Neco Insurance Ltd is one of Nepal's leading general (non-life) insurance companies, underwriting property, motor, aviation, marine, engineering, agriculture and miscellaneous risks.
Government-supported agriculture portfolio covering cattle, buffalo, goat, poultry and crops (rice, vegetables, fruit) against death, disease, accident and natural calamity; proposal forms available for goat, cattle, poultry, rice, vegetable and fruit.
Sum insured
Rs 10,000 – Rs 10 lakh
Policy term
1 yrs
Annual premium
Rs 25,000/yr
Premium term
Annual (1 year)
Annual premium: Standardized livestock/crop tariff: premium = 5% of sum insured per year, of which the government subsidizes ~75%, so the farmer pays ~1.25% (e.g. Rs 1,250/year net on Rs 100,000 sum insured before subsidy Rs 5,000).
Government-supported agriculture portfolio covering cattle, buffalo, goat, poultry and crops (rice, vegetables, fruit) against death, disease, accident and natural calamity; proposal forms available for goat, cattle, poultry, rice, vegetable and fruit.
Riders: Transit cover for livestockAdditional natural calamity perils
Plan details
Exclusions: Intentional slaughter, theft (unless covered), pre-existing disease, war, negligence, loss outside policy area.
Aviation Hull & Liabilities Insurance
Aviation
Aviation policy (code HL, first issued 1996) covering aircraft hull (physical damage) and legal liabilities to passengers and third parties; part of a full aviation suite (hull war, hull deductible, aero-engine breakdown, loss of licence, aviation personal accident).
Sum insured
Rs 1 crore – Rs 1,000 crore
Policy term
1 yrs
Premium term
Annual (1 year)
Annual premium: Bespoke/placed premium (largely reinsurance-driven) as a percentage of the agreed insured hull value plus liability limits; not a published fixed tariff.
Aviation policy (code HL, first issued 1996) covering aircraft hull (physical damage) and legal liabilities to passengers and third parties; part of a full aviation suite (hull war, hull deductible, aero-engine breakdown, loss of licence, aviation personal accident).
Riders: Hull WarHull DeductibleAero-Engine BreakdownLoss of LicenceAviation Personal Accident
Plan details
Exclusions: Wear and tear, mechanical breakdown (unless covered), war/hijacking unless extended, use outside permitted geographical/operational limits, unlicensed crew.
Contractors' All Risks (CAR) Insurance
Engineering
Engineering policy (code CAR, first issued 1996) giving all-risks cover for civil construction projects against physical loss/damage during the construction period plus third-party liability.
Sum insured
Rs 10 lakh – Rs 500 crore
Policy term
1–5 yrs
Premium term
Single premium for project term
Annual premium: Premium per Nepal engineering tariff based on contract value, project type and period; typically a fraction of a percent of the total contract value for the whole project term.
Engineering policy (code CAR, first issued 1996) giving all-risks cover for civil construction projects against physical loss/damage during the construction period plus third-party liability.
Riders: Erection All Risks (EAR)Surrounding propertyMaintenance coverContractors Plant & Machinery
Plan details
Exclusions: Defective design/material/workmanship, wear and tear, consequential loss, war, nuclear, penalties for delay, normal upkeep.
Contractors' Plant & Machinery (CPM) Insurance
Engineering
Engineering policy covering construction plant, machinery and equipment against accidental physical loss or damage whether at work, at rest or during maintenance on site.
Sum insured
Rs 5 lakh – Rs 50 crore
Policy term
1 yrs
Premium term
Annual (1 year)
Annual premium: Annual rate per Nepal engineering tariff, a small percentage of the sum insured (replacement value) of the plant/equipment fleet.
Engineering policy covering construction plant, machinery and equipment against accidental physical loss or damage whether at work, at rest or during maintenance on site.
Riders: Third-party liabilityMachinery Breakdown
Plan details
Exclusions: Electrical/mechanical breakdown (covered under MB), wear & tear, vehicles licensed for road use, consequential loss, war.
Erection All Risks (EAR) Insurance
Engineering
Engineering policy covering the erection/installation of plant, machinery and steel structures against physical loss or damage during erection and testing, plus third-party liability.
Sum insured
Rs 10 lakh – Rs 500 crore
Policy term
1–3 yrs
Premium term
Single premium for project term
Annual premium: Single premium for the erection period per Nepal engineering tariff, based on total erected value and project risk.
Engineering policy covering the erection/installation of plant, machinery and steel structures against physical loss or damage during erection and testing, plus third-party liability.
Exclusions: Faulty design, wear and tear, consequential loss, penalties, war and nuclear, gradual deterioration.
Machinery Breakdown / Boiler Explosion Insurance
Engineering
Engineering covers for sudden and unforeseen electrical/mechanical breakdown of operating machinery, and for boiler/pressure-vessel explosion and implosion damage.
Sum insured
Rs 5 lakh – Rs 50 crore
Policy term
1 yrs
Premium term
Annual (1 year)
Annual premium: Annual rate per Nepal engineering tariff as a percentage of machinery/boiler sum insured, varying with machine type and age.
