Are you at wits end from scraping the payment together to keep your car insured? You are in the same boat as the majority of other consumers in New Mexico.
Unfortunately, almost 70% of insureds in New Mexico have remained with the same insurance company for over three years, and nearly 40% of drivers have never compared rate quotes at all. With the average premium in the United States being $1,847, drivers could save almost 47% each year, but they don't invest the time required to compare rates. Many insurance companies vie to insure your vehicles, and because of this it can be hard to compare insurance companies and get the best coverage at the best rates possible on Honda Accord insurance in Las Cruces.
If you're already insured or just want to reduce your rates, use these money-saving tips to cut your premiums without reducing protection. Choosing the best insurance company for you in Las Cruces is really not that difficult. Smart shoppers just have to learn the quickest method to compare prices using one simple form.
Reducing your Honda Accord insurance rates is not rocket science. All you need to do is spend a few minutes on the computer comparing rate quotes online with multiple companies.
It's so fast and easy to compare rates online that it makes it a waste of time to physically go to local Las Cruces insurance agencies. Quoting Honda Accord insurance online reduces the need to sit down with an agent unless you have a need for the extra assistance of a local agency. Although, it is possible price shop your coverage online but still have the advice of a local agent.
The car insurance companies shown below offer price comparisons in New Mexico. If multiple companies are shown, we recommend you visit several of them in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Accord LX 4-Dr Sedan||$186||$338||$310||$18||$92||$944||$79|
|Accord LX 4-Dr Sedan||$130||$212||$280||$16||$84||$722||$60|
|Accord EX 4-Dr Sedan||$186||$342||$258||$16||$78||$880||$73|
|Accord LX-P 4-Dr Sedan||$188||$350||$262||$16||$78||$894||$75|
|Accord LX-P 4-Dr Sedan||$116||$212||$310||$18||$92||$748||$62|
|Accord EX-L 4-Dr Sedan||$150||$304||$332||$20||$100||$906||$76|
|Accord EX 2-Dr Coupe||$192||$410||$342||$20||$102||$1,066||$89|
|Accord LX-S 2-Dr Coupe||$308||$726||$492||$30||$148||$1,704||$142|
|Accord EX-L 2-Dr Coupe||$254||$490||$492||$30||$148||$1,414||$118|
|Get Your Own Custom Quote Go|
Table data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and New Mexico minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Estimates do not factor in specific location information which can impact insurance rates considerably.
Should you buy full coverage?
The diagram below illustrates the comparison of Honda Accord auto insurance rates with and without physical damage coverage. The premium estimates are based on no claims or driving violations, $250 deductibles, married female driver, and no policy discounts are applied.
Deciding between full coverage and liability only
There is no exact rule of when to drop full coverage, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then it might be time to buy liability only.
For example, let's pretend your Honda Accord replacement cost is $6,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would receive is $5,000 after paying your policy deductible. If it's costing you more than $500 a year for your policy with full coverage, then it might be time to consider dropping full coverage.
There are a few situations where dropping full coverage is not financially feasible. If you haven't satisfied your loan, you must maintain physical damage coverage as part of the loan conditions. Also, if you can't afford to buy a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.
Higher deductibles lower rates
The diagram below demonstrates how deductible levels and can impact Honda Accord premium costs for different age groups of insureds. The premium estimates are based on a single female driver, full coverage, and no policy discounts are applied.
Honda Accord insurance rates by age and gender
The diagram below shows the difference between Honda Accord insurance premiums for male and female drivers. The premium estimates are based on no claims or driving violations, comprehensive and collision coverage, $250 deductibles, drivers are single, and no policy discounts are applied.
Auto insurance policy discounts for Honda Accord insurance in Las Cruces
Insurance can be prohibitively expensive, but there could be available discounts that can help lower your rates. A few discounts will be applied when you get a quote, but a few must be manually applied before being credited.
- Distant Student Discount - Children living away from Las Cruces attending college and won't have access to an insured vehicle could qualify for this discount.
- Good Students Pay Less - Excelling in school may save you up to 25%. Many companies even apply the discount to college students up until you turn 25.
