The Honda CR-V remains a highly sought-after premium SUV in the Indian pre-owned car market —
celebrated for its bulletproof i-VTEC reliability, refined ride quality, and robust safety kit. While Honda discontinued the model in India in
late 2020, thousands of CR-Vs continue to ply Indian roads. Whether you are looking to renew your existing policy or have recently purchased a
pre-owned 2.0L Petrol CVT or 1.6L i-DTEC Diesel variant, maintaining valid car insurance is both a legal mandate under the Motor Vehicles Act, 1988,
and vital financial protection for this premium asset. SMC Insurance helps you compare 30+ insurers, choose the right plan for your CR-V and get
an instant policy in minutes — with zero paperwork.
Third-Party Insurance (Mandatory) Third-party car
insurance is the minimum legal requirement under the Motor Vehicles Act, 1988, for every Honda CR-V on Indian roads.
It covers damage, injury, or death caused to a third party in an accident involving your car. It does not cover damage
to your own vehicle. While it carries the lowest premium, it leaves your CR-V —
completely unprotected against accidents, theft, or natural calamities.
Comprehensive Insurance (Recommended) Comprehensive car insurance covers
third-party liability and your own vehicle damage — making it the strongly recommended choice for all Honda CR-V owners.
It protects against accidents, theft, fire, floods, earthquakes and other perils. Because replacing premium assemblies or body
panels on a luxury Honda SUV can involve high out-of-pocket costs, comprehensive coverage ensures you are never left with a large
out-of-pocket repair bill. You can also add optional riders for enhanced protection.
Standalone Own Damage (OD) Policy If you already hold a
valid third-party policy from another insurer, you can purchase a Standalone Own Damage policy separately to
cover repair costs for your Honda CR-V. Standalone OD policies became available following IRDAI regulatory changes,
giving car owners the flexibility to choose their own-damage insurer independently of their TP policy.
Honda CR-V Car Insurance Premium — Used Car Estimates (2026)
Since all Honda CR-V models in India are now pre-owned or older than 5 years, your insurance
premium is determined by the mutually agreed Insured Declared Value (IDV) between you and the insurer, along with your accumulated No Claim Bonus (NCB)
and city of registration. The table below gives indicative premiums for popular legacy CR-V variants registered in Zone A cities (Delhi, Mumbai, Chennai,
Bengaluru, Kolkata, Hyderabad, Pune, Ahmedabad):
Car Variant (Legacy Models)
Engine Capacity / Fuel
Estimated Market IDV (2026)
Approx. Annual Comprehensive Premium (With Zero Dep if applicable)
CR-V 2.0L 2WD Petrol CVT
1997 cc / Petrol
Rs. 11.00 Lakh – Rs. 14.00 Lakh
Rs. 18,500 – Rs. 24,000
CR-V 1.6L 2WD Diesel AT
1597 cc / Diesel
Rs. 12.50 Lakh – Rs. 15.50 Lakh
Rs. 21,000 – Rs. 27,500
CR-V 1.6L AWD Diesel AT
1597 cc / Diesel
Rs. 14.00 Lakh – Rs. 17.50 Lakh
Rs. 23,500 – Rs. 31,000
*Premiums are illustrative estimates for legacy cars registered at Delhi (DL) RTO with a 20-35% NCB applied. Actual premiums vary by registration year, variant,
fuel type, IDV chosen, city, and insurer. Use the quote tool above for your exact price.
IRDAI Third-Party Premium Slabs for Honda Cars
Third-party (TP) premiums for private cars are regulated and notified by the Ministry of Road Transport & Highways (MoRTH)
in consultation with IRDAI. Whether you drive the 1997cc i-VTEC Petrol or the 1597cc i-DTEC Diesel variant, all Honda CR-V models fall strictly
into the 'Above 1500cc' regulatory category. As per the current IRDAI schedules, the base annual third-party premium for this engine slab is fixed
at Rs. 7,897 (exclusive of 18% GST).
Important Regulatory Note: Under IRDAI mandates, all cars with an engine capacity exceeding 1500cc
attract a standard compulsory deductible of Rs. 2,000 per claim. This is a mandatory out-of-pocket amount you must pay during an Own Damage claim
settlement before the insurer covers the rest.
