2016 Honda Accord Insurance Rates
Average insurance rates for a 2016 Honda Accord are $1,228 a year with full coverage. Comprehensive costs approximately $244 each year, collision costs $454, and liability coverage costs around $378. Buying a liability-only policy costs as low as $438 a year, with high-risk insurance costing around $2,656. Teenage drivers receive the highest rates at $4,640 a year or more.
Annual premium for full coverage: $1,228
Rate estimates for 2016 Honda Accord Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 2016 Honda Accord models. Rates are based on a 40-year-old male driver, $500 comprehensive and collision deductibles, and a clean driving record. Remaining premium consists of UM/UIM coverage, Medical/PIP, and policy fees.
Price Range by Coverage and Risk
For a driver in their 40's, prices range go from as low as $438 for only liability insurance to a high rate of $2,656 for a driver who has had serious violations or accidents.
These differences demonstrate why all drivers should compare prices using their specific location and risk profile, rather than using average rates.
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Recommended Companies for Cheap 2016 Honda Accord Insurance
Looking for lower car insurance rates? Shoppers have lots of choices when shopping for the best price on Honda Accord insurance. You can either spend your time calling around trying to get quotes or save time using the internet to find the lowest rates. There is a right way and a wrong way to buy car insurance and we’ll show you the proper way to compare rates for your Honda and locate the lowest possible price.
It’s smart to quote other rates occasionally because prices are constantly changing. If you had the lowest quotes for Accord insurance two years ago you will most likely find a better rate today. You’ll find a ton of advice on car insurance online but in this article, you’re going to get some great ways to quit paying high car insurance rates.
Finding affordable coverage is not rocket science. If you have car insurance now, you should be able to cut costs considerably using these tips. Vehicle owners just need to know the most effective way to get comparison quotes on the web.
Recommended Companies for the Best Insurance Rates
The best way we recommend to compare rate quotes takes advantage of the fact car insurance companies participate in a system to compare their rates. All you need to do is take a few minutes to give details including your job, your education level, the ages of drivers, and whether you are married. The data is then sent to insurance carriers in your area and they provide comparison quotes almost instantly.
If you wish to get multiple quotes for your Honda Accord now, click here and see if a lower rate is available.
Do auto insurance companies bend the truth?
Drivers can’t avoid all the ads for auto insurance savings by Allstate and Progressive. All the ads tend to make the same promise that people will save if you switch your coverage to them.
That’s great but how can every company give you a lower rate? You have to listen carefully.
Insurance providers have a preferred profile for the type of customer that earns them a profit. An example of this type of driver may be married and over the age of 30, has no tickets, and drives less than 5,000 miles a year. Any customer that meets those criteria will get very good prices as well as cut their rates substantially.
Drivers who are not a match for this stringent profile will probably have to pay higher premiums and this results in the customer buying from someone else. If you listen closely, the ads state “drivers that switch” not “all people who quote” save that much when switching. This is how insurance companies can make those statements. Because every company is different, you should get insurance quotes as often as possible. It’s just too difficult to predict which auto insurance company will be your best fit.
You can change your insurance prices
Many things are used in the calculation when quoting car insurance. Some factors are common sense like your driving record, but others are less obvious like your vehicle usage or your financial responsibility.Consumers need to have an understanding of the factors that help calculate your premiums. If you know what positively or negatively impacts your premiums, this enables you to make decisions that will entitle you to cheaper rates.
- Frequent auto insurance claims increase auto insurance rates – Car insurance companies give cheaper rates to insureds who do not file claims often. If you are a frequent claim filer, you can definitely plan on increased rates or even have your policy non-renewed. Your car insurance is designed for the large, substantial claims.
- Cars with good safety ratings means lower prices – Cars with five star safety ratings tend to have lower insurance rates. Safe vehicles result in less severe injuries and better occupant protection means lower claim amounts which can mean better rates for you.
- Pay more of a claim out-of-pocket – Comp and collision deductibles state the amount of money you are willing to pay before a claim is paid by your company. Insurance for physical damage, aka comp and collision, is used to repair damage to your car. Some instances where coverage would apply could be rearending another vehicle, damage from fire, and having a roll-over accident. The larger the amount you choose to pay out-of-pocket, the bigger discount you will receive for Accord insurance.
- Liability coverage is critical – A critical coverage on your policy, liability insurance will protect you if ever you are determined to be liable for an accident. It will provide for a legal defense which can cost a lot. This coverage is very inexpensive as compared to coverage for physical damage, so do not skimp.
- Careless driving leads to higher premiums – Drivers who don’t get tickets have lower premiums compared to bad drivers. Even a single driving citation can increase rates by twenty percent. People who have flagrant violations such as reckless driving or DUI are required to submit a SR-22 or proof of financial responsibility with their state’s department of motor vehicles in order to continue driving.
- Drivers with high credit save on auto insurance – Your credit score will be a significant factor in calculating your premium rate. If your credit history is lower than you’d like, you could potentially save money when insuring your 2016 Honda Accord if you clean up your credit. Consumers who have high credit scores tend to be better drivers and file fewer claims as compared to drivers with worse credit.
- Younger drivers cost more – Teenage drivers are statistically proven to be more careless when driving with friends therefore auto insurance rates are much higher. More mature drivers tend to be more responsible, cost insurance companies less in claims , and are generally more financially stable.
Lower rates by qualifying for discounts
Auto insurance is not inexpensive, but there could be available discounts that can drop the cost substantially. Some discounts apply automatically when you purchase, but some may not be applied and must be specifically requested before being credited.
