Buying the cheapest auto insurance for a Honda Accord doesn’t take a ton of time, but it relies on a very complex rating algorithm that uses multiple factors such as the mileage of your daily commute, your credit history, and your choice of deductibles. North Carolina drivers pay on average $644 per year to insure their Accord, but that amount is an estimation using a 30-year-old married female driver with full physical damage coverage and $500 deductibles.
But there is a good chance that you are not 30 years old and maybe not even female, maybe you are single instead of married, and you need different coverage limits than the sample rates. Having even a minor difference in the factors used in pricing a policy could end up with a large change in the cost of a policy.
Auto insurance requires individual risk assessment, so the only way to find the cheapest insurance price for your Honda is to compare as many rates as possible. Do a quick rate comparison now and you will be able to see rates from top-rated car insurance companies that insure vehicles in North Carolina.
Vehicle trim level will likely have an effect on the yearly cost, so the rate you pay to insure a Accord LX 4-Dr Sedan trim level will be $228 cheaper than the price to insure the more costly Accord EX-L 2-Dr Coupe model, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Accord LX 4-Dr Sedan||$132||$210||$216||$12||$64||$634||$53|
|Accord EX 4-Dr Sedan||$132||$210||$216||$12||$64||$634||$53|
|Accord LX-P 4-Dr Sedan||$132||$210||$216||$12||$64||$634||$53|
|Accord EX-L 4-Dr Sedan||$152||$256||$216||$12||$64||$700||$58|
|Accord EX 2-Dr Coupe||$152||$302||$286||$16||$86||$842||$70|
|Accord LX-S 2-Dr Coupe||$152||$302||$286||$16||$86||$842||$70|
|Accord EX-L 2-Dr Coupe||$172||$302||$286||$16||$86||$862||$72|
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Prices above based on married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, multi-vehicle, and safe-driver. Estimates do not factor in specific zip code location which can revise auto insurance rates greatly.
Insuring your vehicle with a good quality insurance provider can be a challenge considering how many companies sell insurance in North Carolina. The information in the lists below could help you pick which car insurance companies to look at comparing prices from.
The ratings below are for companies with a nationwide focus, so smaller regional companies are not taken into consideration for this list. If you would like to check rates and find cheaper insurance for a Honda Accord, simply click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
How to get discounts on Greensboro auto insurance rates
Insurers that provide coverage for a Honda Accord may also give you policy discounts that could lower prices by 40% or more if you meet certain criteria. Companies and their offered discounts are shown below.
- Mercury Insurance has savings for good driver, anti-theft, good student, professional/association, accident-free, and low natural disaster claims.
- Farmers Insurance may offer discounts for good student, switch companies, early shopping, distant student, mature driver, teen driver, and electronic funds transfer.
- Farm Bureau policyholders can earn discounts including youthful driver, safe driver, good student, driver training, 55 and retired, multi-policy, and multi-vehicle.
- State Farm includes discounts for Drive Safe & Save, Steer Clear safe driver discount, good student, passive restraint, and multiple policy.
- Allstate offers discounts including auto/life discount, utility vehicle, passive restraint, new car, eSmart discount, and senior citizen.
- GEICO discounts include membership and employees, anti-theft, air bags, five-year accident-free, and multi-vehicle.
The information below illustrates the comparison of yearly insurance costs with and without discounts applied to the premium. The price estimates are based on a female driver, no claims or driving violations, North Carolina state minimum liability limits, full physical damage coverage, and $100 deductibles.
The first bar for each age group shows premium with no discounts. The lower bar shows the rates with accident-free, multiple vehicle, claim-free, safe-driver, anti-theft, and homeowner discounts applied. When these discounts are applied, the average savings per year on auto insurance for a Honda Accord is 28% or $510.
Safe drivers pay less for auto insurance
The recommended way to maintain cheap auto insurance premiums for an Accord is to pay attention while driving and avoid getting tickets or having accidents. The chart below highlights how traffic violations and fender-benders impact auto insurance costs for different ages of insureds. The price estimates are based on a single male driver, full physical damage coverage, $500 deductibles, and no discounts are taken into consideration.
In the prior example, the average cost of car insurance in Greensboro per year with a clean driving record and no accidents is $1,573. Factor in two speeding tickets and the average cost surges to $2,077, an increase of $504 each year. Now include one accident along with the two speeding tickets and the yearly cost of auto insurance for a Honda Accord goes up to an average of $2,594. That’s an increase of $1,021, or $85 per month, just for not being more responsible behind the wheel!
The diagram below demonstrates how choosing different deductibles can affect insurance costs when getting quotes for cheap insurance for a Honda Accord. The premium estimates are based on a married female driver, full physical damage coverage, and no other discounts are factored in.
The chart above illustrates that a 30-year-old driver could reduce rates by $196 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $298 by changing to a $1,000 deductible. Young drivers, like the 20-year-old category, can save $422 or even more by using higher deductibles when buying full coverage. When choosing a higher deductible, it’s a good idea to have plenty of money set aside to satisfy the extra out-of-pocket expense, which is the one shortcoming of high deductibles.