Cheapest Insurance for a Honda Accord in Minneapolis

Insurance rates Honda Accord in MinneapolisAre you looking for more affordable Honda Accord insurance in Minneapolis? Searching for better insurance prices for your Honda Accord in Minnesota can normally be difficult, but you can learn the following methods and make it easy.

There are both good and bad ways to shop for car insurance so we’re going to tell you the best way to get price quotes on a Honda and find the best price possible either online or from Minneapolis insurance agents.

Ways to get Honda Accord insurance price quotes in Minneapolis, MN

The majority of larger companies allow you to get pricing on the web. Getting quotes for Honda Accord insurance in Minneapolis is quite easy as you just type in your coverage preferences on the page. Upon sending the form, their system collects your credit score and driving record and generates a price based on the data you entered.

This streamlines rate comparisons, and it’s absolutely necessary to get many rate quotes in order to get affordable car insurance pricing.

In order to find out how much you’re overpaying now, check out the car insurance providers below. To compare your current rates, we recommend you copy the coverages exactly as they are listed on your policy. Doing this guarantees you will have a price comparison based on the exact same insurance coverage.

The companies in the list below are ready to provide free rate quotes in Minneapolis, MN. To buy the best cheap car insurance in Minneapolis, we recommend you compare several of them in order to get a fair rate comparison.

Lower rates by qualifying for discounts

Car insurance is not an enjoyable expense, but there could be significant discounts to reduce the price significantly. Certain reductions will be credited at quote time, but some must be manually applied prior to getting the savings.Car insurance discounts

A little note about advertised discounts, most discount credits are not given to the overall cost of the policy. Some only apply to specific coverage prices like physical damage coverage or medical payments. So despite the fact that it appears having all the discounts means you get insurance for free, it’s just not the way it works.

The example below shows the difference between Honda Accord insurance costs with and without discounts being applied to the rates. Data assumes a female driver, a clean driving record, no claims, Minnesota state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, multi-policy, marriage, safe-driver, and homeowner discounts applied.

To see a list of companies with discount rates in Minnesota, click this link.

Honda Accord insurance analysis

The information displayed next showcases a range of rate quotes for Honda Accord models. Having insight into how policy premiums are established can help drivers make smart choices when comparing insurance rates.

Honda Accord Insurance Rates in Minneapolis, MN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Accord LX 4-Dr Sedan $166 $310 $350 $20 $104 $950 $79
Accord LX 4-Dr Sedan $166 $310 $350 $20 $104 $950 $79
Accord EX 4-Dr Sedan $166 $310 $350 $20 $104 $950 $79
Accord LX-P 4-Dr Sedan $166 $310 $350 $20 $104 $950 $79
Accord LX-P 4-Dr Sedan $166 $310 $350 $20 $104 $950 $79
Accord EX-L 4-Dr Sedan $192 $376 $350 $20 $104 $1,042 $87
Accord EX 2-Dr Coupe $192 $444 $466 $28 $140 $1,270 $106
Accord LX-S 2-Dr Coupe $192 $444 $466 $28 $140 $1,270 $106
Accord EX-L 2-Dr Coupe $216 $444 $466 $28 $140 $1,294 $108
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Prices above based on single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Rates do not factor in garaging location in Minneapolis which can decrease or increase price quotes greatly.

Raise deductibles and save

One of the most common insurance questions is which comprehensive and collision deductibles to buy. The figures shown below approximate the costs and benefits when you select higher and lower policy deductibles. The first set of prices uses a $250 deductible and the second set of rates uses a $500 deductible.

Honda Accord insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Accord LX 4-Dr Sedan $214 $340 $270 $16 $80 $945 $79
Accord LX 4-Dr Sedan $214 $340 $270 $16 $80 $945 $79
Accord EX 4-Dr Sedan $214 $340 $270 $16 $80 $945 $79
Accord LX-P 4-Dr Sedan $214 $340 $270 $16 $80 $945 $79
Accord LX-P 4-Dr Sedan $214 $340 $270 $16 $80 $945 $79
Accord EX-L 4-Dr Sedan $246 $414 $270 $16 $80 $1,051 $88
Accord EX 2-Dr Coupe $246 $486 $358 $22 $108 $1,245 $104
Accord LX-S 2-Dr Coupe $246 $486 $358 $22 $108 $1,245 $104
Accord EX-L 2-Dr Coupe $276 $486 $358 $22 $108 $1,275 $106
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Honda Accord insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Accord LX 4-Dr Sedan $174 $274 $270 $16 $80 $814 $68
Accord LX 4-Dr Sedan $174 $274 $270 $16 $80 $814 $68
Accord EX 4-Dr Sedan $174 $274 $270 $16 $80 $814 $68
Accord LX-P 4-Dr Sedan $174 $274 $270 $16 $80 $814 $68
Accord LX-P 4-Dr Sedan $174 $274 $270 $16 $80 $814 $68
Accord EX-L 4-Dr Sedan $200 $334 $270 $16 $80 $900 $75
Accord EX 2-Dr Coupe $200 $392 $358 $22 $108 $1,080 $90
Accord LX-S 2-Dr Coupe $200 $392 $358 $22 $108 $1,080 $90
Accord EX-L 2-Dr Coupe $224 $392 $358 $22 $108 $1,104 $92
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Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Information does not factor in the specific area where the vehicle is garaged which can revise insurance rates substantially.

