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Insuring Your Honda

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Since 1959, Honda has been the world’s largest motorcycle manufacturer, as well as the world’s largest manufacturer of internal combustion engines measured by volume. They have produced more than 14 million internal combustion engines each year, and are the second-largest Japanese automobile manufacturer in 2001. Honda was the eighth largest automobile manufacturer in the world in 2015. But, Honda’s origins go back much farther.

 

A Glance Into Honda’s History

Honda was founded by Soichiro Honda, who had an interest in automobiles. He worked as a mechanic at the Art Shokai garage, where he tuned cars and entered them in races. In 1937, with financing from his acquaintance Kato Shichiro, Honda founded Tokai Seiki (Eastern Sea Precision Machine Company) to make piston rings working out of the Art Shokai garage.

After some initial failures, Tokai Seiki won a contract to supply piston rings to Toyota, but unfortunately, would lose the contract due to the poor quality of their products. After attending engineering school (without graduating) and visiting factories around Japan to better understand Toyota’s quality control processes, by 1941 Honda was able to mass-produce piston rings acceptable to Toyota, using an automated process that could employ even unskilled wartime laborers.

In 1949, Honda launched their original designed and engineered motorcycle, which Mr. Honda appropriately named the “Dream” D-type, the first Honda to go by that name. From there, they grew exponentially and by 1964 they had become the worlds largest motorcycle manufacturer.

The first production automobile from Honda was the T360 mini pick-up truck, which went on sale in August 1963. Powered by a small 356-cc straight-4 gasoline engine, it was classified under the cheaper “Kei” car tax bracket. The first production car from Honda was the S500 sports car, which followed the T360 into production in October 1963. Its chain-driven rear wheels pointed to Honda’s motorcycle origins.

Over the next few decades, Honda would work to expand its product line and expand operations and exports to numerous countries around the world. They became the first Japanese automobile manufacturer to release a dedicated luxury brand, Acura, in 1986. In 1991 they introduced the Honda NSX supercar, the first all-aluminum monocoque vehicle that incorporated a mid-engine V6 with variable-valve timing.

Aside from their core automobile and motorcycle businesses, Honda also manufactures garden equipment, marine engines, personal watercraft and power generators, and other products. Since 1986, Honda has been involved with artificial intelligence/robotics research and released their ASIMO robot in 2000. They have also ventured into aerospace with the establishment of GE Honda Aero Engines in 2004 and the Honda HA-420 HondaJet, which began production in 2012. Honda has three joint-ventures in China (Honda China, Dongfeng Honda, and Guangqi Honda).

In 2013, Honda invested about 5.7% (U.S. $6.8 billion) of its revenues in research and development. They also became the first Japanese automaker to be a net exporter from the United States.

Insurance Costs

Honda offers something for every driver. The brand manufactures top sellers across multiple vehicle types, including mid-size sedans like the Accord and Civic and larger vehicles like the CR-V and Ridgeline.

Honda car insurance is substantially more affordable than average. Annual Honda auto insurance costs total can start as low as $800 per year, nearly 30% less than the national average for all makes, depending on your location, driving record, make and model, and other factors. Among newer Honda models, the Fit, CR-V, and HR-V are the cheapest to insure, while the Accord Hybrid, and of course the Acura is the most expensive, starting at around $1,800 per year. Keep in mind good driver discounts may apply, and low-mileage drivers will also save on costs.

Honda Theft Risk

Unfortunately, Honda has a little bit of an issue it faces, with the undesirable reputation as the top most-stolen car in the U.S. In 2017, the Honda Civic was the most targeted car in the U.S. with just over 45,000 reported stolen. The Honda Accord came a close second with over 43,700 thefts. The top-5 was rounded off by Ford Pickups (35,105), Chevrolet Pickups (30,058) and the Toyota Camry (17,278). Even though the figures may seem like grim news for Honda drivers, the vast majority of the Civics and Accords stolen were older model vehicles with the most targeted years 1998 and 1997 respectively.

Vehicle theft can lead to economic hardship, especially if it is not properly insured. The NICB has advised drivers to keep their four “layers of protection” in mind. These include basic common sense such as locking the vehicle and taking the keys. It also helps to have a visible or audible warning device. The same goes for an an immobilizer which prevents thieves from getting the engine up and running. Their final recommendation is fitting a tracking device which emits a signal to the police or a monitoring station, which can prove crucial in helping authorities recover a stolen vehicle.

Don’t let this issue turn you away from owning a Honda.  While theft can be an issue, Honda vehicles are very well priced and offer top safety features and technologies, which can offset worries of higher premiums. Be sure to discuss these issues with a United Agencies representative. They are trained experts and can help ensure the best coverage and price for your specific needs.

Honda Top Safety Ratings

Honda vehicles have continuously received top safety awards year after year, which can help reduce insurance rates. The cars must receive a “good” rating in all categories of testing: high-speed front and side crash tests, a rollover test, and evaluations of seat/head restraints for protection against neck injuries in rear impact collisions. If you are seeking out a new insurance policy, don’t hesitate to reach out United Agencies right away for a free quote.

 

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