Best Cheap Insurance for a Honda CR-V in Illinois

Your chances of buying cheaper insurance for a Honda CR-V in Illinois relies on a complex rating formula that takes into consideration things like if you are single or married, if you are a frequent claim filer, and if you had any at-fault accidents in the last few years. Drivers pay approximately $570 per year for CR-V insurance, but that is a projection based upon a 40-year-old married female that wants comprehensive and collision coverage and $500 deductibles.

More than likely, you’re not a 40-year-old female, single instead of married, and maybe your credit level is not the same as what was rated. Auto insurance is unique to every driver, so the best way to find the cheapest coverage for your Honda is to make a habit of comparing prices at least once a year.

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Your Honda’s trim level will be a contributing factor to the coverage cost, so the rate you pay to insure a CR-V LX 2WD trim level will be $20 less than the insurance cost for the higher-end CR-V EX-L 4WD trim level, as shown in the chart below.

Premium data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Illinois minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Premium costs do not factor in specific garaging location which can influence prices substantially.

Finding reliable, reasonably-priced auto insurance is easier said than done, and deciding which company has the cheapest insurance rates for a Honda CR-V will require a bit more work. Every car insurance company uses their own method to set their prices, so we’ll go over the most affordable insurance companies in Illinois.

Cheap Insurance Rates for Your Honda

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The Hartford normally has some of the lowest car insurance rates in Illinois at around $769 each year. Rockford Mutual, Titan, Erie, and Cincinnati Insurance also are some of the best Illinois auto insurance companies.

As shown in the table above, if you currently buy coverage from Erie and switched to The Hartford, you could realize an annual premium reduction of around $109. Policyholders with Cincinnati Insurance might save as much as $128 a year, and USAA insureds might realize rate reductions of up to $181 a year.

Remember that these premiums are averaged across all drivers and vehicles and do not take into consideration a specific rate factor for a Honda CR-V. So the auto insurance company that has the cheapest rates for you may not even be shown in the rate chart shown above. That illustrates why you need to get rate quotes using your own specific driver and vehicle information.

Get discounts on Illinois car insurance rates

Auto insurance companies that provide the best cheap insurance for a Honda CR-V in Illinois may also give you policy discounts that could potentially reduce rates by as much as 35% if you are eligible for them. A list of insurance companies and the discounts they provide can be read below.

• GEICO has savings for air bags, membership and employees, driver training, federal employee, multi-policy, daytime running lights, and anti-lock brakes.
• SAFECO may include discounts for teen safe driver, safe driver, multi-car, anti-lock brakes, bundle discounts, anti-theft, and accident prevention training.
• State Farm may have discounts that include multiple policy, passive restraint, Steer Clear safe driver discount, anti-theft, safe vehicle, good student, and defensive driving training.
• MetLife may offer discounts for good student, defensive driver, claim-free, accident-free, good driver, and multi-policy.
• 21st Century offers discounts for driver training, good student, anti-lock brakes, early bird, air bags, automatic seat belts, and defensive driver.
• Progressive has discounts for continuous coverage, homeowner, good student, multi-vehicle, and multi-policy.

The chart below shows the difference between annual premium costs with and without discounts applied to the rates. The premium estimates are based on a male driver, a clean driving record, no claims, Illinois state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with claim-free, anti-theft, multiple vehicle, defensive driving course, homeowner, and vehicle safety discounts applied. When these discounts are applied, the the average yearly reduction on insurance for a Honda CR-V is 27% or $413.

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Difference between liability only and full coverage rates

Finding the best cheap insurance for a Honda CR-V in Illinois is the goal of the majority of people, and an easy way to reduce the cost of insurance is to not insure for full coverage. The chart below compares yearly insurance costs with and without full coverage. The prices are based on no violations or claims, $250 deductibles, single marital status, and no discounts are taken into consideration.

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As an average for all age groups, physical damage coverage costs $1,410 per year more than just buying liability insurance. At some point, every insured wonders if buying full coverage is worth the money. There isn’t a steadfast formula for eliminating comprehensive and collision coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then it might be time to consider dropping full coverage.

There are a few situations where only buying liability is not a good plan. If you haven’t satisfied your loan, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not eliminate full coverage.

How to find the best cheap insurance for a Honda CR-V in Illinois

It is possible to find better rates, and here are a few penny-pinching suggestions that can help Illinois drivers find low-cost coverage.

• Good credit scores may lower your rates
• Avoid preventable accidents
• Speeding tickets and other violations increase rates
• Increase your policy deductibles
• Discounts for being claim-free can be substantial
• Buying car and homeowners insurance together can save money
• Compare rates once a year for cheaper prices

The last tip in the list is extremely critical, as was pointed out in this write-up. Rates in Illinois vary greatly, so drivers shouldn’t hesitate to switch companies if a better rate can be found.

Staying with the same company for years is fine, but it’s not recommended if that stubbornness costs you big bucks every year. Now is a great time to shop around to find cheaper auto insurance for a Honda CR-V.

Geico, Progressive, State Farm, or Allstate: Which is best?

If you want the best insurance for a CR-V, the top insurers to get price quotes from are Geico, Progressive, State Farm, and Allstate. When combined, they insure over 45% of all vehicles in the U.S.. All of them have a distinct set of features and optional coverages that buyers can choose from. The table below compares and contrasts some of the ratings and options that are available for customers.