Compare Honda Accord Insurance Quotes in Lubbock

Insurance quote for Honda Accord in LubbockThe best way we recommend to find discount Honda Accord insurance is to annually compare prices from providers who provide car insurance in Lubbock. You can compare rates by following these steps.

Step 1: Try to comprehend what is in your policy and the factors you can control to lower rates. Many risk factors that increase rates like speeding tickets, careless driving and an unacceptable credit score can be rectified by paying attention to minor details. This article provides instructions to get better rates and get additional discounts that may have been overlooked.

Step 2: Compare rates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can provide rates from a single company like Progressive and State Farm, while independent agencies can quote rates for a wide range of companies.

Step 3: Compare the quotes to your existing rates to see if a cheaper price is available in Lubbock. If you can save money, make sure coverage is continuous and does not lapse.

Step 4: Tell your current company of your intent to cancel your current car insurance policy. Submit a down payment and signed policy application to your new insurance company. Immediately keep your new certificate of insurance above your visor, in the console, or in the glove compartment.

One piece of advice is to make sure you’re comparing the same physical damage deductibles and liability limits on each price quote and and to get rate quotes from as many companies as feasibly possible. This provides an apples-to-apples comparison and the best rate selection.

It’s safe to assume that auto insurance companies want to keep your business as long as possible. Drivers who compare rates at least once a year are highly likely to buy a different policy because there is a great chance of finding good coverage at a lower price. A recent study showed that consumers who compared rates regularly saved $865 annually as compared to drivers who never compared prices.

If finding the cheapest rates on auto insurance in Lubbock is the reason you’re here, then learning a little about how to choose a company and compare insurance premiums can help you succeed in saving money.

When shopping for low cost Lubbock car insurance quotes, there are a couple of ways to compare rate quotes from different Lubbock insurance companies. The best way to do a complete rate comparison is simply to get online rate quotes.

Online shopping is fast and free, and it makes it a waste of time to call or drive to local Lubbock insurance agencies. Quoting and buying Honda Accord insurance online can eliminate the need for a local agent unless you want the personal advice of a local agency. It is possible to comparison shop your insurance online and still use a local agent.

Just keep in mind that comparing more rates from different companies helps you find lower pricing. Some regional insurers cannot provide Lubbock Accord insurance quotes online, so it’s important to also get rates from the smaller companies as well.

The providers in the list below can provide price quotes in Texas. If multiple companies are listed, we suggest you visit several of them to find the lowest auto insurance rates.

Honda Accord insurance rates and statistics

The premium information displayed next outlines estimates of coverage costs for Honda Accord models. Having knowledge of how insurance policy rates are formulated is important for making smart choices when choosing a car insurance company.

Honda Accord Insurance Rates in Lubbock, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Accord LX 4-Dr Sedan $292 $408 $424 $26 $128 $1,278 $107
Accord EX 4-Dr Sedan $292 $408 $424 $26 $128 $1,278 $107
Accord LX-P 4-Dr Sedan $292 $408 $424 $26 $128 $1,278 $107
Accord EX-L 4-Dr Sedan $336 $496 $424 $26 $128 $1,410 $118
Accord EX 2-Dr Coupe $336 $584 $564 $34 $168 $1,686 $141
Accord LX-S 2-Dr Coupe $336 $584 $564 $34 $168 $1,686 $141
Accord EX-L 2-Dr Coupe $378 $584 $564 $34 $168 $1,728 $144
Get Your Own Custom Quote Go

Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Price estimates do not factor in specific garaging location which can lower or raise price quotes greatly.

Physical damage deductibles: Should you raise them?

One of the more difficult decisions when buying auto insurance is which deductible level should you buy. The following insurance rates help summarize the costs and benefits when you choose different policy deductibles. The first data table uses a $250 deductible for physical damage and the second price chart uses a $1,000 deductible.