Annual Third-Party Premium (Private Cars)
Engine Capacity
Annual TP Premium
Up to 1000cc
Rs. 2,094
1000cc to 1500cc
Rs. 3,416
Above 1500cc
Rs. 7,897
Honda Models by CC Slab:
CC Slab
Honda Models
Up to 1000cc — Rs. 2,094 TP
None currently in the Honda passenger car lineup
1000cc–1500cc — Rs. 3,416 TP
Honda City, Honda Amaze, Honda Elevate, Honda WR-V, Honda Jazz
Above 1500cc — Rs. 7,897 TP
Honda CR-V, Honda Accord
How IDV Is Calculated for Honda CR-V
The Insured Declared Value (IDV) is the maximum amount your insurer will pay in case of total loss or theft of your Honda CR-V.
For vehicles under 5 years old, IDV is calculated based on the manufacturer's listed selling price minus depreciation, as per IRDAI-prescribed depreciation rates:
Car Age
Standard Depreciation
IDV Retained
Less than 6 months
5%
95%
6 months to 1 year
15%
85%
1 to 2 years
20%
80%
2 to 3 years
30%
70%
3 to 4 years
40%
60%
4 to 5 years
50%
50%
IDV Valuation for Older Honda CR-Vs: For vehicles older than 5 years, the standard IRDAI
fixed depreciation matrix no longer applies automatically. Instead, the Insured Declared Value (IDV) of your Honda CR-V is calculated based on a mutual agreement
between you and the insurance company. This agreement takes into account the current local pre-owned market value of the SUV, its overall mechanical condition,
and odometer mileage. Always avoid choosing an artificially low IDV just to reduce your premium — it leaves you severely under-insured in case of total loss or theft.
Honda CR-V Car Insurance Premium by City
IRDAI classifies Indian cities into Zone A and
Zone B for own-damage (OD) pricing. Zone A cities carry slightly higher premiums due to greater traffic density,
accident frequency and theft rates.
Zone A Cities: Delhi, Mumbai, Chennai, Bengaluru, Kolkata, Hyderabad, Pune, Ahmedabad
Zone B Cities: All other cities and towns in India
Estimated Premium for a 5-Year-Old Honda CR-V 2.0L Petrol CVT:
Zone
Estimated Comprehensive Premium
Zone A (e.g., Delhi, Mumbai)
Rs. 19,500 – Rs. 25,000
Zone B (e.g., Coimbatore, Jaipur)
Rs. 16,000 – Rs. 21,500
Premiums vary further based on insurer, final agreed IDV,
NCB and add-ons selected.
No Claim Bonus (NCB) on Honda CR-V Car Insurance
If you haven't made any claim during a policy year, you earn a No Claim Bonus (NCB) - a discount applied to the own-damage (OD) portion of your premium at renewal.
NCB is one of the most valuable benefits for careful Honda CR-V owners.
Claim-Free Years
NCB Discount
1 year
20%
2 consecutive years
25%
3 consecutive years
35%
4 consecutive years
45%
5 consecutive years
50%
Key NCB Facts:
NCB belongs to the owner, not the car — it transfers when you change insurers or buy a new vehicle.
NCB is lost if you make an own-damage claim during the policy year.
You can protect your accumulated NCB with an NCB Protect Add-on —
especially useful for high-NCB policyholders (45–50%).
Add-on covers for Honda CR-V car insurance
Standard comprehensive insurance can be enhanced with optional add-on covers. The most useful ones for Honda CR-V owners are:
Zero depreciation cover
At the time of a claim, insurers normally deduct depreciation from
parts (plastic, rubber, glass, metal). Zero Dep eliminates this deduction - you receive the full repair or replacement
cost without any depreciation cut. Highly recommended if your selected insurer offers it for your CR-V's specific age group. Visit
SMC Insurance to learn more.
Covers damage to the engine and gearbox caused by water
ingression, hydrostatic lock, or leakage of lubricating oil - events not covered under standard comprehensive policies.
Particularly important for CR-V owners driving in flood-prone areas. Visit SMC Insurance to learn more.
Roadside assistance (RSA)
Provides 24x7 help if your CR-V breaks down anywhere - towing, battery
jump-start, flat tyre assistance, emergency fuel delivery and more. Available from most insurers at a minimal additional premium. Visit
SMC Insurance to learn more.
Key and lock replacement cover
Covers the cost of replacing lost or damaged car keys and locks - a
practical and affordable add-on for urban CR-V owners. Visit SMC Insurance to learn more.
Tyre protection cover
Covers repair or replacement of damaged tyres and tubes due to accidental damage, bulging, or burst -
expenses not covered under standard comprehensive policies.
Consumables cover
Covers the cost of consumables like engine oil, coolant, nuts and bolts, grease and other items usually excluded from
standard claims. Useful for CR-V owners who want maximum claim settlement without deductions.
