Motor vehicle insurance companies

Your car needs more than just fuel and maintenance. A car insurance policy is a crucial factor which ensures the flawless upkeep of your precious vehicle. Reliance General car insurance plans are carefully designed to offer enhanced protection at affordable rates. Our key benefits include: —

Vast Cashless Network of more than 3800 garages
Instant Renewal without paperwork
24×7 Roadside Assistance*
Comprehensive Vehicle Insurance Cover
A Range of Add-on covers for enhanced protection

Our Offerings

Comprehensive Damage Cover

You may already be aware that Third Party Liability Car Insurance is mandatory by law. Therefore, if you own a car, you are mandated by law to take up a Third Party Liability Cover. However, taking up a car insurance policy that doesn’t compensate your own damages seems pointless, doesn’t it? A comprehensive damage cover was developed to offer a broad coverage against all possible damages arising from a variety of risks.

Our comprehensive car insurance policy offers protection against damages caused to your car by way of risks such as collisions, theft, fire and so on. Additionally, a comprehensive car insurance policy also covers third-party liabilities and offers extensive protection for your car.

Add-On covers

When it comes to car insurance, additional coverage is always better. You can enhance your vehicle insurance coverage protection further with our wide-range of add-on covers such as Nil Depreciation, Consumables, Engine Cover & Key Protect Cover.

How to choose the one that’s best for you?

Now that you understand the nuances of both types of Car Insurance Policies you must be contemplating about which one to choose. Here are some valuable recommendations to help you with your decision: —

The Third Party Liability Car Insurance policy is generally chosen by individuals who want to buy car insurance as it is mandatory by law.
If you seek overall protection from the damages caused due to unforeseen accidents, opting for a comprehensive car insurance policy is the best option.
Additionally, you can pick add-on covers as per the risks which are more relevant to you.
Interested in Third-party liability insurance? Click here to know more!

Car Insurance Things to Know

Information is the key to make the right decisions. To ensure that you make an informed purchase, we have explained the essential car insurance concepts right here: —

What is IDV?

The IDV (Insured Declared Value) is the current market value of the car which is calculated after deducting the depreciation amount. It is a crucial component of the car insurance policy as it determines the amount of compensation. In case of theft or total destruction of the car, the IDV is offered as «Sum Insured».

What is No Claim Bonus?

When you don’t file a claim during your policy period, you will be eligible for a discount on your next premiums which is referred to as a No-Claim Bonus. This discount will keep increasing progressively for each claim-free year until the car insurance premium is reduced up to 50%.

What are the different kinds of add-on covers available?

We offer a wide range of add-on covers to ensure superior protection from a variety of risks. You can opt for add-on covers such as Nil-dep cover (Zero Depreciation), NCB retention cover (avail the NCB despite registering a claim), 24×7 Roadside Assistance, Personal Accident cover (covers personal damages), electrical/electronic accessories cover and many more. Refer to our add-on cover section, for more details.

How will a Zero Depreciation Cover Help you?

You may already know that the monetary value of your car reduces overtime. This eventuality is a result of asset depreciation. Nevertheless, with Reliance General Car Insurance policy, you can combat the losses of depreciation by taking up a zero depreciation add-on cover along with your car insurance. With a zero depreciation cover, you can be assured that the entire claim amount will be paid to you without deducting the depreciation sum.

How is a car insurance premium calculated?

Your car insurance premium is calculated based on several factors such as: —

1. Car Manufacturer and Model
E.g. Honda City

2. Cubic capacity (cc)
E.g. 1497 cc

3. Age of the Car
E.g. 3 Years

4. Insured Declared Value (IDV)
This is the current market value of your car which is calculated after deducting depreciation.

5. No Claim Bonus (NCB)
NCB is a discount that you get on your premium amount when you have made any claims during your previous policy period. This discount will keep increasing progressively for each claim-free year until the car insurance premium is reduced up to 50%.

6. Tax
The appropriate taxes that are eligible to be levied on your premium amount
(9% CGST and 9% SGST in India)

The premium amount to be paid is calculated as: Premium Estimate = IDV*Age of Car – NCB + Tax. Other factors like add-on covers, discounts, purpose of the vehicle and safety features such as airbags and anti-theft devices will also be taken into consideration while calculating your car insurance premium.

Not sure if you need car insurance? Numbers Don’t Lie!

The poor road conditions and a blatant disregard for traffic regulations make Indian roads one of the most dangerous in the world.
car insurance — road accident statisticsThese fatalities are only expected to rise in the future.
We don’t mean to scare you by these grim statistics. The statistics reflect the kind of dangers that the roads entail. Hence, It’s better to be safe than sorry!

How to Save on Car Insurance Policy Premium

Know Your Car’s IDV
The value of your car depreciates overtime, hence it is important to know your IDV. A lower IDV attracts a lower premium.

Claim Your No Claim Bonus
The No Claim Bonus is your rightful reward for being a responsible driver. Earn discounts of up to 50% on your premium year-on-year.

Install Security Devices
The safer your car, the lower will be the premium. Installing anti-theft devices can fetch you up to 2.5% discount on your car insurance premium.

Become AAI Member
Become a member of the Automobile Association of India and you can secure a concession on personal-damage premium.

Increase the Voluntary Deductible
A Voluntary deductible is the amount you agree to pay out of your pocket. The higher your voluntary deductible, the lesser will be your premium.

What Does Your Policy Cover?

Even if you are an expert driver who maintains the car in top condition, safety is not guaranteed. At Reliance General Insurance, we endeavour to provide you with the best possible coverage.

When Can We Help You?

If you suffer damages caused due to any of following reasons, we’ve got you covered!

Accident
Fire
Lightening
Self-Ignition
Explosion
Theft
Riot & Strikes and / or Malicious Acts
Terrorism
Earthquake
Flood
Cyclone
Inundation
Transit by Rail, Road, Air & Elevator
Landslide
Rockslide
Hailstorm
Frost
Tempest
Hurricane
Typhoon

How We Can Help You?

Providing coverage, is just one aspect of our car insurance policy. What if you are stranded due to an accident or car-breakdown? Don’t worry, we offer roadside assistance within a large 25-km radius of your car breakdown location. To avail 24×7 instant roadside assistance download Anywhere Assist App on your Android Smartphone. We offer the following assistance services: —

car insurance — Anywhere Assist Service
Add-On Covers

Many car insurance holders are of the opinion that buying add-ons are unnecessary. This is because a car insurance policy offers basic protection against damage and losses to your vehicle, so one might think that add-on covers are avoidable.

When you are on the road, your safety is at risk from a number of factors. Therefore, add-on covers are not just additional costs, they are assets which earn you several advantages. At Reliance General Insurance, we want to make sure our car insurance holders can secure the best possible protection for themselves. So choose wisely and secure your car with our assortment of add-on covers.

NCB Retention Cover
Retain your No-Claim Bonus even after you’ve made claim and continue to enjoy discounted premiums up to 50% year-on-year. We offer this add-on for any private car which is 2 years old or above. You can avail this add-on while renewing your previous car insurance policy with us if the value of your car is less than or up to Rs. 10 lakhs. This retainable NCB is applicable to the following conditions: —

The NCB percentage of the vehicle should be 25% and above
One approved accidental claim is made during your policy period
The total value of the claim payment made during your car insurance policy period is up to 25% of the value of your car, as mentioned in your policy
Your policy is renewed with us, within 90 days of its expiry, which is the normal grace period for availing NCB

Motor Secure Plus Cover
For superior risk coverage, we have compiled a mix of add-on covers in a single package. The Motor Secure Plus Cover includes: —

Nil Depreciation Cover
Depreciation is the single most factor which reduces the value of your cover. This add-on cover compensates for the depreciating value of your car. Opt for this and you will not have to bear the losses occurred due to depreciation on all parts except the tyres and tubes. This add-on cover is applicable to the following conditions: —

This add-on covers private cars, with a maximum of two claims in one vehicle insurance policy period
In case of partial loss, we will settle a claim made for the insured car only if it is repaired by/ at one of our authorised dealers or workshops
Compulsory Excess will be applicable as per normal practice and Voluntary Deductible will be applicable if you have opted for it
UIN: RGI-MO-A00-00-03-V01-13-14

Consumables Cover
Sometimes, a bunch of seemingly insignificant expenses can create a big dent in your pocket. All expenses incurred on consumable items are covered in case they are damaged due to perils covered our policy. Consumable items such as nuts and bolts, screws, washers, grease, lubricants, clips, AC gas, bearings, distilled water, engine oil, oil filter, fuel filter and break oil are covered. This add-on cover is applicable to the following conditions: —

