Affordable Rates for Honda Insight Insurance in Greensboro

Insurance quote for Honda Insight in GreensboroFinding the cheapest insurance for your Honda Insight in North Carolina could be a painful process, but you can follow a few tricks and make it easy. There is a right way and a wrong way to find auto insurance online and we’ll show you the quickest way to price shop coverage for a new or used Honda and find the lowest price.

It’s a good habit to get comparison quotes at least once a year because auto insurance prices tend to go up over time. Even if you got the lowest rates on Honda Insight insurance in Greensboro a few years ago other companies may now be cheaper. There is a lot of bad information regarding Insight insurance on the web, but in a few minutes you can learn a bunch of ideas how to find cheap auto insurance in Greensboro.

If you already have coverage or just want cheaper coverage, use these tips to find better prices without sacrificing coverage. Quoting the lowest-priced coverage in Greensboro is simple if you know the tricks. Shoppers just have to understand how to shop for car insurance from many different companies.

Compare free Greensboro Honda Insight insurance rate quotes

Lowering your Honda Insight insurance rates is actually easier than you may think. Consumers just need to take a few minutes to compare rates to discover which company has the cheapest Honda Insight rate quotes.

The car insurance companies shown below are our best choices to provide price quotes in North Carolina. To buy cheap car insurance in Greensboro, we recommend you visit two to three different companies in order to find the cheapest rates.

Analysis of Honda Insight rates

The premium table displayed next covers different coverage costs for Honda Insight models. Understanding how car insurance premiums are figured can assist in making decisions when shopping your coverage around.

Honda Insight Insurance Rates in Greensboro, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $160 $398 $282 $16 $84 $940 $78
Insight EX $184 $470 $282 $16 $84 $1,036 $86
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Data variables include single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, multi-vehicle, and homeowner. Prices do not factor in vehicle location which can raise or lower insurance rates considerably.

Policy deductible comparison

One of the more difficult decisions when buying auto insurance is the level to set your comp and collision deductibles. The following tables show how much more you’ll pay when you choose different physical damage deductibles. The first set of rates uses a $100 deductible for comp and collision and the second set of prices uses a $1,000 deductible.

Honda Insight insurance prices with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $186 $386 $250 $14 $74 $935 $78
Insight EX $214 $456 $250 $14 $74 $1,033 $86
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Honda Insight insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $104 $204 $250 $14 $74 $646 $54
Insight EX $118 $240 $250 $14 $74 $696 $58
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Rate information does not factor in specific location information which can decrease or increase coverage prices significantly.

Using the data above, we can ascertain that using a $100 deductible costs an average of $26 more each month or $312 every year across all Honda Insight models than choosing the higher $1,000 deductible. Since you would pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you have at a minimum 35 months between claims, you would probably come out ahead if you choose a higher deductible. The illustration below shows a better example of how you can make this decision for your own policy.

Average monthly premium for $100 deductibles: $82
Average monthly premium for $1,000 deductibles (subtract): – $56
Monthly savings from raising deductible: $26
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $26
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 35 months

One big caveat is that a higher deductible level means you will have to pay more of your own money at claim time. That will require some money saved in the event you have to pay more for the deductible.

The chart below shows how choosing a deductible and can increase or decrease Honda Insight yearly insurance costs for each age group. The price estimates are based on a single female driver, comprehensive and collision coverage, and no policy discounts are applied.

Should you buy full coverage?

The example below visualizes the comparison of Honda Insight insurance costs with full physical damage coverage and with liability coverage only. The costs are based on no claims or driving citations, $250 deductibles, drivers are not married, and no discounts are factored in.

When to stop buying full coverage

There is no definitive guideline for dropping comp and collision coverage, but there is a guideline you can use. If the annual cost of having full coverage is about 10% or more of the replacement cost minus the deductible, then you might want to think about dropping full coverage.

For example, let’s pretend your Honda Insight settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $6,000 after paying your deductible. If premiums are more than $600 annually for your policy with full coverage, then you might want to consider buying only liability coverage.

There are some circumstances where dropping physical damage coverage is not advised. If you still owe a portion of the original loan, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should not remove full coverage.

How Insurers Calculate Honda Insight Insurance Costs

Many different elements are used when premium rates are determined. Some of the criteria are obvious like an MVR report, but some are more obscure such as whether you are married or your vehicle rating. The best way to find cheaper car insurance is to take a look at some of the factors that play a part in calculating car insurance rates. If you have some idea of what determines premiums, this allows you to make good choices that can earn you much lower annual insurance costs.

The list below includes some of the things used by your company to calculate rates.

More traffic means higher claims – Choosing to live in a rural area is a positive aspect when talking about car insurance. Fewer drivers and short commutes means reduced accidents. Residents of big cities regularly have congested traffic and longer commute times. The longer drive time statistically corresponds to a higher accident and claim rate.

Do you know you’re credit rating? – Having a bad credit score can be an important factor in calculating your premium rate. So if your credit rating leaves room for improvement, you could pay less to insure your Honda Insight if you clean up your credit. People with very good credit scores tend to be better drivers and file fewer claims than those with lower credit scores.

Car insurance lapses raise premiums – Driving with no insurance is a big no-no and as a result your rates will increase for letting your insurance lapse. In addition to paying higher rates, the inability to provide proof of insurance may result in a revoked license or a big fine. You may need to submit proof of financial responsibility or a SR-22 with the North Carolina motor vehicle department to get your license reinstated.

Is auto insurance cheaper for women or men? – Statistics show women tend to be less risk to insure than men. This data doesn’t prove that men are WORSE drivers than women. Both sexes are in accidents in similar numbers, but men have accidents that have higher claims. They also get ticketed for serious violations such as driving while intoxicated (DWI) or driving recklessly. Male drivers age 16 to 19 are most likely to cause an accident and are penalized with high car insurance rates.

The information below compares Honda Insight auto insurance costs for male and female drivers. The rates are based on a clean driving record, no claims, full coverage, $500 deductibles, single marital status, and no discounts are taken into consideration.

Save money with higher comp and collision deductibles – Deductibles for physical damage state the amount of money you are required to spend out-of-pocket if the claim is covered. Physical damage coverage, termed comprehensive and collision coverage on your policy, insures against damage to your car. Some coverage claims are a windshield broken by a bird, collision with a deer, or theft of your vehicle. The more you pay before a claim is paid (deductible), the better rate you will receive.

More than one policy can earn a discount – Most companies provide lower prices to buyers who have multiple policies with them. It’s known as a multi-policy discount. Discounts can add up to ten or even fifteen percent. Even though this discount sounds good, it’s always a smart idea to check prices from other companies to help guarantee you have the best rates.There is a good possibility that you can save even more by buying from different companies

Insurance claims cost money – Auto insurance companies in North Carolina give better rates to insureds who do not rely on their insurance for small claims. If you frequently file small claims, you can look forward to either policy cancellation or increased premiums. Insurance coverage is meant to be used in the event of larger claims.

It may be expensive, but it’s not optional

Even though Greensboro Insight insurance rates can get expensive, buying insurance may be mandatory for several reasons.

The benefits of buying enough insurance definitely exceed the price paid, particularly for liability claims. Unknowingly, the average driver overpays as much as $750 every year so you should quote and compare rates at every policy renewal to ensure rates are competitive.