NCB protect
Allows you to make one own-damage claim in a policy year without
losing your accumulated NCB. Highly recommended for CR-V policyholders with 35-50% NCB.
Get the right add-ons for your Car
Compare quotes from 30+ insurers and choose the add-ons that suit your car, city and budget — in minutes.
Insuring a Discontinued Luxury SUV: Critical Add-ons for the Honda CR-V
Sourcing original spare parts for a discontinued premium vehicle can sometimes involve longer transit times
or specialized sourcing. When updating your policy, certain add-ons transition from 'optional conveniences' to absolute necessities:
Consumables & Spares Cover: Since older premium cars can require unexpected fluid changes
or specific mechanical hardware during engine or suspension overhauls, ensuring consumables are covered saves significant out-of-pocket
maintenance costs.
Zero Depreciation Extension: Many elite insurers allow you to extend your Zero Depreciation
cover up to the 7th or even 10th year of the vehicle's life cycle. Given that replacing original Honda premium headlights, mirrors, or body panels can easily cost tens of
thousands of rupees, keeping a Zero Dep rider active prevents heavy out-of-pocket depreciation deductions (which can hit up to 50% on metal, nylon, and plastic parts for
older vehicles).
What Is Covered And Not Covered Under Honda CR-V Car Insurance?
Covered (Inclusions)
Accidental damage to your Honda CR-V
Theft or total loss of the vehicle
Damage due to fire, explosion, or self-ignition
Damage due to natural calamities — floods, earthquakes, cyclones, storms
Man-made calamities — riots, strikes, terrorism
Third-party bodily injury or death
Third-party property damage
Personal accident cover for the owner-driver (compulsory — Rs. 15 lakh cover)
Transit damage (road, rail, air, inland waterway)
Not Covered (Exclusions)
Normal wear and tear of parts
Mechanical or electrical breakdown
Damage while driving without a valid licence
Damage while driving under the influence of alcohol or drugs
Damage due to war, nuclear risks, or radioactive contamination
Consequential losses
Claims arising from use of vehicle for hire/reward (unless commercial policy)
Depreciation on replaced parts (unless Zero Dep add-on is active)
How to Renew or Buy Honda CR-V Car Insurance Online at SMC
Buying for a Used CR-V:
To renew your current plan or buy coverage for a
newly acquired pre-owned CR-V, follow this quick process:
Enter your registered vehicle number and click on "View Quotes".
Step 4
The upcoming prompts will verify your vehicle details like brand, model, fuel type, legacy variant, manufacturing year and respective RTO.
Step 5
Your existing policy details will be fetched automatically if you are renewing. If you are changing ownership, input the correct previous policy details.
Step 6
SMC will display a list of available renewal plans from partner insurers. You can view plan details like coverage, benefits, inclusions/exclusions, add-ons, and adjust your Insured Declared Value (IDV) to match its current market value.
Step 7
Apply your accumulated NCB discount (up to 50%) and select essential add-ons like Engine Protector or Consumables Cover.
Step 8
Once you select the plan you want, click the button labeled "Buy Now" or "Renew Now".
Step 9
Fill out or confirm your personal and vehicle details as required.
Step 10
Make the payment via the secure online gateway. No manual vehicle inspection is required for timely online renewals. After payment confirmation, you will receive your policy document electronically (through email or WhatsApp) immediately.
Throughout the process, you have the option to contact the SMC Team for any live support you need.
Renewing Existing Insurance:
To renew your insurance, simply follow a similar process. Enter your registration number above, and your existing policy details will be fetched automatically. Review your current insurer’s renewal quote, compare plans from other insurers to find a better deal, apply your NCB discount, select the add-ons you need, and complete
the payment to get instant renewal. No inspection is required for timely renewals.
Enter your registration number above.
Your existing policy details are fetched automatically.
Review your current insurer's renewal quote.
Compare plans from other insurers to find a better deal.
Apply your NCB discount and select the add-ons you need.
Complete the payment to get instant renewal — no inspection required for timely renewals.
Why Buy Honda CR-V Car Insurance Through SMC?
30+ Insurers Compared: Get quotes from HDFC ERGO, Tata
AIG, Bajaj General, ICICI Lombard, New India, SBI General and more in one place.
100% Online, Zero Paperwork: Renew in under 2 minutes right from your phone or laptop.
Dedicated Claim Support: SMC's in-house claims team assists you from intimation to settlement.
4.1/5 Google Rating: Verified customer reviews reflect our service quality.
Instant Policy Issuance: Policy document sent to your email and WhatsApp immediately on payment.
