Car Insurance Rates for a Honda Fit in Lubbock

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Discount Honda Fit insuranceThe preferred way to get low-cost car insurance rates in Lubbock is to regularly compare price quotes from providers who can sell car insurance in Texas.

  1. Try to learn a little about how companies price auto insurance and the things you can change to prevent expensive coverage. Many rating criteria that result in higher rates like distracted driving and a low credit rating can be remedied by making small lifestyle or driving habit changes.
  2. Compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from a single company like GEICO or State Farm, while independent agencies can give you price quotes from multiple sources.
  3. Compare the new rate quotes to your existing coverage to see if you can save by switching companies. If you can save money and switch companies, make sure the effective date of the new policy is the same as the expiration date of the old one.

The most important part of shopping around is to use identical deductibles and limits on every quote request and and to look at as many different companies as possible. This provides a fair rate comparison and a complete selection of prices.

Amazingly, over 70% of consumers have bought auto insurance from the same company for a minimum of four years, and nearly half have never compared auto insurance rates at all. Consumers in Texas could save almost $1,800 a year just by shopping around, but they don't understand how simple it is to do a rate comparison.

Getting low cost auto insurance pricing is not rocket science. You just need to invest a few minutes comparing rate quotes online from several insurance companies.

Getting free rate quotes online is quite simple, and it replaces the need to go to all the different Lubbock insurance agencies. Buying insurance online makes this process obsolete unless you prefer the extra assistance only provided by licensed Lubbock agents. However, consumers can price shop your coverage online but purchase the actual policy in an agency.

The companies in the list below are ready to provide quotes in Texas. To buy the best car insurance in Lubbock, TX, we suggest you get price quotes from several of them in order to get a fair rate comparison.

Honda Fit insurance charts and tables

The data table shown below outlines different insurance prices for Honda Fit models. Being more informed about how policy premiums are determined can help guide drivers when making smart choices when buying a car insurance policy.

Honda Fit Insurance Rates in Lubbock, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Fit $152 $352 $326 $20 $98 $948 $79
Fit Sport $174 $352 $326 $20 $98 $970 $81
Fit Sport VSA $174 $416 $326 $20 $98 $1,034 $86
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Table data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Price information does not factor in specific location which can affect coverage rates greatly.

Higher deductibles save money

One frequently asked question is how high or low should comp and collision deductibles be. The rates below sum up the rate differences when you choose different physical damage coverage deductibles. The first data set uses a $250 deductible for comp and collision and the second price grid uses a $500 deductible.

Honda Fit insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Fit $256 $496 $252 $14 $76 $1,119 $93
Fit Sport $294 $496 $252 $14 $76 $1,157 $96
Fit Sport VSA $294 $584 $252 $14 $76 $1,245 $104
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Honda Fit insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Fit $208 $400 $252 $14 $76 $950 $79
Fit Sport $240 $400 $252 $14 $76 $982 $82
Fit Sport VSA $240 $472 $252 $14 $76 $1,054 $88
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Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Prices do not factor in zip code location which can lower or raise insurance rates substantially.

Based on this data, we can arrive at the conclusion that using a $250 deductible costs roughly $15 more each month or $180 a year averaged for all Fit models than requesting the higher $500 deductible. Since you would have to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you normally average more than 17 months between claim filings, you would save money if you opt for a higher deductible.

The information below highlights how deductible selection and can increase or decrease Honda Fit premium costs for different insured age categories. The rates are based on a married male driver, comprehensive and collision coverage, and no additional discounts are factored in.

Should you buy full coverage?

The diagram below visualizes the comparison of Honda Fit annual premium costs with full coverage compared to only the Texas minimum liability coverage. The data assumes no driving violations, no at-fault accidents, $500 deductibles, marital status is single, and no discounts are factored in.

Should you buy full coverage or liability only?

There is no definitive guideline for dropping physical damage coverage, but there is a guideline you can use. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost minus the deductible, then you might consider buying liability only.

For example, let's say your Honda Fit replacement cost is $4,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $3,000 after the deductible is paid. If you are paying more than $300 annually to have full coverage, then you might want to consider buying only liability coverage.

