How Much Does 2002 Honda Accord Insurance Cost?

Searching for lower auto insurance rates for your Honda Accord? Are you regretting the purchase of an expensive auto insurance policy? Don’t feel bad because many consumers are in the same pinch. Companies like Allstate and Progressive continually bombard you with ads and it can be hard to sift through the bull and effectively compare rates to find the best deal.

It’s a great practice to compare prices quite often because prices tend to go up over time. Just because you found the lowest price on Accord coverage last year you can probably find a better rate now. There is too much inaccurate information about auto insurance on the web, but in a few minutes you can learn some tested techniques to lower your auto insurance bill.

Compare free insurance coverage quotes

There are multiple methods to compare insurance coverage prices and some are more efficient than others. You can spend your afternoon discussing policy coverages with insurance agencies in your area, or you can stay home and use the web to get prices fast.

Many of the larger companies are enrolled in a marketplace that enables customers to submit one quote, and every company can give them a price. This eliminates the need for repetitive form submissions to every company.

To get comparison pricing now click here to open in new window.

The only drawback to comparing rates this way is you cannot specify which carriers you want to price. If you prefer to choose from a list of companies to receive pricing from, we have a page of insurance coverage companies in your area. Click here to view list.

It doesn’t matter which method you choose, just make absolute certain that you use identical quote data for each price quote. If you compare different limits and deductibles on each one you will not be able to decipher which rate is best.

More discounts mean lower-cost premiums

Companies offering auto insurance don’t necessarily list the complete list of policy discounts in an easy-to-find place, so the following list contains both well-publicized and also the more inconspicuous credits available to you. If you’re not getting every credit you qualify for, you could be getting lower rates.

  • Multi-line Discount – Select insurance companies reward you with lower insurancerates if you buy a life policy as well.
  • Military Rewards – Having an actively deployed family member could mean lower insurance rates.
  • Anti-theft System – Cars, trucks, and SUVs that have factory anti-theft systems are stolen less frequently and can earn a small discount on your policy.
  • Anti-lock Brake System – Vehicles equipped with ABS or steering control have fewer accidents and qualify for as much as a 10% discount.
  • Onboard Data Collection – Policyholders that allow their company to study their driving habits remotely such as In-Drive from State Farm or Allstate’s Drivewise system may get a rate reduction as long as the data is positive.
  • Drive Safe and Save – Drivers without accidents may receive a discount up to 45% on Accord coverage than drivers with accidents.
  • Use Seat Belts – Drivers who always wear seat belts and also require passengers to use a seat belt may be able to save a few bucks on the medical payments or PIP coverage costs.
  • Student Discounts – Performing well in school can get you a discount of up to 25%. Many companies even apply the discount to college students until age 25.
  • Driver’s Education for Students – Cut your cost by having your teen driver successfully complete driver’s ed class if offered at their school.

Drivers should understand that many deductions do not apply to all coverage premiums. Most only reduce specific coverage prices like comp or med pay. So despite the fact that it appears all those discounts means the company will pay you, nobody gets a free ride.

The best insurance companies and a summarized list of policyholder discounts are outlined below.

  • State Farm has discounts for multiple policy, student away at school, driver’s education, accident-free, and good student.
  • Geico has savings for multi-policy, seat belt use, multi-vehicle, anti-theft, and emergency military deployment.
  • Progressive may have discounts that include multi-vehicle, online signing, online quote discount, continuous coverage, homeowner, multi-policy, and good student.
  • 21st Century policyholders can earn discounts including 55 and older, defensive driver, air bags, homeowners, student driver, theft prevention, and early bird.
  • American Family may include discounts for TimeAway discount, bundled insurance, early bird, multi-vehicle, and air bags.
  • The Hartford offers discounts including air bag, good student, driver training, vehicle fuel type, anti-theft, and defensive driver.
  • AAA discounts include good driver, AAA membership discount, good student, pay-in-full, and education and occupation.

If you need low cost insurance coverage quotes, ask every insurance company which discounts you may be entitled to. Some of the discounts discussed earlier might not be available to policyholders everywhere.

Buy Honda Accord insurance cheaper

Smart consumers have a good feel for some of the elements that aid in calculating your premiums. When consumers understand what positively or negatively impacts your premiums, this allows you to make good choices that can earn you cheaper rates.

