Reliance General Car Insurance
Reliance General Insurance commenced its operations on 17th August, 2000. It is a part of Reliance Group and is one of the most renowned General insurance providers in India. They have more than 139 offices and 26,587 advisors across the country.
Reliance Insurance provides a variety of insurance products, including motor insurance for corporates, individuals, and SMEs. Their range of services includes motor, travel, health insurance and many more.
Reliance car insurance is available for private cars as well as commercial vehicles. It includes emergency roadside assistance and cashless services at more than 3800 network garages in India.
Reliance Car Insurance at a Glance:
|Incurred Claim Ratio||91.39%|
|Personal Accidental Cover||100% of Capital Sum Insured of 5 lakhs|
|Third-party Cover||Up to Rs. 7.5 lakhs|
|No-claim-bonus||Up to 50%|
|Nil Depreciation Cover||Add-on Benefit|
Importance of Car Insurance –
Having a car insurance policy during an accident will save you from the financial shock. The insurer will take care of the expenses incurred on damage repair and any other legal liabilities when an emergency strikes. However, if you do not have car insurance, you will have to bear the expenses on your own. And it will wipe off your savings.
Not only, it will offer you financial protection but will ensure the flawless upkeep of your prized possession.
Why Reliance Car Insurance?
It is mandatory to have car insurance for all the car owners in India. Reliance Car Insurance Plans are designed to offer you maximum protection in the most affordable manner.
Third party car insurance covers loss or damage caused to a third-party property or person from your car. And comprehensive car insurance plan will cover your own damage and third-party damage also.
You can avail various other add-on benefits in their comprehensive car insurance policy. You can avail benefits like personal accident cover, zero-depreciation benefit, key-replacement cover etc. And if you opt for zero-depreciation cover you can claim the full amount. Have a look at some of the advantages of Reliance Car Insurance below-
Advantages of Reliance Car Insurance
- 24×7 Emergency Roadside Assistance
- 3800+ Network Garages for Cashless Services
- Easy Online Renewal Process
- Comprehensive and Third-Party Insurance Cover
- Increased Protection with Add-On Covers
Reliance Car Insurance Inclusions and Exclusions –
Third-Party Liability Cover (as per Motor Vehicle Act)
Please refer to Reliance Car Insurance policy-wording for more details.
Deduction Rates that are applicable on replaced parts –
- No deductions on parts made of glass
- 30% deduction on fiberglass components
- 50% deduction on parts made of rubber, nylon, or plastic like airbags, tires, tubes, and batteries
For other parts, the rate of depreciation is as follows –
|Age of the Vehicle||Depreciation Applicable (%)|
|Up to 6 months||Not Applicable|
|6 months to 1 year||5|
|1 to 2 years||10%|
|More than 10 years||50|
(Source- Reliance General Insurance)
Additional covers available in Reliance Car Insurance
You probably must be thinking, if it is worthwhile to buy add-on covers? The add-on benefits come at an extra cost. Some features may even cost almost 20% of the basic policy.
But with these add-on covers, you can give yourself and your car the best possible protection. You can secure your car against the unforeseen damages, which may arise while driving on the road. Here’s a quick rundown of the Reliance Car Insurance Add-on covers that you can buy-
1. Zero Depreciation Cover
Zero-dep cover helps in reducing car insurance premium significantly. The expenses pertaining to voluntary deductibles and depreciation of car parts are paid by the insured at the time of claim.
But with this add-on, you are entitled to claim the full amount of sum assured. Depreciation on car parts will not be deducted (except the tubes and tyres). If your car is new then nil-depreciation cover is highly recommended for you.
There are certain criterions to zero-depreciation cover with Reliance Car Insurance-
- It is valid for a maximum of two claims during the policy period
- A claim arising due to partial losses will be settled only if the repaired work was carried out at network garages
- Compulsory deductibles will be applicable on the claim amount and Voluntary Deductibles are optional
2. No-Claim-Bonus Protection Cover
No-Claim Bonus is accrued for every claim-free year. You can earn NCB in the insurance renewal premium for the subsequent year. With this add-on cover, you can earn no-claim-bonus even if you have made a claim with Reliance Car Insurance.
If the value of your car is less than 10 lakhs and is more than 2 years old, it is advisable that you opt for this benefit.
With Reliance Car Insurance NCB is applicable under the following circumstances –
- The NCB should be 25% and above
- Only one accidental claim has been settled during that policy period
- The total payout is up to 25% of IDV, as mentioned in the policy documents
- The normal grace period for this NCB is 90 days from the renewal/expiry of the policy
3. Motor Secure Plus Cover
To enhance your insurance coverage, you can go for this add-on cover. It is a mix of the engine cover, consumables cover and zero-depreciation cover in one plan.
Undoubtedly, a car engine is the most important part. Engine protection cover includes damages caused to a car by lubricating oil leakage or water ingression. It covers damages caused to engine parts, gearbox parts, and differential parts.
Sometimes, the cost of consumables can significantly increase the car repair bill amount. In order to reduce the expenditure on consumable repair, it is advisable that you buy this add-on cover.
The cost of consumable items like engine oil, nuts and bolts, oil filter, screws, grease, washers, lubricants, AC gas, and brake oil is recompensed. Provided the damage was caused due to the perils mentioned in Reliance Car Insurance policy documents.
4. Motor Secure Premium Cover
It includes the Engine and Consumable Cover, along with key-replacement cover in one plan.