- Multiple Vehicles - Drivers who insure primary and secondary vehicles with the same company can reduce rates for all insured vehicles.
- ABS and Traction Control Discounts - Cars and trucks with ABS and/or traction control can stop better under adverse conditions so companies give up to a 10% discount.
- Own a Home - Owning a home in Las Cruces can earn you a little savings because of the fact that having a home means you have a higher level of financial diligence.
- Seat Belt Discounts - Drivers who always wear seat belts and also require passengers to buckle up before driving can save up to 10 percent (depending on the company) on the premium charged for medical payments and/or PIP.
- Accident Waiver - Not really a discount, but some insurance companies may permit one accident before your rates go up if you are claim-free for a specific time period.
- Early Renewal Discounts - Some larger companies give discounts for switching companies prior to the expiration date on your current Accord insurance policy. It's a savings of about 10%.
While discounts sound great, it's important to understand that most discounts do not apply to the overall cost of the policy. Most only apply to the cost of specific coverages such as physical damage coverage or medical payments. Even though the math looks like adding up those discounts means a free policy, it's just not the way it works.
Large auto insurance companies and their offered discounts are included below.
- State Farm includes discounts for Drive Safe & Save, safe vehicle, good student, good driver, and multiple policy.
- Farmers Insurance may include discounts for distant student, good student, electronic funds transfer, youthful driver, early shopping, multi-car, and teen driver.
- Progressive offers discounts for multi-vehicle, multi-policy, online signing, online quote discount, good student, and continuous coverage.
- GEICO discounts include anti-lock brakes, membership and employees, seat belt use, multi-policy, and anti-theft.
- Auto-Owners Insurance policyholders can earn discounts including anti-theft, mature driver, paperless, company car, paid in full, and air bags.
- The Hartford offers discounts including anti-theft, vehicle fuel type, bundle, air bag, driver training, and good student.
- Farm Bureau has savings for 55 and retired, multi-policy, good student, renewal discount, youthful driver, driver training, and multi-vehicle.
- USAA may have discounts that include good student, vehicle storage, defensive driver, family discount, new vehicle, driver training, and safe driver.
It's a good idea to ask each insurance company which discounts can lower your rates. Some discounts listed above may not apply to policies in Las Cruces.
Six factors that impact insurance costs
Lots of things are part of the equation when you quote your car insurance policy. Some factors are common sense like your driving record, but other criteria are more obscure such as your marital status or how financially stable you are.
Keep the miles off and save - The more miles you rack up on your Honda annually the more you'll pay to insure it. Almost all companies charge to insure your cars based on how the vehicle is used. Cars that sit idle most of the time receive better premium rates than those used for commuting. An incorrectly rated Accord can result in significantly higher rates. Double check that your auto insurance declarations sheet reflects the correct usage for each vehicle.
Deter car thieves - Buying a car with a theft deterrent system can get you a discount on your auto insurance. Theft deterrent systems such as GM's OnStar, tamper alarm systems and vehicle immobilizers can thwart car theft.
Consolidate policies and save - The majority of insurance companies allow discounts to policyholders that have more than one policy, otherwise known as a multi-policy discount. Even though this discount sounds good, consumers should still compare other company rates to make sure you are getting the best deal.
Safety ratings are a factor - Safer cars get lower rates. The safest vehicles reduce injuries and lower injury rates means less claims paid and thus lower rates. If your Honda Accord is rated at a minimum four stars on Safercar.gov or an "acceptable" rating on iihs.org it is probably cheaper to insure.
Liability insurance is cheap - The liability section of your policy kicks in when you are determined to be liable for physical damage or personal injury to other. It will provide legal defense which can cost a lot. Liability insurance is quite affordable compared to physical damage coverage, so drivers should carry high limits.
High premiums for teenage drivers - Drivers with little experience are statistically proven to be inattentive and easily distracted when driving so auto insurance rates are higher. Parents adding a teenage driver to your auto insurance policy will cause a huge premium hike. Mature drivers are viewed as being more responsible, are lower risk to insure, and receive fewer citations.
