How to Save on Honda Accord Insurance in Raleigh

How many times have you told yourself it’s time to shop around for more affordable Honda Accord insurance in Raleigh? Did a good deal turn into high-priced Honda Accord insurance in Raleigh? Believe me when I say there are many Raleigh drivers thinking the same thing.

It’s well known that car insurance companies want to keep you from comparing prices. Insureds who compare rates at least once a year are inclined to buy a different policy because there is a high probability of finding a more affordable policy. A recent survey revealed that people who made a habit of comparing rate quotes saved $3,500 over four years compared to drivers who never shopped around.

If finding budget-friendly rates on car insurance in Raleigh is your ultimate goal, then having a good understanding how to shop and compare coverage rates can make the process more efficient.

Since you have so many different company options, it can be challenging to locate a lower cost insurer.

Companies offering Honda Accord insurance in North Carolina

The providers in the list below provide comparison quotes in Raleigh, NC. To find cheap auto insurance in Raleigh, it’s a good idea that you visit two to three different companies in order to get a fair rate comparison.

Coverage statistics and figures

The table below highlights estimates of insurance coverage prices for Honda Accord models. Being more informed about how insurance premiums are determined is important for making smart choices when comparing insurance rates.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, multi-policy, and claim-free. Rate quotes do not factor in vehicle location which can revise coverage prices significantly.

Policy deductibles

One common question asked by Raleigh drivers is how high or low should comp and collision deductibles be. The figures shown below highlight the rate differences between high and low deductibles. The first set of prices uses a $250 physical damage coverage deductible and the second price chart uses a $1,000 deductible.

Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Rates do not factor in the specific area where the vehicle is garaged which can lower or raise price quotes significantly.

Based on the above data, using a $250 deductible will cost in the ballpark of $17 more each month or $204 for a full year than opting for the higher $1,000 deductible. Due to the fact that you would have to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you have at a minimum 44 months between claims, you would probably be better off if you choose a higher deductible.

The information below highlights how deductible choice and can affect Honda Accord yearly insurance costs for different age groups of insureds. The rate quotes are based on a single female driver, full physical damage coverage, and no other discounts are factored in.

Lower rate quotes on Honda Accord insurance in Raleigh with these car insurance discounts

Not many people think insurance is cheap, but you might be missing out on some discounts that many people don’t even know exist. A few discounts will automatically apply at quote time, but some discounts are required to be asked about in order for you to get them. If you are not receiving all the discounts you qualify for, you are paying more than you should be.

• Membership in Organizations – Joining certain professional organizations may earn a discount on your next renewal.
• Theft Prevention System – Vehicles optioned with advanced anti-theft systems are stolen with less frequency and qualify for as much as a 10% discount.
• Smart Student Discounts – Performing well in school can be rewarded with saving of up to 25%. You can use this discount normally up to age 25.
• Government Employees – Being employed by or retired from a federal job may qualify for a discount when you quote Raleigh auto insurance depending on your company.
• Discounts for New Vehicles – Insuring a new Accord can save you some money because new vehicles are generally safer.
• Onboard Data Collection – Drivers that enable driving data submission to look at when and where they use their vehicle by using a telematics device in their vehicle like Drivewise from Allstate or In-Drive from State Farm could save a few bucks if they show good driving skills.
• Senior Citizens – Drivers that qualify as senior citizens can get a small decrease in premiums.
• Low Mileage Discounts – Keeping the miles down on your Honda could qualify for slightly better prices than normal.

Keep in mind that most discount credits are not given to the whole policy. Most only apply to specific coverage prices like medical payments or collision. If you do the math and it seems like adding up those discounts means a free policy, companies wouldn’t make money that way.

The chart below visualizes the comparison of Honda Accord car insurance costs with and without some available policy discounts. The premiums are based on a female driver, a clean driving record, no claims, North Carolina state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, homeowner, marriage, claim-free, safe-driver, and multi-policy discounts applied.

