Lower Your 2002 Honda Accord Insurance Rates

No one likes paying for insurance coverage, in particular when they are paying too much.

Multiple car insurance companies compete for your insurance dollar, so it’s not easy to compare every company to find the absolute best rates possible.

Cheaper rates with these discounts

The cost of insuring your cars can be expensive, but you might already qualify for some discounts to cut the cost considerably. Certain credits will be shown when you get a quote, but lesser-known reductions have to be inquired about prior to receiving the credit.

• Senior Citizen Rates – Drivers over the age of 55 can possibly qualify for a discount up to 10% on Accord insurance.
• Discount for Life Insurance – Select insurance companies reward you with a discounted rate on car insurance if you buy a life policy as well.
• Drivers Ed for Students – Cut your cost by having your teen driver participate in a local driver’s education class if it’s offered in school.
• Homeowners Savings – Owning your own home or condo can earn you a little savings since owning and maintaining a home shows financial diligence.
• Multi-policy Discount – When you have multiple policies and insure them with the same company you may save up to 20% and get you inexpensive insurance coverage.
• Defensive Driver – Taking a safe driver course is a good idea and can lower rates and make you a better driver.
• Passive Restraint Discount – Options like air bags may get savings of 25 to 30%.

Drivers should understand that most discount credits are not given to all coverage premiums. Some only apply to individual premiums such as collision or personal injury protection. Even though the math looks like it’s possible to get free car insurance, you won’t be that lucky. But all discounts will lower the premium cost.

The best insurance companies and their offered discounts can be found below.

• The Hartford may include discounts for vehicle fuel type, good student, driver training, air bag, and bundle.
• American Family has discounts for bundled insurance, defensive driver, mySafetyValet, Steer into Savings, early bird, and good student.
• Progressive may offer discounts for online quote discount, good student, continuous coverage, online signing, multi-policy, homeowner, and multi-vehicle.
• Travelers includes discounts for multi-policy, hybrid/electric vehicle, multi-car, save driver, and student away at school.
• Farmers Insurance offers premium reductions for switch companies, homeowner, electronic funds transfer, pay in full, youthful driver, and business and professional.
• USAA may have discounts that include defensive driver, military installation, multi-vehicle, annual mileage, and good student.
• Liberty Mutual policyholders can earn discounts including multi-car, new vehicle discount, hybrid vehicle, preferred payment discount, newly retired, multi-policy, and new graduate.

Before purchasing a policy, check with every prospective company how you can save money. Some of the discounts discussed earlier may not apply to policyholders everywhere. To locate companies who offer free insurance quotes, click here to view.

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Smart buyers can reduce insurance rates

Many things are part of the calculation when you quote your car insurance policy. Some are obvious such as traffic violations, although some other factors are not as apparent like your continuous coverage or how financially stable you are.When buying car insurance it’s important to understand some of the things that help calculate your car insurance rates. If you understand what determines premiums, this empowers consumers to make smart changes that may result in better car insurance rates.

• Premiums increase with driving tickets – Having just one moving violation may increase your cost forty percent or more. Drivers who don’t get tickets have lower premiums than people who have multiple driving citations. Drivers with license-revoking tickets like reckless driving or DUI might be required by their state to complete a SR-22 to the state department of motor vehicles in order to drive a vehicle legally.
• Rental and towing coverage may not be needed – There are many extra add-on coverages that you can get tricked into buying when buying car insurance. Coverage for things like roadside assistance, death and dismemberment, and Farm Bureau memberships may be wasting your money. These may sound like a good investment when you first buy your policy, but if you don’t need them remove them and pocket the money.
• Guys tend to take more risk – Statistics have proven that women are safer drivers than men. This data doesn’t prove that females are better drivers. They both are in accidents in similar numbers, but guys have accidents that have higher claims. Men also get more serious tickets such as driving while intoxicated (DWI) or driving recklessly.
• Marriage equates to better costs – Your spouse may save some money on your car insurance policy. Having a significant other means you’re less irresponsible and statistics prove married drivers tend to file fewer claims.