Insurance loss data for a Honda Accord - Insurers take into consideration insurance loss statistics for every vehicle to determine a rate that will be profitable for them. Models that have higher loss trends will be charged more to insure.
The data below shows the actual insurance loss data for Honda Accord vehicles. For each coverage category, the claim amount for all vehicles averaged together is a value of 100. Values that are below 100 indicate better than average losses, while numbers above 100 indicate higher probability of having a loss or a tendency for claims to be larger.
Honda Accord Insurance Claim Statistics
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|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
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Exclusive versus independent insurance agencies
Some consumers just want to visit with an insurance agent and that can be a great decision Good insurance agents will help you protect your assets and help in the event of a claim. A nice benefit of getting online price quotes is you can get the lowest rates but also keep your business local. Buying from and supporting neighborhood agents is still important in Las Cruces.
After filling out this simple form, your coverage information is emailed to agents in your area that can provide free Las Cruces auto insurance quotes to get your business. You never need to leave your house because quoted prices will be sent straight to your inbox. If you have a need to get a comparison quote from a particular provider, you would need to go to their quote page and give them your coverage information.
Finding the right provider shouldn't rely on just a low price. The following questions are important to ask.
- What insurance companies do they recommend if they are an independent agent?
- When do they do policy reviews?
- Is the quote a firm price?
- Is vehicle mileage a factor when determining depreciation for repairs?
- What are the financial ratings for the companies they represent?
After receiving good answers to your questions and an affordable coverage quote, it's possible that you found an insurance company that can be relied on to properly insure your vehicles. Just remember you are entitled to cancel your coverage at any time so don't assume you're contractually obligated to the car insurance policy for the full term.
Don't be fooled by advertising claims
Consumers can't get away from all the ads that promise big savings from the likes of 21st Century, Allstate and State Farm. They all say the same thing that drivers will save a bundle just by moving your coverage.
How does every insurance company make the same claim? This is the way they can do it.
Insurance companies have strict underwriting profiles for the right customer that will not have excessive claims. For example, a driver they prefer could possibly be between 25 and 40, has other policies, and has a high credit rating. Anyone who meets those qualifications will qualify for the lowest prices in Las Cruces and is almost guaranteed to cut their rates substantially.
Insureds who do not match this stringent profile may be required to pay a more expensive rate and this can result in business not being written. Company advertisements say "drivers who switch" not "everyone who quotes" save that kind of money. This is how companies can advertise the way they do.
This really emphasizes why drivers should quote coverage with many companies. Because without a comparison, you cannot know which company will have the lowest rate quotes.
Quote more to save more
We've covered a lot of techniques to shop for Honda Accord insurance online. The key concept to understand is the more rate comparisons you have, the better your chances of lowering your auto insurance rates. You may even be surprised to find that the lowest rates are with a company that doesn't do a lot of advertising. Regional companies may often insure only within specific states and give getter rates compared to the large companies like State Farm and Allstate.
The cheapest Honda Accord insurance in Las Cruces is attainable online as well as from insurance agents, and you need to comparison shop both to have the best chance of lowering rates. Some car insurance companies may not offer online price quotes and these small, regional companies provide coverage only through independent agents.
As you shop your coverage around, never buy poor coverage just to save money. There have been many situations where someone sacrificed comprehensive coverage or liability limits to discover at claim time that saving that couple of dollars actually costed them tens of thousands. Your aim should be to find the BEST coverage for the lowest cost, but do not sacrifice coverage to save money.
More tips and info about car insurance can be found by following these links:
- Understanding your Policy (NAIC.org)
- What is the Cheapest Car Insurance in Las Vegas, New Mexico? (FAQ)
- Who Has the Cheapest New Mexico Auto Insurance Rates for Real Estate Agents? (FAQ)
- Who Has Affordable Auto Insurance for Good Drivers in New Mexico? (FAQ)
- What Auto Insurance is Cheapest in Silver City, New Mexico? (FAQ)
- What Insurance is Cheapest for High Risk Drivers in New Mexico? (FAQ)
- Choosing an Insurance Company (Insurance Information Institute)
- What are my Rights when Filing a Claim? (Insurance Information Institute)
- Information for Teen Drivers (GEICO)