How much does Car Insurance for a Honda Accord cost? To gauge how the Car Insurance for a Honda Accord compares to the whole midsize vehicle class, continue reading to explore our article below:
How much does Car Insurance for a Honda Accord cost?
The typical cost of Car Insurance for a Honda Accord is $1,588 per year or $132 per month. Aim for yearly insurance costs for an Accord that is around $1 lower than the average for all midsize cars and $21 more than the $1,567 national average for all vehicles.
According to driver age and policy deductibles, the average Car Insurance for a Honda Accord premiums may be seen changing in the accompanying graph. The costs listed range from $1,202 per year for a motorist age 60 with $1,000 in deductibles to the maximum cost of $3,706 per year for a driver age 20 with $250 in deductibles for annual insurance.
An example of the wide range in vehicle insurance premiums is the liability-only coverage for a Honda Accord, which can be purchased for as little as $237 per year in more inexpensive areas like Indiana or Idaho. Full coverage insurance for a freshly licensed juvenile driver with a propensity for speeding in the most affluent zip codes of Los Angeles, California, could cost $12,940 annually.
How to reduce the Car Insurance for a Honda Accord cost?
With so many variables influencing Car Insurance for a Honda Accord rates, we selected a few to show how various profiles and lifestyle preferences can have a big impact on how much you’ll have to pay to insure your Honda Accord.
- The cost of high-risk insurance will likely be expensive. The necessity to purchase high-risk coverage may result in prices rising by $1,894 or more per year for a motorist 50 years old. In general, only significant offenses like DWI/DUIs, driving without a license or insurance, or several incidents when the at-fault party was at fault require high-risk insurance.
- The sex of the driver affects rates. A 20-year-old male driver pays an estimated $3,182 annually for a 2022 Honda Accord, while a 20-year-old female driver pays $2,348 annually, a difference of $834 annually. Given that men tend to be more ambitious and risk-tolerant at this age, women receive rates that are much lower.
- But at the age of 50, there is just a $30 difference in the rates for male and female drivers, who both pay $1,450. That is what marriage and children will do to a man.
- Accident avoidance reduces costs. Accidents when someone is at fault increase insurance costs, perhaps by an additional $2,254 for a 20-year-old driver and even $524 for a 50-year-old motorist each year.
- Earn savings by being eligible for policy discounts. If the insured drive a vehicle with safety or anti-theft features, are claim-free, belong to specific professional organizations, insure their home and car with the same company, or qualify for any other policy discounts, they may be eligible for discounts. The average driver could save up to $264 annually by taking advantage of these discounts.
- Receive a discount from your profession of choice. For certain professions like college professors, architects, physicians, military personnel, scientists, farmers, and other jobs, some vehicle insurance providers provide policy reductions. Depending on the age of the rated driver, you might save anywhere from $48 to $159 annually on insurance if you can get this reduction applied to your policy.
- Teen driver insurance for Accords is pricey. The average cost for complete coverage A 16-year-old driver’s annual cost for accord insurance is $5,732, a 17-year-old driver’s annual cost is $5,366 and an 18-year-old driver’s annual cost is $5,012.
- High deductibles result in lower auto insurance. For a driver who is 40 years old, raising the deductible from $500 to $1,000 might result in annual savings of around $250 and $492, respectively.
- Insurance premiums go up when deductibles are lower. A 40-year-old driver could have to pay an additional $264 a year and a 20-year-old driver might have to pay $524 a year if their bodily damage deductibles were reduced from $500 to $250.
How much is insurance for a Honda Accord?
The Accord costs $86 more annually than the Toyota Camry, $118 less than the Nissan Altima, $14 less than the Tesla Model 3, and $4 more than the Chevrolet Malibu when compared to comparable midsize sedans.
The Honda Accord is the 8th most affordable midsize car to insure out of a total of 13 models for 2022. Full coverage insurance for the Accord costs an average of $1,588 per year, whereas the class average is $1,589 annually. This is a $1 annual cost difference.
The table below compares the typical insurance costs for an Accord to those for other well-liked midsize vehicles in 2022, including the Toyota Camry, Nissan Altima, and Chevrolet Malibu. After the graphic, there is a long table with rates for each of the 13 automobiles in the midsize car sector.
We may compare Car Insurance for a Honda Accord and other models with comparable average MSRPs once sticker price is taken into account. The average MSRP for the 2022 Accord is $31,564, before destination costs and dealer fees. The Hyundai Sonata, Mazda 6, Toyota Camry, and Subaru Legacy are the cars that have prices that are most comparable to the Accord for the 2022 model year. The following table compares the purchase and Car Insurance for Honda Accord costs of certain vehicles to those of the Honda Accord. For more Car Insurance for a Honda Accord comparisons and information on many other makes and models, see our cost comparisons index page.
- Honda Accord vs. Hyundai Sonata: The Hyundai Sonata has an average MSRP of $30,667, with variations between $24,350 and $35,400, which is $897 cheaper than the Honda Accord’s average sticker price. The Hyundai Sonata has full-coverage insurance that is on average $148 more expensive per year than the Honda Accord.
- Honda Accord vs. Mazda 6: The 2022 Mazda 6 has an average MSRP of $30,542 ($24,475 to $35,900), which is $1,022 cheaper than the Honda Accord’s average price. Compared to an Accord, drivers of the Mazda 6 may anticipate paying an annual insurance premium that is on average $70 cheaper.
- Toyota Camry vs. Honda Accord: The Toyota Camry has an average MSRP of $30,273 and a price range of $25,395 to $35,820, which is $1,291 cheaper than the Honda Accord’s MSRP. The Toyota Camry has an average annual insurance cost of $86 less than the Honda Accord.
- Subaru Legacy vs. Honda Accord: The 2022 Subaru Legacy is $1,953 less expensive than the Honda Accord on average, with prices ranging from $22,995 to $36,195 and an average of $29,611. For full coverage insurance, the Subaru Legacy will cost you on average $108 less per year than an Accord.
The Car Insurance for a Honda Accord is a well-liked option if you’re searching for a high-quality automobile because it has been one of the most popular models sold in the United States since 1989. If you’re concerned about the Car Insurance for a Honda Accord rates, you should know that they are equivalent to those of other vehicles in the market, and if you shop about a bit, you may save even more.