Honda Accord insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Accord LX 4-Dr Sedan $256 $408 $324 $20 $96 $1,129 $94
Accord EX 4-Dr Sedan $256 $408 $324 $20 $96 $1,129 $94
Accord LX-P 4-Dr Sedan $256 $408 $324 $20 $96 $1,129 $94
Accord EX-L 4-Dr Sedan $294 $496 $324 $20 $96 $1,255 $105
Accord EX 2-Dr Coupe $294 $584 $430 $26 $128 $1,487 $124
Accord LX-S 2-Dr Coupe $294 $584 $430 $26 $128 $1,487 $124
Accord EX-L 2-Dr Coupe $332 $584 $430 $26 $128 $1,525 $127
Get Your Own Custom Quote Go

Honda Accord insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Accord LX 4-Dr Sedan $158 $256 $324 $20 $96 $854 $71
Accord EX 4-Dr Sedan $158 $256 $324 $20 $96 $854 $71
Accord LX-P 4-Dr Sedan $158 $256 $324 $20 $96 $854 $71
Accord EX-L 4-Dr Sedan $182 $312 $324 $20 $96 $934 $78
Accord EX 2-Dr Coupe $182 $368 $430 $26 $128 $1,134 $95
Accord LX-S 2-Dr Coupe $182 $368 $430 $26 $128 $1,134 $95
Accord EX-L 2-Dr Coupe $206 $368 $430 $26 $128 $1,158 $97
Get Your Own Custom Quote Go

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Price information does not factor in your specific Lubbock location which can alter premiums significantly.

Based on the data above, we can derive that using a $250 deductible will cost you about $26 more each month or $312 for a full year than selecting the higher $1,000 deductible. Since you would have to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you tend to average at least 29 months between claim filings, you would probably be better off if you decide on a higher deductible. The numbers below show an example of how you can perform this determination yourself.

Average monthly premium for $250 deductibles: $109
Average monthly premium for $1,000 deductibles (subtract): – $83
Monthly savings from raising deductible: $26
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $26
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 29 months

The information below shows how choosing a deductible and can increase or decrease Honda Accord insurance prices for each age group. The rate quotes are based on a married female driver, full coverage, and no discounts are taken into consideration.

Auto insurance rates by age and gender in Lubbock

The diagram below illustrates the comparison of Honda Accord premium costs for male and female drivers. Data assumes no claims or violations, full physical damage coverage, $1,000 deductibles, single marital status, and no discounts are taken into consideration.

Rate difference between full and liability-only coverage

The diagram below shows the comparison of Honda Accord insurance premiums with full physical damage coverage compared to only buying liability only. The data is based on no accidents, no driving violations, $250 deductibles, single marital status, and no other discounts are factored in.

Deciding between full coverage and liability only

There is no specific rule to exclude physical damage coverage, but there is a guideline you can use. If the yearly cost of comp and collision coverage is more than around 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.

For example, let’s say your Honda Accord replacement cost is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, you would only receive $6,000 after paying your deductible. If premiums are more than $600 a year for your policy with full coverage, then you might want to consider buying only liability coverage.

There are a few situations where dropping full coverage is not a good idea. If you still owe a portion of the original loan, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not drop full coverage.

Insurance in Texas serves several purposes

Despite the potentially high cost of Honda Accord insurance, maintaining insurance serves several important purposes.

First, most states have mandatory insurance requirements which means it is punishable by state law to not carry a specific level of liability insurance 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.

Second, if you have a lien on your Accord, most lenders will make it mandatory that you buy full coverage to guarantee loan repayment. If coverage lapses or is canceled, the bank may buy a policy for your Honda at a significantly higher premium and make you pay for it.

Third, insurance protects both your Honda and your personal assets. It will also pay for medical expenses for not only you but also any passengers injured in an accident. Liability insurance, one of your policy coverages, also pays expenses related to your legal defense if you are sued as the result of your driving. If damage is caused by hail or an accident, comprehensive and collision coverage will pay to repair the damage.

The benefits of carrying enough insurance definitely exceed the price paid, particularly when you have a large claim. Today the average American driver is wasting up to $810 a year so compare quotes from several companies at least once a year to make sure the price is not too high.

