Honda Two Wheeler Insurance
Honda started its India operations in the year 1999; it is a 100% subsidiary of Honda Motor Company Ltd Japan. It has fast achieved strides in the Indian market and is the second largest two-wheeler manufacturer in the country. Honda provides some of the most popular and affordable bikes to Indian customers. However, it is important to buy two-wheeler insurance for your bike in India. The idea is to protect the interest of a third-party and the bike owner/driver in case of a road emergency.
5 Popular Bike Models with Honda Insurance Cost
Honda Bike Model
Estimated IDV ( Rs)
Estimated Annual Premium for Comprehensive Honda Bike Insurance
AVIATOR DLX (110 CC)
Rs 135 onwards
CB Shine Electric Start
Rs 139 onwards
CB TWISTER ELECTRIC START
Rs 130 onwards
Rs 104 onwards
Rs 292 onwards
(The above premium table is for reference purposes only. Your Honda bike Insurance cost may vary based on zero depreciation, IDV, and various other factors)
Benefits and features of Honda Two-wheeler Insurance
While it is imperative to buy a two-wheeler insurance policy for your Honda bike, here are some benefits and features that make it all the more interesting:
- You can track your Honda motorcycle insurance claim status online
- Furthermore, Honda two wheeler insurance policy offers additional benefits like legal liability cover for a paid driver, loss of vehicle accessories cover, personal accident liability cover and coverage up to INR 7.5 lakhs against third-party property damage.
- You can earn discounts on premium such as No-claim-bonus for all the claim-free years. This discount is applicable while renewing the policy.
- Moreover, you can conveniently buy Honda two wheeler insurance online using net banking, debit or credit, card.
Inclusions of Honda Two Wheeler Insurance
As it is mandatory to buy a minimum of third-party liability insurance if you own a motorcycle, scooter or any other vehicle. However, it should not be considered only as a legal compulsion, as it offers protection against several road incidences, which otherwise can land you in deep trouble.
Third-party insurance is a compulsion to ensure the safety of other people. However, it is recommended for you to buy a comprehensive two wheeler insurance policy for your Honda bike or scooter. Here’s a quick rundown of the coverage provided in both types of two-wheeler insurance policies-
Third-party Liability Two-wheeler Insurance Policy - It is essential to buy liability coverage according to the Motor Vehicle Act. It indemnifies you in case of any legal liabilities arising out of an accident caused by your motorcycle/scooter.
On the contrary, it will not cover the damages caused to your own bike/scooter.
Broadly, it covers death/ injuries caused to a third-person and damage to a third-party property (compensation up to INR 7.5 lakhs) from your vehicle.
Comprehensive Two-wheeler Package Insurance - It insures you against any financial and legal liabilities arising out of any third-party damage. Moreover, it covers any damage/loss that is caused to you and your vehicle, including the co-passengers.
This type of policy is designed to ensure that you are fully covered against all the risks such as loss/damage caused by -
- An accident ( External damage only)
- Fire, lightning, explosion, and self-ignition
- Theft, and Housebreaking
- Natural disasters like landslide, earthquake etc.
- Terrorist activities
- Strikes and riots
Furthermore, Honda motorcycle insurance compensates the damages being sustained while transporting the two-wheeler from one place to another via road, air, lift, rail and inland waterways
Exclusions of Honda Two Wheeler Insurance
Claims that are raised under the following circumstances shall not be accepted by the insurer-
- Any damage/loss that is consequential
- Wear and tear of the two-wheeler
- Breakdown due to mechanical or electrical failure
- Damage to your bike’s tyres unless the body parts of the bike are also damaged. In that case, you might get a compensation of 50 percent of the replacement cost.
- Driving while the driver is intoxicated with drugs or alcohol
- Nuclear radiations or weapons causing damage to your bike/scooter
How to Compare and Buy Honda Two-wheeler Insurance Online?
It is imperative to compare your two-wheeler insurance. You can start by comparing the coverage provided in a liability-only policy and comprehensive package policy. The former will cover damages caused by your bike/scooter and the latter will cover both own damages and third-party damages. A policy can be compared at the time of purchase of renewal.
You must check all the policy features, coverage, premium cost and then make the decision. The premium will vary based on the make, model, and the city of registration, age, coverage, and IDV of your vehicle.
