How Much Does 2004 Honda Element Insurance Cost?

Want cheaper car insurance rates for your Honda Element? No one in their right mind looks forward to paying premiums for car insurance, especially when their premiums are through the roof.

Many insurance companies vie for your insurance dollar, so it can be very hard to choose a insurance company and get the best coverage at the lowest rate

If you are paying for car insurance now, you stand a good chance to be able to reduce your rates substantially using these techniques. Finding affordable coverage is quite easy. Nevertheless, drivers must know how the larger insurance companies compete online and apply this information to your search.

Compare insurance coverage price quotes

To find cheap car insurance quotes, there are several ways of comparing rates from lots of insurance coverage companies. The best method to compare Honda Element insurance prices consists of obtaining rate quotes online. It is quite easy and can be accomplished in just a few minutes using one of these methods.

1. The fastest way to find low rates would be an industry-wide quote request form like this one (opens in new window). This type of form keeps you from doing separate quotation requests for every prospective company. One form gets rate comparisons from insurance coverage companies with the best prices.
2. A harder way to find lower rates requires a trip to each company website and repeat the quote process. For example, we’ll pretend you want to compare rates from Nationwide, Allstate and Geico. In order to compare rates, you need to go to every website and punch in your information repeatedly, which is why most consumers use the first method. To view a list of companies in your area, click here.
3. Even if you have time, the least recommended way to find lower rates is calling or driving to insurance agents’ offices. The ability to quote online makes this process obsolete unless you’re the type of person who wants the professional guidance of a local agency. Drivers can compare online quotes and still use a local agent.

Whichever way you use, make sure you use the same coverages with every price quote. If the quotes have differing limits it will be next to impossible to determine the lowest rate for your Honda Element. Just a small difference in coverages could skew the results. And when price shopping your coverage, comparing all the rates in your area provides better odds of finding more affordable rates.

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The ad said I’d save $465 a year!

Companies like State Farm, Allstate and Geico endlessly run ads on television and other media. All the companies try to convey promises that you can save if you move to their company. How does each company give you a better price? It’s all in how they say it.

Insurance providers quote their best rates for the type of driver that will most likely be profitable. One example of a profitable risk profile may need to be between 25 and 40, carries high limits, and drives newer vehicles. A driver who meets those qualifications will get the preferred prices and will also save a lot if they switch.

People who do not meet these criteria will have to pay higher rates and this can result in the driver buying from a lower-cost company. If you pay attention, the ads say “customers who switch” but not “all drivers who get quotes” will save that much if they switch. That is how insurance companies can make the claims of big savings.

Because of the profiling, you really should get car insurance quotes from several different companies. Because without a comparison, you cannot know which insurance companies will fit you best based on your risk profile.

How you can control Honda Element insurance prices

Many different elements are used when pricing auto insurance. Some are pretty understandable such as traffic violations, although others are not quite as obvious such as your marital status or your vehicle rating.

The following are a partial list of the pieces that factor into your rate level.

• Buy a safe car and pay less – Safe vehicles get lower rates. Safe vehicles reduce the chance of injuries and reduced instances of injuries translates into savings for insurance companies and thus lower rates. If your Honda Element is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website you may qualify for a discount.
• Marriage can save you money – Walking down the aisle can get you a discount when shopping for car insurance. Having a spouse generally demonstrates drivers are more responsible and it’s statistically proven that married drivers tend to file fewer claims.
• Obey driving laws and save – Whether or not you get tickets has a big impact on rates. Even one driving citation can boost insurance rates twenty percent or more. Good drivers receive lower rates as compared to those with violations. Drivers who have received dangerous tickets such as DUI or willful reckless driving might be required by their state to maintain a SR-22 with their state’s department of motor vehicles in order to prevent a license revocation.
• With age comes responsibility – Young drivers are proven to be careless and easily distracted behind the wheel therefore car insurance rates are much higher. If you’ve ever had to add a teenage driver to your policy can really hurt. Mature drivers are shown to be more cautious, cost insurance companies less in claims , and usually have better credit.
• Small claims can cost you – If you tend to file frequent claims, don’t be surprised to see either policy cancellation or increased premiums. Car insurance companies award better rates to people who are not frequent claim filers. Insurance coverage is intended to be relied upon for claims that you cannot pay yourself.
• High comp and collision deductibles reduce premiums – Insurance for physical damage to your car, aka comp and collision, covers damage that occurs to your Honda. Examples of some claims that would be covered are colliding with a building, damage from fire, and damage caused by flying debris. Your deductibles define the amount you are required to spend if a claim is determined to be covered. The more of the claim you pay before a claim is paid (deductible), the less your car insurance will be on Element coverage.

Do you qualify for discount insurance coverage?

Companies offering auto insurance don’t necessarily list every disount available very clearly, so the list below gives a summary of a few of the more well known in addition to some of the lesser obvious discounts you could be receiving when you buy car insurance online.

