How Much Does Honda Accord Insurance Cost?
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Although insurance can seem like an unnecessary expense, it’s the best way to keep your finances safe on the road. Car insurance protects you in the case of an accident. It offers to pay for any losses in exchange for your payment of a premium. If you’re interested in a Honda Accord, you might wonder about Honda Accord insurance cost.
You’ve come to the best place! Read on to learn more about Honda Accord insurance cost. We’ll talk about the average annual price point, how insurance varies by trim, and what factors impact the cost of insurance. There’s a lot to discuss, so let’s get going!
How Much Does Honda Accord Insurance Cost?
According to caranddriver.com, the average annual Honda Accord insurance cost is $1,310. This price is related to drivers with significant experience, as younger driver rates are higher. Of course, the cost for insurance for a Honda Accord will vary depending on the insurance provider.
Here are costs for the 2020 Honda Accord from varying insurance companies, according to thezebra.com:
- Allied: $704 a year
- USAA: $1,373 a year
- GEICO: $1,414 a year
- Vermont Mutual: $1,258 a year
- Erie: $1,341 a year
- Nationwide: $1,187 a year
If you’re looking for affordable insurance, Allied is one of the cheapest for a Honda Accord.
The company you invest in will have varying restrictions and rules that you need to abide by as a driver. It’s critical to research the company before you decide to give them your money so you can get the best deal.
The trim you select can also impact the price. Let’s talk about the various Honda Accord insurance costs with each upgrade.
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Which Trim is the Cheapest?
There are seven trims you can choose from with the Honda Accord. All of them vary in insurance cost since each has differing features. The more advanced models cost more in coverage.
Here is the Honda Accord insurance cost for the trims based on the 2022 model according to insuraviz.com:
- LX: $1,356 a year
- Sport: $1,406 a year
- Hybrid: $1,456 a year
- EX-L: $1,476 a year
- Touring: $1,548 a year
- Hybrid Touring: $1,610 a year
Once you get complicated with the features offered in each trim, you’ll have to pay more for insurance coverage.
These price points relate specifically to the 2022 model of the Honda Accord. If you’re looking for Honda Accord insurance cost for other years, you’ll deal with alternate price points.
A Look at Honda Accord Insurance Cost By Year
Even if you invest in a used Honda Accord, you need to purchase insurance for the safest driving experience. Depending on the year you invest in, you will face a different Honda Accord insurance cost.
Here are the average Honda Accord insurance cost by year according to insuraviz.com:
- 2021: The average cost is about $1,336.
- 2020: The average cost is about $1,310.
- 2019: The average cost is about $1,282.
- 2018: The average cost is about $1,248.
- 2017: The average cost is about $1,206.
- 2016: The average cost is about $1,174.
- 2015: The average cost is about $1,060.
The older the model, the less you will pay for Honda Accord insurance.
Consider these yearly costs if you’re thinking about purchasing a used vehicle. If you want to cut down on insurance costs, go with an older model of the Honda Accord to save money.
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Cost of Honda Accord Lease Insurance
Honda requires leasers to pay for insurance for the entirety of their vehicle ownership. They have a specific insurance method customers need to follow to get full coverage for their vehicle during their time on the road.
This is how the Honda insurance operates according to lhmhonda.com:
- You must have insurance that covers up to $100,000 for bodily harm, $300,000 for injuries after one accident, and $50,000 for property damage OR
- Combined single limit for up to $300,000 AND
- Physical damage insurance covering no more than $1000 in loss
There is available gap coverage to deal with anything else.
If you’re leasing a car, insurance is a requirement. The Honda Accord should be kept in the best condition possible to avoid extra payments when the time comes to return the vehicle.
What Factors Can Affect Insurance?
Many factors can affect how much car insurance costs with the Honda Accord. It’s critical to understand these before investing in insurance since factors like age can wildly alter how much you pay per year for Honda Accord insurance.
Here are some of the things that can affect your insurance premium, according to allstate.com:
- Gender: Younger men often pay more for car insurance than women since there is more history of male crashes than females.
- Age: If you’re younger, you’ll have to pay much more expensive premiums than someone with more driving experience.
- How much you drive: If you commute every day, you’ll pay more than someone who barely heads out on the road. More time on the highway means more risks to cover.
- Driving record: If you have a history of accidents, you’ll need to pay more for coverage.
If you’re a twenty-year-old male that drives three hours every day, you’ll pay more than a forty-year-old female that barely gets behind the wheel.
There’s lots to research and understand before committing to insurance for your vehicle. If you are looking into a Honda Accord, it’s just as critical to look at the insurance factors as it is to find the best deal on a vehicle.
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Conclusion
There are so many things that can impact the Honda Accord insurance cost. From age to trim, everything matters. The average annual price for Honda Accord insurance is $1,310, but that varies from person to person.
We hope this information comes in handy! It can be confusing to deal with Honda Accord insurance. However, with the correct knowledge, it should be simple.
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