A recent insurance study discovered that a large majority of drivers have purchased from the same company for at least the last four years, and approximately 38% of consumers have never quoted insurance rates at all. Kentucky drivers could pocket nearly $630 a year by just comparing quotes, but most just don't grasp the rate savings if they switch to a new company.
It takes a little time, but the best way to get budget Honda CR-V insurance is to compare prices annually from insurers who can sell car insurance in Louisville.
Step 1: Try to understand how car insurance works and the things you can control to keep rates down. Many things that cause high rates like accidents, traffic tickets, and poor credit can be remedied by making minor changes in your lifestyle. This article provides instructions to get affordable coverage and find additional discounts you may qualify for.
Step 2: Get rate quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only give prices from a single company like GEICO and Allstate, while independent agencies can provide price quotes for a wide range of insurance providers. View companies
Step 3: Compare the price quotes to your existing coverage to see if you can save by switching companies. If you can save some money, ensure coverage does not lapse between policies.
A good piece of advice is that you'll want to make sure you compare identical coverages on every quote and and to get rate quotes from every insurance company. This ensures a level playing field and a complete price analysis.
Affordable Louisville Honda CR-V insurance price quotes
Many insurance companies allow consumers to get price estimates on the web. Obtaining pricing for Honda CR-V insurance in Louisville is quite easy as all you need to do is type in the amount of coverage you want into the form. After you submit the form the company's rating system collects your driving record and credit report and provides a quote. Getting online quotes for Honda CR-V insurance in Louisville makes it simple to compare prices and it's necessary to perform this step in order to get the cheapest price.
To find out what other companies charge, check out the insurance providers below. To compare your current rates, we recommend you complete the form with coverages and limits as close as possible to your current policy. Using the same limits helps guarantee you are getting rate quotes using the exact same coverages.
The providers in the list below offer price quotes in Louisville, KY. If you want to find cheaper car insurance in Kentucky, we recommend you get rates from several of them to get a more complete price comparison.
Data for Honda CR-V insurance
The data table displayed below covers a range of coverage costs for Honda CR-V models. Learning how prices are calculated can assist in making informed purchases.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|CR-V LX 2WD||$244||$430||$374||$22||$112||$1,182||$99|
|CR-V EX 2WD||$244||$430||$374||$22||$112||$1,182||$99|
|CR-V LX 4WD||$244||$430||$374||$22||$112||$1,182||$99|
|CR-V EX 4WD||$280||$430||$374||$22||$112||$1,218||$102|
|CR-V EX-L 2WD||$280||$430||$374||$22||$112||$1,218||$102|
|CR-V EX-L 4WD||$280||$430||$374||$22||$112||$1,218||$102|
|Get Your Own Custom Quote Go|
Above prices assume single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, homeowner, and multi-vehicle. Rate information does not factor in specific location information which can alter coverage prices considerably.
Does full coverage make sense?
The example below compares Honda CR-V insurance costs with full physical damage coverage and with liability coverage only. The data assumes no violations or claims, $100 deductibles, marital status is single, and no discounts are applied to the premium.
When to switch to liability coverage only
There is no written rule of when to exclude physical damage coverage on your policy, but there is a general guideline you can use. If the annual cost of coverage is more than about 10% of the settlement you would receive from your company, then you may need to consider dropping full coverage.
For example, let's pretend your Honda CR-V settlement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, you would only receive $2,000 after paying your deductible. If you are paying in excess of $200 annually for physical damage coverage, then you might want to think about dropping full coverage.
There are some circumstances where only buying liability is not financially feasible. If you still owe a portion of the original loan, you have to carry full coverage in order to prevent your loan from defaulting. Also, if you don't have enough money to buy a different vehicle if your current one is totaled, you should not drop full coverage.
Car insurance just makes sense
Despite the potentially high cost of Honda CR-V insurance, paying for car insurance may be required and benefits you in several ways.
- Almost all states have minimum liability requirements which means the state requires a minimum amount of liability protection if you want to drive legally. 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 your Honda CR-V has a lienholder, almost all lenders will make it a condition of the loan that you carry insurance to guarantee loan repayment. If you do not pay your insurance premiums, the lender will be forced to insure your Honda at an extremely high rate and force you to reimburse them a much higher amount than you were paying before.
- Insurance safeguards your Honda CR-V and your assets. Insurance will pay for all forms of medical expenses for both you and anyone you injure as the result of an accident. Liability coverage will also pay to defend you if you cause an accident and are sued. If you have damage to your Honda as the result of the weather or an accident, your car insurance policy will pay to have it repaired.
The benefits of insuring your CR-V more than offset the price you pay, particularly for liability claims. Today the average American driver is currently overpaying as much as $825 a year so compare rate quotes at every renewal to help ensure money is not being wasted.