There are some situations where only buying liability is not advised. If you still have a lienholder on your title, you must maintain physical damage coverage as part of the loan requirements. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not remove full coverage.

It may be expensive, but it's not optional

Despite the potentially high cost of Honda Fit insurance, insurance serves a purpose in several ways.

  • Just about all states have minimum liability requirements which means the state requires a specific minimum amount of liability insurance coverage if you don't want to risk a ticket. 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 took out a loan on your Fit, most banks will stipulate that you carry insurance to guarantee their interest in the vehicle. If the policy lapses, the bank may buy a policy for your Honda at a significantly higher premium and require you to fork over the higher premium.
  • Auto insurance preserves both your car and your assets. It will also reimburse you for medical expenses for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, also covers legal expenses if you are named as a defendant in an auto accident. If your Honda gets damaged, comprehensive (other-than-collision) and collision coverage will cover the repair costs.

The benefits of buying auto insurance more than cancel out the cost, especially when you need to use it. In a recent study of 1,000 drivers, the average customer is wasting up to $855 a year so we recommend shopping around once a year at a minimum to ensure rates are competitive.

How Car Insurance Companies Determine Honda Fit Insurance Costs

One of the most helpful ways to save on car insurance is to to have a grasp of some of the elements that help determine the price you pay for car insurance. If you have some idea of what impacts premium levels, this empowers consumers to make smart changes that could help you find big savings. Lots of factors are used in the calculation when you quote your car insurance policy. Some are pretty understandable like an MVR report, but other criteria are not quite as obvious like where you live or your vehicle rating.

The following are just a few of the factors utilized by car insurance companies to help set your rates.

  • Safety first - Vehicles that have high safety ratings tend to have lower insurance rates. Highly rated vehicles reduce the chance of injuries and fewer injuries translates into savings for insurance companies and cheaper rates on your policy.
  • Experienced drivers save more - Young drivers in Texas are known to be more careless when behind the wheel therefore car insurance rates are much higher. Older drivers have been proven to be more responsible, cost insurance companies less in claims, and get fewer tickets.

    The next chart is based on a single driver, full coverage with $250 deductibles, and no discounts or violations.

  • Driving citations increase rates - Drivers who don't get tickets have lower premiums than people who have multiple driving citations. Having a single citation can bump up the cost substantially. Drivers unfortunate enough to have license-revoking citations like reckless driving, hit and run or driving under the influence may need to prove financial responsibility with their state's licensing department in order to drive a vehicle legally.

    The chart below highlights how speeding tickets and at-fault accidents impact Honda Fit premium costs for different age categories. The prices are based on a married male driver, full physical damage coverage, $100 deductibles, and no other discounts are factored in.

  • File policy claims and pay more - If you file claims often, don't be surprised to see increased rates or even have your policy non-renewed. Insurance companies in Texas award cheaper rates to drivers that do not abuse their auto insurance. Your insurance policy is intended to be relied upon for the bigger claims that can't be paid out-of-pocket.
  • Men pay more for insurance coverage - Over time, data shows that women are safer drivers than men. However, don't assume that men are worse drivers. Both sexes are responsible for fender benders at a similar rate, but men have costlier accidents. Not only are claims higher, but men have more aggressive citations such as driving while intoxicated (DWI) or driving recklessly. Male teenagers generally have the highest accident percentage and are penalized with high car insurance rates.

    The illustration below shows the comparison of Honda Fit premium costs for male and female drivers. The costs are based on no driving violations, no at-fault accidents, comprehensive and collision coverage, $100 deductibles, drivers are not married, and no discounts are applied.

  • Do you really need the extra policy coverages? - There are many extra add-on coverages that can waste your money when buying car insurance. Add-on coverages like vanishing deductibles, better glass coverage, and extra equipment coverage are some examples. These coverages may sound good at first, but now you might not need them so think about removing them and cutting costs.
  • Insurance losses for a Honda Fit - Companies factor in insurance loss information to calculate a price that will offset losses. Models that the data shows to have higher loss trends will cost more for coverage. The next table shows the loss history for Honda Fit vehicles.

    For each policy coverage type, the loss probability for all vehicles, as a total average, is equal to 100. Values that are below 100 represent a good loss history, while values that are above 100 point to more frequent losses or larger claims.

