Honda Car Insurance

Honda is one of the biggest automobile manufacturers in the world, since 1959, the largest motorcycle manufacturer, and it is also known for the production of power equipment. It began in 1946, with the inauguration of Honda Technical Research Institute in Hamamatsu, Japan by  Soichiro Honda. The institute was the first step towards the development and production of motorbike engines which subsequently led to the birth of Honda Motor Company Ltd.

Honda Cars India Ltd(HCIL) was incorporated in 1995 as the subsidiary of Honda Motor Company Ltd. The first manufacturing unit of the company was set up at Greater Noida, U.P, which currently has an annual production capacity of 120,000 units.  Since then, there have been many other manufacturing units set up across the country.

Honda Car Insurance

Honda provides various mid-range and luxury cars in India among which some of them are Honda Amaze, Honda All New Jazz, Honda Mobilio, Honda City, Honda Brio and Honda CR-V. These models are designed to align with the standard that Honda has with respect to design, technology, durability, and the fuel-efficiency.

While choosing the perfect Honda car for you and the family, you must also search for the ideal car insurance which should meet your requirements. It is advisable from the mymoneykarma experts that while researching for the best dream car, parallelly do some research for car insurance as well. The price and features of each insurance vary, so the buyer needs the complete up to date information to compare the best options and make an informed decision.

Why Do You Need Insurance?

In India, it is illegal to drive the car in India without the necessary and valid car insurance. Also, getting the insurance coverage for your car is a smart move to protect it from various risks, which are associated with driving it on the road. The primary insurance will cover the expenses of the accident and the third-party legal liability.
The comprehensive car insurance policy ensures the financial protection of the car from any loss or damage which may happen to it during the period of ownership such as -

• Natural Calamities: It includes explosion, fire, self-ignition, rockslide, hailstorm, hurricane, storm, tempest, cyclone, frost, landslide inundation, flood, lightning, earthquake, typhoon.
• Man-Made Calamities: Any activity that involves human interference such as burglary, terrorist activity, strike, malicious act, theft, riot and accident by external means as well as any damage caused to the vehicle during transit by road, rail, inland waterway, lift, elevator or air.
• Roadside Assistance: If you ever stuck with your car at a stranded place due to a breakdown or flat tire probably, you can use the roadside assistance to call and receive help from the nearest garage.
• Cashless Settlement at all the listed garages: If your car has broken down on the highway and you don’t have enough money to pay for the repair services, then these are the situations where the coverage is required. The policyholder will get the cashless repairing service if it is done from any of the network garages.
• Engine Protection Coverage: It covers the damages or leakages caused to the car engine due to an accident. However, this coverage is not available for all the Honda cars.
• Third Party Liability Coverage: It protects the vehicle in case of an accident or collision, where the injury or death has occurred to another person or property due to your fault.
• Personal Accident Coverage (Driver and owner): It protects the life of the insured car's owner in case of an accident.

Honda Assure Car Insurance

Honda Cars India Ltd(HCIL) started 'Honda Assure' as an effort to improve the experience of customers with their Honda cars. This plan ensures the transparent, hassle-free transaction as well as a quick insurance claim settlement. HCIL has set up an online central server which tracks all the transactions and operations. Other highlights of the program are cashless insurance across India, quick policy issuance, add-on covers, quality repairs at Honda dealer workshops, seamless service, re-categorized parts, and instant policy renewal. The Honda Assure car insurance ensures the best quality repairs.

Insurance Partners of Honda Cars

Following are some insurance companies that provide car insurance for Honda cars:

• National General Insurance Company
• Bajaj Allianz General Insurance Company
• Royal Sundaram General Insurance Company
• Iffco Tokio General Insurance Company
• Universal Sompo General Insurance Company (Regional Partner-West).

Types of Insurance Covers

 

• Third-party liability insurance: It protects from the legal liability to the life and property of third-party in an accident. It doesn't provide coverage for the insured vehicle itself. Some insurance companies offer personal accident cover for the owner-driver of the insured car along with third-party liability coverage.
• Comprehensive car insurance - It provides extensive coverage to the car owners as compared to the stand-alone insurance or third-party insurance plan. The coverage under the comprehensive policy includes-
  • Coverage for the losses to the insured car due to accidents, natural calamities, and human-made calamities.
  • Personal accident cover for the car driver.

The comprehensive policy does not provide coverage for:

• Normal wear and tear of the car.
• Consequential losses
• Driving without a valid license.
• Driving after intoxication with drugs/alcohol.
• Usage of the vehicle outside the geographical limits.
• Using the vehicle for hire, racing, and speed testing.
• Electrical/mechanical breakdowns
• Nuclear wars

 

Zero-Depreciation Cover

Honda Car Insurance Claim

To file a claim under the Honda Motor Insurance, you are required to call the insurer at the time of the incident that led to the claim. It is advisable to inform the insurer as soon as possible because most of the insurance companies expect the policyholder to do so within the 48 hours of the incident.
The representative from the insurance company will survey the vehicle and the place and send it to a network garage.
The car of the policyholder will be repaired at the network garage within a short span.
For the cashless claims, the payment will be settled directly between the insurer and the service center. The policyholder will be required to pay a nominal charge that corresponds to the deductibles and depreciation (if applicable).

Honda Car Insurance Policy Renewal Online

Benefits of online renewal are-

• Security - The insurers utilize the security systems that adhere to the global security standards on their online portals. It ensures that the confidential information of the policyholder is secured. It is also found that the fraud incidents are almost negligible, through the online renewal of the motor insurance, unlike the process involves an insurance agent.
• Budget-friendly - Renewing car insurance online is profitable because the insurance provider provides various discounts for online transactions. From the perspective of the insurance company, when the policy is sold online, various cost parameters are removed from the flowchart process. It includes distribution and processing costs. The insurer provides these benefits to the customer in the form of discounts.
• Limited paperwork - The process of online policy renewal doesn't have the troubles of excessive paperwork.
• Comfortable and convenient - The entire process of renewing the policy is quick as the policy get issued instantly.
• Backup of the insurance policy documents - Having an online repository of the policy documentation is beneficial as it can be stashed safely and readily available as and when required.

Honda Car Models Available In India

Car Model	Engine Capacity	Price of Model
a.Honda Brio	Petrol: 1198 cc	Rs.4.66 lakh – Rs.6.75 lakh
b. Honda Amaze	Petrol: 1198cc Diesel: 1498cc	Rs.5.50 lakh – Rs.8.35 lakh
c. Honda All New Jazz	Petrol: 1198cc Diesel: 1498cc	Rs.5.89 lakh – Rs.8.42 lakh
d.Honda City	Petrol: 1497cc Diesel: 1498cc	Rs.8.58 lakh – Rs.13.57 lakh
e. Honda WR-V	Petrol: 1199cc Diesel: 1498cc	Rs.7.67 lakh – Rs.8.89 lakh
f.Honda CR-V	Petrol: 1997cc	Rs.21.13 lakh – Rs.25.13 lakh
g. Honda BR-V	Petrol: 1497cc Diesel: 1498cc	Rs.9.06 lakh - 12,2 lakh