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.
बीमाङ्क
Rs 10,000 – Rs 10 lakh
पोलिसी अवधि
1 yrs
वार्षिक प्रिमियम
Rs 25,000/yr
प्रिमियम अवधि
Annual (1 year)
वार्षिक प्रिमियम: 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.
राइडर: Transit cover for livestockAdditional natural calamity perils
योजना विवरण
बहिष्करण: Intentional slaughter, theft (unless covered), pre-existing disease, war, negligence, loss outside policy area.
Aviation Hull & Liabilities Insurance
उड्डयन
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).
बीमाङ्क
Rs 1 crore – Rs 1,000 crore
पोलिसी अवधि
1 yrs
प्रिमियम अवधि
Annual (1 year)
वार्षिक प्रिमियम: 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).
राइडर: Hull WarHull DeductibleAero-Engine BreakdownLoss of LicenceAviation Personal Accident
योजना विवरण
बहिष्करण: Wear and tear, mechanical breakdown (unless covered), war/hijacking unless extended, use outside permitted geographical/operational limits, unlicensed crew.
Contractors' All Risks (CAR) Insurance
इन्जिनियरिङ
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.
बीमाङ्क
Rs 10 lakh – Rs 500 crore
पोलिसी अवधि
1–5 yrs
प्रिमियम अवधि
Single premium for project term
वार्षिक प्रिमियम: 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.
राइडर: Erection All Risks (EAR)Surrounding propertyMaintenance coverContractors Plant & Machinery
योजना विवरण
बहिष्करण: Defective design/material/workmanship, wear and tear, consequential loss, war, nuclear, penalties for delay, normal upkeep.
Contractors' Plant & Machinery (CPM) Insurance
इन्जिनियरिङ
Engineering policy covering construction plant, machinery and equipment against accidental physical loss or damage whether at work, at rest or during maintenance on site.
बीमाङ्क
Rs 5 lakh – Rs 50 crore
पोलिसी अवधि
1 yrs
प्रिमियम अवधि
Annual (1 year)
वार्षिक प्रिमियम: 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.
राइडर: Third-party liabilityMachinery Breakdown
योजना विवरण
बहिष्करण: Electrical/mechanical breakdown (covered under MB), wear & tear, vehicles licensed for road use, consequential loss, war.
Erection All Risks (EAR) Insurance
इन्जिनियरिङ
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.
बीमाङ्क
Rs 10 lakh – Rs 500 crore
पोलिसी अवधि
1–3 yrs
प्रिमियम अवधि
Single premium for project term
वार्षिक प्रिमियम: 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.
बहिष्करण: Faulty design, wear and tear, consequential loss, penalties, war and nuclear, gradual deterioration.
Machinery Breakdown / Boiler Explosion Insurance
इन्जिनियरिङ
Engineering covers for sudden and unforeseen electrical/mechanical breakdown of operating machinery, and for boiler/pressure-vessel explosion and implosion damage.
बीमाङ्क
Rs 5 lakh – Rs 50 crore
पोलिसी अवधि
1 yrs
प्रिमियम अवधि
Annual (1 year)
वार्षिक प्रिमियम: 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.
राइडर: Loss of Profit (engineering)Third-party liability
योजना विवरण
बहिष्करण: Wear and tear, gradual deterioration, faults existing at inception, fire (covered under fire policy), consequential loss unless extended.
House / Householder's Insurance
आगलागी / सम्पत्ति
Package home insurance covering the dwelling building and household contents against fire and allied perils, with optional burglary and personal accident sections.
बीमाङ्क
Rs 5 lakh – Rs 5 crore
पोलिसी अवधि
1 yrs
वार्षिक प्रिमियम
Rs 0.75 / 1,000
प्रिमियम अवधि
Annual (1 year)
वार्षिक प्रिमियम: 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.
राइडर: BurglaryEarthquakePersonal accident
योजना विवरण
बहिष्करण: Money/valuables unless specified, war, wear and tear, property under construction, consequential loss.
Property (Fire) Insurance
आगलागी / सम्पत्ति
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.
बीमाङ्क
Rs 5 lakh – Rs 100 crore
पोलिसी अवधि
1 yrs
वार्षिक प्रिमियम
Rs 1 / 1,000
प्रिमियम अवधि
Annual (1 year)
वार्षिक प्रिमियम: 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.
राइडर: EarthquakeLoss of Profit / Business InterruptionTerrorismBurglary extension
योजना विवरण
बहिष्करण: 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
स्वास्थ्य
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.
बीमाङ्क
Rs 1 lakh – Rs 1 crore
पोलिसी अवधि
1 yrs
प्रवेश उमेर
16–70 yrs
वार्षिक प्रिमियम
Rs 2 / 1,000
प्रिमियम अवधि
Annual (1 year)
वार्षिक प्रिमियम: 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.
राइडर: 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.
बीमाङ्क
Rs 1 lakh – Rs 25 lakh
पोलिसी अवधि
1 yrs
प्रवेश उमेर
0–70 yrs
प्रिमियम अवधि
Annual (1 year)
वार्षिक प्रिमियम: 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.
बीमाङ्क
Rs 1 lakh – Rs 50 crore
पोलिसी अवधि
1 yrs
वार्षिक प्रिमियम
Rs 1 / 1,000
प्रिमियम अवधि
Per transit or annual (1 year)
वार्षिक प्रिमियम: 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.
राइडर: War riskStrikes/Riots/Civil Commotion (SRCC)Marine hull cover
योजना विवरण
बहिष्करण: Inherent vice, ordinary wear and tear, delay, insufficient packing, willful misconduct, war/strikes unless extended, loss of market.
Commercial Vehicle Insurance
मोटर
Motor cover for goods carriers, buses, taxis, tractors and other commercial vehicles; comprehensive own-damage plus mandatory third-party liability.
बीमाङ्क
Rs 5 lakh – Rs 2 crore
पोलिसी अवधि
1 yrs
वार्षिक प्रिमियम
Rs 15 / 1,000
प्रिमियम अवधि
Annual (1 year)
वार्षिक प्रिमियम: 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.
राइडर: 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.
बीमाङ्क
Rs 1 lakh – Rs 10 lakh
पोलिसी अवधि
1 yrs
प्रिमियम अवधि
Annual (1 year)
वार्षिक प्रिमियम: 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.
बीमाङ्क
Rs 10 lakh – Rs 1 crore
पोलिसी अवधि
1 yrs
वार्षिक प्रिमियम
Rs 15 / 1,000
प्रिमियम अवधि
Annual (1 year)
वार्षिक प्रिमियम: 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.
बहिष्करण: 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
यात्रा
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.
बीमाङ्क
Rs 66.5 lakh – Rs 1.33 crore
पोलिसी अवधि
1 yrs
प्रवेश उमेर
70 yrs
प्रिमियम अवधि
Per trip (up to ~1 year)
वार्षिक प्रिमियम: 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.
बहिष्करण: 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
यात्रा
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.
बीमाङ्क
Rs 5 lakh – Rs 50 lakh
पोलिसी अवधि
1 yrs
प्रिमियम अवधि
Per trip/expedition
वार्षिक प्रिमियम: 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.
राइडर: Medical expenses extensionHigher rescue limit
योजना विवरण
बहिष्करण: 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.
