU rooms for Policy Sum Insured upto Rs5 lakhs and Rs10,000/Rs20,000 per day for Normal/ICU rooms for Policy Sum Insured of Rs10 lakhs
3. Pre- and Post-Hospitalisation Expense Coverage for 45 and 60 days respectively
4. National Young India Mediclaim Policy provides Maternity Coverage for a Female Insured Person of upto Rs50,000. The Maternity Coverage is applicable after a Waiting Period of 24 months.
5. The Policy also provides coverage for automatic coverage of New-Born baby upto 3 months of age. After 3 months, the baby can be covered on payment of additional premium.
6. The Policy provides coverage for Modern Treatment Methods upto 25% of the Policy Sum Insured
7. 5% Cumulative Bonus on Base Sum Insured upto a maximum of 50% for every Claim-Free Year. In case of a Claim under the Policy, the Cumulative Bonus shall be reduced at the same rate at which it was accrued
8. The Policy offers an Optional Cover for Waiver of Waiting Period for Pre-Existing Diabetes or Hypertension
9. The Second Optional Cover offers Double Sum Insured for treatment of 11 Critical Illnesses
10. Waiting Period of 24 months for Maternity Coverage
11. Waiting Period of 36 months for Pre-Existing Diseases
12. Waiting Period of 90 days/12 months/24 months/48 months for Specified Diseases
13. Lifetime Renewal

National Young India Mediclaim Plus Policy

The National Young India Mediclaim Plus Policy (NYIMPP) is a comprehensive Health Insurance Plan providing coverage for Hospitalization Expenses, Day Care and AYUSH treatments.

Key Features of National Young India Mediclaim Plus Policy

1. Various Sum Insured Options available up to Rs10 Lakhs. The Policy is targeted towards young people with an entry age limit of 18 years to 25 years.
2. The Policy pays for Single AC Room Charges and ICU Room Charges are payable as per Actuals
3. Pre- and Post-Hospitalisation Expense Coverage for 45 and 60 days respectively
4. Daycare Procedures are covered under the Policy
5. National Young India Mediclaim Plus Policy provides Maternity Coverage for a Female Insured Person of upto Rs50,000 for Policy Sum Insured of Rs15 lakhs and Rs25 lakhs. The Maternity Coverage is applicable after a Waiting Period of 24 months.
6. The Policy also provides coverage for automatic coverage of New-Born baby upto 3 months of age. After 3 months, the baby can be covered on payment of additional premium.
7. The Policy also provides coverage for Infertility Treatments of upto Rs50,000 for Policy Sum Insured of Rs5 lakhs /Rs10 lakhs /Rs15 lakhs and upto Rs75,000 for Policy Sum Insured of Rs25 lakhs after a Waiting Period of 24 months. Maternity expenses of the Surrogate Mother are payable under Maternity Section.
8. 10% Cumulative Bonus on Base Sum Insured upto a maximum of 40% for every Claim-Free Year. In case of a Claim under the Policy, the Cumulative Bonus shall be reduced at the same rate at which it was accrued
9. Waiting Period of 24 months for Maternity Coverage
10. Waiting Period of 24 months for Infertility Treatment
11. Waiting Period of 36 months for Pre-Existing Diseases
12. Waiting Period of 90 days/12 months/24 months/36 months for Specified Diseases
13. Lifetime Renewal

New National Parivar Mediclaim Policy

The New National Parivar Mediclaim Policy is a Family Floater Health Insurance Policy that provides comprehensive coverage for the entire family under a common Sum Insured. The Policy provides coverage for Hospitalization Expenses, Daycare Treatments, AYUSH treatments, Maternity Expenses, and more.

Key Features of New National Parivar Mediclaim Policy

1. Various Sum Insured Options available from Rs1 lakh to Rs10 lakh
2. The Policy provides Coverage for Pre- and Post-Hospitalisation Expenses for up to 45 days and 75 days respectively
3. Room Rent Limit of 1%/2% of Sum Insured for Normal/ICU Rooms
4. The New National Parivar Mediclaim Policy provides Maternity Coverage for a Female Insured Person upto 10% of a Policy Sum Insured subject to a maximum limit of Rs30,000 in case of a Normal Delivery and Rs50,000 in case of a C-Section Delivery. The Maternity Coverage is applicable after a Waiting Period of 36 months.
5. The Policy also provides coverage for automatic coverage of New-Born baby upto 3 months of age. After 3 months, the baby can be covered on payment of additional premium.
6. The Policy also provides coverage for Infertility Treatments after a Waiting Period of 36 months upto a Maximum amount of Rs50,000.
7. The Policy provides coverage for Modern Treatment Methods upto 25% of the Policy Sum Insured
8. 5% Cumulative Bonus on Base Sum Insured upto a maximum of 50% for every Claim-Free Year. In case of a Claim under the Policy, the Cumulative Bonus shall be reduced at the same rate at which it was accrued
9. The Policy offers an Optional Cover for Waiver of Waiting Period for Pre-Existing Diabetes or Hypertension
10. Waiting Period of 36 months for Maternity Coverage
11. Waiting Period of 36 months for Infertility Treatment
12. Waiting Period of 36 months for Pre-Existing Diseases
13. Waiting Period of 90 days/12 months/24 months/36 months for Specified Diseases
14. Lifetime Renewal

