Reliance Car Insurance
Reliance offers one of the best car insurance policies for person who wants to ensure their car and want to enjoy safe driving. As we already know that reliance is one of the most reliable brands in India. Reliance will ensure the customers comforts first, because customers satisfaction is the main motive of company. If you are planning to buy car insurance policy then compare reliance car insurance plan with other competitive service providers and you will know why this is the best plan for you. Reliance Car Insurance services are offered by Reliance General Insurance Company. The insurance sector is now leveraging the online platform to an immense extent by offering buying or renewing car insurance policy services online. Reliance is among the most-trusted insurance provider in India having more than 139 branches and about 12000 intermediaries across the country. The company claims to deliver world-class insurance services to its customers. Being one of the leading companies of India, Reliance group offers satisfying and hassle-free general insurance services at lower competitive rates and with exciting discount deals.
What is car insurance?
Car insurance is mandatory for all the registered cars plying on the roads. Insurance covers the financial loss held due to any damage or accident occurred while driving the car. It is complete policy package also covering for personal injury and loss, or damage to the car at a slightly highly premium. Compensating a third party damage or injury is also an area covered under the insurance.
Types of car insurance:
Basically, there are two types of car insurance, namely, own damage (OD) and Third party (TP) liability cover.
1. Third party liability cover – Third party cover is a compulsory cover required under the Motor Vehicles Act, 1988 for any person owning, buying, or driving a car. This insurance cover protects the car driver against any legal liability, accidental liability, vehicle or property damage, and any financial loss occurred to the third party with the vehicle.
Check out the benefits of third party car insurance:
o Provide legal cover and finance assistance to car owner – TP policy covers the insured person’s legal liability in case of accident, death, and any loss or damage of third party. Reliance takes care of the legal and financial concerns of the insured person. Most essential benefit of such insurance is that it secures the driver or owner of the car involved in such circumstances from paying the legal liabilities.
o Peace of mind – This brings peace of mind and protects the owner/driver of the car from panicking during traumatic situations that directly hinges on financial settlements.
o Easy and quick procure procedure – It is quite easy and quick to buy or renew third party insurance policy.
o Cost-effective and favorable to the insurer during any unforeseen event – An enclosure of TP car insurance is extremely cost-effective in terms of incurred cost and premiums. Also, while calculating TP compensation, the evaluation is done on the basis of the insurer’s income.
o 365 days availability – unlike other policy methods, Reliance’s third party insurance can be purchased or renewed anytime through online platform from any location.
2. Own damage liability cover – Though, it is optional to buy, it is equally important to cover the loss or damage occurred to the car due to natural calamities like earthquakes, storms, floods, etc. It also covers car loss or damage due to vandalism, terror attacks, and/or riots along with providing external accident coverage.
Facilities Offered by Reliance Car Insurance
1. Convenient, easy and hassle free processing.
2. Facility to apply online and process even more transparent.
3. Policy approval without any documentation.
4. 24*7 customers support to resolve customers queries.
5. A quick survey team to calculate loss.
6. Cashless payment facility at more than 3800 service stations.
7. Multiple payment option facility for policy holders.
8. Offline support and facility for customers too.
9. Opportunity to save maximum while paying premium.
10. On road assistance for policy holders in case of accidents without any extra charges.
Reliance Car Insurance Cover
1. Policy holders will get cover in explosion, riots, flood, storm, cyclone, theft, typhoon, strikes, transit by rail, on road, lift, elevator or because of any other sold reason.
2. Reliance car insurance will offer liability for third party in case of death, major injuries or in case of loss in property.
3. Add on cover facility for personal accident cover for passenger, driver and owner.
Factors that Affects Car Insurance Premium
1. Age of your vehicle.
2. Design and model of your vehicle.
3. Geographical area of operating vehicle.
4. Cubic Capacity of your vehicle.
5. No claim bonus amount that is available in your account.
6. Depreciation percentage of your premium might affect plan.
Discount offered by Reliance Car Insurance
1. Being members of Automobile Association allow you to save your premium.
2. Your no claim bonus will allow you to save your next premium and you may save up to 50% of next premium.
3. If are buying higher voluntary services then you will definitely get options to save more on premium.
Reliance Car Insurance Exclusion Policy
1. Damaged caused because of drug or alcohol consumption.
2. Normal tears and wears over certain period of time.
3. Damaged caused by nuclear war or civil disturbance.
4. In case of electrical and mechanical damage.
5. In case of any consequential loss.
Reliance Car Insurance Claim Process
Policyholders need to submit following important details along with valid documents. Some of them are:
1. Brief description about accident.
2. Policy number
3. Name of insured person
4. Contact details.
5. Vehicle number
6. Date and time of accidents.
7. Model of vehicle.
Key highlights of Reliance Car Insurance Plan:
Third party coverage up to Rs.10 lakh
Personal accident insurance for 100% of capital sum insured of Rs.5 lakhs
Incurred claim ratio of 107.49%
2100+ wide network of garages across India
No claim bonus for every policy cycle
Features and Benefits of Car Insurance Policy:
Reliance General Insurance Company offers different variants of policy schemes to meet customer’s preferences. There are several features and benefits of the insurance plans, some of them are mentioned below to let you get a fair idea about the importance of car insurance.