Summing Up
Choosing the right insurance for your Honda
CR-V ensures that your premium SUV stays protected on every journey. Whether you opt for a basic
third-party policy to meet minimum regulatory mandates or a comprehensive renewal plan with the right
age-appropriate add-ons to secure your CR-V's full market value, SMC Insurance makes the process effortless.
Compare quotes from over 30 leading insurers, leverage your accumulated No Claim Bonus and secure instant
digital protection for your Honda CR-V today — with zero paperwork and complete peace of mind.
Disclaimer: The information provided on this platform is intended for general awareness and educational purposes. While every effort is made to ensure accuracy, some details may change with policy updates, regulatory revisions, or insurer-specific modifications. Readers should verify current terms and conditions directly with relevant insurers or through professional consultation before making any decision.
All views and analyses presented are based on publicly available data, internal research, and other sources considered reliable at the time of writing. These do not constitute professional advice, recommendations, or guarantees of any product's performance. Readers are encouraged to assess the information independently and seek qualified guidance suited to their individual requirements. Customers are advised to review official sales brochures, policy documents, and disclosures before proceeding with any purchase or commitment.
I have purchased a new vehicle and was looking for the car insurance with comprehensive coverage. SMC Website was quick to assist me with the premium amount and the payment process was easy. Happy with their services.
Payal kaur Chandigarh, April 28, 2025
Smooth Process
I purchased my car insurance from SMC, and it has truly been worth it. When my car caused third-party damage, I simply shared the photos and videos with them. Thanks to Sachin, the customer executive, my insurer settled the claim within just a week. Really satisfied with the service!
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Yes, under the Motor Vehicles Act, 1988, every Honda CR-V on Indian roads must hold a valid third-party liability insurance policy. Driving without insurance carries a fine of up to Rs. 2,000 for the first offence and Rs. 4,000 for subsequent violations. Given that the CR-V is a premium vehicle with luxury parts, comprehensive insurance with appropriate add-ons is essential financial protection.
The legal baseline is a Third-Party (TP) liability policy, which must be renewed annually for your Honda CR-V. However, because the CR-V is a premium segment SUV with expensive replacement assemblies, relying solely on a basic TP policy leaves your own vehicle completely uncovered against accidental damage, vandalism, fire, or theft. An annual Comprehensive Plan or a Standalone Own Damage policy is highly recommended.
For legacy models older than 5 years like the Honda CR-V, the IDV is not calculated using a fixed standard depreciation percentage. Instead, it is decided based on a mutual agreement between you and the insurance provider, taking into account the vehicle’s age, overall mechanical wear, and current pre-owned market valuation in India. Always choose a realistic, healthy IDV to avoid heavy financial losses in case of theft or total loss.
Yes, NCB is fully transferable across insurers at renewal. You will need an NCB certificate or your previous renewal notice to carry it forward. Since NCB belongs to the owner - not the vehicle - it transfers even if you sell your CR-V and buy a new car. On a premium SUV like the CR-V, a 50% NCB after five claim-free years can mean a saving of thousands of rupees on your annual OD premium alone.
Yes, standard comprehensive insurance covers damage from floods, waterlogging, storms, and cyclones. However, engine damage from hydrostatic lock - water entering the engine while driving through deep water - is excluded from standard policies. For the Honda CR-V, which features a sophisticated powertrain, Engine Protector cover is highly recommended. It covers expensive engine and gearbox damage that would otherwise be entirely out of pocket.
A lapse of more than 90 days requires a pre-acceptance inspection of your Honda CR-V before the insurer will reinstate coverage. You also permanently lose all accumulated NCB - a significant financial loss given the CR-V's higher premium bracket. For lapses under 90 days, most insurers will renew without inspection. Always renew before expiry to protect your benefits.
Return to Invoice (RTI) cover pays out the original showroom purchase value of a car in the event of a total loss or theft. However, under standard Indian insurance guidelines, RTI cover is restricted to vehicles that are less than 3 to 5 years old. Since local Honda CR-V variants were discontinued in late 2020, most insurers will no longer offer the RTI add-on for these models. Instead, focus on securing an accurate, market-reflective Insured Declared Value (IDV) during renewal.
Every Honda CR-V insurance policy includes a Compulsory Personal Accident (CPA) cover of Rs.
15 lakh for the owner-driver. This covers accidental death or permanent total disability while driving.
Optional co-passenger PA cover can be added as a rider. The CPA premium is a standardized annual addition
bundled into your policy—it can only be waived if you already hold a separate standalone personal
accident policy meeting regulatory criteria.
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