National Parivar Mediclaim Plus Policy

The National Parivar Mediclaim Plus Policy is a Family Floater Health Insurance Plan offering high Sum Insureds of up to Rs50 lakhs to cover the entire family. The Policy provides comprehensive coverage for Hospitalisation Expenses, Daycare Treatments, AYUSH Treatments, Maternity Expenses, etc. The Policy has an Entry Age Limit of 18 years to 65 years.

Key Features of National Parivar Mediclaim Plus Policy

1. Various Sum Insured Options available from Rs6 lakhs to Rs50 lakhs.
2. The Policy provides Coverage for Pre- and Post-Hospitalisation Expenses for up to 30 days and 60 days respectively
3. No Room Rent Capping for Plans with a Sum Insured of Rs15 lakhs and above.
4. The New National Parivar Mediclaim Plus Policy provides Maternity Coverage for a Female Insured Person as per Actual Expenses Incurred for Policy Sum Insured of Rs15 lakhs and above. The Maternity Coverage is applicable after a Waiting Period of 24 months.
5. The Policy also provides coverage for automatic coverage of New-Born baby upto 3 months of age. After 3 months, the baby can be covered on payment of additional premium.
6. The Policy also provides coverage for Infertility Treatments after a Waiting Period of 24 months up to a Maximum amount of Rs1,00,000 for Policy Sum Insured of Rs15 lakhs and above.
7. The Policy provides coverage for Modern Treatment Methods upto 25% of the Policy Sum Insured for each treatment.
8. Waiting Period of 24 months for Maternity Coverage
9. Waiting Period of 24 months for Infertility Treatment
10. Waiting Period of 36 months for Pre-Existing Diseases
11. Waiting Period of 90 days/12 months/24 months/36 months for Specified Diseases
12. Lifetime Renewal

National Senior Citizen Mediclaim Policy (NSCMP)

The National Senior Citizen Mediclaim Policy is a comprehensive Health Insurance Policy which provides coverage for Hospitalisation Expenses, Pre- and Post-Hospitalisation Expenses, Daycare Procedures.

Key Features of National Senior Citizen Mediclaim Policy

1. The Policy offers various Sum Insured Options upto Rs10 lakhs on an Individual or Floater basis. The Policy is offered in 2 Plan Variants – Plan A and Plan B.
2. The National Senior Citizen Mediclaim Policy provides coverage for Inpatient Hospitalisation Expenses, Pre- and Post- Hospitalisation Expenses, Daycare Procedures, etc. Plan B has a Room Rent Limit of 2% of Sum Insured for Normal Rooms subject to a maximum of Rs10,000 per day and 4% of Sum Insured for ICU Rooms subject to a maximum of Rs20,000 per day.
3. The Policy provides Coverage for Pre- and Post-Hospitalisation Expenses for up to 30 days and 60 days respectively
4. Modern Treatment Methods are covered upto 25% of the Policy Sum Insured for Treatment
5. 5% Cumulative Bonus on Base Sum Insured upto a maximum of 50% for every Claim-Free Year. In case of a Claim under the Policy, the Cumulative Bonus shall be reduced at the same rate at which it was accrued
6. Waiting Period of 24 months for Pre-Existing Diseases
7. Waiting Period of 90 days/12 months/24 months/36 months for Specified Diseases
8. Lifetime Renewal

National Super Top-Up Mediclaim Policy

The National Super Top-Up Mediclaim Policy is a Super Top-Up Health Insurance Plan which provides coverage over and above an existing Health Insurance Coverage policy. The Policy offers High Sum Insured Coverage at reasonable Premiums.

Key Features of National Super Top-Up Mediclaim Policy

1. The Policy offers various Sum Insured options of up to Rs80 lakhs with deductibles ranging from Rs2 lakhs to Rs20 Lakhs at affordable premiums.
2. The Policy provides Coverage for Pre- and Post-Hospitalisation Expenses for up to 30 days and 60 days respectively
3. 5% Cumulative Bonus on Base Sum Insured upto a maximum of 50% for every Claim-Free Year. In case of a Claim under the Policy, the Cumulative Bonus shall be reduced at the same rate at which it was accrued
4. The National Super Top-Up Mediclaim Plus Policy provides Maternity Coverage for a Female Insured Person as per Actual Expenses Incurred. The Maternity Coverage is applicable after a Waiting Period of 36 months
5. Modern Treatment Methods are covered upto 25% of the Policy Sum Insured for Treatment
6. Waiting Period of 36 months for Maternity Coverage
7. Waiting Period of 12 months for Pre-Existing Diseases. Between 13 – 24 months, the National Insurance Company will pay 50% of the admissible Claim Amount, between 25 – 36 months, the Insurance Company will pay 75% of the admissible Claim Amount and after 36 months, the Insurance Company will pay 100% of the admissible Claim Amount arising out of Pre-Existing Diseases.
8. Waiting Period of 90 days/12 months/24 months for Specified Diseases
9. Lifetime Renewal

Arogya Sanjeevani Policy – National Insurance

The Arogya Sanjeevani Policy - National is a standard Health Insurance Policy providing coverage for hospitalisation expenses at affordable premiums.

Key Features of National Arogya Sanjeevani Policy – National Insurance

1. Various Sum Insured Options available Rs50,000 to Rs10 Lakhs
2. Floater Option available to cover Spouse, Dependent Children, Dependent Parents and Parents-in-law
3. No Pre-Policy Medical Checkup
4. Room Rent Limit of 2% of Sum Insured subject to a maximum of Rs5,000 for Normal Rooms and 5% of Sum Insured subject to a maximum of Rs10,000 for ICU Rooms
5. Pre and Post-Hospitalisation Expenses Coverage for 30 days and 60 Days
6. Cumulative Bonus of 5% per year for every claim free year, provided that the policy is renewed without a break every year, subject to a maximum of 50% of Sum Insured.
7. Waiting Period of 36 months for Pre-Existing Diseases
8. Waiting Period of 24 and 36 months for Specific Diseases
9. Co-Payment of 5% on each and every claim
10. Lifelong Renewal

National Insurance Group Mediclaim Policy

The National Insurance Group Mediclaim Policy provides comprehensive coverage for hospitalization expenses, Pre and Post-Hospitalization Expenses and Daycare Procedures for employees and their family members under a common Health Insurance Plan.

Key Features of National Insurance Group Mediclaim Policy

1. National Group Mediclaim Policy offers flexible sum insured options, starting from Rs50,000 and going up to Rs10 lakhs.
2. The Policy provides coverage expenses Pre and Post-Hospitalisation Expenses for 30 days and 60 days respectively.
3. Employers can also opt for Maternity Coverage of upto Rs75000 without any Waiting Period
4. The Policy provides coverage for Pre-Existing Diseases without any Waiting Period
5. The Policy provides coverage for Employee, Spouse, Dependent Children and Dependent Parents

What is the Incurred Claim Ratio of National Health Insurance?

The Incurred Claim Ratio of National Insurance Company for the Health Insurance Segment stood at 90.83% in FY24 vs 102.35% in FY23.

What is the Health Insurance Claim Settlement Process with the National Insurance Company?

The steps to file a Health Insurance Claim with National Insurance Company are listed below:

Intimate Claim

You need to intimate National Insurance Company about the claim by either:

1. Go to the National Insurance Company Website, Click on ‘Intimate Claim’ under the ‘Claim’ Tab, enter your registered Mobile Number/Email ID and the Insurance Policy Number and register a claim by providing details like Insured Information, Date of Hospital Admission etc.
2. The Insurance Company will provide a Claim Intimation number upon successful registration of the Claim

National Health Insurance Cashless Claim Settlement Process

To avail Cashless Claim Settlement under the National Health Insurance Policy, the Policyholder must follow the steps listed below:

1. Locate the nearest network hospital covered by the National Health Insurance Policy to avail treatment
2. Inform the Insurance Company about the hospitalization before 3-4 days in case of a planned hospitalization and within 4-5 hours in case of an emergency
3. Show the Health Card issued by the Insurance Company/TPA to the Insurance desk at the hospital
4. Fill the Pre-Authorization Claim Form provided by the hospital
5. The Hospital sends the Pre-Authorization Claim Form to the TPA for Claim Settlement
6. The TPA will inspect the details and inform the Insured about the approval or rejection of the Claim
7. Once the Claim gets approved, the hospital sends the expenses and receipts to the Insurer and the hospital gets reimbursed for the treatment expenses directly by the National Insurance Company. The advantage of cashless claim settlement is that the Policyholder does not need pay any amount from his own pocket.

