Buying affordable coverage for a Honda Accord is fairly easy, but it relies on lots of different factors such as whether you are married or single, whether you are claim-free, and your motor vehicle report. Drivers pay around $1,387 a year for Accord insurance, but that price is using a 50-year-old single male driver with full coverage and $100 deductibles.
There’s a high likelihood you’re not a 50-year-old male, married instead of single, or maybe you just want liability only. Auto insurance is unique to each driver, so the only real way to find the most affordable coverage for your Honda is to do a thorough rate comparison. To cut your rates now, get a free quote and you can get prices from the best auto insurance companies that insure Honda vehicles in Florida.
The trim level of your Honda will influence the cost of coverage, so the rate you pay to insure a Accord LX 4-Dr Sedan will be $498 less expensive the cost to insure the high end 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||$268||$548||$400||$24||$120||$1,360||$113|
|Accord EX 4-Dr Sedan||$268||$548||$400||$24||$120||$1,360||$113|
|Accord LX-P 4-Dr Sedan||$268||$548||$400||$24||$120||$1,360||$113|
|Accord EX-L 4-Dr Sedan||$308||$668||$400||$24||$120||$1,520||$127|
|Accord EX 2-Dr Coupe||$308||$786||$532||$32||$160||$1,818||$152|
|Accord LX-S 2-Dr Coupe||$308||$786||$532||$32||$160||$1,818||$152|
|Accord EX-L 2-Dr Coupe||$348||$786||$532||$32||$160||$1,858||$155|
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Data variables include single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Premium amounts do not factor in specific zip code location which can raise or lower premiums substantially.
Best car insurance company in Florida
Finding the best insurer is difficult considering how many choices drivers have in Florida. The ranking information listed below may help you analyze which coverage providers you want to consider when looking for cheaper rates. These ratings only include companies with a nationwide focus, so companies that focus mainly on Florida business are not factored into the list.
|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
The illustration below shows how choosing a deductible can affect annual premium costs when quoting cheap insurance for a Honda Accord. The premium estimates are based on a married male driver, full physical damage coverage, and no additional discounts are factored in.
The chart above illustrates that a 30-year-old driver could pocket $320 a year by changing from a $100 deductible up to a $500 deductible, or save $486 by selecting a $1,000 deductible. Young drivers, such as the 20-year-old example, could potentially save as much as $966 annually by choosing larger deductibles on their policy.
If you do decide to increase your deductibles, it is essential to have plenty of discretionary funds to be able to cover the extra out-of-pocket expense associated with higher deductibles.
How to get discounts on Tampa auto insurance
Insurance companies that provide policies for a Honda Accord may additionally offer premium discounts that could reduce prices by as much as 25% or more if you are eligible to receive them. The best car insurance companies and some of the discounts include:
- Travelers offers premium reductions for continuous insurance, multi-car, save driver, IntelliDrive, payment discounts, and student away at school.
- 21st Century offers discounts including homeowners, driver training, student driver, early bird, and 55 and older.
- State Farm may offer discounts for multiple policy, student away at school, Drive Safe & Save, defensive driving training, good student, safe vehicle, and good driver.
- GEICO may include discounts for air bags, defensive driver, daytime running lights, seat belt use, good student, and five-year accident-free.
- SAFECO policyholders can earn discounts including drive less, accident prevention training, teen safe driver, teen safety rewards, and homeowner.
- AAA includes discounts for AAA membership discount, good driver, good student, multi-car, pay-in-full, multi-policy, and education and occupation.
The example below compares insurance costs with and without discounts. The data assumes a male driver, a clean driving record, no claims, Florida 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 vehicle safety, homeowner, claim-free, marriage, multiple vehicle, and accident-free discounts applied. When discounts are applied, theaverage amount saved on car insurance for a Honda Accord is 28% or $659.
Rate difference between full and liability-only coverage
Buying cheaper car insurance should be important to the majority of people, and a good way to lower the cost of insurance for a Honda Accord is to only buy liability coverage. The information below compares insurance costs when comparing full coverage to liability only. The rate quotes are based on a clean driving record, no claims, $1,000 deductibles, drivers are not married, and no discounts are factored in.
If averaged out across all ages, full coverage on your policy costs $1,747 per year over having just liability coverage. That is a big expense that brings up the question if it’s worth it to buy full coverage. There is no set guideline for excluding full coverage, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
For example, let’s say your vehicle’s claim settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company would pay you is $6,000 after the deductible is paid. If you are paying more than $600 annually for full coverage, then you may need to consider dropping full coverage.
There are some conditions where dropping physical damage coverage is not a good idea. If you have an outstanding loan on your vehicle, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not consider dropping full coverage.
The agents shown below can help you make a decision which coverage fits your budget, since some people prefer to have the advice of a professional agent when comparing insurance rates for an Accord. It can be complicated to find the best rates on your own, so getting advice from a licensed Florida insurance agent can add satisfaction knowing you have adequate coverage when you need it most.
To find an auto insurance agency near you, click the button at the bottom of the list.
- Central Florida Insurance Agency of Town ‘N’ Country
7753 W Waters Ave – Tampa, FL 33615 – (813) 885-2900
- Allstate Insurance: Paul H. Phaneuf
3641 W Kennedy Blvd F – Tampa, FL 33609 – (813) 353-0303
- GEICO Insurance Agent
2703 W Kennedy Blvd – Tampa, FL 33609 – (813) 259-1142
- Ray Mathews – State Farm Insurance Agent
15271 Amberly Dr – Tampa, FL 33647 – (813) 978-1898