2001 Honda Insight Car Insurance Cost – 8 Tricks for Best Prices

There isn’t a single person who gets a kick out of paying for insurance, especially knowing the cost is way too high. Companies like GEICO, Farmers Insurance and State Farm persitently shower you with TV and radio ads and it can be hard to separate fact from fiction and take the time to shop coverage around.

It’s smart to do price comparisons on a regular basis because prices are adjusted regularly by insurance companies. Despite the fact that you may have had the lowest price on Insight coverage last year other companies may now be cheaper. Ignore everything you know about insurance because you’re going to get a crash course in the easiest way to remove unneeded coverages and save money.

Compare quotes for car insurance

There are several ways you can shop for car insurance but there is one way that is less labor-intensive and much quicker. You can waste hours talking to insurance companies in your area, or you could save time and use online quotes for quick rates.

Many insurance companies take part in a program where prospective buyers enter their coverage request one time, and every company returns a competitive quote based on that information. This eliminates the need for quote requests for each company. To find out what other companies charge click here (opens in new window).

The one disadvantage to comparing rates this way is you cannot specify the providers you want pricing from. If you prefer to choose specific insurance companies to compare, we have a listing of car insurance companies in your area. Click to view list.

Compare rates however you want, just make sure you use equivalent quote information on every price quote you get. If your comparisons have different coverage information it’s impossible to make a fair rate comparison.

Save 15 percent in 15 minutes? Is it for real?

Consumers constantly see and hear ads that claim the best car insurance rates from the likes of Progressive, Allstate and GEICO. They all tend to make the same promise that drivers will save a bundle after switching your policy.

How is it possible that every company can sell you cheaper insurance coverage?

Most companies have underwriting criteria for the right customer they prefer to insure. One example of a driver they prefer may need to be between the ages of 40 and 55, has other policies, and drives a car with an anti-theft system. Anyone who matches that profile will get low prices and will probably cut their rates if they switch.

Consumers who do not match these criteria will probably have to pay higher premium rates and this results in business not being written. The ad wording is “drivers who switch” but not “all drivers who get quotes” save that much. That is how companies can truthfully make those claims.

Because of the profiling, you really need to get a wide range of price quotes. Because you never know with any certainty which company will give you the biggest savings.

Find hidden discounts on auto insurance

Auto insurance companies don’t necessarily list all possible discounts in a way that’s easy to find, so the below list has some of the best known as well as some of the hidden credits available to you.

  • College Student Discount – Youth drivers who are enrolled in higher education away from home and leave their car at home can be insured at a reduced rate.
  • 55 and Retired – Mature drivers may qualify for reduced rates on Insight coverage.
  • Drive Less and Save – Keeping the miles down on your Honda could be rewarded with substantially lower rates.
  • Multi-Vehicle Discounts – Insuring multiple vehicles on one policy can reduce rates for all insured vehicles.
  • Accident Forgiveness – Not necessarily a discount, but a few companies such as Liberty Mutual, Allstate and State Farm will allow you to have one accident without the usual rate increase if you have no claims before the accident.
  • Military Discounts – Being on active deployment in the military could be rewarded with lower premium rates.
  • ABS Braking Discount – Vehicles that have steering control and anti-lock brakes have fewer accidents and earn discounts up to 10%.
  • Discount for Multiple Policies – If you insure your home and vehicles with the same insurance company they may give you a discount of as much as 10 to 15 percent.

As a footnote on discounts, many deductions do not apply the the whole policy. Some only apply to individual premiums such as liability and collision coverage. So even though they make it sound like it’s possible to get free car insurance, company stockholders wouldn’t be very happy. Any qualifying discounts should definitely cut your premiums.

A few popular companies and their offered discounts are:

  • Farm Bureau offers premium reductions for safe driver, good student, driver training, renewal discount, multi-policy, youthful driver, and multi-vehicle.
  • State Farm policyholders can earn discounts including passive restraint, student away at school, safe vehicle, driver’s education, and anti-theft.
  • Progressive has discounts for continuous coverage, good student, online quote discount, online signing, homeowner, multi-policy, and multi-vehicle.
  • Allstate may include discounts for teenSMART discount, economy car, anti-lock brakes, senior citizen, good student, and early signing.
  • Nationwide may offer discounts for family plan, multi-policy, anti-theft, easy pay, business or organization, defensive driving, and good student.
  • MetLife offers discounts including defensive driver, good driver, claim-free, accident-free, multi-policy, good student

When quoting, ask each company or agent how many discounts you can get. A few discounts may not be offered everywhere. To find providers who offer online auto insurance quotes, click here to view.

Tailor your car insurance coverage to you

When it comes to buying coverage, there is no one size fits all plan. Every situation is different and a cookie cutter policy won’t apply. For instance, these questions may help highlight whether your personal situation might need professional guidance.

  • Can I get a multi-policy discount?
  • Can I still get insurance after a DUI?
  • Do I need PIP coverage since I have good health insurance?
  • How much can I save by bundling my policies?
  • Are my friends covered when driving my car?
  • Do I really need UM/UIM coverage?
  • What companies insure drivers after a DUI or DWI?
  • I have health insurance so do I need medical payments coverage?
  • How can I find cheaper teen driver insurance?
  • Do I have coverage when pulling a U-Haul trailer?

If it’s difficult to answer those questions then you might want to talk to a licensed agent. If you want to speak to an agent in your area, fill out this quick form or you can also visit this page to select a carrier It is quick, free and you can get the answers you need.

The coverage is in the details

Having a good grasp of your car insurance policy can help you determine the best coverages and proper limits and deductibles. Car insurance terms can be impossible to understand and even agents have difficulty translating policy wording. Shown next are typical coverage types available from car insurance companies.

Uninsured or underinsured coverage

Your UM/UIM coverage gives you protection from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include medical payments for you and your occupants as well as damage to your Honda Insight.

Since a lot of drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important. Most of the time these limits are similar to your liability insurance amounts.

Comprehensive protection

Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage protects against claims such as theft, falling objects, hail damage and hitting a bird. The highest amount a car insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses for things like nursing services, hospital visits, doctor visits, ambulance fees and X-ray expenses. They are used to fill the gap from your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as being hit by a car walking across the street. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage

Auto collision coverage

This pays for damage to your Insight resulting from a collision with an object or car. A deductible applies and then insurance will cover the remainder.

Collision coverage pays for claims like colliding with a tree, colliding with another moving vehicle, driving through your garage door and rolling your car. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. You can also bump up the deductible to bring the cost down.

Liability coverages

This coverage provides protection from injuries or damage you cause to people or other property. It protects YOU against other people’s claims. Liability doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 100/300/100 that translate to $100,000 bodily injury coverage, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property. Another option is a combined single limit or CSL that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability coverage protects against claims such as medical expenses, structural damage and emergency aid. The amount of liability coverage you purchase is up to you, but buy as high a limit as you can afford.

A tidy conclusion

We just showed you quite a bit of information on how to lower your 2001 Honda Insight insurance prices. It’s most important to understand that the more times you quote, the higher your chance of finding the cheapest insurance. You may even discover the best prices are with some of the smallest insurance companies. They can often provide lower rates in certain areas as compared to the big name companies such as State Farm, GEICO and Nationwide.

As you prepare to switch companies, it’s not a good idea to buy less coverage just to save a little money. Too many times, consumers will sacrifice full coverage only to discover later they didn’t purchase enough coverage. The aim is to get the best coverage possible at the lowest possible cost.

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