National Health Insurance Reimbursement Claim Settlement Process

If the Policyholder chooses a non-network hospital, he will have to opt for Reimbursement Claim Settlement. The Reimbursement Claim Settlement is listed below:

1. Inform the TPA within 24 hours of admission to the hospital. The TPA will provide the Policyholder with a Claim Intimation Number after the claim is raised so that the Claim Status can be tracked.
2. Make the payment to the hospital for the medical expenses incurred and keep original copies of all the Invoices.
3. Submit the required documents to the TPA
4. The TPA will verify the Claim Details, ask for additional documents if required and will approve or reject the Claim.
5. The approved Claim Amount gets credited directly to the Bank Account of the Insured

What are the documents Required for a Reimbursement Claim under a Health Insurance Policy?

The Insured needs to submit the following documents to National Insurance Company to avail Reimbursement Claim Settlement under the Policy:

1. ID Proof, Policy Health Card and Address Proof
2. Duly Filled and Signed Claim Form
3. Pathology Reports
4. Medicine Prescriptions and Pharmacy Bills
5. Pre and Post-Hospitalisation Bills
6. Hospital Bills
7. Discharge Summary

Vehicle Insurance Products offered by National Insurance Company

National Motor Insurance Policy - Private Car Insurance

The National Private Car Insurance policy provides coverage for Own Damage to the vehicle as well as Third Party Liabilities.

Key Features of National Motor Insurance Policy

1. The Motor Insurance Policy provides coverage under 2 Sections:
   • The Own Damage Section provides coverage against Loss of or damage to the Insured Vehicle due to various perils such as Fire, Theft, and Natural Disasters.
   • The Third-Party Liability Section covers Legal liability to third parties for Death, Injury, or property damage caused by the Insured Vehicle.
2. National Insurance Company has a network of 2000+ Network Garages where the Policyholder can avail cashless claim settlement.
3. The Policy provides various Add-On Covers are available like Zero Depreciation, Engine Protector, Return to Invoice, Roadside Assistance, Consumable Expenses Cover etc.
4. National Motor Insurance Policy provides a No Claim Bonus of upto 50% for each claim-free year under the Policy

National Two-Wheeler Insurance Policy

The National Two-Wheeler Insurance Policy provides coverage against Loss or Damage to Two-Wheelers because of Accidents, Theft, Fire, Natural Calamities etc. as well as any Third-Party Liability.

Key Features of National Two-Wheeler Insurance Policy

1. The National Two-Wheeler Insurance Policy covers Loss or Damage to the Insured Vehicle from natural calamities, burglary, theft, and accidents.
2. The Policy provides a No Claim Bonus of upto 50% for each claim-free year, which reduces the Renewal Premium.
3. The Policy provides various add-on covers such as Zero Depreciation Cover, Accessories Cover, Roadside Assistance etc.

National Commercial Vehicle Insurance Policy

The National Commercial Vehicle Insurance Policy provides Comprehensive Coverage for commercial vehicles like trucks, buses, tempos, trailers, etc. against Loss or Damage to the vehicle due to Fire, Accidents, Natural Calamities etc. as well as legal liability coverage for Bodily Injury or Property Damage caused to Third Parties by your Vehicle.

Key Features of National Commercial Vehicle Insurance Policy

1. The Own damage Cover protects the Vehicle against loss or damage due to Accidents, Theft, Fire, Explosion, Self-Ignition, Lightning and other Perils while Third-Party Liability Cover provides cover for liability arising due to Bodily Injury or Property Damage caused to Third Parties.
2. The Policy provides enhanced protection through various add-on covers like Roadside Assistance, Daily Cash Allowance, Consumables Cover, Return to Invoice etc.
3. Cashless claim settlement is provided across a wide network of authorized garages in India. This facilitates hassle-free repairs without any payment from the owner’s pocket.
4. No-Claim Bonus of 50%
5. Discounts on own damage premium for installing anti-theft devices which helps reduce the overall premium outgo.

What is the Incurred Claim Ratio of National Motor Insurance?

The Incurred Claim Ratio of National Insurance Company for the Motor Segment stood at 111.21% in FY24 vs 108.81% in FY23.

What is the Claim Settlement Process for a National Vehicle Insurance Policy?

A Vehicle Insurance Claim can be settled in 2 ways:

1. Cashless Claim Settlement
2. Reimbursement Claim Settlement

National Insurance Cashless Claim Settlement Process – Motor Insurance

In order to avail Cashless Claim Settlement under the National Motor Insurance Policy, the Policyholder must follow the steps listed below:

1. Locate the nearest network garage covered by the Oriental Motor Insurance Policy on <www.nationalinsurance.nic.co.in> and bring the damaged car/bike to the same for repairs
2. Inform National Insurance Company about the accident and damage to the vehicle by providing the necessary details such as Policy Number, Date, Time and Description of Accident
3. The Insurance Company will send a surveyor to the Garage to inspect the extent of damage after which the approval to begin repairs is given.
4. Once the approval is received, the Garage can commence repairs.
5. The Insured needs to fill the claim form and provide the related documents as mentioned in the form.
6. Once the vehicle is ready, the Insured needs to pay his share of the Claim consisting of Deductible, Depreciation etc. to the garage and drive off. The balance would be settled by Oriental Insurance Company directly with the network garage.