    Car Insurance Loss Data for Honda Fit Models
    Specific Honda Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Honda Fit 89 78 90 99 97 92

    Data Source: (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Car insurance policy discounts you can't miss

Buying car insurance is not cheap, but there's a good chance there are discounts to help offset the cost. Many discounts should be triggered when you purchase, but once in a while a discount must be asked for before you will receive the discount. If they aren't giving you every credit you deserve, you are just wasting money.Discount car insurance

  • Telematics Data - Insureds that choose to allow driving data collection to study driving patterns by using a small device installed in their vehicle such as Progressive's Snapshot might see lower rates if they are good drivers.
  • Discount for Multiple Policies - If you insure your home and vehicles with one insurance company you could get a discount of nearly 15% which can help you find affordable Honda Fit insurance rates in Lubbock.
  • Good Grades Discount - Performing well in school can get you a discount of up to 25%. Most companies allow this discount well after school through age 25.
  • Save with More Vehicles Insured - Having multiple cars or trucks with the same company can get a discount on all vehicles.
  • Discount for Life Insurance - Not all car insurance companies offer life insurance, but some may give you a break if you buy life insurance.
  • Discount for Home Ownership - Owning a house in Lubbock can save you money because it requires personal responsibility.
  • New Car Discount - Adding a new car to your policy can cost up to 25% less because newer models have to meet stringent safety requirements.
  • Anti-lock Brake Discount - Cars, trucks, and SUVs that have anti-lock braking systems have fewer accidents and earn discounts up to 10%.
  • Early Payment Discounts - If you pay your entire premium ahead of time as opposed to paying monthly you could save up to 5%.

We need to note that most discounts do not apply to the whole policy. Most only cut individual premiums such as comp or med pay. Despite the appearance that all those discounts means the company will pay you, insurance companies wouldn't stay in business.

The diagram below visualizes the comparison of Honda Fit insurance prices with and without discounts applied to the policy rates. The rate quotes are based on a female driver, a clean driving record, no at-fault accidents, Texas state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, multi-policy, multi-car, homeowner, and claim-free discounts applied.

Larger car insurance companies and some of their more popular discounts are shown below.

  • The Hartford policyholders can earn discounts including defensive driver, driver training, anti-theft, bundle, air bag, vehicle fuel type, and good student.
  • American Family includes discounts for bundled insurance, accident-free, Steer into Savings, good driver, defensive driver, TimeAway discount, and early bird.
  • Progressive offers discounts for homeowner, online quote discount, good student, continuous coverage, and multi-policy.
  • Travelers may have discounts that include payment discounts, early quote, student away at school, continuous insurance, good student, multi-policy, and new car.
  • Farmers Insurance may include discounts for mature driver, homeowner, multi-car, electronic funds transfer, bundle discounts, switch companies, and teen driver.
  • USAA offers premium reductions for new vehicle, family discount, driver training, defensive driver, safe driver, and annual mileage.
  • Liberty Mutual may offer discounts for good student, new graduate, new vehicle discount, multi-car, newly retired, and exclusive group savings.

When comparing rates, check with every insurance company which discounts they offer. Some discounts listed above might not be offered in Lubbock.

When should I discuss my situation with an agent?

When selecting coverage, there really is not a "best" method to buy coverage. Everyone's situation is a little different.Auto insurance savings

For instance, these questions can help discover whether you would benefit from an agent's advice.

  • What does UM/UIM cover?
  • Which companies will insure high-risk drivers?
  • Does my Honda Fit need full coverage?
  • Is motorclub coverage worth it?
  • Can I afford to buy a different vehicle if my Honda Fit is totaled?
  • Is a driver training discount available?
  • What does medical payments cover?

If it's difficult to answer those questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. If you don't have a local agent, take a second and complete this form. It only takes a few minutes and you can get the answers you need.

Can't I compare prices from local Lubbock car insurance agents?

Certain consumers would rather get professional advice from a licensed agent and that can be a smart move Insurance agents can make sure you are properly covered and will help you if you have claims. The biggest benefit of comparing rates online is that drivers can save money and get the best rates and still buy from a local agent.

