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A brief history of Honda
Matt Hands, VP, Insurance and MoneySense
Headquartered in Tokyo, Japan, Honda Motor Company is one of the largest automobile manufacturers worldwide – here’s how it began.
In 1946, Honda Soichiro founded Honda Technical Research Institute, a company that developed internal-combustion engines. The business was then incorporated as Honda Motor Company in 1948 and began manufacturing motorcycles the following year. By 1963, Honda broke into the car manufacturing industry with the earliest car model being the T360, paving the way for the lightweight, fuel-efficient Honda models known today.
Honda Canada was then founded in 1969, starting off once again by selling motorcycles and power equipment.
In 1973, the Honda Civic was introduced to Candians cross-country, followed by the Honda Accord several years later. The automobile manufacturer later created Acura, a luxury car company while surpassing over 4 million Honda vehicle sales in Canada to date.
Within the last 21 years, the Honda Civic has been the best-selling passenger car nation-wide while other popular vehicles from the company include the Accord and CR-V. The company is especially reputable for its durability and reliability cars while also leading as the top producer of motorcycles globally.
Mandatory insurance for Honda vehicles
Direct compensation property damage (DCPD)
Optional Honda car insurance coverage
Honda insurance endorsements
Suspension of coverage (endorsement 16)
Reinstatement of coverage (endorsement 17)
Loss of use (endorsement 20)
Legal liability for damage to non-owned vehicles (endorsement 27)
Accident forgiveness (endorsement 39)
Replacement cost insurance (endorsement 43)
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Honda car insurance rates by model
The following car insurance rates are calculated using Ratehub’s auto insurance quoter, taking the average of the three lowest premiums offered for five popular Honda models.
Methodology: Each table below outlines monthly and annual rates for a 35-year-old male driver, living in Toronto, Ontario with a clean driving record. The policy includes $1,000,000 in liability coverage and a $1000 deductible each for collision insurance and comprehensive insurance.
Keep in mind that insurance companies offer premiums on a case-to-case basis, depending on the driver’s demographics and driving habits. To find the exact price you’ll be paying to insure your Honda, be sure to compare auto insurance quotes with us.
Model (EX-L 4DR)
Average monthly rate
Average annual rate
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How to get cheap Honda insurance
Compare the market
Auto insurance rates vary greatly between companies – you need to research which insurer will offer the best coverage specific to you.
Bundle your policies
You may get discounts if you bundle insurance plans together, for example, by having your auto and home insurance bundled together with the same auto insurance carrier.
Increase your deductible
The deductible is what you pay when something happens to your Honda, before the insurance company pays the rest. Increasing your deductible can lower your annual premiums – just make sure you can afford it.
Ask about discounts
Many insurers offer discounts to members of professional organizations or affiliation groups – so it pays to ask about discount relationships.
Take a course
Accredited driving courses will not only make you a safer driver, but can also result in discounts from many insurance companies.
Maintain a good driving record
At-fault collisions and driving convictions stay on your insurance record for years and make your rates go way up – if you drive safely, you’ll pay the lowest rates.
Track your driving
With usage-based insurance (UBI) you can earn discounts for driving well. Tracking your own driving online, you can earn discounts by not driving far or often, and on advanced stats like how carefully you brake.
If you pay your premiums up front for the year – or even per half-year – you will usually end up paying less than if you paid monthly.
FAQ: Honda car insurance
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Matt Hands, Business Director of Insurance
With 6+ years of experience at Ratehub.ca, Matt’s focus has been on growing its newest business unit, Insurance. He is a thought leader and a valuable resource to respected publications across Canada. read more
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