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Frequently asked questions for Reliance car insurance
1. In Reliance general, what is the No Claim Bonus?
No Claim Bonus is a discount granted by the company if the insured does not file a claim for the duration of his or her policy period.
2. When it comes to renewal, what is the maximum No Claim Bonus limit?
If no claims are filed for consecutive years, the No Claim Bonus rate will be calculated as follows:
20% percent after one year
25% for the second year
35% percent in the third year
45% percent for the fourth year
Or for a longer period – 50%
3. How long does it take for Reliance general to renew vehicle insurance?
Renewal of car insurance coverage with Reliance is a simple and quick process. The time you spend filling out your auto insurance information and completing an online payment.
4. When should my Reliance car insurance be renewed?
Before your auto insurance coverage expires, you should renew it. You can also renew it within 90 days of the last renewal date if you missed it. If you do not renew your policy within 90 days of its expiration date, you will forfeit your NCB benefit.
5. I have only third-party insurance. Is there a separate process for renewing it?
No, both comprehensive and third-party insurance must be renewed using the same procedure.
6. What does the term "Insured Declared Value" imply?
IDV stands for "insured declared value." The value of the car is determined at the time the policy is purchased by the policyholder. In the event of a claim, this value is used to calculate the claim amount for total loss, theft.
7. Is it possible to transfer car insurance when a vehicle is sold?
Yes, a car insurance policy can be transferred to a new owner if the insurance company provides sufficient proof.
8. Does vehicle insurance cover the owner-driver cover?
Not all insurance policies cover the driver or the owner as a part of the basic car insurance that only provides third-party coverage. If the policyholder wants comprehensive coverage, he or she should get a policy that includes both third-party and CPA coverage (owner-driver coverage).
9. Is it legal for me to operate a car with third-party insurance?
You must have permission to drive the car and it must be covered by a current insurance policy. Driving a car with comprehensive coverage is normally only offered as part of a comprehensive insurance policy; if you only have third-party coverage, you will not be protected to drive other vehicles.
10. What are the advantages of third-party car insurance?
In the event of an unfortunate event, third-party car insurance protects you from any accidental liability, legal liability, or property damage.
11. Is a third-party car insurance inspection required?
If a vehicle is simply insured for third-party liability, no inspection is necessary.
12. I have a certain percentage of NCB accumulated. Is it transferable in reliance?
Yes, it is transferable when renewing your car insurance policy, transfer of NCB must be done within 90 days of renewal due date.
13. How is the premium amount for private cars fixed by the company?
Premium to be paid depends on some factors like IDV of car, place, and date of registration, cubic capacity of the car, etc.
14. Do I need to report to the police in Reliance general?
Yes, you should immediately report to police in case of death of a third party, injury of self, or any third party property damage. Lodge an FIR of an accident and keep a copy of the same.
15. What is constructive Total loss in Reliance general?
The repair cost of a damaged car is more than its current market value, the loss is known as constructive Total loss.