Cheaper 2015 Honda CR-V Insurance Cost

Sick and tired of robbing Peter to pay Paul to buy car insurance? Your situation is no different than many other drivers.

There is such a variety of car insurance companies to purchase coverage from, and although it’s nice to be able to choose, so many choices can make it hard to locate the cheapest rates.

Consumers need to take a look at other company’s rates occasionally since rates fluctuate regularly. Even if you got the lowest rates on CR-V insurance last year you may be paying too much now. There is a lot of wrong information about insurance coverage online but I’m going to show you some great ideas on how to buy insurance coverage cheaper.

This article will let you in on how car insurance quotes work and some tips to save money. If you currently have a car insurance policy, you stand a good chance to be able to lower your premiums substantially using these methods. Although car owners benefit from understanding how the larger insurance companies market insurance on the web and take advantage of how the system works.

Honda CR-V insurance rates consist of many parts

Consumers need to have an understanding of some of the elements that go into determining the rates you pay for auto insurance. Understanding what determines base rates empowers consumers to make smart changes that can help you get much lower annual insurance costs.

Listed below are a few of the “ingredients” used by your company to calculate your rates.

  • Lower rates with optional equipment – Purchasing a vehicle with an alarm system can save you a little every year. Theft prevention devices like GM’s OnStar, tamper alarm systems and vehicle immobilizers all aid in stopping your car from being stolen.
  • Discounts for multiple policies – The majority of insurers give discounts to people who have multiple policies with them. It’s known as a multi-policy discount. This can amount to five, ten or even twenty percent. If you currently are using one company, it’s in your best interest to shop around to verify if the discount is saving money. Consumers may find a better deal by buying auto insurance from a different company.
  • How your age affects price – Older drivers are more cautious drivers, statistically cause fewer accidents and are safer drivers. Youthful drivers are statistically proven to be more careless behind the wheel and because of this, their auto insurance rates are much higher.
  • Where you live is a factor – Being located in small towns and rural areas is a positive aspect when buying auto insurance. Fewer drivers means fewer accidents and a lower car theft rate. Drivers who live in large cities tend to have more traffic problems and longer commute times. Longer commute distances means higher likelihood of an accident.
  • Don’t skimp on liability – Liability insurance will protect you if a jury decides you are liable for causing damage or personal injury in an accident. Liability insurance provides legal defense coverage starting from day one. Carrying liability coverage is mandatory and cheap compared to physical damage coverage, so do not cut corners here.
  • Rates may be lower depending on your job – Occupations like doctors, executives and dentists tend to have the highest average rates attributed to job stress and lots of time spent at work. Other jobs such as scientists, historians and retirees receive lower rates on CR-V insurance.

Don’t overlook these discounts

The price of auto insurance can be rather high, buy you may qualify for discounts that can drop the cost substantially. A few discounts will automatically apply at quote time, but lesser-known reductions have to be manually applied before being credited.

  • Multiple Policy Discount – If you have multiple policies with the same company you will save at least 10% off all policies.
  • Defensive Driver – Taking a course in driver safety could save 5% or more if your company offers it.
  • Anti-lock Brake System – Anti-lock brake equipped vehicles can reduce accidents and therefore earn up to a 10% discount.
  • Good Students Pay Less – Performing well in school can earn a discount of 20% or more. The good student discount can last up to age 25.
  • Safe Driver Discount – Drivers who don’t get into accidents can get discounts for up to 45% lower rates on CR-V insurance than their less cautious counterparts.
  • Early Switch Discount – Select companies give a discount for buying a policy before your current policy expires. It’s a savings of about 10%.
  • Resident Student – Youth drivers who are attending college and don’t have a car can be insured at a reduced rate.
  • Senior Citizens – Mature drivers may receive better car insurance rates on CR-V insurance.
  • Seat Belts Save – Buckling up and requiring all passengers to buckle their seat belts can save 10% or more off your PIP or medical payments premium.

Consumers should know that most credits do not apply to your bottom line cost. Some only reduce specific coverage prices like liability and collision coverage. So even though they make it sound like adding up those discounts means a free policy, companies don’t profit that way. But any discount will reduce the amount you have to pay.

Insurance companies that possibly offer these benefits are:

Double check with each insurance company what discounts are available to you. All car insurance discounts might not apply in every state.

Is my situation unique?

When buying coverage, there is no “best” method to buy coverage. Every insured’s situation is different so your insurance needs to address that. Here are some questions about coverages that might point out whether your personal situation might need an agent’s assistance.

  • Can I drive in Mexico and have coverage?
  • Should I buy more coverage than the required minimum liability coverage?
  • Does my insurance cover a custom paint job?
  • Will my vehicle be repaired with OEM or aftermarket parts?
  • Do I need rental car coverage?
  • Why is insurance for a teen driver so high?
  • Do I need PIP (personal injury protection) coverage in my state?

If you’re not sure about those questions but you know they apply to you, then you may want to think about talking to an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of car insurance companies in your area.

Detailed coverages of your car insurance policy

Knowing the specifics of your policy can help you determine the right coverages and the correct deductibles and limits. Car insurance terms can be impossible to understand and nobody wants to actually read their policy. Below you’ll find typical coverages found on the average car insurance policy.

Collision coverages – This coverage will pay to fix damage to your CR-V resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things such as crashing into a building, colliding with another moving vehicle, backing into a parked car and colliding with a tree. This coverage can be expensive, so consider removing coverage from older vehicles. It’s also possible to bump up the deductible to save money on collision insurance.

Auto liability – This coverage will cover damage that occurs to people or other property that is your fault. It protects you from legal claims by others. Liability doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 25/50/25 that translate to a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged propery. Alternatively, you may have one number which is a combined single limit which provides one coverage limit without having the split limit caps.

Liability coverage protects against things like pain and suffering, attorney fees and bail bonds. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.

Comprehensive insurance – Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things like falling objects, fire damage, hitting a bird and hitting a deer. The maximum amount a car insurance company will pay at claim time is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage gives you protection from other drivers when they are uninsured or don’t have enough coverage. It can pay for injuries to you and your family and damage to your Honda CR-V.

Since a lot of drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Most of the time these coverages are similar to your liability insurance amounts.

Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage pay for expenses for things like hospital visits, funeral costs, doctor visits and dental work. The coverages can be used to cover expenses not covered by your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover all vehicle occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state but can be used in place of medical payments coverage

Coverage on a shoestring budget

Cheaper 2015 Honda CR-V insurance can be sourced from both online companies and also from your neighborhood agents, and you should be comparing both to get a complete price analysis. Some insurance companies may not provide the ability to get a quote online and usually these smaller companies provide coverage only through local independent agents.

When buying insurance coverage, don’t be tempted to buy poor coverage just to save money. There are a lot of situations where an insured cut physical damage coverage to discover at claim time that the savings was not a smart move. The ultimate goal is to buy a smart amount of coverage at an affordable rate while not skimping on critical coverages.

More information can be read at these links: