Reliance General Insurance offers a single comprehensive car insurance policy that covers damages to the insured vehicle from natural and man-made calamities, third party damages and injuries, and comes standard with personal accident coverage for the owner or driver.
Their plans are the cheapest for new sedans, SUVs, and luxury vehicles, and even though their used car plans are a bit more expensive than some of their competitors, they're still up to 12% cheaper than the national average. Reliance only offers 11 add-on options compared to the market average of 14, but they provide five discounts and a seamless online purchasing process that'll provide you with a new policy in minutes.
|Summary of Reliance General Car Insurance|
|Apply any of 5 discounts to their already affordable comprehensive policy|
|Reliance has an optimal 85% incurred claim ratio and a 98.1% claim settlement rate|
|Drivers can conveniently purchase a comprehensive policy online using Reliance's user-friendly platform|
Reliance General Comprehensive Car Insurance Benefits
Reliance's comprehensive car insurance plans are among the cheapest for new sedans and luxury cars, but their most affordable plans are for SUVs. An annual premium for a new Maruti Vitara Brezza starts at Rs. 12,503, 50% below the market average of Rs. 25,081.
According to the data we collected from Reliance, an annual premium for a new Honda Amaze starts 35% below market average, while a premium for a new Mercedes-Benz E-350 can be up to 42% below average.
Reliance's comprehensive plan covers own damage losses due to natural and man-made calamities up to Rs. 15 lakhs, damages and liabilities to third parties, and personal accident coverage for the owner or driver of the car. None of the company's plans cover damages incurred from:
- General wear-and-tear
- Mechanical or electrical breakdown
- Driving without a valid license
- Driving under the influence of drugs or alcohol
- Using a private vehicle for commercial use
- Consequential loss
- Compulsory deductibles
There aren't any unique coverage inclusions built into Reliance's comprehensive plan, and they only offer 11 optional add-ons. For comparison, the average number of add-on choices provided by Indian car insurers is 14.
However, the add-ons that Reliance does provide are extremely beneficial, especially the daily cash allowance. If your vehicle has been getting repaired for more than three days, Reliance will cover your travel expenses incurred from not having use of your car. Most other insurers only provide a daily allowance for hospital fees, and fewer than half of the 16 companies we studied offered the daily cash benefit.
|Engine & Gear Box Protection||Available|
|Consumable Expense Coverage||Available|
|Key & Lock Replacement||Available|
|Electrical Accessories Coverage||Available|
|Non-Electrical Accessories Coverage||Available|
|Personal Accident Coverage (Passenger)||Available|
|CNG Kit Coverage||Available|
|No Claims Bonus Protection||Available|
|Daily Cash Allowance||Available|
|Personal Belongings Coverage||Unavailable|
|Invoice Price Coverage||Unavailable|
|Road Tax Coverage||Unavailable|
|Legal Liability For Paid Driver/Worker||Unavailable|
|Ambulance Expense Coverage||Unavailable|
|Hospital Cash Allowance||Unavailable|
|Medical Expense Coverage||Unavailable|
|Loss of License/Registration Replacement||Unavailable|
|Small Repair Claims||Unavailable|
Reliance also offers add-on bundles as an alternative to their a-la-carte option. The Motor Secure Premium Cover package includes:
- Depreciation coverage
- Consumables coverage
- Engine coverage
- Key and lock protection
The lower-tiered bundle is the Motor Secure Plus Cover, which includes the same add-ons as the Premium plan, but without the key and lock protection.
Despite already offering some of the cheapest comprehensive policies in India, Reliance offers up to five additional discounts to increase your savings even further. Their most unique offering is a location discount, which reduces your annual premium if you have insured the vehicle for usage in a specific geographical location. Among the 16 companies we analysed, only Reliance offers this type of discount.
|No Claims Bonus||Yes|
|Voluntarily Increased Deductible||Yes|
|Auto Association Membership||Yes|
|Vehicle Modified for Handicapped||No|
Reliance Third Party Car Insurance Benefits
Reliance offers two alternatives to their fully comprehensive plan if you're seeking an even cheaper policy or only require a lower level of coverage. Their third party policy includes coverage for damages to third party vehicles or properties and for injury or death of a third party due to an accident.
This policy does not cover damages to your own car due to man-made or natural calamities, and you do not have the option to enhance your coverage with any add-ons. The Indian government regulates third party coverage pricing, including the policy offered by Reliance, so all third party plans from all insurers will cost the same annually.
|Engine Capacity (cc)||Annual Premium|
|1,000cc - 1,500cc||₹3,221|
Comparing Reliance against the Market
Reliance is one of the highest-rated car insurers on the market, earning a 4.9-of-5 stars on both PolicyBazaar and InsuranceDekho. Their policyholders are most satisfied with the affordable annual premiums that still come with a strong scope of coverage, useful add-ons, quick claim settlement, and a speedy, easy-to-understand online purchasing process. Reliance's repair garage network also includes over 4,600 cashless options, another redeeming quality mentioned by their customers.
They're one of the top-10 largest car insurers in India, owning a 5.14% market share, and they boast a 98.1% claim settlement rate, so it's highly likely your claims will be settled in a timely manner. Reliance's 85% incurred claims ratio (ICR) indicates a strong ability to settle claims against annual premium collection. The optimal, healthy range for an insurer is 75-90%, and this company's ratio is the most optimal of any insurer in our study.
Reliance has proven to be a leader across many different categories in the car insurance market, and was rewarded with India's General Insurance of the Year Award in 2015.
|Incurred Claims Ratio||85%||90%|
|Claim Settlement Rate||98.1%||94.3%|
|PolicyBazaar Star Ratings||4.9 (22 reviews)||4.2 (22 reviews)|
|InsuranceDekho Star Ratings||4.9 (152 reviews)||4.9 (167 reviews)|
Online Car Insurance Platform and How to Buy
Reliance's online quoting tool is smooth, informative, and one of the best of the 16 we studied. It explains exactly why you need to fill in the requested information and how it factors into the annual cost of your policy. Consumers are also able to apply discounts and select add-ons during the online purchasing process, while many other insurers require a visit to a branch or a phone conversation with an agent to do so.
The company's website provides consumers with a variety of resources, including live chat support if you have questions or need assistance during the purchasing process, the ability to check the status on an open claim, and even the ability to modify an existing policy. The site also lets you calculate an anticipated annual premium cost before beginning the quoting process, so you can properly budget and select the coverage options that are perfectly suited to your needs.
Finally, Reliance’s garage and branch locator tools allow you to find the nearest in-network repair garage or insurance office so you can make sure the company offers services in your area.
One of the only drawbacks of Reliance's online platform is a slightly outdated quoting process. While is extremely user-friendly and fast, there's quite a bit of unnecessary text to sort through, and your annual premium does not calculate in real-time. So, if you're looking to compare costs for different packages, you'll need to continually re-calculate the price before buying.
Claims Process and Rules
Reliance allows its policyholders to submit video claims directly from their smartphone on the Reliance Self-i App, a feature offered by just three of the 16 insurers we analysed. The app also allows you to instantly video chat with an agent and check the status of your claim.
If you'd prefer to, you may also submit a claim via phone or via Reliance's online portal. If you've used either of these methods to submit a claim, you may check the status of your claim at any time via telephone or Reliance's website.
Reliance offers two different claims reimbursement methods as well. Cashless claims do not require the insured to pay any amount of money up front. Instead, Reliance will be billed directly by one of their in-network cashless garages. Conversely, reimbursement claims require the insured to pay the garage for any repairs performed and submit the receipts to Reliance for review and reimbursement.