How to Compare Plano Honda Accord Insurance

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Amazingly, a large majority of consumers have purchased from the same company for four years or more, and almost 40% of drivers have never even compared quotes to find affordable rates. Texas consumers could save almost 70% each year just by getting comparison quotes, but they assume it's a waste of time to compare rates.

Insurance quote for Honda Accord in PlanoThe most effective way to find low-cost Honda Accord insurance in Plano is to start doing a yearly price comparison from companies in Texas.

  1. Spend some time learning about the different coverages in a policy and the measures you can control to prevent high rates. Many rating criteria that cause rate increases such as your driving record and an imperfect credit history can be amended by paying attention to minor details.
  2. Obtain price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only quote rates from a single company like GEICO or Allstate, while independent agents can quote prices from multiple companies.
  3. Compare the new rate quotes to your existing policy to see if cheaper Accord coverage is available in Plano. If you can save money and switch companies, verify that coverage does not lapse between policies.
  4. Give proper notification to your current agent or company of your decision to cancel your current coverage and submit a signed application and payment to the newly selected company. Once received, safely store the certificate verifying coverage in your vehicle's glove compartment or console.

A key point to remember is to use identical coverages on each quote request and and to get rates from as many different insurance providers as possible. This provides an apples-to-apples comparison and plenty of rates choose from.

The best way we recommend to compare policy rates for Honda Accord insurance in Plano takes advantage of the fact auto insurance companies participate in a system to compare their rates. The only thing you need to do is provide a small amount of information such as your general credit rating, driver ages, the year, make and model of vehicles, and if your license is active. That rating data is instantly sent to multiple companies and you receive quotes very quickly.

To check Honda Accord insurance prices now, click here and enter your zip code.

The providers in the list below can provide price comparisons in Texas. If multiple companies are listed, we recommend you click on several of them in order to get a fair rate comparison.

Honda Accord insurance rate analysis

The rate table displayed next outlines a range of insurance policy prices for Honda Accord models. Being more informed about how rate quotes are figured is important for making decisions when choosing a new policy provider.

Honda Accord Insurance Rates in Plano, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Accord LX 4-Dr Sedan $136 $264 $366 $22 $110 $898 $75
Accord EX 4-Dr Sedan $136 $264 $366 $22 $110 $898 $75
Accord LX-P 4-Dr Sedan $136 $264 $366 $22 $110 $898 $75
Accord EX-L 4-Dr Sedan $156 $322 $366 $22 $110 $976 $81
Accord EX 2-Dr Coupe $156 $378 $486 $28 $146 $1,194 $100
Accord LX-S 2-Dr Coupe $156 $378 $486 $28 $146 $1,194 $100
Accord EX-L 2-Dr Coupe $176 $378 $486 $28 $146 $1,214 $101
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Data rating is based on single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Estimates do not factor in vehicle garaging location which can impact rates significantly.

Auto insurance deductibles

One of the hardest decisions when shopping for auto insurance is which deductible level should you buy. The following insurance rates illustrate the rate fluctuation when you choose different insurance deductibles. The first rate table uses a $100 comprehensive and collision deductible and the second set of rates uses a $500 deductible.

Honda Accord insurance premium estimates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Accord LX 4-Dr Sedan $286 $486 $324 $20 $96 $1,237 $103
Accord EX 4-Dr Sedan $286 $486 $324 $20 $96 $1,237 $103
Accord LX-P 4-Dr Sedan $286 $486 $324 $20 $96 $1,237 $103
Accord EX-L 4-Dr Sedan $328 $592 $324 $20 $96 $1,385 $115
Accord EX 2-Dr Coupe $328 $698 $430 $26 $128 $1,635 $136
Accord LX-S 2-Dr Coupe $328 $698 $430 $26 $128 $1,635 $136
Accord EX-L 2-Dr Coupe $370 $698 $430 $26 $128 $1,677 $140
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Honda Accord insurance premium estimates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Accord LX 4-Dr Sedan $208 $328 $324 $20 $96 $976 $81
Accord EX 4-Dr Sedan $208 $328 $324 $20 $96 $976 $81
Accord LX-P 4-Dr Sedan $208 $328 $324 $20 $96 $976 $81
Accord EX-L 4-Dr Sedan $240 $400 $324 $20 $96 $1,080 $90
Accord EX 2-Dr Coupe $240 $472 $430 $26 $128 $1,296 $108
Accord LX-S 2-Dr Coupe $240 $472 $430 $26 $128 $1,296 $108
Accord EX-L 2-Dr Coupe $270 $472 $430 $26 $128 $1,326 $111
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Table data does not factor in vehicle garaging location which can increase or decrease premium rates considerably.

We can estimate from the data above that using a $100 deductible costs an average of $25 more each month or $300 annually than buying the higher $500 deductible. Because you would pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you normally average more than 16 months between claim filings, you would probably come out ahead if you decide on a higher deductible.

Men versus women drivers and insurance cost

The information below shows the comparison of Honda Accord insurance costs for male and female drivers. The information is based on no claims or driving violations, comp and collision included, $1,000 deductibles, single status, and no discounts are applied.

Full coverage rates compared to liability-only

The chart below shows the difference between Honda Accord auto insurance costs with full physical damage coverage and with liability coverage only. The premium estimates are based on a clean driving record, no claims, $100 deductibles, drivers are not married, and no discounts are factored in.