- Homeowners Savings – Owning your own home or condo may trigger a policy discount on auto insurance due to the fact that maintaining a home means you have a higher level of financial diligence.
- Switch and Save Discount – A few companies give discounts for switching companies prior to the expiration date on your current policy. The savings is around 10%.
- College Student – College-age children who are enrolled in higher education away from home and leave their car at home can receive lower rates.
- Online Discount – Many larger companies will provide an incentive shop insurance digitally online.
- Telematics Data Discounts – Drivers who agree to allow their insurance company to track where and when they drive by using a small device installed in their vehicle like Allstate’s Drivewise may get a rate reduction as long as they are good drivers.
- Seat Belts Save – Drivers who require all vehicle occupants to buckle up may be able to save a few bucks off the personal injury premium cost.
- Defensive Driver – Taking time to complete a class that teaches driver safety techniques could possibly earn you a 5% discount depending on where you live.
- Anti-lock Brakes – Cars, trucks, and SUVs with ABS braking systems or traction control have fewer accidents and therefore earn up to a 10% discount.
- Senior Citizens – Older drivers may qualify for reduced rates for Accord insurance.
You should keep in mind that some of the credits will not apply to your bottom line cost. Most only cut specific coverage prices like collision or personal injury protection. Even though it appears you could get a free auto insurance policy, it just doesn’t work that way. Any amount of discount will cut the cost of coverage.
Some companies that may offer quotes with many of the previously listed discounts include:
Before you buy a policy, ask each company or agent how many discounts you can get. Some discounts listed above might not be offered everywhere.
Insurance is unique, just like you
When buying proper insurance coverage, there really is not a “perfect” insurance plan. Everyone’s situation is unique.
Here are some questions about coverages that might point out if your situation might need an agent’s assistance.
- Do I need to file an SR-22 for a DUI in my state?
- Is my 2016 Honda Accord covered for smoke damage?
- Is my custom paint covered by insurance?
- Is pleasure use cheaper than using my 2016 Honda Accord to commute?
- Should I buy only the required minimum liability coverage?
- Am I covered by my spouse’s policy after a separation?
- Where can I find DUI or SR-22 insurance?
- Does my insurance cover damage caused when ticketed for reckless driving?
If you can’t answer these questions but a few of them apply, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, take a second and complete this form. It only takes a few minutes and can help protect your family.
Auto insurance specifics
Learning about specific coverages of your auto insurance policy can help you determine which coverages you need at the best deductibles and correct limits. Policy terminology can be ambiguous and nobody wants to actually read their policy.
Collision – This coverage covers damage to your Accord caused by collision with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.
Collision coverage pays for things such as backing into a parked car, rolling your car, damaging your car on a curb, hitting a parking meter and crashing into a building. This coverage can be expensive, so consider dropping it from vehicles that are 8 years or older. Another option is to increase the deductible to get cheaper collision coverage.
Liability car insurance – Liability coverage protects you from damages or injuries you inflict on a person or their property that is your fault. It protects you against other people’s claims, and doesn’t cover your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and $50,000 of coverage for damaged property.
Liability coverage protects against claims such as court costs, loss of income, emergency aid, attorney fees and funeral expenses. How much liability should you purchase? That is up to you, but it’s cheap coverage so purchase as large an amount as possible.
Comprehensive coverage (or Other than Collision) – This coverage pays for damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims such as damage from getting keyed, fire damage and a tree branch falling on your vehicle. The highest amount a auto insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.
Uninsured Motorist or Underinsured Motorist insurance – This protects you and your vehicle’s occupants from other drivers when they either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Because many people have only the minimum liability required by law, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is important protection for you and your family.
Insurance for medical payments – Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses for doctor visits, hospital visits, rehabilitation expenses and X-ray expenses. They can be utilized in addition to your health insurance plan or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants and will also cover any family member struck as a pedestrian. PIP is only offered in select states but it provides additional coverages not offered by medical payments coverage
Saving money is sweet as honey
Drivers switch companies for any number of reasons including denial of a claim, an unsatisfactory settlement offer, policy cancellation or high rates after DUI convictions. Regardless of your reason, finding a new company is easier than you think.
When shopping online for insurance coverage, it’s a bad idea to reduce coverage to reduce premium. In too many instances, someone sacrificed comprehensive coverage or liability limits and discovered at claim time that the few dollars in savings costed them thousands. The ultimate goal is to buy a smart amount of coverage for the lowest price and still be able to protect your assets.
We covered many ways to lower your 2016 Honda Accord insurance car insurance rates. The key thing to remember is the more rate quotes you have, the better your chances of lowering your premium rates. You may be surprised to find that the biggest savings come from some of the smallest insurance companies.
Much more information about insurance coverage can be found at the links below
- Anti-Lock Brake FAQ (iihs.org)
- Distracted Driving (Insurance Information Insitute)
- Preventing Carjacking and Theft (Insurance Information Insitute)
- Choosing a Car for Your Teen (State Farm)
Find the Cheapest Quotes in Your Area
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Rates by U.S. City
|New York City, NY||$2,394|
|Los Angeles, CA||$2,067|
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Need a specific model?
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Rates by Driver Age
Full coverage, $500 deductibles
Rates by Deductible
Full coverage, driver age 40
Rates by Liability Limit
Full coverage, driver age 40
Rates for High Risk Drivers
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
|5-yr Accident Free||$89|
|5-yr Claim Free||$79|
|Paid in Full/EFT||$55|
Discounts are estimated and may not be available from every company or in every state.