Reliance car insurance
Reliance General Insurance Company Limited is a part of Reliance Group which is one of the leading conglomerates of India. Reliance General Insurance is a leading general insurer in its segment. The company offers a range of general insurance products whether it is car insurance, two-wheeler insurance, travel insurance, health insurance or other group and corporate insurance plans. The different plans of the company are developed with attractive coverage benefits and the premiums are kept low. In the context of car insurance plans, the company offers a comprehensive package policy which provides a wide scope of coverage, third party liability policy and commercial vehicles policy.
Why to choose Reliance car insurance?
Reliance car insurance policies provide various advantages which make them a favourable choice for policyholders. Here are some of the reasons why policyholders might choose Reliance car insurance plans –
- Different car insurance plans are offered for private cars and commercial cars
- Both the mandatory third party liability and the comprehensive package policy are offered by the company
- Discounts of up to 65% can be earned on the car insurance premium
- The company is tied up with more than 3800 garages across India for easy cashless claim settlement.
Reliance car insurance policy overview
Here is a brief look at the car insurance policies offered by Reliance –
- Third party liability policy
This policy provides only the legally mandated third party liability cover to the policyholder. If the policyholder faces a financial liability because the car was involved in an accident which caused injury or property damage, the policy pays the accrued financial liability. The policy covers damages caused to any other individual’s vehicle, property or the individual himself/herself. The premium of the policy is fixed by the Insurance Regulatory and Development Authority (IRDA) and is very low. The premium rate depends on the engine capacity of the car. Higher the engine capacity, higher is the rate of premium.
- Comprehensive car insurance policy
This policy provides a better and wider scope of coverage than third party policies. Besides covering the mandatory third party liability, the policy also covers the damages suffered by the car itself. Damages suffered by the car due to man-made and natural calamities are covered. Moreover, the policy also has an inbuilt roadside assistance cover which provides round-the-clock assistance in case the car breaks down on the way and there is no garage nearby. A list of add-on covers is also provided under the plan. The policyholder can choose the required add-ons by paying an additional premium for each. If no claim is made under the policy in any year, the policyholder can also earn a premium discount in the form of no claim bonus. Besides no claim bonus discounts, other discounts are also available under the plan. There is a discount for choosing a voluntary deductible, for becoming a member of a reputed club, installing safety devices in the car, etc. Thus, the comprehensive car insurance policy not only provides a wide range of coverage benefits, the premiums are also made low by the available discounts.
- Commercial vehicle insurance
This policy covers cars which are used for commercial purposes. Coverage is allowed for both the third party liability as well as for damages suffered by the car itself in an accident. Damages suffered by the car could be due to natural disasters or from man-made ones. The policy covers both these forms of disasters and provides a wide scope of coverage.
All these plans give a good coverage at lower premium rates. Moreover, at the time of a claim, the company also ensures speedy settlements.
Features and benefits of buying Reliance car insurance
Here are the features and benefits of Reliance car insurance plans which make them a good buy –
- There is an inbuilt benefit of 24*7 roadside assistance cover in the comprehensive car insurance policy offered by the company. This benefit provides towing facilities in case of breakdown of the car
- Quick settlement of claims is ensured through the tie-up with 3800+ garages all over the country
- Even an expired car insurance policy can be renewed easily
- A range of unique add-on covers are provided under comprehensive car insurance plans
- There is a commercial insurance policy too for commercial cars
Coverage of Reliance car insurance
Coverage under Reliance car insurance policies is offered for the following –
- Third party liability when another individual’s car or any other property is damaged
- Third party liability when another individual is hurt or killed due to the car
If it is a comprehensive policy, coverage is also allowed for the following –
- Natural calamities which damage the car like earthquakes, floods, hurricanes, storms, etc.
- Man-made calamities which damage the car like fire, self-explosion, theft, burglary, riots, strikes, terrorism, etc.
- If the car faces any damage when it is transit by road, rail or air
Add-on benefits in Reliance car insurance
Comprehensive car insurance policies offered by Reliance General Insurance Company have a range of add-on coverage benefits. These benefits are optional in nature. They seek to increase the scope of coverage of the plan. Each add-on requires an additional premium and the policyholder can choose as many add-ons as required for making the car insurance coverage all-inclusive. The add-ons available in the plan include the following –
- NCB retention cover which retains the no claim bonus even after a claim
- Motor secure plus cover which bundles three add-ons in one
- Motor secure premium cover which bundles four add-ons in one
Personal accident bundle cover
Under this add-on cover, personal accident cover is allowed for anyone driving the car. The cover is a worldwide cover which covers accidental deaths and disablements and is offered for a sum insured of Rs.10 lakhs. The benefit paid depends on the extent of injury suffered by the driver of the car in an accident. Here are the benefits which are paid under this add-on -
- In case of accidental death, 100% of the sum insured is paid.
- In case of permanent disablements, 100% of the sum insured is paid
- In case of loss of both limbs, loss of sight in both eyes or loss or one limb and sight in one eye, 100% of the sum insured is paid
- In case of partial disablements like loss of one limb or loss or sight in one eye. 50% of the sum insured is paid.
Motor secure plus cover
Motor secure plus cover is a combination of three add-ons which include the following –
- Nil depreciation cover – under this add-on, depreciation on the parts of the car are not taken into consideration. Full claim is paid irrespective of the applicable depreciation
- Consumables cover – expenses incurred on consumables like nuts and bolts, grease, screws, lubricants, etc. are covered under this add-on in case of repairs of the car
- Engine cover –If the car is started at a water-logged area and the water damages the engine, such damages are not covered under basic car insurance policies. However, this add-on covers engine damage due to water logging.
Thus, the motor secure plus cover provides these three add-ons in a single package
Motor secure premium cover
Motor secure premium cover adds four add-on covers in a single package. The add-ons covered include the following –
- Nil depreciation cover – this cover eliminates the effect of depreciation of the car’s parts when a claim is paid. this ensures a higher claim settlement
- Engine cover – engine damages due to water logging is not covered under normal circumstances. However, this add-on allows such coverage
- Consumables cover – consumables used in car repairs are not paid for. However, through this add-on claim can be made for the consumables used like lubricants, AC Gas, engine oil, etc.
- Key protect cover – this add-on covers lost or misplaced car keys and replaces them.
Applying for Reliance car insurance policy
Policyholders can apply for any Reliance car insurance policy online. The website of the company allows policyholders to buy the policy easily. Here are the steps –
- Visit the website of the company which is https://www.reliancegeneral.co.in/Insurance/Home.aspx
- On the website choose ‘Car’.
- Enter the details of the car and hit ‘Get my quote’
- After the premium is calculated and displayed, the policyholder can buy the policy online
- The personal details of the policyholder would be required in the application form
- Then the premium of the policy needs to be paid
- Once the premium is paid, the policy would be issued instantly and the policy bond would be sent to the policyholder’s email id