  • Car and home together may be cheaper – Lots of companies will give lower prices for people who buy several policies from them. It’s known as a multi-policy discount. Discounts can be 10 percent or more. Even if you qualify for this discount already, it’s still a good idea to compare rates to ensure the best deal. Consumers may find a better deal by splitting coverages up.
  • Premiums drop with age – Mature drivers are more responsible, cause fewer claims and accidents and receive fewer citations.Teenage drivers tend to be easily distracted when behind the wheel so they pay higher insurance coverage rates.
  • Keep rates low by being claim-free – If you frequently file small claims, you should expect higher rates. Auto insurance companies generally give the lowest premiums to insureds who do not file claims often. Your car insurance is intended for major claims that would cause financial hardship.
  • Gender as a rate factor – Statistics show that men are more aggressive behind the wheel. It does not mean women are better drivers. Both genders get in fender benders at a similar rate, but the male of the species tend to have higher claims. Men also tend to get ticketed for serious violations such as reckless driving.
  • Better credit means lower premiums – Your credit score will be a significant factor in determining what you pay for insurance coverage. Insureds that have good credit tend to be less risk to insure than drivers with poor credit scores. If your credit is lower than you’d like, you could pay less to insure your 2002 Honda Accord by spending a little time repairing your credit.
  • Stress out and pay more – Do you work in a high-stress field? Jobs like lawyerspolice officers and stock brokers have higher rates than average due to stressful work requirements and lots of time spent away from family. Conversely, professions such as actors, historians and performers receive lower rates on Accord coverage.

It’s not one size fits all

When it comes to choosing coverage for your personal vehicles, there is no “perfect” insurance plan. Everyone’s situation is a little different and a cookie cutter policy won’t apply. For example, these questions may help highlight if you would benefit from an agent’s advice.

  • Should I bundle my homeowners policy with my auto?
  • Should I sign the liability waiver when renting a car?
  • How much liability do I need to cover my assets?
  • When should I buy a commercial auto policy?
  • How high should my medical payments coverage be?
  • How much can I save by bundling my policies?
  • Do I pay less if my vehicle is kept in my garage?

If you don’t know the answers to these questions but you know they apply to you, you might consider talking to an insurance agent. If you don’t have a local agent, fill out this quick form or go to this page to view a list of companies. It only takes a few minutes and can provide invaluable advice.

Misconceptions in insurance coverage advertisements

Consumers get pounded daily by advertisements for cheaper insurance coverage from companies such as Progressive, Allstate and Geico. All the ads advertise the message that drivers will save a bundle if you switch to them.

How does every company charge you a lower premium? You have to listen carefully.

All companies give the cheapest rates for the type of insured that earns them a profit. A good example of a preferred risk should be over the age of 35, has a clear driving record, and has a short commute. A customer that matches those criteria will get a cheap rate quote and will save when they switch companies.

People who are not a match for these stringent criteria will have to pay higher premiums which usually ends up with the customer buying from a different company. The trick companies use is to say “customers that switch” but not “all drivers who get quotes” save that kind of money. That is how insurance companies can confidently make it sound like they have such great prices. Because of this risk profiling, you absolutely need to compare many company’s prices. It is impossible to guess with any certainty which company will give you the biggest savings.

Coverage specifics

Understanding the coverages of insurance aids in choosing the best coverages at the best deductibles and correct limits. Policy terminology can be impossible to understand and nobody wants to actually read their policy. Listed below are the usual coverages offered by insurance companies.

Comprehensive coverage (or Other than Collision) – Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things like fire damage, a broken windshield, hail damage, a tree branch falling on your vehicle and hitting a bird. The highest amount you’ll receive from a claim is the actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Uninsured Motorist or Underinsured Motorist insurance – Your UM/UIM coverage gives you protection when other motorists either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family and damage to your Honda Accord.

Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea.

Collision – Collision coverage pays for damage to your Accord caused by collision with another car or object. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for things like driving through your garage door, damaging your car on a curb and rolling your car. This coverage can be expensive, so consider dropping it from lower value vehicles. Another option is to increase the deductible in order to get cheaper collision rates.

Insurance for medical payments – Med pay and PIP coverage kick in for bills for X-ray expenses, pain medications and dental work. They are often used in conjunction with a health insurance program or if you lack health insurance entirely. They cover you and your occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage

Liability auto insurance – This provides protection from damage or injury you incur to other people or property that is your fault. It protects YOU from claims by other people, and doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 50/100/50 which stand for $50,000 bodily injury coverage, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property.

Liability can pay for things such as emergency aid, attorney fees and medical expenses. How much coverage you buy is up to you, but buy as large an amount as possible.

Don’t be a big spender

When shopping online for auto insurance, never reduce coverage to reduce premium. There are many occasions where someone sacrificed physical damage coverage and learned later that the few dollars in savings costed them thousands. Your objective should be to find the BEST coverage at an affordable rate but still have enough coverage for asset protection.

Discount 2002 Honda Accord insurance is definitely available both online in addition to many insurance agents, and you should compare price quotes from both to get a complete price analysis. There are still a few companies who may not provide rate quotes online and most of the time these small, regional companies prefer to sell through independent insurance agencies.

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