When you buy a new car, paying for it is only part of the process of getting it ready to go on the road. There’s also the matter of insurance, which can involve a car dealership connecting you to a local insurance company. That isn’t the only option on the table, though; a growing number of automakers are opting to offer insurance in-house. And this week, Honda became the latest company to join in this growing trend.
The new company’s name is Honda Insurance Solutions, and it’s a joint venture from Honda and insurance brokerage VIU by HUB. While automotive insurance is at the heart of the new firm’s offerings, that’s not the only type of insurance they’re offering; Honda’s announcement mentions that home insurance is also on the table.
“Insurance is a key touchpoint in the vehicle ownership journey, and we aim to deliver a superior experience tailored to the unique needs of each customer, while promoting safer driving and increased peace of mind on the road,” said American Honda Insurance Solutions president Petar Vucurevic in a statement.
The Honda Prelude Is Returning to the US Market
This time, it’s a hybridIn an article for Autoweek, Mark Vaughan compared Honda’s insurance initiative to similar forays from other automakers. Vaughan points out that there’s one big difference between Honda’s new venture and those of some of its peers: Honda’s will not monitor your driving. The automaker told Autoweek, “We are not providing data to insurers to offer safe driver discounts.”
Given that drivers’ privacy relative to insurance companies has been a concern in the last year and a half, it’s notable to see Honda opt for a somewhat different approach. Will this lead to more Honda drivers opting in to the company’s in-house insurance? We’ll see what comes of it.
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