Best Cheap Insurance Quotes for a Honda Accord in Colorado

Our staff writers always rib each other than when writing about auto insurance, the words cheap or affordable shouldn’t be used as a descriptor for car insurance rates. It’s just a fact that cheap car insurance for a Honda Accord can be extremely hard to find. But don’t let us ruin your dream, because we will tell you how you can get auto insurance that is cheaper than your current policy.

The chances of finding cheap auto insurance for a Honda Accord in Colorado hinges on factors such as whether or not your vehicle has good safety ratings, whether or not you are currently insured, and the deductible amount you use. Drivers in Colorado pay on average $810 annually to buy Honda Accord insurance, but that is an estimate calculated based on a 50-year-old married male who purchased full coverage including both comprehensive and collision and $500 physical damage deductibles.

More than likely, you are not 50 and maybe not even a male, possibly single instead of married, or maybe you have a couple of speeding tickets. What seems to be a minor change in policy rating data can cause big changes in rates.

Auto insurance is not the same for everyone, so the only way to find affordable rates for your Honda is to get into the habit of comparing rates once a year.

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The trim level of your Honda tends to have a direct effect on price, so the price to insure a Accord LX 4-Dr Sedan trim level will be $286 less expensive the price to insure the more expensive Accord EX-L 2-Dr Coupe trim level, as shown by the rates below.

Above prices assume married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Information does not factor in zip code location which can modify rates substantially.

Figuring out which company has the lowest-priced car insurance rates for a Honda Accord takes a bit more work in order to find the most economical policy.

Each company used slightly different criteria for setting prices, so let’s take a look at the overall cheapest car insurance companies in Colorado.

Cheap Insurance Rates for Your Accord

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The Hartford quotes some of the best car insurance rates in Colorado at around $825 a year. Grange, USAA, Nationwide, and GEICO also rank well as some of the most economical Colorado car insurance companies.

In the rate table above, if you currently buy coverage from Grange and switched to The Hartford, you might realize an annual premium reduction of in the neighborhood of $162. Policyholders with USAA could save as much as $184 a year, and Nationwide insureds might cut rates by $284 a year.

To get a quick, customized rate comparison, click here or click several companies below for low rates.

Bear in mind that those premiums are averages across all types of drivers and the different vehicles they drive and and are not calculated with a specific rating modification for a Honda Accord. So the car insurance company that can offer you the lowest price may not even be featured in the company chart above. That illustrates why you need to get auto insurance quotes using your own driver information and specific vehicle type.

Full coverage rates compared to liability only

Finding the best cheap insurance for a Honda Accord in Colorado is the goal of the majority of people, and one of the quickest ways to reduce the cost of insurance is to only pay for liability coverage. The illustration below shows the difference between annual premium costs with and without full coverage. The rate quotes are based on no accidents, no driving violations, $500 deductibles, drivers are single, and no discounts are factored in.

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Averaged for all ages 20 through 70, comp and collision coverage costs an additional $2,209 per year over having just liability coverage. That amount may make you wonder if physical damage coverage is worth the money. There is no definitive rule of when to stop paying for physical damage coverage on your policy, but there is a general school of thought. If the yearly cost of full coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.

For example, let’s pretend your vehicle’s book value is $7,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company will settle for is $6,000 after the deductible is paid. If premium cost is more than $600 a year for comprehensive and collision coverage, then you may want to consider only buying liability coverage.

There are some conditions where removing full coverage is not financially feasible. If you haven’t satisfied your loan, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should not eliminate full coverage.

Discounts on Colorado car insurance

Auto insurance companies that provide the best cheap insurance for a Honda Accord in Colorado could also offer premium discounts that could lower prices by 30% or more if you qualify. The best car insurance companies and some of the discounts can be found below.

The illustration below visualizes the comparison of auto insurance costs with and without discounts being applied to the rates. The information is based on a female driver, no claims or driving citations, Colorado state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with marriage, passive restraint, anti-theft, defensive driving course, homeowner, and claim-free discounts applied. In this example, the the average amount saved on car insurance for a Honda Accord is % or $.

google.charts.setOnLoadCallback(drawDiscqcibChart);function drawDiscqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Female Driver No Discounts’, ‘Female Driver with Discounts’],[‘Age 20’, 2337,1681],[‘Age 30’, 1599,1159],[‘Age 40’, 1489,1077],[‘Age 50’, 1303,949],[‘Age 60’, 1261,915],[‘Age 70’, 1477,1065]]);var options = {title: ‘Effect of Discounts on Insurance Price for a Honda Accord’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’:{left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#c096ca’, ‘#e1b7ec’],hAxis: {title: ‘Annual Insurance Cost for a Honda Accord’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdisc’));chart.draw(data, options);}

Find the best cheap insurance for a Honda Accord in Colorado

Below you’ll find many penny-pinching solutions that can help Colorado drivers buy more affordable coverage.

• Increase your credit rating
• Higher comprehensive and collision coverage deductibles will save money
• Be a safe driver
• Vehicles with good safety ratings are usually cheaper to insure
• Being accident-free can lower rates significantly
• Compare rate quotes frequently

The final tip is very important, as we noted in the article above. Insurance prices can change significantly in a year, so drivers shouldn’t be reluctant to switch to a new company if you can find a cheaper rate. Many drivers tend to have loyalty to a certain company, but we do not recommend it if that stubbornness costs you a small fortune. In just a few minutes you could compare rates to find cheaper auto insurance for a Honda Accord.

State Farm, Geico, Allstate, or Progressive: Who is cheapest?

When shopping for insurance for an Accord, four good companies to start with are State Farm, Geico, Allstate, and Progressive. All of them have unique features and discounts that policyholders can choose from. The next table compares some of the different options and features that are available for buyers.