Benefits provided in Engine and Consumable Cover are same as Motor Plus plan. Check out the details of key protect cover below-
Key Protect Cover
Well, this is a common incident with all the car owners/driver. Misplacing or losing car keys inside the can create a lot of trouble.
If you have key protect cover, Reliance car insurance will cover the expenses incurred in repairing and replacing the set of car keys. The benefit is applicable under the following circumstances-
- The benefit is valid for a maximum of two claims during the policy period
- It is only applicable to damaged or broken car keys
- Police FIR report is required in case of theft or burglary claim
- The loss or damage should be reported to Reliance Car Insurance within 7 days of incidence
- If the car keys are stolen or misplaced, the entire set of keys will be replaced by Reliance Car Insurance. It is subjected to policy terms and conditions.
Personal Accident Cover for Owner / Driver of the Vehicle
In case of injuries sustained by the driver or owner of the insured vehicle while driving it or mounting or dismounting from it, the coverage for any injuries or death resulting within initial 6 months from the incidence shall be compensated as mentioned in the table below –
|Type of Injury||Compensation Provided|
|Loss of either or both the eyes and limbs||100%|
|Loss of one eye or limb||50%|
|Permanent or total disabilities||100%|
On payment of an additional premium, you can get personal accident cover to the unnamed passengers (other than insured). The compensation for the same shall be compensated as mentioned in the table above.
You can significantly reduce the amount of car insurance premium if you opt for voluntary deductibles. It is a certain percentage of the claim amount that you can choose to pay on your own.
If you opt for higher voluntary deductibles, then the insurance premium will be low and vice versa.
Check out the discounts applicable on voluntary deductibles in the table below-
|Voluntary Deductibles (in Rs.)||Discount Applicable on the Own Damage Premium|
|2500||20% ( maximum of Rs 750)|
|5000||25% ( maximum of Rs 1500)|
|7,500||30% ( maximum of Rs 2000)|
|15,000||35% ( maximum of Rs 2500)|
Additional Discounts provided by Reliance Car Insurance
Apart from No-claim-bonus, there are certain additional discounts that you can avail with Reliance Car Insurance-
- If you have an anti-theft device installed in your car
- If you have membership from a recognized automobile association
- If you have coverage for specific location usage
Claim Procedure followed by Reliance Car Insurance
Car insurance claim with Reliance Car Insurance can be made in a hassle-free manner by following these simple steps-
- Immediately call their helpline number to register your claim. It should be done as soon as the incident occurs.
- Claim settlement process will be initiated as soon as you furnish the following details to Reliance Car Insurance. It includes –
- Name of the insured person
- Policy number
- Car make and model
- Vehicle number
- Date and time of the accident
- Contact Details
- A brief description of the incident
- Location of the incident
- Extent of loss
- Name of the Garage
- Take the damaged vehicle to the registered garage for damage repairs and submit all the required documents to the surveyor.
- The vehicle will be inspected, and the claim and liabilities will be approved by Reliance Car Insurance. Repair work will not be carried out without an inspection.
- If you opt for cashless settlement with Reliance Car Insurance, you can get your car repaired at a network garage. Reliance Car Insurance will settle the bill ( up to the payable amount)
- Submit the self-attested copy of the RC book, driver’s license, and duly filled claim form to the garage.
- If you have not opted for a cashless claim settlement, you need pay the damage repair charges at the garage. You can submit these bills to the surveyor for claim settlement or reimbursement.
One the claim is settled, you can take the repaired car from the network garage.
Reliance Car Insurance Procedure for Accidental Claims
- For personal accident claims, you need to report the incident at their toll-free helpline number
- To initiate the claim, insured needs to submit the following details with Reliance Car Insurance-
- Policy number
- Name of injured/insured
- contact details of the insured person
- Time and date of the accident
- Location of the accident
- Extent of loss
- Brief description of how the accident took place
- If it is a road accident, kindly inform the police authorities before notifying the claim to Reliance Car Insurance
- In cases of emergency, it is recommended to consult a doctor
Documents Required by Reliance Car Insurance
Following documents are required at the time of raising a claim request with Reliance Car Insurance –
For accidental claims-
- Insurance Proof- Policy / Cover Note copy
- Copy of Registration Book
- Original Copy of Tax Receipts for verification
- Police FIR is required to claim a third-party body injury, death or property damage
- Original Copy of Motor Driving License of the person driving the car at the time of incidence
- Repair estimate for the workshop, where the vehicle is to be repaired
- Bills estimate and payment receipts after repair work is done
- If the claim is cashless, Claims Discharge and Satisfaction Voucher on a Revenue stamp has to be submitted
For theft claims –
- Policy Document ( original)
- Service Booklet, Vehicle keys, and warranty card
- Registration Book ( original) along with Tax payment receipt and theft endorsement from the Regional Transport Office( RTO)
- Insurance Details of your Previous Policy – Insurance Company/ Policy number/ Insurance period
- Police FIR or JMFC Report of Final investigation report
- Acknowledgment letter addressing to RTO and intimating the theft and declaring the vehicle a total loss.
On Admission of Liability –
- Policyholder needs to sign Form 28, 29 and 30
- The Financer needs to sign Form 35
- Letter of subrogation ( it is legally required to recover money from a third-party)
- Letter of Consent from the insured and Financer with agreed claim settlement amount
- If the claim needs to be settled in the favor of the insured, NOC from Financer is required
- Claim Discharge Voucher (to be signed across a Revenue Stamp
The above list is just an overview; kindly refer to Reliance Car Insurance policy documents for additional information.