Should you be buying full coverage?

There isn't a written rule that is best for determining when to drop physical damage coverage on your policy, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than about 10% of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.

For example, let's pretend your Honda Accord replacement cost is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $4,000 after you pay the deductible. If you are paying over $400 annually to have full coverage, the it may be a good time to stop paying for full coverage.

There are a few cases where removing full coverage is not financially feasible. If you have an outstanding loan on your vehicle, you are required to maintain full coverage to protect the lienholder's interest. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should keep full coverage on your policy.

Three main reasons to buy auto insurance

Despite the fact that auto insurance is not cheap in Plano, insurance is required by state law in Texas and it also provides benefits you may not be aware of.

  • Most states have mandatory insurance requirements which means you are required to carry specific minimum amounts of liability insurance in order to license the vehicle. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
  • If you have a lien on your Honda, most lenders will make it a condition of the loan that you buy full coverage to ensure loan repayment if the vehicle is totaled. If you let the policy lapse, the lender may have to buy a policy to insure your Honda at a significantly higher premium and force you to reimburse them much more than you were paying before.
  • Auto insurance preserves your car and your assets. It also can pay for many types of medical costs that are the result of an accident. One of the most valuable coverages, liability insurance, will also pay to defend you in the event you are sued. If you receive damage to your vehicle caused by a storm or accident, your policy will pay all costs to repair after the deductible has been paid.

The benefits of having insurance outweigh the cost, especially with large liability claims. According to a recent study, the average American driver is currently overpaying as much as $800 each year so you should quote and compare rates once a year at a minimum to make sure the price is not too high.

Honda Accord Insurance Costs Can Be Reduced

When buying auto insurance it's important to understand the factors that aid in calculating the price you pay for auto insurance. If you have a feel for what controls the rates you pay, this allows you to make good choices that may result in big savings. Multiple criteria are part of the calculation when quoting car insurance. Some of the criteria are obvious like an MVR report, but other criteria are more transparent like where you live and annual miles driven.

  • Insure car and home with the same company - Most insurers apply better rates to insureds who consolidate policies with them in the form of a multi-policy discount. Even if you already get this discount, you still need to compare other Plano Accord insurance rates to guarantee you are still saving the most.There is a chance you can save even more than the discount by splitting coverages up.
  • Careless drivers pay higher rates - Whether or not you get tickets has a big impact on rates. Having a single speeding ticket or other violation may cause rates to rise twenty percent or more. Careful drivers get better prices than their less careful counterparts. People who have license-revoking tickets like reckless driving or DUI might be required by their state to submit a SR-22 form with their state in order to legally drive a vehicle.

    The information below illustrates how violations and fender-benders influence Honda Accord insurance prices for different age groups. The data assumes a married female driver, comprehensive and collision coverage, $500 deductibles, and no other discounts are factored in.

  • Always have auto insurance - Letting your insurance expire can be a quick way to increase your renewal premiums. In addition to paying higher premiums, getting caught without coverage can result in fines and jail time.
  • Youthful drivers cost more - Youthful drivers in Texas tend to be easily distracted with other occupants in the car so auto insurance rates are higher. Mature drivers are shown to be more cautious, are lower risk to insure, and get fewer tickets.

    The data below uses these variables: single driver, full coverage with $100 deductibles, and no discounts or violations.

  • Get cheaper prices after the wedding - Having a significant other actually saves money on your auto insurance policy. Having a spouse generally demonstrates drivers are more financially stable and statistics show drivers who are married file infrequent claims.
  • Choose high NHTSA crash test ratings and save - Vehicles with good safety scores cost less to insure. Vehicles built for safety protect occupants better and any reduction in injury severity means less money paid by your insurance company and cheaper rates on your policy. If your Honda Accord is rated at a minimum an "acceptable" rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may be receiving a better rate.
  • Loss statistics for a Honda Accord - Auto insurance companies study historical loss data to calculate a rate that offsets possible losses. Models that the data determines to have a higher amount or frequency of claims will have higher rates for specific coverages.

    The data below shows the compiled insurance loss statistics for Honda Accord vehicles. For each insurance policy coverage type, the loss probability for all vehicles, regardless of make or model, is set at 100. Numbers under 100 represent a good loss history, while values that are above 100 indicate a higher chance of having a claim or tendency to have larger claims.

    Auto Insurance Loss Data for Honda Accord Models
    Specific Honda Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Honda Accord 91 85 90 122 117 94
    Honda Accord Hybrid 96 80 98 89 76 84
    Honda Accord Crosstour 4dr 2WD 85 97 83 122 113 94
    Honda Accord Crosstour 4dr 4WD 99 102 94 120 93
    BETTER
    AVERAGE
    WORSE

    Empty fields indicate not enough data collected
    Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Affordable insurance premiums are possible

Cheaper insurance in Plano is definitely available on the web and from local agencies, and you need to price shop both to have the best rate selection. Some companies don't offer price quotes online and most of the time these regional insurance providers work with independent insurance agencies.

As you quote Plano car insurance, you should never reduce needed coverages to save money. Too many times, someone dropped uninsured motorist or liability limits and discovered at claim time that it was a big mistake. Your goal is to purchase plenty of coverage for the lowest cost while still protecting your assets.

People leave their current company for many reasons like delays in paying claims, lack of trust in their agent, high rates after DUI convictions and even high prices. Regardless of your reason, switching companies is less work than it seems.

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