So you own a Honda bike? Hats off just to that!
Planning to renew the insurance of your good old Honda Activa scooter or looking for the best two-wheeler insurance for your brand new Honda Goldwing bike – you’ve landed just the right place.
Let’s dive into the two-wheeler insurance basics for your Honda bike.
- Understanding Honda Insurance
- Why you Should Insure your Honda Bike?
- Good-to-Have Insurance Add-ons for Honda Bikes
- Things a Two-wheeler Insurance Covers For Any Honda Bike
- Things a Two-wheeler Insurance Does Not Cover For Any Honda Bike
- Questions you might ask about Honda Insurance
- How can I renew my Honda Insurance online?
- The two wheeler insurance of my Honda CBR150R Sports bike has already expired. Is vehicle inspection mandatory?
- Is an online insurance policy valid for two-wheelers?
- Single-year or Mutli-year: what’s better in case of Honda insurance?
- How do I get no-claim bonus at the time of renewal?
- How much more do I need to pay for comprehensive two-wheeler insurance?
- Questions you might ask about Honda Insurance
- Models Manufactured by Honda: Which One Do You Ride?
Understanding Honda Insurance
Must-know Coverage for Your Honda Bike
You can get following kinds of insurance policies for your Honda Bike:
|Third-Party Bike Insurance||Comprehensive Bike Insurance|
|Only covers third-party injuries and damages, and not to your own vehicle.||Gives third-party policy + coverage for losses and damages to your own bike|
|Mandatory by Indian Motors Act.||It’s not mandatory to buy coverage for your own bike’s damages, but then we all know the state of Indian roads. And, who doesn’t love their Honda bike?|
|Multi-year insurance available||Multi-year insurance available|
Why you Should Insure your Honda Bike?
Honda bikes are great on Indian roads, which is why there are so many of them. But with a two-wheeler insurance, you can:
- Be sure that you’re rightfully compensated if your Honda bike was stolen or damaged beyond repairs.
- Get coverage for a third-party if your bike caused an accident and the third-party was injured or their property damaged.
- Get comprehensive coverage for your own two-wheeler, in case damages were caused to your vehicle.
- Be sure that no traffic policeman heavily fines you for not having an insurance policy for your bike. Strictly, say no to bribery!
Good-to-Have Insurance Add-ons for Honda Bikes
Zero Depreciation Cover:
Irrespective of the model of Honda bike you have, depreciation is applicable on all kinds of metal, plastic, and fiber glass parts. In case of repairs / replacement claims, you would have to pay for the depreciation cost. However, with zero depreciation add-on, you can get that covered.
Return to Invoice Cover:
So that if your bike was stolen or completely damaged, the claim settlement amount from the insurance company is not as little as the current market value of your bike. Instead, it is as much as the invoice value of your bike. This is even when in case your bike was two years old, with a 20 percent lower current market value.
A lot of insurance companies offer specific add-on coverage at an addition premium cost. Depending on the model of Honda bike you have, do enquire with your insurer about these coverage options. Key replacement, roadside assistance, personal accident cover of passengers could be a few such options.
Things a Two-wheeler Insurance Covers For Any Honda Bike
- Personal accident coverage for owner-driver
- Accident-related damages to your bike
- Damages caused during a natural calamity like flood or storm
- Loss because of fire, explosions
- Compensation for Stolen Bike
Things a Two-wheeler Insurance Does Not Cover For Any Honda Bike
- Wear and tear caused over the years [including flat tyres]
- Losses caused when the bike was driven without a driving license
- Damages caused when the bike was being driven under the influence of alcohol
- Driving outside the geographical limits
- If the bike is used for anything beyond it’s legal purpose [racing, illegal activities, organized crime]
Questions you might ask about Honda Insurance
How can I renew my Honda Insurance online?
Your Honda Insurance Policy can be renewed online very seamlessly through your insurer’s online portal or your broker’s portal.
- If you have already selected an insurance company you can go to the insurer’s portal and renew it online by filling in the details.
- All you need to fill are your bike details (like Vehicle Registration Number, Engine/Chasis Number), your previous insurance details and your contact details. Once done, you can then renew the policy online by paying via net banking, wallet or credit/debit card.
- Also, it is not necessary to continue your insurance policy with the same insurance company as the previous year. You can easily purchase insurance policy from a different insurer, as long as you are aware of the benefits and features being offered.
No. Inspection is not mandatory even if the insurance for your bike has already expired. It is sometimes done at the discretion of the insurer but only if the insurance has lapsed for more than 6 months or so.
Is an online insurance policy valid for two-wheelers?
Of course it is valid. You get a valid bike insurance policy by renewing the policy online. All you need to do is fill in your previous policy bike details and get a valid insurance policy emailed to your registered email id. A printout of that would suffice.
Single-year or Mutli-year: what’s better in case of Honda insurance?
Multi-year is always better as you get a better rate and your insurance policy is valid for 2 to 3 years. Thus, there is no renewal headache every year. Also, since you pay upfront, there is a huge discount on the premium.
How do I get no-claim bonus at the time of renewal?