This add-on covers private cars, with a maximum of two claims in one motor policy period.
In case of partial loss, we will settle a claim made for the insured vehicle only if it is repaired at one of our authorised dealers or workshops.
UIN: RGI-MO-A00-00-04-V01-13-14

Engine Cover
An engine is the heart and soul of your car. The Engine add-on cover offers compensation for expenses incurred while fixing the indirect damage done by water ingression or leakage of lubricating oil leading to loss or damage to:

Engine Parts
Differential Parts
Gear Box Parts
UIN:RGI-MO-A00-00-06-V01-13-14

Note that automobile insurance coverage is available only for the claims intimated within 7 days of the loss or damage.

UIN (Motor Secure Plus)- RGI-MO-A00-00-03-V01-13-14, RGI-MO-A00-00-04-V01-13-14, RGI-MO-A00-00-06-V01-13-14

Motor Secure Premium Cover

The Motor Secure Premium Cover encapsulates all of the crucial risk factors to offer a comprehensive coverage in a single package. The Motor Secure Premium Cover includes: —

Nil Depreciation Cover
Depreciation is the single most factor which reduces the value of your cover. This add-on cover compensates for the depreciating value of your car. Opt for this and you will not have to bear the losses occurred due to depreciation on all parts except the tyres and tubes. This add-on cover is applicable to the following conditions: —

This add-on covers private cars, with a maximum of two claims in one vehicle insurance policy period.
In case of partial loss, we will settle a claim made for the insured car only if it is repaired by/ at one of our authorised dealers or workshops.
Compulsory Excess will be applicable as per normal practice and Voluntary Deductible will be applicable if you have opted for it.
UIN: RGI-MO-A00-00-03-V01-13-14

Engine Cover
An engine is the heart and soul of your car. The Engine add-on cover offers compensation for expenses incurred while fixing the indirect damage done by water ingression or leakage of lubricating oil leading to loss or damage to:

Engine Parts
Differential Parts
Gear Box Parts
Additional Discounts

Besides the attractive discounts offered by NCB, you can avail additional discounts in case…

You are a member of any recognized automobile association
You have installed an anti-theft device in your car
You have covered the vehicle for specific location usage

Car Insurance Policy Exclusions
As much as we would like to cover all possible risks, certain situations are just not feasible.

We like to maintain complete transparency with our customers. So here’s what we don’t cover: —

— General wear-and-tear of the car

— Mechanical and electrical breakdown

— Cars being used other than in accordance with the limitations as to use. For example, if you use a private car for remuneration purpose.
— Damage to/by person driving without a valid driving license
— Loss or damage caused while driving under the influence of alcohol or any other intoxicating substance
— Loss or damage due to depreciation of the car’s value
— Loss or damage due to war or nuclear risks
— Consequential loss — if the original damage causes subsequent damage/loss, only the original damage will be covered under our motor car insurance
— Compulsory deductibles — a fixed amount that gets deducted at the time of the claim
— Depreciation Cover shall not be applicable to theft & total loss claims
History
Widespread use of the automobile began after the First World War in urban areas. Cars were relatively fast and dangerous by that stage, yet there was still no compulsory form of car insurance anywhere in the world. This meant that injured victims would seldom get any compensation in an accident, and drivers often faced considerable costs for damage to their car and property.

A compulsory car insurance scheme was first introduced in the United Kingdom with the Road Traffic Act 1930. This ensured that all vehicle owners and drivers had to be insured for their liability for injury or death to third parties whilst their vehicle was being used on a public road.[1] Germany enacted similar legislation in 1939 called the «Act on the Implementation of Compulsory Insurance for Motor Vehicle Owners.»[2]

Public policies
In many jurisdictions, it is compulsory to have vehicle insurance before using or keeping a motor vehicle on public roads. Most jurisdictions relate insurance to both the car and the driver; however, the degree of each varies greatly.

Several jurisdictions have experimented with a «pay-as-you-drive» insurance plan which utilizes either a tracking device in the vehicle or vehicle diagnostics. This would address issues of uninsured motorists by providing additional options and also charge based on the miles (kilometers) driven, which could theoretically increase the efficiency of the insurance, through streamlined collection.[3]

Australia
In Australia, Compulsory Third Party (CTP) insurance is a state-based scheme that covers only personal injury liability. Comprehensive and Third Party Property Damage insurance are sold separately.