National Insurance Reimbursement Claim Settlement Process – Motor Insurance

If the Policyholder chooses a non-network Garage, he will have to opt for Reimbursement Claim Settlement. The Reimbursement Claim Settlement for Motor Insurance is listed below:

1. Inform National Insurance Company of the Accident on the Mobile App or Website
2. The Company will send a surveyor to assess the extent of damage
3. The Insured needs to submit the Duly Filled and Signed Claim Form along with the necessary documents as mentioned in the form
4. The Insurance Claim is processed on receipt of documents and the Claim Amount will be credited to the bank account of the Policyholder

Business Insurance Plans offered by National Insurance Company

The National Insurance Company offers customised Insurance Policies for Large Corporates, MSMEs and Startups including Marine Insurance Policy, Fire Insurance Policy, Commercial General Liability Insurance Policy, Directors and Officers Liability Insurance Policy, Cyber Insurance Policy etc.

Property Insurance Policies offered by National Insurance Company

National Standard Fire and Special Perils Insurance Policy

The National Standard Fire and Special Perils Insurance Policy is a comprehensive Fire Insurance Policy which provides coverage against Loss or Damages caused to the Insured Property by fire and other specified perils.

Key Features of National Standard Fire and Special Perils Insurance Policy

1. The Fire Insurance Policy covers Loss or Damage to the Insured Property caused by Fire and allied perils such as Explosions, Landslides, Impact Damage, Forest Fire etc.
2. The Property can be Insured on Reinstatement Value or Market Value Basis.
3. The Policy provides add-on Covers for Earthquake, STFI which enhances Policy Coverage
4. Floater Cover available to cover stocks at multiple locations under a Single Insurance Policy.

National Industrial All Risks Insurance Policy

The National Industrial All Risk Insurance Policy is a Insurance Policy designed to provide extensive coverage for large industrial and manufacturing units. The Policy provides coverage on an All-Risk Basis, which is a much wider cover than a Standard Fire and Special Perils Policy.

Key Features of National Industrial All Risk Insurance Policy

1. The Policy covers physical Loss or Damage to the Insured Property, including Fire and Allied Properties, losses due to Theft or Burglary, Machinery Breakdown, including repair or replacement costs and Boiler explosion
2. The Policy also covers Loss of Profit due to business Interruption on account of the following:
   • Fire Loss of Profit: The Fire Loss of Profit (FLOP) Section provides coverage for Loss of Profit following Loss or Damage to Insured Property due to Fire or allied Perils
   • Machinery Loss of Profit: The Machinery Loss of Profit Section provides coverage for Loss of Profit due to Machinery Breakdown, Boiler Explosion, or Electronic Equipment Failure.
3. The Policy also offers several add-ons covers to enhance coverage including coverage for uninsured additions or alterations to the property, protection for machinery and stocks temporarily removed from the insured premises and coverage for additional expenses incurred during the startup or shutdown of operations due to a covered event.
4. This Policy normally covers industrial assets worth Rs. 100 crores or above under a single Insurance Policy across multiple locations in India. This is useful for large industrial houses with presence across multiple states.

National Bharat Sookshma Udyam Suraksha Policy

The National Bharat Sookshma Udyam Suraksha Policy provides comprehensive coverage for Loss or Damage to Insured property due to Fire and allied Perils. The Policy is applicable for companies where the Total Value at Risk across all Insurable Asset Classes at one location does not exceed Rs5 crores at the policy commencement date.

Key Features of National Bharat Sookshma Udyam Suraksha Policy

1. The Insurance Policy covers damage to Building, Machinery, Furniture, Stock etc. various perils such as Fire, Explosion or Implosion, Lightning, Earthquake, Storms, Floods etc.
2. The Policy has built-in covers for expenses like debris removal, start-up costs, professional fees.
3. The National Bharat Sookshma Udyam Suraksha Policy has an option where the Insured can opt for a Declaration Policy to take care of frequent fluctuation in stock values.
4. The Policy provides coverage for Plant and Machinery on Reinstatement Value Basis.
5. Minimal exclusions like war, pollution, willful negligence, mechanical breakdown etc.
6. The Policy is suitable for small factories, shops, restaurants, workshops etc.

National Bharat Laghu Udyam Suraksha Policy

The National Bharat Laghu Udyam Suraksha Policy provides coverage against Loss or Damage to the Insured Property due to Fire and allied Perils. The Policy is applicable for commercial establishments where the Total Value at Risk across all insurable asset classes at one location exceeds Rs5 Crore but does not exceed Rs50 Crore at the Policy Commencement Date.