Lubbock insurance agentsAfter completing this short form, your insurance data is submitted to agents in your area that can give you free Lubbock auto insurance quotes for your business. You don't have to find an agent on your own since price quotes are sent straight to your inbox. If you wish to compare prices from a specific auto insurance provider, you can always jump over to their website and fill out their quote form.

Deciding on an company should include more criteria than just a cheap price. Any agent in Lubbock should be forthright in answering these questions:

  • Are aftermarket or OEM parts used to repair vehicles?
  • Do the coverages you're quoting properly cover your vehicle?
  • Is every driver in your family covered?
  • Can you contact them at any time?
  • Can you use your own choice of collision repair facility?

Do you need an independent or exclusive auto insurance agent?

When looking for a good insurance agency, you should know the different types of agencies to choose from. Auto insurance policy providers are classified as either independent agents or exclusive agents depending on their employer. Either one can provide auto insurance policies, but it's a good idea to understand the differences since it can impact which type of agent you select.

Exclusive Insurance Agents

Agents that choose to be exclusive can only provide one company's prices and examples are Farmers Insurance, State Farm, Allstate, and AAA. They usually cannot compare rates from other companies so they have no alternatives for high prices. Exclusive agents receive a lot of sales training on the products they sell which helps them compete with independent agents.

Below is a short list of exclusive agencies in Lubbock willing to provide comparison quotes.

1314 50th St - Lubbock, TX 79412 - (806) 741-1515 - View Map

9810 Indiana Ave Ste 120 - Lubbock, TX 79423 - (806) 795-4344 - View Map

6301 19th St #4 - Lubbock, TX 79407 - (806) 792-4432 - View Map

More Lubbock agents

Independent Auto Insurance Agencies

These agents are not employed by one company so they can write business with any number of different companies and find you the best rates. If premiums increase, they simply move your policy to a different company and you stay with the same agent. When comparing auto insurance rates, you absolutely need to contact at least one independent agent to get the best comparison.

Shown below is a list of independent agents in Lubbock willing to provide price quotes.

5241 98th St - Lubbock, TX 79424 - (806) 792-5564 - View Map

6520 University Ave - Lubbock, TX 79412 - (806) 797-4131 - View Map

7005 Salem Park Dr - Lubbock, TX 79424 - (806) 797-4131 - View Map

More Lubbock agents

If you receive positive responses for all questions you ask and the cheapest Honda Fit insurance in Lubbock quotes, most likely you have located an auto insurance agent that can provide auto insurance coverage.

Best car insurance company in Lubbock

Finding the highest-rated insurance provider can be rather challenging considering how many choices you have in Lubbock. The company ratings displayed below can help you analyze which car insurance providers you want to consider purchasing from.

Top 10 Lubbock Car Insurance Companies by A.M. Best Rank

  1. Travelers - A++
  2. USAA - A++
  3. GEICO - A++
  4. State Farm - A++
  5. Titan Insurance - A+
  6. Esurance - A+
  7. Progressive - A+
  8. The Hartford - A+
  9. Allstate - A+
  10. Nationwide - A+

Top 10 Lubbock Car Insurance Companies Ranked by Customer Satisfaction

  1. USAA - 91%
  2. AAA Insurance - 90%
  3. Esurance - 90%
  4. Mercury Insurance - 89%
  5. Nationwide - 89%
  6. Travelers - 88%
  7. Progressive - 88%
  8. Safeco Insurance - 88%
  9. State Farm - 88%
  10. Allstate - 88%

More comparisons equals cheap rates

Consumers leave their current company for many reasons like policy cancellation, questionable increases in premium, high rates after DUI convictions or even being labeled a high risk driver. It doesn't matter what your reason, finding a new car insurance company can be easy and end up saving you some money.

As you go through the steps to switch your coverage, you should never skimp on critical coverages to save a buck or two. There are many occasions where drivers have reduced full coverage only to regret they didn't purchase enough coverage. Your goal should be to purchase plenty of coverage at the best possible price while not skimping on critical coverages.

We covered many ways to compare Honda Fit insurance premium rates in Lubbock. The key concept to understand is the more you quote Lubbock auto insurance, the better likelihood of getting inexpensive Lubbock auto insurance quotes. You may even be surprised to find that the lowest priced car insurance comes from an unexpected company.

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