2003 Honda Insight Car Insurance Rates

Trying to find the cheapest insurance coverage rates for your Honda Insight? Are you at wits end from sacrificing other expenses to buy insurance coverage? Your situation is no different than millions of other consumers.

Due to the fact that there are so many choices of insurance companies, it’s nearly impossible to find the best insurance company.

It’s a great practice to do rate comparisons at least once a year due to the fact that insurance rates change quite often. If you had the lowest premium rates on Insight coverage a couple years back you can probably find a better price now. You can search a lot of insurance coverage online, but by reading this article, you’re going to learn a lot of great tips on how to put money back in your pocket.

The purpose of this post is to introduce you to the best way to quote coverages. If you currently have a car insurance policy, you will be able to lower your premiums substantially using these tips. But drivers do need to understand how insurance companies market insurance on the web.

Six factors that influence insurance premiums

A large part of saving on auto insurance is knowing some of the elements that aid in calculating your premiums. When you understand what impacts premium levels, this enables you to make decisions that can earn you lower auto insurance prices.

  • Never let your auto insurance policy lapse – Having a gap between insurance policy dates is a fast way to increase your renewal premiums. Not only will rates go up, the inability to provide proof of insurance could earn you a revoked license or a big fine.
  • What’s your car’s safety rating? – Vehicles that have high safety ratings tend to be cheaper to insure. Safe vehicles reduce injuries and reduced instances of injuries means your insurance company pays less which can result in lower premiums. If your Honda Insight is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website you may pay a lower rate.
  • Combine home and auto and save – Most insurance companies afford discounts to people that have more than one policy in the form of a multi-policy discount. Even if you already get this discount, it’s always a smart idea to get quotes from other companies to ensure the best deal. It’s possible to still find lower rates by buying auto insurance from a different company.
  • Your car’s features help determine rates – Buying a car that has an advanced theft prevention system can get you a discount on your auto insurance. Theft prevention features such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all hinder auto theft.
  • How much liability coverage – Liability insurance provides coverage if you are responsible for damages from an accident. Your liability coverage provides for a legal defense starting from day one. Liability insurance is pretty cheap compared to comp and collision, so drivers should carry high limits.
  • High comp and collision deductibles save money – The deductibles define how much you are required to spend before your auto insurance pays a claim. Physical damage protection, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Some examples of claims that would be covered could be rearending another vehicle, vandalism, or theft of your vehicle. The more damage repair cost you’re willing to pay, the better rate you will receive on Insight coverage.

Are you qualifying for every discount?

Companies that sell car insurance do not advertise every discount very well, so the following is a list of some of the best known and the harder-to-find car insurance savings.

  • Good Student Discount – Getting good grades can get you a discount of up to 25%. Many companies even apply the discount to college students until age 25.
  • Student in College – College-age children who are enrolled in a college that is more than 100 miles from home and won’t have access to an insured vehicle could qualify for this discount.
  • Discount for Low Mileage – Driving fewer miles may enable drivers to earn better car insurancerates on cars that stay parked.
  • Drivers Ed for Students – It’s a good idea to have your young drivers enroll in driver’s education as it can save substantially.
  • Safety Course Discount – Passing a driver safety class may get you a small discount and make you a better driver.
  • E-sign – A few larger online companies provide a small discount shop car insurance digitally online.
  • Homeowners Pay Less – Being a homeowner can earn you a little savings because of the fact that having a home shows financial diligence.
  • Multi-car Discount – Insuring several vehicles on the same car insurance policy can get a discount for every vehicle.
  • Anti-lock Brake Discount – Vehicles equipped with ABS or steering control can stop better under adverse conditions so companies give up to a 10% discount.
  • Pay Early and Save – If you pay your entire premium ahead of time rather than paying in monthly installments you could save up to 5%.

Just know that some credits don’t apply to the overall cost of the policy. Some only apply to the price of certain insurance coverages like liability, collision or medical payments. Despite the appearance that adding up those discounts means a free policy, it just doesn’t work that way. But all discounts should help lower your policy premiums.

