Best Cheap Insurance Quotes for a Honda Accord in North Carolina

The likelihood of finding affordable auto insurance for a Honda Accord in North Carolina relies on things like whether you are married, the performance level of your vehicle, and physical damage deductibles. North Carolina drivers pay on average $930 a year for Accord insurance, but that policy rate is a valuation based on rates for a 40-year-old single female that included full comprehensive and collision coverage and $100 deductibles.

There is a good probability you are not 40 years old and maybe not even female, maybe you are married instead of single, or maybe you just want liability only. Changing even a minor factor in the rating criteria used to formulate rates can lead to a big change in how much insurance for a Honda Accord costs.

This shows why the only way to find cheap auto insurance rates for your Honda is to take your time and compare rates from as many companies as possible.

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Vehicle trim level will influence price, so the price to insure a Accord LX 4-Dr Sedan trim level will be $332 lower than the price to insure the higher-end Accord EX-L 2-Dr Coupe version, as shown below.

Prices based on single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Premium costs do not factor in specific North Carolina garaging location which can increase or decrease insurance rates noticeably.

Buying coverage from the top car insurance company can be a challenge considering how many different companies there are to choose from in North Carolina. The company rank data listed below could help you pick which auto insurers to look at when trying to find the cheapest insurance for a Honda Accord. The rankings below include insurance companies that insure vehicles in the majority of U.S. states, so companies without a large exposure are not taken into consideration for this list.

Do you need full coverage?

Finding the best cheap insurance for a Honda Accord in North Carolina is important to most drivers, and a great way to find cheap insurance is to only buy liability coverage. The example below illustrates the difference between yearly insurance costs when comparing full coverage to liability only. The information is based on a clean driving record, no at-fault accidents, $100 deductibles, drivers are not married, and no policy discounts are applied.

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If averaged for all ages, comp and collision coverage costs an extra $1,434 per year more than just buying liability insurance. That raises the question if buying full coverage is worth the money. There isn’t a steadfast formula of when to stop paying for full coverage on your policy, but there is a general school of thought. If the annual cost of coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.

For example, let’s assume your vehicle’s replacement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would receive is $2,000 after paying the physical damage deductible. If it’s costing in excess of $200 a year to have full coverage, then it might be time to buy liability only.

There are some cases where removing full coverage is not in your best interest. If you still have a lienholder on your title, you have to carry 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 keep full coverage in place.

The diagram below demonstrates how choosing different deductibles can influence premium costs when searching for cheap insurance for a Honda Accord. The rate quotes are based on a married male driver, comp and collision included, and no other discounts are factored in.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 2119,1937,1733,1541],[‘Age 30’, 1119,1023,911,801],[‘Age 40’, 1071,983,881,781],[‘Age 50’, 983,903,809,721],[‘Age 60’, 965,887,795,707],[‘Age 70’, 1105,1019,923,831]]);var options = {title: ‘Effect of Deductibles on Honda Accord Insurance Rates in North Carolina’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Insurance Cost for a Honda Accord’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

A 30-year-old driver could lower rates by $190 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $290 by changing to a $1,000 deductible. Even younger insureds, like the age 20 example, could possibly save $578 every year just by choosing higher deductibles when buying full coverage. If you do decide to increase your deductibles, it will be necessary to have additional funds in a savings account to enable you to pay the extra out-of-pocket expense that comes with higher deductibles.

Best rates: State Farm, Geico, Allstate, or Progressive

When buying insurance for an Accord, the most popular companies are State Farm, Geico, Allstate, and Progressive. Between them, they insure about 50% of the entire U.S. market share. All four offer physical damage and liability coverage, but each has different features and discounts that buyers can choose from. The table below shows price, claims, and customer service ratings, as well as some optional coverages offered by each one.