• Accident Waiver – This one is not really a discount per se, but a handful of insurance companies may permit one accident before raising your premiums if you are claim-free before the accident.
• Renewal Discounts – Some insurance coverage companies reward drivers for switching to them early. You could save around 10% when you buy car insurance online.
• Discount for Multiple Policies – If you can bundle your auto and homeowners insurance and place coverage with the same company you could get a discount of approximately 10% to 15%.
• Drivers Ed for Students – Cut your cost by having your teen driver sucessfully take a drivers education course as it can save substantially.
• Homeowners Pay Less – Simply owning a home can save you money because maintaining a house shows financial diligence.

A little disclaimer on discounts, many deductions do not apply to the entire cost. Some only apply to specific coverage prices like comprehensive or collision. So when it seems like you can get free auto insurance, companies wouldn’t make money that way.

The best insurance coverage companies and some of their more popular discounts are:

• The Hartford may include discounts for vehicle fuel type, defensive driver, bundle, good student, and air bag.
• American Family offers discounts for Steer into Savings, good driver, mySafetyValet, bundled insurance, and TimeAway discount.
• Progressive includes discounts for multi-vehicle, continuous coverage, good student, multi-policy, online quote discount, homeowner, and online signing.
• Travelers may have discounts that include multi-policy, good student, multi-car, hybrid/electric vehicle, and payment discounts.
• Farmers Insurance has discounts for switch companies, pay in full, early shopping, alternative fuel, and business and professional.
• USAA offers discounts including good student, driver training, vehicle storage, annual mileage, family discount, multi-policy, and new vehicle.
• Liberty Mutual discounts include newly retired, newly married, exclusive group savings, new vehicle discount, and multi-policy.

If you are trying to find low cost car insurance quotes, ask each company or agent which discounts they offer. All car insurance discounts might not be available to policyholders in your area. If you would like to see a list of providers with the best discounts, click here.

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What insurance coverages do I need?

When it comes to choosing adequate coverage, there isn’t really a best way to insure your cars. Everyone’s needs are different and a cookie cutter policy won’t apply. Here are some questions about coverages that can aid in determining whether you might need professional guidance.

• How do I buy GAP insurance?
• When do I need to add a new car to my policy?
• When should I not file a claim?
• Is my vehicle covered by my employer’s policy when using it for work?
• Am I covered if I break a side mirror?
• How does medical payments coverage work?
• How high should deductibles be on a 2004 Honda Element?
• Is business property covered if stolen from my car?
• Am I covered when renting a car or should I buy coverage from the car rental agency?

If you’re not sure about those questions but you know they apply to you, you may need to chat with a licensed insurance agent. To find an agent in your area, take a second and complete this form or you can go here for a list of companies in your area.

What auto insurance coverages do you need?

Having a good grasp of auto insurance aids in choosing the right coverages and proper limits and deductibles. Policy terminology can be ambiguous and reading a policy is terribly boring. These are typical coverage types offered by auto insurance companies.

Comprehensive auto insurance

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

Comprehensive can pay for things like damage from flooding, damage from getting keyed, rock chips in glass, fire damage and a broken windshield. The highest amount a auto insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.

Coverage for uninsured or underinsured drivers

This gives you protection when the “other guys” either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family and also any damage incurred to your Honda Element.

Because many people only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family. Frequently these limits are identical to your policy’s liability coverage.

Auto collision coverage

Collision coverage pays to fix your vehicle from damage from colliding with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.

Collision insurance covers things like crashing into a building, colliding with a tree, backing into a parked car and damaging your car on a curb. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from lower value vehicles. Drivers also have the option to raise the deductible in order to get cheaper collision rates.

Liability insurance

This coverage provides protection from injuries or damage you cause to other’s property or people by causing an accident. This coverage protects you from claims by other people, and doesn’t cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see values of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and $50,000 of coverage for damaged propery. Occasionally you may see one limit called combined single limit (CSL) which combines the three limits into one amount rather than limiting it on a per person basis.

Liability coverage protects against things like emergency aid, funeral expenses and pain and suffering. How much liability coverage do you need? That is a decision to put some thought into, but you should buy higher limits if possible.

Coverage for medical expenses

Med pay and PIP coverage provide coverage for bills for things like hospital visits, ambulance fees and dental work. The coverages can be utilized in addition to your health insurance program or if you do not have health coverage. Medical payments and PIP cover you and your occupants as well as if you are hit as a while walking down the street. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Have money to burn

As you restructure your insurance plan, never skimp on coverage in order to save money. There have been many situations where drivers have reduced collision coverage to discover at claim time that a couple dollars of savings turned into a financial nightmare. Your strategy should be to find the BEST coverage for the lowest price while not skimping on critical coverages.

In this article, we covered a lot of tips how to get a better price on 2004 Honda Element insurance. It’s most important to understand that the more price quotes you have, the higher your chance of finding cheap car insurance. You may be surprised to find that the lowest rates are with a small mutual company. These companies can often insure niche markets at a lower cost compared to the large companies like State Farm and Allstate.

More articles

• What is Gap Insurance? (Insurance Information Insitute)
• What Does No-Fault Insurance Cover? (Allstate)
• Car Insurance: When not to Skimp (BankRate.com)
• Reducing Your Risks in a Car Crash Video (iihs.org)
• Vehicle Safety Ratings (iihs.org)
• Teen Driving Statistics (Geico)

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