Compare Honda CR-V Insurance Rates in Buffalo

Insurance quote for Honda CR-V in BuffaloIt’s an obvious statement that auto insurance companies don’t want you quoting rates from other companies. People who get comparison quotes once a year will most likely buy a different policy because there is a good probability of finding a more affordable policy premium. A recent study showed that drivers who compared rate quotes regularly saved an average of $72 a month as compared to drivers who never compared other company’s rates.

If finding the cheapest rates on Honda CR-V insurance in Buffalo is your ultimate objective, then knowing how to get free comparison quotes and analyze auto insurance can help you succeed in saving money.

If saving the most money is your goal, then the best way to get the cheapest Honda CR-V insurance in Buffalo is to compare quotes once a year from insurance carriers who sell insurance in New York.

  1. Try to learn about the coverage provided by your policy and the modifications you can make to drop your rates. Many policy risk factors that are responsible for high rates like inattentive driving and a poor credit score can be improved by making lifestyle changes or driving safer.
  2. Compare rates from direct, independent, and exclusive agents. Direct and exclusive agents can only give prices from one company like Progressive and State Farm, while independent agents can provide price quotes for a wide range of companies.
  3. Compare the price quotes to the price on your current policy to see if a cheaper price is available. If you find a better price, ensure there is no coverage lapse between policies.

One thing to point out is to compare the same level of coverage on every quote request and and to analyze as many companies as you can. This helps ensure a fair price comparison and a complete rate analysis.

If you have insurance now, you will most likely be able to buy cheaper insurance using the techniques covered below. Comparing quotes for the cheapest protection in Buffalo is not as confusing as people think. Although New York drivers can benefit from knowing the way insurance companies calculate your insurance rates and apply this information to your search.

Rates and information analytics

The rate table shown next highlights different coverage prices for Honda CR-V models. Being able to understand how insurance premiums are established can be useful when making smart choices when buying a policy.

Honda CR-V Insurance Rates in Buffalo, NY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $122 $220 $304 $18 $90 $754 $63
CR-V EX 2WD $122 $220 $304 $18 $90 $754 $63
CR-V LX 4WD $122 $220 $304 $18 $90 $754 $63
CR-V EX 4WD $140 $220 $304 $18 $90 $772 $64
CR-V EX-L 2WD $140 $220 $304 $18 $90 $772 $64
CR-V EX-L 4WD $140 $220 $304 $18 $90 $772 $64
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Data rating is based on single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Information does not factor in specific zip code location which can revise coverage rates considerably.

Raise deductibles and save

One of the most common auto insurance questions is which deductibles should you choose. The following tables may help you to understand the differences in price of buying low and high comp and collision deductibles. The first set of rates uses a $100 comprehensive and collision deductible and the second price grid uses a $1,000 deductible.

Honda CR-V insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $198 $338 $226 $14 $68 $869 $72
CR-V EX 2WD $198 $338 $226 $14 $68 $869 $72
CR-V LX 4WD $198 $338 $226 $14 $68 $869 $72
CR-V EX 4WD $228 $338 $226 $14 $68 $899 $75
CR-V EX-L 2WD $228 $338 $226 $14 $68 $899 $75
CR-V EX-L 4WD $228 $338 $226 $14 $68 $899 $75
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Honda CR-V insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $110 $178 $226 $14 $68 $596 $50
CR-V EX 2WD $110 $178 $226 $14 $68 $596 $50
CR-V LX 4WD $110 $178 $226 $14 $68 $596 $50
CR-V EX 4WD $126 $178 $226 $14 $68 $612 $51
CR-V EX-L 2WD $126 $178 $226 $14 $68 $612 $51
CR-V EX-L 4WD $126 $178 $226 $14 $68 $612 $51
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Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and New York minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Rates do not factor in your specific Buffalo location which can influence premium rates greatly.

We can estimate from the data above that using a $100 deductible costs roughly $23 more each month or $276 annually averaged for all CR-V models than opting for the higher $1,000 deductible. Due to the fact that you would have to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have more than 39 months between claim filings, you would come out ahead if you opt for a higher deductible. Below is a better example of how this decision is made.

Average monthly premium for $100 deductibles: $74
Average monthly premium for $1,000 deductibles (subtract): – $51
Monthly savings from raising deductible: $23
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $23
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 39 months

One important caveat is that increasing deductibles to lower your rates results in having to pay to pay more out-of-pocket when you file a claim. You will want to have some savings in the event you have to pay the deductible for vehicle repair.

Honda CR-V insurance premiums by gender in Buffalo

The example below compares Honda CR-V premium costs for male and female drivers. The rates are based on no tickets, no at-fault accidents, full coverage, $100 deductibles, single status, and no discounts are taken into consideration.

Why Your Insurance Rates might be higher

Many different elements are used when quoting car insurance. Some are pretty understandable like your driving record, but others are not as apparent like your vehicle usage or your financial responsibility. One of the most helpful ways to save on auto insurance is to to have a grasp of some of the elements that aid in calculating your premiums. When you understand what positively or negatively impacts your premiums, this allows you to make good choices that could result in lower auto insurance prices.