Large car insurance companies and some of the premium reductions they offer are:

• GEICO discounts include good student, multi-vehicle, daytime running lights, emergency military deployment, anti-lock brakes, and military active duty.
• Mercury Insurance has discounts for low natural disaster claims, accident-free, good driver, good student, location of vehicle, and ease of repair.
• Farmers Insurance offers premium reductions for switch companies, early shopping, electronic funds transfer, pay in full, and mature driver.
• Auto-Owners Insurance offers discounts including multiple vehicles, paid in full, group or association, good student, air bags, and teen driver.
• Liberty Mutual may include discounts for exclusive group savings, safety features, newly married, hybrid vehicle, and multi-car.
• SAFECO may offer discounts for safe driver, multi-car, anti-lock brakes, teen safe driver, bundle discounts, and accident prevention training.
• Progressive may have discounts that include online signing, online quote discount, homeowner, good student, and multi-vehicle.
• USAA offers discounts for multi-policy, good student, defensive driver, annual mileage, vehicle storage, and safe driver.

Double check with each insurance company which discounts can lower your rates. Discounts may not apply in your state. To find insurers that offer the discounts shown above in Raleigh, click here to view.

Informed Decisions Result in Lower Insurance Prices

Lots of factors are used in the calculation when you get a price on insurance. Most are fairly basic like a motor vehicle report, although some other factors are not as apparent like where you live or how financially stable you are. A large part of saving on insurance is knowing some of the elements that are used to determine the rates you pay for insurance. When you know what positively or negatively determines base rates, this enables you to make decisions that could result in lower insurance prices.

Premiums are lower the older you get – Older, more experienced drivers are more responsible, tend to file fewer claims, and are safer drivers. Drivers with little experience are proven to be more careless with other occupants in the car so insurance rates are higher.

The following data uses these assumptions: single driver, full coverage with $500 deductibles, and no discounts or violations.

Remove unneeded extra coverages – Policies have extra bells and whistles you can purchase on your insurance policy. Things like personal injury protection, accident forgiveness, and term life insurance could be just wasting money. They may seem like a good idea when buying your policy, but now you might not need them so remove them from your policy.

Do males or females drive better? – Over the last 30 years, statistics show females are less aggressive when driving. The data does not necessarily mean that men are WORSE drivers than women. Both genders are responsible for accidents in similar percentages, but the men have costlier accidents. Men also receive more major tickets such as reckless driving. Young men ages 16 to 20 generally have the highest accident percentage so it costs more to insure them.

The information below shows the difference between Honda Accord premium costs for male and female drivers. Data assumes no accidents or driving violations, comprehensive and collision coverage, $250 deductibles, drivers are single, and no discounts are applied.

Save miles and save money – The higher the mileage driven in a year’s time the more you’ll pay to insure it. Most companies calculate prices based on their usage. Autos that are left in the garage can get a lower rate than vehicles that are driven to work every day. It’s always a good idea to double check that your declarations sheet reflects the correct usage, because improper ratings can cost you money. An incorrectly rated Accord can result in significantly higher rates.

Insurance policy lapses raise premiums – Not maintaining insurance can get your license suspended and insurance companies will penalize you for letting your insurance lapse. In addition to paying higher premiums, getting caught without coverage may result in fines and jail time.

Does your job raise your rates? – Jobs like military generals, architects, and miners generally pay higher rates than average due to intense work-related stress and long work days. On the other hand, occupations like professors, engineers and homemakers have the lowest average rates.

Loss statistics for a Honda Accord – Companies take into consideration historical loss data for every vehicle as a tool for profitable underwriting. Vehicles that historically have higher prevalence or dollar amount of losses will have higher rates for specific coverages.

The table below illustrates the insurance loss data used by companies for Honda Accord vehicles. For each coverage type, the claim amount for all vehicles, regardless of make, model or trim level, is a value of 100. Values that are under 100 indicate a favorable loss history, while values that are above 100 indicate higher probability of having a loss or an increased probability of a larger loss.

Get rate quotes but work with a local Raleigh insurance agent

Some people would rather sit down with an agent and doing so can bring peace of mind One of the best bonuses of comparing insurance prices online is the fact that drivers can get the best rates but still work with a licensed agent.

