United India And New India Assurance information includes incurred claims ratio, policy status, type of plan etc. United India Liability Policy is a Liability Policies where as New India Assurance Liability Policy is Liability Policy. For year 2014-15 incurred claim ratio of United India Liability Policy is 73.96 %. However it is 86.83 % for United India Liability Policy. Incurred claims ratios are specified as per IRDA publications.
Online buying feature is available in almost all policies. Since United India Liability Policy is In-Force, one can buy it online at present time. In addition to this some insurers also provide a facility to renew policies online. United India Liability Policy can be renewed online. On the other hand, New India Assurance Liability Policy is In-Force, and this plan supports online buying.
Depreciation Rates For IDV are based on manufacturers' listed selling price of the brand, model of the vehicle and age of the vehicle. In case your vehicle gets stolen or damaged, insurance firm is liable to give the claim amount to the policy holder as per declared policy terms. Generally, depreciation rates remain same for all insurance providers. The depreciation rates are adjusted in the range of Not Available to Not Available for age of the vehicle less than 6 months to vehicle being 4 to 5 years old respectively.
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