Types of Honda Insurance Policies Offered by Reliance General Insurance
The different types of insurance policies you can buy for your Honda car include the following:
Third-Party Liability Policy
Mandatory under the Motor Vehicle Act, 1998, a third-party liability covers you if your car damages third-party vehicles or property, causes them to be injured or leads to their death. Such a policy ensures that you are legally and financially protected from paying third parties due to losses causes by your car. In India, you cannot drive vehicles if you do not have third-party insurance.
Own-Damage Insurance Policy
An accident can cause damages to both, third-party vehicles and your Honda Car, but you cannot claim the costs of repairs if you only have third-party insurance. To ensure your vehicle is also covered, you need an own damage insurance policy. Besides covering your car for accidental damages, the policy also includes coverage against damages/losses caused by natural calamities and human-made perils.
Comprehensive Insurance Policy
A Comprehensive car insurance is widely considered an all-encompassing policy that covers you against both, third-party liabilities and own damages. The protection includes coverage from a wide range of risks that your Honda car can potentially face. Moreover, you have the option to enhance your coverage with various additional riders, designed to cover you against certain, specific expenses.
Features of Honda Insurance
Some of the salient features of the Honda auto insurance policy are as follows:
If you opt for an own-damage cover or choose a comprehensive car insurance policy, you can protect your Honda car financially. For example, if your car incurs damage due to an accident or gets stolen, you receive compensation to repair or replace it. Insurance companies assess the incident and offer compensation based on the coverage limit.
Third-party Liability Coverage
Colliding with another car is always a possibility while you are on the road. Whether it is an untoward accident or a mishap due to natural calamities, if the cause is an insured event, you need not worry. The insurance company will step in to reimburse the third-party for the damages, injuries, and legal fees associated with the incident.
Wide Range of Threats Covered
From accidents to fire, there is a wide range of threats that can cause damage to your car and affect others, leaving you with a hefty bill. But if you buy car insurance online, you can rest assured knowing that your vehicle is protected from varied threats. Besides accidents and fire, you get covered for theft, natural disasters, and various human-made incidents.
The coverage in a standard car insurance policy lets you financially manage the common perils. But if you have specific needs, you have the option to customise the Honda auto insurance plan. You get optional add-on riders like coverage for consumables, nil depreciation, engine protection, etc., with a comprehensive plan that addresses your specific requirements.
If you have been a responsible driver and have not raised any claims during the policy period, your Honda car insurance provider will reward you with a no claim bonus. NCB is a discount you can use to reduce the premium for the next year. If you let your NCB accumulate and go without filing claims for five consecutive years, you can get discounts of up to 50%.
Protection During Transit
When your car is transported via a public carrier through waterways, airways, or railways, it can be damaged during the transit process. The damages can range from small scratches to more significantones, including total destruction of the vehicle or certain vehicle parts. A comprehensive Honda auto insurance policy covers the cost of such damages.
When you file a claim for car insurance, you have the option to choose the method of settlement based on your convenience. You can either opt to settle the bills at your preferred garage and ask the insurer to reimburse you for the expenses or use the cashless garage facility. Under the cashless garage facility, insurance companies form a network of garages to settle claims directly.
Besides insuring your Honda car, you must get complete medical protection while driving. A Health Insurance policy from Reliance General Insurance is an excellent way to ensure such protection.
Exclusions to Check in Honda Car Insurance
Damages or losses incurred in the following conditions are excluded from Honda insurance coverage:
Maintenance-related Expenses
Regularly servicing your Honda car helps in detecting any issues and correcting them to avoid complications. But if you do not service your vehicle on time, you may incur problems like mechanical or electrical break down over the course of usage. In such cases, you cannot raise a claim under car insurance. You will have to pay for the damages caused due to non-maintenance out of your pocket.
Driving under the influence of alcohol or drugs is a criminal offence. It not only puts your safety but that of others at risk. Intoxicated driving is the leading cause of fatalities like accidents. So, if you collide with another individual or vehicle while being inebriated, insurers are not liable to compensate you. You will have to cover third-party liabilities and own-damage expenseson your own.
Following traffic rules is critical to maintain road safety. It also reduces your chances of running into accidents. Hence, when you ignore a stop sign at the traffic signal, you put yourself and others at risk. Any mishap that takes place from breaking traffic rules is considered contributory negligence. So, even if you file a claim for Honda car insurance coverage, your claim will be rejected.
Taking the Car Outside India
Car insurance policies are specifically designed to cover damages that occur within the country unless specified otherwise. Hence, if you are taking your Honda car on a road trip from India to Nepal or other specific countries, any damage occurring beyond Indian borders is excluded from car insurance coverage. The same goes for carrying your car on a public carrier to another country.
