Cheapest Honda Insight Insurance in Riverside

Discount Honda Insight insuranceIt’s a known fact that insurance companies don’t want you to look for cheaper rates. Insureds who compare rates at least once a year are inclined to move their business because they stand a good chance of finding lower prices. A study showed that drivers who compared price quotes annually saved about $3,400 over four years compared to people who never compared other company’s rates.

If finding the most affordable car insurance in Riverside is your ultimate goal, then having a good understanding the best ways to shop for insurance coverage can make it easier for you to save money.

If you want to save the most money, the best way to get cheaper auto insurance rates in Riverside is to do a yearly price comparison from insurers who sell insurance in California. This can be done by completing these steps.

One important bit of advice is to use similar limits and deductibles on every quote request and to quote with as many auto insurance providers as possible. Doing this ensures an apples-to-apples comparison and the best price quote selection.

The purpose of this article is to introduce you to how auto insurance companies operate and some money-saving tips. If you are already insured, you stand a good chance to be able to reduce premiums using these tips. Although California consumers must learn how the larger insurance companies set your policy premium because it can help you find the best coverage.

Just remember that obtaining a wide range of quotes helps you find the best price.

The companies shown below have been selected to offer free rate quotes in California. If multiple companies are listed, it’s a good idea that you visit two to three different companies to get a more complete price comparison.

Honda Insight insurance rates and statistics

The rate table displayed next outlines estimates of insurance policy prices for Honda Insight models. Learning as much as possible about how insurance premiums are established can help you make decisions on the best policy to buy.

Honda Insight Insurance Rates in Riverside, CA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $284 $672 $500 $30 $150 $1,636 $136
Insight EX $326 $792 $500 $30 $150 $1,798 $150
Get Your Own Custom Quote Go

Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and California minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Prices do not factor in specific garaging location which can revise insurance rates greatly.

Analysis of deductible levels

When buying car insurance, a common question is which deductible level should you buy. The rates shown below help summarize how much more rates are when you buy lower versus higher physical damage deductibles. The first set of rates uses a $100 physical damage deductible and the second set of prices uses a $1,000 deductible.

Honda Insight insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $332 $686 $442 $26 $132 $1,643 $137
Insight EX $380 $810 $442 $26 $132 $1,815 $151
Get Your Own Custom Quote Go

Honda Insight insurance policy rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $184 $362 $442 $26 $132 $1,146 $96
Insight EX $210 $426 $442 $26 $132 $1,236 $103
Get Your Own Custom Quote Go

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and California minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, safe-driver, and homeowner. Rate information does not factor in specific location information which can influence coverage prices noticeably.

Based on the figures above, using a $100 deductible costs approximately $44 more each month or $528 annually than buying the higher $1,000 deductible. Because you would be required to pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you have at least 20 months between claim filings, you would save money if you elect the higher deductible.

Do you need full coverage?

The information below illustrates the comparison of Honda Insight car insurance rates with full coverage and liability only. The prices are based on a clean driving record, no at-fault accidents, $250 deductibles, drivers are not married, and no additional discounts are factored in.

When to stop paying for full coverage

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 of comp and collision coverage is more than 10% of the settlement you would receive from your company, then you might want to consider buying only liability coverage.

For example, let’s pretend your Honda Insight settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $5,000 after paying your deductible. If you are paying more than $500 a year for physical damage coverage, then you may need to consider dropping full coverage.

There are some cases where buying only liability insurance is not advised. If you still have a lienholder on your title, you have to carry full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.

Car insurance is not optional

Even though it can be expensive, paying for car insurance serves a purpose in several ways.

The benefits of having insurance definitely exceed the cost, especially for larger claims. The average driver in California is overpaying more than $855 a year so you should quote your policy with other companies at least once a year to make sure the price is not too high.

Car insurance coverage information

Knowing the specifics of your insurance policy can help you determine which coverages you need at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and reading a policy is terribly boring.

Uninsured or underinsured coverage – This coverage provides protection when the “other guys” are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries as well as your vehicle’s damage.

Since many California drivers only carry the minimum required liability limits (15/30/5 in California), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Most of the time these coverages are similar to your liability insurance amounts.

Comprehensive protection – Comprehensive insurance coverage covers damage OTHER than collision with another vehicle or object. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things such as damage from flooding, falling objects, a tree branch falling on your vehicle, theft and damage from getting keyed. The highest amount you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Medical expense coverage – Personal Injury Protection (PIP) and medical payments coverage pay for bills for things like surgery, funeral costs, doctor visits, EMT expenses and ambulance fees. They can be used to fill the gap from your health insurance plan or if you lack health insurance entirely. Coverage applies to you and your occupants and will also cover if you are hit as a while walking down the street. Personal injury protection coverage is not available in all states and gives slightly broader coverage than med pay

Collision coverage – Collision coverage pays to fix your vehicle from damage caused by collision with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage protects against things such as backing into a parked car, hitting a parking meter and damaging your car on a curb. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. You can also bump up the deductible on your Insight in order to get cheaper collision rates.

Liability coverages – Liability coverage protects you from damage that occurs to other’s property or people. It protects you against other people’s claims. Liability doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 15/30/5 that means you have $15,000 in coverage for each person’s injuries, $30,000 for the entire accident, and a total limit of $5,000 for damage to vehicles and property. Occasionally you may see a combined single limit or CSL which provides one coverage limit and claims can be made without the split limit restrictions.

Liability can pay for claims such as emergency aid, legal defense fees, medical services and repair bills for other people’s vehicles. The amount of liability coverage you purchase is your choice, but consider buying as high a limit as you can afford. California requires drivers to carry at least 15/30/5 but drivers should carry more coverage.

The next chart demonstrates why low liability limits may not be enough.

Quote more to save more

As you quote Riverside car insurance, it’s a bad idea to sacrifice coverage to reduce premiums. In many cases, an insured dropped collision coverage only to discover later that their decision to reduce coverage ended up costing them more. Your goal should be to get the best coverage possible at the best cost while not skimping on critical coverages.

Budget-conscious Honda Insight insurance can be purchased on the web and from local insurance agents, and you should compare rates from both to get a complete price analysis. Some companies don’t offer online price quotes and usually these small, regional companies only sell coverage through local independent agencies.

In this article, we presented a lot of information how to get a better price on Honda Insight insurance in Riverside. The key thing to remember is the more companies you get rates for, the more likely it is that you will get a better rate. Drivers may even discover the lowest prices are with a small local company.

To read more, take a look at the resources below: