Who Has Cheap Insurance for a Honda Accord in New York?
Whether or not you can find cheap insurance for a Honda Accord in New York depends upon factors like whether you are male or female, whether or not you are currently insured, and any prior driving citations you have received. Drivers in New York pay on average $600 each year to insure a Honda Accord, but that price is calculated using a 30-year-old married female who purchased both comprehensive and collision coverage and $1,000 policy deductibles.
When estimating a car insurance rate like we just did, the issue is that you are not 30 years old and maybe not even female, you might be single instead of married, or maybe you live in a different part of New York than the example. Auto insurance is not the same for everyone, so the most reliable way to find the cheapest rates for your Honda is to do your own rate comparisons.
The trim level of your Honda will likely have an effect on the cost of coverage, so the price you pay to insure a Accord LX 4-Dr Sedan model will be $212 cheaper than the price to insure the more expensive Accord EX-L 2-Dr Coupe model, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Accord LX 4-Dr Sedan||$106||$174||$230||$14||$68||$592||$49|
|Accord EX 4-Dr Sedan||$106||$174||$230||$14||$68||$592||$49|
|Accord LX-P 4-Dr Sedan||$106||$174||$230||$14||$68||$592||$49|
|Accord EX-L 4-Dr Sedan||$122||$212||$230||$14||$68||$646||$54|
|Accord EX 2-Dr Coupe||$122||$250||$306||$18||$92||$788||$66|
|Accord LX-S 2-Dr Coupe||$122||$250||$306||$18||$92||$788||$66|
|Accord EX-L 2-Dr Coupe||$138||$250||$306||$18||$92||$804||$67|
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Premium data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and New York minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Prices do not factor in New York location which can decrease or increase prices considerably.
Deciphering which companies have the cheapest car insurance rates for a Honda Accord will take more work than just comparing rates from one or two companies. Every insurance provider uses a slightly different approach for determining rates in each state, so to begin we’ll rank the most affordable car insurance companies in New York.
It’s a good idea to know that New York car insurance rates are determined by lots of factors that can increase the price of your policy. Simply turning a year older, getting married, or getting a DUI can trigger rate changes that can now make some companies more affordable than others.
Find the Cheapest Auto Insurance for Your Accord
|Rank||Company||Cost Per Year|
|10||New York Central Mutual||$1,892|
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USAA has some of the lowest car insurance rates in New York at around $1,187 annually. Erie, Utica National, Progressive, and Travelers also qualify as some of the lowest-priced New York insurance companies.
As shown in the table above, if you are a policyholder with Utica National and switched to USAA, you might achieve a yearly price reduction of in the neighborhood of $302. New York drivers with Progressive might save as much as $325 a year, and Travelers insureds might see rate reductions of $326 a year.
Bear in mind that those premium estimates are averaged across all drivers and vehicles and and are not calculated with a specific rating modification for a Honda Accord. So the company that fits you best may not even be featured in the above rate chart. That illustrates why you need to get auto insurance quotes using your own personalized driver profile and vehicle information.
Get discounts on New York auto insurance rates
Insurance companies that offer cheap insurance for a Honda Accord in New York may provide rate discounts that can lower rates by as much as 25% or more if you qualify. A list of companies and a summarized list of policyholder discounts are included below.
|Daytime running lights||Yes||Yes||No||No||Yes||No|
|Defensive driver training||Yes||Yes||Yes||Yes||Yes||Yes|
|Pay in full||No||Yes||Yes||Yes||Yes||Yes|
|Own a home||No||No||No||Yes||Yes||No|
|Seat belt use||No||Yes||No||No||No||No|
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The diagram below illustrates the comparison of car insurance costs with and without discounts. The data is based on a female driver, no violations or claims, New York state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with vehicle safety, multiple policy, marriage, claim-free, homeowner, and passive restraint discounts applied. In this example, the average amount saved each year on car insurance for a Honda Accord is % or $.
Does it make sense to buy full coverage?
Finding cheap insurance for a Honda Accord in New York is probably important to most people, and a great way to find cheap insurance is to buy only liability coverage. The example below compares insurance premiums with full physical damage coverage compared to only buying liability only. The costs are based on no claims, a clean driving record, $500 deductibles, marital status is single, and no discounts are applied.
If we average the cost for all age groups, full coverage on your policy costs an extra $1,253 per year more than insuring for liability only. That is a large expense which might make you wonder if buying full coverage is a waste of money. There is no definitive guideline that is best for determining when to drop physical damage insurance, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is about 10% or more of the settlement you would receive from your company, then it might be time to buy liability only.
For example, let’s pretend your vehicle’s claim settlement value is $4,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company would pay you is $3,000 after paying the physical damage deductible. If premium cost is more than $300 a year for full coverage, then you may need to consider dropping full coverage.
Which auto insurance company is best?
If you’re looking for the best insurance for an Accord in New York, the companies that insure more vehicles than anyone else are Progressive, State Farm, Geico, and Allstate. When added together, they make up nearly half of the entire U.S. car insurance market. They all offer a different combination of discounts, features, and options that may influence your buying decision. The data below compares and contrasts ratings and policy coverage options shoppers can expect to find with each one.
|Percent of U.S. market||8.8%||18.3%||11.4%||10%|
|Percent of customers who recommend||88%||88%||87%||86%|
|A.M. Best financial rating||A+||A++||A++||A+|
|Standard & Poor’s rating||AA||AA||AA+||AA-|
|Accident forgiveness coverage||Yes||No||Yes||Yes|
|Uber and Lyft insurance||Yes||Yes||Yes||Yes|
|Rating based on usage||Yes||Yes||No||Yes|
|New car replacement||No||No||No||Yes|
|Where to buy||Indpendent agents or online||State Farm exclusive agents||Online or through a Geico agent||Allstate-only agents|
|Number of agents||30,000+||18,000+||150+||11,000+|
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