Honda Accord insurance cost image courtesy of QuoteInspector.com
If you're searching for more affordable insurance on the web, are you intimidated by the wide range of auto insurance choices available to you? Drivers have such a large number of options that it can easily become a ton of work to find a cheaper company. Austin is an awesome place to live, but inflated auto insurance prices can make it nearly impossible for many drivers to make ends meet.
A recent auto insurance study discovered that nearly 70% of drivers have been with the same company for over three years, and practically 40% of auto insurance customers have never compared rate quotes at all. With the average premium in Texas being $2,679, drivers can cut their rates by nearly 70% a year by just shopping around, but they just don't understand how easy it is to save money by comparing rate quotes.
If you currently have insurance, you should be able to find the best rates using the concepts covered in this article. This article will tell you the best ways to compare prices and some tips to save money. But Texas vehicle owners do need to understand how big insurance companies determine how much to charge because rates are impacted by many factors.
When looking for inexpensive Austin car insurance quotes, there are a couple ways of comparing rate quotes from many different Texas insurance companies. The best way to lower the rate you pay for Honda Accord Hybrid insurance is to jump online and get quotes.
Keep in mind that quoting more helps improve the odds of finding more affordable insurance. Some regional insurers cannot provide price estimates online, so it's important to also get quotes from the smaller companies as well.
The companies shown below can provide price quotes in Austin, TX. If several companies are displayed, we suggest you visit two to three different companies to get the most affordable price.
Why insurance is not optional
Despite the high cost of buying insurance for a Honda Accord Hybrid in Austin, maintaining insurance is required for several reasons.
- Most states have minimum liability requirements which means you are required to buy a minimum amount of liability in order to get the vehicle licensed. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a lien on your Honda, almost all lenders will make it a condition of the loan that you have physical damage coverage to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the bank may buy a policy for your Honda at a much higher premium rate and force you to pay for the expensive policy.
- Insurance protects both your vehicle and your assets. It will also reimburse you for medical expenses that are the result of an accident. As part of your policy, liability insurance will also pay to defend you if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, your insurance policy will cover the repair costs.
The benefits of carrying enough insurance outweigh the cost, specifically if you ever have a liability claim. As of last year, the average driver in Texas is wasting up to $855 a year so compare quotes from several companies every year to ensure rates are inline.
Why Smart Buyers Pay Less for Honda Accord Hybrid Insurance
When buying auto insurance it's important to understand the factors that go into determining your policy premiums. If you have a feel for what controls the rates you pay, this empowers consumers to make smart changes that can earn you lower auto insurance prices. Multiple criteria are part of the calculation when you quote your car insurance policy. Some factors are common sense like your driving record, but other factors are more obscure such as your credit history and annual miles driven.
- No insurance claims equals cheaper auto insurance rates - If you file claims often, you can expect higher rates. Auto insurance companies in Texas provide the lowest premiums to people who do not rely on their insurance for small claims. Your insurance policy is intended for more catastrophic claims.
- Premiums increase with driving tickets - Just one moving violation can increase the cost of insurance to the point where it's not affordable. Attentive drivers receive lower rates compared to bad drivers. People who have severe citations like reckless driving, hit and run or driving under the influence may need to prove financial responsibility with their state motor vehicle department in order to legally drive.
- Buy as much liability as you can afford - Your policy's liability coverage provides coverage when a jury decides you are liable for damages from an accident. Your liability coverage provides you with a defense in court up to the limits shown on your policy. This coverage is relatively inexpensive compared to other policy coverages, so drivers should make sure they buy enough to cover all assets.
- Increase coverage deductibles and save - Physical damage coverage, otherwise known as comp (or other than collision) and collision, covers damage that occurs to your Honda. Examples of covered claims are a broken windshield, hail damage, and windstorm damage. Comprehensive and collision coverage deductibles are the amount of money you are required to pay before your auto insurance pays a claim. The more damage repair cost you're willing to pay, the less money you will pay for auto insurance.