Key Features of National Bharat Laghu Udyam Suraksha Policy

1. The Policy provides protection against Fire and allied Perils.
2. The Policy can insure a variety of assets such as Buildings, Plant and Machinery, Furniture, Fixtures and Fittings and Stocks.
3. The National Bharat Laghu Udyam Suraksha provides In-built covers for Removal of Debris, Architect’s Fees.
4. The Policy provides coverage for Plant and Machinery on Reinstatement Value Basis.
5. Minimal exclusions like war, pollution, willful negligence, mechanical breakdown etc.
6. Option to customize coverage with add-ons like Terrorism, Loss of Rent etc.
7. You can opt for Declaration Policy and Floater Cover for stocks.

National Bharat Griha Raksha Policy

The National Bharat Griha Raksha Insurance Policy provides coverage to Residential Structures and its contents against a range of Perils like Fire, Explosion, Implosion, Lightning, Earthquake, Volcanic Eruption, Storms, Tempest, Flooding, Inundation etc.

The Insurance Policy offers coverage under 2 sections:

• Home Structure Cover: The Home Structure Cover provides coverage for Physical Loss, Damage, or Destruction of Home Building due to Insured Perils such as Fire, Explosion, Earthquake, Storm, Flood, Landslide etc.
• Home Contents Cover: The Home Contents Cover provides coverage for Physical Loss, Damage, or Destruction of the general contents of your home caused by Insured Perils.

Key Features of National Bharat Griha Raksha Policy

1. The Oriental Bharat Griha Raksha Policy covers Structure and Contents including furniture, fixtures, fittings, etc.
2. The Policy has add-on covers like Loss of Rent, Additional Rent for Alternative Accommodation
3. Multi Year Policy Duration from 1 Year to 10 Years
4. Underinsurance does not apply to the National Bharat Griha Raksha Policy.

Liability Insurance Policies offered by National Insurance Company

National Commercial General Liability Insurance Policy

The National CGL Policy provides coverage against Legal Liability of the Insured arising from Third-Party Bodily Injury or Property Damage caused on the Insured’s business premises, by the Insured’s Business Operations or as a consequence of using the Insured Party’s Products.

Key Features of National Commercial General Liability Insurance Policy

1. National Commercial General Liability Insurance Policy provides coverage for Bodily Injury and Property Damage, Personal and Advertising Injury and Medical Payments. The CGL Policy pays for Defence Costs and Compensatory Damages in case of a Lawsuit alleging Thid Party Bodily Injury, Property Damage or Personal and Advertising Injury
2. The National Insurance CGL Policy provides Add-On covers like Care, Custody and Control, Vicarious Liability Extension etc. to enhance Policy Coverage
3. Option to add Additional Insured to the Policy
4. Extended Reporting Period of 90 Days
5. Provides medical expenses incurred for accidental injury to third parties on a no-fault basis.
6. Policy can be issued as a Claims Made Policy or Occurrence Based Policy
7. The National Insurance CGL Policy has a Duty to Defend Form
8. Premiums vary based on business risk factors such as nature of operations, turnover, location, past claims history etc.

National Public Liability Insurance Policy

The National Public Liability Insurance Policy covers the Legal Liability of the Insured arising from Third-Party Bodily Injury or Property Damage caused on the Insured’s business premises or as a result of the Insured’s Business Operations

Key Features of National Public Liability Insurance Policy

1. National Public Liability Insurance Policy provides coverage for Industrial and Non-Industrial Businesses. This Insurance Policy is relevant for manufacturing units, amusement parks, construction companies, warehouse owners and other industries involving interaction with public/third parties.
2. The Policy provides coverage for Third-Party Bodily Injury or Property Damage cause on the Insured’s business premises or because of Insured’s business operations. The Policy pays Defence Costs and Compensatory Damages.
3. The Policy provides add-on covers Act of Gods Peril Extension, Technical Collaborators’ Liability Extension and Food & Beverages extension to extend the Policy Coverage
4. Claims due to Wars, Willful Misconduct, Fines & Penalties, Pollution Liability etc. are excluded
5. Policy provides Worldwide Territory and Jurisdiction coverage

National Public Liability Insurance (Act) Policy

The Public Liability Insurance Act (PLI Act) Policy covers the statutory liability of businesses involved in the handling of hazardous substances. The Policy provides compensation in accordance with the Public Liability Insurance Act, 1991, which mandates insurance for businesses handling hazardous substances.