Long commutes cost more – The more you drive each year the more it will cost to insure it. A lot of companies calculate rates based on their usage. Vehicles that sit idle most of the time receive lower rates than vehicles that have high annual mileage. An improperly rated CR-V may be wasting your money. It’s a good idea to make sure your auto insurance policy reflects the correct driver usage.

Pay more by driving carelessly – Careful drivers have lower premiums compared to drivers with tickets. Having just one speeding ticket or other violation can boost insurance rates twenty percent or more. Drivers with dangerous violations such as reckless driving or DUI may find that they have to to submit a SR-22 form with their state DMV in order to prevent a license revocation.

The diagram below illustrates how speeding tickets and at-fault claims can raise Honda CR-V insurance prices for each age group. The information is based on a married male driver, full physical damage coverage, $100 deductibles, and no additional discounts are factored in.

Higher premiums for specific vocations – Did you know your career choice can influence rates? Careers like military generals, business owners, and medical professionals have higher premiums than the average policyholder due to job stress and incredibly demanding work hours. On the flip side, jobs like scientists, engineers and homemakers generally pay rates lower than average.

Drivers with excellent credit save – An insured’s credit history can be a huge factor in determining premium rates. People with high credit scores tend to file fewer claims as compared to drivers with poor credit. Therefore, if your credit history can use some improvement, you could save money insuring your Honda CR-V by taking the time to improve your credit score.

Type of car determines base costs – The make and model of the car you are insuring makes a substantial difference in the rate you pay. The lowest base rates are generally reserved for small economy passenger cars, but your final cost has many other factors.

The following chart assumes a single male driver age 50, full coverage with $1000 deductibles, and no discounts or violations. It compares Honda CR-V policy rates compared to other models that have a range of performance risks.

Lower rates by increasing deductibles – Comprehensive and collision coverage deductibles state the amount of money you are required to pay before a claim is paid by your company. Protection for physical damage, also called ‘full coverage’, protects your car from damage. Some examples of claims that would be covered would be colliding with a stationary object, collision with a deer, and having a roll-over accident. The more money you’re willing to pay, the lower your rates will be.

Lower rates for cars with good safety ratings – Cars with five star safety ratings tend to have lower insurance rates. Vehicles built for safety result in less severe injuries and fewer injuries means your insurance company pays less and more competitive rates for policyholders. If your Honda CR-V has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website it may cost less to insure.

Loss statistics for a Honda CR-V – Insurance companies use past loss statistics for each vehicle to calculate a rate that will offset losses. Models that are shown to have increased claim numbers or amounts will be charged more to insure.

The table below illustrates the insurance loss data for Honda CR-V vehicles. For each policy coverage, the loss probability for all vehicles combined as an average is considered to be 100. Percentages below 100 suggest a positive loss record, while values over 100 indicate a higher chance of having a claim or an increased likelihood of larger losses.

Car Insurance Loss Data for Honda CR-V Models
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Honda CR-V 4dr 2WD 68 81 58 93 86 77
Honda CR-V 4dr 4WD 69 82 69 90 87 78

Data Source: (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Buffalo auto insurance company ratings

Finding a highly-rated insurer is hard considering how many choices drivers have in Buffalo. The rank data shown next can help you decide which auto insurers you want to consider putting your business with.

Buffalo, New York Auto Insurance Company Rankings
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
The General 96 100 92 91% A- 95
Mercury Insurance 87 96 100 87% A+ 93.4
The Hartford 88 96 91 93% A+ 92.6
Progressive 84 94 99 90% A+ 92.4
Travelers 84 93 100 87% A++ 92.3
State Farm 84 93 95 87% A++ 91
Farmers Insurance 87 92 90 85% A 90.6
Erie Insurance 92 90 82 88% A+ 88.5
Safeco Insurance 85 91 87 86% A 88.4
USAA 71 93 98 87% A++ 88
GEICO 73 93 95 85% A++ 87.1
21st Century 85 85 91 89% A 86.9
Liberty Mutual 72 91 97 83% A 86.4
AAA Insurance 85 85 88 86% A 85.8
Nationwide 71 90 93 83% A+ 84.9
Allstate 69 92 92 83% A+ 84.4
American Family 77 96 80 85% A 83.8
Esurance 70 80 89 77% A+ 79.2
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Data Source: Best Car Insurance Companies

Persistence will pay off

In this article, we covered quite a bit of information on how to save on Honda CR-V insurance in Buffalo. The most important thing to understand is the more price quotes you have, the better likelihood of getting low cost Buffalo car insurance quotes. You may even find the biggest savings come from some of the lesser-known companies. Smaller companies may cover specific market segments cheaper compared to the large companies like Progressive or GEICO.

The cheapest Honda CR-V insurance in Buffalo is possible online in addition to local insurance agencies, and you need to comparison shop both in order to have the best chance of saving money. Some insurance companies may not provide rate quotes online and many times these smaller providers only sell coverage through independent agents.

Additional information