Cheapest Insurance for a Honda Fit in Louisville

Are you researching the cheapest Honda Fit insurance in Louisville? Nobody that owns a car enjoys paying for car insurance, especially when they are aware that the price is too high.

Insurance for Honda FitAnyone knows that auto insurance companies want to keep you from comparing rates. People who compare other prices are likely to switch car insurance companies because there are good odds of finding a more affordable policy. A recent car insurance study revealed that consumers who compared price quotes annually saved on average $3,500 over four years compared to policyholders who never shopped around for better prices.

If finding the cheapest price for Honda Fit insurance in Louisville is your ultimate target, then learning about how to choose a company and compare auto insurance can make it simple to find affordable coverage.

How to buy affordable Honda Fit insurance in Louisville

If you want to save the most money, the best way to find low-cost prices for Honda Fit insurance in Louisville is to regularly compare prices from insurance carriers that insure vehicles in Kentucky.

  1. Take a few minutes and learn about car insurance and the measures you can control to lower rates. Many rating criteria that cause rate increases such as speeding tickets, accidents and your credit history can be controlled by making lifestyle changes or driving safer. Continue reading for more ideas to get lower rates and get bigger discounts.
  2. Quote rates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only quote rates from one company like GEICO and State Farm, while agents who are independent can provide price quotes for many different companies. View insurance agents
  3. Compare the new rate quotes to the premium of your current policy and see if you can save money. If you can save money, ensure there is no coverage lapse between policies.

A valuable tip to remember is to make sure you’re comparing similar coverage information on each price quote and and to get quotes from every insurance company. Doing this provides the most accurate price comparison and a complete price analysis.

Vehicle owners have multiple auto insurance companies to purchase coverage from, and though it is a good thing to have multiple companies, having more insurers makes it harder to find the best rates for your vehicles.

It’s important to do rate comparisons periodically due to the fact that insurance prices are constantly changing. Just because you found the best deal on Honda Fit insurance in Louisville two years ago you can probably find a better premium rate now. There is a lot of bad information regarding Fit insurance on the internet, but by reading this article, you’re going to learn some of the best ways to buy car insurance cheaper in Louisville.

Coverage information

The information below outlines estimates of insurance premium costs for Honda Fit models. Learning how rate quotes are figured can help customers make informed purchases.

Honda Fit Insurance Rates in Louisville, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Fit $250 $426 $282 $16 $84 $1,058 $88
Fit Sport $288 $426 $282 $16 $84 $1,096 $91
Fit Sport VSA $288 $500 $282 $16 $84 $1,170 $98
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Data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Rates do not factor in specific Louisville garaging location which can affect premium rates considerably.

Should you raise deductibles?

When comparing auto insurance rates, the most common question is how high should the physical damage deductibles be. The data tables below approximate how much more rates are when you choose different physical damage deductibles. The first data table uses a $250 deductible for comprehensive and collision coverage and the second data table uses a $500 deductible.

Honda Fit insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Fit $220 $426 $216 $12 $64 $963 $80
Fit Sport $252 $426 $216 $12 $64 $995 $83
Fit Sport VSA $252 $500 $216 $12 $64 $1,069 $89
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Honda Fit insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Fit $178 $342 $216 $12 $64 $812 $68
Fit Sport $206 $342 $216 $12 $64 $840 $70
Fit Sport VSA $206 $404 $216 $12 $64 $902 $75
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Table data does not factor in specific location which can increase or decrease premiums significantly.

Using the premium rates above, we can conclude that using a $250 deductible costs about $13 more each month or $156 annually than opting for the higher $500 deductible. Since the policyholder would be required to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you normally average more than 19 months between claim filings, you would more than likely save some money if you opt for a higher deductible.

Calculation for raising deductibles

Average monthly premium for $250 deductibles: $84
Average monthly premium for $500 deductibles (subtract): – $71
Monthly savings from raising deductible: $13
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $13
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 19 months

An important thing to remember is that higher deductibles results in having to pay to pay more out-of-pocket at claim time. That will force you to have some money saved in order to pay more to get your vehicle repaired.

