Save Money on Honda Accord Insurance in Toledo

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Really, the only way to save on auto insurance rates in Toledo is to regularly compare quotes from providers in Ohio.

  1. Try to learn a little about how insurance companies determine prices and the steps you can take to keep rates in check. Many rating factors that are responsible for high rates such as traffic violations and an unfavorable credit rating can be eliminated by paying attention to minor details.
  2. Request price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can give quotes from one company like Progressive or State Farm, while independent agents can give you price quotes for a wide range of insurance providers.
  3. Compare the new quotes to your existing coverage and determine if cheaper Accord coverage is available in Toledo. If you find a lower rate quote and make a switch, make sure coverage is continuous and does not lapse.

A good tip to remember is to make sure you enter similar limits and deductibles on every quote request and and to get price quotes from as many companies as you can. This enables the most accurate price comparison and a thorough selection of prices.

Insurance quote for Honda Accord in ToledoIt's easy to assume that auto insurance companies don't want you to look for a cheaper policy. Consumers who shop around at least once a year will probably buy a different policy because there is a good chance of finding a lower-cost company. A survey found that drivers who routinely shopped for cheaper coverage saved over $3,400 over four years compared to policyholders who never shopped around.

If finding budget-friendly auto insurance is the reason you're reading this, understanding how to compare insurance premiums can make it easier for you to save money.

Finding affordable coverage in Toledo is actually not that difficult if you follow our advice. If you have a current insurance policy, you stand a good chance to be able to reduce the price you pay using these techniques. But Ohio vehicle owners must understand how big insurance companies calculate your policy premium because rates are impacted by many factors.

The easiest way to compare rates for Honda Accord insurance in Toledo is to know the trick most insurance companies actually pay money for the chance to give you rate quotes. All you need to do is provide the companies a bit of rating information such as how old drivers are, how much school you completed, the year, make and model of vehicles, and if it has an anti-theft system. That rating data is submitted instantly to many of the top insurers and they return rate quotes within a short period of time.

To find lower lower-cost Honda Accord insurance rates now, click here and complete the form.

The providers in the list below are ready to provide price quotes in Ohio. If your goal is to find cheap auto insurance in Ohio, we recommend you visit two to three different companies to get the best price comparison.

Save with these discounts

Insuring your fleet can be pricey, but there may be some discounts to help offset the cost. A few discounts will automatically apply at the time of quoting, but less common discounts must be asked about prior to receiving the credit. If you're not getting every credit you qualify for, you could be saving more on your auto insurance.Discount auto insurance

  • Theft Deterrent - Anti-theft and alarm system equipped vehicles help deter theft so companies will give you a small discount.
  • Driver's Education for Students - Reduce the cost of insurance for teen drivers by having them participate in a local driver's education class if it's offered in school.
  • Air Bags and Passive Restraints - Vehicles with factory air bags or motorized seat belts may earn rate discounts of 25 to 30%.
  • Pay Early and Save - If you can afford to pay the entire bill instead of monthly or quarterly installments you may reduce your total bill.
  • First Accident Forgiveness - This isn't a discount exactly, but some insurance companies will let one accident slide before hitting you with a surcharge with the catch being you have to be claim-free prior to the accident.
  • Sign Early and Save - Select companies give a discount for buying a policy prior to your current Accord insurance policy expiration. Ten percent is about the average savings.
  • Telematics Data Discounts - Drivers who elect to allow companies to scrutinize vehicle usage through the use of a telematics system such as State Farm's In-Drive might see lower rates if they are good drivers.
  • Lower Rates for Military - Being deployed in the military could trigger a small discount.
  • Safety Course Discount - Passing a course teaching driver safety skills may get you a small discount depending on where you live.

As is typical with insurance, some of the credits will not apply to the overall cost of the policy. Most only reduce the price of certain insurance coverages like comprehensive or collision. So even though they make it sound like you can get free auto insurance, companies wouldn't make money that way.

The information below visualizes the comparison of Honda Accord insurance premiums with and without discounts applied to the policy rates. The rate quotes are based on a female driver, no violations or accidents, Ohio state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, marriage, homeowner, multi-policy, and claim-free discounts applied.

