2008 Honda Accord Insurance Rates – 5 Ways to Save

Are you tired of being strong-armed to insure your Honda every month? You’re in the same situation as many other drivers. Drivers have multiple auto insurance companies to pick from, and even though it’s nice to have a selection, it can be more difficult to find the best rates for your vehicles.

Consumers need to price shop coverage yearly because insurance rates go up and down regularly. If you had the best price on Accord coverage on your last policy you can probably find a better price now. Forget all the misinformation about car insurance because you’re about to learn the fastest way to reduce your cost while improving coverage.

Finding the cheapest car insurance coverage is quite easy. If you have insurance now or are shopping for new coverage, you can learn to shop for the lowest rates and still get good coverage. Drivers just need to learn the best way to compare price quotes over the internet.

Discounts are basically free money

Insurance can cost an arm and a leg, but there could be available discounts that can drop the cost substantially. A few discounts will automatically apply at quote time, but less common discounts must be asked for prior to receiving the credit. If they aren’t giving you every credit possible, you’re just leaving money on the table.

  • Accident Free – Drivers who don’t have accidents pay much less when compared with drivers who are more careless.
  • Driver Safety – Completing a course in driver safety could cut 5% off your bill if you qualify.
  • Good Student Discount – A discount for being a good student can be rewarded with saving of up to 25%. The discount lasts up to age 25.
  • Seat Belt Usage – Drivers who require all occupants to use their safety belts can save up to 15% off your PIP or medical payments premium.
  • Early Switch Discount – Some insurance companies reward drivers for switching policies prior to your current policy expiring. It’s a savings of about 10%.

It’s important to understand that many deductions do not apply to the entire policy premium. A few only apply to specific coverage prices like collision or personal injury protection. Even though it may seem like having all the discounts means you get insurance for free, it doesn’t quite work that way. Any amount of discount will cut your premiums.

A partial list of companies who might offer these benefits include:

It’s a good idea to ask each insurance company what discounts are available to you. All car insurance discounts might not apply in your state.

Save 15 percent in 15 minutes? Is it for real?

Consumers get pounded daily by advertisements for cheaper car insurance by Allstate, Geico and Progressive. They all seem to have a common claim of big savings if you switch to their company.

But how can every company make the same claim? This is how they do it.

Insurance companies have a preferred profile for the type of customer that makes them money. An example of a desirable insured might be a mature driver, owns a home, and has a high credit rating. A customer getting a price quote who fits that profile will qualify for the lowest rates and most likely will save when they switch companies.

Consumers who are not a match for the requirements must pay higher prices which leads to business going elsewhere. The ads say “customers that switch” not “everybody who quotes” save that much. That is how companies can truthfully claim big savings.

This illustrates why you absolutely need to compare as many rates as you can. It’s not possible to predict which insurance companies will give you the biggest savings on Honda Accord insurance.

Which insurance is the “right” coverage?

When it comes to buying coverage, there is no perfect coverage plan. Everyone’s needs are different so your insurance should reflect that For instance, these questions may help you determine if your situation might need an agent’s assistance.

  • Should I waive the damage coverage when renting a car?
  • Why do I only qualify for high-risk insurance?
  • Are all vehicle passengers covered by medical payments coverage?
  • Should I sign the liability waiver when renting a car?
  • How high should my medical payments coverage be?
  • Is my dog or cat covered if injured in an accident?
  • Should I put collision coverage on all my vehicles?
  • Can my babysitter drive my car?
  • Do I pay less for low miles?

If it’s difficult to answer those questions, then you may want to think about talking to an agent. To find lower rates from a local agent, fill out this quick form or click here for a list of auto insurance companies in your area. It only takes a few minutes and may give you better protection.

What insurance coverages do you need?

Having a good grasp of insurance can help you determine the right coverages for your vehicles. Insurance terms can be ambiguous and coverage can change by endorsement. Listed below are typical coverage types available from insurance companies.

Medical costs insurance – Med pay and PIP coverage pay for immediate expenses for things like funeral costs, ambulance fees and EMT expenses. They can be used to cover expenses not covered by your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants in addition to if you are hit as a while walking down the street. Personal Injury Protection is not universally available and may carry a deductible

Comprehensive or Other Than Collision – Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage pays for claims such as a tree branch falling on your vehicle, vandalism, hitting a deer, damage from getting keyed and hitting a bird. The maximum payout your insurance company will pay is the actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Collision coverage – Collision insurance will pay to fix damage to your Accord caused by collision with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers things such as scraping a guard rail, sustaining damage from a pot hole and colliding with a tree. This coverage can be expensive, so consider dropping it from lower value vehicles. You can also choose a higher deductible to bring the cost down.

UM/UIM Coverage – This protects you and your vehicle when the “other guys” either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your Honda Accord.

Since a lot of drivers have only the minimum liability required by law, their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important. Frequently your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Liability auto insurance – Liability insurance can cover damage that occurs to other people or property that is your fault. Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 50/100/50 which stand for $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000. Alternatively, you may have a combined limit which provides one coverage limit with no separate limits for injury or property damage.

Liability coverage pays for things like emergency aid, court costs, structural damage and bail bonds. The amount of liability coverage you purchase is a personal decision, but consider buying as much as you can afford.

One last thing

While you’re price shopping online, make sure you don’t reduce coverage to reduce premium. There are a lot of situations where an insured dropped liability coverage limits to discover at claim time that it was a big mistake. Your strategy should be to purchase plenty of coverage at a price you can afford, not the least amount of coverage.

You just learned many ways to lower your 2008 Honda Accord insurance rates. It’s most important to understand that the more providers you compare, the higher the chance of saving money. Consumers may even find the best price on auto insurance is with a lesser-known regional company. Smaller companies may only write in your state and offer lower rates compared to the large companies like State Farm, Geico and Nationwide.

Cheap insurance can be found both online and with local insurance agents, and you should be comparing both to get a complete price analysis. There are still a few companies who do not offer online quoting and many times these small insurance companies only sell through independent insurance agents.

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