Honda Honda Accord Insurance Rates
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UPDATED: Mar 19, 2020
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Looking for the cheapest insurance rates for your Honda Accord? Saving money on insurance is always nearly impossible for consumers new to comparison shopping online. There are so many options that it can turn into a big hassle to locate the lowest price.
Smart consumers take time to check insurance prices periodically due to the fact that insurance rates tend to go up over time. Despite the fact that you may have had the lowest rates for Accord insurance six months ago you can probably find a better price now. Block out anything you think you know about insurance because we’re going to demonstrate how to use online quotes to reduce your cost while improving coverage.
Factors determining your Honda Accord insurance premium
An important part of buying insurance is that you know the factors that go into determining car insurance rates. When you know what positively or negatively impacts premium levels enables informed choices that could result in better car insurance rates.
Listed below are a few of the “ingredients” car insurance companies consider when setting premiums.
- Rural vs Urban Areas – Being located in small towns and rural areas can be a good thing when it comes to car insurance. Drivers who live in large cities regularly have much more traffic and longer commute times. Fewer people means fewer accidents and a lower car theft rate.
- Small claims can cost you – Companies provide better rates to insureds who do not file claims often. If you are a frequent claim filer, you can expect either a policy non-renewal or much higher rates. Your insurance policy is designed for the bigger claims that can’t be paid out-of-pocket.
- How’s your driving record? – Drivers with clean records tend to pay less for car insurance compared to drivers with tickets. Only having one citation may increase your cost twenty percent or more. Drivers with flagrant tickets such as hit and run, DWI or reckless driving convictions are required to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to keep their license.
- Bump up deductibles to save – Deductibles for physical damage define the amount you are willing to pay if you file a covered claim. Physical damage coverage, termed comprehensive and collision coverage on your policy, is used to repair damage to your car. A few examples of covered claims are running into the backend of another car, collision with an animal, and rolling your vehicle. The more money you have to pay, the less your company will charge you for insurance for Accord insurance.
- Rates may be lower depending on your job – Occupations like doctors, social workers and stock brokers are shown to have the highest rates because of high stress and long work days. On the other hand, occupations like pilots, students and retirees pay the least for Accord insurance.
- Higher safety ratings means cheaper insurance – Safer cars are cheaper to insure. Safer cars result in less severe injuries and any reduction in injury severity translates into savings for insurance companies and more competitive rates for policyholders. If the Honda Accord has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website it may be receiving lower rates.
Pay less for 2000 Honda Accord insurance
Car insurance companies don’t always publicize every available discount very well, so here is a list some of the more common and also the lesser-known savings tricks you should be using.
- Good Students Pay Less – A discount for being a good student can earn a discount of 20% or more. This discount can apply up until you turn 25.
- Multiple Policy Discount – If you have multiple policies with one insurance company you may earn at least 10% off all policies.
- College Student – Kids in college who are attending college and do not have a car can receive lower rates.
- Drivers Education – Make teen driver coverage more affordable by requiring them to successfully complete driver’s ed class in high school.
- No Charge for an Accident – Certain companies allow you one accident without raising rates so long as you haven’t had any claims for a set time period.
- No Accidents – Drivers with accident-free driving histories can earn big discounts compared to frequent claim filers.
Drivers should understand that most discount credits are not given to the overall cost of the policy. Most cut specific coverage prices like liability and collision coverage. Just because it seems like it’s possible to get free car insurance, you’re out of luck.
For a list of insurance companies with the best insurance coverage discounts, click here to view.
Do drivers who switch really save $393 a year?
Insurance coverage companies such as Allstate and Progressive continually stream ads on television and other media. They all seem to have a common claim of big savings after switching to their company. How can each company make the same claim? It’s all in the numbers.
Insurance companies have a preferred profile for the type of customer that makes them money. A good example of a preferred risk could be between 25 and 40, has no prior claims, and chooses high deductibles. A customer who matches those parameters receives the best rates and as a result will probably save a lot of money.
Consumers who don’t qualify for this ideal profile must pay a more expensive rate and this can result in business not being written. The ads say “drivers who switch” not “everyone that quotes” save that much. That is how companies can truthfully claim big savings. This illustrates why it is so important to compare many company’s rates. It’s not possible to predict which insurance companies will provide you with the cheapest Honda Accord insurance rates.
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Tailor your coverage to you
When buying adequate coverage, there really is not a one size fits all plan. Everyone’s situation is a little different.
Here are some questions about coverages that can aid in determining if you might need an agent’s assistance.
- Is upholstery damage covered by car insurance?
- How can I force my company to pay a claim?
- Am I covered if my car is in a flood?
- Do I have newly-aquired coverage?
- Is a blown tire covered by insurance?
- How many claims can I have before being canceled?
- Am I covered by my employer’s commercial auto policy when driving my personal car for business?
If you’re not sure about those questions, you may need to chat with an agent. To find lower rates from a local agent, simply complete this short form.
Auto insurance coverage information
Having a good grasp of your policy can be of help when determining the best coverages at the best deductibles and correct limits. Policy terminology can be confusing and reading a policy is terribly boring.
Comprehensive car insurance
This covers damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for claims like rock chips in glass, hail damage and hitting a bird. The highest amount a car insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Coverage for medical expenses
Personal Injury Protection (PIP) and medical payments coverage kick in for expenses like funeral costs, EMT expenses and chiropractic care. They can be used to fill the gap from your health insurance plan or if there is no health insurance coverage. They cover all vehicle occupants and also covers being hit by a car walking across the street. PIP coverage is not an option in every state and may carry a deductible
Coverage for uninsured or underinsured drivers
This provides protection when other motorists are uninsured or don’t have enough coverage. Covered claims include injuries sustained by your vehicle’s occupants and damage to your Honda Accord.
Since many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is very important.
Collision coverage pays for damage to your Accord from colliding with another car or object. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for things such as damaging your car on a curb, colliding with another moving vehicle and sideswiping another vehicle. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to raise the deductible in order to get cheaper collision rates.
Liability car insurance
Liability coverage will cover injuries or damage you cause to other people or property that is your fault. It protects you from claims by other people, and does not provide coverage for your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 50/100/50 that translate to a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property.
Liability insurance covers claims such as loss of income, repair costs for stationary objects, medical expenses, legal defense fees and emergency aid. The amount of liability coverage you purchase is your choice, but consider buying higher limits if possible.
Summing up your car insurance search
As you go through the steps to switch your coverage, do not buy lower coverage limits just to save a few bucks. There are many occasions where someone dropped full coverage only to discover later they didn’t have enough coverage. Your strategy should be to buy the best coverage you can find at a price you can afford, not the least amount of coverage.
We just presented quite a bit of information on how to get a better price on 2000 Honda Accord insurance. The key concept to understand is the more rate quotes you have, the better your chances of lowering your rates. Consumers could even find that the most savings is with a small mutual company.
Low-cost insurance is possible both online and also from your neighborhood agents, and you should be comparing both to have the best rate selection. Some insurance companies may not provide online price quotes and most of the time these smaller companies sell through independent agents.
More detailed car insurance information can be read in the articles below:
- Event Data Recorders FAQ (iihs.org)
- Who Has Cheap Phoenix Car Insurance Rates for a Honda Accord? (QuotePhoenix.com)
- Think You’re a Safe Driver? (State Farm)
- What is Covered by GAP Insurance? (Allstate)
- Vehicle Insurance in the U.S. (Wikipedia)
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