If you want to save the most money, the best way to find low-cost prices for Honda CR-Z insurance in Louisville is to make a habit of comparing prices annually from different companies who sell auto insurance in Kentucky.
First, try to learn a little about how car insurance works and the modifications you can make to prevent expensive coverage. Many factors that result in higher prices like speeding and a low credit rating can be eliminated by being financially responsible and driving safely.
Second, compare prices from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only quote rates from a single company like GEICO and State Farm, while independent agents can provide prices from many different companies.
Third, compare the new rate quotes to your existing policy and determine if cheaper CR-Z coverage is available. If you find a better price and make a switch, ensure coverage does not lapse between policies.
Fourth, provide written notification to your current company to cancel the current policy. Submit the completed application along with a down payment to the new insurer. Once coverage is bound, place your new proof of insurance paperwork in an accessible location in your vehicle.
One thing to remember is that you’ll want to compare the same deductibles and limits on every quote request and and to get price quotes from as many different companies as possible. Doing this helps ensure a fair price comparison and a complete price analysis.
It’s shocking but a large majority of drivers have stayed with the same insurance company for well over three years, and approximately 38% of consumers have never compared quotes from other companies. Many drivers in Louisville could pocket almost $600 a year by just comparing rate quotes, but they mistakenly think it’s difficult to compare rate quotes.
Reducing your insurance rates can be relatively painless. The only requirement is to take the time to compare rates from different insurance companies.
It’s so fast and easy to compare price quotes online that it replaces the need to go to insurance agencies in your area. Doing it all online eliminates this option unless your situation requires the advice and guidance that you can only get from talking to an agent. If you prefer, some companies allow you to get prices online but have your policy serviced through an agent.
The companies shown below provide free rate quotes in Louisville, KY. In order to find the best car insurance in Kentucky, it’s highly recommended you get prices from several of them in order to find the cheapest rates.
Get cheaper Honda CR-Z insurance in Louisville with discounts
Some insurance providers don’t always publicize all discounts very well, so we break down a few of the more well known and the harder-to-find credits available to bring down your rates.
- Discount for Good Grades – Getting good grades can save 20 to 25%. The good student discount can last up until you turn 25.
- Telematics Data – People who choose to allow their car insurance company to track driving habits by using a telematics device in their vehicle such as Progressive’s Snapshot may get a rate reduction if their driving habits are good.
- Life Insurance – Insurance carriers who offer life insurance give a small discount if you purchase some life insurance too.
- Driver Training Discounts – Participating in a course in defensive driving could earn you a small percentage discount if you qualify.
- Driver’s Education for Students – Require your teen driver to successfully take a driver’s education course in high school.
- Service Members Pay Less – Being deployed in the military could qualify you for better rates.
A little note about advertised discounts, some of the credits will not apply to your bottom line cost. Some only apply to the price of certain insurance coverages like liability and collision coverage. So despite the fact that it appears adding up those discounts means a free policy, that’s just not realistic. But any discount will definitely reduce your policy premium.
A list of car insurance companies and their possible discounts include:
- Farm Bureau includes discounts for good student, multi-policy, safe driver, multi-vehicle, and driver training.
- State Farm offers premium reductions for good driver, multiple policy, accident-free, passive restraint, student away at school, Steer Clear safe driver discount, and anti-theft.
- Progressive discounts include good student, online signing, multi-vehicle, online quote discount, continuous coverage, multi-policy, and homeowner.
- Allstate may have discounts that include early signing, anti-lock brakes, economy car, good payer, utility vehicle, farm vehicle, and auto/life discount.
- Nationwide has savings for family plan, multi-policy, Farm Bureau membership, business or organization, and good student.
- MetLife offers discounts for accident-free, good student, defensive driver, claim-free, and multi-policy.
Check with every company which discounts you qualify for. Savings may not be offered in your area. To see a list of insurers that can offer you the previously mentioned discounts in Louisville, click here.
Honda CR-Z Insurance Cost Factors
Lots of factors are taken into consideration when you get your auto insurance bill. A few of the factors are predictable such as traffic violations, although some other factors are not quite as obvious such as your marital status or how financially stable you are.
The factors shown below are some of the major factors used by companies to determine rates.
- Getting married can save you money – Having a spouse can actually save you money when buying auto insurance. It generally demonstrates drivers are more stable financially and statistics show married couples file fewer claims.
- Don’t cancel your auto insurance without a new one in place – Driving without insurance is against the law and as a result your rates will increase for letting your coverage have a gap. Not only will rates go up, getting caught without coverage will get you fines and jail time. You may then be required to prove you have insurance by filing a SR-22 with the Kentucky DMV.
- High claims frequency drives up premiums – If you are the type of insured that files lots of claims you can expect either higher rates or even cancellation. Car insurance companies in Kentucky provide the best rates to insureds who only file infrequent claims. Auto insurance is intended for claims that you cannot pay yourself.
- Car insurance liability insurance limits – A critical coverage on your policy, liability insurance will afford coverage in the event that you are responsible for damages from an accident. Liability insurance provides legal defense coverage which can cost a lot. This coverage is very inexpensive when compared to the cost of physical damage coverage, so do not skimp.
- Rates may be lower depending on your employer – Do you work in a high-stress field? Occupations like fire fighters, social workers, and dentists generally pay higher rates than average due to intense work-related stress and extremely grueling work hours. On the other hand, jobs like professors, students and retirees pay lower than average rates.
- Avoid unnecessary add-on coverages – There are quite a few add-on coverages you can purchase if you aren’t careful. Coverage for things like personal injury protection, better glass coverage, and additional equipment coverage may not be needed and are just wasting money. They may seem good when you first buy your policy, but if you’ve never needed them in the past get rid of them and save.
- Insurance prices are higher for high performance vehicles – The performance level of the vehicle you own makes a substantial difference in your rates. Low performance passenger vehicles usually have the lowest rates, but there are many factors that impact the final cost.
Honda CR-Z insurance loss statistics – Companies use claims history when setting rates for each model. Models that tend to have a trend towards higher claim severity or frequency will cost more for coverage.
The information below illustrates the actual insurance loss data for Honda CR-Z vehicles. For each type of coverage, the statistical loss for all vehicles, as an average, is set at 100. Numbers shown that are under 100 are indicative of better than average losses, while numbers above 100 indicate more frequent claims or larger claims.
Honda CR-Z Insurance Loss Statistics Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Honda CR-Z Hybrid 106 87 83 98BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years