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Be it a high-end Honda car with top-notch accessories or a budget-friendly variant, replacing or repairing damaged parts can lead to high out-of-pocket expenses. Losses due to theft, vandalism, accidents, natural or manmade disasters can also add up to a hefty amount. 

 

While these are beyond your control in most cases, the right Honda car insurance policy can help. A cover like this is necessary to protect your vehicle against such risks and compensate you for the loss. 

 

As you may know, a third-party car insurance plan is compulsory for your Honda car as it is mandatory by law in India. However, comprehensive Honda car insurance can serve you in more ways. 

 

Read on to understand the process of buying a Honda car insurance plan and the features you can expect it to have.

Honda Car Insurance Price for Popular Models

Here is a list of some of the most popular Honda car models with their average prices and Honda car insurance costs:

Honda Car Model

Ex. Showroom Price*

Fuel Type

Estimated Third-party Premium**

FY 2022-23 (effective 1st April 2022)

Honda City

₹11.60 Lakhs - ₹15.50 Lakhs

Diesel/Petrol

₹3416

Honda Amaze

₹6.50 Lakhs - ₹11.50 Lakhs

Diesel/Petrol

₹3416

Honda WR-V

₹9.10 Lakhs - ₹12.30 Lakhs

Diesel/Petrol  

₹3416

Honda Jazz

₹8.10 Lakhs - ₹10.40 Lakhs

Petrol  

₹3416

*Third-party premium rates and ex. showroom prices are indicative. The actual Honda car insurance cost are bound to vary as per your policy terms and add-ons, if any. Make sure you understand the cover and the premiums before you finalise your insurance plan.

Check Out Car Insurance Plans Available at Bajaj Markets

Name of the plan

Features

Honda Car Insurance Cost

 

ACKO

High claim ratio settlement of 95.50%

Paperless documentation process

Nominal premium amounts

Personal accident coverage up to ₹15 Lakhs

Digital renewals

 

Premium starting at ₹2094

 

HDFC ERGO

Personal accident coverage up to ₹15 Lakhs

Claim ratio settlement of 99.00%

Overnight repair facility

Emergency assistance

Speedy processes

Up to 7,700+ cashless network garages across the country

 

Premium starting at ₹2094

 

BAJAJ Allianz

Claim ratio settlement of 98.54%

24X7 roadside assistance

Cashless claims

Quick online renewal options

Speedy claim settlements

Up to 4,500+ cashless network garages

 

Premium starting at ₹2094

 

SBI General

Claim ratio settlement of 98.00%

Multiple Add-on Covers

Cashless Claims

Minimal Documentation

24*7 Customer Care

 

Premium starting at ₹2094

Disclaimer: The prices above may change as per the discretion of the insurers.

How to Buy Honda Car Insurance Online Within Minutes?

Here are the steps you can follow to buy a new Honda car insurance online:

 

  • Step 1: Click on the ‘Check Plans’ tab at the top of the page and land on the ‘Car Insurance Premium Calculator’ page

  • Step 2: Fill in the necessary details like your car’s registration number and your mobile number

  • Step 3: Choose the Honda car insurance plan that best suits your requirements

  • Step 4: Pay the car insurance premium online

 

The insurer will send the Honda car insurance policy to your email address after verification of information and receipt of the payment.

How to Renew Honda Car Insurance in a Few Clicks?

Follow these five easy steps to renew your Honda car insurance policy.

 

  • Step 1: Visit your car insurance company’s official website

  • Step 2: Enter your car’s registration number and your contact details

  • Step 3: Enter your previous policy details

  • Step 4: Check the premium for your Honda car insurance renewal 

  • Step 5: Make an online payment

 

That’s all. Once you are done, you can download a copy of your renewed Honda car insurance policy. 

What Does Your Honda Car Insurance Cover?

Third-party car insurance covers any damages caused by your insured Honda vehicle to a third party. These damages include physical injuries, property damage, vehicle damage and death. 

 

A comprehensive Honda car insurance policy covers third-party liabilities and damages caused to your insured vehicle due to theft, natural calamities, malicious acts, etc.

What is Not Covered in Your Honda Car Insurance?

Every policy has limitations. Some of the exclusions of a comprehensive Honda car insurance may occur in instances when:

 

  • You drive without a licence 

  • You drive under the influence of alcohol or drugs

  • You use the vehicle in a way that contradicts the purpose as per your insurance policy

  • You drive the Honda car outside the location specified in the policy 

 

Apart from these, damage due to depreciation, mechanical breakdown, electrical issues and wear and tear related to consumables are also not usually covered. 

Want to Enhance Your Honda Car Insurance? Get These Add-On Covers

Comprehensive car insurance allows you to extend the scope of your coverage with the help of add-on covers. Some of the covers that you can buy with a comprehensive Honda car insurance plan are as follows:

Zero Depreciation

Zero depreciation cover allows you to receive total compensation on the claim you make without factoring in depreciation.

Return to Invoice

In case your vehicle is lost or stolen, you will receive the invoice value of your Honda car. The invoice value is the amount you pay at the time of purchasing the car.

No Claim Bonus (NCB) Protection Cover

With this cover, the NCB in Car Insurance remains unaffected even after you file a claim on your Honda car insurance plan.

Accessories Cover

This covers damages incurred to your Honda car’s accessories in case of a mishap.

Why do you Need Honda Car Insurance?

What's the difference between driving and driving safely? The answer is car insurance.

 

You may be a great driver, but you are always exposed to certain risks while driving your Honda car. 

 

Unfortunate events such as accidents, theft and vandalism are some things that are not in   your control. A comprehensive Honda car insurance plan will protect your vehicle against such risks and compensate you for the loss incurred. Besides, having third-party car insurance for your Honda car is mandatory according to the Motor Vehicles Act in India.

