Everyone knows that insurance companies don’t want you to look for cheaper rates. Insureds who shop around for cheaper price quotes are inclined to move their business because of the high probability of finding a policy with better rates. A recent study showed that drivers who compared price quotes annually saved over $3,500 over four years compared to people who didn’t regularly shop around.
If finding the best rates on Honda Element insurance in Orlando is why you’re reading this, then understanding the best way to compare insurance rates can save time and make the process easier.
Really, the only way to get more affordable Honda Element insurance in Orlando is to begin comparing prices regularly from companies that sell auto insurance in Florida.
- Get a basic knowledge of policy coverages and the measures you can control to keep rates in check. Many rating factors that cause high rates such as multiple speeding tickets and a poor credit score can be rectified by improving your driving habits or financial responsibility.
- Compare rates from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can provide rates from a single company like Progressive or State Farm, while agents who are independent can provide rate quotes for a wide range of insurance providers. Compare rates now
- Compare the new rate quotes to your current policy premium to see if a cheaper rate is available in Orlando. If you find a lower rate quote, ensure coverage does not lapse between policies.
- Provide notification to your current company to cancel your current coverage. Submit a completed policy application and payment to your new company or agent. As soon as you can, safely store the certificate verifying proof of insurance in your glove compartment.
One bit of advice is to make sure you’re comparing similar coverage information on each quote request and and to analyze as many different companies as possible. Doing this helps ensure an apples-to-apples comparison and a complete price analysis.
Do you qualify for discounts on Honda Element insurance in Orlando?
Insurance is not an enjoyable expense, but there may be some discounts that you may not know about. Some discounts apply automatically when you purchase, but some must be specifically requested prior to receiving the credit.
- No Charge for an Accident – Not necessarily a discount, but a handful of insurance companies will turn a blind eye to one accident before raising your premiums as long as you don’t have any claims for a particular time prior to the accident.
- Professional Organizations – Joining a qualifying organization could qualify you for a break on your next insurance statement.
- College Student Discount – Youth drivers who live away from home at college and won’t have access to an insured vehicle can receive lower rates.
- Lower Rates for Military – Having a deployed family member may qualify for rate reductions.
- Student Discount for Driver Training – Teen drivers should participate in a local driver’s education class in high school.
As a disclaimer on discounts, most discount credits are not given to the whole policy. A few only apply to individual premiums such as collision or personal injury protection. So even though you would think you could get a free insurance policy, you aren’t that lucky. Any qualifying discounts will definitely reduce the premium cost.
The example below shows the comparison of Honda Element insurance premiums with and without discounts applied to the policy premium. The rate quotes are based on a male driver, no accidents, no driving violations, Florida state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, marriage, homeowner, multi-car, and safe-driver discounts applied.
Large insurance companies and some of the premium reductions they offer can be found below.
- State Farm policyholders can earn discounts including passive restraint, defensive driving training, Steer Clear safe driver discount, driver’s education, and anti-theft.
- Liberty Mutual may have discounts that include preferred payment discount, teen driver discount, good student, new move discount, new graduate, newly married, and exclusive group savings.
- American Family offers discounts for bundled insurance, mySafetyValet, accident-free, air bags, Steer into Savings, TimeAway discount, and multi-vehicle.
- Progressive offers premium reductions for online signing, multi-vehicle, multi-policy, continuous coverage, and homeowner.
- Farmers Insurance has savings for multi-car, distant student, switch companies, electronic funds transfer, and early shopping.
- Auto-Owners Insurance offers discounts including safe vehicle, student away at school, paid in full, multi-policy, air bags, and good student.
- SAFECO discounts include anti-lock brakes, teen safety rewards, drive less, homeowner, and bundle discounts.
When quoting, ask all companies you are considering which discounts you may be entitled to. Savings may not be available in Orlando. For a list of providers with the best discounts in Florida, click here.
Getting cheaper Honda Element auto insurance pricing is a fairly straight forward process. You just need to take the time to get quotes provided by online insurance companies.
The companies shown below can provide price quotes in Orlando, FL. If you want the cheapest car insurance in Orlando, it’s highly recommended you compare several of them to get the lowest price.