Engineering covers for sudden and unforeseen electrical/mechanical breakdown of operating machinery, and for boiler/pressure-vessel explosion and implosion damage.
Riders: Loss of Profit (engineering)Third-party liability
Plan details
Exclusions: Wear and tear, gradual deterioration, faults existing at inception, fire (covered under fire policy), consequential loss unless extended.
House / Householder's Insurance
Fire / Property
Package home insurance covering the dwelling building and household contents against fire and allied perils, with optional burglary and personal accident sections.
Sum insured
Rs 5 lakh – Rs 5 crore
Policy term
1 yrs
Annual premium
Rs 0.75 / 1,000
Premium term
Annual (1 year)
Annual premium: Rate per Nepal Property Tariff 2076 ~Rs 0.50-1.00 per 1,000 sum insured on building/contents; combined-package discounts apply.
Package home insurance covering the dwelling building and household contents against fire and allied perils, with optional burglary and personal accident sections.
Riders: BurglaryEarthquakePersonal accident
Plan details
Exclusions: Money/valuables unless specified, war, wear and tear, property under construction, consequential loss.
Property (Fire) Insurance
Fire / Property
Standard fire and allied-perils property policy (code PROP, first issued 1996) covering buildings, stocks, factories, machinery, hotels, schools and warehouses up to an agreed sum insured.
Sum insured
Rs 5 lakh – Rs 100 crore
Policy term
1 yrs
Annual premium
Rs 1 / 1,000
Premium term
Annual (1 year)
Annual premium: Rs 50,00,000 standard residential building, Class A (RCC) construction, ~Re 1 per thousand (0.10%) base fire rate under NIA Property Tariff 2076 — derived/approximate, excludes earthquake & add-on perils
Standard fire and allied-perils property policy (code PROP, first issued 1996) covering buildings, stocks, factories, machinery, hotels, schools and warehouses up to an agreed sum insured.
Riders: EarthquakeLoss of Profit / Business InterruptionTerrorismBurglary extension
Plan details
Exclusions: War, nuclear risk, spontaneous combustion, buildings under construction, goods stored in open, consequential loss (unless Loss of Profit added), willful negligence.
Group / Personal Accident Insurance
Medical / Health
Personal accident cover (individual, group and aviation/trekking variants) paying lump-sum/medical benefits for accidental death, permanent or temporary disablement and accident medical expenses, 24-hour worldwide.
Sum insured
Rs 1 lakh – Rs 1 crore
Policy term
1 yrs
Entry age
16–70 yrs
Annual premium
Rs 2 / 1,000
Premium term
Annual (1 year)
Annual premium: Premium typically ~Rs 1-3 per 1,000 of capital sum insured per year depending on occupational risk class; group schemes get volume discounts.
Personal accident cover (individual, group and aviation/trekking variants) paying lump-sum/medical benefits for accidental death, permanent or temporary disablement and accident medical expenses, 24-hour worldwide.
Riders: Medical expenses extensionTrekking/aviation extension
Health insurance policy (code HI, first issued 1996) reimbursing hospitalization and medical-treatment expenses up to the chosen sum insured; available on individual and group bases.
Sum insured
Rs 1 lakh – Rs 25 lakh
Policy term
1 yrs
Entry age
0–70 yrs
Premium term
Annual (1 year)
Annual premium: Premium rises with age and sum insured; entry-level cover from roughly Rs 3,000-5,000 per year for ~Rs 1 lakh sum insured, scaling up for higher cover and older ages.
Health insurance policy (code HI, first issued 1996) reimbursing hospitalization and medical-treatment expenses up to the chosen sum insured; available on individual and group bases.
Marine policy (code MRN, first issued 1996) covering loss or damage to cargo and goods in transit by land, rail, sea and air between origin and final destination.
Sum insured
Rs 1 lakh – Rs 50 crore
Policy term
1 yrs
Annual premium
Rs 1 / 1,000
Premium term
Per transit or annual (1 year)
Annual premium: Rs 10,00,000 sum insured, standard marine cargo; rate ~Rs 1.0 per 1,000.
Marine policy (code MRN, first issued 1996) covering loss or damage to cargo and goods in transit by land, rail, sea and air between origin and final destination.
Riders: War riskStrikes/Riots/Civil Commotion (SRCC)Marine hull cover
Plan details
Exclusions: Inherent vice, ordinary wear and tear, delay, insufficient packing, willful misconduct, war/strikes unless extended, loss of market.
Commercial Vehicle Insurance
Motor
Motor cover for goods carriers, buses, taxis, tractors and other commercial vehicles; comprehensive own-damage plus mandatory third-party liability.