Comprehensive insurance covers damages to third-parties and the insured property and vehicle.
Third Party Property Damage insurance covers damage to third-party property and vehicles, but not the insured vehicle.
Third Party Property Damage with Fire and Theft insurance additionally covers the insured vehicle against fire and theft.
Compulsory Third Party Insurance
CTP insurance is linked to the registration of a vehicle. It is transferred when an already registered vehicle is sold. It covers the vehicle owner and any person who drives the vehicle against claims for liability in respect of the death or injury to people caused by the fault of the vehicle owner or driver, but not for damage. A Compulsory Third Party Insurance is the coverage which covers the third party with the repairing cost of the vehicle, any property damage or medication expenses which are encountered as a result of an accident by the insured. This may include any kind of physical damage, bodily injuries or damage to property and covers the cost of all reasonable medical treatment for injuries received in the accident, loss of wages, cost of care services, and in some cases compensation for pain and suffering. Notably, the motorist or the insured is responsible for his own loss as he is not covered for any loss in such type of insurance.

In New South Wales and the Northern Territory CTP insurance is compulsory; each vehicle must be insured when registered. A ‘Greenslip,'[4] another name by which CTP insurance is commonly known due to the colour of the form, must be obtained through one of the five licensed insurers in New South Wales. Suncorp and Allianz both hold two licences to issue CTP Greenslips – Suncorp under the GIO and AAMI licences and Allianz under the Allianz and CIC/Allianz licences. The remaining three licences to issue CTP Greenslips are held by QBE, Zurich and Insurance Australia Limited (NRMA). APIA and Shannons and InsureMyRide insurance also supply CTP insurance licensed by GIO. In addition to the Greenslip, additional car insurance can be purchased through insurers in Australia. This will cover claims that the standard CTP insurance cannot provide. This is known as a comprehensive car insurance.

A similar scheme applies in the Australian Capital Territory through AAMI, GIO and NRMA (IAL).

In Victoria, Third Party Personal insurance from the Transport Accident Commission is similarly included, through a levy, in the vehicle registration fee.[5] A similar scheme exists in Tasmania through the Motor Accidents Insurance Board.[6]

In Queensland, CTP is a mandatory part of registration for a vehicle. There is choice of insurer but price is government controlled in a tight band.[7]

In South Australia, Third Party Personal insurance from the Motor Accident Commission is included in the licence registration fee for people over 17.[8] A similar scheme applies in Western Australia, though there is only one CTP insurer, the Insurance Commission of Western Australia (ICWA).[9]

Canada
Several Canadian provinces (British Columbia, Saskatchewan, Manitoba and Quebec) provide a public auto insurance system while in the rest of the country insurance is provided privately [third party insurance is privatized in Quebec and is mandatory. The province covers everything but the vehicle(s)].[10] Basic auto insurance is mandatory throughout Canada with each province’s government determining which benefits are included as minimum required auto insurance coverage and which benefits are options available for those seeking additional coverage. Accident benefits coverage is mandatory everywhere except for Newfoundland and Labrador.[11] All provinces in Canada have some form of no-fault insurance available to accident victims. The difference from province to province is the extent to which tort or no-fault is emphasized. International drivers entering Canada are permitted to drive any vehicle their licence allows for the 3-month period for which they are allowed to use their international licence. International laws provide visitors to the country with an International Insurance Bond (IIB) until this 3-month period is over in which the international driver must provide themselves with Canadian Insurance. The IIB is reinstated every time the international driver enters the country. Damage to the driver’s own vehicle is optional – one notable exception to this is in Saskatchewan, where SGI provides collision coverage (less than a $1000 deductible, such as a collision damage waiver) as part of its basic insurance policy.[12] In Saskatchewan, residents have the option to have their auto insurance through a tort system but less than 0.5% of the population have taken this option.[13]

Germany

International Motor Insurance Card (IVK)
Since 1939, it has been compulsory to have third party personal insurance before keeping a motor vehicle in all federal states of Germany.[2] In addition, every vehicle owner is free to take out a comprehensive insurance policy. All types of car insurance are provided by several private insurers. The amount of insurance contribution is determined by several criteria, like the region, the type of car or the personal way of driving.[14]

The minimum coverage defined by German law for car liability insurance / third party personal insurance is: 7.5 million euro for bodily injury (damage to people), .5 million euro for property damage and 50,000 euro for financial/fortune loss which is in no direct or indirect coherence with bodily injury or property damage.[15] Insurance companies usually offer all-in/combined single limit insurances of 50 Million Euro or 100 Million Euro (about 141 Million Dollar) for bodily injury, property damage and other financial/fortune loss (usually with a bodily injury coverage limitation of 8 to 15 million euro for each bodily injured person).

