Want to know an easy way to compare lower-priced Honda CR-Z insurance in Norfolk? Pricey insurance in Norfolk can bottom out your monthly budget and put the squeeze on your family's finances.
Sad but true, the vast majority of insurance customers kept their policy with the same company for a minimum of four years, and approximately 40% of consumers have never compared quotes from other companies. Drivers in Norfolk could save themselves up to $500 a year by just shopping around, but most undervalue the amount of money they would save if they swap their current policy for a cheaper one. Due to the abundance of different company options, it is very difficult to find the most affordable insurance company.
Informed Consumers Know How to Buy Auto Insurance at a Discount
The best way to find cheaper auto insurance is to take a look at some of the things that go into determining your premiums. When you understand what controls the rates you pay, this enables informed choices that can earn you big savings. Many factors are part of the equation when pricing auto insurance. Some are pretty understandable like your driving record, but other criteria are more obscure such as your marital status or your vehicle rating.
Shown below are some of the major factors used by companies to determine premiums.
- Do safer cars cost less to insure? - Cars with five star safety ratings tend to be cheaper to insure. The safest vehicles protect occupants better and any reduction in injury severity means your insurance company pays less and cheaper rates on your policy. If your Honda has ratings of a minimum four stars on Safercar.gov you may be receiving a better rate.
- Being married can save you money - Your spouse may cut your premiums on auto insurance. Marriage usually means you are more financially stable and insurance companies like that married drivers tend to file fewer claims.
- Impacts performance impacts auto insurance prices - The make and model of the vehicle you are trying to find cheaper insurance for makes a substantial difference in your car insurance bill. The most favorable rates are for lower performance four cylinder passenger cars, but the final cost of insurance is determined by many other factors. Since the Honda CR-Z is classified as a passenger car, rates will be similar in price or lower compared to average rates in Norfolk.
- Vocation stress can affect premiums - Did you know your job can affect your rates? Careers such as military generals, social workers and accountants have the highest rates due to intense work-related stress and long work hours. On the other hand, jobs like professors, students and retirees receive lower rates.
- Allowing your policy to lapse raises prices - Not maintaining insurance can get you a ticket and you may have a hard time finding new coverage because you let your insurance coverage expire. In addition to paying higher rates, the inability to provide proof of insurance might get you fines or a revoked license. You may have to prove you have insurance by filing a SR-22 with the Virginia motor vehicle department to get your license reinstated.
- Keep prices low by being claim-free - Insurance companies in Virginia award discounts to people who do not file claims often. If you frequently file small claims, you can expect either higher rates or even cancellation. Auto insurance is designed for more catestrophic claims.
- Insurance losses for a Honda CR-Z - Car insurance companies analyze the history of losses to help determine the rate you pay. Vehicles that the data shows to have higher prevalence or dollar amount of losses will have increased rates. The table below illustrates the insurance loss data for Honda CR-Z vehicles.
For each type of coverage, the loss probablilty for all vehicles averaged together is equal to 100. Percentage values below 100 indicate better than average losses, while percentages above 100 point to more losses or an increased likelihood of larger losses.
Honda CR-Z Insurance Claim Statistics
Specific Honda Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Honda CR-Z Hybrid 106 87 83 98
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Cutting your auto insurance rates can be quick and easy. Just spend a few minutes on the computer comparing price quotes online with multiple companies.
It's so easy to compare price quotes online that it takes the place of having to spend your day driving to different agent offices. Comparing Honda CR-Z insurance rate quotes online eliminates the need for an insurance agent unless you have a need for the trained advice that only a licensed agent can provide. However, consumers can price shop online and get advice from an agent in your area.
The following companies have been selected to offer comparison quotes in Norfolk, VA. If multiple companies are listed, we recommend you get price quotes from several of them in order to get a fair rate comparison.
Be skeptical of insurance ads
Consumers get pounded daily by advertisements that promise big savings for switching from the likes of Progressive, Allstate and GEICO. They all have a common claim about how much you will save if you switch your coverage.
How do they all save you money on Honda CR-Z insurance in Norfolk?
Companies have a preferred profile for the right customer they prefer to insure. For instance, a driver they prefer could be over the age of 35, has had continuous coverage, and has great credit. Anybody that hits that "sweet spot" will get the preferred rates in Norfolk and will most likely save quite a bit of money when switching.
Insureds who fall short of the requirements may be forced to pay higher rates and this can result in the customer buying from someone else. If you listen closely, the ads state "people who switch" not "everyone who quotes" save that much when switching. That is how companies can make those statements.
This really drives home the point why drivers should compare free Norfolk car insurance quotes often. It's just too difficult to predict which company will fit you best based on your risk profile.
Insuring your Honda vehicle just makes sense
Even though it's not necessarily cheap to insure a Honda in Norfolk, maintaining insurance is required in Virginia but it also protects you in many ways.
- The majority of states have compulsory liability insurance requirements which means you are required to carry a specific level of liability if you don't want to risk a ticket. In Virginia these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
- If you have a lien on your Honda, almost every bank will have a requirement that you have physical damage coverage to protect their interest in the vehicle. If you let the policy lapse, the lender will be forced to insure your Honda at a significantly higher premium and require you to fork over for the expensive policy.
- Car insurance protects not only your car but also your financial assets. It will also pay for medical transport and hospital expenses for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, will also pay attorney fees if you cause an accident and are sued. If you have damage to your Honda as the result of the weather or an accident, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of having insurance definitely exceed the cost, especially for larger claims. Unknowingly, the average driver is overpaying over $820 a year so you should quote and compare rates at every renewal to ensure rates are inline.
Affordable rates on Honda CR-Z insurance in Norfolk with these auto insurance discounts
Some companies don't list the complete list of policy discounts very well, so we break down a few of the more common and also the lesser-known credits available to lower your premiums when you buy Norfolk car insurance online.
- Sign Early and Save - Select larger companies give a discount for switching companies prior to the expiration date on your current CR-Z insurance policy. This discount can save up to 10%.
- Online Discount - A few larger online companies will discount your bill up to fifty bucks for signing up digitally online.
- Life Insurance Discount - Not every insurance company offers life insurance, but if they do you may earn a lower price if you buy some life insurance too.
- Payment Discounts - If you pay your entire premium ahead of time instead of monthly or quarterly installments you can actually save on your bill.
- ABS Brakes - Cars with ABS and/or traction control can reduce accidents and therefore earn up to a 10% discount.
- Drivers Education - It's a good idea to have your young drivers successfully complete driver's ed class if it's offered in school.
- Discount for Good Grades - Being a good student can get you a discount of up to 25%. This discount can apply until age 25.
- Low Mileage Discounts - Low annual miles can qualify you for substantially lower premium rates.
One thing to note about discounts is that most of the big mark downs will not be given to the entire policy premium. The majority will only reduce the cost of specific coverages such as medical payments or collision. So even though they make it sound like having all the discounts means you get insurance for free, nobody gets a free ride. Any amount of discount should help lower your overall bill.
A partial list of companies that may offer quotes with these discounts are:
When quoting, ask each insurance company how you can save money. Some discounts might not be available to policyholders in your state.
Can't I compare rate quotes from local Norfolk auto insurance agents?
Many drivers just want to go talk to an agent and that can be a great decision Professional insurance agents can point out coverage gaps and help in the event of a claim. The best thing about comparing insurance prices online is that you can find the best rates and also buy local. Supporting local agents is still important in Norfolk.
By using this simple form, your coverage information gets sent to companies in Norfolk who will give you bids to get your business. You won't even need to drive around since rate quotes are delivered to you instantly. If you wish to get a price quote for a specific company, feel free to navigate to their website and give them your coverage information.
If you are wanting to find a good insurance agency, you must know there are a couple types of insurance agents and how they are slightly different. Norfolk agents are classified as either independent or exclusive depending on the company they work for. Either one can properly insure your vehicles, but it is a good idea to know the difference in the companies they write for because it can factor into which type of agent you select.
Independent Car Insurance Agents
These agents are not restricted to one company so they can write business with lots of companies and find the cheapest car insurance rates. If your agent finds better pricing, they simply switch companies in-house without you having to go to a different agency.
When searching for an agent, you absolutely need to get several quotes from at least one independent agent to get the best comparison.
Featured below is a small list of independent agencies in Norfolk that may be able to give you competitive price quotes.
Exclusive Car Insurance Agencies
Agents that elect to be exclusive are contracted to one company like State Farm or Allstate. These agents are not able to compare rates from other companies so you might not find the best rates. They are usually quite knowledgeable on sales techniques and that enables them to sell even at higher rates.
Listed below are Norfolk exclusive insurance agencies that can give you price quotes.
Finding a good auto insurance agent needs to be determined by more than just the price. These are some questions your agent should answer.
- Do the companies they represent have a solid financial rating?
- Which companies do they recommend if they are an independent agency?
- Do they reduce claim amounts on high mileage vehicles?
- If you raise deductibles, how much can you save?
- Do they offer claims assistance after hours?
When should I discuss my situation with an agent?
When it comes to choosing a policy for your personal vehicles, there really is not a best way to insure your cars. Each situation is unique.
For instance, these questions may help highlight if you could use an agent's help.
- What discounts do I qualify for?
- When should I remove my kid from my policy?
- Can I use my car for my catering business?
- Are all vehicle passengers covered by medical payments coverage?
- How much cheaper are high deductibles?
- What if I total my Honda CR-Z and owe more than it's worth?
- Can good grades get a discount?
- Should I get collision insurance on every vehicle?
If it's difficult to answer those questions but you think they might apply to your situation, you might consider talking to an insurance agent. If you want to speak to an agent in your area, simply complete this short form. It is quick, free and can provide invaluable advice.
Frequent quotes can save
Throughout this article, we presented many ways to save on Honda CR-Z insurance in Norfolk. It's most important to understand that the more companies you get rates for, the more likely it is that you will get a better rate. You may even find the best price on auto insurance is with the smaller companies.
People leave their current company for any number of reasons including high rates after DUI convictions, delays in responding to claim requests, an unsatisfactory settlement offer and even denial of a claim. Whatever your reason, choosing a new company is pretty easy and you might even save some money in the process.
The cheapest Honda CR-Z insurance in Norfolk is attainable online in addition to local insurance agencies, and you should be comparing both to have the best rate selection. A few companies do not provide the ability to get quotes online and usually these small, regional companies only sell through independent agencies.
More tips and info about auto insurance is located at these sites:
- Help Your Teen Be a Better Driver (State Farm)
- Which Company has the Cheapest Auto Insurance in Reston, Virginia? (FAQ)
- What is the Best Cheap Car Insurance in Hampton, VA? (FAQ)
- Who Has Cheap Car Insurance in Virginia? (FAQ)
- What Car Insurance is Cheapest for Drivers with Accidents in Virginia? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Government Employees in Virginia? (FAQ)
- What is the Cheapest Car Insurance in Dale City, Virginia? (FAQ)
- Who Has Cheap Car Insurance Quotes for a GMC Sierra in Virginia? (FAQ)
- What is the Best Cheap Car Insurance in Richmond, Virginia? (FAQ)
- What Does No-Fault Insurance Cover? (Allstate)
- Teen Driving Statistics (GEICO)
- Where can I buy Insurance? (Insurance Information Institute)