Buying economical coverage for a Honda Accord in Virginia is fairly easy, but it hinges on a fairly complex equation with a lot of factors such as the mileage of your daily commute, your geographic location, and any prior driving citations you have received. Virginia drivers pay around $815 annually to insure their Accord, but that figure is calculated using a 40-year-old married female driver with both comprehensive and collision coverage and $100 deductibles.
Most likely you aren’t exactly 40 years old or even a female, single instead of married, and you may just want the cheapest liability coverage you can find. Just a slight change in rating variables can result in a large change in the price of a policy.
Each driver’s needs are different, and that demonstrates why the only way to find the cheapest coverage for your Honda is to compare as many rates as you can.
Vehicle trim level tends to have a direct effect on price, so the price you will be charged to insure a Accord LX 4-Dr Sedan will be $292 less than the price to insure the fancier Accord EX-L 2-Dr Coupe version, as shown in the table below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Accord LX 4-Dr Sedan | $166 | $322 | $230 | $14 | $68 | $800 | $67 |
| Accord EX 4-Dr Sedan | $166 | $322 | $230 | $14 | $68 | $800 | $67 |
| Accord LX-P 4-Dr Sedan | $166 | $322 | $230 | $14 | $68 | $800 | $67 |
| Accord EX-L 4-Dr Sedan | $190 | $392 | $230 | $14 | $68 | $894 | $75 |
| Accord EX 2-Dr Coupe | $190 | $462 | $306 | $18 | $92 | $1,068 | $89 |
| Accord LX-S 2-Dr Coupe | $190 | $462 | $306 | $18 | $92 | $1,068 | $89 |
| Accord EX-L 2-Dr Coupe | $214 | $462 | $306 | $18 | $92 | $1,092 | $91 |
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Prices based on married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Virginia minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, multi-vehicle, and homeowner. Rate quotes do not factor in vehicle garaging location which can change coverage rates noticeably.
Auto insurance company ratings
Insuring your vehicle with the highest-rated car insurance provider can be rather challenging considering how many companies sell insurance in Virginia. The rank data in the lists below could help you select which coverage providers you want to consider when comparing insurance rates for a Honda Accord. The ratings below are only made up of large nationwide companies, so companies that focus mainly on Virginia business are not taken into consideration for this list.
Top 10 Major Car Insurance Companies in Virginia Beach Ranked by Claims Service
- Travelers
- Allstate
- Nationwide
- State Farm
- GEICO
- Liberty Mutual
- American Family
- Esurance
- AAA Insurance
- Titan Insurance
Bad driving habits will cost you more
One of the best ways to receive the cheapest auto insurance premiums for an Accord is to be an attentive driver and avoid accidents and traffic citations. The diagram below demonstrates how citations and at-fault fender-benders drive up car insurance costs for each different age category. The data assumes a married male driver, comprehensive and collision coverage, $1,000 deductibles, and no policy discounts are applied.
The data in the chart shows the average cost of a car insurance policy in Virginia Beach per year with no accidents or violations is $926. Get written up for two speeding tickets and the average cost surges to $1,267, an increase of $341 each year. Then throw in two accidents along with the two speeding tickets and the yearly cost of auto insurance for a Honda Accord jumps again to an average of $2,693. That’s an increase of $1,766, or $147 per month, just for not driving safely!
The example below illustrates how your deductible choice can affect insurance costs when quoting cheap insurance for a Honda Accord. The rates are based on a single male driver, comp and collision included, and no other discounts are factored in.
As shown above, a 40-year-old driver could lower rates by $294 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $444 by changing to a $1,000 deductible. Even younger insureds, such as the Age 20 example, could shave $976 or even more just by choosing larger deductibles. If you do make the decision to raise your deductibles, it is a good idea to have additional funds squirreled away to pay the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
Here’s why you should shop around
Virginia Beach auto insurance rates are calculated based on many things which can substantially decrease or increase the price you pay. Simply getting older, becoming a homeowner, or getting a speeding ticket may prompt premium changes that can cause some rates to be much cheaper than others. Also, insurers change the rates they charge in Virginia as often as every three months in order to remain profitable. Significantly higher claims can result in high rates, while better underwriting may cause cheaper Accord insurance rates.
To illustrate this point, the graph below shows a variety of companies that have the cheapest car insurance in Virginia Beach, VA for a 30-year-old male driver with a clear driving record, no claims, and a high credit rating. If we estimate prices based on his current rating profile, Travelers offers the lowest car insurance rates in Virginia Beach at $798 each year. This is $360 less than the average price paid by Virginia drivers of $1,158. USAA, Penn National, Cincinnati Insurance, and Auto-Owners are the rest of the cheapest Virginia Beach, VA auto insurance companies.
The next chart shows rates after we give the driver from the first set of rates an at-fault accident, bad credit, and a traffic ticket or two. Since each auto insurance company uses their own calculation for determining prices, comparing prices could now result in a new list of companies as shown below.
The Hartford now has the cheapest car insurance in Virginia Beach, VA with Utica National, Virginia Farm Bureau, Donegal Mutual, and Nationwide now rounding out the top five. This shows why consumers need to shop around when trying to get the cheapest insurance quotes for a Honda Accord.
Prices can be determined by many risk factors and change dramatically, so the most affordable company six months ago may now be one of the more expensive options.
How to find the cheapest auto insurance for a Honda Accord
Here are some of the recommended penny-pinching solutions that can help you buy cheaper coverage.
- Do not waste money insuring older vehicles for full coverage
- Better credit rating means better rates
- Remain accident-free and save
- Buy your auto and home insurance from the same company and save
- Get cheaper liability coverage by choosing a safer vehicle
- Shop around and save
The last item on the list is highly crucial, as was discussed in the article above. Coverage rates can change significantly in a year, so don’t be unwilling to change to a new company if a lower-cost policy is available. Having brand loyalty is commendable, but it isn’t a good idea if that dedication is costing money that could be going to better use. Take a couple minutes and compare prices to find cheaper car insurance for a Honda Accord in Virginia Beach.