2002 Honda S2000 Insurance Quotes – 8 Discounts for Best Rates

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: Apr 11, 2022

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Want better car insurance rates for your Honda S2000? Scraping up a payment for overpriced Honda S2000 insurance can empty your checking account and make it impossible to meet ends. Shopping your coverage around is an intelligent way to tighten up your finances.
Many auto insurance companies contend for your hard-earned dollar, so it’s not easy to compare every insurance company and uncover the best rates.
Consumers need to price shop coverage every six months since insurance rates often change. Just because you had the lowest price for S2000 insurance six months ago, there is a good chance you can find better rates now. Forget anything you know (or think you know) about car insurance because I will let you in on the secrets to one of the best ways to buy coverages while reducing your premium correctly.
Finding affordable coverage is not rocket science. If you currently have a car insurance policy, you will most likely be able to cut costs considerably using these tips. But consumers need to learn how companies price insurance differently and take advantage of how the system works.

Know All the Discounts Honda S2000 Car Insurance

The price of auto insurance can be rather high, but you may find discounts that can drop the cost substantially. Certain discounts will be triggered automatically when you complete a quote, but some may not be applied and must be manually applied before getting the savings.

  • Defensive Driver – Completing a driver safety course could earn you a 5% discount and easily recoup the cost of the course
  • Save over 55 – Older drivers may qualify for better insurance rates for S2000 insurance
  • Employee of Federal Government – Being employed by or retired from a federal job can earn a discount up to 10% for S2000 insurance with select insurance companies
  • Discount for New Cars – Putting insurance coverage on a new car can save up to 30% due to better safety requirements for new cars
  • Student Driver Training – Have your child enroll in driver’s education
  • Auto/Life Discount – Select insurance companies reward you with a break if you buy a life insurance policy
  • Payment Method – If paying your policy premium upfront instead of monthly or quarterly installments, you may reduce your total bill
  • Anti-lock Brake System – Vehicles equipped with ABS or steering control are safer to drive and qualify for as much as a 10% discount

It’s important to note that most of the big markdowns will not be given the whole policy. Most cut the price of certain insurance coverages like liability and collision coverage. It seems like you could get a free insurance policy, but it doesn’t work that way. But all discounts will help reduce the amount you have to pay.

For a list of insurance companies with discount insurance rates, click here.

How to Compare Auto Insurance Rates

To find the best auto insurance prices, there are several ways of comparing rates from local auto insurance companies. The recommended way to find the lowest 2002 Honda S2000 rates is to use the internet to compare rates. This is very easy and can be done in just a few minutes using one of these methods.

The single most time-saving way consumers can make multiple comparisons is to use a rate comparison form like this one. This method eliminates the need for separate forms for each company. One form submission will get you price quotes instantly.

A more difficult way to obtain and compare quotes online is to take the time to go to each company’s website to complete a price quote. For example, let’s assume you want to compare Farmers, Safeco, and Liberty Mutual rates. You need to spend time on each company’s site to input your insurance information to get rate quotes, so the first method is quicker. To view a list of companies in your area, click here.

The least efficient way of getting rate comparisons is to spend time driving to and from local insurance agencies. The internet can eliminate the need for a local agent unless you want the professional advice that only a licensed agent can provide. It is possible to compare shop your insurance online but buy from a local insurance agent, and you’ll learn how to do that later.

Which method you use is up to you, but make sure you compare the same information on every quote. If you are comparing differing limits, you won’t be able to determine the best price for your Honda S2000. Slightly different coverages can make a big price difference. And when comparison shopping, having more price comparisons helps you find the best-offered rates.

How do I know if I need professional advice?

There is no perfect coverage plan when buying the right insurance coverage for your personal vehicles. Every situation is different, so your insurance should reflect that. For example, these questions may help highlight if your situation would benefit from professional advice.

  • Does my policy cover my teen driver if they drive my company car?
  • When do I need to add a new car to my policy?
  • Can I afford to pay high deductible claims out of pocket?
  • Should I buy full coverage?
  • Do all my vehicles need collision coverage?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • Is other people’s property covered if stolen from my vehicle?
  • Is my trailer covered?
  • When should I buy a commercial auto policy?