Sum insured
Rs 5 lakh – Rs 2 crore
Policy term
1 yrs
Annual premium
Rs 15 / 1,000
Premium term
Annual (1 year)
Annual premium: Private car COMPREHENSIVE on Rs 15,00,000 vehicle (1001-1600cc): own-damage ~1.5% of value (~Rs 22,500) + third-party tariff (~Rs 8,487) — derived from NIA Motor Tariff 2073, approximate. Third-party-only fixed tariff alternative: 1001-1600
Motor cover for goods carriers, buses, taxis, tractors and other commercial vehicles; comprehensive own-damage plus mandatory third-party liability.
Riders: Passenger personal accidentRiot & Strike DamageTerrorismNatural calamity extension
Comprehensive and third-party two-wheeler cover (motorcycles/scooters). Own-damage plus mandatory third-party liability with optional add-ons.
Sum insured
Rs 1 lakh – Rs 10 lakh
Policy term
1 yrs
Premium term
Annual (1 year)
Annual premium: Fixed third-party tariff, motorcycle up to 150cc = Rs 1,707; 151-250cc = Rs 1,933; 251cc+ = Rs 2,159 (NIA Motor Tariff). Comprehensive adds own-damage ~1.5% of bike value
Comprehensive and third-party two-wheeler cover (motorcycles/scooters). Own-damage plus mandatory third-party liability with optional add-ons.
Comprehensive and third-party motor cover for private cars and EVs (policy code PC, first issued 1996). Covers accidental own-damage and third-party liability; optional terrorism and riot/strike damage cover.
Sum insured
Rs 10 lakh – Rs 1 crore
Policy term
1 yrs
Annual premium
Rs 15 / 1,000
Premium term
Annual (1 year)
Annual premium: Private car COMPREHENSIVE on Rs 15,00,000 vehicle (1001-1600cc): own-damage ~1.5% of value (~Rs 22,500) + third-party tariff (~Rs 8,487) — derived from NIA Motor Tariff 2073, approximate. Third-party-only fixed tariff alternative: 1001-1600
Comprehensive and third-party motor cover for private cars and EVs (policy code PC, first issued 1996). Covers accidental own-damage and third-party liability; optional terrorism and riot/strike damage cover.
Exclusions: Wear and tear, mechanical/electrical breakdown, depreciation, driving without valid licence, drink/drug driving, use outside Nepal, consequential loss, war (unless covered).
Travel Medical Insurance
Travel
Travel medical policy (code TMI, first issued 1997) for Nepalis travelling abroad and foreigners, covering overseas medical/emergency expenses, accident, repatriation and trip-related benefits; SAARC, worldwide and worldwide-incl-USA/Canada zones.
Sum insured
Rs 66.5 lakh – Rs 1.33 crore
Policy term
1 yrs
Entry age
70 yrs
Premium term
Per trip (up to ~1 year)
Annual premium: 30-day worldwide adult single trip; representative market range Rs 1,500-2,500.
Travel medical policy (code TMI, first issued 1997) for Nepalis travelling abroad and foreigners, covering overseas medical/emergency expenses, accident, repatriation and trip-related benefits; SAARC, worldwide and worldwide-incl-USA/Canada zones.
Exclusions: Pre-existing conditions, self-inflicted injury, hazardous sports unless covered, travel against medical advice, war, pregnancy complications (after limit), routine check-ups.
Trekking & Expedition / Travel Accident Insurance
Travel
Specialized personal-accident and emergency cover for trekkers and mountaineering expeditions (expedition code EPA, plus trekking personal accident), covering accidental injury and rescue/evacuation in high-altitude terrain.
Sum insured
Rs 5 lakh – Rs 50 lakh
Policy term
1 yrs
Premium term
Per trip/expedition
Annual premium: Premium scaled to sum insured, trek/expedition duration and altitude; modest per-person/per-trip premium with helicopter rescue/evacuation cover; trekking declaration form required.
Specialized personal-accident and emergency cover for trekkers and mountaineering expeditions (expedition code EPA, plus trekking personal accident), covering accidental injury and rescue/evacuation in high-altitude terrain.
Riders: Medical expenses extensionHigher rescue limit
Plan details
Exclusions: Sickness unrelated to accident, pre-existing conditions, reckless conduct, expeditions outside declared route/altitude, war.
About Neco
Neco Insurance Ltd was established on 1st Poush 2051 BS (16 December 1994) and began general insurance operations on 17th Jeshtha 2053 BS (30 May 1996) under a license from the Insurance Board (now Nepal Insurance Authority). It is a public limited company with 51% promoter holding and 49% public shareholding, with major promoters including the Mahato Group, Rastriya Banijya Bank Ltd., Citizen Investment Trust and Agriculture Development Bank Ltd. The company operates a network of 81 outlets across Nepal comprising 30 branches, 47 sub-branches, 3 TP-counters and 1 contact office, and has a strategic technical partnership with AIG (American International Group). Its head office is at Beema Bhawan, Gyaneshwor, Kathmandu, with a paid-up capital of about NPR 2.69 billion.
Deposit and loan rates effective Asar 2083, aggregated from the bank's published disclosures; card figures are indicative. Confirm with the bank before applying.
