1998 Honda Accord Insurance Cost – 5 Policy Discounts

Want the cheapest insurance coverage rates? Drivers have options when trying to find low-cost Honda Accord insurance. You can either waste hours struggling with agents trying to get quotes or leverage the internet to make rate comparisons. There are both good and bad ways to find insurance coverage online and you need to know the best way to price shop coverage for a new or used Honda and get the cheapest rates either online or from local insurance agents.

It’s important to shop coverage around on a regular basis since prices change regularly. Despite the fact that you may have had the best rates for Accord insurance last year the chances are good that you can find a lower premium rate today. Forget all the misinformation about insurance coverage because you’re going to get a crash course in the quickest way to properly buy coverages and cut your premium.

Five discounts for cheaper auto insurance rates

Auto insurance companies do not list every possible discount very well, so the list below gives a summary of some of the more common and also the lesser-known credits available to you.

• Drivers Education – Require your teen driver to complete a driver education course if offered at their school.
• Discount for Good Grades – Performing well in school can get you a discount of up to 25%. Earning this discount can benefit you up to age 25.
• Pay Early and Save – If you can afford to pay the entire bill instead of paying each month you can actually save on your bill.
• New Car Discount – Putting coverage on a new car can be considerably cheaper due to better safety requirements for new vehicles.
• Professional Organizations – Belonging to qualifying clubs or civic groups is a good way to get lower rates on your next auto insurance statement.

While discounts sound great, it’s important to understand that some of the credits will not apply to all coverage premiums. Most cut the cost of specific coverages such as physical damage coverage or medical payments. Even though the math looks like it’s possible to get free car insurance, companies wouldn’t make money that way.

A list of companies and some of the discounts are included below.

• Esurance includes discounts for renters, anti-lock brakes, online quote, anti-theft, defensive driver, good student, and DriveSense.
• The Hartford may have discounts that include anti-theft, bundle, defensive driver, driver training, and vehicle fuel type.
• AAA offers premium reductions for multi-car, AAA membership discount, education and occupation, good driver, pay-in-full, multi-policy, and anti-theft.
• Geico has discounts for multi-vehicle, seat belt use, air bags, military active duty, daytime running lights, anti-theft, and five-year accident-free.
• State Farm has savings for student away at school, Drive Safe & Save, multiple policy, good driver, passive restraint, and anti-theft.

If you are trying to find affordable insurance quotes, ask every insurance company which discounts can lower your rates. All car insurance discounts might not be offered in every state. To see a list of providers that have a full spectrum of discounts, click this link.

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Advertising and auto insurance

Drivers can’t get away from all the ads for cheaper auto insurance by State Farm, Geico and Progressive. All the ads have a common claim that drivers will save a bundle if you just switch to their company.

But how can every company charge you a lower premium? It’s all in the numbers.

All companies have a preferred profile for the driver that will generate a profit. One example of a profitable customer could be between the ages of 30 and 50, carries full coverage, and does not commute to work. Any person who fits that profile will get very good premium rates and will also save some money.

Insureds who fall short of these criteria will be quoted a higher premium with the end result being the customer buying from a different company. If you pay close attention to the ads, they say “drivers that switch” but not “everyone who gets a quote” save that much money. That is how insurance companies can claim big savings. This emphasizes why you absolutely need to get insurance quotes from several different companies. It is just not possible to predict with any certainty which company will give you lower car insurance rates than your current company.

Tailor your car insurance coverage to you

When it comes to buying the right insurance coverage for your personal vehicles, there really is no single plan that fits everyone. Every situation is different.

For example, these questions might point out whether or not you could use an agent’s help.

• Am I covered if I crash into my own garage door?
• Where can I find DUI or SR-22 insurance?
• Is my cargo covered for damage or theft?
• Does my 1998 Honda Accord need full coverage?
• When should I not file a claim?
• Am I getting all the discounts available?

If you don’t know the answers to these questions but you think they might apply to your situation, you might consider talking to an agent. If you don’t have a local agent, fill out this quick form. It’s fast, doesn’t cost anything and can provide invaluable advice.

Auto insurance policy coverages for a 1998 Honda Accord

Knowing the specifics of a auto insurance policy can help you determine which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be confusing and reading a policy is terribly boring.

Comprehensive insurance – This coverage covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage protects against things like hail damage, vandalism, theft, rock chips in glass and fire damage. The highest amount your auto insurance company will pay is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage gives you protection when other motorists either have no liability insurance or not enough. Covered claims include hospital bills for your injuries as well as damage to your Honda Accord.

Due to the fact that many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family.

Collision – This covers damage to your Accord resulting from a collision with another car or object. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers claims like crashing into a ditch, colliding with another moving vehicle, hitting a mailbox and crashing into a building. This coverage can be expensive, so consider removing coverage from vehicles that are older. Another option is to raise the deductible in order to get cheaper collision rates.

Liability car insurance – Liability insurance can cover injuries or damage you cause to other people or property in an accident. It protects YOU against claims from other people. It does not cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see policy limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged propery.

Liability can pay for things such as loss of income, medical expenses and structural damage. The amount of liability coverage you purchase is a personal decision, but consider buying as much as you can afford.

Med pay and Personal Injury Protection (PIP) – Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses for things like hospital visits, pain medications and chiropractic care. They are often utilized in addition to your health insurance plan or if there is no health insurance coverage. Coverage applies to you and your occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is not an option in every state but can be used in place of medical payments coverage

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Have the Midas touch

More affordable insurance coverage can be purchased online and from local agencies, and you need to price shop both in order to have the best chance of saving money. Some insurance companies may not offer online price quotes and these small, regional companies provide coverage only through independent insurance agencies.

While you’re price shopping online, never reduce coverage to reduce premium. There have been many cases where someone dropped collision coverage only to regret that the few dollars in savings costed them thousands. Your focus should be to purchase a proper amount of coverage at the lowest possible cost, but do not skimp to save money.

Drivers who switch companies do it for a variety of reasons including policy cancellation, not issuing a premium refund, high rates after DUI convictions and delays in paying claims. No matter why you want to switch, finding the right insurance coverage provider is pretty simple and you could end up saving a buck or two.

More information is available on the following sites:

• Protect Yourself Against Auto Theft (Insurance Information Insitute)
• Five Mistakes to Avoid (Insurance Information Insitute)
• Teen Driving and Texting (State Farm)
• Understanding Car Crashes Video (iihs.org)

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