The Honda HR-V is a stylish premium crossover hatchback with Honda's acclaimed reliability and an elevated ride stance —
making it one of the most widely insured vehicles in its segment across India. Whether you own the base S MT or the top-spec ZX CVT,
having the right car insurance is both a legal requirement under the Motor Vehicles Act, 1988, and essential financial protection.
SMC Insurance helps you compare 30+ insurers, choose the right plan for your HR-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 HR-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 HR-V — even the entry-level S MT —
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 HR-V owners.
It protects against accidents, theft, fire, floods, earthquakes and other perils. Given that premium crossovers incur
significant out-of-pocket repair costs, comprehensive coverage ensures you are never left with a large financial burden.
You can also add optional riders for enhanced protection.
Standalone Own Damage (OD) Policy If you already hold a valid long-term third-party policy from another insurer, you can purchase a Standalone Own Damage policy separately to cover repair costs for your Honda HR-V. Standalone OD policies give car owners the flexibility to choose their own-damage insurer independently of their TP policy.
Honda HR-V Car Insurance Premium — Model-Wise Price Table
The insurance premium for your Honda HR-V depends on the variant, fuel type, IDV and the city of registration. The table below gives indicative premiums for popular HR-V variants for cars registered in
Zone A cities (Delhi, Mumbai, Chennai, Bengaluru, Kolkata, Hyderabad, Pune, Ahmedabad).
Car Model
Ex-Showroom Price (Approx.)
IDV (Approx.)
Zero Dep Add-on
Comprehensive Premium (Bundled)
HR-V S MT
Rs. 11.50 Lakh
Rs. 10.92 Lakh
Rs. 2,600 approx.
Rs. 21,500 onwards
HR-V V MT
Rs. 12.80 Lakh
Rs. 12.16 Lakh
Rs. 2,900 approx.
Rs. 23,800 onwards
HR-V VX MT
Rs. 14.20 Lakh
Rs. 13.49 Lakh
Rs. 3,300 approx.
Rs. 26,200 onwards
HR-V ZX MT
Rs. 15.50 Lakh
Rs. 14.72 Lakh
Rs. 3,700 approx.
Rs. 28,900 onwards
HR-V V CVT
Rs. 14.10 Lakh
Rs. 13.39 Lakh
Rs. 3,200 approx.
Rs. 25,800 onwards
HR-V ZX CVT
Rs. 16.90 Lakh
Rs. 16.05 Lakh
Rs. 4,100 approx.
Rs. 31,400 onwards
Premiums are indicative estimates for brand-new cars registered at Delhi (DL) RTO. 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. The baseline annual TP rates applicable for the 2026-2027 cycle are:
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
The Honda HR-V's 1498cc engine falls in the 1000cc-1500cc slab,
meaning an annual TP premium of Rs. 3,416 (exclusive of 18% GST).
Honda Models by CC Slab:
CC Slab
Honda Models
Up to 1000cc — Rs. 2,094 TP
None currently in Honda's active passenger car lineup
1000cc–1500cc — Rs. 3,416 TP
Honda HR-V (1498cc), Honda City (1498cc), Honda Amaze, Honda Elevate, Honda Jazz
Above 1500cc — Rs. 7,897 TP
Honda CR-V
2026 Regulatory Highlight: IRDAI Standard Compulsory Deductibles
Under updated IRDAI Car Insurance Guidelines, standard compulsory deductibles have been simplified across the board during claim settlement. For private passenger cars like the Honda HR-V with an engine capacity up to 1500cc, a mandatory standard deductible of Rs. 1,000 applies to every own-damage claim. For vehicles exceeding 1500cc, this deductible is fixed at Rs. 2,000. This is a mandatory out-of-pocket structural fee that cannot be waived by add-ons.
How IDV Is Calculated for Honda HR-V
The Insured Declared Value (IDV) is the maximum amount your insurer will pay in case of total loss or theft of your Honda HR-V. IDV is calculated based on the ex-showroom
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%
*For cars older than 5 years, IDV is agreed upon mutually between the insurer and the policyholder based on the vehicle's market condition.
Honda HR-V Car Insurance Premium by City
IRDAI structures pricing based on geographic risk profiles,
dividing 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 3-Year-Old Honda HR-V VX MT Petrol:
Zone
Estimated Comprehensive Premium
Zone A (e.g., Delhi, Mumbai)
Rs. 13,000 – Rs. 17,500
Zone B (e.g., Coimbatore, Jaipur)
Rs. 11,200 – Rs. 14,800
No Claim Bonus (NCB) on Honda HR-V Car Insurance
If you haven't made any claim during a policy year, you earn a No Claim Bonus (NCB)—a discount applied directly to the own-damage (OD) portion of your premium at renewal.
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 strictly to the owner, not the car — it transfers seamlessly when you change insurers or buy a new vehicle.
NCB resets to 0% if you make an own-damage claim during the policy year without specific protections.
You can safeguard your hard-earned discount (up to 50%) by adding an NCB Protect cover to your plan.
Add-on covers for Honda HR-V car insurance
Standard comprehensive insurance can be enhanced with optional add-on covers.
The most valuable choices for Honda HR-V owners include:
Zero Depreciation Cover (Zero Dep):
Eliminates structural deductions for depreciation on plastic, rubber, glass, and metal parts during a claim. Highly recommended for any Honda HR-V under 5 years old.
