Honda Car Insurance

About Honda

Honda Motor Company Ltd. was founded by the engineer Honda Soichiro who started a research centre to build small but efficient internal combustion engines in Hamamatsu Japan in 1946. In 1948 it was incorporated into the Honda Motor Company in the year 1948. Honda first came to India in 1995 as part of a joint venture called Honda Siel Car India Ltd. Over the years Honda has come to be extremely successful in India and is now well known for their cutting edge technology and futuristic cars.

Honda Car Insurance

When purchasing a Honda car make sure to also purchase car insurance for it. Insurance provides a layer of protection for both the car and the owner-driver from uncertainties. In the case of a mishap, the insurance will provide compensation for the damages and thereby protect not only the car but also its owner by giving them financial stability in times of crisis. Safeguarding your Honda car from certainties is of the utmost importance. It is not only an expensive purchase for everyone but also an integral part of our everyday lives. With an own-damage cover, you can get compensation for a variety of situations such as road accidents, vandalism, natural and manmade calamities.

Moreover, having a third party insurance policy for every car driving on Indian roads including your Honda car is compulsory. The third-party insurance will cover third party liabilities including bodily injury, death and property damage. Make sure to purchase this policy, if caught without it you can be fined Rs. 2,000 and/or be imprisoned for up to 3 months. The insurance premium of your car is calculated according to the Insured Declared Value of your car. The IDV is the maximum amount of compensation your insurance provider will provide you in case of a mishap. The IDV is calculated by deducting the depreciation rate and exclusions from the manufacturer’s selling price for the Honda car. The depreciation rate is decided according to the age of the car. The higher the depreciation rate, the lower the IDV and the insurance premium.

To strengthen the Honda car insurance policy further you can purchase add-on covers. These covers are voluntary and allow you to pick and choose to make sure the policy fits your needs. Here are some of the add-ons that may be a useful addition to your Honda car insurance:

• Zero Depreciation Cover: The cover mitigates the depreciation rate of the Honda car during claim settlement. This makes the claim amount significantly higher. The add-on is available for cars that are less than five years old and can only be used a limited number of times in a year.
• GAP Value Cover: In the vent of a theft or total loss this add-on cover will cover the amount left after compensating for your honda car.
• Tyre Damage Cover: This add-on will cover any damages to the tyre of your Honda car which is otherwise not covered by the insurance policy.

Car Insurance Renewal Process for Honda Cars

Honda car insurance renewal is a quick, easy & hassle-free process when it is done online. Every policyholder is required to renew the car insurance plan every year to carry on with enjoying the offerings and advantages of a car insurance plan. To keep your Honda car secured, you need to keep it insured first for which you should renew its car insurance policy every year on time without fail. On this note, here the steps to follow to renew your Honda car insurance plan online:

Step 1: Visit the website of the InsuranceDekho and click on the ‘Car’ option.

Step 2: Enter the Registration Number of your Honda car to proceed. Choose the fuel type and variant of your Honda car to move further. If you do not know the registration number of your Honda car, then you should click on the ‘Don't know your car number?’ option and select your car’s brand, model, fuel type, variant, registration year, registration city and RTO, to continue.

Step 3: Enter the expiry date of your previous car insurance cover and your previous car insurance company’s name as well. In addition to this, tell as if you have made any car insurance claim during the last policy year or not and then click on the ‘Continue’ tab to proceed.

Step 4: Enter your personal details including your name, mobile number and duration of the car insurance for which you want to buy it and click on the ‘Submit and Get Quotes’ tab.

Step 5: You will get the car insurance policy premium quotes offered by various insurance firms on your screen. Compare and choose the car insurance plan quotes which suits you the best as per your budget and requirements. You can also choose and add some add-on covers in your policy.

Step 6: Click on the ‘Buy Now’ link and confirm all the entered details before initiating the payment process for the renewal of Honda car insurance policy. You can pay by using your debit or credit card, digital wallets and net banking option. After the payment, the car insurance policy document will be issued instantly and will be shared with you at your registered Email ID.

Car Insurance Cashless Garage Network for Honda Cars

(*Claim Settlement Ratio For FY 2018-2019 As Per IBAI’s General Insurance Claim Insights Handbook For Policyholders - 4th Edition)

Claim Cashless Car Insurance For Honda Cars

Cashless car insurance is a great option for the policyholders to get their Honda car repaired without paying any fee at the network garage of their insurer. To avail this facility, they need to intimate their insurers about the damage and loss incurred by their car immediately after an accident or mishap. With this process, you can get the repair work done for your car free of cost as your insurance company will bear the repair expenses on your behalf after confirming the repair invoice.

With the cashless car insurance claim, you need not pay any amount of repair after an accident. Also, this claim process holds lesser formalities to go through as compared to the reimbursement claim process, which speeds up the claim process. Under this facility, a surveyor is sent directly by the insurance company to gauge the extent of damage immediately after the accident that also brings the pace and transparency in the process. The insurance firms get the best garages under their network due to which enables you to get the best possible repair service for your Honda car.

Renew Expired Policy for Honda Cars

Every car insurance policy is supposed to be renewed before its expiry day to continue to avail it. Failure in doing so will make the insurance policy get lapsed. After this, your insurance company would not be liable to settle your claims for the damages sustained by your Honda car, all the insurance benefits gained by you during the course of the policy’s term will cease to exist and you will not be able to claim for a No Claim Bonus (NCB) discount with an insurance company. In such a situation, you can avail grace period during which the car insurance policy can be renewed without losing any of your policy benefits.

If your car insurance policy gets expired, you could attract some penalties or fines for its renewal. Also in the meanwhile, driving your car with an inactive car insurance policy can also lead you into trouble for not complying with legal requirements. However, every insurance company offers a grace period to renew the expired car insurance policy which is of 90 days but varies from insurance company to insurance company. You can renew the plan in the grace period via offline as well as online method, but the latter is also recommended. In order to renew your plan online, you should visit your insurer’s website, enter your policy details, attach the relevant documents and make payment.