However, the procedure to buy Honda Two Wheeler Insurance is as described below-
- Visit the Policybazaar website and look for Honda two-wheeler insurance or go the insurer’s site
- They will ask all the bike details including the date of registration, make, model, city of registration, RTO, and your contact details
- A survey will be conducted to assess the damage
- You can get the premium estimates from any of their computerized offices
- You can obtain your policy documents directly or through a registered post
Honda Two Wheeler Renewal Online
The online procedure for Honda Bike Insurance Renewal on Policybazaar’s site is elucidated below -
- If you already have a Honda two-wheeler insurance policy, it can be renewed online through Policy bazaar’s site
- Fill your policy number along with the displayed code on their portal
- Click on renew policy
- You will be redirected t to the payment page. Once you have made the decision, you can make the payment online.
- Once the payment is confirmed, you can take a print out of the receipt
Claim Procedure for Honda Two Wheeler Insurance
The company follows a speedy, transparent and smooth claim process. You can file a claim for Honda 2 wheeler insurance policy at any time of the day.
For claim assistance, the insurer will ask for the following details-
- Your Honda two wheeler insurance policy number
- Contact details of the policyholder
- Time and date of the incident
- Name of the driver and DL details
- An appropriate location to carry out the survey of your damaged two-wheeler
- Estimation of loss or a brief description of the accident
- Upon filing a claim, a representative will be assigned to process your claim further
- For future reference, a claim reference number will be given to you.
- Claim approval/ confirmation will be messaged on the registered phone number
- After the vehicle is surveyed, and the claim is approved, you will receive the claim status.
Documents Required to Claim Honda Two Wheeler Insurance
Following are the documents that the insured will have to provide when making a claim:
- Duly filled Claim Form
- Motor Insurance Policy with schedule and endorsement/ clause
- Copy of Driving License.
- Certificate of Registration.
- Police FIR
- Copy of the plan and receipt of payment of premium
- Fitness certificate( Commercial Vehicles only)
A two-wheeler insurance policy ensures you an adequate coverage against unforeseen circumstances that may arise while driving your bike or scooter. A third-party policy is mandatory; however, it is suggested that you buy a comprehensive plan to enjoy a peaceful ride.
FAQs for Honda Two Wheeler Insurance
Ans: Yes, you need to have a minimum of third-party liability insurance as per the Motor Vehicle Act, which makes it mandatory for all the cars and two-wheelers plying on the roads to have motor insurance.
Ans: Yes, it is a simple process. All you need to do is go to Policybazaar’s portal and click on the renew button. You will be required to provide your policy number and you will be directed to the payment page. Once the payment is made, you can download the receipt.
Ans: The policy does not cover claims arising out of -
- Reckless driving after consuming alcohol or drugs
- Consequential loss/damage
- Wear & tear of the bike/scooter
- Damage caused by terrorist acts or nuclear radiations
- For details, you can refer to the policy wordings
Ans: You can check out the following add-on covers for your Honda bike:
- Personal accident cover
- Depreciation Reimbursement
- NCB Protection
- Key Replacement
- Enhanced Personal Accident Cover & Hospital Daily Cash Cover for -Owner Driver, Passengers & Paid Driver
- Additional Roadside Assistance
- Basic Roadside Assistance
Ans: Yes, third-party bike insurance is mandatory in India for both car and two-wheeler owners.
Latest News about Honda Two Wheeler
Honda has recently announced the launch of 2018 CB Shine SP which is priced at Rs. 64, 518 for its disc variant and Rs. 62,032 for the drum variant. A CBS variant of Honda Shine SP is also on the platter and can be bought for Rs. 66, 508. To give things a proper position, the older variant of CB Shine SP is now being retailed at Rs. 59,901.
Apart from the minor changes in the price of the bike, the mechanism of the bike has been kept unchanged. Talking about the tweaks and updates, Honda 2018 CB Shine SP now has extended shrouds along with a revised tank design and new body decals.
Apart from all the other basics, the bike now includes a clock and service indicator in its semi-digital instrument. Honda 2018 CB Shine SP (base variant) is set to butt heads with 2018 Bajaj Discover 125, which is being sold for Rs 53,171 (ex. Delhi showroom), and the drum brake variant is contending against Hero Glamour which is priced at Rs 59,946 (ex. Delhi Showroom).
However, according to some experts, for this price rise of over Rs.2000, Honda should have incorporated a few more features, especially when Bajaj Discover 125 produces the same amount of power and also has an add-on benefit of LED DRL at a more economical price.