Affordable Quotes for Honda Element Insurance in Tampa

Smart shoppers know that insurance companies want to keep your business as long as possible. Drivers who shop for lower prices are inclined to switch auto insurance companies because there is a good probability of finding a lower-priced policy. A recent auto insurance study revealed that people who routinely shopped for cheaper coverage saved about $72 a month compared to other drivers who never shopped for cheaper rates.

If finding the most affordable Honda Element insurance in Tampa is the reason for your visit, then learning about how to find and compare car insurance can save time and money.

Insurance rates Honda Element in TampaIt takes a few minutes, but the best way to find the cheapest price for auto insurance rates in Tampa is to compare prices annually from companies who sell auto insurance in Florida. Prices can be compared by following these steps.

  1. Try to understand auto insurance and the modifications you can make to lower rates. Many rating factors that are responsible for high rates such as speeding tickets, accidents and a low credit rating can be remedied by making minor changes to your lifestyle.
  2. Get rate quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can provide rates from one company like GEICO or Farmers Insurance, while independent agencies can provide prices from many different companies. View companies
  3. Compare the new rate quotes to the premium of your current policy to see if cheaper Element coverage is available. If you find a lower rate quote, verify that coverage does not lapse between policies.
  4. Provide proper notification to your current company of your intention to cancel the current policy. Submit payment and a completed application to your new carrier. As soon as you can, put the certificate verifying proof of insurance along with your vehicle registration.

A good tip to remember is to make sure you enter similar coverage information on each quote request and and to analyze as many carriers as you can. This helps ensure a fair price comparison and a good representation of prices.

Cheap auto insurance in Tampa, FL

The following companies are ready to provide price comparisons in Tampa, FL. To get the best cheap auto insurance in Tampa, FL, we suggest you click on several of them to get the most affordable price.

Honda Element insurance charts and tables

The rate table displayed below covers detailed analysis of insurance coverage prices for Honda Element models. Learning as much as possible about how policy premiums are calculated is important for drivers to make smart buying decisions.

Honda Element Insurance Rates in Tampa, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Element LX 2WD $202 $364 $392 $24 $118 $1,100 $92
Element LX 4WD $202 $364 $392 $24 $118 $1,100 $92
Element EX 2WD $202 $364 $392 $24 $118 $1,100 $92
Element EX 4WD $202 $364 $392 $24 $118 $1,100 $92
Element SC 2WD $202 $364 $392 $24 $118 $1,100 $92
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Prices based on married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Rate quotes do not factor in specific location which can revise rates noticeably.

Policy deductibles

One of the hardest decisions when shopping for car insurance is how high should your deductibles be. The comparisons below can help you visualize the price difference when you choose different insurance deductibles. The first price estimate table uses a $100 physical damage coverage deductible and the second set of prices uses a $500 deductible.

Honda Element insurance with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Element LX 2WD $358 $648 $418 $24 $124 $1,597 $133
Element LX 4WD $358 $648 $418 $24 $124 $1,597 $133
Element EX 2WD $358 $648 $418 $24 $124 $1,597 $133
Element EX 4WD $358 $648 $418 $24 $124 $1,597 $133
Element SC 2WD $358 $648 $418 $24 $124 $1,597 $133
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Honda Element insurance with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Element LX 2WD $262 $438 $418 $24 $124 $1,266 $106
Element LX 4WD $262 $438 $418 $24 $124 $1,266 $106
Element EX 2WD $262 $438 $418 $24 $124 $1,266 $106
Element EX 4WD $262 $438 $418 $24 $124 $1,266 $106
Element SC 2WD $262 $438 $418 $24 $124 $1,266 $106
Get Your Own Custom Quote Go

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Rate information does not factor in specific Tampa garaging location which can change coverage rates considerably.

Based on the data above, we can derive that using a $100 deductible will cost you roughly $27 more each month or $324 every year averaged for all Element models than selecting the higher $500 deductible. Because you would pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you average at a minimum 15 months between claims, you would more than likely save some money if you decide on a higher deductible.

How to determine when to raise deductibles

Average monthly premium for $100 deductibles: $133
Average monthly premium for $500 deductibles (subtract): – $106
Monthly savings from raising deductible: $27
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $27
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 15 months

One thing to note is that increasing deductibles to lower your rates results in a higher out-of-pocket expense when you have a claim. That will force you to have enough disposable income in the event you need to pay more to get your vehicle repaired.

The information below shows how choosing a deductible and can impact Honda Element insurance premiums for different insured age categories. Data assumes a married female driver, comp and collision included, and no discounts are taken into consideration.

Car insurance rates are higher with tickets and accidents

The illustration below shows how violations and at-fault claims impact Honda Element insurance prices for each different age group. The prices are based on a married female driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.

Full coverage rates vs. liability-only in Tampa

The information below visualizes the comparison of Honda Element premium costs with and without physical damage coverage. The costs are based on a clean driving record, no at-fault accidents, $500 deductibles, drivers are not married, and no policy discounts are applied.

When to eliminate full coverage

There isn’t a steadfast formula that works best for making the decision to drop comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.

For example, let’s say your Honda Element claim settlement value is $3,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $2,000 after the policy deductible has been paid. If it’s costing you more than $200 annually for your policy with full coverage, then you may need to consider dropping full coverage.

There are some cases where buying only liability insurance is not financially feasible. If you have an outstanding loan on your vehicle, you have to keep full coverage in order to prevent your loan from defaulting. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should keep full coverage in place.