We can derive from the above data that using a $250 deductible costs an average of $13 more each month or $156 annually than selecting the higher $500 deductible. Since you would pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you normally average more than 19 months between claim filings, you would save more money if you opt for a higher deductible. Below is a better example of how you can do this calculation yourself.

Average monthly premium for $250 deductibles: $89
Average monthly premium for $500 deductibles (subtract): – $76
Monthly savings from raising deductible: $13
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $13
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 19 months

One important caveat is that higher deductibles means you will have to pay more out-of-pocket when you have a claim. You should have some funds available in the event you have to pay more for the deductible.

The chart below illustrates how your deductible choice and can raise or lower Honda Accord insurance rates for different categories of driver ages. The costs are based on a married female driver, comp and collision included, and no other discounts are factored in.

Driving violations and accidents

The chart below illustrates how violations and at-fault collisions can increase Honda Accord car insurance costs for different age groups of insureds. The data assumes a single female driver, comprehensive and collision coverage, $100 deductibles, and no additional discounts are factored in.

Men versus women drivers and insurance cost

The illustration below illustrates the comparison of Honda Accord insurance premiums for male and female drivers. Data assumes a clean driving record, no at-fault accidents, full physical damage coverage, $500 deductibles, single status, and no other discounts are factored in.

Components of Your Honda Accord Insurance Prices

One of the most helpful ways to save on car insurance is to to have a grasp of the different types of things that aid in calculating your premiums. If you have some idea of what influences your rates, this allows you to make educated decisions that may result in big savings. Lots of factors are used when quoting car insurance. A few of the factors are predictable such as traffic violations, although some other factors are more transparent such as your credit history and annual miles driven.

Lower rates come with age – Youthful drivers in Minnesota are proven to be less responsible when behind the wheel and because of this, their car insurance rates are much higher. Parents adding a first-time driver to your policy can be very expensive. More mature drivers are viewed as being more responsible, statistically cause fewer accidents, and are generally more financially stable.

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

Limits of liability protection – The liability coverage on your policy will afford coverage if you are determined to be liable for damages caused by your negligence. Your policy’s liability insurance provides you with a defense in court which can cost thousands of dollars. Liability is cheap compared to physical damage coverage, so do not skimp.

Type of car determines base premiums – The performance level of the car you are trying to find cheaper insurance for makes a big difference in your premium level. The cheapest rates will normally be found when insuring small economy passenger vehicles, but the cost you end up paying is determined by many additional factors.

The next chart uses these assumptions: single male driver age 50, full coverage with $250 deductibles, and no discounts or violations. It illustrates Honda Accord insurance rates compared to other models that have a range of performances.

How credit history affects car insurance prices – An insured’s credit rating is a big factor in determining your rates. Therefore, if your credit leaves room for improvement, you could pay less to insure your Honda Accord by taking the time to improve your credit score. People with high credit scores tend to be less risk to insure than those with lower ratings.

Your occupation and car insurance rates – Did you know that where you work can have an impact on rates? Jobs such as fire fighters, architects, and medical professionals generally have the highest rates because of intense work-related stress and lots of time spent at work. On the other hand, occupations such as scientists, athletes and performers pay lower than average rates.

Put fewer miles on your vehicle – The more miles you rack up on your Honda in a year’s time the more it will cost to insure it. Many insurance companies apply a rate based on their usage. Cars and trucks used primarily for pleasure use qualify for better rates than cars that get driven a lot. Having the wrong rating on your Accord may be costing you higher rates. Double check that your car insurance policy properly reflects the proper vehicle usage, because it can save money.

Married drivers pay lower costs – Having a spouse may cut your premiums compared to being single. Having a significant other demonstrates that you tend to be more responsible and statistics prove married drivers tend to file fewer claims.

