It’s an obvious assumption that car insurance companies want to keep you from comparing rates. Consumers who compare rates once a year are very likely to switch to a new company because the odds are good of finding a policy with better rates. A study showed that drivers who regularly compared price quotes saved over $850 each year as compared to drivers who never shopped for cheaper rates.
If finding low prices for auto insurance in Plano is your target objective, understanding how to shop and compare insurance can help you be more efficient.
It takes a few minutes, but the best way to find low-cost prices for Honda Accord Hybrid insurance in Plano is to start comparing prices yearly from companies in Texas. This can be done by following these steps.
- Try to understand auto insurance and the things you can control to keep rates low. Many factors that cause rate increases such as careless driving and an imperfect credit score can be controlled by making minor driving habit or lifestyle changes. Keep reading for additional ideas to get cheaper coverage and find discounts that you may qualify for.
- Get rate quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can give quotes from one company like Progressive and State Farm, while independent agents can give you price quotes from many different companies. View a list of agents
- Compare the new rate quotes to your current policy premium and determine if cheaper Accord Hybrid coverage is available. If you can save money and decide to switch, verify that coverage does not lapse between policies.
- Provide notification to your current agent or company to cancel the current policy and submit a completed policy application and payment to your new agent or company. Once the application is submitted, safely store the certificate of insurance with your vehicle’s registration.
An important bit of advice to remember is that you use similar coverage information on every price quote and to quote with as many auto insurance providers as possible. Doing this helps ensure the most accurate price comparison and the best price quote selection.
Finding quotes for more affordable protection in Plano is not as hard as you may think. If you are already insured or are looking for a new policy, you can use these tips to shop for the lowest rates while maintaining coverages. Shoppers just need to use the quickest way to shop over the internet.
Informed Drivers Know How to Buy Car Insurance at a Discount
Smart consumers have a good feel for a few of the rating criteria that go into determining the price you pay for car insurance. If you have some idea of what controls the rates you pay, this helps enable you to make changes that may reward you with lower premium levels. Lots of factors are part of the equation when you quote your car insurance policy. A few of the factors are predictable like your driving record, but others are not quite as obvious like your vehicle usage and annual miles driven.
The following are just a few of the factors used by companies to determine prices.
More stress means more cost – Did you know your career choice can influence rates? Careers such as real estate brokers, social workers, and emergency personnel generally have higher premiums than the average policyholder due to high stress levels and lots of time spent away from family. On the flip side, occupations such as scientists, students and the unemployed receive lower rates.
Accidents can increase costs – Drivers who don’t get tickets get better prices compared to drivers with tickets. Even a single chargeable violation can boost insurance rates forty percent or more. People who have dangerous violations like reckless driving or DUI may need to maintain a SR-22 with their state’s department of motor vehicles in order to prevent a license revocation.
Bundle and save – Some companies provide a discount to insureds who carry more than one policy, otherwise known as a multi-policy discount. Discounts can add up to 10 percent or more. Even though this discount sounds good, consumers should still compare other company rates to help ensure you have the lowest rates. You may still be able to find a better deal by buying from different companies
Excellent credit scores equal low premiums – Your credit score is a large factor in calculating your car insurance rates. If your credit rating leaves room for improvement, you may save money insuring your Honda Accord Hybrid if you improve your credit rating. Insureds that have very high credit ratings tend to be more responsible than drivers with lower credit ratings.
Marriage is a good thing – Being married may save some money when buying car insurance. Having a spouse translates into being more mature and it’s statistically proven that being married results in fewer claims.
Premiums and your address – Residing in less populated areas has it’s advantages if you are looking for the lowest rates. City drivers have more road rage incidents and higher rates of accident claims. Less people corresponds to lower accident rates in addition to fewer liability claims.
Cars with good safety ratings means cheaper insurance – Vehicles that have high safety ratings are cheaper to insure. These vehicles reduce occupant injuries and lower rates of occupant injuries means less money paid by your insurance company and cheaper rates on your policy.
Raising physical damage deductibles lowers rates – Your deductibles define how much you are required to spend in the event of a claim. Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, protects your car from damage. Some coverage claims are colliding with a stationary object, vandalism, and damage caused by road hazards. The larger the amount the insured has to pay upfront, the lower your rates will be.
Honda Accord Hybrid claim data – Auto insurance companies analyze historical claim data when they calculate premium rates for each model. Models that historically have a higher amount or frequency of claims will have higher premium rates. The next table illustrates the compiled insurance loss statistics for Honda Accord Hybrid vehicles.
For each coverage category, the claim probability for all vehicles, regardless of make, model or trim level, is set at 100. Values below 100 are indicative of better than average losses, while values that are 100 or greater point to more losses or an increased likelihood of larger losses.
|Specific Honda Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Honda Accord Hybrid||96||80||98||89||76||84|
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Save a ton by receiving discounts
Companies offering auto insurance don’t always publicize every discount they offer very well, so the next list breaks down both well-publicized and the more hidden discounts you could be receiving when you buy Plano car insurance online.
- Theft Prevention System – Cars that have factory anti-theft systems are stolen less frequently and will save you 10% or more on Accord Hybrid insurance in Plano.
- Discount for Good Grades – Excelling in school may save you up to 25%. Many companies even apply the discount to college students up to age 25.
- Club Memberships – Having an affiliation with a civic or occupational organization in Plano is a good way to get lower rates when shopping for insurance.
- Auto/Home Discount – If you combine your home and auto policies with the same company you could get a discount of approximately 10% to 15%.
- Data Collection Discounts – Policyholders that allow their insurance company to scrutinize when and where they use their vehicle through the use of a telematics system such as Allstate’s Drivewise and State Farm’s In-Drive system may see discounts as long as they are good drivers.
- Paperless Signup – A few larger online companies will provide an incentive for completing your application digitally online.
- Homeowners Savings – Simply owning a home may earn you a small savings because it requires personal responsibility.
- Low Mileage Discounts – Maintaining low annual mileage could be rewarded with slightly better insurance rates than normal.
Discounts reduce rates, but you should keep in mind that some of the credits will not apply to the entire cost. Most only reduce specific coverage prices like physical damage coverage or medical payments. Just because it seems like all the discounts add up to a free policy, it’s just not the way it works. Any qualifying discounts will positively reduce your overall premium however.
Some companies that may offer quotes with some of the above discounts are:
If you need lower rates, check with every prospective company which discounts you may be entitled to. Some discounts listed above may not be offered in your area.
Compare insurance prices regularly to save
In this article, we presented a lot of information how to lower your Honda Accord Hybrid insurance prices in Plano. The key concept to understand is the more times you quote, the better likelihood of getting the cheapest Honda Accord Hybrid rate quotes. You may even be surprised to find that the best prices are with a company that doesn’t do a lot of advertising.
Drivers who switch companies do it for a variety of reasons including poor customer service, delays in paying claims, policy cancellation and not issuing a premium refund. Regardless of your reason, finding a new insurance company is not as difficult as it may seem.
When buying insurance coverage, don’t be tempted to reduce coverage to reduce premium. There have been many cases where consumers will sacrifice liability limits or collision coverage only to discover later that it was a big mistake. The ultimate goal is to purchase plenty of coverage at the best possible price but still have enough coverage for asset protection.
More information is located below:
- Preventing Carjacking and Theft (Insurance Information Institute)
- Who Has Cheap Plano Auto Insurance Rates for Unemployed Drivers? (FAQ)
- Red Light Cameras (State Farm)
- Prom Night Tips for Teen Drivers (State Farm)