By using this quick form, your insurance data is instantly submitted to agents in your area who will give competitive quotes to get your business. It simplifies rate comparisons since you won’t have to search for an agent as quotes are delivered to you instantly. It’s the lowest rates without the usual hassles of price shopping. If you wish to compare prices from a specific insurance company, don’t hesitate to jump over to their website and fill out their quote form.

Picking an provider requires you to look at more than just a cheap price quote. Any good agent in Raleigh should know the answers to these questions.

• Do they see any coverage gaps in your plan?
• Do they get paid more for recommending certain coverages?
• If your car is in the repair shop, do you have coverage for a rental car?
• Is vehicle mileage a factor when determining depreciation for repairs?
• How is replacement cost determined on your vehicle?
• Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
• Are they properly licensed to sell insurance in North Carolina?

Choose an insurance agent wisely

When researching a reliable insurance agent, it’s important to understand the types of agencies to choose from. Agents in Raleigh are classified as either independent or exclusive.

Exclusive Insurance Agencies

Exclusive insurance agents are contracted to one company like Farmers Insurance and State Farm. Exclusive agents cannot provide rate quotes from other companies so if the price isn’t competitive there isn’t much they can do. Exclusive agents receive extensive training on sales techniques which aids in selling service over price.

Shown below are Raleigh exclusive insurance agents willing to provide price quotes.

More insurance agents

Independent Agencies or Brokers

Agents of this type can quote rates with many companies and that is an advantage because they can write policies with multiple insurance companies and help determine which has the cheapest rates. If your premiums go up, they simply move your policy to a different company and the insured can keep the same agent. If you need lower rates, it’s recommended you get quotes from a couple of independent agencies in order to compare the most rates.

Shown below are Raleigh independent agencies willing to provide comparison quotes.

More insurance agents

Car insurance companies ranked

Insuring your vehicle with a high-quality insurer can be rather challenging considering how many different insurance companies sell coverage in Raleigh. The company rank data listed below may help you pick which providers you want to consider when comparing rate quotes.

Top 10 Raleigh Car Insurance Companies Overall

1. Travelers
2. USAA
3. Mercury Insurance
4. AAA Insurance
5. Nationwide
6. Allstate
7. State Farm
8. The Hartford
9. Safeco Insurance
10. Progressive

Persistence is the key to cheaper rates

Low-cost Honda Accord insurance in Raleigh can be purchased from both online companies as well as from insurance agents, and you need to price shop both to have the best selection. Some auto insurance companies do not provide the ability to get a quote online and many times these smaller providers only sell coverage through local independent agents.

You just learned a lot of information how to shop for Honda Accord insurance online. The key concept to understand is the more times you quote, the better chance you’ll have of finding cheaper Raleigh auto insurance quotes. Consumers may even find the best rates are with a small mutual company. Some small companies may often insure only within specific states and give better rates than their larger competitors like Progressive and GEICO.

Steps to buying cheaper Honda Accord insurance in Raleigh

The recommended way to find the cheapest price for Honda Accord insurance is to regularly compare price quotes from insurers in Raleigh. This can be done by following these guidelines.

• First, spend some time learning about auto insurance and the steps you can take to prevent expensive coverage. Many factors that result in higher rates like traffic citations and a substandard credit score can be improved by paying attention to minor details.
• Second, compare prices from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from a single company like GEICO and State Farm, while agents who are independent can provide rate quotes from multiple companies.
• Third, compare the new rate quotes to your existing coverage to determine if you can save on Accord insurance. If you can save money and switch companies, make sure there is no coverage gap between policies.

One thing to remember is to compare the same physical damage deductibles and liability limits on each price quote and and to analyze as many companies as possible. Doing this helps ensure a level playing field and a better comparison of the market.

For more information, feel free to visit the resources below:

• Tread Depth and Tire Safety (State Farm)
• Who Has Cheap Raleigh Auto Insurance Rates for Welfare Recipients? (FAQ)
• How Much are Auto Insurance Rates for 17 Year Olds in Raleigh? (FAQ)
• What Auto Insurance is Cheapest for Good Drivers in Raleigh? (FAQ)
• Vehicle Insurance in the U.S. (Wikipedia)
• Medical Payments Coverage (Liberty Mutual)