Larger auto insurance companies and their possible discounts can be read below.

  • Progressive has savings for continuous coverage, online signing, multi-vehicle, multi-policy, online quote discount, homeowner, and good student.
  • AAA may offer discounts for multi-policy, AAA membership discount, good driver, good student, education and occupation, pay-in-full, and multi-car.
  • Farmers Insurance discounts include good student, alternative fuel, bundle discounts, teen driver, youthful driver, multi-car, and business and professional.
  • GEICO policyholders can earn discounts including multi-vehicle, driver training, federal employee, daytime running lights, and multi-policy.
  • Esurance includes discounts for DriveSense, paid-in-full, multi-car, good student, anti-theft, and good driver.
  • SAFECO may have discounts that include drive less, teen safety rewards, anti-theft, teen safe driver, and accident prevention training.
  • State Farm may include discounts for anti-theft, safe vehicle, good student, Steer Clear safe driver discount, passive restraint, and multiple policy.

When comparing rates, check with every prospective company to give you their best rates. Some credits may not apply in your state.

Honda Accord detailed coverage information

The rate information below covers detailed analysis of rate quotes for Honda Accord models. Having knowledge of how car insurance premiums are formulated can help customers make decisions on which insurance to purchase.

Honda Accord Insurance Rates in Toledo, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Accord LX 4-Dr Sedan $104 $188 $260 $16 $78 $646 $54
Accord EX 4-Dr Sedan $104 $188 $260 $16 $78 $646 $54
Accord LX-P 4-Dr Sedan $104 $188 $260 $16 $78 $646 $54
Accord EX-L 4-Dr Sedan $120 $228 $260 $16 $78 $702 $59
Accord EX 2-Dr Coupe $120 $270 $346 $20 $104 $860 $72
Accord LX-S 2-Dr Coupe $120 $270 $346 $20 $104 $860 $72
Accord EX-L 2-Dr Coupe $136 $270 $346 $20 $104 $876 $73
Get Your Own Custom Quote Go

Data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Price estimates do not factor in Toledo location which can lower or raise coverage rates substantially.

Higher deductibles lower rates

A question often asked by Toledo drivers is at what level do you set your deductibles. The comparison tables below highlight the premium difference between high and low comp and collision deductibles. The first rate estimation uses a $100 comprehensive and collision deductible and the second data table uses a $500 deductible.

Honda Accord insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Accord LX 4-Dr Sedan $170 $290 $192 $12 $58 $747 $62
Accord EX 4-Dr Sedan $170 $290 $192 $12 $58 $747 $62
Accord LX-P 4-Dr Sedan $170 $290 $192 $12 $58 $747 $62
Accord EX-L 4-Dr Sedan $196 $352 $192 $12 $58 $835 $70
Accord EX 2-Dr Coupe $196 $416 $256 $16 $76 $985 $82
Accord LX-S 2-Dr Coupe $196 $416 $256 $16 $76 $985 $82
Accord EX-L 2-Dr Coupe $220 $416 $256 $16 $76 $1,009 $84
Get Your Own Custom Quote Go
Honda Accord insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Accord LX 4-Dr Sedan $124 $196 $192 $12 $58 $582 $49
Accord EX 4-Dr Sedan $124 $196 $192 $12 $58 $582 $49
Accord LX-P 4-Dr Sedan $124 $196 $192 $12 $58 $582 $49
Accord EX-L 4-Dr Sedan $142 $238 $192 $12 $58 $642 $54
Accord EX 2-Dr Coupe $142 $280 $256 $16 $76 $770 $64
Accord LX-S 2-Dr Coupe $142 $280 $256 $16 $76 $770 $64
Accord EX-L 2-Dr Coupe $160 $280 $256 $16 $76 $788 $66
Get Your Own Custom Quote Go

Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, multi-policy, and claim-free. Table data does not factor in vehicle location which can affect auto insurance rates noticeably.

Based on the figures above, using a $100 deductible costs roughly $16 more each month or $192 for a full year averaged for all Accord models than selecting the higher $500 deductible. Because you would be required to pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you tend to have at a minimum 25 months between claims, you would save money if you choose the higher deductible.