How Insurance Companies Determine Honda Element Insurance Prices

Many factors are considered when pricing auto insurance. Most are fairly basic such as your driving record, but other factors are less apparent such as your marital status or how safe your car is. Part of the car insurance buying process is learning some of the factors that help calculate the level of your policy premiums. When you know what positively or negatively impacts premium levels, this enables you to make decisions that may result in lower car insurance prices.

Your address can push rates up or down – Having an address in areas with lower population has definite advantages if you are looking for the lowest rates. Urban drivers have to deal with more auto accidents and much longer commute distances. Fewer drivers and short commutes corresponds to lower accident rates in addition to lower liability claims.

Your spouse saves you money – Walking down the aisle can get you a discount on your policy. It generally demonstrates drivers are more mature and responsible and insurance companies reward insureds because drivers who are married are more cautious.

Costs go up with performance – The performance level of the car, truck or SUV you own makes a significant difference in your premium level. The lowest performance passenger vehicles usually have the lowest premiums, but your final cost has many other factors.

The next chart uses these assumptions: married female driver age 30, full coverage with $100 deductibles, and no discounts or violations. The chart compares Honda Element rates compared to other vehicles that have different performance risks.

Higher deductibles reduce premiums – Comprehensive and collision coverage deductibles define how much you are willing to pay if the claim is covered. Physical damage coverage, otherwise known as comp (or other than collision) and collision, protects your car from damage. Some examples of covered claims would be a windshield broken by a bird, animal collisions, and damage from wind. The larger the amount you are required to pay out-of-pocket, the bigger discount you will receive.

When should you not file claims? – Companies in Florida give most affordable rates to drivers who are claim-free. If you file claims often, you can definitely plan on much higher rates or policy non-renewal. Auto insurance is intended to be relied upon for major claims that would cause financial hardship.

Safer vehicles cost less to insure – Vehicles with good safety scores can get you lower premiums. Safe vehicles reduce injuries and lower rates of occupant injuries means less claims paid and lower rates for you.

Youthful drivers cost more – Inexperience drivers have been known to get distracted easily behind the wheel so car insurance rates are higher. If you’ve ever had to add a youthful driver onto your car insurance can break the bank. Mature drivers are proven to be safer behind the wheel, statistically cause fewer accidents, and receive fewer citations.

The chart below assumes a single driver, full coverage with $1000 deductibles, and no discounts or violations.

These discounts can lower your insurance rates

Properly insuring your vehicles can get expensive, but there’s a good chance there are discounts to reduce the price significantly. Most are applied at the time you complete a quote, but once in a while a discount must be specifically requested before being credited.Cheaper insurance with discounts

Discounts reduce rates, but you should keep in mind that some of the credits will not apply to your bottom line cost. Most only reduce the price of certain insurance coverages like collision or personal injury protection. Despite the fact that it seems like you would end up receiving a 100% discount, you’re out of luck. But any discount will reduce your overall bill.

The information below shows the comparison of Honda Element insurance rates with and without discounts applied. The costs are based on a female driver, no claims or violations, Florida state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, marriage, multi-car, multi-policy, and claim-free discounts applied.

Large insurance companies and some of the premium reductions they offer are shown below.

Before purchasing a policy, check with each insurance company what discounts are available to you. Savings might not be available to policyholders in Tampa. If you would like to view companies with significant discounts in Tampa, follow this link.

Comparing quotes from local Tampa insurance agents

Many people still prefer to have an agent’s advice and that can be a great decision Good agents are very good at helping people manage risk and will help you if you have claims. An additional benefit of comparing insurance online is that drivers can save money and get lower rates and also buy local. Putting coverage with neighborhood insurance agencies is important particularly in Tampa.

Find insurance agent in TampaAfter filling out this simple form, your coverage information is submitted to participating agents in Tampa who will return price quotes for your insurance coverage. It makes it easy because there is no need to even leave your home since price quotes are sent to you directly. If for some reason you want to quote rates from a specific insurance company, you would need to go to their quote page and give them your coverage information.

Below are Tampa auto insurance companies that are able to give price quotes for Honda Element insurance in Tampa.

More Tampa agents

Finding the right insurer needs to be determined by more than just the price. Here are some questions you should ask.

Once you have received good answers and an acceptable price quote, most likely you have located an insurance company that can properly insure your vehicles. Just be aware that you are entitled to cancel coverage whenever you wish so never feel you are locked into your new company for any length of time.

It’s not one size fits all

When selecting the right insurance coverage, there really is not a one size fits all plan. Everyone’s situation is unique.Higher deductibles save money

For instance, these questions might help in determining whether your personal situation might need professional guidance.

If you can’t answer these questions but a few of them apply, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, complete this form. It is quick, free and can provide invaluable advice.

Persistence pays off

Cheaper Honda Element insurance in Tampa can be purchased online and from local insurance agents, so you should be comparing quotes from both to have the best rate selection. Some companies may not provide the ability to get quotes online and these smaller companies sell through independent agents.

When searching for low cost Tampa auto insurance quotes, do not buy less coverage just to save a little money. There are too many instances where an insured cut uninsured motorist or liability limits only to find out that they should have had better coverage. Your goal should be to buy the best coverage you can find at the best cost.

We just covered a lot of ways to find cheaper Honda Element insurance in Tampa. It’s most important to understand that the more providers you compare, the more likely it is that you will get a better rate. Consumers could even find that the best premium rates are with some of the lesser-known companies.

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