First-Party Car Insurance

Most people dream of owning a car. However, purchasing a car comes with the responsibility of following the law and complete vehicle protection. According to the Motor Vehicles Act, long-term third-party car insurance is mandatory.

​But what about your car’s damages and repair expenses?

First-party car insurance is a must for your car’s protection and maintenance. It offers extensive financial coverage to help you manage your car’s repair and replacement costs.

Reliance General offers a variety of first-party motor insurance plans to ensure you find the best car insurance without compromising on budget. With our 1st-party car insurance, you will also enjoy ample customisation, flexible policy tenures and a 100% claim settlement ratio.

What is First-Party Car Insurance?

First-party car insurance is a category of car insurance that covers your vehicle. With a first-party insurance policy, you get coverage for your car damages resulting from accidents or other unforeseen circumstances.

Let us understand first party, second party and third party in motor insurance:

• First party is the policyholder and the insured vehicle
• Second party is the insurance company
• Third party is any person who might suffer damage or injury because of the insured car

First-party motor insurance is an integral aspect of car ownership and protection, as it secures your finances in times of need.

Situations like accidents, natural calamities, man-made disasters, theft, vandalism, etc., can result in a long repair bill. But with a first-party vehicle insurance policy, you can cover the bills with this comprehensive financial safety net.

Although this type of car insurance is not mandatory for all car owners, purchasing it will ensure you enjoy added peace of mind and protection.

List of First-Party Car Insurance Benefits

Comprehensive Coverage

One of the top car insurance first-party benefits is the comprehensive financial protection it offers. With this coverage, you can protect your car and finances from unexpected emergencies.

Customisation Flexibility with Add-Ons

When it comes to the benefits of first-party insurance coverage, you can easily personalise your chosen policy with a wide range of add-ons. Most insurers allow combining additional covers, such as engine protection, tyre protection, key replacement cover, etc., at a slightly higher premium. This ensures your plan meets your specific needs.

No Claim Bonus Benefit

With a No Claim Bonus benefit, you can enjoy discounts on premiums along with extensive first-party benefits coverage. The NCB discount is offered for every claim-free year and increases for every consecutive year in a row, resulting in higher savings on premiums.

Personal Accident Coverage

All car owners must have personal accident coverage as a mandatory requirement by law. With first-party car insurance, you get ample personal accident coverage to get the necessary financial support. This will help both you and your family members in times of need.

24/7 Roadside Assistance

Most first-party insurance providers offer emergency roadside assistance for your car. This comes in handy in case your car breaks down mid-journey or due to an accident issue. Some of the services include fuel deliveries, car towing, tyre changes, etc.

First-Party Car Insurance Plans by Reliance General

What Does First-Party Car Insurance Cover?

• Damage to the car due to an accident
• Damages due to natural disasters
• Earthquakes
• Floods
• Cyclones
• Fire
  
• Lightening
• ​Damages due to man-made disasters
• Riots
• Vandalism
• Terror attacks
• ​Damages due to self-ignition or explosion
• Loss or damage to the car due to theft
• Accidental loss or damage to car belongings
• Damage to the car during transit via air, rail or road

First-Party Car Insurance Exclusions

• Any damage or loss to a third party, their car or property
• General wear and tear of the car
• Using the car against its purpose of purchase (e.g. using the commercial car for private use)
• Any loss or damage to the car due to negligent driving
• Any loss or damage to the car due to driving under the influence of alcohol or any other illegal substance
• Any damage to the car due to depreciation with age
• Electrical or mechanical breakdown
• War or nuclear attacks
• Accidental damage if driving without mandatory car and personal documents

Why Choose Reliance General First-Party Car Insurance?

Who Should Buy First-Party Motor Insurance?

Even though it is always advisable to protect your car with the best first-party car insurance, not everyone wants it. However, this plan is a must for some car owners.

Here is a quick list of car owners who must buy first-party car insurance online or offline for added peace of mind.

• Drivers with Less Experience - Car drivers with limited experience must invest in a first-party car insurance policy. This will help them reduce the financial stress of getting repairs for accidental damages.
• Frequent Car Users - Car drivers who frequently travel long distances with their vehicles must buy first-party vehicle insurance. This will help them manage unforeseen repair and breakdown expenses.
• Drivers Present in Accident-Prone Areas - The risk of accidents is higher in accident-prone areas. Car owners who reside or commute to such regions frequently must secure their vehicles with a first-party insurance policy.
• New Car Drivers - New car owners must secure their vehicle with the comprehensive coverage provided by a first-party policy. This will keep their car’s value intact for a longer duration.

How To Buy/Renew First-Party Motor Insurance?

To Buy the Best First-Party Car Insurance

• Step 1 - Visit our website and select “Car” on the homepage.
• Step 2 - Enter the requested information accurately. It includes the vehicle registration number, mobile number and email address.
• Step 3 - Click on “View Prices” to check all the available plans.
• Step 4 - Choose a plan of your choice, select IDV, combine required add-ons and click on “Buy Now.”
• Step 5 - A premium quote will appear on the screen. If satisfactory, make the premium payment to get the policy via email.

To Renew Four-Wheeler First-Party Insurance

• Step 1 - Go to our website > Select “Renewal” > Click on “Renew Car Insurance.”
• Step 2 - On the next page, add your mobile or policy number in the space provided and select “Go.”
• Step 3 - Your existing first-party insurance will open on the screen. Review and modify the policy as required.
• Step 4 - Check the revised premium quote.
• Step 5 - Once done, make the premium payment to renew your existing first-party car insurance plan.

Also Read - Renew your Car Policy on Time to Save Unnecessary Expenses

How to Calculate First-Party Car Insurance Premiums?

• Step 1 - Open our Car Insurance Premium Calculator on your laptop or desktop.
• Step 2 - Add your car’s registration number, email address and mobile number.
• Step 3 - Select “Check our Prices” to proceed.
• Step 4 - Select the plan of your choice to view the estimated premium quote for a new plan.
• Step 5 - For renewal rates, add your policy number and select “View Prices” to get an estimate.

Also Read - Tips To Lower Car Insurance Premiums

How Is First-Party Insurance Price For A Car Determined?

Car’s Age

Your car’s age has a direct impact on the first-party car insurance price. For older cars, the premiums may be lower due to the vehicle’s depreciation quotient. On the other hand, brand-new cars attract higher premiums due to their newness and market value.

Car’s Make and Model

Your car’s make and model also influence the first-party vehicle insurance premium. Premiums for newer models or luxury cars will be higher, as their repair expenses are higher than those for cars with a lower make and model.

Choice of Add-Ons

Based on the number and type of add-ons, your premium can vary. This is because each add-on increases the premium amount. So, you must choose the add-ons you wish to combine carefully to avoid paying for unnecessary coverage.

Car’s Insured Declared Value (IDV)

Your car’s IDV is the market value of your four-wheeler, which also has a direct impact on your first-party vehicle insurance premium. Thus, if you opt for a higher IDV, your premium will be higher, and vice versa.

Voluntary Deductibles

Many insurers allow you to opt for voluntary deductibles. With this option, you can cover a part of the repair expenses before the insurance claim amount kicks in. So, for a higher deductible, your premium will be lower, and vice versa. However, do not choose a very high deductible, as it increases your upfront expenses in emergencies.

Your No Claim Bonus

You can avail of a No Claim Bonus discount of up to 50% for every consecutive claim-free year. This will reduce your premiums at the time of policy renewal, increasing your savings without causing any gap in the available coverage.

Also Read - What is IDV in car insurance?

How To File a Claim Under First-Party Vehicle Insurance?

• Step 1 - Notify us regarding the first-party insurance claim request within 24 hours of the event’s occurrence. You can do so by -
• Calling us at +91-22-4890-3008
• Online claim intimation from the website
• Downloading our mobile app Reliance Self-i to generate a claim request
• Step 2 - For an accidental damage first-party motor insurance claim, file an FIR and keep a copy of it. In addition, you must collect other supporting documents for the claim.
• Step 3 - Submit a duly filled and signed claim form and other necessary documents to us for verification.
• Step 4 - At the same time, our surveyor will visit you to assess the damages incurred by your car and determine the necessary coverage.
• Step 5 - Once we have the surveyor’s report and your documents, we will evaluate and approve or reject the claim. If approved, the applicable claim settlement amount will either be reimbursed in your bank account or settled directly with the network garage.

Also Read -Know When to File and When Not To File Car Insurance Claim

Difference Between First-Party and Third-Party Car Insurance

Points to Consider While Buying First-Party Car Insurance

Policy Tenure

Insurers like Reliance General offer both annual and multi-year first-party motor insurance policies to suit different needs. You must carefully assess your requirements to choose a suitable policy tenure. With this, you will benefit from comprehensive vehicle protection and competitive premiums.

Policy Comparisons

Do not buy first-party car insurance online before comparing different plans from various insurers. This will help you find a plan that best aligns with your coverage needs and budget.

Choice of Add-Ons

You get ample customisation flexibility with first-party vehicle insurance. However, you must be careful when choosing the add-ons you wish to combine with your base policy. This will help you personalise your policy without exceeding your budget or paying for unnecessary add-ons.

Policy Wordings

Read the policy wording carefully before buying any first-party plan to understand the policy terms, conditions, inclusions and exclusions in detail. This will help you choose the right plan for your car based on your requirements.

Discounts

When you buy a policy online, you will have higher discount options offered by insurers. With this discount accessibility, you can reduce your 1st-party car insurance price and increase your savings.

Also Read - 5 Important Car Insurance Tips

Frequently Asked Questions

​ How to reduce first-party insurance prices for cars?

• Opt for a higher deductible.
• Secure your car with safety devices to reduce the risk of theft.
• Buy multi-year or bundled policies.
• Reduce add-ons.
• Opt for a lower IDV.
• Buy online to avail of various discounts.

Can I file a cashless claim with first-party car insurance with Reliance General?

Yes, with Reliance General First-Party plans, you can file a cashless claim without any hassle. We offer 10,000+ authorised garages in our network to help you get quality repair services and cashless claim convenience.

What are some add-ons available with Reliance General first-party plans?

Some add-ons that you can combine with your first-party insurance policy include -

• Nil depreciation
• Engine protection
• Key replacement
• Return to Invoice cover
• Consumables cover
• NCB retention cover
  

Is it possible to customise my third-party car insurance?

No, you cannot customise your third-party car insurance policy. Only first-party and comprehensive plans can be customised with a wide range of add-ons.

I am taking my car for its first 7-day trip. What first-party insurance should I buy?

For short-trip coverage, we recommend the Reliance Standalone Own-Damage Short-Term Insurance plan. It offers the flexibility to choose a coverage period of as low as one day to several months, depending on your individual needs.

Are there any fines if I do buy a first-party car insurance policy for my vehicle?

No, there are no fines for not having a first-party car insurance policy. Only third-party car insurance is mandatory under the Motor Vehicles Act, and thus, fines are only applicable if you do not have third-party insurance.

What documents are necessary to file a first-party car insurance claim?

• A duly filled and signed claim form.
• A copy of your car’s registration certificate.
• First Information Report (for accidental damage or theft).
• A copy of your first-party insurance policy.
• Photographic and video evidence of the damages incurred.
• Repair bills (for reimbursement claims).
• Copy of your driving licence.

What are some benefits of choosing long-term first-party car insurance?

• No annual renewals
• Cost-effective premiums due to a longer commitment with the insurer
• Continuous coverage​
  

Disclaimer:*T&C Apply. For more details on risk factors, terms conditions, brochure, and exclusions, please read the policy wording and CIS carefully before concluding a sale.

Premium: The premium mentioned for car Insurance excludes taxes for the private car model Maruti Suzuki Alto 800 with a cubic capacity of less than 1000 cc for a 1-year Own Damage Insurance policy for an IDV of ₹2,34,728. The premium used is 2,853/year as of 1 March 2023 and then converted into a per-month basis, which gives us ₹238/month (2,853/12).

Discount: The discount varies basis vehicle specifications, No Claim Bonus discount and Geographical location of the vehicle to be insured. Discounts have been calculated on the basis of the rates prescribed under erstwhile Indian Motor Tariff. Discounts are applicable only to the Own Damage section and discounts may vary as per the vehicle make, model, RTO, age of the vehicle and addition of add-ons like Reliance Limit Sure-Pay As You Drive.