2020 Honda Accord Insurance Rates
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UPDATED: Apr 9, 2020
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Average insurance rates for a 2020 Honda Accord are $1,310 a year for full coverage insurance. Comprehensive costs approximately $280, collision insurance costs $500, and liability coverage costs $372. Buying a liability-only policy costs as little as $438 a year, and high-risk insurance costs around $2,830. Teen drivers receive the highest rates at up to $4,888 a year.
Annual premium for full coverage: $1,310
Rate estimates for 2020 Honda Accord Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 2020 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 middle-aged driver, prices range range from as low as $438 for the bare minimum liability coverage to a much higher rate of $2,830 for a high risk driver.
These differences illustrate why anyone shopping for car insurance should compare rates using their specific location and risk profile, rather than using price averages.
Use the form below to get rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
Recommended Companies for Cheap 2020 Honda Accord Insurance
Are you drained from sacrificing each month for car insurance? You are in the same boat as millions of other drivers. Having so many online and local companies to choose from, it can be diffult for people to find the lowest price car insurance company.
Ways to get insurance quotes
Getting cheap 2020 Honda Accord insurance pricing is a great way to save money. All that’s required is to take a couple of minutes getting comparison quotes online from several insurance companies. It’s super easy and can be done by using one of the methods below.
- If you’re in a hurry, the quickest way to get quotes for comparison would be an industry-wide quote request form. This easy form saves time by eliminating a different quote for each company. Just one form will get you rate comparisons from many national carriers.
- A more time consuming way to find better pricing is spending the time to visit the website for every company you want to comare and fill out a new quote form. For examples sake, we’ll assume you want rates from State Farm, Allstate and American Family. You would be required to spend time going to each site individually and punch in your information repeatedly, which is why most consumers use the first method.
It’s up to you which method you use, but be certain you are entering equivalent coverages and limits with each company. If you use different limits and deductibles on each one it will be very difficult to truly determine the lowest rate.
More discounts mean cheaper premiums
Not many people think insurance is cheap, but there may be some discounts to cut the cost considerably. A few discounts will be applied when you get a quote, but a few must be requested specifically prior to getting the savings.
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- Defensive Driving Course – Completing a safe driver course is a good idea and can lower rates and easily pay for the cost of the class.
- Multiple Vehicles – Drivers who insure all your vehicles on one policy may reduce the rate for each vehicle.
- Full Payment Discount – If you pay your bill all at once instead of monthly or quarterly installments you could save up to 5%.
- Accident Waiver – but companies like Progressive, State Farm and GEICO permit an accident before your rates go up as long as you don’t have any claims before the accident.
- Air Bag Discount – Cars that have air bags or automatic seat belts can receive discounts of 20 to 30 percent.
It’s important to understand that some of the credits will not apply to the entire policy premium. Most only reduce the price of certain insurance coverages like comp or med pay. So when it seems like you could get a free car insurance policy, it just doesn’t work that way.
A few of the larger companies and a partial list of their discounts are detailed below.
- 21st Century discounts include student driver, 55 and older, early bird, driver training, and automatic seat belts.
- Progressive policyholders can earn discounts including good student, multi-policy, online quote discount, online signing, continuous coverage, and homeowner.
- State Farm may have discounts that include anti-theft, multiple policy, accident-free, driver’s education, student away at school, defensive driving training, and Steer Clear safe driver discount.
- Nationwide offers discounts including accident-free, multi-policy, anti-theft, easy pay, good student, family plan, and Farm Bureau membership.
- Esurance offers discounts for claim free, anti-lock brakes, anti-theft, multi-car, homeowner, and emergency road assistance.
- The Hartford has discounts for bundle, driver training, defensive driver, air bag, and vehicle fuel type.
Before you buy a policy, ask each company or agent which discounts you may be entitled to. Some of the earlier mentioned discounts might not be offered in your area. To find car insurance companies who offer discounts, enter your zip code here.
What affects Honda Accord insurance rates?
Lots of factors are taken into consideration when you get a price on insurance. Some of the criteria are obvious such as your driving record, but other criteria are less apparent such as your marital status or your commute time.The best way to find cheaper insurance coverage is to take a look at a few of the rating criteria that aid in calculating your policy premiums. When you know what positively or negatively positively or negatively impacts your premiums, this enables you to make decisions that could result in much lower annual insurance costs.
The factors shown below are a partial list of the pieces that factor into prices.
- Marriage is a factor – Having a spouse may cut your premiums on your insurance coverage policy. Having a spouse means you’re more mature and it’s statistically proven that drivers who are married file infrequent claims.
- Prevent insurance coverage lapses – Allowing your coverage to lapse is a fast way to increase your insurance coverage rates. Not only will rates go up, not being able to provide proof of insurance will get you a hefty fine and possibly a revoked license.
