If your goal is the lowest price, then the best way to find cheaper prices for Honda Accord Hybrid insurance in Minneapolis is to compare quotes annually from providers who provide car insurance in Minnesota. You can compare prices by completing these steps.
Step 1: Try to understand policy coverages and the changes you can make to prevent expensive coverage. Many rating criteria that result in higher prices like tickets, at-fault accidents, and poor credit history can be improved by paying attention to minor details.
Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can provide rates from a single company like GEICO and Allstate, while independent agencies can provide prices from multiple sources.
Step 3: Compare the new quotes to your current policy to determine if switching companies saves money. If you find a lower rate and make a switch, make sure there is no lapse in coverage.
An important bit of advice to remember is to make sure you enter the same amount of coverage on every price quote and and to analyze every company you can. This helps ensure the most accurate price comparison and a complete price analysis.
Everyone knows that insurance companies want to keep your business as long as possible. Drivers who compare rates once a year will most likely buy a new policy because there is a good chance of finding a policy with better rates. A recent study showed that people who routinely shopped for cheaper coverage saved on average $3,450 over four years compared to those who don’t make a habit of comparing rates.
If saving the most money on auto insurance in Minneapolis is your intention, then knowing the best way to quote and compare cheaper coverage can make it easier to find better rates.
How to compare Honda Accord Hybrid insurance quotes in Minneapolis, MN
All the larger auto insurance companies like GEICO, State Farm and Progressive make it easy to get price estimates from their websites. The process is pretty painless because it’s just a matter of typing in your coverage preferences as detailed in the form. Upon sending the form, their rating system gets information on your driving record and credit history and quotes a price. Being able to quote online for Honda Accord Hybrid insurance in Minneapolis helps simplify price comparisons, and it’s absolutely necessary to have as many quotes as possible if you want to find the most affordable premium on auto insurance.
In order to find out how much you’re overpaying now, compare quotes from the companies shown below. If you have your current policy handy, we recommend you enter the coverages exactly as they are listed on your policy. This way, you’re receiving comparison quotes based on identical coverages.
The auto insurance companies shown below have been selected to offer quotes in Minneapolis, MN. To find the best auto insurance in Minneapolis, we suggest you visit two to three different companies to find the lowest auto insurance rates.
Honda Accord Hybrid Insurance Rates Can Be More Affordable
When buying car insurance it’s important to understand the rating factors that help calculate car insurance rates. If you know what controls the rates you pay, this empowers consumers to make smart changes that can help you get better car insurance rates. Lots of things are part of the calculation when you get a price on insurance. Some are obvious such as your driving record, but some are not quite as obvious like where you live or your vehicle rating.
The following are some of the major factors used by your company to calculate rates.
Discounts for theft deterrents – Choosing to buy a car that has a built-in theft deterrent system can help lower your rates. Anti-theft features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all aid in stopping your car from being stolen.
Expect high rates for teens – Mature drivers have been proven to be more responsible, tend to cause fewer accidents, and tend to be get fewer driving tickets. Drivers with little experience are known to be less responsible when at the wheel of a vehicle therefore car insurance rates are much higher.
Liability safeguards assets – Your car insurance policy’s liability coverage is the coverage that protects you if a court rules you are at fault for damages from an accident. Your policy’s liability insurance provides legal defense starting from day one. Liability is cheap compared to comp and collision, so insureds should have plenty of protection for their assets.
Don’t let your car insurance lapse – Having a gap between insurance policy dates is a sure-fire way to bump up your car insurance costs. Not only will you pay higher rates, not being able to provide proof of insurance may result in a license revocation or jail time.
Vehicles with better crash test results save money – Vehicles that have high safety ratings tend to be cheaper to insure. The safest vehicles reduce the chance of injuries and lower rates of occupant injuries means lower claim amounts passed on to you as lower rates. If your Honda Accord Hybrid is rated at a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may be receiving a better rate.
More traffic equals higher prices – Being located in a rural area is a good thing when it comes to car insurance. City drivers regularly have traffic congestion and longer commute times. Fewer drivers on the road means a lower chance of having an accident in addition to lower liability claims.
Loss statistics for a Honda Accord Hybrid – Insurance companies analyze claim trends for every vehicle to help determine the rate you pay. Models that historically have higher loss trends will cost more for coverage.
The table below illustrates the historical insurance loss data for Honda Accord Hybrid vehicles. For each coverage category, the statistical loss for all vehicles, as an average, is set at 100. Numbers under 100 suggest a positive loss record, while values that are above 100 indicate higher probability of having a loss or tendency to have higher losses.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Honda Accord Hybrid | 96 | 80 | 98 | 89 | 76 | 84 |
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Three good reasons to insure your vehicle
Even though Minneapolis Accord Hybrid insurance rates can get expensive, insurance serves several important purposes.
- Most states have minimum mandated liability insurance limits which means the state requires specific minimum amounts of liability protection in order to drive the car. In Minnesota these limits are 30/60/10 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a lien on your vehicle, almost every bank will force you to have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the lender may insure your Honda at a significantly higher premium and force you to pay for the much more expensive policy.
- Auto insurance protects not only your Honda Accord Hybrid but also your assets. Insurance will also pay for most medical and hospital costs that are the result of an accident. One policy coverage, liability insurance, also pays for attorney fees and 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 pay to repair the damage.
The benefits of carrying enough insurance more than cancel out the cost, particularly when you have a large claim. As of last year, the average driver in Minnesota overpays as much as $750 every year so we recommend shopping around at every renewal to make sure the price is not too high.