Honda CR-V insurance policy image courtesy of QuoteInspector.com
Buying cheap coverage for a Honda CR-V in Texas is dependent upon a pretty complex algorithm that uses a lot of factors such as the safety rating of your vehicle, the condition of your credit, and if you have tickets or violations. Drivers will pay on average $737 a year to insure their CR-V, but that cost is a projection calculated using a 40-year-old married female driver with full coverage and $1,000 deductibles.
Most likely you may not be 40 years old (or even female), single instead of married, or maybe you are just looking for cheap liability insurance. Car insurance coverage is unique to each driver, so this is why the only real way to find the cheapest coverage for your Honda is to do the rate comparisons yourself.
The trim level of your CR-V impacts the insurance rate, so the rate you pay to insure a CR-V LX 2WD will be $20 cheaper than the price to insure the fancier CR-V EX-L 4WD model, as shown in the table below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| CR-V LX 2WD | $136 | $252 | $340 | $20 | $102 | $850 | $71 |
| CR-V EX 2WD | $136 | $252 | $340 | $20 | $102 | $850 | $71 |
| CR-V LX 4WD | $136 | $252 | $340 | $20 | $102 | $850 | $71 |
| CR-V EX 4WD | $156 | $252 | $340 | $20 | $102 | $870 | $73 |
| CR-V EX-L 2WD | $156 | $252 | $340 | $20 | $102 | $870 | $73 |
| CR-V EX-L 4WD | $156 | $252 | $340 | $20 | $102 | $870 | $73 |
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Table data represents married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Price information does not factor in vehicle garaging location which can alter coverage rates significantly.
Finding out which insurers offer the cheapest auto insurance rates for a Honda CR-V may require a bit more effort than just comparing a company or two. Each auto insurer uses their own calculation to set their prices, so we'll take a look at the auto insurance companies that tend to have lower prices in Austin.
It's important to understand that Texas auto insurance rates are determined by lots of factors which can substantially decrease or increase the policy premium. Simply turning a year older, filing a claim, or getting a driving violation can produce rate changes that may make certain companies more affordable than competitors.
Cheap Insurance Rates for Your Honda
Travelers quotes some of the lowest car insurance rates in Austin at around $1,041 a year. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty would also be considered some of the cheaper Austin, TX car insurance companies.
As shown in the table above, if you have coverage with USAA and switched to Travelers, you may see yearly savings of in the vicinity of $54. Policyholders with Texas Farm Bureau could save as much as $194 a year, and Germania Mutual customers might realize rate reductions of up to $241 a year.
To discover how much you can save, click here or quote prices from the following companies.
Bear in mind that those estimates are averaged for all insureds and vehicles and do not take into consideration an exact location for a Honda CR-V. So the auto insurance company that fits your needs best may not even be in the list above. That point stresses why you need to get rate quotes from many companies using your own driver data and vehicle information.
Violations and accidents raise rates
The recommended way to maintain the best auto insurance rates for a CR-V is to be an attentive driver and avoid tickets and accidents. The diagram below highlights how speeding tickets and at-fault claims impact auto insurance costs for each age group. The price estimates are based on a single male driver, comp and collision included, $500 deductibles, and no additional discounts are factored in.
In the chart above, the average cost of auto insurance per year with no accidents and a clean driving record is $1,831. Add in two speeding tickets and the average cost hikes up to $2,421, an increase of $590 each year. Then throw in two accidents along with the two speeding tickets and the 12-month cost of auto insurance for a Honda CR-V goes up to an average of $4,676. That's an increase of $2,845, or $237 per month, just for not paying attention while driving!
The importance of shopping around for CR-V insurance
Texas auto insurance rates are calculated based on many things that may substantially change the price you have to pay. Getting older, buying higher coverage limits, or getting a reckless driving citation can trigger rate changes that may make certain companies more affordable than the competition. Not only may your situation change, but companies change their prices without warning to adjust for heavy claims or excess profits. An extended period of higher than normal claims may result in higher priced premiums, while lower claim expenses may result in more affordable CR-V insurance rates.
As an example, the graph below shows which companies have the cheapest car insurance in Austin, TX for a 40-year-old female driver with no violations or accidents, and a good credit rating. Based on her current risk factors, Travelers might offer the cheapest car insurance rates in Austin at $1,138 per year. This is $766 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are the remaining most affordable Austin, TX auto insurance companies.
The next chart shows rates after we give the driver in the first example a claim, less-than-perfect credit, and a traffic ticket or two. Due to the fact that every auto insurer has a proprietary method for setting rates, comparing quotes could result in a completely different list of the cheapest car insurance companies in Austin as shown below.
State Farm now has the cheapest auto insurance in Austin, TX with Mercury, Nationwide, USAA, and Safe Auto also being competitive. This example proves why it is critical to take the time to shop around when trying to find cheap auto insurance rates for a Honda CR-V.
Auto insurance prices are made up of many risk factors and change dramatically, so the cheapest option the last time you checked may now be priced much higher than other options.
How to find economical insurance for a Honda CR-V
Below you'll find many thrifty solutions that can help Texas drivers locate low-cost coverage.
- Raise comprehensive and collision coverage deductibles
- Drop full coverage on older vehicles
- Improve your credit score
- Vehicles with safetly features generally cost less to insure
- Just one traffic violation will increase your rates
- At-fault accidents will increase rates
- Compare rates regularly to ensure the best deal
The final tip is extraordinarily vital, as we discussed in the article above. Rates can be changed at any time, so don't be unwilling to buy from a different company if you find a cheaper price. Having brand loyalty is commendable, but it's not a good idea if it's costing you a lot of money. Spend a few minutes and compare rates to find cheaper insurance for a Honda CR-V in Austin.