Hong Kong
According to section 4(1) of the Motor Vehicles Insurance (Third Party Risks) Ordinance (Cap. 272 of the Laws of Hong Kong), all users of a car, include its permitted users, must have insurance or some other security with respect to third-party risks.[16]

Hungary
Third-party vehicle insurance is mandatory for all vehicles in Hungary. No exemption is possible by money deposit. The premium covers all damage up to HUF 500M (about €1.8M) per accident without deductible. The coverage is extended to HUF 1,250M (about €4.5M) in case of personal injuries. Vehicle insurance policies from all EU-countries and some non-EU countries are valid in Hungary based on bilateral or multilateral agreements. Visitors with vehicle insurance not covered by such agreements are required to buy a monthly, renewable policy at the border.[17]

Indonesia
Third-party vehicle insurance is a mandatory requirement in Indonesia and each individual car and motorcycle must be insured or the vehicle will not be considered legal. Therefore, a motorist cannot drive the vehicle until it is insured. Third Party vehicle insurance is included through a levy in the vehicle registration fee which is paid to the government agency Samsat (Sistem Administrasi Manunggal di bawah Satu Atap), which is responsible for cars and roads.[18] Third-Party Vehicle Insurance is regulated under Act No. 34 Year 1964 Re: Road Traffic Accident Fund and merely covers Bodily injury, and managed by a SOE named PT. Jasa Raharja (Persero).[19] The Indonesian government has a road insurance fund which includes life insurance for traffic accidents. The annual fee is called the Compulsory Contribution Fund for Traffic Accidents or Sumbangan Wajib Dana Kecelakaan Lalu Lintas Jalan.[18]

India

A Sample Vehicle Insurance Certificate in India
Auto insurance in India deals with the insurance covers for the loss or damage caused to the automobile or its parts due to natural and man-made calamities. It provides accident cover for individual owners of the vehicle while driving and also for passengers and third party legal liability. There are certain general insurance companies who also offer online insurance service for the vehicle.

Auto insurance in India is a compulsory requirement for all new vehicles used whether for commercial or personal use. The insurance companies have tie-ups with leading automobile manufacturers. They offer their customers instant auto quotes. Auto premium is determined by a number of factors and the amount of premium increases with the rise in the price of the vehicle. The claims of the auto insurance in India can be accidental, theft claims or third party claims. Certain documents are required for claiming auto insurance in India, like duly signed claim form, RC copy of the vehicle, driving license copy, FIR copy, original estimate and policy copy.

There are different types of auto insurance in India:

Private Car Insurance – Private Car Insurance is the fastest growing sector in India as it is compulsory for all the new cars. The amount of premium depends on the make and value of the car, state where the car is registered and the year of manufacture. This amount can be reduced by asking the insurer for No Claim Bonus (NCB) if no claim is made for insurance in previous year.[20]

Two Wheeler Insurance – The Two Wheeler Insurance in India covers accidental insurance for the drivers of the vehicle. The amount of premium depends on the current showroom price multiplied by the depreciation rate fixed by the Tariff Advisory Committee at the beginning of a policy period.

Commercial Vehicle Insurance – Commercial Vehicle Insurance in India provides cover for all the vehicles which are not used for personal purposes like trucks and HMVs. The amount of premium depends on the showroom price of the vehicle at the commencement of the insurance period, make of the vehicle and the place of registration of the vehicle. The auto insurance generally includes:

Loss or damage by accident, fire, lightning, self ignition, external explosion, burglary, housebreaking or theft, malicious act
Liability for third party injury/death, third party property and liability to paid driver
On payment of appropriate additional premium, loss/damage to electrical/electronic accessories
The auto insurance does not include:

Consequential loss, depreciation, mechanical and electrical breakdown, failure or breakage
When vehicle is used outside the geographical area
War or nuclear perils and drunken driving