Analysis of Honda Element rates
The rate information displayed below covers detailed analysis of insurance costs for Honda Element models. Learning more about how insurance quotes are figured can be useful when making informed decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Element LX 2WD | $262 | $438 | $418 | $24 | $124 | $1,266 | $106 |
| Element LX 4WD | $262 | $438 | $418 | $24 | $124 | $1,266 | $106 |
| Element EX 2WD | $262 | $438 | $418 | $24 | $124 | $1,266 | $106 |
| Element EX 4WD | $262 | $438 | $418 | $24 | $124 | $1,266 | $106 |
| Element SC 2WD | $262 | $438 | $418 | $24 | $124 | $1,266 | $106 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Information does not factor in your specific Orlando location which can impact premiums noticeably.
Comparison of policy deductibles
One of the most common insurance questions is the level to set your comp and collision deductibles. The following insurance rates may help to conceptualize the differences in price between high and low physical damage deductibles. The first rate estimation uses a $250 deductible and the second rate chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Element LX 2WD | $322 | $544 | $418 | $24 | $124 | $1,457 | $121 |
| Element LX 4WD | $322 | $544 | $418 | $24 | $124 | $1,457 | $121 |
| Element EX 2WD | $322 | $544 | $418 | $24 | $124 | $1,457 | $121 |
| Element EX 4WD | $322 | $544 | $418 | $24 | $124 | $1,457 | $121 |
| Element SC 2WD | $322 | $544 | $418 | $24 | $124 | $1,457 | $121 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Element LX 2WD | $200 | $342 | $418 | $24 | $124 | $1,108 | $92 |
| Element LX 4WD | $200 | $342 | $418 | $24 | $124 | $1,108 | $92 |
| Element EX 2WD | $200 | $342 | $418 | $24 | $124 | $1,108 | $92 |
| Element EX 4WD | $200 | $342 | $418 | $24 | $124 | $1,108 | $92 |
| Element SC 2WD | $200 | $342 | $418 | $24 | $124 | $1,108 | $92 |
| Get Your Own Custom Quote Go | |||||||
Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Prices do not factor in specific Orlando garaging location which can lower or raise prices considerably.
Based on the above data, using a $250 deductible costs roughly $29 more each month or $348 each year than selecting the higher $1,000 deductible. Because you would pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you go at a minimum 26 months between claim filings, you would save money if you elect the higher deductible.
How to calculate deductible break even point
| Average monthly premium for $250 deductibles: | $121 |
| Average monthly premium for $1,000 deductibles (subtract): | – $92 |
| Monthly savings from raising deductible: | $29 |
| Difference between deductibles ($1,000 – $250): | $750 |
| Divide difference by monthly savings: | $750 / $29 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 26 months |
Full coverage or liability only
The example below visualizes the comparison of Honda Element insurance costs with full coverage and liability only. The costs are based on a clean driving record, no at-fault accidents, $250 deductibles, drivers are single, and no other discounts are factored in.
When to stop buying full coverage
There is no set rule to stop paying for physical damage coverage, but there is a general guideline. If the annual cost of comprehensive and collision coverage is 10% or more of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s pretend your Honda Element claim settlement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, you would only receive $7,000 after paying your policy deductible. If it’s costing in excess of $700 a year for your policy with full coverage, then it might be time to buy liability only.
There are a few cases where removing full coverage is not a good idea. If you haven’t satisfied your loan, you must maintain physical damage coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should not remove full coverage.
Learn How to Lower Your Insurance Prices
Many things are used in the calculation when quoting car insurance. Some are pretty understandable such as your driving record, but other factors are less obvious such as your marital status or how financially stable you are. Part of the auto insurance buying process is learning the different types of things that go into determining your auto insurance rates. If you have some idea of what impacts premium levels, this allows you to make good choices that may result in lower auto insurance prices.
Better prices on safer cars – Safer cars are cheaper to insure. Vehicles engineered for safety result in less severe injuries and lower injury rates means less claims paid passed on to you as lower rates.
Good drivers pay better costs – Having a clean driving record has a big impact on rates. Drivers who don’t get tickets pay lower auto insurance prices as compared to careless drivers. Having just one driving citation could increase your next policy renewal to the point where it’s not affordable. Drivers who have received severe violations like hit and run, DWI or reckless driving convictions are required to maintain a SR-22 to the state department of motor vehicles in order to drive a vehicle legally.
