Car Insurance Rates for a Honda CR-V in Lexington

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It's a fact that insurance companies don't want you to look at other companies. Consumers who get comparison quotes once a year are highly likely to switch companies because there is a great chance of finding more affordable rates. Remarkably, a study showed that people who made a habit of comparing rates saved about $70 a month as compared to drivers who never shopped around for cheaper prices.

If finding the lowest price on Honda CR-V insurance is the reason you're reading this, then having a grasp of how to shop and compare auto insurance can make shopping around easier.

Discount Honda CR-V insuranceThe most effective way to get cheaper Honda CR-V insurance in Lexington is to do a yearly price comparison from providers that insure vehicles in Kentucky.

  • Step 1: Get an understanding of how car insurance works and the changes you can make to keep rates low. Many factors that result in higher prices like multiple speeding tickets and a negative credit rating can be rectified by making minor changes in your lifestyle.
  • Step 2: Request rate estimates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from one company like Progressive and State Farm, while independent agencies can quote rates for a wide range of insurance providers.
  • Step 3: Compare the price quotes to your existing policy and see if there is a cheaper rate. If you can save money, make sure there is no coverage gap between policies.

A good tip to remember is to try to compare the same level of coverage on every quote and and to analyze as many companies as feasibly possible. This helps ensure a fair price comparison and a good representation of prices.

If you have a current auto insurance policy, you should be able to find better prices using these methods. Comparison shopping for the best auto insurance coverage in Lexington is quite easy. But Kentucky car owners must comprehend the way companies price insurance differently and use this information to your advantage.

The most recommended method to compare car insurance company rates for Honda CR-V insurance in Lexington is to know the fact most insurance companies participate in a system to give rate comparisons. The only thing you need to do is take a few minutes to give details like any included safety features, if a SR-22 is needed, your credit rating estimate, and how old drivers are. That information is instantly provided to many highly-rated insurers and you should receive rate quotes within a short period of time.

To find lower cheaper Honda CR-V insurance rates now, click here then complete the form.

The companies shown below can provide price quotes in Lexington, KY. If you want the best auto insurance in Kentucky, we recommend you visit two to three different companies to find the most affordable auto insurance rates.

Affordable Honda CR-V insurance quotes in Lexington

The price of auto insurance can be rather high, but you might find some hidden discounts to cut the cost considerably. Some discounts apply automatically at the time of quoting, but lesser-known reductions have to be asked about prior to getting the savings.Auto insurance discounts

  • Air Bag Discount - Vehicles equipped with air bags or motorized seat belts may get savings of more than 20%.
  • Onboard Data Collection - Insureds that choose to allow companies to track when and where they use their vehicle by installing a telematics device such as In-Drive from State Farm or Allstate's Drivewise system might get better premium rates if they have good driving habits.
  • Payment Method - If you pay your bill all at once rather than spreading payments over time you can avoid the installment charge.
  • ABS Brakes - Cars and trucks that have steering control and anti-lock brakes can avoid accidents and the ABS can save up to 10%.
  • Cautious Driver Discounts - Drivers without accidents can pay as much as 50% less than drivers with accident claims.
  • Federal Employees - Federal government employees could qualify for a slight premium decrease with a few auto insurance companies.
  • Senior Citizen Discount - Older drivers can get a small decrease in premiums.
  • Membership in Organizations - Joining qualifying clubs or civic groups could earn you a nice discount when getting a Lexington car insurance quote.
  • Fewer Miles Equal More Savings - Keeping the miles down on your Honda may allow you to get substantially lower auto insurance rates.
  • No Accidents - Good drivers with no accidents pay much less when compared with policyholders that have many claims.

It's important to understand that some credits don't apply to your bottom line cost. Most cut the price of certain insurance coverages like collision or personal injury protection. Just because you may think all the discounts add up to a free policy, that's just not realistic.

The example below shows the difference between Honda CR-V auto insurance rates with and without discounts applied to the premium. The data assumes a male driver, no accidents or driving violations, Kentucky state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, multi-policy, homeowner, safe-driver, marriage, and claim-free discounts applied.

Some of the larger companies that may include these discounts include:

Check with each company or agent how many discounts you can get. Some discounts may not apply in your area.

Honda CR-V coverage statistics

The coverage table shown next covers estimates of insurance rates for Honda CR-V models. Knowing how rate quotes are formulated can be valuable when making smart choices when choosing a car insurance company.