If you have not claimed in the preceding year, then you can avail a No-Claim Bonus at the time of your next renewal. Keep one thing in mind: your bike insurance renewal has to happen before the previous policy expires. At the time of renewal of your Two-Wheeler Insurance Policy, you need to mention your last NCB and whether you have made any claim in the last year or not. You get discount on the own-damage premium as per the NCB grid provided by IRDA.
|All vehicle Type NCB Grid||% of discount on own damage premium|
|No Claim in the last 1 year||20%|
|No Claim in the last 2 consecutive years||25%|
|No Claim in the last 3 consecutive years||35%|
|No Claim in the last 4 consecutive years||45%|
|No Claim in the last 5 consecutive years||50%|
How much more do I need to pay for comprehensive two-wheeler insurance?
The premium for a simple third party only insurance is fixed by the IRDAI. A comprehensive insurance policy includes own-damage premium too. The own-damage premium varies slightly from one insurance company to another and is dependent on a lot of factors, including your claims history and the age of your bike. The overall premium for comprehensive insurance is marginally higher, but highly recommended if you are looking for complete coverage for your Honda bike.
Also, read: Two Wheeler Insurance – Add On Covers
Models Manufactured by Honda: Which One Do You Ride?
|Brand Name||Variants||Engine CC||Mileage(kmpl)||BHP||Wt. (kgs)||Price Range(in Rs)|
|Honda Activa 4G||Standard||109.2||60||8||108||50,200 to 53,312|
|Honda Activa 4G||4G||110||60||8||108||50,300 to 53,419|
|Honda Navi||Off-Road||109.19||60||7.8||101||39,600 to 42,055|
|Honda Navi||Standard||109.19||60||7.8||101||39,700 to 42,161|
|Honda Navi||Chrome||109.19||60||7.8||101||44,700 to 47,471|
|Honda Navi||Adventure||109.19||60||7.8||101||48,200 to 51,188|
|Honda Shine||Drum Self and Alloy||124.7||65||10.57||118||56,000 to 59,472|
|Honda Shine||Disc Self and Alloy||124.7||65||10.57||118||58,300 to 61,915|
|Honda Shine||CBS||124.7||65||10.57||123||61,200 to 64,994|
|Honda Dio||DLX||109.2||60||8||105||48,600 to 51,613|
|Honda CB Unicorn||Standard||562||62||13.14||146||69,400 to 73,703|
|Honda Livo||Drum Self and Alloy||109.19||74||8.2||111||53,700 to 57,029|
|Honda Livo||Disc Self and Alloy||109.19||74||8.2||111||56,200 to 59,684|
|Honda Activa 125||Drum Self and Cast||124.9||60||8.6||110||59,600 to 63,295|
|Honda Activa 125||Alloy Drum||124.9||60||8.6||110||58,900 to 62,552|
|Honda Activa 125||Disc Self and Cast||124.9||60||8.6||110||61,300 to 65,101|
|Honda CBR 1000RR||Repsol||999||18||175.6||211||15,46,000 to 16,41,852|
|Honda CBR 1000RR||White||999||18||175.6||211||15,46,000 to 16,41,852|
|Honda CBR 1000RR||Black||999||18||175.6||211||15,96,000 to 16,94,952|
|Honda CBR 1000RR||CBR1000RR||999||18||104.5||210||15,96,000 to 16,94,952|
|Honda CBR 1000RR||Fireblade Special Edition||999||18||104.5||210||18,00,000 to 19,11,600|
|Honda Activa i||Standard||109.19||66||8||103||46,900 to 49,808|
|Honda CB Shine SP||Drum Self and Alloy||124.73||65||10.57||118||60,900 to 64,676|
|Honda CB Shine SP||Disc Self and Alloy||124.73||65||10.57||118||63,400 to 67,331|
|Honda CB Shine SP||CBS||124.73||65||10.57||118||65,400 to 69,455|
|Honda Aviator||Standard||109.19||60||8||109||56,400 to 59,897|
|Honda CBR 250 R||Standard||249.6||29||26.15||163||1,61,000 to 1,70,982|
|Honda CBR 150 R||Standard||149.4||38||18.28||138||1,22,000 to 1,29,564|
|Honda CB Unicorn 160||BS-IV||162.71||62||14.5||140||73,500 to 78,057|
|Honda Dream Yuga||Drum Self and Alloy||109.19||72||8.25||108||51,700 to 54,905|
|Honda Hornet 160 R||CBS||162.71||60||15.6||142||85,100 to 90,376|
|Honda Dream Neo||Drum Self and Alloy||109.19||74||8.25||107||49,800 to 52,888|
|Honda CBR 650 F||Standard||648.7||21||85.2||215||7,30,000 to 7,75,260|
|Honda CD 110 Dream||Kick Drum and Alloy||109.19||74||8.25||105||44,700 to 47,471|
|Honda CD 110 Dream||Self Drum and Alloy||109.19||74||8.25||105||46,900 to 49,808|
|Honda CB 1000R||Standard||998||17||123.3||222||11,82,000 to 12,55,284|
|Honda CB 1000R||ABS||998||17||123.3||222||13,27,000 to 14,09,274|
|Honda VT||Standard||1312||20||56.9||308||14,00,000 to 14,86,800|
|Honda Goldwing||Audio Comfort||1832||18.42||116.6||413||28,50,000 to 30,26,700|
|Honda Goldwing||Airbag||1832||18.42||116.6||413||31,50,000 to 33,45,300|