Thinking of buying a Honda? Here’s all you need to know about its insurance costs

Honda vehicles have earned a good reputation in the Philippines, thanks to their unmatched reliability, cutting-edge technology, and fuel efficiency. Whether a driver is navigating the bustling streets of Metro Manila or embarking on a road trip through the countryside, owning a Honda is a commitment to quality and performance.

Here is a list of some popular Honda models available in the Philippines -

• Honda Brio - A subcompact hatch known for its fuel efficiency & practicality
• Honda City - One of the best-selling sedans in the country that is a blend of style, comfort, & performance
• Honda Civic - A sports sedan that is a combination of power & elegance
• Honda CR-V - A versatile SUV suitable for urban and off-road adventures
• Honda Accord - A premium sedan known for its luxury features & advanced technology

However, with the ownership of a Honda comes the responsibility of securing comprehensive insurance coverage that not only protects the car but also ensures peace of mind.

We here at Carmudi have created a guide that explores the essential aspects of Honda car insurance, tailored to each popular model, and helps you make an informed decision to safeguard your investment.

Why is it essential to insure Honda cars?

Car insurance is crucial for every car owner, and this holds for Honda vehicles as well. Given the value of these cars, having the right insurance coverage ensures financial protection in case of accidents, theft, or natural disasters. The right insurance policy can cover the costs of repairs, medical expenses, and even provide compensation if your car is stolen or damaged beyond repair.

Honda car insurance coverage

When it comes to insuring a Honda, there are several key coverages to consider:

• Comprehensive coverage: This type of policy covers damage to your vehicle from accidents, theft, fire, vandalism, and natural disasters.
• Third-Party Liability: This mandatory coverage protects you from legal liabilities in case you cause damage to another person's property or vehicle.
• Personal accident coverage: This provides financial assistance for medical expenses in case of injuries sustained in an accident.
• Acts of nature coverage: Given the frequency of typhoons and floods in the Philippines, this coverage is essential for Honda owners.
• Roadside assistance: This coverage offers emergency support services like towing, flat tire change, and fuel delivery.

All these options enable car owners to choose coverage that best suits their needs and risk factors, ensuring they are protected against various potential incidents on the road.

Also Read: Compulsory Third-Party Liability Insurance (CTPL) vs. Comprehensive Insurance: What's best for you

Honda models overview: Price, features, and insurance

Honda Brio

Price: Starts from PHP 735,000

Estimated annual insurance cost: PHP 13,383

A compact, affordable hatchback ideal for urban driving. The Brio’s small size makes it highly maneuverable, while its fuel efficiency is a major selling point for budget-conscious drivers. Despite its compact nature, it offers a spacious interior and essential safety features, making it an excellent choice for first-time car owners.

Safety features: Dual front airbags, Anti-lock Braking System (ABS) with Electronic Brake-force Distribution (EBD), and child safety locks.

Recommended coverage

• Comprehensive coverage: It will provide protection against damages from accidents, theft, and natural disasters.
• Third-party liability: It will cover damages caused to another vehicle or property.
• Acts of nature: It is crucial coverage considering the frequent typhoons in the Philippines.
• Personal accident coverage: It will provide financial assistance for medical expenses in case of injuries.

Honda Civic

Price: Starts from PHP 1,545,000

Estimated annual insurance cost: PHP 29,057

The Honda Civic is a sporty sedan known for its powerful performance and cutting-edge design. With advanced safety features and a tech-rich interior, the Civic is ideal for those who value both style and substance. Its insurance premiums are higher, reflecting its premium status and the extensive coverage options available.

Safety features: Multiple airbags, ABS, EBD, VSA, HSA, and LaneWatch camera.

Recommended coverage

• Total loss coverage: It will provide full vehicle replacement in case of total loss due to severe accidents or theft.
• Personal accident rider: This extended coverage offers financial protection from injuries and illnesses sustained whilst riding to the passengers.
• Custom parts coverage: It ensures custom modifications and upgrades are covered.
• Comprehensive coverage: It includes protection against vandalism, theft, and damage from natural disasters.

Honda City

Price: Starts from PHP 973,000

Estimated annual insurance cost: PHP 15,854

The Honda City is a stylish and practical sedan that’s perfect for both daily commuting and longer trips. It features a refined interior, an advanced infotainment system, and strong fuel economy. The City is well-regarded for its smooth handling and ample cabin space, making it a popular choice for families and professionals alike.

Safety features: ABS, EBD, Vehicle Stability Assist (VSA), Hill Start Assist (HSA), dual front airbags.

Recommended coverage

• Roadside assistance: This coverage offers 24/7 support in case of car breakdowns.
• Zero depreciation: This one ensures full reimbursement without factoring in vehicle depreciation.
• Glass protection: It will cover damage to windshields and windows.
• Flood protection: This one is essential coverage given the city’s flood-prone areas.

Honda CR-V

Price: Starts from PHP 1,763,000

Estimated annual insurance cost: PHP 31,368

The Honda CR-V is a versatile SUV that combines comfort with off-road capability. It’s perfect for families and adventure-seekers, offering a spacious interior, advanced safety features, and reliable performance both on and off the road. The CR-V’s insurance reflects its value and the comprehensive coverage required to protect it fully.

Safety features: ABS, EBD, VSA, HSA, Multi-angle rearview camera, Advanced Compatibility Engineering (ACE) body structure.

Recommended coverage

• Comprehensive protection: It will offer extensive coverage against accidents, natural disasters, and theft.
• Off-road protection: This one is a specialized coverage for off-road damages.
• Glass & windshield coverage: It will provide additional protection to large SUVs like CR-Vs that are prone to road debris damage.
• Acts of Nature: It offers coverage for damages caused by floods, earthquakes, and typhoons.

Honda Accord

Price: Starts from PHP 2,350,000

Estimated annual insurance cost: PHP 40,347

The Honda Accord is the epitome of luxury and performance in the Honda lineup. With cutting-edge technology, a spacious and elegant interior, and top-tier safety features, the Accord is designed for those who seek a high-end driving experience. Given its premium status, the insurance for the Accord is more comprehensive, reflecting its higher value and the advanced coverage options available.

Safety features: Honda Sensing suite, ABS, EBD, VSA, adaptive cruise control, collision mitigation braking system, lane-keeping assist.

Recommended coverage

• Luxury car coverage: It offers specialized protection to high-value vehicles.
• Extended warranty insurance: This coverage extends factory warranties to cover repairs and replacements.
• Personal accident & medical payments: It is a high coverage for drivers and passengers.
• Comprehensive roadside assistance: It offers premium services like towing, emergency fuel delivery, and lockout assistance.

Disclaimer: The figures mentioned above are tentative and absolute figures may vary at the time of policy purchase.

Is Honda car insurance expensive?

The cost of Honda car insurance in the Philippines varies depending on the model, trim, driver’s profile, and the type of coverage chosen. Generally, insuring a Honda is reasonably priced, especially when considering the brand's strong safety features and high resale value.

Tips to choose an appropriate car insurance for your Honda

Choosing the right car insurance for your Honda involves comparing different policies and understanding what each one offers. Here are some tips:

• Compare quotes: Use online tools to compare insurance quotes from various providers.
• Check coverage options: Ensure the policy includes comprehensive coverage, third-party liability, and Acts of Nature coverage.
• Consider add-ons: Look for additional coverages like roadside assistance or personal accident coverage.
• Read the fine print: Understand the terms and conditions of the policy, including exclusions and deductibles.
• Consult an insurance broker: An insurance broker can help you find the best policy tailored to your needs.

Bottom line

Owning a Honda in the Philippines means enjoying the benefits of reliability, innovation, and safety. However, it also requires a solid insurance plan tailored to your specific model. By understanding the features, safety aspects, and insurance options for each Honda model, one can ensure that your car—and your peace of mind—is fully protected.

Also Read: Driving habits that insurance companies prefer