Save Money on Honda Fit Insurance in Durham

  1. Home
  2. >
  3. Durham Auto Insurance
  4. >
  5. Honda Fit

Honda Fit insurance
Honda Fit insurance image courtesy of

Insurance for Honda FitI doubt anyone looks forward to paying premiums for insurance, especially knowing they could find better prices if they shop around.

Remarkably, a study showed that most insurance buyers have bought insurance from the same company for at least four years, and nearly half have never even shopped around for affordable coverage. The average driver in Durham could save nearly $94 every year by just shopping around, but they just don't want to do a rate comparison.

Steps to buying cheaper Honda Fit insurance in Durham

The most effective way to get cheaper Honda Fit insurance is to begin comparing prices regularly from insurers in Durham.

  1. It will benefit you to learn about what is in your policy and the factors you can control to prevent expensive coverage. Many rating criteria that result in higher rates like accidents, traffic violations, and poor credit can be controlled by paying attention to minor details.
  2. Compare price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only quote rates from one company like Progressive or State Farm, while independent agents can quote prices for a wide range of insurance providers. View a list of agents
  3. Compare the new quotes to the price on your current policy and see if you can save money. If you find a better price and buy the policy, make sure coverage does not lapse between policies.
  4. Notify your current company of your decision to cancel your existing policy. Submit payment along with a signed and completed policy application to the new company. Once received, place the new proof of insurance paperwork with your vehicle's registration.

A good tip to remember is to compare the same amount of coverage on each quote and and to get rate quotes from as many companies as you can. This enables an accurate price comparison and maximum price selection.

Many auto insurance companies vie for your business, so it's not easy to compare every insurer and uncover the absolute best rates possible on Honda Fit insurance in Durham.

When quoting auto insurance, remember that obtaining a wide range of quotes will increase your chances of finding lower pricing.

The car insurance companies shown below offer price comparisons in North Carolina. If multiple companies are listed, we suggest you get rates from several of them to get a more complete price comparison.

Discounts for cheap auto insurance quotes

Auto insurance is not inexpensive, but you may find discounts that many consumers don't even know exist. Most are applied when you purchase, but occasionally some discounts must be inquired about prior to receiving the credit.Auto insurance discounts

  • Low Mileage - Driving fewer miles could qualify for discounted rates on garaged vehicles.
  • Early Signing - Some larger companies reward drivers for buying a new policy prior to your current Fit insurance policy expiring. The savings is around 10%.
  • Theft Prevention System - Cars equipped with anti-theft or alarm systems help deter theft and will save you 10% or more on Fit insurance in Durham.
  • Auto/Home Discount - If you have multiple policies with the same insurance company you could get a discount of up to 20% and get you the cheapest Honda Fit insurance in Durham.
  • Drivers Ed for Students - Teen drivers should successfully take a driver's education course in high school.

Don't be shocked that most of the big mark downs will not be given to the entire policy premium. Most only reduce specific coverage prices like collision or personal injury protection. Even though it appears all the discounts add up to a free policy, auto insurance companies aren't that generous.

The example below illustrates the comparison of Honda Fit car insurance costs with and without discounts. The price estimates are based on a male driver, no claims or driving citations, North Carolina state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-policy, homeowner, marriage, multi-car, and safe-driver discounts applied.

Large auto insurance companies and some of their more popular discounts are included below.

  • GEICO may offer discounts for driver training, military active duty, multi-vehicle, air bags, and emergency military deployment.
  • Mercury Insurance offers discounts for multi-car, location of vehicle, age of vehicle, good driver, accident-free, and good student.
  • Farmers Insurance has discounts for mature driver, good student, youthful driver, switch companies, alternative fuel, electronic funds transfer, and homeowner.
  • Auto-Owners Insurance discounts include paperless, anti-theft, good student, group or association, teen driver, anti-lock brakes, and multiple vehicles.
  • Liberty Mutual has savings for hybrid vehicle, new graduate, newly retired, safety features, new move discount, teen driver discount, and newly married.
  • SAFECO includes discounts for anti-theft, anti-lock brakes, teen safe driver, drive less, bundle discounts, safe driver, and accident prevention training.
  • Progressive offers premium reductions for multi-vehicle, homeowner, online signing, online quote discount, continuous coverage, and good student.
  • USAA offers discounts including loyalty savings, military installation, family discount, good student, and multi-vehicle.

If you need lower rates, check with every company which discounts you may be entitled to. Some discounts might not be offered everywhere. To find insurers that offer some of these discounts in Durham, follow this link.

Facts and figures for Honda Fit insurance

The premium table below covers different rate quotes for Honda Fit models. Learning how rates are formulated can be of help when making decisions when choosing a new policy provider.

Honda Fit Insurance Rates in Durham, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Fit $124 $240 $170 $10 $50 $594 $50
Fit Sport $142 $240 $170 $10 $50 $612 $51
Fit Sport VSA $142 $284 $170 $10 $50 $656 $55
Get Your Own Custom Quote Go

Data rating is based on married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Estimates do not factor in Durham location which can influence prices noticeably.

Physical damage deductibles

A question often asked by Durham drivers is how low should you set your deductibles. The comparison tables below may help you to understand the costs and benefits between high and low insurance deductibles. The first set of prices uses a $100 deductible for comp and collision and the second pricing table uses a $1,000 deductible.

Honda Fit insurance with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Fit $186 $386 $164 $10 $50 $821 $68
Fit Sport $214 $386 $164 $10 $50 $849 $71
Fit Sport VSA $214 $456 $164 $10 $50 $919 $77
Get Your Own Custom Quote Go
Honda Fit insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Fit $104 $204 $164 $10 $50 $532 $44
Fit Sport $118 $204 $164 $10 $50 $546 $46
Fit Sport VSA $118 $240 $164 $10 $50 $582 $49
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Rates do not factor in vehicle garaging location which can alter prices considerably.

Using the premium rates above, we can conclude that using a $100 deductible will cost you about $26 more each month or $312 each year than buying the higher $1,000 deductible. Because you would pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to have at a minimum 35 months between claims, you would most likely save money going with the higher deductible. The illustration below shows the way you can do this calculation yourself.

Average monthly premium for $100 deductibles: $72
Average monthly premium for $1,000 deductibles (subtract): - $46
Monthly savings from raising deductible: $26
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $26
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 35 months

One thing to note is that raising deductibles means you will have to pay more of your own money when you have a claim. That will necessitate enough money put aside in the event you need to pay the higher deductible.

Best auto insurance company in Durham

Choosing the best insurance company is hard considering how many companies sell insurance in Durham. The ranking information listed below may help you pick which car insurance companies you want to consider when looking for cheaper rates.

Top 10 Durham Car Insurance Companies Overall

  1. Travelers
  2. USAA
  3. AAA Insurance
  4. Nationwide
  5. Allstate
  6. State Farm
  7. The Hartford
  8. Safeco Insurance
  9. Progressive
  10. American Family

Top 10 Durham Car Insurance Companies Ranked by Claims Service

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

Components of Your Honda Fit Insurance Costs

Many things are part of the equation when you get your auto insurance bill. Most are fairly basic such as traffic violations, but other factors are less obvious such as your credit history or your vehicle rating.

Driving citations mean higher costs - Whether or not you get tickets impacts your car insurance rates tremendously. Getting just one speeding ticket may increase your cost by as much as twenty percent. Careful drivers get better prices than their less careful counterparts. Drivers with flagrant violations like reckless driving, hit and run or driving under the influence may be required to file a proof of financial responsibility form (SR-22) with their state in order to prevent their license from being revoked.

The example below demonstrates how speeding tickets and at-fault fender-benders can impact Honda Fit insurance prices for different age groups. The rate quotes are based on a single male driver, full physical damage coverage, $500 deductibles, and no discounts are applied.

Gender and insurance coverage premiums - Statistics demonstrate that females tend to be a little less risky than males. However, don't assume that males are worse at driving than females. Both genders get in fender benders in similar percentages, but the males have accidents that have higher claims. Men also tend to get more serious tickets such as driving while intoxicated (DWI) or driving recklessly.

The example below compares Honda Fit insurance premiums for male and female drivers. The premium estimates are based on no accidents or driving violations, comprehensive and collision coverage, $100 deductibles, single marital status, and no policy discounts are applied.

Can a thief steal your car? - Choosing to buy a car with a theft deterrent system can help lower your premiums. Theft prevention features such as LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system help track and prevent auto theft and help lower rates.

Physical damage deductibles are a factor - Physical damage deductibles represent how much money you are willing to pay out-of-pocket in the event of a claim. Coverage for physical damage, otherwise known as comp (or other than collision) and collision, insures against damage to your car. Some examples of covered claims are rear-ending another vehicle, vandalism, and damage from wind. The more money you're willing to pay, the bigger discount you will receive.

Reduce premiums by driving cars with good safety ratings - Vehicles with high crash test scores cost less to insure. Vehicles engineered for safety protect occupants better and lower injury rates translates into savings for insurance companies passed on to you as lower rates. If your Honda Fit earned at least an "acceptable" rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it is probably cheaper to insure.

Honda Fit insurance claim data - Car insurance companies analyze historical claim data when they calculate premium prices for each model. Models that historically have higher claim amounts or frequency will cost more for specific coverages. The data below shows the compiled insurance loss statistics for Honda Fit vehicles.

For each insurance policy coverage type, the claim probability for all vehicles, as an average, is a value of 100. Values that are below 100 mean the vehicle has better than average losses, while values that are 100 or greater indicate more frequent claims or an increased likelihood of larger losses.

Car Insurance Loss Data for Honda Fit Models
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Honda Fit 89 78 90 99 97 92

Data Source: (Insurance Institute for Highway Safety) for 2013-2015 Model Years