Car insurance can be complex

When buying the right insurance coverage for your vehicles, there isn’t really a cookie cutter policy. Everyone’s situation is a little different and a cookie cutter policy won’t apply. These are some specific questions might point out whether your personal situation could use an agent’s help.

• Do I need medical payments coverage since I have good health insurance?
• Do I get a pro-rated refund if I cancel my policy early?
• Are rock chip repairs covered?
• Am I getting all the discounts available?
• How can I get my company to pay me more for my totalled car?
• Do I have coverage when pulling a U-Haul trailer?
• Do I need roadside assistance coverage?
• Do I pay less for low miles?
• Does my 2002 Honda Accord qualify for pleasure use?

If you’re not sure about those questions, you might consider talking to an agent. To find an agent in your area, complete this form or click here for a list of car insurance companies in your area.

Parts of your insurance policy

Having a good grasp of your insurance policy aids in choosing which coverages you need and proper limits and deductibles. Insurance terms can be impossible to understand and coverage can change by endorsement. Listed below are the normal coverages available from insurance companies.

Liability car insurance

Liability coverage provides protection from damage that occurs to a person or their property in an accident. It protects YOU against other people’s claims, and doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You might see liability limits of 50/100/50 that translate to a $50,000 limit per person for injuries, $100,000 for the entire accident, and $50,000 of coverage for damaged propery. Occasionally you may see one number which is a combined single limit which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage protects against things such as medical expenses, court costs, attorney fees, legal defense fees and repair bills for other people’s vehicles. How much liability should you purchase? That is a decision to put some thought into, but it’s cheap coverage so purchase as much as you can afford.

Comprehensive coverage

Comprehensive insurance coverage covers damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims like hitting a deer, a tree branch falling on your vehicle, rock chips in glass and a broken windshield. The most you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Collision coverage

Collision insurance pays to fix your vehicle from damage caused by collision with another vehicle or an object, but not an animal. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage protects against claims such as hitting a mailbox, driving through your garage door, colliding with another moving vehicle and rolling your car. Collision is rather expensive coverage, so consider dropping it from older vehicles. It’s also possible to choose a higher deductible to get cheaper collision coverage.

Uninsured/Underinsured Motorist coverage

This protects you and your vehicle when other motorists either have no liability insurance or not enough. It can pay for injuries sustained by your vehicle’s occupants and damage to your Honda Accord.

Since a lot of drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. So UM/UIM coverage is important protection for you and your family. Usually your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Medical payments coverage and PIP

Med pay and PIP coverage pay for expenses like doctor visits, chiropractic care, funeral costs and X-ray expenses. They are used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. It covers all vehicle occupants and also covers getting struck while a pedestrian. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage

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One last thing

When shopping online for insurance coverage, make sure you don’t reduce coverage to reduce premium. There are too many instances where an insured dropped uninsured motorist or liability limits only to regret that the savings was not a smart move. Your goal should be to buy the best coverage you can find at an affordable rate, but do not skimp to save money.

Cheap 2002 Honda Accord insurance can be found from both online companies in addition to many insurance agents, so you need to shop insurance coverage with both in order to have the best price selection to choose from. Some insurance companies may not have online quoting and these small insurance companies prefer to sell through independent agents.

We covered many tips how you can compare 2002 Honda Accord insurance rates online. It’s most important to understand that the more you quote insurance coverage, the higher the chance of saving money. Consumers may even find the best price on insurance coverage is with the least-expected company. These companies can often insure niche markets at a lower cost than the large multi-state companies such as Geico and State Farm.

Additional information can be found below:

• Auto Insurance for Teen Drivers (Insurance Information Insitute)
• Who Has the Cheapest Auto Insurance for a Honda Accord in Fresno? (InsureFresno.com)
• How Much are Car Insurance Quotes for a Honda Accord in Newark? (NewarkInsure.com)
• Teen Driving Statistics (Geico)
• Winter Driving (Insurance Information Insitute)
• Tools for Teen Driving Safety (State Farm)
• Vehicle Safety Ratings (iihs.org)
• Where can I buy Insurance? (Insurance Information Insitute)

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