Compare Honda CR-V Insurance Rate Quotes in Plano

It’s well known that car insurance companies want to keep you from comparing rates. People who get price comparisons will probably move their business because they have good chances of finding more affordable rates. A study showed that drivers who compared rates annually saved on average $3,400 over four years as compared to drivers who never shopped around for cheaper prices.

If finding the lowest rates on Honda CR-V insurance is the reason you’re here, understanding how to compare insurance premiums can save money and time.

Insurance for Honda CR-VThe easiest way to get the cheapest car insurance rates is to regularly compare prices from companies who sell insurance in Plano.

  1. Gain an understanding of how companies price auto insurance and the factors you can control to keep rates low. Many factors that result in higher rates like traffic tickets, fender benders, and an imperfect credit rating can be improved by making minor driving habit or lifestyle changes.
  2. Obtain price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from one company like GEICO or Farmers Insurance, while independent agents can provide prices from multiple insurance companies. View a list of agents
  3. Compare the quotes to your existing policy to see if a cheaper price is available in Plano. If you find better rates and buy the policy, make sure coverage does not lapse between policies.
  4. Give proper notification to your current agent or company to cancel the current policy. Submit the application along with any required down payment to your new insurance company. As soon as you can, place your new certificate verifying coverage along with your vehicle registration.

The critical component of shopping around is that you’ll want to make sure you compare the same liability limits and deductibles on each price quote and and to get rate quotes from every insurance company. Doing this helps ensure a fair rate comparison and a complete price analysis.

If you already have coverage or are shopping for new coverage, follow these tips to reduce the price you pay while maintaining coverages. Locating the most affordable insurance coverage in Plano is quite easy. You only need to know the proper way to compare prices online.

Rate information and statistics

The rate table below covers estimates of coverage prices for Honda CR-V models. Having a good understanding how insurance prices are determined can benefit drivers when making decisions on the best policy to buy.

Honda CR-V Insurance Rates in Plano, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $180 $338 $366 $22 $110 $1,016 $85
CR-V EX 2WD $180 $338 $366 $22 $110 $1,016 $85
CR-V LX 4WD $180 $338 $366 $22 $110 $1,016 $85
CR-V EX 4WD $206 $338 $366 $22 $110 $1,042 $87
CR-V EX-L 2WD $206 $338 $366 $22 $110 $1,042 $87
CR-V EX-L 4WD $206 $338 $366 $22 $110 $1,042 $87
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Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Estimates do not factor in specific location which can influence insurance rates greatly.

Deductible comparison

When shopping for insurance, a common question is which deductible level should you buy. The following insurance rates highlight the differences in premium rates when you choose different comp and collision deductibles. The first rate table uses a $250 comprehensive and collision deductible and the second set of rates uses a $1,000 deductible.

Honda CR-V insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $256 $408 $324 $20 $96 $1,129 $94
CR-V EX 2WD $256 $408 $324 $20 $96 $1,129 $94
CR-V LX 4WD $256 $408 $324 $20 $96 $1,129 $94
CR-V EX 4WD $294 $408 $324 $20 $96 $1,167 $97
CR-V EX-L 2WD $294 $408 $324 $20 $96 $1,167 $97
CR-V EX-L 4WD $294 $408 $324 $20 $96 $1,167 $97
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Honda CR-V insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $158 $256 $324 $20 $96 $854 $71
CR-V EX 2WD $158 $256 $324 $20 $96 $854 $71
CR-V LX 4WD $158 $256 $324 $20 $96 $854 $71
CR-V EX 4WD $182 $256 $324 $20 $96 $878 $73
CR-V EX-L 2WD $182 $256 $324 $20 $96 $878 $73
CR-V EX-L 4WD $182 $256 $324 $20 $96 $878 $73
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Price information does not factor in vehicle location which can increase or decrease prices greatly.

We can estimate from the data above that using a $250 deductible costs roughly $24 more each month or $288 a year across all Honda CR-V models than selecting the higher $1,000 deductible. Because you would be required to pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you have at least 31 months between claims, you would probably be better off by selecting a higher deductible.

The example below illustrates how choosing a deductible and can impact Honda CR-V yearly insurance costs for different age groups. The data is based on a single female driver, comprehensive and collision coverage, and no policy discounts are applied.

Honda CR-V full coverage rates compared to liability only

The diagram below compares Honda CR-V insurance rates with full coverage compared to only the Texas minimum liability coverage. The premiums assume no violations or claims, $250 deductibles, marital status is single, and no other discounts are factored in.

Are you wasting money on full coverage?

There isn’t a steadfast formula of when to phase out physical damage insurance, but there is a general guideline. If the annual cost of having full coverage is 10% or more of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.

For example, let’s say your Honda CR-V replacement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $8,000 after the policy deductible has been paid. If it’s costing in excess of $800 a year to have full coverage, then it may be the right time to buy liability only.

There are a few situations where dropping full coverage is not in your best interest. If you haven’t paid off your loan, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should keep full coverage.

Components of Your Honda CR-V Insurance Costs

Many things are taken into consideration when pricing auto insurance. Some of the criteria are obvious such as traffic violations, although others are not as apparent such as your marital status or your financial responsibility. It’s important that you understand some of the things that are used to determine the level of your policy premiums. If you have some idea of what controls the rates you pay, this helps enable you to make changes that will entitle you to lower rates.

How much liability do you need? – Your insurance policy’s liability coverage is the protection if ever you are responsible for causing personal injury or damage in an accident. Your liability coverage provides legal defense coverage which can be incredibly expensive. Liability insurance is pretty cheap compared to physical damage coverage, so insureds should have plenty of protection for their assets.

Safer vehicles cost less to insure – Vehicles that have high safety ratings cost less to insure. These vehicles reduce the chance of injuries and reduced instances of injuries translates directly to fewer claims and lower rates for you.

Cheaper to insure gals? – Statistics show that women are safer drivers than men. This data doesn’t prove that women are better drivers. Men and women have at-fault accidents at about the same rate, but men get into accidents with more damage. Not only are claims higher, but men receive more major tickets such as driving while intoxicated (DWI) or driving recklessly.

The information below visualizes the comparison of Honda CR-V insurance costs for male and female drivers. Data assumes no driving violations, no at-fault accidents, full coverage, $100 deductibles, single marital status, and no discounts are applied.

Vehicle options that lower premiums – Choosing a vehicle that has an advanced theft prevention system can save you some money. Systems that thwart thieves such as OnStar, LoJack tracking, and tamper alarms all aid in stopping vehicle theft.

Improve your credit history – An insured’s credit rating can be an important factor in your rate calculation. So if your credit history can use some improvement, you may save money insuring your Honda CR-V by improving your rating. Insureds that have high credit scores tend to be less risk to insure than drivers with worse credit.

Driving citations will cost you – Having a clean driving record has a huge affect on how much you pay. Just one speeding ticket may increase your cost substantially. Drivers with clean records get better rates compared to bad drivers. Drivers who have multiple violations such as reckless driving or DUI may find they need to submit a SR-22 or proof of financial responsibility with their state’s department of motor vehicles in order to legally drive a vehicle.

The illustration below shows how speeding tickets and at-fault claims drive up Honda CR-V car insurance rates for different age groups. The rates are based on a married female driver, full coverage, $500 deductibles, and no additional discounts are factored in.

Honda CR-V claim data – Insurance companies analyze past claim statistics as a tool for profitable underwriting. Models that have increased losses will have higher premium rates. The table below shows the collected loss data for Honda CR-V vehicles.

For each coverage type, the statistical loss for all vehicles, regardless of make, model or trim level, is a value of 100. Numbers under 100 mean the vehicle has better than average losses, while percentages above 100 point to more frequent losses or statistically larger losses.

Insurance Loss Ratings for Honda CR-V Vehicles
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Honda CR-V 4dr 2WD 68 81 58 93 86 77
Honda CR-V 4dr 4WD 69 82 69 90 87 78

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

The most affordable rates come from being thorough

While you’re price shopping online, you should never buy less coverage just to save a little money. In many instances, someone dropped collision coverage to discover at claim time that they should have had better coverage. Your objective should be to get the best coverage possible at the best price but still have enough coverage for asset protection.

Insureds change insurance companies for many reasons like delays in paying claims, high prices, extreme rates for teen drivers or even not issuing a premium refund. It doesn’t matter why you want to switch finding the right car insurance provider is pretty simple and you could end up saving a buck or two.

We just covered many ways to compare Honda CR-V insurance prices in Plano. The key thing to remember is the more price quotes you have, the more likely it is that you will get a better rate. You may even find the biggest savings come from a small local company.

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