Amazingly, a recent NerdWallet.com study showed that most insurance buyers in Kentucky kept buying from the same company for four years or more, and just under half have never compared insurance rates at all. Most drivers in the U.S. could pocket as much as 47% a year just by getting comparison quotes, but most just don’t grasp the actual amount they would save if they just switched companies.
If saving money is your primary concern, then the best way to get more affordable Honda Accord Hybrid insurance is to annually compare prices from insurance carriers who provide car insurance in Louisville.
First, try to learn a little about individual coverages and the modifications you can make to prevent expensive coverage. Many factors that cause high rates like traffic tickets, fender benders, and a less-than-favorable credit score can be remedied by being financially responsible and driving safely. Later in this article we will cover ideas to prevent rate hikes and find overlooked discounts.
Second, compare rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only give rate quotes from one company like GEICO or Farmers Insurance, while independent agencies can give you price quotes for many different companies.
Third, compare the new quotes to your current policy premium to see if switching to a new carrier will save money. If you find a lower rate and make a switch, verify that coverage does not lapse between policies.
Fourth, provide notification to your current company to cancel the current policy and submit any necessary down payment along with the completed application to your new company or agent. Once coverage is bound, place the new certificate verifying proof of insurance in your vehicle.
The key thing to know about shopping around is to compare the same amount of coverage on every quote and and to compare every insurance company. Doing this provides a level playing field and the best price selection.
Finding quotes for affordable insurance policy in Louisville is not as hard as you may think. If you are already insured or want to find a cheaper company, follow these tips to find the best rates and possibly find even better coverage. You only need an understanding of the most efficient way to get comparison rates online.
Most larger insurance companies give coverage prices on the web. Comparing prices online for Honda Accord Hybrid insurance in Louisville is fairly simple because you just enter your required coverages as requested by the quote form. Once entered, the system requests your driving record and credit report and generates pricing information based on many factors.
Getting online rates for Honda Accord Hybrid insurance in Louisville makes comparing rates easy, and it’s very important to do this in order to find the lowest payment.
To compare pricing, compare rates now from the companies shown below. If you have your current policy handy, we recommend you type in the coverage information just like they are on your policy. Doing this guarantees you will have an apples-to-apples comparison using the exact same coverages.
The auto insurance companies shown below provide price comparisons in Louisville, KY. To buy cheap car insurance in Louisville, KY, it’s highly recommended you visit several of them in order to find the cheapest rates.
These eight discounts can slash Honda Accord Hybrid insurance rates
Some companies don’t necessarily list all available discounts in an easy-to-find place, so the below list has some of the more common and also the more inconspicuous discounts that you may qualify for.
- Low Mileage Discounts – Keeping the miles down on your Honda can qualify you for cheaper premium rates.
- E-sign Discounts – Some of the larger companies will give you a small discount get Louisville car insurance on the web.
- Active Service Discounts – Being deployed in the military could mean lower rates.
- Membership in Organizations – Having an affiliation with qualifying clubs or civic groups could trigger savings on your next renewal.
- One Accident Forgiven – This one is not really a discount per se, but companies like GEICO and Allstate will turn a blind eye to one accident without getting socked with a rate hike with the catch being you have to be claim-free for a specific time period.
- Student Discount for Driver Training – It’s a good idea to have your young drivers successfully take a driver’s education course as it will make them better drivers and lower rates.
- Savings for New Vehicles – Putting auto insurance coverage on a new Accord Hybrid can cost up to 25% less compared to insuring an older model.
- Good Student Discount – Excelling in school can save 20 to 25%. Many companies even apply the discount to college students well after school through age 25.
Don’t be shocked that most discounts do not apply to all coverage premiums. Some only apply to the price of certain insurance coverages like liability and collision coverage. Even though the math looks like having all the discounts means you get insurance for free, that’s just not realistic. But all discounts will definitely reduce your policy premiums.
A few of the larger companies and some of the discounts include:
- State Farm offers discounts for good student, Drive Safe & Save, multiple policy, multiple autos, good driver, Steer Clear safe driver discount, and student away at school.
- GEICO includes discounts for driver training, daytime running lights, seat belt use, federal employee, military active duty, and air bags.
- Progressive offers premium reductions for good student, multi-vehicle, continuous coverage, homeowner, multi-policy, online quote discount, and online signing.
- 21st Century offers discounts including early bird, student driver, teen driver, homeowners, and automatic seat belts.
- American Family discounts include defensive driver, Steer into Savings, mySafetyValet, TimeAway discount, and bundled insurance.
- The Hartford policyholders can earn discounts including air bag, good student, anti-theft, driver training, vehicle fuel type, bundle, and defensive driver.
- AAA has discounts for anti-theft, multi-car, multi-policy, pay-in-full, education and occupation, and good student.
Before buying, ask every company which discounts can lower your rates. Some discounts may not be available in your state. For a list of companies offering auto insurance discounts in Louisville, click this link.
Compare rates but buy from a local Louisville insurance agency
Many people prefer to get advice from a local agent and that is just fine! Good agents are trained to spot inefficiencies and help submit paperwork. An additional benefit of getting online price quotes is you can get the best rates but also keep your business local. And supporting local insurance agents is especially important in Louisville.
After filling out this quick form, your coverage information is transmitted to agents in your area that can provide free Louisville car insurance quotes and help you find cheaper coverage. You won’t even need to search for any insurance agencies due to the fact that quote results will go directly to you. If you have a need to get a price quote from one company in particular, you just need to search and find their rate quote page to submit a rate quote request.
Finding the right company shouldn’t rely on just the bottom line cost. Ask your prospective agent these questions:
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- Do they make recommendations based only on price?
- How does the company pay claims for a total loss?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- Are there any hidden costs in their price quote and does it include driving and credit history?
Tailor your auto insurance coverage to you
Always remember that when buying your policy for your personal vehicles, there really is no cookie cutter policy. Every insured’s situation is different so this has to be addressed.
For instance, these questions may help you determine whether you could use an agent’s help.
- Should I drop comprehensive coverage on older vehicles?
- What if I total my Honda Accord Hybrid and owe more than it’s worth?
- Do I pay less if my vehicle is kept in my garage?
- Why do I need rental car insurance?
- Is my custom paint covered by insurance?
- What if a claim settlement is too low?
- Should I buy additional glass protection?
- Do I benefit by insuring my home with the same company?
- Is rental equipment covered for theft or damage?
- Where can I find high-risk insurance?
If you don’t know the answers to these questions but one or more may apply to you then you might want to talk to a licensed agent. To find an agent in your area, take a second and complete this form or you can also visit this page to select a carrier It only takes a few minutes and can help protect your family.
Why you need auto insurance
Despite the potentially high cost of Honda Accord Hybrid insurance, maintaining insurance is a good idea for several reasons.
- The majority of states have minimum liability requirements which means state laws require a minimum amount of liability coverage if you don’t want to risk a ticket. In Kentucky 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 you have a lien on your Honda Accord Hybrid, more than likely the lender will require that you buy insurance to guarantee loan repayment. If you let the policy lapse, the bank may buy a policy for your Honda at a significantly higher premium and make you pay a much higher amount than you were paying before.
- Insurance protects not only your Honda Accord Hybrid but also your financial assets. It will also cover hospital and medical expenses incurred in an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if you are sued as the result of an accident. If damage is caused by hail or an accident, comprehensive and/or collision insurance will pay to have it repaired.
The benefits of insuring your Accord Hybrid are definitely more than the cost, specifically if you ever have a liability claim. Despite what companies tell you, the average driver is currently overpaying as much as $810 a year so we recommend shopping around at every renewal to ensure rates are competitive.
Auto insurance coverages
Knowing the specifics of a insurance policy aids in choosing appropriate coverage and proper limits and deductibles. Policy terminology can be difficult to understand and reading a policy is terribly boring. Shown next are the normal coverages found on the average insurance policy.
Uninsured Motorist or Underinsured Motorist insurance
Uninsured or Underinsured Motorist coverage gives you protection when other motorists do not carry enough liability coverage. Covered claims include medical payments for you and your occupants as well as your vehicle’s damage.
Due to the fact that many Kentucky drivers carry very low liability coverage limits (25/50/10 in Kentucky), their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea. Frequently your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.
Liability insurance can cover injuries or damage you cause to other people or property. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see limits of 25/50/10 that means you have a $25,000 limit per person for injuries, $50,000 for the entire accident, and $10,000 of coverage for damaged property. Some companies may use one number which is a combined single limit which limits claims to one amount rather than limiting it on a per person basis.
Liability insurance covers claims like pain and suffering, attorney fees and funeral expenses. How much coverage you buy is your choice, but you should buy higher limits if possible. Kentucky requires minimum liability limits of 25/50/10 but drivers should carry higher limits.
The illustration below demonstrates why low liability limits may not be enough coverage.
Coverage for collisions
This pays for damage to your Accord Hybrid resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.
Collision coverage pays for claims such as colliding with a tree, sideswiping another vehicle and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to raise the deductible on your Accord Hybrid in order to get cheaper collision rates.
Insurance for medical payments
Med pay and PIP coverage reimburse you for expenses for things like X-ray expenses, pain medications, EMT expenses, dental work and funeral costs. They are often used in conjunction with a health insurance policy or if you are not covered by health insurance. Coverage applies to you and your occupants as well as any family member struck as a pedestrian. Personal Injury Protection is only offered in select states but it provides additional coverages not offered by medical payments coverage
Comprehensive coverage (or Other than Collision)
Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against claims such as hail damage, damage from getting keyed, hitting a deer and damage from flooding. The highest amount you can receive from a comprehensive claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Cheap car insurance rates are possible
We just showed you a lot of information how to compare Honda Accord Hybrid insurance premium rates in Louisville. The key thing to remember is the more price quotes you have, the higher your chance of finding affordable Honda Accord Hybrid insurance quotes. Drivers may even discover the lowest priced car insurance comes from a lesser-known regional company. They may have significantly lower prices on certain market segments than the large multi-state companies such as Allstate or State Farm.
As you restructure your insurance plan, it’s not a good idea to buy lower coverage limits just to save a few bucks. There have been many cases where drivers have reduced physical damage coverage and learned later that the savings was not a smart move. The proper strategy is to buy a smart amount of coverage for the lowest cost, but don’t skip important coverages to save money.
- Reducing Your Risks in a Car Crash Video (iihs.org)
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- Property Damage Coverage (Liberty Mutual)
- State Laws for Cellphones and Texting (iihs.org)
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