Best Honda Odyssey Insurance in Lexington

Anyone knows that insurance companies don’t want you quoting rates from other companies. Consumers who compare rates at least once a year are highly likely to buy a new policy because there are good odds of finding good coverage at a lower price. A recent survey revealed that people who compared price quotes annually saved approximately $70 a month as compared to drivers who never shopped around for lower prices.

If finding the cheapest price for Honda Odyssey insurance in Lexington is your objective, then understanding the best way to quote and compare auto insurance can save money and time.

If you want to save the most money, the best way to find cheaper prices for Honda Odyssey insurance is to do a yearly price comparison from insurance carriers who can sell car insurance in Lexington.

1. It will benefit you to learn about auto insurance and the measures you can take to lower rates. Many risk factors that increase rates such as high-risk driving behaviors and a less-than-favorable credit rating can be controlled by making minor driving habit or lifestyle changes.
2. Compare prices from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only provide price estimates from a single company like GEICO and Allstate, while agents who are independent can provide rate quotes from multiple sources.
3. Compare the new rate quotes to the premium of your current policy and determine if there is any savings. If you find a lower rate quote and decide to switch, make sure coverage is continuous and does not lapse.

One thing to point out is to use the same coverage limits and deductibles on every price quote and and to get price estimates from as many car insurance companies as possible. This ensures the most accurate price comparison and plenty of rates choose from.

Finding affordable insurance coverage in Lexington can be much easier if you know how to start. If you currently have insurance, you will surely be able to buy cheaper insurance using the tips covered below. But Kentucky vehicle owners should learn the methods companies use to charge you for coverage and take advantage of how the system works.

Affordable Honda insurance price quotes in Lexington

The companies in the list below have been selected to offer free rate quotes in Lexington, KY. If multiple companies are listed, we suggest you visit two to three different companies to find the lowest car insurance rates.

Honda Odyssey coverage analysis

The price information below highlights detailed analysis of prices for Honda Odyssey models. Having a better understanding of how insurance policy rates are formulated can be valuable when making smart choices when purchasing an insurance policy.

Price data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, safe-driver, and homeowner. Rate quotes do not factor in specific Lexington garaging location which can increase or decrease auto insurance rates greatly.

Should you raise deductibles?

When buying car insurance, a common question is which deductible level should you buy. The rates shown below summarize the differences in price of buying low and high policy deductibles. The first rate table uses a $250 deductible for comprehensive and collision coverage and the second price table uses a $1,000 deductible.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Rate quotes do not factor in specific location which can impact auto insurance rates considerably.

Based on the figures above, using a $250 deductible would cost the average driver about $24 more each month or $288 for a full year across all Honda Odyssey models than requesting the higher $1,000 deductible. Since the policyholder would be required to pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you normally go at least 31 months between claim filings, you would probably come out ahead if you choose a higher deductible. The illustration below shows a better example of how you can do this calculation yourself.

One important note is that a higher deductible level results in having to pay to pay more out-of-pocket when you have a claim. You will want to have enough disposable savings in the event you have to pay more for the deductible.

The example below demonstrates how deductible levels and can raise or lower Honda Odyssey insurance rates for different categories of driver ages. The prices are based on a married male driver, comp and collision included, and no discounts are factored in.

Insurance rate increases from tickets or accidents

The chart below illustrates how speeding tickets and accident claims can impact Honda Odyssey auto insurance rates for each different age category. The costs are based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no policy discounts are applied.

Impact of age and gender on car insurance rates

The information below compares Honda Odyssey annual premium costs for male and female drivers. The rates are based on no claims or driving citations, full coverage, $1,000 deductibles, drivers are not married, and no other discounts are factored in.

Cost comparison with and without full coverage

The information below illustrates the difference between Honda Odyssey insurance premiums with full coverage compared to only the Kentucky minimum liability coverage. The rate quotes are based on no violations or accidents, $100 deductibles, single marital status, and no discounts are taken into consideration.

