2004 Honda Element Insurance Rates – 7 Savings Tips

Nobody looks forward to buying car insurance, particularly when the price is too high. You have multiple car insurance companies to purchase coverage from, and even though it’s nice to have a selection, it can be more challenging to adequately compare rates.

Finding the best rates is not rocket science. If you currently have a car insurance policy, you stand a good chance to be able to lower your premiums substantially using this information. Drivers only need to know the most efficient way to get comparison rates over the internet.

Discounts are basically free money

Auto insurance companies do not advertise every available discount very clearly, so we took the time to find both the well known and the harder-to-find savings tricks you should be using. If you’re not getting every credit you deserve, you are paying more than you should be.

  • Distant Student – Youth drivers who attend school more than 100 miles from home and do not have a car may qualify for this discount.
  • Good Student Discount – Getting good grades can earn a discount of 20% or more. The good student discount can last up to age 25.
  • Passive Restraint Discount – Vehicles with factory air bags or automatic seat belts can receive discounts of more than 20%.
  • Drive Safe and Save – Drivers who avoid accidents can get discounts for up to 45% lower rates on Element insurance than their less cautious counterparts.
  • E-sign – Certain companies will discount your bill up to fifty bucks for buying your policy digitally online.
  • Homeowners Discount – Owning a home can save you money because maintaining a house demonstrates responsibility.
  • Drivers Ed for Students – Require your teen driver to successfully complete driver’s ed class if it’s offered in school.

Consumers should know that many deductions do not apply the the whole policy. Most cut the price of certain insurance coverages like collision or personal injury protection. Just because you may think all the discounts add up to a free policy, it just doesn’t work that way.

A partial list of companies that possibly offer these discounts may include but are not limited to:

Double check with all companies you are considering which discounts they offer. Savings might not apply everywhere.

Which insurance is the “right” coverage?

When buying the right insurance coverage, there really is not a “perfect” insurance plan. Every insured’s situation is different so this has to be addressed. Here are some questions about coverages that can aid in determining whether or not you could use an agent’s help.

  • Am I covered when driving someone else’s vehicle?
  • Do I need an umbrella policy?
  • Am I covered if hit by an uninsured driver?
  • Does liability extend to a camper or trailer?
  • Can I rate high risk drivers on liability-only vehicles?
  • How high should my medical payments coverage be?

If it’s difficult to answer those questions but you know they apply to you, you may need to chat with an agent. If you want to speak to an agent in your area, take a second and complete this form or click here for a list of insurance companies in your area. It only takes a few minutes and you can get the answers you need.

Learn about insurance coverages for a 2004 Honda Element

Knowing the specifics of insurance can help you determine appropriate coverage and the correct deductibles and limits. Insurance terms can be ambiguous and coverage can change by endorsement. Shown next are typical coverages offered by insurance companies.

Medical payments coverage and PIP

Personal Injury Protection (PIP) and medical payments coverage kick in for short-term medical expenses such as nursing services, hospital visits and surgery. The coverages can be utilized in addition to your health insurance plan or if you are not covered by health insurance. It covers both the driver and occupants in addition to being hit by a car walking across the street. PIP coverage is not available in all states but can be used in place of medical payments coverage

Coverage for liability

Liability coverage protects you from damage or injury you incur to other’s property or people. This coverage protects you against claims from other people. It does not cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have policy limits of 50/100/50 which means $50,000 bodily injury coverage, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property.

Liability insurance covers claims like medical services, court costs, funeral expenses and legal defense fees. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as much as you can afford.

Uninsured/Underinsured Motorist coverage

This coverage protects you and your vehicle’s occupants from other drivers when they are uninsured or don’t have enough coverage. Covered losses include injuries to you and your family and damage to your Honda Element.

Since many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Comprehensive coverage

This coverage covers damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for claims like damage from getting keyed, damage from flooding, damage from a tornado or hurricane, theft and vandalism. The maximum payout a insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Collision protection

Collision insurance pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against things such as crashing into a building, damaging your car on a curb, sustaining damage from a pot hole, hitting a mailbox and scraping a guard rail. This coverage can be expensive, so consider removing coverage from lower value vehicles. Drivers also have the option to choose a higher deductible to save money on collision insurance.

In any little way, save everyday

When trying to cut insurance costs, do not buy lower coverage limits just to save a few bucks. There are many occasions where someone sacrificed full coverage only to find out that it was a big error on their part. Your goal should be to buy a smart amount of coverage at the best price.

Low-cost 2004 Honda Element insurance can be bought both online and with local insurance agents, so you should compare both to have the best chance of lowering rates. Some insurance companies do not offer the ability to get a quote online and usually these small insurance companies provide coverage only through local independent agents.

We covered many ways to shop for insurance online. It’s most important to understand that the more rate comparisons you have, the better your comparison will be. You may be surprised to find that the biggest savings come from the least-expected company. These companies can often provide lower rates in certain areas compared to the large companies like Progressive or Geico.

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