If you don’t know the answers to these questions, then you may want to think about talking to a licensed agent. If you don’t have a local agent, complete this form, or you can also visit this page to select a carrier.

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The Truth About Car Insurance Ads

Insurance providers like State Farm and Allstate consistently run ads on television and other media. They all make an identical promise that you’ll save big if you change to their company. How do they all make almost identical claims?

All the different companies can use profiling for the driver that earns them a profit. For instance, a profitable customer could be between 40 and 55, is a homeowner, and has great credit. A customer who fits that profile will qualify for the lowest rates and most likely save when switching.

Drivers who don’t measure up to this ideal profile will be charged a more expensive rate, resulting in the customer not buying. The ad wording is “customers who switch” but not “drivers who get quotes” save that much. That’s the way insurance companies can make those claims.

That is why drivers must compare as many rates as you can. You cannot predict which insurance companies will have the lowest Honda S2000 insurance rates.

Auto Insurance Coverage Specifics

Having a good grasp of your policy aids in choosing which coverages you need and the correct deductibles and limits. Auto insurance terms can be impossible to understand, and even agents have difficulty translating policy wording. Below you’ll find typical coverage types offered by auto insurance companies.

Protection from uninsured/underinsured drivers – Your UM/UIM coverage protects you and your vehicle when other motorists do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle’s occupants and damage to your 2002 Honda S2000.

Because many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is very important. Your uninsured/underinsured motorist coverages are often set the same as your liability limits.

Comprehensive (Other than Collision) – This coverage covers damage OTHER than collision with another vehicle or object. A deductible will apply, and insurance will cover the rest of the damage.

Comprehensive insurance covers hail damage, rock chips in glass, fire damage, and vandalism. Your auto insurance company will pay the highest ACV or actual cash value, so if it’s not worth much more than your deductible, consider dropping full coverage.

Liability car insurance – Liability insurance can cover injuries or damage you cause to a person or their property in an accident. This coverage protects you against claims from other people. Liability doesn’t cover damage to your property or vehicle.

It consists of three limits, bodily injury per person, injury per accident, and property damage. You might see limits of 50/100/50, which means you have a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and property damage coverage of $50,000. Occasionally you may see a combined limit that combines the three limits into one amount with no separate limits for injury or property damage.

Liability insurance covers funeral expenses, income loss, pain, suffering, and repair bills for other people’s vehicles. How much liability should you purchase? That is a decision to put some thought into, but buy as large an amount as possible.

Medical expense insurance – Med pay and PIP coverage pay for funeral costs, ambulance fees, surgery, and hospital visits. The coverages can be utilized in your health insurance policy or if you do not have health coverage. They cover both the driver and occupants and if you are hit a while walking down the street. Personal Injury Protection is not an option in every state but can be used in place of medical payments coverage.

Collision coverages – This pays to fix your vehicle from damage caused by collision with a stationary object or another vehicle. You have to pay a deductible then your collision coverage will kick in.

Collision coverage protects against things like sideswiping another vehicle, hitting a parking meter, colliding with another moving vehicle, and crashing into a ditch. Collision is rather expensive coverage, so you might think about dropping it from lower-value vehicles. Drivers also can raise the deductible to get cheaper collision coverage.

Final Thoughts on Car Insurance

As you prepare to switch companies, it’s terrible to buy lower coverage limits to save a few bucks. On many occasions, consumers will sacrifice liability limits or collision coverage and learn later they didn’t purchase enough coverage. The ultimate goal is to buy enough coverage for the lowest price while protecting your assets.

We’ve covered many ways to compare 2002 Honda S2000 insurance prices online. It’s most important to understand that the more times you quote, the higher the chance of saving money. You may be surprised to find that the lowest-priced car insurance comes from a small local company. These companies may only write in your state and offer lower rates than the large multi-state companies such as Progressive or GEICO.

Additional information can be read below:

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