• The Reliance insurance plans are offered for both business and private vehicles
• 24*7 quick spot assistance is provided in case of breakdown or accidents
• One time key loss and duplicate key replacement is also covered and provided respectively for both new and existing customers
• Towing car facility is also offered in case of a breakdown or accident
• Moreover, add-on car insurance coverage can also be opted by individual customers to grab accident shield, consumable expenses, and conveyance benefits.
• The firm also offers assistance in terms of arranging a cab or nearby hotel accommodations in case of breakdown or accidents
• The company has a quickest turnaround time for claim settlement
• Service claim can be settled in a cashless across their wide network of garages with about 2300+ garages across India
• The company also offers No Claim Bonus (NCB) in the form of discounts while paying next year’s premium. The discount can be hoarded on annual basis beginning from 20% in the first year and 25% in the next. The same is followed for the subsequent claim free insurance cycle.
Reliance Car Insurance coverage benefits:
Personal accident bundle cover – The Company offers personal accident bundle cover in case of lifetime disability or death of the insured driver or owner of the car. However, the sum of insured amount can vary depending upon the level of damage caused. The list of benefits and insured sum amount is mentioned below:
Get compensation at the rate of 100% of the capital sum insured, which is fixed at a maximum of Rs.10 lakhs, in case of death or lifetime disability of the policy owner
Get compensation at the rate of 100% of the capital sum insured, which is fixed at a maximum of Rs.10 lakhs, in case of loss of two limbs and loss of vision for both the eyes
Get compensation at the rate of 50% of the capital sum insured, which is fixed at a maximum of Rs.10 lakhs, in case of loss of one limb and loss of vision for one eye
Add-on cover – In order to increase the policy coverage of the vehicle, opt for add-on covers by paying just a little extra premium. One of the additional add-ons covered under the Reliance Car Insurance is no claim bonus retention. No claim bonus (NCB) allows the policy owner to retain the NCB even during the claim years. All they need to do is pay an additional amount in order to avail this benefit. However, there are certain things to be kept in mind while opting for no claim bonus.
The amount of NCB retention should be at least 25% of the vehicle value
The next year’s policy should be renewed within 90 days of expiry of previous policy
One approved claim should be made during the policy period
Motor secure plus cover – This is another add-on cover protecting against nil depreciation, consumables, and engine cover.
• Nil depreciation cover provides protection against the decreased value of a vehicle owing to the depreciation of the vehicle. No depreciation is charged for the car’s part except tubes and tyres. However, the cover is only applicable for privately-owned cards and the claims cannot be made more than two during one insurance policy cycle. In case of partial loss or damage, the settlement claim will only be covered if the repair services have been taken from the Reliance’s networked garages. Moreover, mandatory excess and voluntary deductible will be levied as applicable.
• Consumable cover is applicable, in case, if the car meets the damage for any specified reason covered under the scope of the policy, the company is responsible for covering the expenses of consumables which needs to be replenished or replaced at the time of repairs carried out to the damaged vehicle. The consumables covered under the policy include gear box oil, engine oil, power steering oil, AC gas oil, coolant, brake oil, battery electrolyte, bearings, fuel filter, washer, clip, wheel balancing weights, and other such related consumable parts. However, the cover is only applicable for privately-owned cards and the claims cannot be made more than two during one insurance policy cycle. In case of partial loss or damage, the settlement claim will only be covered if the repair services have been taken from the Reliance’s networked garages.
• Engine cover add-on coverage plan covers any expense incurred against fixing any damage caused to engine, engine parts, or gear box due to water ingression or leakage of lubricant oil from the mentioned parts. However, the claim has to be made within 7 days from the date of damage caused.
• Key protect cover provides security against any damage or loss caused to the car keys at the time of repairing or replacing the car keys or lock. Further, the key protect cover can also be claimed against damage or loss of keys due to theft or robbery or any other damage caused to the car’s lockset. However, there are certain conditions applicable in order to claim the cover. This includes:
o The number of key protect cover claims should not be more than two during one insurance cycle
o The policy holder needs to bring a copy of FIR (First Information Report) made with the specific area’s police station to request a claim
o The lost key report should meet the features of an insured car’s lockset against which the claim is being made
o The claim needs to be requested within 7 days from the date of loss or damage occurred
o Key replacement is only applicable in the case of completely broken or damaged keys
Scope of claim coverage under Reliance Car Insurance:
Loss or damage caused by natural calamities and any other type of fire, lightening, etc.
Any loss or damage caused due to man-made calamities such as burglary, riot, robbery, terrorism, and so on
The Reliance policy covers the claim for accident happened to the insured car’s owner or registered driver
Third party liability claim is also covered under the policy as mandated by the law for any injury, damage, or death of a person or third party’s property
Electrical or electric fitting expenses are also covered under the policy such as music system, fog lamps, AC, and spoilers with brake lights
Non-electrical fittings like mag wheels, non-electrical spoilers, seat covers, and so on are also covered under the car insurance policy plan according to the own damage rate on the value of the accessories
CNG kit and Bi-fuel system as certified on the vehicle’s RC book will also be covered under the policy, though, at an additional cost.
How to apply for Car Insurance Policy by Reliance:
o Any person can get in touch with the company’s representatives via making a call at the toll free number
o Requesting a call back by registering an application on the company’s website
o Directly walking in to the Reliance’s general insurance outlets