Engine protector cover
Safeguards against expensive engine and gearbox repairs resulting from water ingression, hydrostatic lock, or oil leakage—events explicitly excluded under baseline policies.
Return to invoice (RTI) cover
In the event of a total loss or theft, RTI bridges the gap to ensure you receive the original on-road invoice value of your car rather than the depreciated IDV.
Roadside assistance (RSA)
Provides 24x7 emergency on-road help including towing, flat tyre replacement, fuel delivery, and battery jump-starts.
Key and lock replacement cover
Reimburses the steep costs of replacing lost or damaged advanced electronic/smart car keys and locks.
Tyre protection cover
Covers the repair or replacement costs of tyres and tubes damaged due to accidental bursts, bulges, or cuts.
Consumables cover
Insures miscellaneous items like engine oil, gear oil, coolants, nuts, and bolts that are otherwise excluded from regular insurance payouts.
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.
On the homepage, click the insurance category you want - "Car Insurance".
Step 3
Enter your registered vehicle number and click on "View Quotes".
Step 4
The upcoming prompts will ask you for your vehicle details like brand, model, fuel type, variant and respective RTO.
Step 5
Once given, you can check the policy start and end date, confirm NCB details and view quotes from various insurers.
Step 6
On submission, SMC will display a list of available plans or quotes from partner insurers. You can view plan details like coverage, benefits, inclusions/exclusions, add-ons (if available), insured declared value (for vehicles), etc.
Step 7
Compare the available options and consider things like third-party vs comprehensive, add-ons (e.g. zero-depreciation, roadside assistance) as per your needs.
Step 8
Once you select the plan you want, click the button labeled "Buy Now".
Step 9
Fill out your personal details as required (owner name, address, contact, driving licence/RTO info). Ensure all details are accurate.
Step 10
Make the payment via the online gateway. After payment confirmation you will receive your policy document electronically (through email or website account).
Step 11
Once everything is processed, your insurance policy becomes active. You may store a digital copy in DigiLocker or mParivahan — it is legally valid during traffic checks and at the time of a claim.
Throughout the buying process, you have the option to contact the SMC Team for any kind of support you need.
Renewing Existing Insurance:
To renew insurance you will have to follow a similar process as well:
Enter your HR-V's registration plate or previous policy number into the renewal tool.
The engine automatically pulls your existing vehicle configurations.
Review your renewal notice, adjust your IDV slider, and update your declared NCB tier.
Select your preferred add-on riders.
Process the premium via the online gateway for an instant, hassle-free policy renewal.
Why Buy Honda HR-V Car Insurance Through SMC?
30+ Insurers Compared: Get quotes from HDFC ERGO, Tata AIG, Bajaj Allianz, ICICI Lombard, New India, SBI General and more in one place.
100% Online, Zero Paperwork: Buy or renew in under 2 minutes from your phone or laptop.
Dedicated Claim Support: SMC's in-house claims team assists you from intimation to garage 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 ensures that your Honda HR-V stays fully protected on every journey. Whether you choose a statutory third-party framework or deploy an end-to-end comprehensive protection shield with Zero Depreciation and Engine Protection riders, SMC Insurance streamlines your digital policy issuance. Compare real-time market rates, stack your No Claim Bonus benefits, and establish complete peace of mind within minutes.
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!
Rajnish Singh Puna, April 16, 2025
Excellent Support
This is the best insurance company as they have assisted me well while buying the car insurance policy. Kudos to SMC!
Yes, under the Motor Vehicles Act, 1988, having at least a valid third-party liability policy is mandatory for all cars on public roads. Driving an uninsured car attracts a penalty of Rs. 2,000 and/or up to 3 months imprisonment for the first offense, escalating to Rs. 4,000 for subsequent violations.
For brand-new private cars registered in India, the IRDAI mandates a bundled policy structure consisting of a 1-year Own Damage (OD) cover combined with a 3-year Third-Party (TP) cover, or at minimum, a long-term 3-year independent third-party policy.
Your vehicle's Insured Declared Value (IDV) is calculated as the manufacturer's listed ex-showroom price minus standard age-related depreciation rules specified by the IRDAI. For example, an HR-V variant with an ex-showroom tag of Rs. 12.80 Lakh will feature an initial 1-year depreciated IDV baseline of roughly Rs. 10.88 Lakh (at a 15% depreciation hit).
Yes, the No Claim Bonus is completely tied to the vehicle owner rather than the physical car itself. You can easily port your accrued renewal discount tier (ranging from 20% up to 50%) across different insurance brands by submitting your previous year's policy schedule or an official NCB transfer certificate.
Standard comprehensive car insurance excludes internal damage caused by hydrostatic lock (cranking the car while stuck on waterlogged roads). To cover internal engine component repair costs during severe monsoons, you must explicitly include an Engine Protector Cover add-on rider.
If your policy lapses for more than 90 days, any built-up No Claim Bonus (NCB) balances permanently reset to zero. Furthermore, a break-in period requires a mandatory physical or digital video inspection of the car before a fresh policy can be issued.
During typical accident claims, standard policies deduct depreciation on replacement items (50% on
rubber/plastic parts, 30% on fiber components). A Zero Depreciation add-on removes these age-related deductions,
leaving you liable only for the standard compulsory deductible and minor administrative fees.
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