Cheap Insurance Quotes for a Honda Accord in Indiana

The chances of finding cheap coverage for a Honda Accord in Indiana depends on a complex calculation that is influenced by things such as whether you are male or female, if you have maintained coverage continuously, and any prior driving offenses you have. Drivers in Indiana will pay around $670 a year to buy insurance for a Honda Accord, but that cost is an estimation based on rates for a 50-year-old single male who needs full physical damage coverage and $1,000 deductibles.

It’s highly likely you are not a 50-year-old male, possibly married instead of single, or maybe your Accord doesn’t need full coverage. Making minor changes in the rating input factors can induce significant differences in the cost of a policy.

Different coverage needs are the reason why the most reliable method for finding the most affordable coverage for your Honda is to comparison shop your policy at every renewal or at least every couple of years. It’s really quite easy you will be able to compare rates from top-rated companies that insure vehicles in Indiana.

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The specific trim level can impact the insurance rate, so the rate you pay to insure a Accord LX 4-Dr Sedan will cost $238 less than the insurance cost for the more expensive Accord EX-L 2-Dr Coupe trim level, as shown in the table below.

Price data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Table data does not factor in specific garaging location which can raise or lower insurance rates substantially.

Trying to buy low-cost insurance is not most people’s favorite thing to do, and finding out which company quotes the best auto insurance rates for a Honda Accord requires even more rate comparisons.

Each auto insurer uses their own method for establishing rates, so let’s take a look at the auto insurance companies with the overall cheapest rates in Indiana. We do need to point out that Indiana auto insurance rates are determined by lots of factors which can significantly increase or decrease the policy premium. Events such as a birthday, becoming a homeowner, or getting a couple of tickets can trigger price changes that can now make some companies more expensive than others.

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Travelers normally has some of the lowest car insurance rates in Indiana at around $614 each year. Cincinnati Insurance, USAA, Erie, and Western Reserve also rank well as some of the lowest-priced Indiana car insurance companies.

As shown above, if you are insured with USAA and switched to Travelers, you could earn annual savings of about $47. Customers with Erie might save as much as $112 a year, and Western Reserve policyholders might lower prices by up to $224 a year.

Remember that these prices are averages across all drivers and vehicles in Indiana and do not factor in a specific rate factor for a Honda Accord. So the auto insurance company that is most affordable for your situation may not even be in the rate chart shown above. That helps illustrate why you need to get car insurance quotes using your own specific driver and vehicle information.

Full coverage versus liability-only

Finding cheap insurance for a Honda Accord in Indiana is the goal of most drivers, and one common way to find cheaper insurance is to only buy liability coverage. The diagram below illustrates the comparison of car insurance rates with full phyical damage coverage and with liability coverage only. The rates are based on a clean driving record, no claims, $250 deductibles, drivers are not married, and no discounts are applied to the premium.

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As an overall average, physical damage coverage on your policy costs an additional $1,975 per year over and above liability coverage. A very common question is if it’s a good idea to buy full coverage. There is no definitive guideline to stop paying for physical damage coverage on your policy, but there is a general guideline. If the annual cost of having full coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.

For example, let’s assume your vehicle’s settlement value is $5,500 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $4,500 after the policy deductible has been paid. If it’s costing you more than $450 a year for full coverage, then you might want to consider buying only liability coverage.

There are some cases where removing full coverage is not recommended. If you still owe a portion of the original loan, you must maintain physical damage coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.

Company comparison: State Farm vs Allstate vs Geico vs Progressive

If you are looking for the best insurance for an Accord, the companies with the most market share are State Farm, Allstate, Geico, and Progressive. They all offer different optional coverages and features that shoppers can select from. The next table points out price, claims, and customer service ratings, as well as some optional coverages that may be available in Indiana.

How to find budget-friendly auto insurance for a Honda Accord

The list below summarizes some money-saving ideas that can help Indiana drivers find cheap coverage.

• Bundle home or renters insurance to earn a discount on car insurance
• Drive vehicles with five-star safety ratings
• Being accident-free can lower rates significantly
• Older vehicles may not need full coverage
• Good credit can save money
• Shop around for cheaper rates regularly

The last tip in the list is extraordinarily valuable, as we stressed in this write-up. Car insurance rates change a lot, so don’t be tentative to buy a policy from a new company if you find a better deal. Many drivers prefer to stick with one company, but we do not recommend it if it’s costing you lots of money. In just a couple of minutes you could shop around and find cheaper auto insurance for a Honda Accord.