- Safer the car lower the rate - Cars with high safety ratings tend to have better insurance rates. The safest vehicles help reduce the chance of injuries in an accident and reduced instances of injuries means lower claim amounts and cheaper rates on your policy. If your Honda Accord Hybrid is rated at a minimum an "acceptable" rating on the Insurance Institute for Highway Safety website you may pay a lower rate.
- Younger drivers pay higher premiums - Drivers with little experience are proven to be inattentive in a vehicle so they pay higher auto insurance rates. Adding a young driver onto your auto insurance can cause a big jump in price. Older drivers are proven to be safer behind the wheel, tend to cause fewer accidents, and usually have better credit.
- Performance impacts costs - The type of car or truck you are insuring makes a huge difference in your premium level. Since the Honda Accord Hybrid is a passenger car, insuring your vehicle will cost similar in price or lower than the average rate where you live in Austin. Low performance passenger models normally have pretty low rates, but there are many factors that impact the final cost.
- Never let your coverage expire - Having a lapse in insurance coverage is a sure-fire way to increase your rates. In addition to paying higher rates, failure to provide proof of insurance may result in fines and jail time. You may have to file a SR-22 with the Texas motor vehicle department.
- Claims statistics for a Honda Accord Hybrid - Insurers use historical loss data as a way to help calculate a profitable premium rate. Models that the data shows to have a trend towards higher claim severity or frequency will have increased rates.
The next table illustrates the loss history for Honda Accord Hybrid vehicles. For each coverage category, the statistical loss for all vehicles, regardless of manufacturer or model, is equal to 100. Values that are 100 or less are indicative of better than average losses, while numbers shown that are more than 100 point to more claims or an increased chance of a larger loss.Insurance Loss Ratings for Honda Accord Hybrid Vehicles
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Honda Accord Hybrid 96 80 98 89 76 84 Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Get cheaper Honda Accord Hybrid insurance in Austin with discounts
Companies offering auto insurance don't always list the entire discount list in a way that's easy to find, so the next list breaks down a few of the more well known and also the more inconspicuous savings tricks you should be using when you buy Austin car insurance online.
- Air Bag Discount - Options like air bags or motorized seat belts could see savings up to 30%.
- Discounts for New Vehicles - Insuring a vehicle that is new can get you a discount because new vehicles have to meet stringent safety requirements.
- Renewal Discounts - A few insurance companies offer discounts for buying a new policy prior to your current Accord Hybrid insurance policy expiration. It could save around 10% when you buy Austin car insurance online.
- Multiple Policy Discount - When you combine your homeowners and auto insurance with one company you could get a discount of at least 10% off all policies.
- Paperless Signup - A few companies may give you up to $50 for buying your policy online.
- Military Rewards - Being on active deployment in the military could be rewarded with lower rates.
- Discount for Low Mileage - Fewer annual miles on your Honda may allow you to get discounted rates on garaged vehicles.
Remember that most discount credits are not given to your bottom line cost. Most only reduce the price of certain insurance coverages like medical payments or collision. Just because it seems like you can get free auto insurance, you won't be that lucky. But any discount should help reduce your policy premiums.
For a list of insurance companies with significant discounts in Texas, click here to view.
You may need specialized car insurance coverage
When quoting and choosing proper insurance coverage, there really is no cookie cutter policy. Everyone's situation is a little different.
For instance, these questions might help in determining whether you might need professional guidance.
- Do I need an umbrella policy?
- How high should my medical payments coverage be?
- Does coverage follow the driver or the vehicle?
- Can I use my car for my catering business?
- Can I rent a car in Mexico?
- Can good grades get a discount?
- Can I drive in Mexico and have coverage?
- Do I need special endorsements for business use of my vehicle?
If you can't answer these questions but a few of them apply then you might want to talk to a licensed agent. If you don't have a local agent, fill out this quick form.
Compare rates but still have a neighborhood Austin auto insurance agent
A small number of people just prefer to get advice from a local agent and doing so can bring peace of mind One of the best bonuses of comparing rates online is you may find better rates and still choose a local agent. Buying insurance from local insurance agents is especially important in Austin.