Using your Honda car for commercial purposes exposes it to a higher level of risk. For example, if you have a food-delivery business and there is an urgent delivery, you may use your Honda car to reach the customer. While doing so, you may drive fast and come across high-traffic areas. Personal cars are not designed for such driving. Hence, insurers exclude such usage from car insurance coverage.
Damages caused due to war or nuclear attacks can be catastrophic. Often, the repercussions arising from these events are outside the scope of coverage. There is no way to accurately assess the risk of such attacks and determine the appropriate coverage. So, if your car is impacted due to a nuclear explosion, radiation leak, or bio-chemical attack, insurers do not offer Honda car insurance coverage.
Suppose you get into an accident and your car gets irreparably damaged. When you file a claim, the insurance company will only cover the cost of repairs minus the depreciative value. That means the normal wear and tear that might have made the damage worse is not considered under the coverage. You will only get compensated for the direct impact of the insured event.
Note: The coverage and exclusions are based on the type of policy you select. For example, a third-party liability policy will not cover damages affecting your car, whereas a comprehensive policy will cover a wide range of damages or losses.
Advantages of Buying Honda Car Insurance Online from Reliance General Insurance
You can enjoy the following benefits if you buy car insurance for your Honda car from Reliance General Insurance:
Reliance General Insurance offers Honda car insurance at very competitive rates. But if you want to lower it further, you can do so with the help of the varied discounts you get with the policy. The discounts are applicable if you opt for a higher voluntary deductible, install anti-theft devices, and have a membership with the Automobile Association of India (AAI). You can also utilise your accrued NCB.
Hassle-free Claim Settlement
Having a smooth claim settlement experience is of utmost importance to get through any accident or unprecedented road-side mishap. To that end, you can trust your Reliance General Insurance policy to come to your aid. Our reliable customer support representatives, a wide network of cashless garages, and the quick garage locator facility on the Reliance Self-i app ensures your claim are settled quickly.
Reliance General Insurance ensures convenience at every step of the way. Be it getting an insurance quote, buying one or more policies, raising a claim, or Honda car insurance renewal, every process seems like a breeze. You can either log in on the Reliance General Insurance website or download the Reliance Self-i app on your smartphone to conduct the various procedures mentioned above.
When you buy Honda car insurance online, you need not worry about going through the hassle of paperwork. You can simply upload the necessary documents like, copies of your identity proof, address proof, and vehicle registration documents to complete the KYC compliance formality. To make the process easier, you can use the Reliance Self-i app anywhere, anytime for any queries.
No matter your coverage needs, we at Reliance General Insurance, take all kinds of mishaps and scenarios into account while formulating our policies. You can expectwide coverage with a range of assorted add-on riders, should you choose to expand your base policy. By customising your policy with the varied add-on riders, you can get all-encompassing protection for your vehicle.
Just like your car, you can safeguard your motorcycle from damages and losses. All you need is a
bike insurance policy from Reliance General Insurance.
Things to Consider Before Buying Honda Car Insurance Policy
Here are some crucial factors to look into before you buy Honda car insurance online:
Understanding what you want is important even before you start comparing the available offers. Your protection needs and budget will give you the clarity required to find the best-suited Honda four-wheeler insurance plans. It will reduce the time taken to compare various policies with attractive offers, which would otherwise be a confusing process when you do not know what you exactly want.
Insured Declared Value (IDV)
Some incidents cause severe damage to your car, making restoration difficult. Other times, your Honda car might get stolen. In both cases, you may need total replacement if your car is totally damaged. Insurers consider the IDV to cover the cost of replacement. IDV is the maximum amount paid in case of total loss. It is determined based on the current market value of your car minus depreciation.
When you buy car insurance, you are investing in financially securing your vehicle from untoward events. However, the financial coverage kicks in after you contribute a deductible amount, which can be compulsory or voluntary. A lower deductible leads to higher premiums. If, however, you consider yourself a safe driver, you can opt for a higher deductible which translates to lower premiums.
Insurers charge premiums differently. Although most insurers offer a competitive rate, the kind of discounts they provide has a significant impact on the amount payable and how much you can save. Hence, you should compare the rate of Honda car insurance from different insurers before buying your policy online. You can use a car insurance premium calculator to get an estimate.
Every insurance company offers a different value. Comparing various insurers is the best way to get a suitable policy for your Honda car. You can check the customer reviews, claim settlement ratio, the number of network garages, discounts, and other value-added facilities to thoroughly evaluate insurance providers. Besides, considering their reputation also helps you make the right pick.
Procedure for Honda Car Insurance Renewal Online
You can renew Honda car insurance online by following the simple steps listed below:
Step 1: Select the Renewal Option
Visit the Reliance General Insurance website and click on the 'Car Insurance' option under the main menu. When you do, you will find a box on the left-hand side where you can specify that you already have an existing car insurance policy.
