Cheapest 1998 Honda Accord Insurance Rates in 2023
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UPDATED: Jun 1, 2023
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Want the cheapest car insurance rates for your Honda Accord? Sick and tired of scraping the payment together to buy car insurance? You are no different than many other drivers.
Multiple auto insurance companies compete for your insurance dollar, so it can be very hard to choose a company to find the absolute best rates possible.
It is always a good idea to do rate comparisons yearly since insurance rates are usually higher with each renewal. Even if you got the best deal for Accord insurance last year you can probably find a better price now. Block out anything you think you know about car insurance because you’re about to find out the right way to find great coverage at a great price.
If you currently have car insurance, you stand a good chance to be able to lower your premiums substantially using these techniques. Finding affordable coverage is not rocket science. Although consumers need to learn the methods companies use to sell online and apply this information to your search.
Vehicle Insurance Comparison
There are a lot of ways to shop for auto insurance, and some are more efficient than others. You can waste hours driving to insurance agencies in your area, or you can stay home and use the web to accomplish the same thing much quicker.
Many insurance companies belong to an insurance system that allows shoppers to submit one quote, and every company then returns a price quote for coverage. This system prevents you from having to do repetitive form submissions for each company you want a rate for.
To enter your information into the quoting system, click to open in new window.
The single downside to using this type of form is that you can’t choose which carriers to get quotes from. If you prefer to choose from a list of companies to compare prices, we have a listing of companies who write auto insurance in your area. Click to view list.
However you get your quotes, ensure you’re using the exact same coverages and limits on every quote you get. If you have unequal deductibles or liability limits you will not be able to determine which rate is truly the best. Just a small difference in limits may result in a large different in cost. And when comparison shopping, quoting more will improve the odds of getting a better price.
How much can you save with discounts?
Insuring your fleet can be pricey, but there are discounts available that you may not know about. Certain discounts will be triggered automatically at the time of purchase, but lesser-known reductions have to be manually applied before being credited.
- Sign Early and Save – Select companies give a discount for switching to them prior to your current policy expiring. It can save you around 10%.
- Use Seat Belts – Drivers who require all occupants to use a seat belt could save 15% off your PIP or medical payments premium.
- Organization Discounts – Affiliation with a civic or occupational organization could qualify you for a break when shopping for car insurance for Accord insurance.
- E-sign – A handful of insurance companies will give a small break just for signing your application over the internet.
- Federal Employees – Being employed by or retired from a federal job could cut as much as 10% off for Accord insurance with select insurance companies.
- Anti-lock Brakes – Anti-lock brake equipped vehicles are safer to drive and will save you 10% or more.
- Student in College – Kids in college living away from home attending college and don’t have a car may be able to be covered for less.
- Multi-policy Discount – When you combine your home and auto insurance with one insurance company you will save up to 20% off your total premium.
It’s important to note that most discounts do not apply to your bottom line cost. Most only reduce the cost of specific coverages such as medical payments or collision. So even though it sounds like having all the discounts means you get insurance for free, you’re out of luck. Any amount of discount will help reduce the cost of coverage.
Insurance companies that may offer these money-saving discounts are:
It’s a good idea to ask each insurance company what discounts are available to you. Some discounts may not be available everywhere.
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How much car insurance do I need?
When choosing the right insurance coverage for your vehicles, there really is no “best” method to buy coverage. Every insured’s situation is different so your insurance should reflect that These are some specific questions might help in determining whether your personal situation could use an agent’s help.
- Do I really need UM/UIM coverage?
- How much liability coverage do I need in my state?
- At what point should I drop full coverage?
- Can I afford to pay high deductible claims out of pocket?
- Are my friends covered when driving my car?
- Are my friends covered when driving my 1998 Honda Accord?
- Does coverage extend to a rental car in a foreign country?
- Is my camper covered by my car insurance policy?
- Is my dog or cat covered if injured in an accident?
Car insurance coverage information
Learning about specific coverages of your policy helps when choosing appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be difficult to understand and reading a policy is terribly boring. Shown next are the usual coverages available from auto insurance companies.