For easy comparison, once you complete this short form, the quote information gets sent to local insurance agents who will give you bids for your coverage. It's much easier because you don't need to search for any insurance agencies as quotes are delivered to you. You can find lower rates without requiring a lot of work. If for some reason you want to quote rates for a specific company, you just need to find their quoting web page and fill out their quote form.
What type of Austin car insurance agent is right for you?
When searching for a good insurance agency, you should know the types of agencies and how they function. Agencies in Austin are considered either independent (non-exclusive) or exclusive.
Independent Agencies or Brokers
Agents that elect to be independent are normally appointed by many insurers and that allows them to write policies through many different car insurance companies and find you cheaper rates. If they find a cheaper price, your agent can just switch to a different company which is easy for the insured. If you are comparing car insurance prices, you should always include a couple of independent agencies to have the most options to choose from. Most also write with less well-known companies which could offer lower prices.
Listed below are Austin independent agents who may provide pricing information.
- Stanley Insurance Agency
512 W Stassney Ln #113 - Austin, TX 78745 - (512) 445-5555 - View Map - Southwest Insurance Center
3105 W Slaughter Ln - Austin, TX 78748 - (512) 280-6100 - View Map - EZ Insurance Agency
343 S Congress Ave - Austin, TX 78704 - (512) 444-3279 - View Map
Exclusive Insurance Agents
These agents write business for a single company and examples are Allstate, AAA, Farmers Insurance, and State Farm. They are unable to place coverage with different providers so always compare other rates. Exclusive insurance agents are well schooled on their company's products which helps them sell insurance even at higher premiums. Some insured continue to buy from the same agent for years partially due to the brand legacy rather than low rates.
Shown below is a list of exclusive agents in Austin who can help you get price quote information.
- Larry Evins - State Farm Insurance Agent
4534 West Gate Blvd #202 - Austin, TX 78745 - (512) 327-0303 - View Map - Richard Munoz - State Farm Insurance Agent
5446 W US Hwy 290 Service Rd #104 - Austin, TX 78735 - (512) 892-3527 - View Map - Allstate Insurance: Fleming and Conway Agency
3435 Greystone Dr Ste 107 - Austin, TX 78731 - (512) 345-0005 - View Map
Selecting an insurance agency is decision based upon more than just a cheap price. You should also get answers to these questions.
- Are there any discounts for paying up front?
- Is there a local claims center in Austin?
- Is there a Errors and Omissions policy in force?
- Is the coverage adequate for your vehicle?
- Where would glass claims be handled in Austin?
- Does the company use OEM repair parts?
- Will one accident increase rates?
- Are all drivers listed on the coverage quote?
More quotes mean more insurance savings
In this article, we presented many tips how you can compare Honda Accord Hybrid insurance rates in Austin. The most important thing to understand is the more rate comparisons you have, the higher your chance of finding cheaper Austin car insurance quotes. Consumers could even find that the biggest savings come from an unexpected company.
Drivers change insurance companies for any number of reasons including high rates after DUI convictions, lack of trust in their agent, extreme rates for teen drivers or even delays in paying claims. No matter why you want to switch, choosing a new insurance company can be easy and end up saving you some money.
When buying insurance coverage, it's a bad idea to sacrifice coverage to reduce premiums. Too many times, someone sacrificed comprehensive coverage or liability limits to discover at claim time that saving that couple of dollars actually costed them tens of thousands. Your strategy should be to purchase plenty of coverage at the lowest possible cost, but do not skimp to save money.
Additional information is available at the links below
- How Much Auto Coverage do I Need? (Insurance Information Institute)
- Who Has Cheap Car Insurance for a Jeep Wrangler in Austin? (FAQ)
- Who Has Cheap Auto Insurance for Hybrid Vehicles in Austin? (FAQ)
- How Much are Austin Auto Insurance Rates for Real Estate Agents? (FAQ)
- Who Has Cheap Car Insurance for a Subaru Forester in Austin? (FAQ)
- Who Has the Cheapest Auto Insurance for Drivers with Bad Credit in Austin? (FAQ)
- Booster Seat Ratings (iihs.org)
- Teen Driving and Texting (State Farm)
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- How to shop for a safer car (Insurance Institute for Highway Safety)