Honda Accord insurance cost image courtesy of QuoteInspector.com
Finding cheaper insurance for a Honda Accord hinges on a complicated rating formula that uses factors such as whether you are a homeower, your profession, and the deductible amount you use. Drivers in Texas will pay on average $1,028 a year for Accord insurance, but that figure is a valuation based upon a 40-year-old single female driver with both comprehensive and collision coverage and $1,000 deductibles.
More likely than not, you're not a 40-year-old female, possibly married instead of single, or maybe your Accord is old enough that it doesn't require full coverage. Having just a slight change in the criteria used to calculate rates could end up with a large change in rates.
Everone's needs are different, and this illustrates why the best method for finding cheap car insurance rates for your Honda is to put in the effort to do a thorough rate comparison.
The trim level of your vehicle tends to have a direct impact on the yearly cost, so the price you will be charged to insure a Accord LX 4-Dr Sedan model will be $362 cheaper than the price to insure the more expensive Accord EX-L 2-Dr Coupe version, as shown by the rates below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Accord LX 4-Dr Sedan||$152||$290||$422||$24||$126||$1,014||$85|
|Accord EX 4-Dr Sedan||$152||$290||$422||$24||$126||$1,014||$85|
|Accord LX-P 4-Dr Sedan||$152||$290||$422||$24||$126||$1,014||$85|
|Accord EX-L 4-Dr Sedan||$174||$352||$422||$24||$126||$1,098||$92|
|Accord EX 2-Dr Coupe||$174||$416||$560||$34||$168||$1,352||$113|
|Accord LX-S 2-Dr Coupe||$174||$416||$560||$34||$168||$1,352||$113|
|Accord EX-L 2-Dr Coupe||$198||$416||$560||$34||$168||$1,376||$115|
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Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Price estimates do not factor in specific zip code location which can modify auto insurance rates greatly.
Auto insurance company ratings
Selecting the right car insurance company is hard considering how many choices drivers have in Plano. The company rank data below can help you choose which auto insurers you want to consider purchasing a policy from. These rankings only include major nationwide insurance companies, so smaller regional companies will not be included in these rankings.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
How to get discounts on Plano car insurance rates
Auto insurance companies that offer cheap quotes for a Honda Accord may additionally offer rate discounts that could lower prices by as much as 35% if you meet specific criteria. A list of companies and some of the discounts can be found below.
- Travelers offers discounts including hybrid/electric vehicle, home ownership, new car, driver training, IntelliDrive, good student, and payment discounts.
- 21st Century includes discounts for automatic seat belts, air bags, defensive driver, good student, and anti-lock brakes.
- State Farm has discounts for anti-theft, safe vehicle, good student, multiple policy, and Steer Clear safe driver discount.
- GEICO offers discounts for air bags, membership and employees, emergency military deployment, multi-vehicle, seat belt use, good student, and driver training.
- SAFECO policyholders can earn discounts including safe driver, multi-car, anti-lock brakes, teen safe driver, bundle discounts, and anti-theft.
- AAA may offer discounts for anti-theft, multi-car, AAA membership discount, good student, and education and occupation.
The illustration below shows the difference between insurance costs with and without discounts applied to the policy premium. The premiums assume a male driver, a clean driving record, no at-fault accidents, Texas state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles.
The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with passive restraint, defensive driving course, homeowner, multiple vehicle, anti-theft, and marriage discounts applied. When these discounts are applied to the policy premium, theamount saved on auto insurance for a Honda Accord is 28% or $599.
What aren't you shopping around?
Plano auto insurance rates are calculated based on many things which can significantly increase or decrease the price you pay. Improving your credit rating, filing a claim, or getting a driving violation can cause premium changes that can cause some rates to be cheaper than competitors. In addition, insurers change prices as often as every three months in order to maintain liquidity for claims. Heavier than normal losses may result in increased rates, while profitable underwriting can produce lower-cost Accord insurance rates.
The data below shows rates for the cheapest car insurance in Plano, TX for a 45-year-old male driver with no accidents or violations, and a decent credit rating. If we look at prices based on his current risk factors, Travelers has the best car insurance rates in Plano at $1,114 each year. This is $790 less than the average price paid by Texas drivers of $1,904. USAA, Germania Mutual, Texas Farm Bureau, and Esurance round out the rest of the best Plano, TX auto insurance companies.
In this example, we will give the driver in the first example a chargeable accident, less-than-perfect credit, and a traffic ticket or two. Due to the fact that every auto insurer has a unique approach for setting rates, comparing rates may now present a different list of cheap Plano auto insurance companies as shown below.
USAA now has the best price in Plano with Mercury, State Farm, Nationwide, and Safe Auto now being in the top five. This example demonstrates why Plano drivers need to compare as many rates as possible to find the best auto insurance rates for a Honda Accord. Rates are made up of many things and change dramatically, so the cheapest option the last time you shopped around may now be costing you a lot of money.
How to find the cheapest insurance for a Honda Accord
The list below shows a few penny-pinching solutions that can help Plano drivers buy low-cost coverage.
- Good credit can help you save money
- Do not get tickets or violations
- Do not file small claims
- Buying your home and auto policies from the same company can earn a discount
- Prevent price hikes by avoiding at-fault accidents
- Increase deductibles to save money
- Compare rates and switch if you can find a better deal
That last idea is particularly important, as was affirmed in this piece. Car insurance rates can change considerably based on profitability, so drivers shouldn't hesitate to switch companies if you find a better deal.
Many drivers prefer to stick with one company, but it's not a good idea if that stubbornness costs you a fortune every year. Now is a great time to shop around to find cheaper car insurance for a Honda Accord in Plano.