If you want to save money, the best way to get budget Honda Element insurance in Virginia Beach is to begin comparing prices regularly from providers who sell insurance in Virginia. Rates can be compared by following these steps.
- First, read and learn about car insurance and the modifications you can make to prevent expensive coverage. Many things that drive up the price such as traffic tickets, fender benders, and a less-than-favorable credit history can be remedied by improving your driving habits or financial responsibility. Later in this article we will cover instructions to find cheap prices and find additional discounts you may qualify for.
- Second, request rate estimates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give prices from a single company like Progressive or Farmers Insurance, while independent agents can quote rates for many different companies.
- Third, compare the new rates to your current policy premium to see if you can save by switching companies. If you can save money and decide to switch, make sure coverage is continuous and does not lapse.
An important bit of advice to remember is to make sure you’re comparing similar limits and deductibles on every quote request and and to look at as many companies as feasibly possible. This ensures the most accurate price comparison and the most accurate and complete price analysis.
Shockingly, a large majority of drivers have bought auto insurance from the same company for over three years, and 38% of drivers have never compared quotes from other companies. Drivers in Virginia Beach could save an average of almost 45% each year just by shopping around, but they assume it’s a waste of time to compare rates online.
If you have a policy now or want to find a cheaper company, take advantage of these tips to cut your premiums without reducing coverage. The intent of this article is to teach you how auto insurance companies operate and some tips to save money. Vehicle owners just need to learn the most efficient way to buy car insurance from multiple carriers.
Reducing your insurance rates isn’t really that difficult. All you need to do is invest a little time getting comparison quotes from different insurance companies.
The auto insurance companies shown below are ready to provide price comparisons in Virginia Beach, VA. If multiple companies are listed, we suggest you compare several of them in order to find the most competitive rates.
Honda Element insurance rate analysis
The rate information displayed below outlines estimates of coverage prices for Honda Element models. Having insight into how rates are established can be of help when making informed decisions when shopping around for a new policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Element LX 2WD | $252 | $400 | $338 | $20 | $100 | $1,110 | $93 |
| Element LX 4WD | $252 | $400 | $338 | $20 | $100 | $1,110 | $93 |
| Element EX 2WD | $252 | $400 | $338 | $20 | $100 | $1,110 | $93 |
| Element EX 4WD | $252 | $400 | $338 | $20 | $100 | $1,110 | $93 |
| Element SC 2WD | $252 | $400 | $338 | $20 | $100 | $1,110 | $93 |
| Get Your Own Custom Quote Go | |||||||
Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Virginia minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Rate quotes do not factor in specific location information which can revise coverage prices substantially.
Where to set your deductibles
One of the hardest decisions when shopping for insurance is where should you set your physical damage deductibles. The premium rates below highlight the differences in price between high and low policy deductibles. The first table uses a $100 deductible for comprehensive and collision coverage and the second set of rates uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Element LX 2WD | $222 | $400 | $258 | $16 | $78 | $999 | $83 |
| Element LX 4WD | $222 | $400 | $258 | $16 | $78 | $999 | $83 |
| Element EX 2WD | $222 | $400 | $258 | $16 | $78 | $999 | $83 |
| Element EX 4WD | $222 | $400 | $258 | $16 | $78 | $999 | $83 |
| Element SC 2WD | $222 | $400 | $258 | $16 | $78 | $999 | $83 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Element LX 2WD | $162 | $270 | $258 | $16 | $78 | $784 | $65 |
| Element LX 4WD | $162 | $270 | $258 | $16 | $78 | $784 | $65 |
| Element EX 2WD | $162 | $270 | $258 | $16 | $78 | $784 | $65 |
| Element EX 4WD | $162 | $270 | $258 | $16 | $78 | $784 | $65 |
| Element SC 2WD | $162 | $270 | $258 | $16 | $78 | $784 | $65 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Virginia minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, multi-vehicle, and safe-driver. Rate quotes do not factor in specific Virginia Beach garaging location which can modify premium rates significantly.
Based on these figures, using a $100 deductible will cost you about $18 more each month or $216 annually averaged for all Element models than selecting the higher $500 deductible. Because you would be required to pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you usually have at least 22 months between claim filings, you would save money if you elect the higher deductible.