How to calculate deductible break even period

Average monthly premium for $100 deductibles: $72
Average monthly premium for $500 deductibles (subtract): - $56
Monthly savings from raising deductible: $16
Difference between deductibles ($500 - $100): $400
Divide difference by monthly savings: $400 / $16
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 25 months

Full coverage rates vs. liability-only

The illustration below illustrates the comparison of Honda Accord auto insurance rates with and without physical damage coverage. The price estimates are based on a clean driving record, no claims, $250 deductibles, single marital status, and no additional discounts are factored in.

When to stop buying comprehensive and collision coverage

There is no set guideline to eliminate full coverage on your policy, but there is a general guideline you can use. If the annual cost of your full coverage insurance is about 10% or more of any settlement you would receive from your insurance company, then it's probably a good time to buy liability coverage only.

For example, let's say your Honda Accord book value is $6,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company would pay you is $5,000 after the policy deductible has been paid. If premiums are more than $500 a year for comprehensive and collision coverage, then it might be time to consider dropping full coverage.

There are a few cases where dropping full coverage is not recommended. If you still owe a portion of the original loan, you must maintain physical damage coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should keep full coverage in place.

Honda Accord Insurance Premium Factors

Consumers need to have an understanding of the rating factors that help calculate insurance rates. If you have some idea of what impacts premium levels, this allows you to make educated decisions that may result in cheaper rates.

  • Gender and auto insurance - Statistics have proven women tend to be less risk to insure than men. However, don't assume that men are worse drivers. Women and men are responsible for at-fault accidents at a similar rate, but males cause more damage and cost insurance companies more money. Men also statistically receive more costly citations like driving under the influence (DUI). Young males tend to get in the most accidents and are penalized with high insurance rates.

    The illustration below visualizes the comparison of Honda Accord insurance costs for male and female drivers. The costs are based on a clean driving record, no at-fault accidents, full physical damage coverage, $1,000 deductibles, drivers are single, and no discounts are taken into consideration.

  • Incidental coverages can cost a lot - There are many extra coverages that can add up but may not be useful. Coverages for rental car coverage, towing, and additional equipment coverage are some examples. These coverages may sound good when deciding what coverages you need, but now you might not need them so think about removing them and cutting costs.
  • What are good liability limits? - Liability coverage will afford coverage if ever you are ruled to be at fault for causing personal injury or damage in an accident. It provides legal defense coverage up to the limits shown on your policy. This coverage is relatively inexpensive when compared with rates for comp and collision, so insureds should have plenty of protection for their assets.
  • Deter theft and pay less - Purchasing a vehicle with advanced anti-theft systems can help lower your rates. Theft prevention features such as GM's OnStar, tamper alarm systems and vehicle immobilizers help track and prevent car theft.
  • More traffic equals higher rates - Living in less populated areas of the country can save you money when shopping for auto insurance. Lower population means a lower chance of having an accident in addition to fewer liability claims. Residents of big cities have more traffic problems and more severe claims. More time commuting means a statistically higher chance of an accident.
  • Insurance loss statistics a Honda Accord - Insurance companies include the past claim trends for vehicles as a tool for profitable underwriting. Vehicles that the statistics show to have higher claim amounts or frequency will cost more for coverage.

    The next table shows the actual insurance loss data for Honda Accord vehicles. For each coverage category, the claim amount for all vehicles, regardless of make, model or trim level, equals 100. Numbers shown that are under 100 are indicative of better than average losses, while numbers that are greater than 100 point to more frequent losses or larger claims.

    Auto Insurance Loss Data for Honda Accord Models
    Specific Honda Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Honda Accord 91 85 90 122 117 94
    Honda Accord Hybrid 96 80 98 89 76 84
    Honda Accord Crosstour 4dr 2WD 85 97 83 122 113 94
    Honda Accord Crosstour 4dr 4WD 99 102 94 120 93

    Empty fields indicate not enough data collected
    Data Source: (Insurance Institute for Highway Safety) for 2013-2015 Model Years