If you want to save the most money, the best way to get cheaper Honda Accord Hybrid insurance is to start doing a yearly price comparison from companies in Virginia Beach. Rates can be compared by following these guidelines.
Step 1: Get a basic knowledge of how insurance companies determine prices and the modifications you can make to prevent expensive coverage. Many rating factors that cause rate increases like your driving record and a substandard credit score can be remedied by making small lifestyle or driving habit changes.
Step 2: Request rate estimates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only quote rates from a single company like Progressive and State Farm, while agents who are independent can give you price quotes for a wide range of companies. Begin your rate comparison
Step 3: Compare the new rate quotes to the premium of your current policy to see if switching to a new carrier will save money. If you find a lower rate quote and buy the policy, make sure there is no coverage gap between policies.
Step 4: Give notification to your current company of your decision to cancel the current policy. Submit a down payment and signed policy application to the newly selected company. As soon as coverage is bound, place your new certificate verifying proof of insurance in an easily accessible location in your vehicle.
An important note is to try to use similar coverage information on every quote and and to get quotes from as many companies as feasibly possible. This ensures an accurate price comparison and a complete selection of prices.
It’s astonishing, but most drivers kept buying from the same company for over three years, and nearly half have never compared rate quotes at all. The average driver in Virginia could pocket approximately $550 a year by just comparing rate quotes, but they don’t understand how simple it is to compare other rate quotes.
Informed Drivers Save Money
Consumers need to have an understanding of some of the elements that help calculate the rates you pay for car insurance. If you have a feel for what positively or negatively impacts your premiums, this allows you to make good choices that can earn you cheaper rates. Many different elements are used in the calculation when you get a price on insurance. Most are fairly basic such as your driving record, but others are more obscure like where you live or how financially stable you are.
Are men or women drivers cheaper? – Over the last 30 years, statistics show that men are more aggressive behind the wheel. This data doesn’t prove that females are better drivers. Women and men are in fender benders at about the same rate, but the male of the species have accidents that have higher claims. Not only are claims higher, but men have more aggressive citations like DUI and reckless driving. Male teenagers cause the most accidents and therefore are the most expensive to insure.
Car insurance lapses lead to higher prices – Letting your insurance expire is a fast way to bump up your car insurance costs. Not only will you pay higher rates, being ticketed for driving with no insurance might get you a revoked license or a big fine.
Extra coverages are wasting money – Insurance policies have a lot of optional add-on coverages that you can buy if you don’t pay attention. Coverages for rental car coverage, accidental death, and membership fees may be costing you every month. These coverages may sound good when talking to your agent, but if you don’t need them consider taking them off your policy.
More performance means more cost – The type of car you are buying insurance for makes a significant difference in your car insurance bill. The lowest premiums are generally reserved for lower cost passenger cars, but many other things help determine your insurance rates.
Vehicles with better crash test results cost less to insure – Cars with five star safety ratings tend to have lower insurance rates. The safest vehicles reduce the chance of injuries and lower rates of occupant injuries means less money paid by your insurance company and thus lower rates. If your Honda scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may be receiving lower rates.
Driver age impacts costs – Older, more experienced drivers are more responsible, statistically cause fewer accidents, and usually have better credit. Beginning drivers are known to be careless and easily distracted in a vehicle and because of this, their car insurance rates are much higher.
Increase comp and collision deductibles to save – Deductibles for physical damage tell how much the insured will be required to pay if a covered claim is submitted. Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, protects your car from damage. Some examples of claims that would be covered could be colliding with a stationary object, collision with a deer, and damage caused by road hazards. The more money you pay before a claim is paid (deductible), the less your car insurance will be.
Combine policies and save money – Most major car insurance companies allow a discount to customers who consolidate policies with them such as combining an auto and homeowners policy. The discount can be ten or even fifteen percent. Even if you’re getting this discount consumers should still shop around to make sure you are getting the best deal.
Insurance loss data for Honda Accord Hybrid vehicles – Insurance companies analyze historical claim data when they set coverage costs for each model. Vehicles that statistically have a higher amount or frequency of claims will be charged more to insure. The table below demonstrates the actual insurance loss data for Honda Accord Hybrid vehicles.
For each policy coverage, the loss probability for all vehicles, as an average, is represented as 100. Values that are 100 or less indicate better than average losses, while percentages above 100 indicate more frequent claims or tendency to have higher losses.
|Specific Honda Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Honda Accord Hybrid||96||80||98||89||76||84|
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Car insurance rates and discounts
The price of auto insurance can be rather high, but you might find some hidden discounts that can drop the cost substantially. Some trigger automatically when you purchase, but some discounts are required to be asked for before you will receive the discount.
- Multi-policy Discount – If you insure your home and vehicles with the same insurance company you may save 10% to 20% off each policy.
- Paperwork-free – A few larger companies will provide an incentive for signing up on the internet.
- Sign Early and Save – A few companies offer discounts for buying a policy prior to the expiration date on your current Accord Hybrid insurance policy. You could save around 10% when you buy Virginia Beach car insurance online.
- Defensive Driving Course – Completing a class that teaches safe driver techniques could cut 5% off your bill if your company offers it.
- Drive Less and Save – Keeping the miles down on your Honda may allow you to get discounted premium rates on garaged vehicles.
- Driving Data Discount – Insureds who allow their company to spy on vehicle usage by using a small device installed in their vehicle such as In-Drive from State Farm or Allstate’s Drivewise system could see a rate decrease if they have good driving habits.
- Buy New and Save – Putting coverage on a new Accord Hybrid can save up to 30% because newer vehicles have to meet stringent safety requirements.
- Theft Deterrent Discount – Vehicles that have factory alarm systems and tracking devices are stolen less frequently and therefore earn up to a 10% discount.
- Employee of Federal Government – Federal government employees could provide a small rate reduction but check with your company.
- Distant College Student Discount – Older children who live away from home to go to college and leave their car at home can be insured at a reduced rate.
A little disclaimer on discounts, most discounts do not apply to the whole policy. A few only apply to the price of certain insurance coverages like comprehensive or collision. So even though you would think you can get free auto insurance, nobody gets a free ride.
To choose car insurance companies with discount car insurance rates in Virginia Beach, click here.
Persistent drivers can save
In this article, we presented some good ideas how to find affordable Honda Accord Hybrid insurance in Virginia Beach. The most important thing to understand is the more providers you compare, the better your chances of lowering your premium rates. You may even be surprised to find that the best price on insurance is with a company that doesn’t do a lot of advertising. Smaller companies can often insure niche markets at a lower cost than the large multi-state companies such as Progressive or GEICO.
When searching for affordable Virginia Beach car insurance quotes, never buy less coverage just to save a little money. In many cases, an insured dropped comprehensive coverage or liability limits only to regret that their decision to reduce coverage ended up costing them more. The proper strategy is to get the best coverage possible for the lowest price, but do not skimp to save money.
Additional insurance information is available below:
- Understanding your Policy (NAIC.org)
- Who Has Affordable Virginia Beach Auto Insurance Quotes for Government Employees? (FAQ)
- Coverage Information (Progressive Insurance)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
- Crash Avoidance Technologies FAQ (iihs.org)