How to determine when to raise your deductibles
| Average monthly premium for $100 deductibles: | $83 |
| Average monthly premium for $500 deductibles (subtract): | – $65 |
| Monthly savings from raising deductible: | $18 |
| Difference between deductibles ($500 – $100): | $400 |
| Divide difference by monthly savings: | $400 / $18 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 22 months |
One important note is that higher deductibles means you will have to pay more out-of-pocket when you have a claim. You need to make sure you have some available funds in the event you need to pay the deductible.
Impact of citations and accidents on Virginia Beach insurance rates
The diagram below shows how traffic citations and at-fault claims can drive up Honda Element yearly insurance costs for each age group. The price estimates are based on a married male driver, full coverage, $500 deductibles, and no discounts are taken into consideration.
Full coverage rates vs. liability-only
The illustration below compares Honda Element car insurance costs with full coverage compared to only the Virginia minimum liability coverage. The premium estimates are based on no violations or claims, $1,000 deductibles, drivers are not married, and no discounts are taken into consideration.
Should you pay for full coverage?
There is no exact rule to exclude comp and collision coverage, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than around 10% of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.
For example, let’s assume your Honda Element replacement cost is $6,000 and you have $1,000 policy deductibles. If your vehicle is totaled, you would only receive $5,000 after paying the physical damage deductible. If it’s costing you more than $500 a year for full coverage, then you might want to consider buying only liability coverage.
There are some scenarios where dropping full coverage is not financially feasible. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should maintain full coverage.
Auto insurance quotes and discounts
Auto insurance is expensive, but you might be missing out on some discounts to help offset the cost. Some of these discounts will be visible when you purchase, but once in a while a discount must be asked about before they will apply.
- Discount for Multiple Policies – When you have multiple policies and place coverage with the same company you could save nearly 15% which can help you find cheap Element insurance.
- Claim-Free Discount – Drivers with accident-free driving histories can save substantially in comparison with drivers with a long claim history.
- Anti-lock Brake System – Vehicles that have anti-lock braking systems can avoid accidents and qualify for as much as a 10% discount.
- Safety Restraint Discount – Using a seat belt and requiring all passengers to buckle their seat belts could cut 10% or more on the premium charged for medical payments and/or PIP.
- Discounts for Government Workers – Simply working for the federal government could qualify for a slight premium decrease with some auto insurance companies.
- One Accident Forgiven – Not really a discount, but companies like Allstate, State Farm and GEICO permit an accident without getting socked with a rate hike if you have no claims for a set time period.
- Senior Citizen Rates – If you’re over the age of 55, you can possibly qualify for reduced rates.
Discounts save money, but please remember that most discounts do not apply to the entire policy premium. Some only reduce specific coverage prices like liability, collision or medical payments. So when the math indicates it’s possible to get free car insurance, you’re out of luck.
The example below illustrates the difference between Honda Element car insurance costs with and without discounts. The premiums are based on a female driver, no driving violations, no at-fault accidents, Virginia state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, safe-driver, marriage, multi-policy, homeowner, and claim-free discounts applied.
To find auto insurance companies who offer auto insurance discounts in Virginia Beach, follow this link.
Why auto insurance is not optional
Even though Virginia Beach Element insurance rates can get expensive, buying auto insurance is not optional due to several reasons.
First, most states have mandatory insurance requirements which means the state requires a specific level of liability insurance coverage in order to drive the car. In Virginia these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
Second, if you bought your car with a loan, it’s most likely the lender will have a requirement that you buy full coverage to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the lender may insure your Honda at a much higher rate and make you pay much more than you were paying before.
Third, insurance safeguards both your car and your personal assets. Insurance will also pay for many types of medical costs that are the result of an accident. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if anyone sues you for causing an accident. If damage is caused by hail or an accident, your auto insurance policy will cover the damage repairs after a deductible is paid.
The benefits of having insurance outweigh the cost, particularly if you ever have a claim. As of last year, the average driver in Virginia is wasting up to $750 every year so it’s very important to do a rate comparison at every policy renewal to be sure current rates are still competitive.
Ratings for Virginia Beach auto insurance companies
Picking a high-quality car insurance company is difficult considering how many companies provide coverage in Virginia. The ranking information in the next section could help you analyze which auto insurers to look at shopping your coverage with.
