Being forced to pay for pricey insurance premiums can diminish your savings and put the squeeze on your family's finances. Comparing cost estimates is a great way to cut your insurance bill.
Unbelievble but true, a large majority of consumers have remained with the same insurance company for at least the last four years, and just short of a majority have never compared rates to find cheap insurance. U.S. insurance shoppers could save up to $860 every year by just shopping around, but most undervalue the amount of savings they would get if they switched to a more affordable policy.
There is such a variety of car insurance companies to buy insurance from, and even though it's nice to have a choice, having more insurers makes it harder to find a good deal for Honda CR-V insurance in Norfolk.
When looking for the cheapest Honda CR-V rate quotes, there are a couple ways to get quotes from many available auto insurance companies in Virginia. The simplest method to find the lowest Honda CR-V rates is to get quotes online.
Online shopping is fast and free, and it makes it a waste of time to make phone calls or go to all the different Norfolk insurance agencies. The internet eliminates the middleman unless you have a complicated situation and need the personal advice that only an agent can give. However, consumers can comparison shop online but buy from a local insurance agent. Keep in mind that comparing all the rates in your area provides better odds of finding lower pricing. Some smaller insurers do not give Norfolk CR-V insurance quotes over the internet, so you also need to get price estimates from the smaller companies as well.
The following companies have been selected to offer free quotes in Virginia. If several companies are displayed, it's highly recommended you click on several of them to get the most affordable price.
Norfolk insurance discounts for a Honda CR-V
Buying insurance is not cheap, but there could be available discounts that you may not know about. Most are applied when you quote, but a few must be manually applied before you get the savings.
- Pay Now and Pay Less - If you pay your bill all at once as opposed to paying monthly you could save 5% or more.
- College Student - College-age children who live away from home at college and won't have access to an insured vehicle may qualify for this discount.
- Discount for Passive Restraints - Vehicles equipped with air bags could see savings of more than 20%.
- Discount for Good Grades - Maintaining excellent grades can earn a discount of 20% or more. The discount lasts well after school through age 25.
- Active Military Service - Having a family member in the military could mean lower premium rates.
- Claim Free - Insureds with no claims or accidents have much lower rates in comparison with policyholders that have many claims.
Policy discounts save money, but most of the big mark downs will not be given to the entire policy premium. Some only apply to individual premiums such as liability, collision or medical payments. Just because it seems like having all the discounts means you get insurance for free, that's just not realistic. But all discounts should help lower the cost of your policy.
A few popular companies and the discounts they provide can be read below.
- GEICO has savings for anti-lock brakes, daytime running lights, air bags, federal employee, military active duty, membership and employees, and five-year accident-free.
- Auto-Owners Insurance includes discounts for paid in full, student away at school, multi-policy, good student, safe driver, anti-lock brakes, and anti-theft.
- American Family has discounts for mySafetyValet, Steer into Savings, early bird, bundled insurance, good student, and multi-vehicle.
- Esurance may have discounts that include claim free, safety device, multi-car, Switch & Save, online quote, and DriveSense.
- Progressive may offer discounts for multi-policy, online signing, homeowner, multi-vehicle, good student, and continuous coverage.
- State Farm offers discounts including multiple policy, accident-free, good driver, good student, passive restraint, safe vehicle, and multiple autos.
- AAA offers discounts for good student, multi-policy, anti-theft, AAA membership discount, multi-car, good driver, and pay-in-full.
Check with every company which credits you are entitled to. Some of the discounts discussed earlier may not apply to policyholders in Norfolk. To locate companies with significant discounts in Virginia, click this link.
Buying from insurance agencies
Certain consumers would rather get professional advice from a licensed agent and there is nothing wrong with that. The best thing about comparing rates online is the fact that you can find lower rates and still have a local agent.
After filling out this short form, your information gets sent to agents in your area that can give you free Norfolk car insurance quotes for your coverage. It's much easier because you don't need to even leave your home due to the fact that quote results will go to you directly. You'll get the best rates and an insurance agent to talk to. If for some reason you want to quote rates from a particular provider, you just need to find their quoting web page and give them your coverage information.
Picking a company needs to be determined by more than just the quoted price. Agents should be asked these questions:
- Are they in the agency full-time?
- Do they get extra compensation for selling add-on coverages?
- How much training do they have in personal risk management?
- Which insurance company do they prefer to write with?
- Is there a Errors and Omissions policy in force?
- Will they give you a referral list?
- What are their preferred companies if they are an independent agency?