Impact of careless driving on Louisville auto insurance rates

The example below shows how traffic citations and at-fault accidents can impact Honda Fit auto insurance rates for different age groups of insureds. The information is based on a single male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.

Best car insurance in Louisville

Choosing a good quality car insurance company can be difficult considering how many companies there are in Kentucky. The rank data listed below can help you pick which car insurance providers to look at when shopping around.

Top 10 Louisville Car Insurance Companies Ranked by Value

  1. Mercury Insurance
  2. Travelers
  3. American Family
  4. AAA Insurance
  5. Safeco Insurance
  6. Progressive
  7. The Hartford
  8. Erie Insurance
  9. Esurance
  10. The General

Top 10 Louisville Car Insurance Companies Ranked by Claims Service

  1. Travelers
  2. Allstate
  3. Nationwide
  4. State Farm
  5. GEICO
  6. Liberty Mutual
  7. American Family
  8. Esurance
  9. AAA Insurance
  10. Titan Insurance

Car insurance coverage basics

Having a good grasp of car insurance can be of help when determining appropriate coverage and the correct deductibles and limits. Car insurance terms can be confusing and reading a policy is terribly boring.

Liability – This coverage will cover damage that occurs to people or other property. It protects YOU against other people’s claims. It does not cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 25/50/10 which means a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and a total limit of $10,000 for damage to vehicles and property.

Liability coverage pays for claims such as emergency aid, repair costs for stationary objects, bail bonds and loss of income. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as high a limit as you can afford. Kentucky requires drivers to carry at least 25/50/10 but it’s recommended drivers buy higher limits.

The chart below demonstrates why minimum state limits may not be adequate coverage.

Collision coverage – Collision insurance covers damage to your Fit from colliding with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims such as crashing into a building, rolling your car, hitting a parking meter, sustaining damage from a pot hole and backing into a parked car. This coverage can be expensive, so you might think about dropping it from older vehicles. Another option is to bump up the deductible on your Fit to save money on collision insurance.

Medical payments and PIP coverage – Coverage for medical payments and/or PIP provide coverage for immediate expenses like ambulance fees, X-ray expenses, dental work, nursing services and hospital visits. They are often utilized in addition to your health insurance policy or if you lack health insurance entirely. Coverage applies to all vehicle occupants as well as any family member struck as a pedestrian. PIP coverage is not available in all states but can be used in place of medical payments coverage

UM/UIM (Uninsured/Underinsured Motorist) coverage – This coverage provides protection from other motorists when they do not carry enough liability coverage. Covered claims include injuries to you and your family as well as damage to your Honda Fit.

Since many Kentucky drivers have only the minimum liability required by law (25/50/10 in Kentucky), their limits can quickly be used up. So UM/UIM coverage is a good idea.

Comprehensive auto coverage – This coverage covers damage that is not covered by collision coverage. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers things such as hitting a deer, fire damage, rock chips in glass and hail damage. The highest amount your car insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

One last note

Insureds who switch companies do it for many reasons like being labeled a high risk driver, an unsatisfactory settlement offer, unfair underwriting practices and even delays in responding to claim requests. Regardless of your reason for switching companies, finding a great new company can be easier than you think.

We just covered some good ideas how you can save on Honda Fit insurance in Louisville. The most important thing to understand is the more quotes you get, the higher your chance of finding low cost Louisville car insurance quotes. You may even be surprised to find that the most savings is with some of the smallest insurance companies.

Cost effective Honda Fit insurance is attainable both online and from local insurance agents, so you should be comparing quotes from both in order to have the best chance of saving money. A few companies may not offer online quoting and many times these smaller companies sell through local independent agents.

How to find the cheapest rates for Honda Fit insurance in Louisville

If you want to save the most money, the best way to find lower priced Honda Fit insurance in Louisville is to make a habit of regularly comparing prices from insurers who can sell car insurance in Kentucky.

One important bit of advice is to try to compare identical limits and deductibles on every price quote and and to get quotes from all possible companies. Doing this helps ensure a fair price comparison and the best price selection.

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