Overview of Reliance Car Insurance plans
Reliance general insurance is one of the best insurance companies with over 139 offices established across the country. A part of Reliance Group, Reliance general insurance offers a wide range of products in the insurance sector like motor, travel, health, and others. Reliance group has been one of the finest companies renowned for maintaining high quality and standards because of which it also received accolades for its quality management system and fine products. Offering one such fine product, Reliance General Insurance company’s car insurance brings joy for its customers in multiple ways.
Buying a car has become a status symbol and the process has got easier with varied channels of finances and loans but maintaining it is a little more demanding in terms of efforts. This is where an insurance policy helps. Car insurance comes to rescue when an uncertain event comes up and damages our dream car. Saving our hard-earned money, an insurance policy also saves us from the mental stress that one has to go through when such incidents take place. Not just the damage caused to the car, the Reliance Car Insurance, covers other costs like repair, personal accident cover to deal with hospital expenses, covers you for any third party liability, sudden breakdown, etc. All you have to do is choose the right product according to your requirement so that you don’t have to worry about unexpected and unplanned expenses and since it is mandatory to have insurance for your vehicle as mandated by the Motor Vehicle Act, Reliance car insurance policy is one good option to opt for.
Benefits of Reliance Car Insurance Plans
Since an insurance policy is all about protecting the interest of the policyholder, Reliance car insurance provides several benefits to its customers, like
- Assisting the policyholders in times of emergency and provide them roadside assistance round the clock
- Quick settlement of claims to ease out the insurance experience of the policyholders
- It also offers instant renewals of the insurance policy without much hectic paperwork
- It also offers a wide variety of add-on covers to enhance the insurance coverage
- Reliance car insurance provides huge discounts upon usage at a specific location, installation of anti-theft device and others
- It provides comprehensive coverage and third party cover to safeguard the interest of the policyholder
- Instant policy issuance through online purchase
- Towing facility in case of breakdown and in case the vehicle cannot be repaired on-site.
- Reliance car insurance offers insurance cover for both private and commercial vehicles.
Features of Reliance Car Insurance plans
The features of Reliance car insurance is given below for a better understanding of the policies offered by Reliance General Insurance
- Third-party coverage
Reliance car insurance provides third-party coverage which covers any damage or injury or death caused to the third party or any damage caused to the property of the third party.
- No Claim Bonus
No claim bonus is the reward of making zero claims during a policy year. A No Claim Bonus helps in reducing the amount of premium upon renewal of the policy after a claim-free year. This discount increases with the number of years increasing without making any claim. The initial discount offered by Reliance car insurance for having a claim-free year is 20% and 25% for the two consecutive years of zero claims. This rate increases simultaneously.
- Incurred Claim Ratio
Reliance car insurance has been one of the pioneers of car insurance and has one of the best-incurred claim ratios. The incurred claim ratio is explained as the ratio of claims settles to premiums earned in a year and Reliance has the current rate of 81.47% incurred claim ratio.
- Personal accident cover
Reliance car insurance provides personal accident cover to the policyholder in case of permanent disability or death of the policyholder. It also offers personal accident cover for the driver and co-passenger as well.
- Network Garages
Reliance car insurance has a network of more than 3700 certified garages which provide cashless service facility to the policyholder anywhere in the country. Designed to provide the policyholders best on-time services, Reliance cashless garage services ensure that you get the required services just when needed like on-sight vehicle service, towing facility to the nearest garage in case of breakdown, etc.
Insurance policy plans and coverages offered by Reliance Car Insurance plans
Reliance Car Insurance provides the following insurance plans and coverage
- Reliance Comprehensive car damage cover
Since it is mandatory to have a third party liability cover, Reliance ensures that apart from third-party liability, the policyholder gets coverage for own damage as well. It protects the vehicle against the risk of theft, fire, collision, etc. This policy provides all that an insurance policy should cover.The following coverage is provided under the Reliance car insurance plan
- Reliance Own liability cover
This cover protects the policyholder from the loss incurred due to the following
- Man-made activities like fire, explosion, riots, strikes, theft, etc
- Natural calamities like floods, earthquake, storms, typhoon, etc
- Damage in transit on road, rail, airways, waterways, elevator or lift
- Reliance Third-Party Liability
This cover protects the policyholder from any liability or costs arising out of damage to the third party. This covers any bodily injury, permanent disability or death and damage to the property of the third party.
