- About Coverfox
"Reliance car insurance plan is an excellent motor insurance plan that keeps your car protected financially at all times. It is one of the best motor insurance products offered by Reliance General Insurance Company Limited. With more than 139 offices and 28,900+ intermediaries across India, the insurer is one of the leading neo-insurance companies across the country. The different types of Reliance car insurance plans are car own damage policy, motor floater insurance, third party liability insurance, commercial car insurance and taxi insurance and long term car insurance. The company has a successful claim settlement ratio of 94% for FY 2018-19. "
Reliance Private Car Insurance Policy can be tailor-made to insure any private vehicle. Reliance Motor Insurance policy covers Own Damage car insurance and also, Third-party liability insurance, which helps car owners at the time when needed – in case of any accident or mishaps.
Types of coverage
Own Damage: This policy cover any damage or loss to the owner’s car due to any of the following things:
Third Party or Liability: This policy is mandatory by the Motor Vehicle Act 1988, it is provided by Reliance Private Car Insurance Policy which covers any injuries or property damages to the third party.
Personal Accident Cover: The Owner-Driver personal accident cover of Sum Insured Rs. 2 lakhs in case of permanent total disability or an accidental death is covered with a premium of Rs.100
Add-on cover includes NCB Retention, Personal Accident Bundle, Nil Depreciation, Consumables, Engine Cover and Key Protect Cover.
No Claim Bonus is a discount on the premium rewarded to the owner of the insured vehicle if the owner does not claim during a policy period. For instance, if you do not claim in the first year, you get 20% off on the premium of the second year. This discounts is cumulative and keeps on increasing with claim free years.
But if you lodge a claim, this discount drops to zero and you do not get No Claim Bonus (NCB) discount on the premium for the next year, until you complete a claim free year. To retain this drop of NCB to zero, you can buy this add-on cover which ensures your NCB is retained and does not drop to zero, even after a claim. You can add this as an add-on cover offered by Reliance General Insurance if you insured your private vehicle with Private Car Insurance policy.
Personal Accident Bundle Cover
This is an additional add-on cover by Reliance General Insurance that provides you an automobile insurance cover against accidents anywhere in the world regardless of who is driving the car. Under this cover, you are insured against Accidental Death and Permanent Total Disablement. Further details are shown in table below:
|Coverage||Compensation Amount||Capital Sum Insured (Rs.)|
|In case of Death||100% of Capital Sum Insured (CSI)||10,00,000|
|Permanent Total Disability or Death||100% of Capital Sum Insured (CSI)||10,00,000|
|Loss or physical separation of two limbs and loss of sight for both eyes or loss of one limb and sight of one eye||100% of Capital Sum Insured (CSI)||10,00,000|
|Loss or physical separation of one limb or loss of sight of one eye||50% of Capital Sum Insured (CSI)||10,00,000|
There are two Different Plans
Nil Depreciation Cover
To combat the depreciating value this add-on cover comes handy at the time of claim. With Nil Depreciation Cover on your side, the cost of depreciable car parts such as metal and plastic parts, rubber, nylon, wooden, fiber, etc. are at bay.
Consumables such as nuts and bolts, screws, grease, lubricants, AC gas, engine oil, oil filter, fuel filter, brake oil, etc. cost ample of money at the time of claim. With this cover the expenses on such consumables in case of any damage or loss due to any perils as covered under policy wordings are covered for the insured vehicles.
Engine is a very crucial and costly part of any car. Any damage to the part of Engine or Gear Box can dig a hole in your pocket. But with Reliance Engine add-on cover the expenses incurred in repairing and fixing any damage done to the engine by water ingression, leakage of lubricating oil is covered.
Note: The coverage is available only for the claims intimated within 7 days of the loss or damage.
Key Protect Cover – Private Cars
This add-on cover comes with huge benefits, especially, when it comes to repairing or replacing the car keys, locks, lockset, and additionally, the locksmith's charges. The claim can be made in case of theft, burglary, or loss and/or damage to the keys, lock, and lockset due to the natural or man-made perils as mentioned in policy wordings with a maximum of two claims in a policy period.
Reliance General Insurance offers many attractive discounts that the policyholder can avail.
No-Claim Bonus: The no-claim bonus is a discount offered on the next year’s premium. If you make no claims throughout the year, you are benefitted with the huge discount on the next year’s premium. If for the first year you made no claims you are offered with 20% discount on the second year premium and so on. It keeps on increasing.
Voluntary discounts: This discount is offered if you decide to pay the minimum amount of money at the time of claim. If you decide to pay Rs. 500 at the time of claim, you get 5% off on the Own Damage (OD) premium or maximum Rs. 50. If you don’t make any claims you still get discount and neither the minimum amount you agreed to pay at time of claim.
Voluntary Deductible Discounts in RS
Other Discounts: Reliance General Insurance offers other discounts provided you
Required steps and supporting documents:
a. In case of Car Accident Claims
b. In case of >Car Theft Claims
c. In case of Third Party Claims
Step-wise guide to claim:
With exceptional customer service paired with 3800+ network cashless garage and innovative products, Reliance General Insurance is definitely one of the top players' in general insurance category. The Anywhere Assist app is a significant feature launched to tackle any emergency situations where finding help at hand can be quite awful. In all, if you are looking to buy car insurance coverage that provides comprehensive coverage, Reliance General Insurance should be in your top 3 list.