If you want to find the absolute lowest rates, then the best way to get cheaper auto insurance rates is to annually compare prices from insurance carriers that sell auto insurance in Fort Worth.
- It will benefit you to learn about how auto insurance works and the things you can control to drop your rates. Many risk factors that are responsible for high rates like at-fault accidents, speeding tickets, and an imperfect credit score can be controlled by improving your driving habits or financial responsibility.
- Obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only quote rates from a single company like Progressive or State Farm, while independent agencies can provide rate quotes for many different companies. View rates
- Compare the new rate quotes to your current policy premium to determine if switching companies saves money. If you find better rates and decide to switch, make sure there is no coverage gap between policies.
One key aspect of rate comparisons is to compare identical limits and deductibles on every quote and and to get quotes from as many car insurance companies as possible. Doing this helps ensure a fair price comparison and a better comparison of the market.
Inconceivable but true, over 70% of drivers kept their coverage with the same insurance company for more than four years, and almost half have never compared rates with other companies. Fort Worth drivers can save hundreds of dollars each year, but they just feel it’s too hard to save money by comparing rate quotes.
Insurance Cost Influencing Factors
When buying insurance it’s important to understand the factors that go into determining the level of your policy premiums. If you have some idea of what impacts premium levels, this allows you to make educated decisions that could help you find lower insurance prices. Lots of things are considered when you quote your car insurance policy. Some are pretty understandable like an MVR report, but others are more transparent such as your marital status or how safe your car is.
The itemized list below are some of the factors utilized by car insurance companies to help set your rates.
Poor driving leads to higher prices – Good drivers get better prices as compared to those with violations. Only having one driving citation can bump up the cost by as much as thirty percent. Drivers unfortunate enough to have careless tickets like reckless driving, hit and run or driving under the influence may be required to submit a SR-22 form with their state’s department of motor vehicles in order to keep their license.
The illustration below shows how speeding tickets and at-fault accidents can impact Honda CR-V insurance prices for different categories of driver ages. The premiums are based on a married female driver, full coverage, $100 deductibles, and no policy discounts are applied.
- Liability insurance limits should be high – The liability section of your policy will protect you when a jury decides you are liable for damages from an accident. Liability insurance provides for a legal defense starting from day one. Liability is cheap when compared with rates for comp and collision, so insureds should have plenty of protection for their assets.
- High credit rating translates to low premiums – Having a good credit history factor in calculating your insurance rates. Insureds that have good credit tend to be better drivers and file fewer claims than those with poor credit. So if your credit is not that good, you could pay less to insure your Honda CR-V if you improve your credit rating.
- Five star IIHS safety rating saves money – Cars with five star safety ratings are cheaper to insure. Vehicles engineered for safety protect occupants better and fewer serious injuries translates directly to fewer claims and lower rates for you. If the Honda CR-V has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may qualify for a discount.
- Do thieves like your car? – Driving a car with advanced anti-theft systems can help lower your premiums. Systems that thwart thieves like GM’s OnStar, tamper alarm systems and vehicle immobilizers all help stop auto theft and help lower rates.
Insurance rates and vehicle performance – The performance level of the vehicle you are insuring makes a significant difference in the rate you pay. The cheapest insurance rates will generally be found on lower cost passenger cars, but your final cost has many other factors.
The next chart uses these assumptions: single male driver age 40, full coverage with $1000 deductibles, and no discounts or violations. It shows Honda CR-V rates compared to other makes and models that have different performances.
- Drive lots and pay more – The higher the miles on your Honda in a year’s time the higher your rate. Many insurance companies rate vehicles based on their usage. Vehicles left parked in the garage receive lower rates than cars that get driven a lot. Having an incorrect usage rating on your CR-V is just wasting money. Make sure your insurance policy properly reflects the correct usage for each vehicle.
Honda CR-V claim probability – Car insurance companies use data from past claims to help calculate premium costs. Models that historically have a trend towards higher claim severity or frequency will cost more for coverage. The next table shows the historical loss data for Honda CR-V vehicles.
For each type of coverage, the claim probability for all vehicles, regardless of make or model, is set at 100. Percentage values below 100 mean the vehicle has better than average losses, while values that are 100 or greater indicate higher probability of having a loss or statistically larger claims.
Insurance Loss Ratings for Honda CR-V Vehicles Specific Honda 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 78BETTERAVERAGEWORSE
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Auto insurance analysis for a Honda CR-V
The rate information below highlights estimates of coverage costs for Honda CR-V models. Having a good understanding how prices are figured is important for making informed purchases.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|CR-V LX 2WD||$176||$316||$438||$26||$130||$1,086||$91|
|CR-V EX 2WD||$176||$316||$438||$26||$130||$1,086||$91|
|CR-V LX 4WD||$176||$316||$438||$26||$130||$1,086||$91|
|CR-V EX 4WD||$202||$316||$438||$26||$130||$1,112||$93|
|CR-V EX-L 2WD||$202||$316||$438||$26||$130||$1,112||$93|
|CR-V EX-L 4WD||$202||$316||$438||$26||$130||$1,112||$93|
|Get Your Own Custom Quote Go|
Price data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, claim-free, and safe-driver. Premium costs do not factor in Fort Worth location which can impact price quotes significantly.