The example below illustrates how speeding tickets and at-fault collisions can raise Honda Element car insurance costs for each age group. The rates are based on a married female driver, full physical damage coverage, $100 deductibles, and no policy discounts are applied.
Compare rates if you combine your policies – Lots of insurers apply better rates to customers who buy several policies from them. It’s known as a multi-policy discount. This 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 make sure you are getting the best deal.There is a good possibility that you can save even more than the discount by buying insurance from more than one company.
High performance equals high costs – The type of car, truck or SUV you are buying insurance for makes a significant difference in your premium level. The cheapest rates are usually for lower performance four cylinder passenger models, but many other things help determine your insurance rates.
The data below uses these assumptions: single male driver age 20, full coverage with $1000 deductibles, and no discounts or violations. The data compares Honda Element insurance rates compared to other models that have different performances.
Men pay more for auto insurance – The statistics show that females tend to be a little less risky than males. It does not mean females are better drivers. They both cause auto accidents in similar numbers, but the men cause more damage and cost insurance companies more money. In addition to higher claims, males also have more aggressive citations such as DWI and reckless driving.
The chart below illustrates the difference between Honda Element insurance costs for male and female drivers. The prices are based on no claims or driving violations, comp and collision included, $250 deductibles, marital status is single, and no discounts are factored in.
Premiums are lower the older you get – Mature drivers tend to be more responsible, tend to file fewer claims, and receive fewer citations. Teenage drivers are statistically proven to be inattentive when behind the wheel therefore auto insurance rates are much higher.
The following chart uses these variables: single driver, full coverage with $500 deductibles, and no discounts or violations.
Incidental coverages can add up – There are a lot of extra bells and whistles that can add up on your auto insurance policy. Insurance for replacement cost coverage, death and dismemberment, and extra life insurance coverage are probably not needed. The coverages may be enticing when deciding what coverages you need, but your money might be better spent on other coverage so remove them and pocket the money.
An active claims history can cost more – If you tend to file frequent claims, you can look forward to either higher rates or even cancellation. Car insurance companies in Florida award the lowest premiums to people who do not file claims often. Auto insurance is intended to be relied upon for claims that you cannot pay yourself.
When do I need an agent’s advice?
When it comes to buying the right insurance coverage for your personal vehicles, there isn’t really a single plan that fits everyone. You are unique.
For instance, these questions may help you determine if your situation will benefit from professional help.
- How much underlying liability do I need for an umbrella policy?
- Does my insurance cover my expensive audio equipment?
- Do I have coverage when pulling a U-Haul trailer?
- Why do I only qualify for high-risk insurance?
- Is motorclub coverage worth it?
- What should my uninsured motorist coverage limits be in Florida?
- Can I get by with minimal medical coverage if I have good health insurance?
- Can I afford low physical damage deductibles?
- Does rental coverage apply when I am renting a car?
- Which companies are cheaper for teen drivers?
If you’re not sure about those questions then you might want to talk to an insurance agent. If you don’t have a local agent, simply complete this short form. It’s fast, doesn’t cost anything and may give you better protection.
Neighborhood insurance agents
Some people just prefer to have an agent’s advice and that is recommended in a lot of cases Agents are trained to spot inefficiencies and help file insurance claims. The biggest benefit of comparing insurance prices online is that drivers can save money and get lower rates and also buy local.
After completing this short form, your insurance coverage information gets sent to agents in your area who want to provide quotes to get your business. There is no reason to search for any insurance agencies because quoted prices will be sent to you instantly. In the event you want to get a price quote from a specific insurance company, you just need to visit that company’s website and complete a quote there.
Deciding on a provider is decision based upon more than just the premium amount. Get answers to these questions too.
- If you are a high risk driver, do they have special markets for your coverage?
- Will your rates increase after a single accident?
- How are claims handled?
- Does the agency support the community they serve?
- Is there any savings for paying the full premium?
- Do they prorate repair cost based on vehicle mileage?
