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Honda Car Insurance Cost

Have you just got one of Honda’s family cars? Or maybe you got their new Jazz model? Either way, getting a car insurance policy is a mandatory requirement in most countries 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 protects 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

1. Roadside Assistance

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

2. Cashless Facility at Network Workshops

A mechanical breakdown can be expensive. If you don’t have the right coverage, you may have to pay high prices for a towing company, the repairs, and the mechanics’ time. This means many people look for ways to reduce the costs so they’re able to afford the repairs. If you are stranded due to the mechanical breakdown of your Honda car and you don’t have enough funds to pay for the repair, you can make use of this facility. The policy facilitates a cashless repair facility in network garages.

3. Engine Protection

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

4. Personal Accident Cover

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

Honda Car Insurance Price

Various factors determine the cost of Honda car insurance. Below given are a few of them:

1. Location of Registration of the Car

The 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 busy roads then it means that you are at a higher risk of accidents, theft, and collisions and so the premium is a bit on the higher side.

2. 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. 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.

3. 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.

4. Type of Coverage

If you are buying basic third-party insurance then it will cost you less than a 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.

5. 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 a ‘great risk’ in the eyes of an insurance company. Hence, the premium for cars with a high cc may be more than those that have a 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.

Ajeet Sharma, the founder of Financegab and a well-known name in the field of financial blogging. Blogging since 2017, he has the expertise and excellent knowledge about personal finance. Financegab is all about personal finance which aims to create awareness among people about personal finance and help them to make smart, well-informed financial decisions.


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