The example below demonstrates how deductible levels and can influence Honda CR-V insurance prices for different age categories. The rates are based on a married male driver, full coverage, and no discounts are factored in.
Insurance premiums for males and females
The chart below illustrates the comparison of Honda CR-V yearly insurance costs for male and female drivers. The premiums assume no tickets, no at-fault accidents, comprehensive and collision coverage, $1,000 deductibles, drivers are single, and no discounts are taken into consideration.
Full coverage or liability only
The example below compares Honda CR-V insurance costs when comparing full coverage to state minimum liability only. The premiums are based on no accidents, no driving violations, $250 deductibles, drivers are not married, and no discounts are factored in.
When to drop comp and collision
There is no written rule for dropping full coverage, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is about 10% or more of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your Honda CR-V book value is $8,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would receive is $7,000 after paying your policy deductible. If it’s costing you more than $700 a year for physical damage coverage, then it could be time to drop full coverage.
There are some situations where buying only liability insurance is not recommended. If you haven’t paid off your loan, you have to keep full coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage.
Save money with these discounts on Honda CR-V insurance in Fort Worth
Car insurance is not cheap, but you may be missing some discounts that can drop the cost substantially. Some trigger automatically when you get a quote, but a few need to be inquired about in order for you to get them.
- Accident-Free Discounts – Claim-free drivers pay less as opposed to drivers with a long claim history.
- Early Signing – A few auto insurance companies offer discounts for renewing your policy before your current CR-V insurance policy expires. It could save around 10% when you buy Fort Worth auto insurance online.
- Good Student – A discount for being a good student could provide a savings of up to 20% or more. The discount lasts well after school through age 25.
- E-sign Discounts – Some of the larger companies will discount your bill up to fifty bucks for completing your application online.
- Distant Student – Any of your kids who attend college more than 100 miles from Fort Worth and leave their car at home may qualify for this discount.
- Buy New and Save – Adding a new car to your policy can be considerably cheaper because new model year vehicles are generally safer.
- Driving Data Discount – Drivers that enable their company to look at when and where they use their vehicle remotely such as Allstate’s Drivewise and State Farm’s In-Drive system may see discounts as long as the data is positive.
- Discounts for Cautious Drivers – Drivers without accidents could pay up to 40% less than drivers with accident claims.
- Payment Method – If you pay your bill all at once instead of monthly or quarterly installments you can avoid the installment charge.
- Anti-lock Brakes – Cars, trucks, and SUVs that have steering control and anti-lock brakes prevent accidents and the ABS can save up to 10%.
Don’t be surprised that most credits do not apply to the entire policy premium. Some only reduce specific coverage prices like physical damage coverage or medical payments. So even though it sounds like you could get a free auto insurance policy, auto insurance companies aren’t that generous.
The illustration below illustrates the difference between Honda CR-V car insurance rates with and without discounts being applied to the rates. The premiums assume a female driver, no claims or driving citations, Texas state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, safe-driver, multi-car, marriage, claim-free, and homeowner discounts applied.
If you would like to view auto insurance companies who offer auto insurance discounts in Texas, follow this link.
Smart shoppers get results
Insureds switch companies for a number of reasons such as delays in responding to claim requests, policy non-renewal, not issuing a premium refund or being labeled a high risk driver. Whatever your reason, finding a new company is not as difficult as it may seem.
Low-cost Honda CR-V insurance in Fort Worth is available on the web and with local Fort Worth insurance agents, and you need to price shop both so you have a total pricing picture. There are still a few companies who may not offer online quoting and these regional insurance providers prefer to sell through local independent agents.
When trying to cut insurance costs, it’s a bad idea to buy lower coverage limits just to save a few bucks. Too many times, consumers will sacrifice liability coverage limits and found out when filing a claim that the savings was not a smart move. Your objective should be to purchase plenty of coverage at the best price, not the least amount of coverage.
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)
- Who Has Affordable Car Insurance for First-time Drivers in Fort Worth? (FAQ)
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- Who Has Affordable Fort Worth Auto Insurance Quotes for a GMC Sierra? (FAQ)
- Who Has Affordable Auto Insurance Rates for Felons in Fort Worth? (FAQ)
- Who Has Affordable Fort Worth Auto Insurance for Drivers with Bad Credit? (FAQ)
- Who Has the Cheapest Fort Worth Auto Insurance for a Kia Optima? (FAQ)
- Understanding your Policy (NAIC.org)
- Older Driver Statistics (Insurance Information Institute)
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)