Key Features of National Public Liability Insurance (Act) Policy

1. The National Public Liability Insurance (Act) Policy (PLIA) now offers coverage of up to Rs250 Crore per accident and Rs500 Crore annually.
2. The Policy provides Compensation for Death and Permanent Total Disablement of upto to Rs5 lakhs per person and upto Rs50 lakhs for Property Damage.
3. The Policy providers Reimbursement of Medical Expenses up to Rs1,50,000 for fatal accidents and Rs25,000 for Permanent Total Disablement
4. Pollution control boards can now access up to 10% of the Environmental Relief Fund for restoration efforts.
5. The PLI Act Policy has special significance as it ensures compliance with the Public Liability Insurance Act, 1991, which mandates insurance for businesses handling hazardous substances.

National Product Liability Insurance Policy

The National Product Liability Insurance Policy provides coverage against legal liability of the Insured to pay damages on account of the Bodily Injury and Property Damage caused by using the Insured Company’s defective products. The Product Defect may be a Manufacturing Defect or may even be due to faulty packaging, delivery specifications or instructions as to use of the product. This policy is crucial for manufacturers, distributors, and sellers to safeguard themselves against potential claims and financial losses.

Key Features of National Product Liability Insurance Policy

1. The National Product Liability Insurance Policy covers the Legal Liability of the Insured for Third-Party Bodily Injury or Property Damage caused due to defects in products manufactured, sold, or distributed by the Insured. The Policy provides Coverage for Defence Costs and Compensatory Damages
2. The Policy provides various add-on covers such as Technical Collaborator’s Liability, Vendor’s Liability, etc.
3. The Policy provides coverage for Claims for all incidents that occur after the Retroactive Date

National Directors and Officers Liability Insurance Policy

National D&O Liability Insurance Policy provides coverage to Directors and Officers of a Company against the legal liability arising out of Wrongful Acts committed by Directors and Officers in their managerial capacity. A Wrongful Act is defined as any actual or alleged Act, Error, Omission, Breach of Duty, Breach of Trust, Breach of Warranty or Authority, Misstatement or Misleading Statement.

Key Features of National Insurance Directors and Officers Liability Insurance Policy

1. The Policy covers Defense Costs and Compensatory Damages awarded against Directors and Officers against the legal liability arising out of Wrongful Acts committed by Directors and Officers in their managerial capacity
2. The Policy provides cover for Non-Executive Directors, Retired Directors and Outside Entity Directors.
3. The Policy provides coverage under 2 Sections: Side A and Side B. Side A Covers directors and officers directly for losses when the company cannot indemnify them while Side B Reimburses the Company when the Company indemnifies directors and officers.
4. Covers liability arising anywhere in India. Worldwide coverage can be opted as an extension.
5. Policy provides cover for Securities Claims and Employment Practices Liability Claims
6. Major Exclusions are Bodily Injury, Property Damage, Fraud, Insured vs Insured Claims, and Prior Acts.
7. Add-ons available for Entity Cover, Investigation Costs, Emergency Costs, Reputational Damage etc.

Marine Insurance Policies offered by National Insurance Company

National Specific Marine Insurance Policy

The National Specific Marine Insurance Policy covers specific goods during a specified Transit. The Policy covers goods from the point of origin till final destination during the specified voyage.

Key Features of National Specific Marine Insurance Policy

1. National Specific Voyage Marine Insurance Policy provides coverage against loss or damage to the Insured Cargo against perils such as collision, sinking, fire, jettison etc.
2. Additional covers for war, strikes, riots and civil commotion risks can be added for additional premiums.
3. This Policy is applicable for small business owners who do not have very frequent transits.
4. The Policy is applicable to multiple modes of transit, including sea, inland waterways, and land transport (road/rail).
5. Loss or Damage to Cargo due to wear and tear, inherent vice of cargo, war, insolvency of ship owners is excluded under the Policy
6. Premium rates depend on various factors like type of cargo, mode of transport, geography, claims history etc. and are determined accordingly.

National Marine Open Policy

The National Marine Open Policy provides Coverage for all cargo shipments taking place withing a year. The Policy is suitable for large companies with frequent cargo dispatches. The Insured must submit a monthly declaration of all the transits that took place in the previous month under a Marine Open Policy. The Policy eliminates the need to insure each transit separately, thus reducing the hassle of issuing a separate policy for each transit.

Key Features of National Marine Open Insurance Policy

1. A Marine Open Policy covers all shipments throughout the year; there is no need to issue a separate Policy for every transit
2. Premium Rate depends on nature of cargo, transit routes, type of conveyance used.
3. The Policy provides coverage for Perils like Sinking, Collision, Fire, Lightning, Earthquake etc
4. Insured must make periodic declaration of transits taking place to the Insurance Company
5. Certificates are issued under the Marine Open Policy for Individual Transits
6. The Sum Insured under the Marine Open Policy can be increased during the Policy Period

National Sales Turnover Policy

National Marine Sales Turnover Policy covers all the transits, such as Export Sales, Domestic Sales, Imports, Local Purchases, Inter-Factory Movements, Job Worker Movements, Capital Equipment and Container Movements under a Single Policy. The Insured does not need to make declarations of each transit as under a Marine Open Policy, rather he has to just declare the Sales Turnover Figures on a Periodic Basis under the STOP Policy.