Compare rates from both independent and exclusive car insurance agents
If you’re trying to find a reliable insurance agency, it can be helpful to understand the different types of agencies to choose from. Insurance agents in Orlando are categorized either exclusive or independent. Both types can write policy coverage, but it’s worth learning the differences since it can impact which agent you choose.
Exclusive Insurance Agents
Exclusive agents can only quote rates from one company and some examples include American Family, State Farm, and Allstate. Exclusive agents cannot give you multiple price quotes so always compare other rates. Exclusive agents receive extensive training on what they offer and that enables them to sell even at higher rates. Some insured continue to use the same agent mostly because of the prominent brand name rather than low rates.
The following are Orlando exclusive insurance agencies who can help you get price quotes.
- Allstate Insurance: Domingo Bravo
9330 Narcoossee Rd – Orlando, FL 32827 – (407) 281-6300 – View Map - Terri Marshall – State Farm Insurance Agent
5555 E Michigan St #104 – Orlando, FL 32822 – (407) 380-5689 – View Map - Bill Cordy – State Farm Insurance Agent
2737 N Hiawassee Rd – Orlando, FL 32818 – (407) 298-9996 – View Map
Independent Agencies or Brokers
These agents do not write with just one company so they can insure your vehicles with any number of different companies and find you the best rates. If prices rise, the business is moved internally and you won’t have to switch agencies.
When searching for an agent, we highly recommend that you compare prices from a couple of independent agencies for maximum quote selection. Many can place coverage with smaller mutual companies which can save you money.
The following are Orlando independent insurance agencies willing to provide price quotes.
- MacLeish Insurance
634 Virginia Dr – Orlando, FL 32803 – (407) 647-8000 – View Map - SVF Insurance LLC
1205 N Pine Hills Rd – Orlando, FL 32808 – (407) 447-2204 – View Map - Caple Howden Insurance Agency
10222 E Colonial Dr – Orlando, FL 32817 – (407) 657-8808 – View Map
Insuring your vehicle just makes sense
Despite the high cost, buying auto insurance may be required and benefits you in several ways.
- Most states have mandatory liability insurance requirements which means you are required to buy specific limits of liability insurance in order to drive the car. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If your vehicle has a lienholder, it’s most likely the lender will have a requirement that you buy full coverage to guarantee payment of the loan. If you do not pay your insurance premiums, the lender will be forced to insure your Honda for a lot more money and force you to pay for the expensive policy.
- Auto insurance preserves not only your vehicle but also your financial assets. It will also pay for medical transport and hospital expenses for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, also covers all legal expenses up to the policy limit if you are sued as the result of your driving. If you receive damage to your vehicle caused by a storm or accident, your auto insurance policy will pay to repair the damage minus the deductible amount.
The benefits of having auto insurance are definitely more than the cost, particularly if you ever have a claim. The average driver in Florida overpays more than $700 annually so you should quote and compare rates once a year at a minimum to ensure rates are competitive.
Shop around and save
When searching for affordable Honda Element insurance quotes, it’s not a good idea to reduce needed coverages to save money. There are a lot of situations where someone sacrificed physical damage coverage only to find out that it was a big mistake. The ultimate goal is to buy a smart amount of coverage at the best cost, but do not sacrifice coverage to save money.
Throughout this article, we presented some good ideas how to save on Honda Element insurance in Orlando. It’s most important to understand that the more you quote Orlando car insurance, the better likelihood of getting affordable Orlando car insurance quotes. You may even discover the best rates are with a company that doesn’t do a lot of advertising.
Low-cost Honda Element insurance in Orlando can be bought online in addition to many Orlando insurance agents, and you should be comparing both to get a complete price analysis. Some insurance companies do not provide internet price quotes and these regional carriers provide coverage only through independent insurance agents.
Additional detailed information is located in the articles below:
- Teen Driving Statistics (GEICO)
- What Car Insurance is Cheapest for a Toyota Corolla in Orlando? (FAQ)
- Who Has Cheap Auto Insurance Rates for Police Officers in Orlando? (FAQ)
- Who Has Cheap Orlando Auto Insurance for Teachers? (FAQ)
- What Car Insurance is Cheapest for State Employees in Orlando? (FAQ)
- All About Airbag Safety (State Farm)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
- Front crash protection reduces rear-end crashes (Insurance Institute for Highway Safety)