Save on Honda Odyssey Insurance in Riverside

Do you need a fast way to compare the cheapest Honda Odyssey insurance in Riverside? No sane person likes paying for auto insurance, especially when they are aware that their premiums are too high.

It’s an obvious assumption that car insurance companies don’t want policyholders to shop around. Insureds who shop around will probably buy a different policy because there is a good chance of finding better rates. A recent auto insurance study discovered that drivers who regularly shopped around saved on average $865 annually compared to policyholders who never shopped for cheaper rates.

If finding the cheapest rates on Honda Odyssey insurance is your ultimate goal, then having some insight into the best way to quote and compare insurance premiums can help make the process easier.

Since you have so many choices for buying cheaper insurance for a Honda Odyssey in Riverside, it’s nearly impossible to locate the cheapest insurance company.

Honda Odyssey coverage statistics

The table below outlines a range of prices for Honda Odyssey models. Having insight into how policy rates are established can help you make decisions on the best policy to buy.

Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and California minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Table data does not factor in the specific area where the vehicle is garaged which can lower or raise premium rates significantly.

Physical damage deductible comparison

One of the hardest decisions when shopping for insurance is how high or low should comp and collision deductibles be. The figures shown below may help to conceptualize the rate differences between high and low coverage deductibles. The first table uses a $250 deductible and the second rate table uses a $1,000 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, multi-vehicle, and safe-driver. Price information does not factor in garaging location in Riverside which can revise coverage prices substantially.

Based on these figures, using a $250 deductible costs an average of $32 more each month or $384 for a full year than quoting the higher $1,000 deductible. Since you would pay $750 more to file a claim with a $1,000 deductible as compared to a $250 deductible, if you usually have at least 23 months between claim filings, you would save more money by selecting a higher deductible.

The example below shows how choosing a deductible and can influence Honda Odyssey annual premium costs for different age groups. The premiums are based on a single female driver, full coverage, and no discounts are taken into consideration.

Should you buy full coverage?

The diagram below shows the comparison of Honda Odyssey annual premium costs with liability coverage only compared to full coverage. The prices are based on a clean driving record, no claims, $1,000 deductibles, single marital status, and no additional discounts are factored in.

When to drop full coverage

There is no specific rule to delete full coverage on your policy, but there is a general guideline. If the annual cost of having full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you might want to think about dropping full coverage.

For example, let’s say your Honda Odyssey claim settlement value is $9,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $8,000 after the deductible is paid. If you are paying more than $800 a year for full coverage, then it could be time to drop full coverage.

There are some situations where dropping full coverage is not a good plan. If you still have a lienholder on your title, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not eliminate full coverage.

Reduce Insurance Rates with These Tips

Lots of things are taken into consideration when pricing auto insurance. Some factors are common sense like an MVR report, but other factors are not quite as obvious like your vehicle usage or your vehicle rating. When buying car insurance it’s important to understand the different types of things that play a part in calculating your policy premiums. When you understand what determines base rates, this allows you to make good choices that could result in lower car insurance prices.

• Too many claims drive up car insurance rates – If you file a lot of claims you can definitely plan on higher rates. Insurance companies in California give the best rates to drivers who are claim-free. Auto insurance is intended to be relied upon for major claims that would cause financial hardship.
• Big cities have higher costs – Being located in a small town has it’s advantages when talking about car insurance. Fewer people corresponds to lower accident rates and lower theft and vandalism rates. People in densely populated areas have congested traffic and longer commute times. More time behind the wheel translates into higher accident risk.
• Prices impacted by vehicle usage – The more you drive in a year the more you’ll pay to insure it. Almost all companies apply a rate based upon how much you drive. Autos not used for work or commuting qualify for better rates than vehicles that are driven to work every day. Ask your agent if your car insurance coverage is showing the proper vehicle usage, because it can save money. Improper usage on your Odyssey is throwing money out the window.
• Lower physical damage deductibles cost more – Physical damage coverage, also called comprehensive and collision insurance, helps pay for damage to your vehicle. Some examples of covered claims would be a windshield shattered by a rock, flood damage, and damage caused by flying debris. Physical damage deductibles define the amount the insured will be required to pay before a claim is paid by your company. The higher the amount the insured has to pay upfront, the lower your rates will be.

• Honda Odyssey historical loss data – Insurance companies use statistical claims data to help determine rates. Vehicles that the data determines to have higher loss trends will cost more for coverage. The next table shows the insurance loss data for Honda Odyssey vehicles.

  For each type of coverage, the statistical loss for all vehicles averaged together is represented as 100. Numbers shown that are under 100 indicate better than average losses, while values that are above 100 point to more frequent losses or an increased likelihood of larger losses.

  
  

  Car Insurance Loss Data for Honda Odyssey Models

  Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Honda Odyssey	78	83	75	82	78	71

  BETTER

  AVERAGE

  WORSE

  Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

In conclusion

You just read quite a bit of information on how to shop for Honda Odyssey insurance online. The key thing to remember is the more companies you get prices for, the better your comparison will be. Consumers may even find the lowest priced auto insurance comes from the least-expected company. Smaller companies can often insure niche markets at a lower cost compared to the large companies like State Farm or Progressive.

When you buy Riverside auto insurance online, it’s a bad idea to buy lower coverage limits just to save a few bucks. There are many occasions where someone dropped uninsured motorist or liability limits and learned later that their decision to reduce coverage ended up costing them more. The proper strategy is to buy the best coverage you can find for the lowest cost, but don’t skip important coverages to save money.

Steps to finding lower priced Honda Odyssey insurance in Riverside

The easiest way to find affordable Honda Odyssey insurance is to start comparing prices yearly from different companies in Riverside.

• First, try to learn about auto insurance and the factors you can control to prevent high rates. Many rating factors that cause high rates like accidents, traffic violations, and a not-so-good credit rating can be rectified by making minor changes in your lifestyle.
• Second, compare prices from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can give quotes from a single company like Progressive or Farmers Insurance, while independent agencies can give you price quotes for many different companies.
• Third, compare the new rate quotes to your existing policy to see if cheaper Odyssey coverage is available in Riverside. If you can save some money and make a switch, verify that coverage does not lapse between policies.
• Fourth, give notification to your current company of your decision to cancel your existing policy and submit a completed policy application and payment to your new carrier. As soon as you have the new policy, put the new proof of insurance paperwork in your vehicle.

An essential thing to point out is to try to use the same liability limits and deductibles on every quote and and to get price quotes from every insurance company. Doing this guarantees a fair price comparison and the best rate selection.

More detailed auto insurance information can be found by following these links:

• Choosing an Insurance Company (Insurance Information Institute)
• What Auto Insurance is Cheapest for a Jeep Grand Cherokee in Riverside? (FAQ)
• How Much is Auto Insurance for 4×4 Vehicles in Riverside? (FAQ)
• Who Has Affordable Riverside Auto Insurance Quotes for a 20 Year Old Female? (FAQ)
• Who Has Affordable Auto Insurance for Unemployed Drivers in Riverside? (FAQ)
• Distracted Driving Statistics (Insurance Information Institute)
• Keeping Children Safe in Crashes Video (iihs.org)
• Comprehensive Coverage (Liberty Mutual)