Smart Consumers Can Lower Their Insurance Rates
Lots of things are used when you quote your car insurance policy. Some factors are common sense such as your driving history, although others are less obvious like where you live or how safe your car is. A large part of saving on car insurance is knowing the different types of things that help determine your car insurance rates. If you know what determines premiums, this enables you to make decisions that will entitle you to lower premium levels.
Discounts for married drivers - Being married can get you a discount when shopping for car insurance. Having a significant other demonstrates that you tend to be more mature and responsible and insurance companies reward insureds because married drivers get in fewer accidents.
Advanced alarms and GPS tracking - Buying a car with advanced anti-theft systems can help lower your premiums. Anti-theft features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all help stop auto theft.
Choose high crash test ratings and save - Vehicles with high crash test scores get lower rates. Safer cars reduce injuries and any reduction in injury severity translates into savings for insurance companies which can result in lower premiums. If your Honda CR-V scored at minimum four stars on Safercar.gov or an "acceptable" rating on iihs.org it is probably cheaper to insure.
Consider raising coverage deductibles - The deductibles you choose define how much you are required to spend if the claim is covered. Insurance for physical damage to your car, aka comp and collision, covers damage that occurs to your car. A few examples of covered claims are rear-ending another vehicle, animal collisions, and damage caused by road hazards. The more damage repair cost you are required to pay out-of-pocket, the lower your rates will be.
Consolidate policies to earn discounts - Most larger car insurance companies give better rates to buyers who buy several policies from them. It's known as a multi-policy discount. Even with this discount applied, consumers should still get quotes from other companies to ensure the best deal.
Avoid car insurance policy lapses - Going without insurance is a quick way to increase your car insurance rates. Not only will rates go up, the inability to provide proof of insurance could earn you fines or a revoked license. You may have to submit proof of financial responsibility or a SR-22 with the Kentucky department of motor vehicles.
Claims statistics for a Honda CR-V - Companies include the past claim history for a vehicle to help set a rate to offset losses. Models that have higher prevalence or dollar amount of losses will have higher rates.
The data below shows the historical insurance loss data for Honda CR-V vehicles. For each insurance policy coverage type, the loss probability for all vehicles as a whole equals 100. Numbers that are below 100 suggest a positive loss record, while numbers shown that are more than 100 point to more claims or tendency to have larger claims.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Honda CR-V 4dr 2WD||68||81||58||93||86||77|
|Honda CR-V 4dr 4WD||69||82||69||90||87||78|
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
How do I know if I need professional advice?
When it comes to buying your policy for your vehicles, there really isn't a one size fits all plan. Each situation is unique and your policy should reflect that. Here are some questions about coverages that might point out whether you might need professional guidance.
- Should I sign the liability waiver when renting a car?
- Why are teen drivers so expensive to add on to my policy?
- What discounts do I qualify for?
- Does my insurance cover a custom paint job?
- Are rock-chip repairs free?
- Do I have any recourse if my insurance company denies a claim?
- Are rock chip repairs covered?
- Is my state a no-fault state?
- What if an uninsured driver hits me?
- Does car insurance cover theft of personal property?
If you can't answer these questions but you know they apply to you, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, complete this form or you can go here for a list of companies in your area.
Quote more and you will save more
As you restructure your insurance plan, you should never reduce coverage to reduce premium. There are a lot of situations where an accident victim reduced collision coverage and found out when filing a claim they didn't purchase enough coverage. The proper strategy is to purchase plenty of coverage at the best possible price while not skimping on critical coverages.
We just covered many ideas to save on Honda CR-V insurance in Louisville. The key concept to understand is the more rate quotes you have, the better chance you'll have of finding the cheapest Honda CR-V rate quotes. Drivers may even discover the biggest savings come from a lesser-known regional company. Smaller companies may cover specific market segments cheaper than their larger competitors like State Farm and Allstate.
A few companies may not offer internet price quotes and these regional carriers prefer to sell through independent agencies. Affordable Honda CR-V insurance in Louisville is possible online in addition to many Louisville insurance agents, and you should compare rates from both to have the best chance of lowering rates.
Additional information is available on the following sites:
- Car Insurance: When not to Skimp (BankRate.com)
- Who Has Cheap Louisville Car Insurance for Used Cars? (FAQ)
- How Much are Auto Insurance Rates for Ride Shares in Louisville? (FAQ)
- Winter Driving (Insurance Information Institute)
- Tools for Teen Driving Safety (State Farm)
- Alcohol Impaired Driving FAQ (iihs.org)
- Property Damage Coverage (Liberty Mutual)