Reliance Car Insurance Add-ons
Apart from the usual cover, this policy also provides add-on covers to enhance the policy experience like
- Personal accident covers for the driver, unnamed passengers, etc
- Electrical and non-electrical parts cover
- Zero depreciation
- No Claim Bonus, etc
Add-on covers offered by Reliance Car Insurance Plans
The add-on covers offered are
- Personal accident cover bundle:
This bundle provides coverage to the policyholder against a personal loss like damage to the car, permanent disability or death, irrespective of the driver.It provides the following benefits:
- 100% of the capital sum insured under the policy fixed at Rs 10 lakhs will be given as compensation in case of death of the policyholder
- 100% of the capital sum insured under the policy fixed at Rs 10 lakhs will be given as compensation in case of permanent disability of the policyholder
- 100% of the capital sum insured under the policy fixed at Rs 10 lakhs will be given as compensation in case of loss of two limbs or both eyesight or loss of one limb and one eyesight.
- 50% of the capital sum insured under the policy fixed at Rs 10 lakhs will be given as compensation in case of loss of one limb or one eyesight
- Zero Depreciation
Depreciation is the reduction in the value of the vehicle due to wear and tear. This add-on cover protects you against loss of depreciation and compensates the policyholder for depreciation except for tyre and tubes.This add-on includes:
- Covers private vehicles and allows a maximum of two claims during a policy year
- It provides coverage for the insured vehicle if the vehicle is repaired at authorized network garages in case of partial loss incurred
- It also provides a voluntary deductible option and compulsory excess
- Consumable cover
This add-on cover covers the expenses of the consumable items like nuts-bolts, grease, lubricants, screws, clips, bearings, AC gas, distilled water, engine oil, brake oil, fuel filter, oil filter, etc. with conditions:
- This add-on cover is allowed for private vehicles twice during the policy tenure
- If repair is made in the network garage, then settlement will be made in case of partial loss
- No Claim Bonus Retention
No Claim Bonus retention add-on cover helps in retaining the no claim bonus even if you make a claim. This add-on cover comes to rescue when the policyholder has a higher percentage of no claim bonus and the policyholder needs to claim for own damage. Things that one should keep in mind while opting for this add-on cover
- The minimum No Claim Bonus retention should be 25% of the vehicle’s value
- The policy should be renewed within 90 days of expiry
- One approved claim during a policy year
- Claim payment should be a minimum of 25% if the vehicle’s value
- Engine Cover
This add-on cover protects the vehicle from any damage suffered to the engine of the vehicle. It compensates for loss due to water ingression, leakage of oil, etc in
- Vehicle engine
- Differential parts
- Car key cover
This cover simply protects you if you lose your vehicle keys and compensates you for the expenses that you incur for replacement or repairing your lost key or lock.Few things that should be kept in mind about this add-on cover are:
- This add-on cover is allowed only twice during the policy tenure
- A claim for theft or burglary will be accepted on producing the FIR report
- The lock, the key should be the same as the one lost or needs to be replaced or repaired
- The loss should be reported within 7 days
- Only broken or damaged keys will be replaced
- The entire lock will be changed in case of theft, lost or misplaced keys
- Daily Allowance
This add-on cover helps the policyholder when the vehicle is in repair and takes more than 3 days. This add-on cover compensates the policyholder and provides a daily allowance, during the time when the vehicle is under repair with authorized network garage with the following conditions
- Only two claims are applicable for this add-on cover
- If the vehicle is under repair for more than 3 days due to own damage or any other peril
- Per day allowance limit is Rs 5000
- Lumpsum theft benefit amount to be paid if the vehicle is not recovered within 90 days
- EMI protection
Reliance car insurance covers up to 3 EMI’s of the vehicle if the vehicle is in the authorized garage for repairs for more than 30 days with conditions
- EMIs will be paid if the vehicle is in repair
- Payment will be made directly to the financial institution
- Maximum of 3 EMIs will be covered
- If the repair time is more than 30 days
- Only applicable for partial claims
Discounts offered by Reliance Car Insurance Plans
Reliance car insurance offers 3 types of discounts
- No Claim Bonus:
If the policyholder has not claimed the insurance in a year, a no claim bonus is offered up o the maximum of 50% depending upon the years of no claims.
- Voluntary excess:
Reliance car insurance offers a good discount if the policyholder agrees for a higher proportion of voluntary excess.
- Member of Automobile Association:
If the policyholder is a member of the Automobile Association, the Reliance car insurance offers a good discount.
