Who Has the Cheapest Insurance Quotes for a Honda CR-V in Maine?
Enter your Maine zip code below to view companies that have cheap auto insurance rates.
UPDATED: Nov 15, 2019
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Our editors always tell us that when writing about car insurance, the word “cheap” really should not be used anywhere to describe car insurance prices. Forgive the oxymoron, but cheap auto insurance for a Honda CR-V is almost non-existent. We’ll try to make it up to you, because we can show you some ways you can find and buy insurance that you can fit into your budget.
Your chances of buying the cheapest auto insurance for a Honda CR-V in Maine relies on a pretty complex algorithm that uses a lot of factors such as the mileage of your daily commute, whether or not you have filed claims in the past, and any driving offenses on your record. Drivers in Maine pay approximately $440 a year to insure a CR-V, but that policy rate is a valuation based upon a 50-year-old married female who needs full physical damage coverage and $250 deductibles.
More than likely, you are not 50 years old and maybe not even female, you might be single instead of married, and maybe you want higher deductibles. Everone’s needs are different, and this illustrates why the best method for finding the most affordable coverage for your Honda is to comparison shop your policy at every renewal or at least every couple of years. Rate quotes are easy and you will be able to compare rates from some of the best insurers available.
The specific trim level will most likely have an effect on the yearly cost, so the price you pay to insure a CR-V LX 2WD will be $16 cheaper than the price to insure the more expensive CR-V EX-L 4WD version, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|CR-V LX 2WD||$106||$182||$162||$10||$48||$508||$42|
|CR-V EX 2WD||$106||$182||$162||$10||$48||$508||$42|
|CR-V LX 4WD||$106||$182||$162||$10||$48||$508||$42|
|CR-V EX 4WD||$122||$182||$162||$10||$48||$524||$44|
|CR-V EX-L 2WD||$122||$182||$162||$10||$48||$524||$44|
|CR-V EX-L 4WD||$122||$182||$162||$10||$48||$524||$44|
|Get Your Own Custom Quote Go|
Premium data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Maine minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Prices do not factor in Maine location which can change premium rates considerably.
Maine car insurance company ratings
Insuring your vehicle with the right insurance company can be a challenge considering how many different companies insure vehicles in Maine. The company rank data below could help you analyze which car insurance providers to look at buying from.
The rankings below only include large insurance companies, so smaller regional companies are not included in the list. To get price quotes from these top insurers and more, click here.
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Top 10 Major Car Insurance Companies in Maine Ranked by A.M. Best Rating
- GEICO – A++
- Travelers – A++
- State Farm – A++
- USAA – A++
- Esurance – A+
- Allstate – A+
- Nationwide – A+
- Progressive – A+
- The Hartford – A+
- The General – A-
Top 10 Major Car Insurance Companies in Maine Ranked by Value
- The General
- The Hartford
- Farmers Insurance
- Safeco Insurance
- AAA Insurance
- 21st Century
- State Farm
- American Family
Top Companies for Honda CR-V Insurance in Maine
Enter your zip code below to view companies that have cheap auto insurance rates.
Get discounts on Maine auto insurance rates
Insurance providers that offer the cheapest insurance for a Honda CR-V in Maine could also offer special discounts that may potentially lower prices by as much as 30% if you can meet the requirements. A few of the larger companies and a selection of discounts include:
- The Hartford offers discounts including air bag, driver training, good student, defensive driver, and vehicle fuel type.
- American Family may have discounts that include accident-free, air bags, bundled insurance, Steer into Savings, good student, early bird, and mySafetyValet.
- Progressive includes discounts for multi-policy, online signing, multi-vehicle, good student, and online quote discount.
- Travelers policyholders can earn discounts including save driver, IntelliDrive, continuous insurance, student away at school, good student, hybrid/electric vehicle, and early quote.
- Farmers Insurance may include discounts for electronic funds transfer, teen driver, alternative fuel, early shopping, business and professional, bundle discounts, and youthful driver.
- USAA has discounts for new vehicle, multi-vehicle, safe driver, military installation, multi-policy, vehicle storage, and defensive driver.
- Liberty Mutual discounts include safety features, new vehicle discount, preferred payment discount, newly married, multi-car, and new graduate.
The illustration below shows the comparison of annual premium costs with and without policy discounts. The premiums assume a male driver, no driving violations, no at-fault accidents, Maine state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, marriage, defensive driving course, homeowner, safe-driver, and multiple vehicle discounts applied. When discounts are applied, the average yearly reduction on car insurance for a Honda CR-V is 27% or $265.
The information below illustrates how choosing a deductible can raise or lower yearly insurance costs when researching cheap insurance for a Honda CR-V. The rates are based on a married male driver, comprehensive and collision coverage, and no discounts are factored in.
As shown above, a 30-year-old driver could lower their car insurance rates by $158 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $238 by changing to a $1,000 deductible. Younger drivers, such as the Age 20 example, can save up to $472 or more by choosing a larger deductible amount. When insureds make the decision to increase the deductibles on their policy, it is necessary to have plenty of savings on hand to enable you to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Difference between liability only and full coverage rates
Finding the cheapest insurance for a Honda CR-V in Maine is the goal of most vehicle owners, and one of the quickest ways to pay less for insurance is to not buy full coverage. The diagram below shows the comparison of insurance prices with and without physical damage coverage. The prices are based on no accidents, no driving violations, $500 deductibles, drivers are not married, and no additional discounts are factored in.
As an overall average, full coverage on your policy costs an additional $971 per year more than just buying liability only. That is a big expense that brings up the question when is it a good idea to stop buying full coverage. There is no clear-cut formula for dropping physical damage insurance, but there is a guideline you can consider. If the annual cost of coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you might want to consider buying only liability coverage.
For example, let’s pretend your vehicle’s claim settlement value is $11,500 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $10,500 after the policy deductible has been paid. If it’s costing you more than $1,050 annually for physical damage coverage, then you may need to consider dropping full coverage.
There are some situations where only buying liability is not financially feasible. If you still have a lienholder on your title, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage.
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