Car Insurance 391 views April 13, 2021

An insurance plan for Honda Car protects you against any potential financial losses in case of damage to the four-wheeler. The insurance plan also covers the owner/driver from future uncertainties. So, in case of a mishap, you can get compensation for the damages and thereby protect not only the car but yourself too. There are two types of Honda Insurance available in the market, such as – Third-party Liability Cover and Comprehensive Cover. Read this post further and know more about Honda Car Insurance.

What is Honda Insurance Premium Rate?

The insurance premium of your Honda Car will be calculated according to its insured Declared Value (IDV). The IDV is the maximum amount of compensation that your insurance provider will give you in case of a mishap related to your Honda Car. And the IDV is calculated by deducting the depreciation rate of the Honda car. The depreciation rate of your car will be decided based on its age. The higher the depreciation rate, the lower the IDV, so do the premium amount.

Top Honda Insurance Plans in India

The following are the popular Honda Insurance Plans for your Honda car:

IFFCO Tokio Honda Car Insurance

Purchase Honda Insurance conveniently from IFFCO-Tokio General Insurance Co. Ltd., as it provides you the following benefits –

  1. Access to 4,300+ network garages
  2. Policy activation within minutes
  3. Digital insurance copy for safe storage
  4. Coverage from – Collisions, Theft, Fire, Natural Disaster, Personal Accident, Third-Party Losses
  5. Claim settlement within 4 hours
  6. Free Roadside Assistance
  7. Add-on benefit like – Zero Depreciation, Engine Protection, No Claim Bonus Protection, Return to Invoice Cover

Royal Sundaram Honda Car Insurance

Royal Sundaram General Insurance Co. Limited. offers you Honda Insurance to cover the damages and losses that occur to your car. You’ll get the following benefits under the Royal Sundaram Honda Car Insurance Plan:

  1. Loss or damage occurred to your Honda Car
  2. Unlimited Liability Cover in case of Third-Party death/injury
  3. Cashless Claims
  4. Reload of the Sum Insured
  5. Indemnity cover for third-party property damage up to INR 7.5 lakh
  6. Personal Accident Cover
  7. Claim survey within 4 working hours
  8. Access to 3,300+ network garages
  9. 24X7 Customer Support
  10. Free roadside assistance
  11. 100% Invoice Price
  12. Coverage against – Accidental & External Damage, Fire & Explosion, Riot & Strike, Malicious Act, Burglary, housebreaking/Theft, Landslide, Earthquake, Storm, Flood, Terrorism

Tata AIG Honda Civic Insurance

Under Tata AIG Honda Civic Insurance, you’ll get covers like third-party, own damage, and comprehensive. Your Honda Civic insurance will be dependent on the Insured Declared Value (IDV) of your model as declared by the local Honda dealership. The following are the benefits under this policy:

  1. Simple Claim Process
  2. Roadside Assistance
  3. 7500+ Network Garages
  4. Zero Depreciation Cover
  5. Up to 75% discount on premium payment
  6. Tata AIG Claim Settlement Ratio is 98% for FY19-20

Tata AIG Honda City Insurance

If you purchase the Honda City car and declare its IDV, you can use the Tata AIG EMI calculator to estimate your Honda City insurance premium. Under this plan, Tata AIG provides several add-on covers for all-round protection, such as –

  1. Death benefit cover
  2. Consumables cover
  3. Depreciation reimbursement
  4. Roadside assistance
  5. Daily allowance for the alternate vehicle
  6. Emergency transport
  7. Engine secure
  8. Tyre secure
  9. Key replacement
  10. Loss of personal belongings
  11. Reimbursement of accessory fittings
  12. And return to invoice cover

Note – The Honda City insurance premium will be based on the add-on covers you choose.

Buying Honda City insurance from TATA AIG means you’ll also be eligible for a no-claim bonus (NCB) cover after every claim-free year on insurance renewals, for over five years.

Bajaj Allianz Honda Car Insurance

Bajaj Allianz provides Honda Car Insurance for models – Honda City, Honda Civic and Honda Brio. The insurance company provides you coverage for your four-wheeler from a host of natural and man-made hazards like –

  1. Theft
  2. Burglary
  3. Riot
  4. Strike
  5. Damages arising from any kind of malicious activity

Bajaj Allianz Honda Car Insurance plan also protects you from the financial losses resulting from a road accident, by providing cashless claim settlement at the network garages. However, you can also go for the basic Bajaj Allianz Third Party Liability Only Policy and get coverage for third-party losses. Moreover, you can customize your Honda Car Insurance Policy by adding different add-ons.

HDFC ERGO Honda Car Insurance

HDFC ERGO provides Honda Car Insurance for the top 6 car models such as:

  1. Honda City
  2. Hyundai Xcent
  3. Honda Jazz
  4. Honda Amaze
  5. Honda Brio
  6. Honda WR-V

The key benefits under HDFC ERGO Honda Car Insurance are –

  1. Up to 70% discount on premiums
  2. 7400+ Network Garages
  3. Overnight Car Repair Service
  4. Coverage against – Accidents, Fire & Explosion, Theft, Calamities
  5. Personal Accident up to INR 15 Lakhs
  6. Third-Party Liability Cover

ICICI Lombard Car Insurance

ICICI Lombard provides you Honda car insurance that can help you drive securely and confidently. And with its nationwide network garages, you can get cashless repairs immediately. Benefits of ICICI Lombard Hond car insurance includes –

  1. Cashless repairs at 3,500+ network garages
  2. Roadside assistance
  3. Coverage against loss or damage due to natural calamities
  4. Daily commute allowance if your car is in repair
  5. Third-party liability cover
  6. Personal accident cover
  7. Online policy renewal

Cashless Claim Procedure of Honda Insurance

A cashless claim facility is available for your Honda car under the Honda insurance plan. To avail of the cashless claim facility under your Honda Insurance, you need to follow the instructions shown below –

  1. Intimate the insurer about the damage and loss incurred to your Honda car
  2. Visit the network garage of your insurer and leave your car for repair
  3. The insurance company will inspect the damaged car and approve the claim accordingly
  4. You can get the repair work done within 24 hours depending on your insurer

And in case of cashless repairs, you don’t have to pay from your pocket, as the insurance company will bear the repair expenses on your behalf after confirming the repair invoice issued by the network garage.

Important Notes for Cashless Claim

  1. A surveyor will be sent directly by the insurance company to check the extent of damage caused to your Honda car when you intimate the insurer about the accident.
  2. You should notify the insurer about the car damage immediately after the accident
  3. The insurer will cover the repair of the damage as mentioned in your policy document only

Honda Insurance Add-ons

You can strengthen your Honda car insurance by purchasing add-on covers. These covers are voluntary and can be added at the time of policy purchase or renewal. Here, we have some of the popular add-ons for your Honda car insurance:

  1. Zero Depreciation Cover: This add-on cover helps save Honda car depreciation value during claim settlement, which makes the claim amount significantly higher than the regular Hond Insurance.
  2. Emergency Assistance Cover: Under this add-on cover, you’ll get multiple benefits like minor repairs on-site, lost key assistance, duplicate key issues, tire changes, battery jump starts, fuel tank emptying, towing charges, etc.
  3. Downtime Protection Cover: The insurer will compensate the paid cab expenses while your Honda Car is in repair. So basically, you’ll get a cash allowance benefit for other means of transport for the daily conveyance.

People Also Read