Reliance Car Insurance
An insurance policy that protects you from financial loss if your car is damaged by incidents like accident, theft, natural and man-made disasters is known as car insurance. It is also known as auto or motor insurance.
Reliance General Insurance is a well-known insurance company in India. Many types of insurance policies are provided by it. It offers a wide range of car insurance policies to its customers. Through Reliance Car Insurance policy, you can protect your car from any damages. Whether it is natural or man made or any financial liability by any third party. Reliance Car Insurance policy keeps you free from all kinds of liability.
Reliance Car Insurance also gives you the option of adding additional add-on covers. Through this, you can choose additional coverage for your car. However, you have to pay an additional premium to add these add-on covers. Also, Reliance General Insurance caters to all the needs of its customers quickly and effectively. Its customer service facility is also very fast and of high quality.
Types Of Reliance Car Insurance Policy
There are three types of car insurance policies offered by Reliance General Insurance. These three types of Reliance car insurance policies are as follows-
Reliance Third Party Car Insurance
In India, you are required to have at least a third party car insurance to drive your car on the road. This has been made a legal obligation as per the Motor Vehicles Act 1988. Therefore any person who owns a vehicle is legally required to have at least one third party car insurance.
The first party means the policyholder while the second party is the insurance company and the third party is the one who makes a claim for the damage. In other words, if there is an accident with your car, then you will be considered as the first party, while the other party will be considered as the third party and the insurance company which pays the insurance amount will be considered as the second party.
Reliance Third Party Car Insurance keeps you free from financial liability for damages caused to third parties. In this, if the situation of injury or death or disability arises to the third party, then all its compensation is done by the insurance company to the third party. This compensation amount is decided by the court which the insurance company has to pay to the third party. If the third party dies or becomes totally disabled due to the accident, the medical amount can go up to 100%.
Reliance Standalone Own-Damage Car Insurance Policy
Reliance Standalone Own Damage Car Insurance Policy cover is also provided by Reliance General Insurance. This type of insurance is not legally mandatory. This insurance policy can be a good option for people who want to protect their car from damages caused by other means. Through this policy, the policyholder provides complete financial protection to you in case of road accidents, theft, riots, damages caused due to natural and man-made calamities etc.
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Reliance Comprehensive Car Insurance
Most people opt for a third party car insurance policy simply because it is affordable and legally mandatory. But you should go with a comprehensive car insurance policy to get a comprehensive coverage. Reliance Comprehensive Car Insurance policy offered by Reliance General Insurance provides complete protection to your car from own as well as third party liabilities.
In a way, one can say that a Reliance Comprehensive Car Insurance policy serves to provide you the benefits of all types of car insurance coverage. Be it third party insurance or own damage insurance or any other type. You can also add add-on covers through Reliance car insurance policy which provides you with additional coverage benefits for your car like roadside assistant etc.
Benefits Of Reliance Car Insurance
- No Claim Bonus-
No Claim Bonus is provided to you if you take a Reliance Car Insurance policy and do not submit any claim during the policy period. In this you are offered a discount of up to 5% on the premium.
- Claim Process-
The medicine process of Reliance Car Insurance is quite easy. You can also complete your medication process through online medium or through video call.
- Claim Settlement-
The claim settlement of Reliance Car Insurance is also quite high. It settles the claims made by its customers in less time.
Reliance Car Insurance gives you the option of adding a variety of add-ons. Through these add-ons, you can avail additional coverage for your car. However, you have to pay an additional premium for adding add-on covers.
- Third Party Damage Cover-
Third party Reliance car insurance covers damages caused to a third party. In this, all kinds of financial responsibility given to the third party is of the insurance company. Taking a third party insurance policy has been made mandatory in India through the Motor Vehicles Act 1988. If you are caught driving without a third party insurance policy then you will have to pay a fine.
- Comprehensive Car Insurance Policy-
A comprehensive car insurance policy provides a comprehensive protection to your car. Also you can add many types of add-on covers to it. Any kind of damage to your car or third party liabilities, all types of facilities are provided in this policy.
- Cashless Network Garage-
You can avail the benefit of cashless repairs by getting your car repaired at a network garage of Reliance Car Insurance. You don’t have to pay anything for this. In this, online payment is made directly to the garage by the insurance company.
What Is Included In Reliance Car Insurance Policy ?
- Any expenses incurred for repairing or replacing any damage caused to your car due to an accident,
- Loss due to natural calamities (flood, typhoon, storm, tsunami, lightning, earthquake, landslide etc.),
- Losses due to man-made disasters (riots, sabotage etc.),
- car theft,
- personal accident cover,
- Third-Party Legal Liabilities.
Reliance Car Insurance Add-On Cover
Reliance Car Insurance also offers you the facility to add add-on covers to your car insurance policy. We will discuss here some of the add-on covers offered by Reliance Car Insurance.
- Zero Depreciation Cover (Reliance Zero Depreciation Car Insurance): The Zero Depreciation add-on provides you with the benefit of a complete cover without incurring the depreciation cost of any part of your car except tyres, tubes and battery.
- No Claim Bonus Retention: No Claim Bonus Retention : A rebate given to policyholders for not making any claims during the policy term.
- Consumables Cover : It offers compensation for any damages created by the consumable parts and accessories of the car like engine oil, nuts and bolts, washers, grease, etc.
- Engine Cover: Engine cover add-on can get compensation by the insurance company for the expenses incurred due to repair of damaged engine parts and gearbox parts.
- Key Protect Cover: This add-on cover compensates you for the amount of getting a duplicate key in case your key goes missing.
- Daily Allowance Benefit: If your car is being repaired in the insurance company’s network garage and the repair time takes more than 3 days and you are required to travel by car, then this add-on cover will be added to your daily allowance. Will give compensation for ,
- Car EMI Protection: This covers the EMI of your car.
- Electrical/Electronic Accessories: Compensation can be availed for the cost of repair of electrical/electronic fittings in the car.
Reliance Car Insurance Exclusions
There are certain circumstances in which a Reliance Car Insurance policy may lead to rejection of your insurance claim. Now let us look at the circumstances under which your insurance claim can be rejected by a car insurance policy.
- drink driving,
- driving a car without a license,
- Damage due to negligence (such as driving a vehicle through a waterlogged road),
- Breach of any terms or conditions,
- Normal wear and tear of car parts,
- mechanical or electrical breakdown,
- Loss caused by war or nuclear risk.
Reliance Car Insurance Premium Calculation
- Age of the vehicle owner :
The age of the vehicle owner is taken into consideration while calculating the Reliance Car Insurance Premium. If the age of the vehicle owner is between 18 to 25 years then they have to pay a higher premium amount as compared to other individuals.
- Fuel Type :
The Reliance car insurance premium also depends on the fuel type of the car. The premium to be paid is the least for a CNG variant of the car. The premium to be paid is higher for diesel type vehicles as compared to petrol vehicles.
- Geographical location :
Reliance car insurance premium also depends on the geographical location. Like how do you drive the car in the field? What are the geographical conditions there? If it is less risky then you have to pay the premium, but if the probability of risk is high then you have to pay higher premium.
- IDV :
Insured Declared Value (IDV) is the maximum amount the insurance will pay in case of any damage caused to your car. Your premium is decided on the basis of this amount.
- Cubic Capacity :
The engine capacity of your car is also considered for Reliance car insurance premium. The more powerful the engine, the more premium you will have to pay for it.
- Other factors :
Apart from this, other factors like add-on covers, purpose of the vehicle, features like safety equipment in the vehicle are also taken into consideration while calculating the Reliance car insurance premium. You may be offered a discount on your premium if you use safety equipment in your vehicle.