Never allow your car insurance to lapse – Having a lapse in insurance coverage will be a guaranteed way to increase your rates. And not only will your rates increase, the inability to provide proof of insurance might get you a fine, jail time, or a revoked license.

Insurance loss data for a Honda Accord – Insurers use data from past claims when they calculate premium costs for each model. Vehicles that the statistics show to have higher number or severity of losses will cost more for specific coverages.

The table below demonstrates the actual insurance loss data for Honda Accord vehicles. For each type of coverage, the claim probability for all vehicles compiled together is represented as 100. Numbers shown that are under 100 suggest a better than average loss history, while numbers that are greater than 100 point to more losses or tendency to have larger claims.

Auto Insurance Loss Data for Honda Accord Models
Vehicle 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

Neighborhood insurance agents

A lot of people still like to sit down and talk to an agent and often times that is recommended Experienced insurance agents can make sure you are properly covered and help you file claims. One of the great benefits of getting online price quotes is you may find lower rates and still have an agent to talk to. And supporting neighborhood agents is important especially in Minneapolis.

Insurance agency in MinneapolisAfter completing this form (opens in new window), your information is emailed to participating agents in Minneapolis that provide free Minneapolis car insurance quotes for your business. There is no need to search for an agent because quoted prices will be sent instantly to you. If you need to compare prices from one company in particular, just navigate to their website and give them your coverage information.

Types of auto insurance agents in Minneapolis

If you’re trying to find a reputable insurance agent or broker, it’s important to understand the types of agencies and how they can quote your rates. Agents are categorized either independent or exclusive depending on the company they work for. Either type can write policy coverage, but we need to point out the subtle differences because it can impact your selection of an agent.

Independent Agencies or Brokers

Agents of this type are not locked into one company so they can insure your vehicles with lots of companies depending on which coverage is best. If you are not satisfied with one company, your agent can switch companies which is easy for the insured. When shopping rates, you definitely need to check rates from independent agents for the best price selection. Most can insure with less well-known companies that may have much lower rates than larger companies.

Shown below is a partial list of independent insurance agents in Minneapolis that may be able to provide free price quotes.

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Exclusive Insurance Agencies

Agents in the exclusive channel normally can only provide a single company’s rates like State Farm, Allstate, and Farm Bureau. They usually cannot provide other company’s prices so they have no alternatives for high prices. These agents are usually well trained on their products and sales techniques and that allows them to sell at a higher price point. Some insured continue to buy from exclusive agents partially due to the brand instead of buying on price only.

The following is a short list of exclusive agents in Minneapolis willing to provide price quote information.

More insurance agents

Choosing the best auto insurance agent requires more thought than just a cheap quote. These are some valid questions you should ask.

If you feel you receive good responses for all questions you ask as well as a price you’re happy with, it’s possible that you found a car insurance agent that is reputable and can properly insure your vehicles. It’s important to know that it’s your policy and you can cancel your coverage when you choose so don’t assume that you are permanently stuck with a policy for any length of time.

When do I need an agent’s advice?

When it comes to choosing your policy, there is no cookie cutter policy. Every insured’s situation is different.Drive safe and save

These are some specific questions can help discover whether your personal situation would benefit from an agent’s advice.

If you don’t know the answers to these questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form. It only takes a few minutes and may give you better protection.

Be persistent and save

The cheapest Honda Accord insurance in Minneapolis is possible both online in addition to local insurance agencies, and you should compare price quotes from both to have the best chance of lowering rates. Some insurance companies may not provide the ability to get a quote online and usually these smaller providers work with independent insurance agencies.

As you shop your coverage around, do not buy lower coverage limits just to save a few bucks. Too many times, someone sacrificed physical damage coverage only to find out that the few dollars in savings costed them thousands. Your goal should be to purchase plenty of coverage at a price you can afford, but do not skimp to save money.

People change insurance companies for any number of reasons including an unsatisfactory settlement offer, being labeled a high risk driver, policy cancellation or denial of a claim. Whatever your reason, finding a great new company is pretty simple and you could end up saving a buck or two.

Steps to saving money on Honda Accord insurance in Minneapolis

If saving the most money is your goal, then the best way to get cheaper Honda Accord insurance is to regularly compare price quotes from providers that sell auto insurance in Minneapolis. This can be done by following these guidelines.

One thing to point out is to use identical limits and deductibles on every quote request and and to get prices from as many companies as possible. This helps ensure the most accurate price comparison and a complete rate analysis.

More detailed auto insurance information can be found at these sites: