Buying cheaper coverage for a Honda Accord relies on a lot of rating criteria such as your birth date, the performance level of your vehicle, and citations on your driving record. Colorado drivers pay approximately $798 each year for Accord insurance, but that is an approximation calculated based on a 30-year-old married male driver with full comprehensive and collision coverage and $1,000 deductibles.
There's a good chance you may not be 30 years old (or even male), maybe you are single instead of married, or maybe you need higher liability limits than the state minimum. This illustrates why the only way to find cheap auto insurance rates for your Honda is to compare as many rates as you can. Comparing quotes is easy and you will be able to see rates from the cheapest companies in Colorado.
The specific trim level will likely have an effect on the cost of insurance, so the rate you pay to insure a Accord LX 4-Dr Sedan will be $280 less than the cost to insure the more well-appointed Accord EX-L 2-Dr Coupe version, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Accord LX 4-Dr Sedan||$146||$236||$298||$18||$90||$788||$66|
|Accord EX 4-Dr Sedan||$146||$236||$298||$18||$90||$788||$66|
|Accord LX-P 4-Dr Sedan||$146||$236||$298||$18||$90||$788||$66|
|Accord EX-L 4-Dr Sedan||$168||$288||$298||$18||$90||$862||$72|
|Accord EX 2-Dr Coupe||$168||$340||$396||$24||$118||$1,046||$87|
|Accord LX-S 2-Dr Coupe||$168||$340||$396||$24||$118||$1,046||$87|
|Accord EX-L 2-Dr Coupe||$190||$340||$396||$24||$118||$1,068||$89|
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Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, homeowner, and multi-policy. Estimates do not factor in specific location information which can affect premiums substantially.
Establishing which companies offer the lowest-priced insurance rates for a Honda Accord calls for more work than just picking a company at random. Every insurance company has a unique formula for setting rates, so let's take a look at the insurance companies that tend to have lower prices in Colorado Springs.
It's important to understand that Colorado Springs, CO insurance rates are calculated based on many things which can substantially change the cost of your policy. Simply having another birthday, buying another vehicle, or getting into an accident may prompt premium changes that can cause some rates to be more affordable than competitors.
Find Cheaper Car Insurance for Your Accord
The Hartford normally has some of the most affordable car insurance rates in Colorado Springs at around $825 per year. Grange, USAA, Nationwide, and GEICO also rank well as some of the more affordable Colorado Springs, CO auto insurance companies.
In the above example, if you are insured with Grange and switched to The Hartford, you may see savings of about $124. Insureds with USAA might save as much as $174 a year, and Nationwide customers might cut rates by $296 a year.
To find cheaper insurance rates for your vehicle, click here to start a quote or feel free to get quotes from the companies below.
Remember that these policy rates are averages across all types of drivers and the different vehicles they drive and do not factor in a vehicle location for a Honda Accord. So the insurer that fits your needs best may not even be in the top 21 companies shown above. That is why you need to quote rates from many companies using your own driver data and vehicle information.
Insurance rate increases from tickets or accidents
In a perfect world, the best way to obtain affordable insurance premiums in Colorado Springs for an Accord is to drive safe and maintain a clean driving record. The illustration below shows how traffic citations and accident claims influence premium costs for different age groups. The prices are based on a married female driver, comprehensive and collision coverage, $500 deductibles, and no other discounts are factored in.
In the previous chart, the average cost of an auto insurance policy in Colorado per year with no violations or accidents is $1,691. Add in two speeding tickets and the average cost jumps to $2,402, an increase of $711 each year. Now get one accident along with the two speeding tickets and the annual cost of insurance for a Honda Accord increases to an average of $3,131. That's an increase of $1,440, or $120 per month, just for not driving attentively!
Discount Colorado Springs insurance
Auto insurance companies that provide coverage for a Honda Accord could also offer policy discounts that may potentially lower prices by as much as 25% or more if you meet eligibility requirements. Larger insurance companies and a partial list of their discounts include:
- American Family offers discounts including mySafetyValet, good driver, air bags, early bird, accident-free, defensive driver, and TimeAway discount.
- State Farm may include discounts for student away at school, Steer Clear safe driver discount, anti-theft, passive restraint, good student, multiple autos, and defensive driving training.
- 21st Century discounts include air bags, early bird, good student, driver training, automatic seat belts, and teen driver.
- Travelers offers premium reductions for IntelliDrive, continuous insurance, student away at school, driver training, and multi-policy.
- GEICO may have discounts that include daytime running lights, seat belt use, military active duty, anti-lock brakes, and five-year accident-free.
The illustration below shows the difference between insurance prices with and without discounts applied. The data assumes a male driver, no violations or accidents, Colorado state minimum liability limits, comprehensive and collision coverage, and $250 deductibles.
The first bar for each age group shows the price with no discounts. The second shows the rates with anti-theft, homeowner, vehicle safety, multiple vehicle, multiple policy, and safe-driver discounts applied. When drivers qualify for the discounts, theaverage yearly reduction on insurance for a Honda Accord is 28% or $508.
The information below illustrates how choosing a deductible can change insurance premiums when trying to find cheap insurance for a Honda Accord. Data assumes a single male driver, full physical damage coverage, and no other discounts are factored in.
The chart above illustrates that a 40-year-old driver could pocket $290 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $436 by selecting a $1,000 deductible. Younger drivers, such as the Age 20 example, could save as much as $948 each year by using higher deductibles when buying full coverage. When choosing a higher deductible, it will now be necessary to have plenty of discretionary funds to enable you to pay the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
If you have coverage questions and would like to have a consultation when buying car insurance for a Honda Accord, the insurance agencies below are willing to provide answers to your questions and help you determine which insurance coverage will be best for you. To find an auto insurance agency nearest to you, click the button below the list or click here to compare price quotes now.
- Southern Colorado Insurance Center
4390 Academy Blvd N - Colorado Springs, CO 80918 - (719) 329-4441
- American Family Insurance - Ed Reed
202 E Cheyenne Mountain Blvd k - Colorado Springs, CO 80906 - (719) 540-8400
- American Family Insurance - Diane Christensen
1957 W Uintah St - Colorado Springs, CO 80904 - (719) 477-1636