When to eliminate full coverage

There is no clear-cut rule for dropping physical damage coverage, but there is a general convention. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.

For example, let’s say your Honda Odyssey replacement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company would pay you is $8,000 after the deductible is paid. If you are currently paying more than $800 a year for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.

There are a few cases where dropping full coverage is not a good plan. If you have an outstanding loan on your vehicle, you are required to maintain full coverage to satisfy the loan requirements. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should not eliminate full coverage.

Lower-cost Lexington insurance rates with discounts

Companies that sell car insurance do not advertise all available discounts very well, so here is a list some of the best known in addition to some of the lesser obvious credits available to bring down your rates. If you’re not getting every credit possible, you are throwing money away.

• ABS and Traction Control Discounts – Cars, trucks, and SUVs that have anti-lock braking systems can avoid accidents and earn discounts up to 10%.
• Professional Memberships – Participating in specific professional or occupational memberships or organizations is a good way to get lower rates on your next renewal.
• Bundle and Save – If you insure your home and vehicles and insure them with the same company you may earn over 10 percent off each policy depending on the company.
• Good Student – Getting good grades may save you up to 25%. You can use this discount normally up to age 25.
• Cautious Drivers – Insureds without accidents could pay up to 40% less than drivers with accidents.
• Theft Deterrent – Vehicles equipped with anti-theft or alarm systems have a lower chance of being stolen and can earn a small discount on your policy.

Don’t be shocked that most credits do not apply to the entire cost. A few only apply to the price of certain insurance coverages like collision or personal injury protection. So when the math indicates having all the discounts means you get insurance for free, insurance companies aren’t that generous.

The diagram below illustrates the difference between Honda Odyssey car insurance rates with and without discounts applied to the premium. The premiums are based on a male driver, no violations or accidents, Kentucky state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, multi-car, safe-driver, marriage, and homeowner discounts applied.

To see a list of insurance companies with discount insurance rates in Kentucky, click this link.

Neighborhood agents and car insurance

Some consumers would prefer to get advice from a local agent and doing that can be a smart decision One of the great benefits of price shopping on the web is that you can obtain cheap rate quotes and also buy local.

To find an agent, once you fill out this quick form, your insurance coverage information gets sent to local insurance agents in Lexington who will give you quotes for your car insurance coverage. There is no reason to leave your computer due to the fact that quote results will go immediately to your email address. It’s the lowest rates AND a local agent. If you have a need to compare rates from a particular provider, don’t hesitate to find their quoting web page and fill out the quote form the provide.

Selecting a insurer should include more criteria than just the bottom line cost. The questions below may impact your decision as well.

• Which companies can they place coverage with?
• Are they actively involved in the community?
• Will the agent help in case of a claim?
• Which members of your family are coverage by the policy?
• Is the agent CPCU or CIC certified?
• Do they offer rental car reimbursement?
• If you have an accident, will your rates go up?
• Do they offer claims assistance after hours?

When researching a good insurance agency, it’s important to understand the different agency structures that you can choose from. Car insurance agents can either be exclusive agents or independent agents.

Exclusive Car Insurance Agents

Agents in the exclusive channel write business for a single company like American Family, State Farm, and AAA. They generally cannot give you multiple price quotes so they really need to provide good service. Exclusive agents are usually quite knowledgeable on their company’s products and that allows them to sell at a higher price point.

Shown below are Lexington exclusive agents that can give you price quotes.

View more agents

Independent Car Insurance Agencies

Independent agencies are not locked into one company and that gives them the ability to insure amongst many companies and possibly get better coverage at lower prices. If they find a cheaper price, they simply switch companies in-house and you won’t have to switch agencies.

If you need lower rates, it’s a good idea to compare prices from independent agents so that you can do a thorough price comparison.

Below is a list of independent insurance agencies in Lexington willing to provide comparison quotes.

View more agents

If you receive satisfactory answers and cheap Odyssey insurance quotes, you have narrowed it down to a car insurance agent that is a good match to insure your vehicles.