- Are they primarily personal or commercial lines agents in Norfolk?
After you get answers to your satisfaction to your questions and an affordable coverage quote, chances are good that you have found an insurance company that is reliable enough to adequately provide car insurance. Just be aware that you have the power to terminate your policy any time you want so don't feel that you are obligated to a specific agent for the full term.
What Determines Honda CR-V Insurance Rates?
An important part of buying insurance is that you know some of the elements that play a part in calculating your policy premiums. If you know what influences your rates, this empowers consumers to make smart changes that could result in lower premium levels. Lots of factors are part of the calculation when you get your auto insurance bill. Some of the criteria are obvious like an MVR report, although others are more transparent such as your credit history or your commute time.
Vehicles with better crash test results save money - Cars with high safety ratings are cheaper to insure. The safest vehicles have better occupant injury protection and better occupant protection means lower claim amounts and thus lower rates.
Prices increase with policy add-ons - There are a ton of additional extra coverages that can waste your money if you aren't diligent. Insurance for rental car coverage, high-cost glass coverage, and Farm Bureau memberships may not be needed and are just wasting money. They may seem like a good idea initially, but your money might be better spent on other coverage so eliminate them to save money.
Higher coverage deductibles cost less - The deductibles state the amount of money you are willing to pay if a covered claim is submitted. Physical damage insurance, also called 'full coverage', covers damage that occurs to your car. Some examples of claims that would be covered are a windshield broken by a bird, damage from fire, and damage caused by road hazards. The higher the amount the insured is willing to pay, the less your company will charge you for insurance.
Cheaper rates using alarms and GPS tracking - Purchasing a vehicle that has an advanced theft prevention system can help lower your premiums. Theft prevention features like GM's OnStar, tamper alarm systems and vehicle immobilizers can thwart your car from being stolen.
Obey driving laws and save - Your driving record has a huge affect on how much you pay. Good drivers have lower premiums as compared to those with violations. Even one speeding ticket can boost insurance rates by as much as twenty percent. Drivers who have severe violations like reckless driving or DUI may face state-mandated requirements to maintain a SR-22 with their state motor vehicle department in order to legally drive a vehicle.
Insurance loss probability for a Honda CR-V - Insurers analyze claim trends for every vehicle when setting premium costs. Models that historically have increased losses will have a higher cost to insure.
The next table illustrates the insurance loss data for Honda CR-V vehicles. For each coverage category, the statistical loss for all vehicles, without regard to make or model, is set at 100. Numbers under 100 imply a favorable loss record, while percentages above 100 indicate a higher chance of having a claim or tendancy to have higher losses.
Honda CR-V Insurance Loss Statistics
|Vehicle 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 from IIHS.org for 2013-2015 Model Years
Three main reasons to buy auto insurance
Despite the fact that auto insurance is not cheap in Norfolk, auto insurance is not optional due to several reasons.
- The majority of states have mandatory insurance requirements which means you are required to buy specific limits of liability protection in order to drive the car legally. 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 your Honda has a lienholder, almost every bank will force you to buy full coverage to ensure the loan is repaid in case of a total loss. If the policy lapses, the bank may buy a policy for your Honda at an extremely high rate and make you pay much more than you were paying before.
- Auto insurance protects not only your vehicle but also your assets. It will also cover medical bills for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses in the event you are sued. If mother nature or an accident damages your car, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.
The benefits of carrying enough insurance definitely exceed the price paid, especially for larger claims. On average, a vehicle owner in Norfolk is currently overpaying as much as $869 every year so we recommend shopping around once a year at a minimum to be sure current rates are still competitive.
Cheaper car insurance premiums are out there
In this article, we presented some good ideas how to find lower-cost Honda CR-V insurance in Norfolk. The most important thing to understand is the more price quotes you have, the more likely it is that you will get a better rate. Drivers may even discover the best price on car insurance is with a lesser-known regional company. These companies often have lower rates on specific markets as compared to the big name companies such as State Farm, GEICO and Nationwide.
When you buy Norfolk car insurance online, never reduce needed coverages to save money. Too many times, someone dropped liability coverage limits and learned later that it was a big mistake. The goal is to get the best coverage possible for the lowest cost, but don't skip important coverages to save money.
Much more information about car insuranceVirginia is located at these links:
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- How Can I Save Money on Auto Insurance? (Insurance Information Insitute)
- Rollover Crash FAQ (iihs.org)
- Drunk Driving Statistics (Insurance Information Insitute)
- How to Avoid Buying a Flooded Car (Insurance Information Insitute)