Honda CR-V Insurance Rates in Lexington, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $116 $216 $292 $18 $88 $730 $61
CR-V EX 2WD $116 $216 $292 $18 $88 $730 $61
CR-V LX 4WD $116 $216 $292 $18 $88 $730 $61
CR-V EX 4WD $134 $216 $292 $18 $88 $748 $62
CR-V EX-L 2WD $134 $216 $292 $18 $88 $748 $62
CR-V EX-L 4WD $134 $216 $292 $18 $88 $748 $62
Get Your Own Custom Quote Go

Above prices assume married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Rate information does not factor in Lexington location which can revise auto insurance rates significantly.

Auto insurance deductibles

One common question asked by Lexington drivers is how low should you set your deductibles. The data tables below sum up the rate difference between low and high policy deductibles. The first set of prices uses a $250 physical damage deductible and the second rate table uses a $500 deductible.

Honda CR-V insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $220 $350 $278 $16 $84 $973 $81
CR-V EX 2WD $220 $350 $278 $16 $84 $973 $81
CR-V LX 4WD $220 $350 $278 $16 $84 $973 $81
CR-V EX 4WD $252 $350 $278 $16 $84 $1,005 $84
CR-V EX-L 2WD $252 $350 $278 $16 $84 $1,005 $84
CR-V EX-L 4WD $252 $350 $278 $16 $84 $1,005 $84
Get Your Own Custom Quote Go
Honda CR-V insurance prices with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $178 $282 $278 $16 $84 $838 $70
CR-V EX 2WD $178 $282 $278 $16 $84 $838 $70
CR-V LX 4WD $178 $282 $278 $16 $84 $838 $70
CR-V EX 4WD $206 $282 $278 $16 $84 $866 $72
CR-V EX-L 2WD $206 $282 $278 $16 $84 $866 $72
CR-V EX-L 4WD $206 $282 $278 $16 $84 $866 $72
Get Your Own Custom Quote Go

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

Using the data above, we can ascertain that using a $250 deductible will cost you roughly $12 more each month or $144 each year than quoting the higher $500 deductible. Since the policyholder would be required to pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you tend to average at a minimum 21 months between claims, you would probably come out ahead if you choose the higher deductible.

The example below illustrates how your choice of deductibles and can raise or lower Honda CR-V insurance rates for each age group. The information is based on a married female driver, full physical damage coverage, and no discounts are applied.

Should you buy full coverage?

The illustration below shows the difference between Honda CR-V auto insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Kentucky. The costs are based on no violations or claims, $1,000 deductibles, drivers are single, and no other discounts are factored in.

Should you buy full coverage or liability only?

There is no set rule of when to drop comprehensive and collision coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than around 10% of the vehicle's replacement cost less your deductible, then you might want to consider buying only liability coverage.

For example, let's say your Honda CR-V replacement cost is $7,000 and you have $1,000 deductibles. If your vehicle is severely damaged, you would only receive $6,000 after paying your policy deductible. If it's costing in excess of $600 annually for comprehensive and collision coverage, then you might want to consider buying only liability coverage.

There are some circumstances where eliminating full coverage is not in your best interest. If you haven't satisfied your loan, you have to carry full coverage as part of the loan requirements. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should keep full coverage on your policy.

The Honda CR-V Insurance Price Equation

Many different elements are used when quoting car insurance. Some factors are common sense like an MVR report, but some are not as apparent such as your credit history or how financially stable you are.

Only buy add-on coverages you need - There are many add-on coverages that can add up on your auto insurance policy. Insurance for things like rental car coverage, high-cost glass coverage, and membership fees could be just wasting money. The coverages may be enticing at first, but if you have no use for them eliminate the coverages to reduce your premium.

A good credit rating can save money - An insured's credit rating will be a significant factor in determining what you pay. If your credit rating is low, you could save money insuring your Honda CR-V by repairing your credit. People that have high credit ratings tend to be better drivers and file fewer claims than those with worse credit.

Save money by raising coverage deductibles - Your deductibles define the amount you are required to pay before your auto insurance pays a claim. Insurance for physical damage, also called comprehensive and collision insurance, is used to repair damage to your car. Some instances where coverage would apply are rear-ending another vehicle, damage caused by hail, and having a roll-over accident. The more damage repair cost the insured is willing to pay, the lower your rates will be.