Step 2: Enter the Required Details
In the same box, you can enter your registered mobile number or your policy number. You can find the policy number on the policy document. Once done, you can click on the 'Renew My Policy' button. You then need to provide additional details related to your policy.
Step 3: Review & Modify Your Policy
After entering the necessary details successfully, you can view a summary of your existing policy along with the add-ons if you have a comprehensive plan. Review the summary and make the changes as required based on your changing needs during the policy period.
Step 4: Check the New Terms
When you thoroughly study the renewed coverage, you will also come across the renewed terms based on the current insurance policy terms. The same goes for the premium amount. Check the renewed premium amount and ensure it is correct as per your required terms and coverage.
Step 5: Pay the Renewed Premium
Upon understanding the renewal terms and the premium amount, you can pay the premium amount and renew your policy. You can make the payment via Net Banking, Debit/Credit Card, UPI, etc. The insurer sends you an e-copy of your renewed policy on your registered email address.
Factors Impacting Honda Car Insurance Prices
At Reliance General Insurance, we take several factors into account while determining your Honda Car's Insurance premiums. These include:
Location of Car Registration
The area where your car is registered and driven has an impact on the car insurance premium. If you have registered your car in a metro city with heavy traffic or an area with a challenging terrain, the risk of accidents increases. Hence, the premium will be higher. On the other hand, cars registered in rural areas with fewer cars on the road and a lower likelihood of risks attract a lower premium.
The type of coverage you choose directly affects the premium payable. If you go for basic coverage with no additional benefits, for example, a third-party policy, you pay a standard premium. On the other hand, if you opt to enhance your coverage with comprehensive or own damage cover, you incur a slightly higher premium due to the extensive range of coverage offered with these plans.
Your Honda car's model, make, age and engine capacity typically affects its performance, which in turn, affects how it copes with perils. Hence, insurance companies consider the car specifications for assessing the risk value and the protection it requires. Based on such information, they determine the premium rate applicable on the policy.
Your Age and Driving Record
With age comes driving experience. The older you are, the more adept you will be at road safety as opposed to when you are young. Insurers consider this aspect to determine if you are a responsible driver. They also consider your driving record to understand if you have a history of accidents. If you do, the premiums may be higher, whereas if you are deemed a safe driver, the premiums may be lower.
If you are a car enthusiast, you might want to modify and enhance certain features in your Honda car. You may choose to add performance tires, upgrade suspension, and make aesthetic changes. While you may find such modifications appealing, insurers consider them risky, which increases the premium. Contrarily, installing anti-theft devices protects your car. Hence, you get a discount on the premium.
Step-by-step Guide to a Filing a Honda Car Insurance Claim
The claim-filing process for a Honda four-wheeler insurance policy involves the steps mentioned as under:
Step 1: Collect Information
You will need information related to the incident. It is better to gather the details before filling in the claim form. You can strengthen your claim by collecting the contact number of the parties involved or the witnesses, taking photos/videos at the accident site, and other relevant information. Also, be prepared with your policy document to provide details about your Honda car insurance.
Step 2: Register FIR and Notify the Insurer
After collating the necessary information, you should register a First Information Report (FIR) at your nearby police station and obtain a copy of the same. You must also inform the insurer at the earliest. You can do so by calling their helpline or writing an email. Once done, you can take your vehicle to the garage and get it repaired. You can choose between the cashless facility and reimbursement models.
Step 3: Fill in the Claim Form
Once you are prepared, you can initiate the claim process by filing the claim form online on the insurance company's website or through the app. In the form, you must enter your personal details, vehicle-related information, description of the incident, and policy details. Make sure to review and submit the correct information for a smooth claim processing.
Step 4: Submit Required Documents
To support the information provided in the claim form, you must also furnish the relevant documents. They include a copy of your driver's license, vehicle registration certificate, the original bills (in case you opt for reimbursement), the FIR obtained from the police, etc. The exact documentation may differ based on the incident and the specific requirements of the insurer.
Step 5: Get Your Claim Settled
The insurer now settles your claim based on actuals. If you opt for the cashless garage facility, the insurer directly pays their network garage for the repair costs up to the sum insured amount. If, on the other, you choose the reimbursement model, the insurer checks the bills submitted by you and reimburses you for the costs borne. It typically takes 15-21 working days for insurers to settle claims.
Reliance Car Insurance Plans for Honda Cars
Reliance General Insurance offers car insurance policies for a range of Honda cars. Some of them include:
You can check the car insurance price for your Honda car model by providing basic details on the Reliance General Insurance site.
Planning to take a trip overseas? Why not take your car along? Just remember to have insurance for both, your vehicle and your trip. Choose
Travel Insurance Plans from Reliance General Insurance.
