What Insurance is Cheapest for a Honda CR-V in Lubbock?

Finding affordable car insurance for a Honda CR-V relies on a lot of different factors such as whether you are single or married, the size of your vehicle, and violations on your driving record. Drivers in Texas pay around $1,090 each year to insure their CR-V, but that is an estimate based on a 40-year-old single male driver with both comprehensive and collision coverage and $250 deductibles.

Most likely you aren’t exactly 40 years old or even a male, possibly married instead of single, or maybe you have a teen driver on your policy that needs to be considered. Having even a minor difference in rating factors or requested coverage amount can result in a massive change in the policy rate.

This demonstrates why the best method for finding the cheapest insurance price for your Honda is to just take the time to compare rates yourself.

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The trim level of your vehicle will most likely have an effect on the yearly cost, so the cost to insure a CR-V LX 2WD will be $36 cheaper than the insurance cost for the more costly CR-V EX-L 4WD version, as shown in the chart below.

Honda CR-V Insurance Rates in Lubbock, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $252 $468 $392 $24 $118 $1,254 $105
CR-V EX 2WD $252 $468 $392 $24 $118 $1,254 $105
CR-V LX 4WD $252 $468 $392 $24 $118 $1,254 $105
CR-V EX 4WD $288 $468 $392 $24 $118 $1,290 $108
CR-V EX-L 2WD $288 $468 $392 $24 $118 $1,290 $108
CR-V EX-L 4WD $288 $468 $392 $24 $118 $1,290 $108
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Table data represents single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Price information does not factor in specific location which can lower or raise prices considerably.

Lubbock auto insurance company ratings

Picking the top insurance company can be a challenge considering how many different companies sell coverage in Lubbock. The ranking data in the next section can help you analyze which car insurance providers to look at purchasing coverage from.

These rankings are only comprised of companies who write in the majority of U.S. states, so companies with more of a regional focus are not factored into this list. If you wish to compare rates from these companies and more, follow this link.

Top Ten Auto Insurance Companies for a Honda CR-V in Texas
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
Mercury Insurance 97 96 88 89% A+ 93.4
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
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Data Source: Insure.com Best Car Insurance Companies

The illustration below illustrates how choosing a deductible can raise or lower annual premium costs when getting quotes for cheap insurance for a Honda CR-V. The information is based on a married female driver, full coverage, and no additional discounts are factored in.

As shown above, a 40-year-old driver could lower their policy premium by $272 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $412 by changing to a $1,000 deductible. Even younger insureds, like the 20-year-old, could lower their rates as much as $676 or even more just by choosing higher deductibles when buying full coverage.

When increasing deductibles, it is necessary to have plenty of savings on hand to be able to pay the extra out-of-pocket expense, which deters some people from using high deductibles.

Impact of careless driving on Lubbock auto insurance rates

The recommended way to score the best auto insurance rates in Texas for a CR-V is to drive safe and avoid traffic citations and accidents. The example below highlights how traffic violations and at-fault fender-benders can drive up annual premium costs for different age categories. The rates are based on a married male driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.

The data charted above shows the average cost of car insurance per year with no violations or accidents is $1,708. Get written up for one speeding ticket and the average cost rises to $1,961, an increase of $253 each year. Now add two accidents along with the one speeding ticket and the 12-month cost of auto insurance for a Honda CR-V goes up to an average of $4,147. That’s an increase of $2,439, or $203 per month, just for not driving responsibly!

Full coverage rates vs. liability-only

Saving money when shopping for auto insurance is probably important to the majority of people, and one of the easiest ways to pay lower rates for insurance for a Honda CR-V is to buy only liability coverage. The example below shows the difference between premium costs with and without physical damage coverage. The prices are based on no accidents or driving violations, $500 deductibles, single marital status, and no discounts are factored in.

If averaged out across all ages, physical damage coverage costs an additional $1,793 per year more than insuring for liability only. That is a significant amount which raises the question if you should buy full coverage. There is no set rule to stop buying full coverage, but there is a general guideline you can use. If the annual cost of coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.

For example, let’s say your vehicle’s settlement value is $12,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $11,000 after paying the physical damage deductible. If you are paying in excess of $1,100 a year for your policy with full coverage, then it’s probably a good time to buy liability coverage only.

There are some situations where removing full coverage is not a good idea. If you have an outstanding loan on your vehicle, you have to maintain full coverage in order to keep the loan. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should not buy liability only.