Save Money on Honda CR-V Insurance in Durham

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Insurance quote for Honda CR-V in DurhamIt's a known fact that insurance companies want to keep you from comparing prices. Consumers who compare rates annually will most likely switch car insurance companies because there is a good probability of finding a lower rate. A recent survey revealed that consumers who regularly compared price quotes saved as much as $865 annually compared to those who never compared prices.

If finding the most affordable Honda CR-V insurance in Durham is your target objective, then having some insight into how to quote and compare car insurance can make it easier to shop your coverage around.

If you want to save money, the best way to find affordable quotes for Honda CR-V insurance in Durham is to regularly compare price quotes from insurers who sell auto insurance in North Carolina.

  1. Spend some time learning about how your policy works and the steps you can take to lower rates. Many policy risk factors that cause high rates such as traffic violations and a not-so-good credit rating can be improved by making minor changes to your lifestyle.
  2. Get rate quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from a single company like Progressive or Allstate, while independent agents can provide prices for a wide range of companies.
  3. Compare the new rates to your current policy premium to see if a cheaper rate is available in Durham. If you find a lower rate, make sure there is no lapse in coverage.
  4. Give notification to your agent or company of your intent to cancel your existing policy and submit a down payment along with a completed application for your new coverage. Once coverage is bound, safely store the certificate of insurance in a readily accessible location in your vehicle.

One thing to remember is to try to compare the same coverage limits and deductibles on every quote request and and to compare as many companies as feasibly possible. Doing this ensures a level playing field and a complete price analysis.

Coverage information

The premium information shown next highlights a range of insurance rates for Honda CR-V models. Understanding more about how premiums are established can be of help when making informed decisions when comparing rate quotes.

Honda CR-V Insurance Rates in Durham, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $152 $264 $286 $16 $86 $804 $67
CR-V EX 2WD $152 $264 $286 $16 $86 $804 $67
CR-V LX 4WD $152 $264 $286 $16 $86 $804 $67
CR-V EX 4WD $174 $264 $286 $16 $86 $826 $69
CR-V EX-L 2WD $174 $264 $286 $16 $86 $826 $69
CR-V EX-L 4WD $174 $264 $286 $16 $86 $826 $69
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Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, multi-vehicle, and homeowner. Price information does not factor in the specific area where the vehicle is garaged which can decrease or increase auto insurance rates greatly.

Higher deductibles lower rates

When comparing car insurance rates, the most common question is which deductible level should you buy. The data tables below determine the difference in cost between low and high coverage deductibles. The first rate table uses a $250 deductible for comp and collision and the second rate chart uses a $1,000 deductible.

Honda CR-V insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $168 $266 $212 $12 $64 $747 $62
CR-V EX 2WD $168 $266 $212 $12 $64 $747 $62
CR-V LX 4WD $168 $266 $212 $12 $64 $747 $62
CR-V EX 4WD $192 $266 $212 $12 $64 $771 $64
CR-V EX-L 2WD $192 $266 $212 $12 $64 $771 $64
CR-V EX-L 4WD $192 $266 $212 $12 $64 $771 $64
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Honda CR-V insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $104 $168 $212 $12 $64 $560 $47
CR-V EX 2WD $104 $168 $212 $12 $64 $560 $47
CR-V LX 4WD $104 $168 $212 $12 $64 $560 $47
CR-V EX 4WD $118 $168 $212 $12 $64 $574 $48
CR-V EX-L 2WD $118 $168 $212 $12 $64 $574 $48
CR-V EX-L 4WD $118 $168 $212 $12 $64 $574 $48
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Data rating is 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, homeowner, claim-free, multi-policy, and safe-driver. Price estimates do not factor in specific location which can influence coverage rates considerably.

Based on these figures, using a $250 deductible costs an average of $15 more each month or $180 for a full year averaged for all CR-V models than buying the higher $1,000 deductible. Since you would pay $750 more to file a claim with a $1,000 deductible as compared to a $250 deductible, if you have at least 50 months between claim filings, you would more than likely save some money if you choose a higher deductible.

The chart below shows how choosing a deductible and can change Honda CR-V insurance costs for different age groups of insureds. The premiums assume a married male driver, full physical damage coverage, and no discounts are applied to the premium.

Annual premiums for males compared to females

The diagram below shows the difference between Honda CR-V car insurance rates for male and female drivers. The data assumes no claims or driving citations, full physical damage coverage, $250 deductibles, drivers are single, and no additional discounts are factored in.

How You Can Control Honda CR-V Insurance Rates

Multiple criteria are considered when premium rates are determined. Some factors are common sense like an MVR report, but some are more transparent such as your credit history or your financial responsibility. Smart consumers have a good feel for some of the things that are used to determine your policy premiums. When you know what positively or negatively determines premiums, this enables you to make decisions that can earn you much lower annual insurance costs.

  • Bump up physical damage deductibles to lower rates - Coverage for physical damage, also known as collision and other-than-collision, is used to repair damage to your vehicle. Some examples of claims that would be covered are collision with another vehicle, damage caused by hail, and having your car stolen. Comp and collision deductibles are how much you are required to spend out-of-pocket if a covered claim is submitted. The more money you have to pay, the less your company will charge you for insurance.
  • Bad driving leads to higher costs - Even one chargeable violation may cause rates to rise substantially. Good drivers get better rates than their less careful counterparts. Drivers with multiple violations such as reckless driving, hit and run or driving under the influence may face state-mandated requirements to submit a SR-22 form with their state DMV in order to drive a vehicle legally.

    The diagram below demonstrates how speeding tickets and at-fault claims can drive up Honda CR-V auto insurance costs for different age categories. The data is based on a single male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are taken into consideration.

  • Prices are impacted by vehicle performance - The type of car or truck you own makes a substantial difference in your premium level. The cheapest rates are generally reserved for economy passenger vehicles, but other factors influence the final cost greatly.

    The data below uses these variables: married male driver age 50, full coverage with $250 deductibles, and no discounts or violations. It shows Honda CR-V insurance rates compared to other makes and models that have a range of risk factors.

  • Limits of liability - Your car insurance policy's liability coverage is the coverage that protects you when you are found liable for causing damage or personal injury in an accident. Your policy's liability insurance provides you with a defense in court which can cost a lot. Liability insurance is pretty cheap as compared to coverage for physical damage, so drivers should carry high limits.
  • See if your company offers a multi-policy discount - Most larger car insurance companies apply better rates to buyers that purchase more than one policy in the form of a multi-policy discount. Discounts can amount to ten percent or more. Even if you qualify for this discount already, it's still a good idea to check prices from other companies to help ensure you have the lowest rates.
  • Better premiums on safer vehicles - Safe vehicles are cheaper to insure. The safest vehicles reduce injuries and fewer injuries translates directly to fewer claims which can result in lower premiums. If your Honda CR-V scored at minimum an "acceptable" rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may be receiving lower rates.
  • Annual mileage impacts rates - Driving more miles every year the higher your rates will be. Most companies charge to insure your cars based upon how the vehicle is primarily used. Cars that are left in the garage cost less to insure than those used for commuting. An incorrectly rated CR-V is just wasting money. It's always a good idea to double check that your car insurance coverage is rated on the correct driver usage.
  • Honda CR-V historical loss data - Car insurance companies analyze historical claim data to determine a price that will be profitable for them. Vehicles that historically have a higher amount or frequency of claims will have increased rates. The information below illustrates the compiled insurance loss statistics for Honda CR-V vehicles.

    For each coverage type, the statistical loss for all vehicles compiled together is a value of 100. Values that are below 100 represent a good loss history, while values that are above 100 indicate higher probability of having a loss or statistically larger losses.

    Honda CR-V Insurance Claim 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 Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

One last thing about your coverage

We just covered many tips how you can lower your Honda CR-V insurance premium rates in Durham. The most important thing to understand is the more quotes you get, the better chance you'll have of finding the cheapest Honda CR-V rate quotes. You may even find the biggest savings come from a small mutual company.

Consumers change insurance companies for many reasons like not issuing a premium refund, delays in paying claims, poor customer service and even high rates after DUI convictions. Regardless of your reason, choosing a new insurance company is easier than you think.

Some insurance companies may not offer online price quotes and most of the time these small, regional companies work with local independent agencies. Affordable Honda CR-V insurance in Durham is attainable both online in addition to many Durham insurance agents, so you need to compare both to have the best rate selection.

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