When it comes to the Honda Accord’s insurance cost, rates vary depending on several key factors. As one of the top midsize vehicles on the market, the Accord offers competitive insurance rates for almost every type of driver, and if you shop around, you can secure even better car insurance prices.
Honda Accord Insurance Rates
Car insurance rates for the Honda Accord are about $1310 annually. That comes out to about $109 per month on average. Compared to the average vehicle, the Accord’s insurance rates are approximately $209 less for full coverage.
If you opt for a liability-only policy, expect to pay about $525 annually or $44 each month. Good drivers also benefit and can save up to $540 annually through policy discounts. These numbers are according to Expert Insurance Reviews.
Teenage drivers are considered high-risk drivers and pay the highest rates of about $4788 annually or $399 per month.
Use this chart to compare the Accord’s annual insurance rates to other sedans:
- Honda Accord: $1310.
- Subaru WRX: $1360.
- Volkswagen Passat: $1480.
- Chrysler 300: $1514.
- Infiniti Q50: $1586.
- Audi S4: $1588.
- Lincoln MKZ: $1636.
Honda Accord Insurance Variables
Depending on your Honda Accord’s trim and model, the total insurance price you pay will vary. Other factors to consider when comparing insurance costs include:
- Vehicle age. Older Honda Accord models are usually cheaper to insure. For instance, according to Expert Insurance Reviews, insurance for a 2020 Accord costs $1310 compared to a 2010 Accord, which costs $1094. This is a difference of $216.
- Driver age. The driver’s age can factor into the insurance cost for an Accord. A 30-year-old Accord driver pays about $58 more than a 40-year-old driver.
- Driver location. Where the Accord driver lives impacts insurance rates. Drivers in Los Angeles pay about $485 annually more than Accord drivers who live in Philadelphia.
- Driver’s record. Driving record can also impact auto insurance for an Accord. Teenagers and drivers in their 20s might experience the highest increase in car insurance, especially if they have violations.
How Do Safety Ratings Affect Insurance Rates?
Vehicle safety ratings also affect insurance rates. According to the Insurance Institute for Highway Safety (IIHS), the 2021 Accord’s test type and rating include:
- Small overlap front on the driver’s side: Good.
- Small overlap front on the passenger side: Good.
- Moderate overlap on the front: Good.
- Side: Good.
- Roof strength: Good.
- Head restraints and seats: Good.
The better the Accord’s crash test ratings, the better chance you have for cheaper car insurance rates. The IIHS named the vehicle a Top Safety Pick+.
Another key contributor to lower insurance rates are the vehicle’s safety features. When looking at the 2020 Accord, pay attention to:
- Driver-side air bag.
- Passenger-side air bag.
- Front head air bag.
- Rear head air bag.
- Front side air bag.
- Four-wheel anti-lock braking system.
- Four-wheel disc brakes.
- Brake assist.
- Electronic stability control.
- Daytime running lights.
- Child safety locks.
- Traction control.
- Lane-keeping assist.
- Lane-departure warning.
How Can You Lower Your Accord Insurance Costs?
Even if you have high car insurance rates for your Honda Accord, you can take steps to lower them. These tips might help lower your car insurance bill:
- Purchase an older Accord.
- Ask about loyalty discounts.
- Examine your policy to make sure you’re not overpaying for coverage you don’t need.
- Confirm that all information on your policy is correct.
- Bundle your auto insurance with other insurance policies.
- Ask for a discount if you have at least a college degree.
Which Car Insurance Company Gives You the Best Accord Rates?
With so many car insurance companies available, you might feel overwhelmed choosing one. How do you know which one will give you the best rates to cover your Accord? While the actual rates depend upon several factors, use this chart to examine the top companies by volume that offer Accord auto insurance coverage. Keep in mind that several companies offer discounts for certain safety features implemented in the Accord:
- State Farm: $65,615,190.
- GEICO: $46,106,971.
- Progressive: $39,222,879.
- Liberty Mutual: $35,600,051.
- Allstate: $35,025,903.
- Travelers: $28,016,966.
- USAA: $23,483,080.
- Chubb: $23,388,385.
- Farmers: $20,643,559.
- Nationwide: $18,442,145.
What States Offer the Highest and Lowest Rates for the Accord?
Where you live is another factor to consider when looking at the Honda Accord insurance cost. According to Cheap Car Insurance, Maine is the cheapest state with its average rate of $68, while Michigan is the most expensive at $199. The state average comes in around $116.
When looking at Accord models ranging from 2014 to 2019 owned by a 30-year-old man, on average it costs $2163 annually to insure the vehicle. However, if that same driver had a newer 2019 Accord, he would pay $2374 annually to insure it. This is a 19 percent increase. If an 18-year-old driver owned the same vehicle, he would pay $7681 annually on average.
The average annual cost for a 30-year-old versus an 18-year-old driver of an Accord are:
- 2019 Accord: $2374 for the 30-year-old driver and $8380 for the 18-year-old driver.
- 2018 Accord: $2271 for the 30-year-old driver and $8063 for the 18-year-old driver.
- 2017 Accord: $2173 for the 30-year-old driver and $7706 for the 18-year-old driver.
- 2016 Accord: $2102 for the 30-year-old driver and $7455 for the 18-year-old driver.
- 2015 Accord: $2061 for the 30-year-old driver and $7341 for the 18-year-old driver.
- 2014 Accord: $1998 for the 30-year-old driver and $7143 for the 18-year-old driver.
Although insurance for the Accord is moderately expensive, the sedan was the fourth-most expensive model, according to ValuePenguin. It also costs $12 more than the overall average price for Honda insurance at $2151. Even though the Accord is a larger and more expensive car than the Civic, which is Honda’s other sedan, coverage for the Accord was $207 cheaper.
As one of the best-selling cars in the United States since 1989, the Honda Accord is a popular choice if you’re looking for a quality vehicle. If you’re worried about how much car insurance costs with the Accord, note that the prices are comparable to similar vehicles on the market, and if you do a little research, you can save even more.
Sources:
https://www.expertinsurancereviews.com/best-honda-accord-insurance-rates/
https://www.thezebra.com/auto-insurance/vehicles/honda/accord/
https://www.valuepenguin.com/cost-of-honda-car-insurance
https://www.cheapcarinsurance.net/rates/honda/accord-all-trims
https://www.buyautoinsurance.com/cars/honda/accord/
https://www.iihs.org/ratings/vehicle/honda/accord-4-door-sedan/2021
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