Some of the insurance companies that have these benefits possibly include:

Before purchasing a policy, check with all the companies which discounts you may be entitled to. Some of the earlier mentioned discounts might not be available to policyholders in every state. To see providers that have a full spectrum of discounts, follow this link.

Beware of misleading insurance coverage ads

Big name companies like Allstate and Progressive regularly use ads on television and other media. All the ads have a common claim that you can save if you change your policy. It sounds good, but how can they all make almost identical claims? It’s all in the words they use.

All the different companies have specific characteristics for the driver that will generate a profit. An example of this type of driver could possibly be between the ages of 30 and 50, has no claims, and chooses high deductibles. Any new insured who fits that profile receives the best rates and will cut their rates if they switch.

Drivers who do not match the requirements will see higher rates and ends up with the driver buying from a lower-cost company. The ads state “drivers that switch” but not “everyone who gets a quote” save money. That’s the way companies can advertise the way they do.

This emphasizes why you should compare many company’s prices. Because you cannot predict which company will have the lowest rate quotes.

When in doubt talk to an agent

When choosing adequate coverage for your vehicles, there is no cookie cutter policy. Your needs are not the same as everyone else’s so your insurance should reflect that These are some specific questions can aid in determining whether or not you may require specific advice.

  • Can I get a multi-policy discount?
  • Does my policy cover me when driving someone else’s vehicle?
  • Am I covered by my spouse’s policy after a separation?
  • I have health insurance so do I need medical payments coverage?
  • What is the difference between comprehensive and collision coverage?
  • If my 2003 Honda Insight is totaled, can I afford another vehicle?
  • Can I afford to pay high deductible claims out of pocket?
  • Is my Honda Insight covered if I use it for business?

If you can’t answer these questions but a few of them apply, you might consider talking to an insurance agent. To find lower rates from a local agent, take a second and complete this form or go to this page to view a list of companies.

Auto insurance specifics

Having a good grasp of auto insurance can be of help when determining appropriate coverage and the correct deductibles and limits. Auto insurance terms can be difficult to understand and nobody wants to actually read their policy. Shown next are typical coverage types found on the average auto insurance policy.

Coverage for medical payments – Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses like rehabilitation expenses, nursing services, dental work and X-ray expenses. The coverages can be used to cover expenses not covered by your health insurance program or if there is no health insurance coverage. It covers all vehicle occupants in addition to if you are hit as a while walking down the street. PIP coverage is not available in all states but can be used in place of medical payments coverage

Comprehensive coverages – Comprehensive insurance covers damage OTHER than collision with another vehicle or object. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things such as vandalism, a tree branch falling on your vehicle and hitting a bird. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.

Liability coverages – This coverage protects you from damages or injuries you inflict on other people or property. This coverage protects you against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have limits of 100/300/100 which means $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property. Some companies may use a combined limit which provides one coverage limit and claims can be made without the split limit restrictions.

Liability coverage protects against claims such as funeral expenses, legal defense fees and emergency aid. The amount of liability coverage you purchase is your choice, but it’s cheap coverage so purchase higher limits if possible.

Collision coverage – This covers damage to your Insight from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things such as driving through your garage door, scraping a guard rail and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. It’s also possible to increase the deductible to save money on collision insurance.

Uninsured and underinsured coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle from other drivers when they do not carry enough liability coverage. Covered claims include hospital bills for your injuries and damage to your 2003 Honda Insight.

Due to the fact that many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea. Usually the UM/UIM limits are identical to your policy’s liability coverage.

Pennies from heaven

We covered some good ideas how to get a better price on 2003 Honda Insight insurance. The most important thing to understand is the more times you quote, the better likelihood of getting the cheapest car insurance. Consumers could even find that the biggest savings come from a small local company. They may have significantly lower premium rates on certain market segments compared to the large companies like Allstate, GEICO and Progressive.

When you buy car insurance online, it’s a bad idea to sacrifice coverage to reduce premiums. In many instances, an insured dropped liability coverage limits only to find out that the few dollars in savings costed them thousands. The goal is to get the best coverage possible at the best cost, but do not skimp to save money.

More detailed insurance coverage information can be read by following these links: