Compare Honda Insight Insurance Rates in Buffalo

  1. Home
  2. >
  3. Buffalo Auto Insurance
  4. >
  5. Honda Insight

Discount Honda Insight insuranceIf saving money is your primary concern, then the best way to find low-cost prices for Honda Insight insurance in Buffalo is to make a habit of regularly comparing prices from insurance carriers in New York. This can be done by following these guidelines.

Step 1: Read about how car insurance works and the things you can control to keep rates down. Many things that drive up the price such as accidents, traffic tickets, and a bad credit rating can be rectified by making minor changes to your lifestyle.

Step 2: Quote rates from direct, independent, and exclusive agents. Exclusive and direct companies can only quote rates from one company like GEICO and State Farm, while agents who are independent can provide rate quotes from many different companies.

Step 3: Compare the quotes to the price on your current policy and see if there is a cheaper rate in Buffalo. If you find a lower rate and change companies, make sure there is no lapse between the expiration of your current policy and the new one.

Step 4: Tell your current company of your intention to cancel your existing policy and submit payment and a signed application to your new company or agent. Make sure you put the new certificate of insurance along with your vehicle registration.

The critical component of shopping around is that you use identical coverage information on each quote request and and to get price quotes from as many different companies as possible. Doing this guarantees an accurate price comparison and the best price quote selection.

It's a fact that auto insurance companies don't want policyholders to compare prices from other companies. Drivers who shop for lower prices are highly likely to buy a different policy because of the high probability of finding more affordable rates. A recent survey revealed that drivers who compared prices once a year saved over $860 a year compared to drivers who never compared prices.

If finding the best rates on car insurance is your ultimate goal, then learning a little about the best ways to shop for insurance premiums can help you be more efficient.

Buying the cheapest auto insurance in Buffalo is actually quite easy if you know where to start. If you are insured now or are looking for a new policy, use these tips to get lower rates and possibly find even better coverage. Comparison shoppers just need to learn the quickest method to get comparison quotes from many companies at once.

The quickest way to compare rates for Honda Insight insurance in Buffalo is to understand most of the larger companies allow for online access to compare their rates. To get started, all you need to do is spend a couple of minutes providing details including how much you drive, driver ages, your education level, and how you use your vehicles. The data is then submitted to multiple insurance providers and they provide comparison quotes quickly.

To compare rates for your Honda Insight now, click here and complete the quick form.

The car insurance companies shown below provide comparison quotes in New York. If multiple companies are listed, we suggest you visit two to three different companies in order to find the lowest rates.

Here's why insurance is not optional

Despite the potentially high cost of Honda Insight insurance, insurance may not be optional for several reasons.

  • The majority of states have mandatory insurance requirements which means state laws require a specific minimum amount of liability protection if you don't want to risk a ticket. In New York these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
  • If your Honda has a lienholder, most banks will make it a condition of the loan that you have comprehensive coverage to ensure they get paid if you total the vehicle. If you do not pay your insurance premiums, the bank or lender will purchase a policy for your Honda at a significantly higher premium and require you to fork over the higher price.
  • Insurance safeguards not only your Honda but also your financial assets. It will also reimburse you for medical expenses incurred in an accident. As part of your policy, liability insurance will also pay to defend you if you are sued as the result of your driving. If you have damage to your Honda as the result of the weather or an accident, comprehensive and collision coverage will pay to have it repaired.

The benefits of insuring your car outweigh the cost, especially for larger claims. As of last year, the average driver in New York is overpaying more than $869 every year so you should quote and compare rates at least once a year to ensure rates are competitive.

Analysis of coverages

The premium table displayed below showcases different insurance costs for Honda Insight models. Being aware of how prices are formulated can be of help when making smart policy decisions.

Honda Insight Insurance Rates in Buffalo, NY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $94 $212 $300 $18 $90 $714 $60
Insight EX $108 $250 $300 $18 $90 $766 $64
Get Your Own Custom Quote Go

Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and New York minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Price information does not factor in the specific area where the vehicle is garaged which can influence rates significantly.

Raise deductibles and save

When shopping for car insurance, a common question is where to set your physical damage deductibles. The premium rates below can help you visualize the cost difference between high and low insurance deductibles. The first data set uses a $250 comprehensive and collision deductible and the second rate chart uses a $1,000 deductible.

Honda Insight insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $178 $344 $264 $16 $80 $907 $76
Insight EX $204 $406 $264 $16 $80 $995 $83
Get Your Own Custom Quote Go
Honda Insight insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $110 $216 $264 $16 $80 $686 $57
Insight EX $126 $256 $264 $16 $80 $742 $62
Get Your Own Custom Quote Go

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New York minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Table data does not factor in specific location information which can alter rates considerably.

Based on these figures, using a $250 deductible will cost you about $20 more each month or $240 for a full year than quoting the higher $1,000 deductible. Because you would pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you have at a minimum 38 months between claim filings, you would come out ahead if you decide on a higher deductible. Here's the way you can make your own decision.

Average monthly premium for $250 deductibles: $80
Average monthly premium for $1,000 deductibles (subtract): - $60
Monthly savings from raising deductible: $20
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $20
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 38 months

One important note is that raising deductibles to save money means you will have to pay more when you have to file a claim. You must have some savings in the bank in order to pay more for the deductible.

Full coverage versus liability only rates

The chart below visualizes the comparison of Honda Insight annual premium costs with full coverage and liability only. The premiums are based on no accidents, no driving violations, $1,000 deductibles, single marital status, and no additional discounts are factored in.

Are you wasting money paying for full coverage?

There is no set rule that works best for making the decision to drop full coverage on your policy, but there is a general school of thought. If the yearly cost of full coverage is about 10% or more of the settlement you would receive from your company, then you may want to consider only buying liability coverage.

For example, let's assume your Honda Insight replacement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $3,000 after you pay the deductible. If you are paying over $300 a year for physical damage coverage, then it might be time to consider dropping full coverage.

There are a few cases where dropping full coverage is not a good plan. If you haven't satisfied your loan, you have to maintain full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should maintain full coverage.

These discounts can lower your insurance quotes

Insuring your vehicles can cost a lot, but you might already qualify for some discounts that may help make it more affordable. Some discounts will apply when you quote, but some need to be asked about in order for you to get them.Discount insurance

  • Mature Driver Discount - If you qualify as a senior citizen, you can possibly qualify for a small decrease in premiums.
  • Telematics Devices - People who choose to allow driving data collection to study driving manner by using a small device installed in their vehicle such as Progressive's Snapshot and State Farm's In-Drive may get a rate reduction if they show good driving skills.
  • Driver Training Discounts - Completing a course teaching safe driver skills could cut 5% off your bill depending on where you live.
  • Passenger Safety Discount - Vehicles equipped with air bags or motorized seat belts may get savings of more than 20%.
  • Distant College Student Discount - Children who are attending college and won't have access to an insured vehicle could qualify for this discount.
  • One Accident Forgiven - Not necessarily a discount, but companies like State Farm, Progressive and GEICO will allow you to have one accident before they charge you more for coverage so long as you are claim-free for a particular time prior to the accident.
  • Discounts for Seat Belt Usage - Buckling up and requiring all passengers to buckle up may be able to save a few bucks off the personal injury premium cost.
  • Discount for Home Ownership - Being a homeowner can earn you a little savings because owning a home shows financial diligence.
  • Life Insurance Discount - Not all insurance carriers offer life insurance, but some may give you a break if you buy life insurance.
  • Multi-policy Discount - If you have multiple policies and insure them with the same company they may give you a discount of up to 20% off your total Insight insurance premium.

It's important to understand that some of the credits will not apply to the whole policy. Most only apply to the cost of specific coverages such as liability, collision or medical payments. Despite the fact that it seems like adding up those discounts means a free policy, you're out of luck.

The diagram below shows the comparison of Honda Insight annual premium costs with and without some available policy discounts. The rate quotes are based on a male driver, a clean driving record, no at-fault accidents, New York state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-policy, homeowner, marriage, safe-driver, and multi-car discounts applied.

To locate insurance companies who offer discounts in New York, click this link.