GPS tracking and theft deterrents lower rates - Buying a car with an alarm system can help bring down rates. Systems that thwart thieves like vehicle immobilizer systems, OnStar, and tracking devices like LoJack can help prevent car theft.

Auto insurance claims cost money - Companies in Kentucky award cheaper rates to insureds who do not file claims often. If you are a frequent claim filer, you can definitely plan on much higher rates or policy non-renewal. Your car insurance is designed for more catastrophic claims.

Costs also based on gender - Over the last 50 years, statistics have shown that females take fewer risks when driving. Now that doesn't mean women are better drivers. Females and males are responsible for auto accidents at a similar rate, but males get into accidents with more damage. Not only are claims higher, but men get ticketed for serious violations such as DWI and reckless driving. Teenage male drivers cause the most accidents and therefore pay the highest rates.

The information below compares Honda CR-V insurance costs for male and female drivers. The premium estimates are based on no violations or claims, full physical damage coverage, $1,000 deductibles, drivers are not married, and no discounts are applied to the premium.

Car and home together may be cheaper - Some auto insurance companies afford lower prices to clients who consolidate policies with them. It's known as a multi-policy discount. Even if you qualify for this discount already, drivers will still want to compare other Lexington CR-V insurance rates to make sure you are getting the best deal. You may still be able to find a better deal by splitting coverages up.

Insurance loss data for Honda CR-V vehicles - Companies use statistical claims data to calculate a price that will offset any claims. Vehicles that have high amounts or severity of claims will have higher premium rates. The table below illustrates the collected loss data for Honda CR-V vehicles.

For each coverage type, the loss probability for all vehicles, regardless of manufacturer or model, is set at 100. Numbers that are below 100 suggest a positive loss record, while numbers above 100 point to more losses or an increased chance of larger losses than average.

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
BETTER
AVERAGE
WORSE

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

When should I contact an insurance agent?

Some consumers would rather buy from a local agent and that is a smart decision An additional benefit of price shopping on the web is that you can find better rates and still choose a local agent.

Find insurance agent in LexingtonFor easy comparison, once you complete this simple form, the coverage information is submitted to local insurance agents in Lexington who will return price quotes for your auto insurance coverage. You don't have to find an agent because prices are sent immediately to you. You can find the lowest rates AND a local agent. If for some reason you want to compare rates from one company in particular, feel free to find their quoting web page and fill out the quote form the provide.

Finding a good company requires you to look at more than just the quoted price. These are some questions you should get answers to.

  • Are there any discounts for paying up front?
  • Can glass claims be handled at your home?
  • Do they specialize in personal lines auto insurance in Lexington?
  • If they are an independent agency in Lexington, which companies do they recommend?
  • Is the agent CPCU or CIC certified?
  • How long have they been in business?

Shown below is a short list of insurance companies in Lexington willing to provide price quote information for Honda CR-V insurance in Lexington.

More insurance agents

How much insurance do I need?

When quoting and choosing the right insurance coverage for your personal vehicles, there really isn't a one size fits all plan. Everyone's situation is unique.Higher deductibles save money

Here are some questions about coverages that might point out whether or not you would benefit from professional advice.

  • What can I do if my company denied a claim?
  • What is roadside assistance coverage?
  • Do I need replacement cost coverage on my Honda CR-V?
  • Are rental cars covered under my policy?
  • Is rental equipment covered for theft or damage?
  • Is a new car covered when I drive it off the dealer lot?
  • What is PIP insurance?
  • Does having multiple vehicles earn me a discount?

If it's difficult to answer those questions but one or more may apply to you, you might consider talking to an insurance agent. To find an agent in your area, simply complete this short form.

Do the work, save more money

People leave their current company for any number of reasons including lack of trust in their agent, delays in responding to claim requests, not issuing a premium refund and policy cancellation. No matter why you want to switch, choosing a new insurance company is not as hard as you think.

As you shop your coverage around, never buy lower coverage limits just to save a few bucks. There are a lot of situations where drivers have reduced physical damage coverage only to regret that the few dollars in savings costed them thousands. Your goal should be to buy enough coverage for the lowest price, but don't skip important coverages to save money.

We just presented quite a bit of information on how to compare Honda CR-V insurance rates in Lexington. The key concept to understand is the more quotes you get, the better chance you'll have of finding cheaper Lexington car insurance quotes. Drivers may even discover the biggest savings come from an unexpected company.

Additional information is located at the links below