Honda Accord Insurance Costs Can Be Cheaper

It’s important that you understand some of the elements that go into determining your policy premiums. When you understand what positively or negatively impacts your premiums, this helps enable you to make changes that could result in cheaper rates.

The factors shown below are most of the major factors used by companies to determine your rates.

Traffic violations hurt – How you drive has a lot to do with how much you pay for insurance. Having a single chargeable violation can increase rates to the point where it’s not affordable. Good drivers receive lower rates as compared to those with violations. Drivers with serious violations such as DUI or reckless driving may find they need to prove financial responsibility with their state’s department of motor vehicles in order to drive a vehicle legally.

The chart below highlights how speeding tickets and at-fault fender-benders influence Honda Accord insurance costs for each age group. Data assumes a single male driver, full coverage, $250 deductibles, and no discounts are factored in.

Liability limits on your policy – The liability coverage on your policy will provide protection if ever you are ruled to be at fault for an accident. Your liability coverage provides legal defense which can cost thousands of dollars. It is affordable coverage compared to other policy coverages, so buy as much as you can afford.

Safer the car lower the rate – Vehicles that have high safety ratings tend to have better insurance rates. The safest vehicles have better occupant injury protection and fewer injuries translates into fewer and smaller insurance claims and more competitive rates for policyholders. If your Honda Accord scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website you may be receiving a better rate.

Optional features that cut rates – Selecting a car model with advanced anti-theft systems can help lower your rates. Theft prevention features like vehicle immobilizer systems, OnStar, and tracking devices like LoJack can thwart auto theft and help lower rates.

Only buy extra coverages you need – There are a ton of additional extra coverages that can add up if you don’t pay attention. Coverages like coverage for rental cars, accidental death, and extra equipment coverage may be wasting your money. The coverages may be enticing when discussing your needs, but if you’ve never needed them in the past eliminate the coverages to reduce your premium.

The type of car you drive affects your rates – The performance level of the car or truck you own makes a significant difference in how high your rates are. Lower performance four cylinder passenger vehicles usually have the lowest rates, but that’s not the only thing that factors into the final price.

The data below uses these variables: single female driver age 40, full coverage with $500 deductibles, and no discounts or violations. It compares Honda Accord insurance premiums compared to other vehicles that have a range of performances.

Rates can be impacted by your employer – Careers such as judges, business owners, and medical professionals tend to pay the highest average rates in part from high stress levels and lots of time spent away from family. Other occupations such as professors, historians and homemakers pay lower than average rates.

Honda Accord statistical loss data – Companies analyze historical claim data as a way to help calculate a profitable premium rate. Models that are shown to have a higher amount or frequency of claims will cost more for specific coverages. The table shown below demonstrates the insurance loss data used by companies for Honda Accord vehicles.

For each coverage type, the claim amount for all vehicles averaged together is set at 100. Values under 100 imply a favorable loss record, while values over 100 indicate frequent claims or tendency to have higher losses.

Car Insurance Loss Data for Honda Accord Models
Specific Honda Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Honda Accord 91 85 90 122 117 94
Honda Accord Hybrid 96 80 98 89 76 84
Honda Accord Crosstour 4dr 2WD 85 97 83 122 113 94
Honda Accord Crosstour 4dr 4WD 99 102 94 120 93

Empty fields indicate not enough data collected
Data Source: (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Shop smart and save

Throughout this article, we presented many ways to compare Honda Accord insurance car insurance rates in Lubbock. The key concept to understand is the more price quotes you have, the better your chances of lowering your premium rates. You may even discover the lowest car insurance rates are with some of the lesser-known companies. These companies may have significantly lower premium rates on certain market segments than the large multi-state companies such as Progressive or GEICO.

When buying insurance coverage, don’t be tempted to reduce needed coverages to save money. There have been many cases where someone sacrificed collision coverage only to regret that a couple dollars of savings turned into a financial nightmare. Your strategy should be to purchase plenty of coverage at the lowest possible cost, but don’t skip important coverages to save money.

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