- Reimbursements by Reliance car insurance plans:
Reliance car insurance offers the following reimbursements
- Claim for the death of the third party
- Bodily injury of the third party
- Damage to property of the third party
- Bodily injury or death of co-passengers, who should not employees of the company
Applying for Reliance Car Insurance Plans
You can buy Reliance car insurance easily through various ways
- Call on the toll-free number 1800 3009 and inquire about the various plans and talk to customer care
- Request call back by filling details about what Product and product type you want to buy. A representative from Reliance Insurance will call you
- You can buy car insurance online as well by:
- Logging in at www.reliancegeneral.co.in
- Select car insurance and car registration number, email address and mobile number to check the premium amount and other prices
- You can also buy car insurance by entering your car make and model, age of the car, city of car registration.
- You will get the insurance quote. If you are satisfied with the quote, fill in the details asked for like vehicle registration, identity proof, vehicle model, personal details, etc and make the payment through the debit-credit card, net banking, etc.
Buying Reliance Car Insurance Plans from Turtlemint
Turtlemint is a platform which offers services that enhances your experience
- Log in to https://www.turtlemint.com/car-insurance/Reliance-Car-InsuranceYou will have to enter your vehicle registration number or the location of the registration
- You will then have to enter details like vehicle model, vehicle variant, car variant, fuel type, mobile number, email address, etc.
- You will have to specify if you have any previous motor insurance and after accessing the information provided by you, Turtlemint will display the various policies suitable to your need.
- Once satisfied with the insurance policy you want to buy, you can make the payment directly from Turtlemint.
Renewing Reliance Car Insurance Plans
Renewing Reliance car insurance is as easy as buying it
- You can renew it online by visiting the official website and entering the existing policy details after clicking on the renew car insurance tab
- Enter the details asked for the like vehicle registration number, name, contact number, etc. The calculated premium will be displayed.
- You will be redirected towards the payment page once satisfied, where you can make the payment online.
Renew the Reliance car insurance through Turtlemint
If you have bought the insurance policy from Turtlemint, then you can renew your policy as well
- Enter your vehicle registration number
- Enter details asked like vehicle type, claims made in the previous policy
- You have to enter the existing policy details after clicking on the ‘instant renewal’
- Check the details of the premium
- Make a payment online through your debit/credit card or net banking
Claiming Reliance Insurance policy
Reliance car insurance offers an easy claiming process to ease out the experience of the policyholders.
In a few easy steps, one can apply for their insurance claim
- Call at Reliance toll-free number and intimate about the incident
- You will have to provide the following details in order to make the claim
- Contact details
- Car policy number
- Name of the insured
- Vehicle number
- Make and model of the vehicle
- Location and garage name
- The vehicle should be taken for repair only at the authorized network garage of Reliance
- An inspection will be done to ascertain the amount of loss and approve the claim. The repair should only take place after the inspection
- Customers should opt for cashless services for repairs as the bill will be settled by Reliance car insurance plans
- You will also have to submit a duly signed claim form, copy of the driving license, RC of the vehicle, copy of the FIR in case of accident and third party loss
- Produce original bill of receipt from the garage in case of not opting for cashless services, for reimbursement
Documents required for claiming insurance plans
- In case of an accident
- Document of the insurance policy
- Vehicle Registration and tax receipts
- Copy of the driving license
- Copy of the FIR
- Estimated repair
- Bills of repairs and other payments
- In case of theft
- Document of the insurance policy
- Vehicle Registration and tax receipts
- Copy of the driving license
- Copy of the FIR
- Vehicle keys, service book and warranty card, if any
- Letter of acknowledgement to RTO
- Exclusions in Reliance car insurance plans: Reliance car insurance does not include the following
- Normal wear and tear of the vehicle
- Consequential loss
- Mechanical and electrical damage
- Damage caused due to war, nuclear attack
- Damage caused due to the influence of drugs, alcohol
Review of Reliance car insurance plans
Reliance car insurance provides services that are highly focused upon providing the customers with an easy and quick insurance experience. Ensuring 24*7 customer care services for any issue and claim settlement, Reliance makes sure that the customers don’t have to worry at all and can enjoy the car ride.
This policy provides 24*7 roadside assistance, towing facility up to Rs 1500, assistance in case of breakdown, and personal accident cover of up to Rs 10 lakh
The premium is decided based on the Insured’s declared value and cubic capacity. This also depends on the registration location, age, and type of vehicle.
Yes, No Claim Bonus can be transferred during renewal within 90 days. No Claim Bonus from the previous insurer can also be transferred at the same rate during renewal.
The policyholder will have to submit the surrender form and policy document. The refund will be directly deposited in the bank account after the successful proceeding.