Finding affordable auto insurance for a Honda Accord relies on a complex formula that considers things such as age of the vehicle, your credit history, and citations or violations on your driving record. Drivers will pay around $862 per year to insure their Accord, but that figure is an approximation based on a 40-year-old single female driver with full physical damage coverage and $1,000 deductibles.
The issue that arises when projecting rates is that it’s very likely that you are not 40 and maybe not even a female, married instead of single, or maybe you don’t qualify for the same discounts. There is no one cookie-cutter policy that works for everyone, so the best method for finding cheap car insurance rates for your Honda is to do your own rate comparisons.
The specific model of Accord impacts price, so the price you pay to insure a Accord LX 4-Dr Sedan trim level will be $300 cheaper than the cost to insure the high end Accord EX-L 2-Dr Coupe model, as shown in the prices below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Accord LX 4-Dr Sedan | $128 | $244 | $354 | $20 | $106 | $852 | $71 |
| Accord EX 4-Dr Sedan | $128 | $244 | $354 | $20 | $106 | $852 | $71 |
| Accord LX-P 4-Dr Sedan | $128 | $244 | $354 | $20 | $106 | $852 | $71 |
| Accord EX-L 4-Dr Sedan | $146 | $296 | $354 | $20 | $106 | $922 | $77 |
| Accord EX 2-Dr Coupe | $146 | $348 | $470 | $28 | $140 | $1,132 | $94 |
| Accord LX-S 2-Dr Coupe | $146 | $348 | $470 | $28 | $140 | $1,132 | $94 |
| Accord EX-L 2-Dr Coupe | $166 | $348 | $470 | $28 | $140 | $1,152 | $96 |
| Get Your Own Custom Quote Go | |||||||
Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Oregon minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Rates do not factor in specific zip code location which can change coverage rates significantly.
Ending up with a good quality car insurance provider can be rather challenging considering how many companies sell insurance in Portland. The information in the lists below could help you decide which providers you want to consider when trying find the best insurance for a Honda Accord. The ratings below are only made up of the companies with a significant amount of written premium nationwide, so companies without a large exposure are not taken into consideration for these rankings.
Top 10 Large Auto Insurance Companies in Portland Ranked by A.M. Best Rating
- USAA – A++
- Travelers – A++
- GEICO – A++
- State Farm – A++
- The Hartford – A+
- Esurance – A+
- Nationwide – A+
- Allstate – A+
- Progressive – A+
- The General – A-
Top 10 Large Auto Insurance Companies in Portland Ranked by Value
- USAA
- American Family
- The Hartford
- The General
- State Farm
- AAA Insurance
- Nationwide
- Allstate
- Esurance
- Safeco
The illustration below shows how different deductible levels can raise or lower insurance rates when quoting cheap insurance for a Honda Accord. The information is based on a single male driver, comp and collision included, and no other discounts are factored in.
As shown above, a 50-year-old driver could lower their car insurance rates by $262 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $398 by choosing a $1,000 deductible. Youthful drivers, such as the Age 20 example, could save $860 or more just by choosing higher deductibles when buying full coverage. If you make the decision to raise deductibles, it will be required to have enough in a savings account to enable you to pay the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
Last year’s bargain might be this year’s rip off
Portland, OR insurance rates are determined by lots of factors that may substantially change the cost of having a policy. Simply getting older, filing a claim, or having a fender bender can cause premium changes that can make some companies more affordable than others. And not only may your rating factors change, but insurance companies change prices as needed in order to remain profitable. A period of increased losses can result in higher rates, while a profitable period can cause lower-priced Accord insurance rates.
To illustrate this example, the data below shows which companies have the cheapest car insurance in Portland, OR for a 45-year-old male driver with a clear driving record, no claims, and great credit. If we look at prices based on his personal profile, Grange quotes the cheapest car insurance rates in Portland at $945 each year. This is $533 less than the average rate paid by Oregon drivers of $1,478. Country, Oregon Mutual, Travelers, and USAA round out the rest of the cheapest Portland, OR auto insurance companies.
The next chart shows rates after we give the driver from the first rate comparison a couple of claims, a little lower credit rating, and a speeding citation. Because each company has a different process to set premium rates, analyzing rate quotes may now result in a substantially altered list of the cheapest companies as shown below.
Amica now has the lowest price on auto insurance in Portland with GEICO, Allied, Country, and Oregon Mutual completing the list. This example demonstrates why it is crucial to perform an extensive rate comparison when trying to find the cheapest car insurance rates for a Honda Accord. Car insurance prices are influenced by many factors and can change substantially, so the most affordable company two years ago may now be one of the more expensive options.
How to find economical car insurance for a Honda Accord
Lowering your rates is not difficult, and here are some of the recommended money-saving solutions that can help drivers locate low-cost auto insurance.
- Increase your deductibles
- Drivers with good credit ratings often pay less
- Avoid accidents
- Discounts for being claim-free can be substantial
- Buy your homeowners policy from the same company as your auto insurance
- Avoid speeding and other traffic citations and pay less
- Shop around for lower rates once a year
That last idea is highly vital, as we pointed out in the prior article. Car insurance prices can change significantly in a year, so you should be ready to change to a new company if you find a better deal. Brand loyalty is not necessarily bad, but we do not recommend it if that devotion results in you overpaying a lot of money. Take a couple minutes and shop around and find cheaper auto insurance for a Honda Accord in Portland.
If you prefer to get help from a professional when buying car insurance for an Accord, the agencies below can help you make a decision which coverages and limits you need. To locate a Portland insurance agent close to where you live, click the button at the bottom or click here to compare prices now.
- Darrell Grenz Insurance Agency
5651 N Lombard St – Portland, OR 97203 – (503) 206-6736 - Roland Havens – State Farm Insurance Agent
6720 NE Glisan St – Portland, OR 97213 – (503) 252-1608 - American Family Insurance – Lee Cannon
8085 SE 16th Ave – Portland, OR 97202 – (503) 235-1545