Key Features of National Sales Turnover Policy

1. All Risk Coverage provided as per Institute Cargo Clauses
2. Sum Insured under the Sales Turnover Policy is determined on the Insured’s estimated sales for the current year.
3. Covers perils like Fire, Collision, Sinking, Earthquake, Theft during transit. Add-On Cover available for Wars, Strikes etc.
4. The Sales Turnover Policy eliminates the administrative hassle of having to provide monthly declarations of each and every transit as in a Marine Open Policy. There is no need for individual declarations per shipment
5. Sum Insured under the Sales Turnover Policy is determined on the Insured’s estimated sales for the current year.

National Customs Duty Insurance Policy

The National Custom Duty Insurance Policy covers the additional costs incurred due to customs duties on imported cargo. This policy is particularly useful when the landed cost of the cargo (including customs duty) exceeds the CIF (Cost, Insurance, and Freight) value.

Key Features of National Customs Duty Insurance Policy

1. A Customs Duty Insurance Policy Covers the additional costs of customs duties imposed on imported cargo.
2. Claims are paid on an actual basis, not on an agreed value basis.
3. A Custom Duty Policy is always issued in conjunction with a marine cargo insurance policy.
4. Claims under the duty policy are only admissible if the liability is first established under the Marine Insurance Policy.

Engineering Insurance Policies Offered by National Insurance Company

National Contractors All Risk (CAR) Insurance Policy

National Contractors All Risk Insurance Policy provides comprehensive coverage for loss or damage to an under-construction project due to fire, theft or natural disasters. The Contractors All Risks Insurance Policy is a must-have policy for all civil construction projects

Key Features of National Contractors All Risk (CAR) Insurance Policy

1. National Contractors All Risk Insurance Policy is suitable for a wide range of construction projects like buildings, roads, bridges, power plants etc
2. Material Damage Section: The Material Damage Section of the CAR Insurance Policy covers Physical Damage to the Property under construction, protecting against Perils such as Fire, Lightning, Theft, and Burglary.
3. Third-Party Liability Section: The Third-Party Liability Section of the Future Generali Contractors All Risk Insurance Policy provides coverage for the Legal Liability of the contractor for Bodily Injury or Property Damage caused to third parties because of work conducted on the site.
4. The Policy commences from the arrival of the first consignment at site and ends on successful commissioning of the project or expiry of the policy period, whichever is earlier
5. The Policy can be extended to include the interest of Principal, Contractors and Subcontractors.
6. Add-On Covers available to provide coverage for Act of God Perils (AOG Perils) such as Earthquake, Storms, Tempest, Floods, Inundation, etc.

National Erection All Risk (EAR) Insurance Policy

The National Erection All Risk Insurance Policy provides Insurance Coverage against risks associated with the during the erection, commissioning and testing stage of plants, machinery, and structures.

Key Features of National Erection All Risk (EAR) Insurance Policy

1. The EAR Insurance Policy covers sudden and unforeseen physical loss or damage to machinery and equipment while being erected, assembled, tested and commissioned at the project site.
2. The coverage is on an ‘All Risks’ basis including perils like fire, flood, theft, machinery breakdown, accidents during erection work etc.
3. The Material Damage Section of the Policy offers coverage on an ‘All Risks’ basis and provides cover for loss or damage to project materials against various perils such as Fire, Lightning, Theft and Burglary, Insulation Failures, Short Circuit, Explosions Storm, Floods, Earthquakes etc.
4. The Third-Party Liability Section offers coverage for Bodily Injury or Property Damage caused to Third Parties by the erection work.
5. The Policy Period starts from arrival of first consignment at the project site and terminates on completion of erection/testing/commissioning or the plant is taken over, whichever occurs first and the maintenance period thereafter.
6. Add-on covers available like Surrounding Property, Debris Removal, Third Party Liability, Escalation Costs, Air Freight, Extended Maintenance etc.
7. Major exclusions are war, nuclear risks, normal wear and tear, design faults, willful negligence etc.
8. The Policy is suitable for erection of industrial projects, power plants, refineries, factories, infrastructure construction etc.

Purchase National Insurance Policies with Qian!

Qian is a licensed Insurance Broker with National Insurance Company. We can assist you with all Insurance Policies as well as Claim Settlement Process with National Insurance Company. Get a Quote for National Insurance Company’s Insurance Policy with Qian at insurance@qian.co.in or call us on 022-35134695. We would be glad to assist you.