Which Honda Car Insurance is Right for you?

In India, you can sign up for Third Party Car Insurance or Comprehensive Car Insurance.

Third-Party Car Insurance

When you buy a new vehicle, it is compulsory to have third party car insurance. While you can pay affordable premiums for third-party car insurance, the scope of coverage provided is limited. 

 

With this plan, you will be covered for all the third-party liabilities. However, any damage to your vehicle or you is not covered under this plan.

Comprehensive Car Insurance

For a better cover, opt for comprehensive coverage. Despite the fact that you may have to pay slightly higher premiums, comprehensive car insurance provides complete protection to you and your vehicle in case of accidents.

 

Apart from covering all third-party liabilities, comprehensive plans also include the damage or loss incurred by your vehicle during collisions or other incidents as well as robbery and loss caused by both man-made and natural calamities. 

Claim Process for Honda Car Insurance

You can make both cashless and reimbursement claims with your Honda car insurance plan. If you are opting for a cashless claim, visit a network garage to repair your Honda car.

 

However, if your preferred garage is not included in the Honda car insurance network list, you can use the reimbursement claim option.

Follow these simple steps to file your Honda car insurance claim:

 

  • Step 1: Inform the insurer about your Honda car mishap

  • Step 2: Await evaluation of damage by a surveyor sent by the insurer

  • Step 3: Send your car to a network or non-network garage, based on your preference

  • Step 4: Complete the insurance claim form and attach all required documents

  • Step 5: Submit the form to the insurance company

  • Step 6: Collect the car from the garage after repair

 

In case of a cashless claim, your insurer settles the bill directly with the garage. For a reimbursement claim, you have to pay money from your pocket. Then, send the bills and necessary documents to the insurance company. After verifying the bills, your insurer reimburses the claim amount.

Things You Must Know While Filing a Claim for Your Honda Car Insurance

Now that you are familiar with the Honda car insurance claim process, here is a brief overview on the types of car insurance claims.

Claim Cashless Car Insurance for Honda Cars

In this case, the insurer settles your repair bills directly with the network garage. 

Claim Reimbursement for Honda Cars

Here, you can get your car fixed at your preferred garage, pay the bill, and raise a reimbursement claim. After approval, you get the amount in your bank account as per the policy terms.

 

Take a look at the important documents you need for making a claim against your Honda car insurance:

 

  • Honda car insurance policy document

  • Honda car details

  • Honda car insurance claim form

  • Details of the Incident

  • FIR copy in case of theft

  • Original bills and receipts of the vehicle repair

  • Driving licence copy

Tips to Reduce Honda Car Insurance Cost

Here are some easy ways to reduce the insurance cost for your Honda vehicle:

Maintain Your Honda Car in Good Condition

One of the deciding factors of your car insurance premium price is the condition of your vehicle. Make sure that you maintain your Honda car and get it serviced regularly to avail a lower premium.

Install Anti-Theft Devices in Your Honda Car

Install anti-theft equipment like car alarms, tyre locks, kill switches and more that are authorised by the Automotive Research Association of India (ARAI) to reduce your insurance premium.

Compare Honda Car Insurance Quotes

Make sure to compare the Honda car insurance plans offered by various insurance companies to get the best car insurance plan that suits your needs!

Use No Claim Bonus Rewards

No Claim Bonus is a reward you can earn for not making any claims throughout the car insurance policy tenor. This bonus enables you to get a lower renewal premium on your Honda insurance policy.

Check Out Car Insurance Partners Available at Bajaj Markets

FAQs on Honda Insurance

What factors affect my Honda car insurance premiums?

The following factors can influence your Honda car insurance price:

  • Make and model of the vehicle

  • Age of the vehicle

  • Type of car insurance opted for

  • City of vehicle registration

  • IDV of the vehicle

  • The cubic capacity of the Honda car

  • Year of manufacturing

  • Add-on covers (if any)

Will the insurer inspect my Honda before renewing my car insurance?

Depending on your claim history, the insurer will either send a vehicle inspector or ask you for a self-inspection report during the renewal process. 

Will I lose the No Claim Bonus (NCB) if my Honda car insurance expires?

NCB benefits are applicable for a period up to 90 days after your Honda car insurance expires. If you fail to renew the policy within this time, you will lose the NCB earned.

Is it compulsory to buy car insurance for my Honda car?

Yes. A third-party car insurance policy is mandatory by law under the Motor Vehicles Act, 1988, to legally drive on Indian roads.

What will happen if I do not have Honda car insurance for my new car?

You will be issued a challan if you fail to have a valid third-party Honda car insurance policy in case you are stopped by traffic police personnel. If this happens more than once, your licence could be revoked or you may face imprisonment.

What is the formula to calculate IDV in Honda car insurance?

The formula to calculate the Insured Declared Value or IDV = (Manufacturer’s listed price – the Honda vehicle’s depreciation value) + (Cost of Honda vehicle accessories – the part’s depreciation value).

Which cover should I opt for Honda car insurance?

While buying a comprehensive insurance plan is always an ideal option, it is best that you add the zero depreciation and return to invoice covers. 

With a zero-depreciation cover, the depreciation factor is not considered. If you opt for a return to invoice cover, you can get the total amount you had paid during the purchase of the car in case of theft.

What is the process to renew my Honda car insurance after expiry?

If your existing policy has expired, you can renew it within a timeline of 30 to 90 days. The Honda car insurance renewal process is easy and simple. All you need to do is visit the insurer’s website and choose the car renewal option. 

Fill in the required details and check your renewal premium. Pay the amount online and download the renewed policy document.

What is the Honda City insurance cost?

You can find estimates for the Honda City insurance cost on Bajaj Markets. 

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