How Much Does It Costs to Get Honda Car Insurance?

Getting a car insurance policy is a mandatory requirement in India and it is quite a simple task. Even if you are an expert driver, there could be chances that you may face unexpected incidents such as collision, fire, or even death. Opting for the right policy can offer you protection from financial liabilities arising out of those incidents.

Why Honda Car Insurance?

A basic car insurance policy covers only the expenses arising out of personal accidents. A comprehensive car insurance plan ensures that your Honda car is secured in the event of a personal accident as well as damage caused to third parties. It also provides protection during further other events such as:

Natural Catastrophe

Such as fire, explosion, self-ignition, flood, landslide, flood, hailstorm, lightning, typhoon, earthquake, hurricane, storm, cyclone, frost, etc.

Man-Made Disasters

Terrorist attack, theft, communal riot, burglary, strike, accident due to external means and any damage caused during transit through rail, road, waterways, air, or lift.

Benefits of Honda Car Insurance

Roadside Assistance

If in case you are stranded on the road due to engine failure or a tyre puncture, you can take advantage of roadside assistance. You can call up the helpline number and raise a request to help you out. The insurance company will forward your request to a nearest enlisted garage and they will ensure that someone comes to your location.

Cashless Facility at Network Workshops

In an event where you are stranded due to mechanical breakdown of your Honda car and you don’t have enough fund to pay for the repair, you can make use of this facility. The policy facilitates with a cashless repair facility in network garages across India.

Engine Protection

This provides you protection against damage or leakage caused of your Honda car engine due to an accident. However, this cover is only available for some models of Honda cars.

Personal Accident Cover

This cover provides financial protection in case of an injury caused to insured driver of the Honda car.

Honda Car Insurance Price:

There are various factors that determines the cost of honda car insurance. The below given are a few of them:

Location of Registration of the Car

Location of registration of your Honda car plays a key role in determining the premium of your car insurance. For instance, if you live in Metropolitan cities where you find more cars and the busy road then it means that you are at a higher risk of accidents, theft, and collisions and so the premium is a bit on higher side.

Age of the Car

The older your car is, the higher will be your premium due to the wear and tear that the vehicle undergoes. Additionally, this the risk of accidents with an older vehicle elevates. Hence, if you have an old Honda car then you might have to pay a high premium as compared to a new car of the same Honda car model.

Insured Declared Value (IDV)

Insured declared value is nothing but the current value of your car. It is also the maximum sum amount provided by your insurance company in the event of any loss or damage to the vehicle. So, the lower the IDV, the lower your premium will be.

Type of Coverage

If you are buying basic third-party insurance then it will cost you less than comprehensive policy as it only covers damages caused by the insured vehicle to a third-party vehicle. Besides, if you are buying comprehensive insurance with additional add-on covers like zero depreciation, engine cover, etc. then its premium will be high as compared to a basic comprehensive policy.

Cubic Capacity

The size of the engine is measured in cubic capacity (CC), so the higher the cc the more powerful it is in terms of performance, speed, and acceleration. This greater power means that your car can be deemed as ‘great risk’ in the eye of an insurance company. Hence, the premium for cars with high cc may be more than those who have lower cc.

Today there are many insurance providers across the nation. But before you buy one, make sure you compare various policies. In this age of technology, most of the reputed insurance companies provide car insurance policies online, helping you choose the best policy from the comfort of your home.

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About FinanceGAB

Ajeet Sharma is a financial blogger and I am blogging since 2017. Financegab is a personal blog dedicated to personal finance. The main aim of this blog to help people to make well-informed financial decisions.
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