Buying affordable insurance for a Honda Accord is pretty easy for most people to do, but it relies on a pretty complex algorithm that uses a lot of factors such as how safe your vehicle is, whether or not you have filed claims in the past, and if you have tickets or violations. New Jersey drivers pay approximately $1,360 annually for Accord insurance, but that amount is an estimate based on a 40-year-old married male driver with full physical damage coverage and $250 deductibles.
The issue that arises when projecting rates is that it's very likely that you're not a 40-year-old male, single instead of married, or maybe you prefer higher deductibles. Every driver's needs are different, and that is why the only real way to find cheap car insurance rates for your Honda is to compare as many rates as you can.
The specific trim level tends to impact the yearly cost, so the rate you pay to insure a Accord LX 4-Dr Sedan model will be $484 lower than the price to insure the more costly Accord EX-L 2-Dr Coupe model, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Accord LX 4-Dr Sedan||$294||$474||$420||$24||$126||$1,338||$112|
|Accord EX 4-Dr Sedan||$294||$474||$420||$24||$126||$1,338||$112|
|Accord LX-P 4-Dr Sedan||$294||$474||$420||$24||$126||$1,338||$112|
|Accord EX-L 4-Dr Sedan||$338||$576||$420||$24||$126||$1,484||$124|
|Accord EX 2-Dr Coupe||$338||$678||$560||$34||$168||$1,778||$148|
|Accord LX-S 2-Dr Coupe||$338||$678||$560||$34||$168||$1,778||$148|
|Accord EX-L 2-Dr Coupe||$382||$678||$560||$34||$168||$1,822||$152|
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Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Premium amounts do not factor in zip code location which can increase or decrease premium rates greatly.
Deciding which companies have the best auto insurance rates for a Honda Accord will take more work than just picking a company at random. Each company uses a slightly different approach to determine rates, so to begin we'll rank the most affordable auto insurance companies in Newark.
We do need to point out that Newark, NJ auto insurance rates are based on many factors which can substantially decrease or increase the cost of having a policy. Turning one year older, buying a different vehicle, or getting a ticket for running a stop sign can cause premium changes resulting in some companies being cheaper than competitors.
Cheap Insurance Rates for Your Accord
21st Century quotes some of the lowest car insurance rates in Newark at around $1,078 each year. Travelers, New Jersey Manufacturers, Penn National, and Palisades are also some of the lowest-priced Newark, NJ car insurance companies.
In the rate table above, if you currently have a policy with New Jersey Manufacturers and switched to 21st Century, you might see an annual premium reduction of in the neighborhood of $232. Customers with Penn National may save as much as $260 a year, and Palisades policyholders might cut rates by $304 a year.
If you want to see how much you could save, click here to get a free quote or quote rates from the companies below.
These policy rates are averaged across all ages of drivers and types of vehicles and do not factor in an exact location for a Honda Accord. So the car insurance company that fits your needs best may not even be in the list above. That point stresses why you need to compare rates from as many companies as possible using your own personal information and vehicle type.
Drive safe and save
The easiest method to enjoy affordable auto insurance rates in New Jersey for an Accord is to be a cautious driver and avoid accidents and violations. The chart below illustrates how traffic citations and accidents impact insurance premiums for each different age category. The rate quotes are based on a single female driver, comprehensive and collision coverage, $1,000 deductibles, and no other discounts are factored in.
In the prior example, the average cost of auto insurance per year with a clean driving record and no accidents is $2,559. Get written up for one speeding ticket and the average cost rises to $2,906, an increase of $347 each year. Then add one accident along with the one speeding ticket and the annual cost of auto insurance for a Honda Accord increases to an average of $3,875. That's an increase of $1,316, or $110 per month, just for not paying attention while driving!
What aren't you shopping around?
New Jersey auto insurance rates are based on many factors which can substantially change your annual premium. Simply turning a year older, moving to a different location, or getting a couple of tickets may cause policy rate changes that can make some companies much cheaper than others.
And not only may your rating factors change, but auto insurance companies file new New Jersey auto insurance rates as needed to reflect underwriting profits or losses. Higher than normal claims may result in higher priced premiums, while a profitable period may produce lower-cost Accord insurance rates.
To illustrate this point, the graph below shows which companies have the cheapest car insurance in Newark, NJ for a 35-year-old female driver with no accidents or violations, and a good credit history. If we compare prices based on her current situation, 21st Century has the most affordable car insurance rates in Newark at $1,592 per year. This is $260 less than the average policy premium paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Penn National, and Palisades round out the rest of the best Newark, NJ auto insurance companies.
Let's now give the driver in the first chart some claims, a lower credit rating, and a few traffic violations. Due to the fact that every insurance company has their own process to set premium rates, getting updated rate quotes may now show a slightly different list of the cheapest companies as shown below.
Allstate now has the best price in Newark, NJ with California Casualty, USAA, Mercury, and Travelers now being in the top five. This demonstrates why it is so important to compare rates when trying to get the lowest auto insurance rates for a Honda Accord. Prices are impacted by many different factors and can change substantially, so the cheapest rate the last time you shopped around may now be costing you a lot of money.
If you like to have professional advice when comparing insurance rates for a Honda Accord, the insurance agencies listed below can aid you in deciding which auto insurance policy fits you best. To locate a Newark auto insurance agent closest to you, click the link at the bottom.
Morais Insurance Agency, Inc.
217 Ferry St - Newark, NJ 07105 - (973) 344-2000
Goker and Associates Insurance Agency
121 Elizabeth Ave #101 - Newark, NJ 07108 - (908) 344-7577
N J Insurance Underwriting
744 Broad St # 1100 - Newark, NJ 07102 - (973) 622-3838