Best Honda Odyssey Insurance in Buffalo

Insurance for Honda OdysseyHow long has it been since you compared low-cost Honda Odyssey insurance in Buffalo? Are you regretting the purchase of high-priced Honda Odyssey insurance in Buffalo? Trust us, there are a lot of people in Buffalo just like you who feel imprisoned by their insurance policy.

It’s hard to fathom, but the vast majority of insurance customers in New York renewed their policy with the same company for at least four years, and approximately 38% of consumers have never quoted insurance rates at all. Many drivers in the U.S. could save roughly 47% a year by just comparing quotes, but they underestimate the amount of money they would save if they bought a different policy.

Because there are so many companies to choose from that have affordable insurance for a Honda Odyssey in Buffalo, it can be hard to choose the lowest price insurance provider.

Finding the cheapest auto insurance coverage in Buffalo is actually not that difficult if you follow our advice. Nearly each driver who shops around for auto insurance will probably be able to save money. But New York vehicle owners do need to understand the methods companies use to sell insurance online.

The quickest way to compare insurance rates from multiple companies is to know all the major auto insurance companies pay for the opportunity to give you rate quotes. The only thing you need to do is give them rating details such as how much school you completed, the year, make and model of vehicles, if a SR-22 is required, and if you’re married. Your insurance information is submitted instantly to many different companies and you will receive price estimates quickly.

To find the cheapest Honda Odyssey insurance rates, click here and enter your zip code.

The companies shown below offer price comparisons in New York. To locate cheap car insurance in NY, we recommend you visit several of them to get the lowest price.

Discounts can help lower rates on Honda Odyssey insurance in Buffalo

Companies do not advertise all discounts very well, so the next list breaks down a few of the more common and also the lesser-known credits that may apply to you.Auto insurance discounts

Remember that some credits don’t apply to the entire cost. Some only apply to individual premiums such as liability and collision coverage. So even though it sounds like you can get free auto insurance, companies wouldn’t make money that way. But any discount will bring down your auto insurance premiums.

The chart below visualizes the comparison of Honda Odyssey insurance costs with and without discounts applied to the policy premium. The data is based on a male driver, a clean driving record, no at-fault accidents, New York state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, safe-driver, homeowner, multi-car, claim-free, and marriage discounts applied.

If you would like to choose from a list of auto insurance companies with the best Honda Odyssey insurance discounts in Buffalo in Buffalo, follow this link.

Analysis of coverages

The data table displayed below outlines estimates of insurance policy prices for Honda Odyssey models. Being aware of how auto insurance policy rates are established can be valuable when making smart choices when purchasing an auto insurance policy.

Honda Odyssey Insurance Rates in Buffalo, NY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Odyssey LX $122 $220 $358 $22 $106 $828 $69
Odyssey EX $122 $266 $358 $22 $106 $874 $73
Odyssey EX W/Rear Entertainment $122 $266 $358 $22 $106 $874 $73
Odyssey EX-L $140 $314 $358 $22 $106 $940 $78
Odyssey EX-L W/Rear Entertainment $140 $314 $358 $22 $106 $940 $78
Odyssey EX-L W/Navigation $140 $314 $358 $22 $106 $940 $78
Odyssey Touring $158 $314 $358 $22 $106 $958 $80
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Prices 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. Rates do not factor in specific location information which can change premiums noticeably.

Auto insurance deductibles

When shopping for auto insurance, a common question is how high or low should comp and collision deductibles be. The premium rates below can help illustrate the differences in price when you select higher and lower coverage deductibles. The first data set uses a $250 deductible and the second data table uses a $500 deductible.

Honda Odyssey insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Odyssey LX $178 $284 $264 $16 $80 $847 $71
Odyssey EX $178 $344 $264 $16 $80 $907 $76
Odyssey EX W/Rear Entertainment $178 $344 $264 $16 $80 $907 $76
Odyssey EX-L $204 $406 $264 $16 $80 $995 $83
Odyssey EX-L W/Rear Entertainment $204 $406 $264 $16 $80 $995 $83
Odyssey EX-L W/Navigation $204 $406 $264 $16 $80 $995 $83
Odyssey Touring $230 $406 $264 $16 $80 $1,021 $85
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Honda Odyssey insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Odyssey LX $144 $228 $264 $16 $80 $732 $61
Odyssey EX $144 $278 $264 $16 $80 $782 $65
Odyssey EX W/Rear Entertainment $144 $278 $264 $16 $80 $782 $65
Odyssey EX-L $166 $328 $264 $16 $80 $854 $71
Odyssey EX-L W/Rear Entertainment $166 $328 $264 $16 $80 $854 $71
Odyssey EX-L W/Navigation $166 $328 $264 $16 $80 $854 $71
Odyssey Touring $188 $328 $264 $16 $80 $876 $73
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and New York minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Premium costs do not factor in vehicle garaging location which can influence premium rates greatly.