Coverage for liability – Liability insurance protects you from damage or injury you incur to a person or their property by causing an accident. This insurance protects YOU against other people’s claims. It does not cover your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 25/50/25 which stand for $25,000 bodily injury coverage, $50,000 for the entire accident, and property damage coverage for $25,000. Another option is one limit called combined single limit (CSL) that pays claims from the same limit and claims can be made without the split limit restrictions.
Liability coverage protects against claims like attorney fees, repair costs for stationary objects, pain and suffering and funeral expenses. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as much as you can afford.
Collision coverages – Collision coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.
Collision coverage protects against things such as sideswiping another vehicle, crashing into a building, crashing into a ditch and colliding with a tree. This coverage can be expensive, so consider removing coverage from lower value vehicles. Drivers also have the option to raise the deductible to save money on collision insurance.
Comprehensive coverage (or Other than Collision) – This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for claims like hail damage, hitting a bird, a broken windshield, damage from flooding and hitting a deer. The most you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Insurance for medical payments – Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses for pain medications, chiropractic care and prosthetic devices. They are used in conjunction with a health insurance policy or if you do not have health coverage. Coverage applies to both the driver and occupants and will also cover being hit by a car walking across the street. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage
Uninsured Motorist or Underinsured Motorist insurance – Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists either have no liability insurance or not enough. It can pay for medical payments for you and your occupants and also any damage incurred to your Honda Accord.
Since many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage should not be overlooked. Usually your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.
Frequently Asked Questions
How can I find the cheapest insurance for my 1998 Honda Accord?
To find the cheapest insurance for your 1998 Honda Accord, consider the following steps:
- Shop around: Obtain quotes from multiple insurance companies to compare rates.
- Raise deductibles: Increasing your deductible can lower your premium, but remember to set it at a level you can afford to pay in case of a claim.
- Opt for basic coverage: Consider getting only the mandatory minimum coverage required by your state if your vehicle’s value is low.
- Explore discounts: Inquire about any available discounts, such as good driver discounts, multi-policy discounts, or discounts for safety features on your vehicle.
- Maintain a clean driving record: Safe driving habits can help you qualify for lower rates over time.
Does the age of my 1998 Honda Accord affect insurance rates?
Yes, the age of your vehicle can affect insurance rates. Older vehicles generally have lower values, which can lead to lower insurance premiums. However, it’s important to note that other factors, such as the car’s condition, mileage, and your driving history, can also influence the insurance rates.
What type of coverage should I consider for my 1998 Honda Accord?
The type of coverage you should consider for your 1998 Honda Accord depends on your individual needs and circumstances. However, common coverage options include:
- Liability coverage: This is typically mandatory and covers bodily injury and property damage you may cause to others in an accident.
- Collision coverage: This covers damage to your vehicle in case of a collision, regardless of fault.
- Comprehensive coverage: This covers damage to your vehicle from non-collision incidents, such as theft, vandalism, or natural disasters.
- Uninsured/underinsured motorist coverage: This protects you if you’re involved in an accident with a driver who doesn’t have sufficient insurance coverage.
Are there any specific insurance considerations for older vehicles like the 1998 Honda Accord?
Yes, older vehicles like the 1998 Honda Accord may have specific insurance considerations:
- Actual cash value (ACV): Insurers often use the ACV to determine the value of older vehicles. It takes into account the vehicle’s age, condition, and market value at the time of the claim.
- Limited coverage options: Some insurers may offer limited coverage options for older vehicles, such as excluding certain types of coverage or limiting the payout for repairs.
- Availability of parts: Depending on the availability of parts for the 1998 Honda Accord, repairs may take longer or be more expensive, potentially impacting insurance rates.
Can I get discounts on insurance for my 1998 Honda Accord?
Yes, you may be eligible for various discounts on your 1998 Honda Accord insurance. Common discounts include:
- Good driver discounts: If you have a clean driving record with no accidents or traffic violations, you may qualify for lower rates.
- Multi-policy discounts: Insuring multiple vehicles or bundling your auto insurance with other policies, such as homeowners insurance, can often result in discounts.
- Safety features discounts: If your 1998 Honda Accord has safety features such as anti-lock brakes, airbags, or an anti-theft system, you may be eligible for discounts.
- Low mileage discounts: If you drive fewer miles annually, you may qualify for lower rates as you pose less risk on the road.
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