Auto Insurance Rate Quotes for a Honda Element in Jacksonville

Searching for lower-priced Honda Element insurance in Jacksonville? Trying to come up with a payment for expensive insurance can eat up your personal savings and maybe even restrict other spending. Price shopping at each renewal can lower your rates and help to cut your insurance bill.

Unbelievable but true according to a study a large majority of drivers in Florida have stayed with the same insurance company for more than four years, and nearly the majority have never quoted insurance rates at all. Many drivers in the U.S. could save an average of approximately $860 each year by just comparing quotes, but they underestimate how much savings they would realize if they switched to a cheaper policy.

Because there are so many different company options, it’s difficult to locate the lowest price insurer.

It’s important to get comparison quotes once or twice a year since prices are rarely the same from one policy term to another. If you had the best deal on Honda Element insurance in Jacksonville a couple years back there is a good chance you can find better rate quotes now. Forget all the misinformation about insurance because you’re about to learn how to use the internet to find the best coverage while lowering your premiums.

Finding affordable insurance coverage in Jacksonville is quite easy if you know the best way to do it. If you are paying for car insurance now, you will definitely be able to get lower rates using the ideas you’re about to read. But Florida consumers must understand the way insurance companies calculate their prices because it varies considerably.

It’s important to know that comparing more rates from different companies increases your odds of finding the best rates. Some insurance companies are not set up to provide Jacksonville Element insurance quotes online, so it’s important to compare price quotes from them, too.

The companies shown below are our best choices to provide comparison quotes in Jacksonville, FL. If the list has multiple companies, we recommend you compare several of them in order to find the most competitive rates.

Car insurance statistics for a Honda Element

The coverage table shown next covers a range of rate quotes for Honda Element models. Having a good understanding how auto insurance policy rates are figured is important for making smart choices when buying a car insurance policy.

Premium data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Table data does not factor in specific location which can affect premiums greatly.

Physical damage deductibles

One of the most common car insurance questions is the level to set your comp and collision deductibles. The rates below summarize the rate difference of buying low and high deductibles. The first pricing table uses a $250 deductible for comp and collision and the second data table uses a $500 deductible.

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Price information does not factor in Jacksonville location which can alter prices significantly.

We can estimate from the data above that using a $250 deductible costs approximately $15 more each month or $180 each year than buying the higher $500 deductible. Because you would pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you tend to have at least 17 months between claim filings, you would save money if you choose a higher deductible.

The diagram below demonstrates how deductibles and can impact Honda Element insurance premiums for different ages of insureds. Data assumes a married female driver, full physical damage coverage, and no discounts are factored in.

How violations and accidents impact rates

The chart below illustrates how traffic citations and accidents increase Honda Element yearly insurance costs for different ages of insureds. The premiums assume a married female driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.

Full coverage or liability only

The diagram below shows the difference between Honda Element annual premium costs when comparing full coverage to liability only. Data assumes no accidents or driving violations, $1,000 deductibles, single marital status, and no discounts are applied.

When to buy liability coverage only

There is no set guideline to eliminate full coverage on your policy, but there is a broad guideline. If the annual cost of having full coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.

For example, let’s say your Honda Element book value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $2,000 after paying the physical damage deductible. If you are paying in excess of $200 annually for your policy with full coverage, then it might be time to buy liability only.

There are a few cases where eliminating full coverage is not a good plan. If you haven’t paid off your loan, you have to carry full coverage to satisfy the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.

Three main reasons to buy auto insurance

Despite the potentially high cost of Honda Element insurance, buying auto insurance is required for several reasons.

• Most states have compulsory liability insurance requirements which means state laws require a minimum amount of liability insurance coverage if you drive a vehicle. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
• If your Honda Element has a loan, it’s most likely the lender will require you to carry insurance to guarantee loan repayment. If you do not keep the policy in force, the bank may buy a policy for your Honda at a much higher premium rate and require you to pay a much higher amount than you were paying before.
• Insurance protects your vehicle and your assets. It will also provide coverage for medical expenses for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, also pays expenses related to your legal defense if someone files suit against you as the result of an accident. If your car is damaged in a storm or accident, comprehensive and collision coverage will pay all costs to repair after the deductible has been paid.

The benefits of carrying enough insurance definitely exceed the cost, specifically if you ever have a liability claim. In a recent study of 1,000 drivers, the average customer overpays as much as $865 each year so compare quotes from several companies at least once a year to save money.

What insurance coverages do you need?

Knowing the specifics of a insurance policy can be of help when determining appropriate coverage for your vehicles. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy. These are the normal coverages available from insurance companies.

Comprehensive auto coverage

This will pay to fix damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things like hitting a bird, hail damage, a tree branch falling on your vehicle and vandalism. The maximum payout you’ll receive from a claim is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

Medical payments and PIP coverage

Med pay and PIP coverage pay for short-term medical expenses for things like pain medications, doctor visits and dental work. They are often used to fill the gap from your health insurance policy or if you do not have health coverage. They cover you and your occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

UM/UIM (Uninsured/Underinsured Motorist) coverage

Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they are uninsured or don’t have enough coverage. Covered losses include injuries to you and your family and damage to your Honda Element.

Since many Florida drivers carry very low liability coverage limits (which is 10/20/10), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Liability car insurance

Liability coverage provides protection from injuries or damage you cause to a person or their property by causing an accident. It protects you against other people’s claims, and does not provide coverage for your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have liability limits of 10/20/10 which means $10,000 in coverage for each person’s injuries, a total of $20,000 of bodily injury coverage per accident, and $10,000 of coverage for damaged property.

Liability insurance covers claims such as pain and suffering, repair bills for other people’s vehicles, attorney fees and court costs. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford. Florida requires drivers to carry at least 10/20/10 but you should think about purchasing better liability coverage.

The illustration below demonstrates why minimum state limits may not provide you with enough coverage.

Collision coverage

This pays to fix your vehicle from damage caused by collision with another car or object. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage pays for claims like crashing into a building, backing into a parked car, colliding with a tree, damaging your car on a curb and rolling your car. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. It’s also possible to raise the deductible on your Element to save money on collision insurance.