Top 10 Virginia Beach Car Insurance Companies Ranked by Value
- Mercury Insurance
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- Erie Insurance
- Esurance
- The General
How to know if you need help
When it comes to coverage online or from an agent for your vehicles, there really isn’t a “best” method to buy coverage. Coverage needs to be tailored to your specific needs.
Here are some questions about coverages that might point out if you would benefit from professional advice.
- What discounts do I qualify for?
- Am I covered while delivering pizza?
- Am I covered if my car is in a flood?
- Is my teenager covered with friends in the car?
- Is my babysitter covered when using my vehicle?
- What is an adequate liability insurance limit?
- I have good health insurance, so how much medical payments coverage do I need?
- Will I lose any money if I cancel my policy before it expires?
- Is my custom paint covered by insurance?
If you don’t know the answers to these questions but you know they apply to you, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, simply complete this short form. It is quick, free and can provide invaluable advice.
Do I need an insurance agency?
Certain consumers would prefer to go talk to an agent and doing that can be a smart decision Professional agents are very good at helping people manage risk and help in the event of a claim. An additional benefit of getting free rate quotes online is you can get the lowest rates but still work with a licensed agent.
After filling out this simple form, the coverage information gets sent to local insurance agents in Virginia Beach that can provide free Virginia Beach car insurance quotes to get your business. You won’t need to visit any agencies because prices are sent instantly to you. If you want to get a price quote from a particular provider, you just need to go to their quote page and submit a quote form there.
Finding the right insurer should depend on more than just the price. A good agent in Virginia Beach will have answers to these questions.
- Are you getting all the discounts the company offers?
- Can you choose the body shop in case repairs are needed?
- How long have they been in business?
- Do they have designations such as AIC, CPCU, or CIC?
- Do they receive special compensation for putting your coverage with one company over another?
- Do they feel the quoted coverages are adequate?
- How many companies do they write for?
Types of auto insurance agents in Virginia Beach
When narrowing the list to find a good Virginia Beach insurance agent, it helps to know the two types of insurance agents and how they differ in how they can insure your vehicles. Insurance agents in Virginia Beach can be described as either independent (non-exclusive) or exclusive. Both can write policy coverage, but it is important to understand the differences because it may have an impact on buying decisions.
Exclusive Agents
Agents of this type can usually just insure with one company and examples are Allstate, Farmers Insurance or State Farm. Exclusive agencies are unable to shop your coverage around so you need to shop around if the rates are high. Exclusive insurance agents are usually well trained on what they offer and that can be a competitive advantage. Some consumers prefer to buy from the same agent for years mostly because of the brand name rather than having the cheapest rates.
The following is a list of exclusive insurance agencies in Virginia Beach that are able to give price quotes.
- GEICO Insurance Agent
4389 Virginia Beach Blvd – Virginia Beach, VA 23462 – (757) 583-2200 – View Map - Rose Goheen – State Farm Insurance Agent
1112 Laskin Rd – Virginia Beach, VA 23451 – (757) 428-8002 – View Map - Allstate Insurance: Richard C. Barbosa, II
4382 Holland Plaza Shopping Ctr, # Ce – Virginia Beach, VA 23452 – (757) 431-0217 – View Map
View more Virginia Beach agents
Independent Insurance Agents
Independent insurance agents are not required to write business for one company and that is an advantage because they can write policies with a variety of different insurance companies and potentially find a lower price. If you are not satisfied with one company, an independent agent can move your coverage and you don’t have to do anything. If you are trying to find cheaper rates, you absolutely need to compare quotes from independent agents for maximum quote selection. Most independent agents also contract with different regional companies that may provide cheaper insurance rates.
The following are Virginia Beach independent insurance agents that can give you price quote information.
- Nationwide Insurance: The Braun Agency Inc
6062 Indian River Rd Ste 101 – Virginia Beach, VA 23464 – (757) 420-2060 – View Map - Nationwide Insurance: Mayo Insurance Agency Inc
1917 Laskin Rd Ste 101 – Virginia Beach, VA 23454 – (757) 496-5685 – View Map - Nationwide Insurance: Lovas Insurance Agency Inc
244 Mustang Trail #1 – Virginia Beach, VA 23452 – (757) 340-8310 – View Map