Do I need special coverages?

When quoting and comparing coverage online or from an agent for your personal vehicles, there is no best way to insure your cars. Your needs are unique to you and your policy should reflect that.
Here are some questions about coverages that can aid in determining whether you would benefit from professional advice.

• When should I remove comp and collision on my Honda Odyssey?
• If my pet gets injured in an accident are they covered?
• Why am I required to get a high-risk car insurance policy?
• Am I covered if I hit a deer?
• Should I have combined single limit or split liability limits?
• Am I covered when driving someone else’s vehicle?
• What is no-fault insurance?
• Am I covered when driving in Canada or Mexico?
• I have a DUI can I still get coverage?

If you’re not sure about those questions but one or more may apply to you, you might consider talking to an agent. If you want to speak to an agent in your area, complete this form or click here for a list of insurance companies in your area.

Car insurance specifics

Learning about specific coverages of your policy can be of help when determining appropriate coverage for your vehicles. Car insurance terms can be difficult to understand and coverage can change by endorsement. Shown next are typical coverages found on the average car insurance policy.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants as well as your vehicle’s damage.

Due to the fact that many Kentucky drivers have only the minimum liability required by law (25/50/10), their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Coverage for collisions

Collision insurance covers damage to your Odyssey from colliding with an object or car. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things such as colliding with a tree, hitting a mailbox, hitting a parking meter, sideswiping another vehicle and crashing into a building. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. You can also choose a higher deductible on your Odyssey in order to get cheaper collision rates.

Liability car insurance

This coverage protects you from damage or injury you incur to other people or property in an accident. This coverage protects you from legal claims by others, and doesn’t cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 25/50/10 which stand for a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and a total limit of $10,000 for damage to vehicles and property.

Liability coverage pays for things like loss of income, pain and suffering, attorney fees and repair costs for stationary objects. The amount of liability coverage you purchase is a personal decision, but buy higher limits if possible. Kentucky requires drivers to carry at least 25/50/10 but it’s recommended drivers buy more liability than the minimum.

The illustration below shows why minimum state limits may not be high enough to cover claims.

Comprehensive insurance

Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive insurance covers claims like rock chips in glass, damage from getting keyed, damage from flooding, hitting a deer and damage from a tornado or hurricane. The maximum amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage kick in for short-term medical expenses such as doctor visits, hospital visits and X-ray expenses. They are often used to cover expenses not covered by your health insurance policy or if you do not have health coverage. Coverage applies to both the driver and occupants as well as being hit by a car walking across the street. Personal Injury Protection is not available in all states and may carry a deductible

You can lower your auto insurance rates

The cheapest Honda Odyssey insurance in Lexington is definitely available online and also from your neighborhood Lexington agents, and you need to comparison shop both so you have a total pricing picture. Some insurance providers may not have internet price quotes and usually these smaller providers prefer to sell through independent agents.

We just showed you a lot of information how to find cheaper Honda Odyssey insurance in Lexington. It’s most important to understand that the more providers you compare, the more likely it is that you will get a better rate. Consumers could even find that the lowest priced auto insurance comes from a smaller regional carrier. Regional companies may often insure only within specific states and give better rates than their larger competitors like State Farm or Progressive.

More detailed auto insurance information is located in these articles:

• Auto Insurance Facts and Statistics (Insurance Information Institute)
• Who Has Affordable Auto Insurance for Drivers Under 25 in Lexington? (FAQ)
• Who Has the Cheapest Auto Insurance for Safe Drivers in Lexington? (FAQ)
• Who Has Affordable Lexington Car Insurance for Drivers Requiring a SR22? (FAQ)
• How Much are Auto Insurance Rates for Drivers with Bad Credit in Lexington? (FAQ)
• What to do at the Scene of an Accident (Insurance Information Institute)
• Safety Features for Your New Car (State Farm)
• Insurance Losses by Make and Model (iihs.org)