- Additional coverages that may be costing you – Insurance companies have many add-on coverages that can add up on your 2020 Accord policy. Add-on coverages like coverage for rental cars, better glass coverage, and motor club memberships are examples of these. The coverages may be enticing when deciding what coverages you need, but if you have no use for them consider taking them off your policy.
- Improve your credit rating and save – Having a bad credit score will be a significant factor in calculating your insurance coverage rates. People with high credit ratings tend to file fewer claims and have better driving records as compared to drivers with poor credit. If your credit is not that good, you could pay less to insure your 2020 Honda Accord by improving your rating.
- Avoid traffic tickets – Getting just one speeding ticket can increase the cost of insurance by as much as thirty percent. Attentive drivers pay less for auto insurance compared to bad drivers. Drivers who have flagrant citations like DUI or reckless driving may face state-mandated requirements to file a SR-22 with their state DMV in order to prevent a license revocation.
- Male costs may be higher – Statistics have proven women tend to be less risk to insure than men. This data doesn’t prove that women are better drivers. Females and males cause accidents at a similar rate, but the male of the species have costlier accidents. They also get ticketed for serious violations such as reckless driving. Young males are most likely to cause an accident and therefore pay the highest rates.
It’s not one size fits all
When it comes to choosing the right insurance coverage, there really is not a perfect coverage plan. Every insured’s situation is different and a cookie cutter policy won’t apply. For instance, these questions may help you determine if your insurance needs may require specific advice.
- Can I afford low physical damage deductibles?
- I have health insurance so do I need medical payments coverage?
- Will my insurance pay for OEM parts?
- Is a fancy paint job covered?
- Should I file a claim if it’s only slightly more than my deductible?
- What is an SR-22 filing?
- What happens if I owe more than my 2020 Honda Accord is worth?
- Can my babysitter drive my car?
- Are all vehicle passengers covered by medical payments coverage?
If it’s difficult to answer those questions, you may need to chat with an insurance agent. To find lower rates from a local agent, fill out your zip code. It’s fast, free and you can get the answers you need.
Car insurance coverages and their meanings
Learning about specific coverages of your policy aids in choosing the right coverages and the correct deductibles and limits. Car insurance terms can be impossible to understand and reading a policy is terribly boring. These are typical coverage types found on the average car insurance policy.
Collision coverage pays for damage to your Accord from colliding with another car or object. A deductible applies then your collision coverage will kick in.
Collision insurance covers things such as crashing into a ditch, sideswiping another vehicle, hitting a parking meter and crashing into a building. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. It’s also possible to bump up the deductible to get cheaper collision coverage.
Coverage for medical payments
Coverage for medical payments and/or PIP reimburse you for bills for doctor visits, nursing services, dental work and hospital visits. They are used in conjunction with a health insurance program or if there is no health insurance coverage. They cover you and your occupants and will also cover if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state and may carry a deductible
Uninsured and underinsured coverage
This gives you protection when the “other guys” do not carry enough liability coverage. It can pay for hospital bills for your injuries and damage to your Honda Accord.
Since a lot of drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.
Comprehensive insurance coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things such as falling objects, a tree branch falling on your vehicle and fire damage. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.
Coverage for liability
Liability insurance can cover damages or injuries you inflict on other people or property. It protects you against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see liability limits of 50/100/50 that translate to $50,000 bodily injury coverage, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property.
Liability insurance covers claims such as attorney fees, emergency aid, structural damage, medical expenses 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 much as you can afford.
A little work can save a LOT of money
When getting car insurance quotes online, it’s a bad idea to reduce coverage to reduce premium. There are many occasions where consumers will sacrifice physical damage coverage only to regret at claim time that they should have had better coverage. Your strategy should be to buy enough coverage at the best cost.
We just covered some good ideas how you can get a better price on 2020 Honda Accord insurance. The most important thing to understand is the more rate quotes you have, the better likelihood of getting cheaper car insurance. You may be surprised to find that the lowest priced auto insurance comes from some of the smallest insurance companies. Regional companies may cover specific market segments cheaper than their larger competitors like Progressive or GEICO.
More information is available at these links:
- Senior Drivers (Insurance Information Insitute)
- Electronic Stability Control FAQ (iihs.org)
- Safety Tips for Teen Drivers (Insurance Information Insitute)
- What if I Can’t Find Coverage? (Insurance Information Insitute)
- Distracted Driving Statistics (Insurance Information Insitute)
- Understanding Rental Car Insurance (Insurance Information Insitute)
Rates by U.S. City
|New York City, NY||$2,073|
|Los Angeles, CA||$2,241|
Need a specific model?
Choose your model and trim below
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||$96|
|5-yr Claim Free||$84|
|Paid in Full/EFT||$60|
Discounts are estimated and may not be available from every company or in every state.