Did you fall for a flashy sales pitch and buy high-priced Honda Insight insurance in El Paso? Don’t sweat it because there are many El Paso drivers thinking the same thing.
Anyone knows that car insurance companies don’t want their customers to go rate shopping. Drivers who shop around for cheaper price quotes will presumably switch to a new company because they stand a good chance of finding a lower rate. A survey found that drivers who compared rates annually saved over $850 each year compared to those who never shopped around for better prices.
If finding the best rates on Honda Insight insurance is the reason for your visit, then learning a little about the best ways to shop for insurance coverage can make it easier for you to save money.
Steps to saving money on Honda Insight insurance in El Paso
The best way we recommend to find more affordable Honda Insight insurance in El Paso is to compare prices at least once a year from providers who provide car insurance in Texas. Price quotes can be compared by following these guidelines.
- First, try to learn about how companies price auto insurance and the measures you can control to keep rates down. Many factors that cause high rates like distracted driving and an unacceptable credit history can be remedied by making lifestyle changes or driving safer.
- Second, compare prices from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from one company like GEICO and Allstate, while independent agencies can provide prices from multiple sources. Get quotes now
- Third, compare the new quotes to the premium of your current policy to determine if you can save on Insight insurance in El Paso. If you find a lower rate and make a switch, make sure there is no lapse between the expiration of your current policy and the new one.
- Fourth, provide written notification to your current company to cancel your current policy. Submit payment and a completed application to your new carrier. Immediately store the certificate of insurance in a readily accessible location in your vehicle.
The most important part of this process is to make sure you enter identical coverages on every quote and and to compare as many different insurance providers as possible. Doing this ensures a fair price comparison and a good representation of prices.
There are many insurers to buy insurance from, and though it is a good thing to have a selection, having more insurance companies makes it harder to compare rates and cut insurance costs.
Consumers need to get comparison quotes periodically because insurance prices are adjusted regularly by insurance companies. Just because you had the best quotes on Honda Insight insurance in El Paso six months ago you can probably find a lower rate today. Ignore everything you know about insurance because you’re about to learn the easiest way to save money, get proper deductibles and limits, all at the lowest rate.
Compare El Paso Honda Insight insurance price quotes
All major insurance companies such as State Farm, GEICO and Progressive allow consumers to get prices on the web. Getting quotes for Honda Insight insurance in El Paso is fairly straightforward as you simply type in your personal and coverage information into a form. When the form is submitted, the company’s rating system automatically retrieves credit information and your driving record and quotes a price based on these factors. Using the web to get quotes for Honda Insight insurance in El Paso helps simplify price comparisons, and it’s absolutely necessary to compare as many rates as possible in order to get cheap rates.
If you want to find out how much you can save on insurance, compare quotes from the companies shown below. If you have coverage now, it’s recommended you complete the form with your coverages exactly as they are listed on your policy. This makes sure you will be getting rate quotes for similar coverage.
The companies in the list below are ready to provide free rate quotes in El Paso, TX. If multiple providers are shown, it’s highly recommended you visit as many as you can to get a more complete price comparison.
Facts and figures for Honda Insight insurance
The premium information shown below highlights detailed analysis of insurance premium costs for Honda Insight models. Being aware of how car insurance premiums are determined can help you make informed coverage decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Insight LX | $238 | $400 | $500 | $30 | $150 | $1,318 | $110 |
| Insight EX | $272 | $472 | $500 | $30 | $150 | $1,424 | $119 |
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Table data represents single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Rate quotes do not factor in zip code location which can increase or decrease coverage prices noticeably.
Comparison of policy deductibles
When buying auto insurance, a common question is what deductibles to buy. The comparison tables below may help to conceptualize the price difference when you buy lower versus higher physical damage deductibles. The first rate comparisons uses a $250 deductible and the second rate chart uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Insight LX | $256 | $496 | $382 | $22 | $114 | $1,295 | $108 |
| Insight EX | $294 | $584 | $382 | $22 | $114 | $1,421 | $118 |
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| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Insight LX | $208 | $400 | $382 | $22 | $114 | $1,126 | $94 |
| Insight EX | $240 | $472 | $382 | $22 | $114 | $1,230 | $103 |
| Get Your Own Custom Quote Go | |||||||
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Rate quotes do not factor in zip code location which can alter premium rates substantially.
Based on the figures above, using a $250 deductible will cost in the ballpark of $14 more each month or $168 a year than quoting the higher $500 deductible. Because you would pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you tend to have at a minimum 18 months between claim filings, you would probably come out ahead by selecting a higher deductible.
How to determine when to raise your deductibles
| Average monthly premium for $250 deductibles: | $113 |
| Average monthly premium for $500 deductibles (subtract): | – $99 |
| Monthly savings from raising deductible: | $14 |
| Difference between deductibles ($500 – $250): | $250 |
| Divide difference by monthly savings: | $250 / $14 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 18 months |
The chart below illustrates how your choice of deductibles and can change Honda Insight premium costs for each age group. The prices are based on a married female driver, full physical damage coverage, and no other discounts are factored in.
Impact of speeding/accidents on auto insurance rates
The information below shows how traffic citations and fender-benders influence Honda Insight premium costs for different age groups. The rate quotes are based on a single male driver, full coverage, $1,000 deductibles, and no other discounts are factored in.
How much more does full coverage cost in El Paso?
The information below visualizes the comparison of Honda Insight yearly insurance costs with full physical damage coverage compared to only buying liability only. The premium estimates are based on no accidents or driving violations, $1,000 deductibles, single marital status, and no discounts are applied to the premium.
Guidelines for dropping full coverage
There is no written rule to drop comp and collision coverage, but there is a broad guideline. If the yearly cost of full coverage is more than about 10% of the settlement you would receive from your company, then you might want to think about dropping full coverage.
For example, let’s assume your Honda Insight replacement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company will settle for is $3,000 after paying your deductible. If you are paying more than $300 a year for your policy with full coverage, then you may want to consider only buying liability coverage.
There are some situations where dropping full coverage is not financially feasible. If you haven’t paid off your loan, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not consider dropping full coverage.
Do I need an insurance agent?
Some consumers would prefer to have an agent’s advice and we recommend doing that One of the benefits of price shopping on the web is that you can find cheap auto insurance quotes and still choose a local agent. Buying from and supporting local agencies is important particularly in El Paso.
Upon completion of this quick form, the quote information is transmitted to local insurance agents that give free quotes for your auto insurance coverage. You don’t have to even leave your home since rate quotes are delivered straight to your inbox. You can most likely find cheaper rates AND an agent nearby. In the event you want to quote rates from a particular provider, feel free to go to their quote page and fill out their quote form.
Finding a good insurer is decision based upon more than just a low price. These questions are important to ask:
- Will one accident increase rates?
- Do they review policy coverages at every renewal?
- Does the company have a solid financial rating?
- Can you use your own choice of collision repair facility?
- Is assistance available after office hours?
- Are there any hidden costs in their price quote and does it include driving and credit history?
- Which insurance company do they prefer to write with?
After talking to the agent and getting good answers to all your questions as well as affordable Honda Insight insurance rates in El Paso quotes, you may have just found a company that meets the requirements to properly insure your vehicles. But keep in mind once you purchase a policy you can terminate coverage any time you want so don’t assume that you are obligated to the auto insurance policy for the entire policy term.