First Party Car Insurance: Shift Your Car's Protection into Next Gear
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11,000+ Network Garages
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Up to 90% Discount*
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Buy, Renew & Claim on Self-i
What is First Party Car Insurance?
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.
IndusInd 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 and flexible policy tenures.
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 IndusInd General
Individual First-Party Auto Insurance Plans
Standalone 1st-Party Car Insurance: With our standalone own-damage first-party plan, you get annual coverage for vehicle protection with ample customisation flexibility.
Short-Term 1st-Party Car Insurance: With our short-term or temporary first-party insurance, you can avail of customisable financial coverage for your car for as little as one day or as long as several months.
Long-Term 1st-Party Car Insurance: With our long-term first-party car insurance policy, you can enjoy continuous vehicle protection coverage for 2, 3 and 5 years, without the hassle of annual renewals and with ample customisation flexibility.
Combined Coverage Plans (3rd Party + First Party Motor Insurance Policy)
Comprehensive Car Insurance: Our comprehensive car insurance policy is an annual plan that offers combined coverage for third-party and own damage expenses for your vehicle. Moreover, you can customise your plan with a range of add-ons.
Commercial Car (Taxi) Insurance: Our commercial car first-party insurance policy protects your vehicle from unforeseen circumstances along with ample third-party coverage to ensure no gaps in business operations. Choose our Private Car Package 3-Year Policy for combined 3-year coverage for own damages and third-party expenses.
Private Car Bundled Policies: You can also opt for your Private Car Bundled Policy to enjoy 1 year of own damage along with 3 years of third-party coverage.
Inclusion & Exclusion of First-Party Car Insurance
What is Covered
Damage to the car due to an accident
Damages due to natural disasters like Earthquakes, Floods, Cyclones, Fire and Lightening
Damages due to man-made disasters like Riot,
Vandalism and 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
Expenses of emergency medical evacuation
What is Not Covered
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 IndusInd 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?
Buy Online
Visit our website and select “Car” on the homepage.
Enter the requested information accurately. It includes the vehicle registration number, mobile number and email address.
Click on “View Prices” to check all the available plans.
Choose a plan of your choice, select IDV, combine required add-ons and click on “Buy Now.”
A premium quote will appear on the screen. If satisfactory, make the premium payment to get the policy via email.
Renew Online
Go to our website > Select “Renewal” > Click on “Renew Car Insurance.”
On the next page, add your mobile or policy number in the space provided and select “Go.”
Your existing first-party insurance will open on the screen. Review and modify the policy as required
Check the revised premium quote.
Once done, make the premium payment to renew your existing first-party car insurance plan.
How to Calculate First-Party Car Insurance Premiums?
Step
Open our Car Insurance Premium Calculator on your laptop or desktop.
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Add your car’s registration number, email address and mobile number.
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Select “Check our Prices” to proceed
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Select the plan of your choice to view the estimated premium quote for a new plan.
Step
For renewal rates, add your policy number and select “View Prices” to get an estimate.
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.
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.
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.
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.
Voluntary Deductibles
Opting for a higher deductible lowers your premium, but it means paying more out of pocket during claims. Avoid setting it too high to prevent heavy upfront costs in emergencies.
Driving History
Your past driving record matters. A clean history with no accidents or traffic violations can help you secure lower premiums, while frequent claims or violations may increase your cost.
Disclaimer
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.
Difference Between First-Party and Third-Party Car Insurance
Parameters | First-Party Motor Insurance | Third-Party Car Insurance |
|---|---|---|
Scope of Coverage | It only covers all losses and damages incurred by your car. | It only covers third-party expenses if you cause any loss or damage to any third party. |
Legal Mandate | It is not mandatory as per law. | It is mandatory under the Motor Vehicles Act. |
Premiums | It generally has higher premiums, as it offers extensive protection for your car. | It generally has lower premiums, as it offers limited coverage. |
Customisation Flexibility | It can be customised with a wide range of add-ons, such as NCB benefits, engine protection, emergency transport, and tyre protection. | It cannot be customised. |
Key Benefits | Own damage coverage NCB Benefit Complete Vehicle Protection Customisable | Legal compliance Coverage for legal and compensatory expense Lower premiums |
Points to Consider While Buying First-Party Car Insurance Policy Tenure
Insurers like IndusInd 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.
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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 11,000+ 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
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