Honda Accord insurance policy image courtesy of QuoteInspector.com
Finding affordable auto insurance for a Honda Accord relies on a lot of factors such as your age, whether or not you garage your vehicle, and any driving offenses on your record. Drivers pay approximately $1,271 a year for Accord insurance, but that price is an estimation using a 40-year-old single female driver with full coverage and $500 deductibles.
There is a good probability you're not a 40-year-old female, maybe you are married instead of single, or maybe you prefer higher deductibles. Having the smallest difference in policy rating criteria or coverages can make a big difference in the price of coverage.
The different assumptions illustrate why the best way to find the cheapest coverage for your Honda is to do your own rate comparisons.
The trim level of your vehicle will influence the cost of insurance, so the price to insure a Accord LX 4-Dr Sedan will be $448 less than the cost to insure the more well-appointed Accord EX-L 2-Dr Coupe trim level, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Accord LX 4-Dr Sedan||$220||$406||$460||$28||$138||$1,252||$104|
|Accord EX 4-Dr Sedan||$220||$406||$460||$28||$138||$1,252||$104|
|Accord LX-P 4-Dr Sedan||$220||$406||$460||$28||$138||$1,252||$104|
|Accord EX-L 4-Dr Sedan||$252||$494||$460||$28||$138||$1,372||$114|
|Accord EX 2-Dr Coupe||$252||$584||$612||$36||$184||$1,668||$139|
|Accord LX-S 2-Dr Coupe||$252||$584||$612||$36||$184||$1,668||$139|
|Accord EX-L 2-Dr Coupe||$284||$584||$612||$36||$184||$1,700||$142|
|Get Your Own Custom Quote Go|
Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Price estimates do not factor in specific zip code location which can increase or decrease insurance rates noticeably.
Finding reliable, cost effective car insurance is confusing at best, and determining which companies quote the cheapest insurance rates for a Honda Accord will involve a little more work.
Every auto insurer has their own process to set premium rates, so let's take a look at the insurance companies with the overall cheapest rates in Florida. It's a good idea to know that Florida insurance rates are impacted by many factors which can substantially decrease or increase the cost of coverage. This price variation is why it is critical to compare many different companies when trying to get the most economical auto insurance rates for a Honda Accord. Rates can be determined by many factors and change frequently, so the most economical company six months ago may now be quite expensive.
Best Insurance Companies for Your Accord
|Rank||Company||Cost Per Year|
|View More Rates Go|
USAA may have some of the best car insurance rates in Jacksonville at around $957 a year. This is $1,491 less than the average price paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Mercury would also be considered some of the most economical Jacksonville, FL auto insurance companies.
As depicted above, if you currently have coverage with Progressive and switched to Electric, you may see annual savings of around $101. Customers with Mercury may save as much as $168 a year, and Travelers customers might see rate reductions of $180 a year.
Bear in mind that those premiums are averages across all types of drivers and the different vehicles they drive and are not factoring in a specific vehicle garaging location for a Honda Accord. So the auto insurance company that can offer the best rates for your situation may not even be in the top 21 companies shown above. That point stresses why you need to compare rates from multiple companies using your own personal information and vehicle type.
Does it make sense to buy full coverage?
Reducing premiums for insurance should be important to most drivers, and one easy way to pay less for insurance for a Honda Accord is to buy only liability coverage. The illustration below illustrates the comparison of insurance costs with liability coverage only compared to full coverage. The premium estimates are based on no driving violations, no at-fault accidents, $250 deductibles, single marital status, and no discounts are factored in.
Averaged for all age groups, comprehensive and collision coverage on your policy costs $2,973 per year over and above liability coverage. That raises the question when is it safe to stop buying full coverage. There is no definitive formula of when to phase out physical damage insurance, but there is a general guideline you can use. If the annual cost of coverage is more than around 10% of the settlement you would receive from your company, then you might consider buying liability only.
There are some cases where dropping full coverage is not financially feasible. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.
Poor driving habits will raise your insurance rates
In a perfect world, the best way to snag cheap insurance prices in Jacksonville for an Accord is to be a careful driver and avoid at-fault accidents and violations. The chart below highlights how traffic violations and fender-benders can drive up premium costs for different ages of insureds. The data is based on a single female driver, full coverage, $1,000 deductibles, and no discounts are factored in.
The data above shows the average cost of car insurance in Jacksonville per year with no accidents and a clean driving record is $2,224. Get written up for one speeding ticket and the average cost swells to $2,525, an increase of $301 each year. Now add in one accident along with the one speeding ticket and the annual cost of insurance for a Honda Accord increases to an average of $3,367. That's an increase of $1,143, or $95 per month, just for not driving responsibly!
If you prefer to have the advice of a professional agent when trying to find lower insurance rates for an Accord, the insurance agencies listed below are willing to aid you in deciding which auto insurance policy would work best for you.
To find an auto insurance agency close to you, click the button at the bottom of the list.
Mizell Insurance Agency
11893 New Kings Rd - Jacksonville, FL 32219 - (904) 764-3336
Allstate Insurance: Stephanie Ando
3546 St Johns Bluff Rd S #109 - Jacksonville, FL 32224 - (904) 645-8880
Homer St Clair - State Farm Insurance Agent
7305 Merrill Rd - Jacksonville, FL 32277 - (904) 743-7422
Otis Johnson - State Farm Insurance Agent
1629 Race Track Rd Unit 104 - Jacksonville, FL 32259 - (904) 287-1523
How to find low-cost auto insurance for a Honda Accord
It is possible to find better rates, and here are some of the recommended penny-pinching solutions that can help you quote low-cost coverage.
- Do not insure for full coverage
- Higher credit scores can equal lower rates
- Avoid accidents
- Speeding tickets and other violations increase rates
- Increase your policy deductibles
- Drive safe vehicles
- Shop around and save
That last tip is certainly vital, as we stressed in the article above. Coverage rates in Jacksonville adjust often, so you should be ready to switch to a new company if a more affordable rate is found. Brand loyalty is great, but we do not recommend it if it's costing you money that could be spent on other things. Now is a great time to compare prices and find cheaper insurance for a Honda Accord.