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National Insurance Company Ltd.


National Insurance Company Ltd is headquartered in Kolkata and is one of the leading general insurance companies in India. The company belongs to the public sector, and has approximately 16,000 professionals working under the brand name and almost a thousand branch offices across the country.
The company has pervaded through out the rural sector, as well as the metropolitan cities and the also the secluded townships. The domestic operations are carried out by the offices across India, and the foreign operations are monitored by the branch offices that are there in Nepal.
National Insurance Company Ltd. has a structured and organized home insurance policy system keeping in mind the security and benefit of the house owner.
Services provided by National Insurance Company Ltd
The company has over two hundred policies that cater to all the insurance demands and requirements of its customers. There are at the present moment 14 million policy holders. The segments that the company provides its services are:-
  • Automobile
  • Telecom
  • Shipping
  • Aviation
  • Information Technology
  • Power & Energy
  • Plantation
  • Foreign Trade
  • Tea
  • Healthcare
  • Agronomy
  • Education
  • Space Research
  • Environment
National Insurance Company Ltd also provides security for and covers the customary insurance schemes that include indemnity against marine, fire and other allied risks.
Home Insurance Policy – Salient Features
Under this home insurance policy by the National Insurance Company Ltd, all the personal damages and loss of the household goods would be covered. A number of risks are taken care of under a particular policy. The scope and opportunity of the coverage can be divided under the following sections. They are:-
Scopes of Insurance Coverage
Section 1
This would include the loss and damage caused by the fire and other related dangers. The areas covered are:-
  • Components
  • Building or Residence
This principle looks towards covering the loss and damage caused to the residence or the building and its belongings by fire and other related dangers. This can include the damages caused by social or communal riots, thunders and lightning, flood, earthquakes, explosions and the like.
Section 2
Housebreaking and Burglary
This takes care of and covers all the premises against the damages caused by any unforeseen burglary and house theft. The rate of the premium here is calculated at Rs.2.40 per mile.
Section 3
All risks
This covers and provides insurance for the damages that are caused to all the valuable belongings and jewelry. The damage can be caused through an accident anywhere in India. The calculations for the present receipt/ invoice or certificate valuation need to be substantiated for valuables that are worth more than Rs.5000 each. The rate of the premium here is stipulated at Rs.10.05 per mile.
Section 4
Plate Glass
This section covers any kind of damage that occurs to fixed plate glass within the insured premises of the house by any accident. The rate of premium here is calculated at Rs.10.05 per mile.
Section 5
Damage or breakdown of home appliances
This section ensures the insurance cover for any kind of damage of any home equipment. This can take place through any electrical or mechanical malfunctioning or breakdown. The rate of premium here is calculated at Rs.2.50 per mile. The sum that is covered or insured is always in respect of the apparatus’s latest replacement value.
Section 6
Television Sets & VCR
This section looks into any sort of damage that might occur to the television or the VCR/VCP sets within the house. The damage can take place through any fire or other dangers, theft, social riot attacks, accidents and the like. It can also be due to any mechanical breakdown. The legal liability for the same is fixed at Rs.25, 000 as the limit. The rate of the premium here is Rs.10.05 per mile.
Section 7
Pedal Cycle
This policy covers any kind of loss or aggravations that are caused to the pedal cycle belongings to the insured, which takes place by fire or any other related mishaps. Accidents through any external channel, theft, burglary are also included here. The legal liability limit is fixed to Rs.10, 000 and the premium limit here is fixed at Rs.20.05 per mile.
Section 8
Any harm or loss that takes place on the accompanied baggage by a mishap or accident, whilst the insured is traveling any where in India is covered under this policy. The premium rate is Rs7.55 per mile.
Section 9
Personal Accident
This policy covers the insured including his children and spouse, between the age group of 5 to 70 years from any accident. The policy covers and provides insurance for any demise, permanent partial or complete disablement and the like.