Based on this data, using a $250 deductible costs roughly $12 more each month or $144 for a full year than buying the higher $500 deductible. Since you would have to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you tend to have more than 21 months between claim filings, you would save more money if you decide on a higher deductible. Here is a better example of how this decision is made.

Average monthly premium for $250 deductibles: $80
Average monthly premium for $500 deductibles (subtract): – $68
Monthly savings from raising deductible: $12
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $12
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 21 months

One important note is that raising deductibles means you will have to cover more of the damage yourself when you do file a claim. You must have some savings in the event you need to pay the deductible to have repairs made.

Does full coverage make sense?

The example below visualizes the comparison of Honda Odyssey auto insurance costs when comparing full coverage to liability only. The rates are based on a clean driving record, no at-fault accidents, $1,000 deductibles, drivers are not married, and no policy discounts are applied.

Should you be buying full coverage?

There is no written rule for phasing out full coverage, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it might be time to consider dropping full coverage.

For example, let’s say your Honda Odyssey replacement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would receive is $7,000 after paying the physical damage deductible. If you are paying in excess of $700 annually for comprehensive and collision coverage, then it might be time to buy liability only.

There are some conditions where only buying liability is not a good plan. If you still owe a portion of the original loan, you have to keep full coverage as part of the loan requirements. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should maintain full coverage.

Best car insurance company in New York

Insuring your vehicle with the highest-rated auto insurance company can be difficult considering how many different companies insure vehicles in New York. The ranking information shown below could help you choose which providers to look at to insure your vehicles.

Top 10 Buffalo Car Insurance Companies Ranked by Customer Service

  1. Mercury Insurance
  2. The Hartford
  3. American Family
  4. Progressive
  5. USAA
  6. Travelers
  7. State Farm
  8. GEICO
  9. Allstate
  10. Farmers Insurance

Top 10 Buffalo Car Insurance Companies Overall

  1. The General
  2. Mercury Insurance
  3. The Hartford
  4. Progressive
  5. Travelers
  6. State Farm
  7. Farmers Insurance
  8. Erie Insurance
  9. Safeco Insurance
  10. USAA

Informed Drivers Know How to Quote Auto Insurance More Affordably

Multiple criteria are used when pricing auto insurance. Most are fairly basic such as traffic violations, although some other factors are more obscure such as whether you are married and annual miles driven.

Commute or pleasure use – The higher the miles on your Honda in a year the higher your rates will be. A lot of insurance companies calculate prices partially by how you use the vehicle. Autos not used for work or commuting get more affordable rates than vehicles that have high annual mileage. An improperly rated Odyssey can cost quite a bit. Make sure your declarations sheet is rated on the correct usage for each vehicle.

Type of car determines base prices – The make and model of the vehicle you are insuring makes a substantial difference in your car insurance bill. Economy passenger models normally have pretty low rates, but the final cost of insurance is determined by many other factors.

The chart below uses these assumptions: single male driver age 30, full coverage with $1000 deductibles, and no discounts or violations. The chart compares Honda Odyssey insurance rates compared to other vehicles that have different risk factors.

Remove unneeded add-on coverages – There are quite a few extra coverages that can waste your money on your Odyssey policy. Insurance for things like coverage for rental cars, towing, and motor club memberships are probably not needed. These coverages may sound good at first, but your needs may have changed so get rid of them and save.

Low credit rating equals high premiums – Having a bad credit score is likely to be a major factor in determining premium rates. Drivers who have good credit tend to be less risk to insure than drivers who have worse credit. So if your credit score is low, you could save money insuring your Honda Odyssey by improving your rating.

Insurance loss probability for a Honda Odyssey – Insurers factor in historical loss data to help set a rate to offset losses. Models that the data shows to have a trend towards higher claim severity or frequency will have higher rates.

The data below shows the insurance loss data used by companies for Honda Odyssey vehicles. For each policy coverage type, the statistical loss for all vehicles, without regard to make or model, equals 100. Percentages below 100 suggest a positive loss record, while numbers that are greater than 100 point to more losses or tendency to have larger claims.

Insurance Loss Ratings for Honda Odyssey Vehicles
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Honda Odyssey 78 83 75 82 78 71

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