Are you burned out from wondering where the money will come from to buy car insurance? You have the same problem as many other consumers in Minnesota.
It's hard to believe, but nearly 70% of consumers kept buying from the same company for at least four years, and approximately 40% of consumers have never compared quotes from other companies. The average driver in the United States can cut their rates by roughly 47% a year just by comparing rates, but most tend to underestimate the amount of savings they would get if they switch to a new company.
Due to the abundance of choices of insurance companies that have cheaper insurance for a Honda CR-V in Rochester, it's nearly impossible to choose the lowest cost company.
Do you qualify for discounts on Honda CR-V insurance in Rochester?
Not many people think insurance is cheap, but there may be some discounts that can dramatically reduce your bill. Some trigger automatically at the time of purchase, but less common discounts must be manually applied in order for you to get them.
- Seat Belt Usage - Drivers who require all vehicle occupants to use a seat belt can save up to 10 percent (depending on the company) off the PIP or medical payment premium.
- Good Drivers - Safe drivers can get discounts for up to 45% lower rates compared to accident prone drivers.
- Active Service Discounts - Having a deployed family member can result in better prices.
- First Accident Forgiveness - Not a discount per se, but a handful of insurance companies will let one accident slide before your rates go up with the catch being you have to be claim-free for a specific time period.
- Fewer Miles Equal More Savings - Fewer annual miles on your Honda could be rewarded with slightly better insurance rates than normal.
- Theft Deterrent - Vehicles that have factory alarm systems and tracking devices help deter theft and can earn a small discount on your policy.
- Homeowners Savings - Owning a house in Rochester may trigger a policy discount on insurance because maintaining a house requires a higher level of personal finance.
- Federal Employees - Active or retired federal employment may reduce rates when you quote Rochester car insurance with certain companies.
We need to note that most discounts do not apply to the overall cost of the policy. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. So even though it sounds like adding up those discounts means a free policy, you won't be that lucky.
A few popular companies and some of the premium reductions they offer are included below.
- Farm Bureau has discounts for safe driver, 55 and retired, multi-vehicle, good student, driver training, and renewal discount.
- Liberty Mutual may offer discounts for new vehicle discount, hybrid vehicle, teen driver discount, newly married, and safety features.
- State Farm offers discounts including multiple autos, student away at school, safe vehicle, passive restraint, and Drive Safe & Save.
- Auto-Owners Insurance may have discounts that include anti-theft, anti-lock brakes, student away at school, multi-policy, multiple vehicles, and group or association.
- GEICO discounts include multi-policy, federal employee, good student, five-year accident-free, daytime running lights, seat belt use, and anti-lock brakes.
- SAFECO has savings for multi-car, drive less, homeowner, bundle discounts, anti-theft, and teen safety rewards.
If you need cheaper Rochester car insurance quotes, ask all companies you are considering which credits you are entitled to. Discounts may not apply in Rochester. If you would like to view insurers that offer some of these discounts in Rochester, follow this link.
When looking for affordable Honda CR-V insurance quotes, there are a couple ways of comparing price quotes from all the different companies. The easiest way to compare Honda CR-V insurance prices is to get quotes online.
Comparison shopping rate quotes online is easy and it makes it a waste of time to make phone calls or go to insurance agencies in your area. The internet reduces the need to sit down with an agent unless you have a complicated situation and need the trained advice of a local Rochester agent. If you prefer, some companies allow you to obtain prices from the web but purchase the actual policy in an agency. Just keep in mind that comparing more rates from different companies gives you a better chance of getting a lower rate. Not every company allows you to get Rochester CR-V insurance quotes over the internet, so you also need to get price estimates from them as well.
The following companies have been selected to offer quotes in Rochester, MN. If multiple companies are shown, we recommend you visit as many as you can to get the best price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|CR-V LX 2WD||$210||$390||$326||$20||$98||$1,044||$87|
|CR-V EX 2WD||$208||$332||$274||$16||$82||$912||$76|
|CR-V LX 4WD||$208||$332||$274||$16||$82||$912||$76|
|CR-V EX 4WD||$148||$246||$326||$20||$98||$838||$70|
|CR-V EX-L 2WD||$172||$214||$354||$20||$106||$866||$72|
|CR-V EX-L 4WD||$172||$282||$304||$18||$92||$868||$72|
|Get Your Own Custom Quote Go|
Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Rate quotes do not factor in Rochester location which can increase or decrease prices considerably.
Does it make sense to buy full coverage?
The illustration below examines Honda CR-V annual premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premium estimates are based on no claims, a clean driving record, $250 deductibles, single female driver, and no other discounts are factored in.
When to eliminate full coverage
There is no definitive guideline to stop paying for full coverage on your policy, but there is a general school of thought. If the annual cost of having full coverage is more than about 10% of the vehicle's replacement cost less your deductible, then it might be time to consider dropping full coverage.
For example, let's pretend your Honda CR-V claim settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would receive is $6,000 after paying your policy deductible. If premium cost is more than $600 a year for comprehensive and collision coverage, then it could be time to drop full coverage.
There are some cases where eliminating full coverage is not advised. If you have an outstanding loan on your vehicle, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if you don't have enough money to buy a different vehicle if your current one is damaged, you should not consider dropping full coverage.
Impact of citations and accidents on Rochester insurance rates
The diagram below highlights how traffic violations and accidents increase Honda CR-V annual premium costs for different age categories. The costs are based on a married female driver, comp and collision included, $1,000 deductibles, and no discounts are applied.
Components of Your Honda CR-V Insurance Premiums
Many different elements are part of the calculation when premium rates are determined. Some of the criteria are obvious such as your driving history, although some other factors are less obvious like where you live or your commute time.
- Urban residents pay more - Living in smaller towns and rural areas of the country can be a good thing when it comes to car insurance. Fewer drivers on the road translates into fewer accidents. Urban drivers have to deal with congested traffic and a longer drive to work. Longer commute distances means a statistically higher chance of an accident.
- Males pay more for auto insurance - The statistics show that women are safer drivers than men. However, don't assume that females are better at driving than males. Men and women cause fender benders in similar numbers, but guys tend to have higher claims. Men also get cited for more serious violations like DWI (DUI) or reckless driving. Teenage male drivers are several times more likely to be in an accident so they pay the highest premiums.
- Single vs. married - Getting married may cut your premiums on your policy. Having a spouse is viewed as being less irresponsible it has been statistically shown that married drivers get in fewer accidents.
- Liability coverage is critical - The liability section of your policy is the coverage that protects you when you are ruled to be at fault for an accident. This coverage provides for a legal defense which can cost a lot. It is affordable coverage when compared to the cost of physical damage coverage, so do not skimp.
- No claims equals cheap prices - Insurance companies in Minnesota generally give the best rates to insureds that do not abuse their auto insurance. If you frequently file small claims, you can definitely plan on either policy cancellation or increased premiums. Your car insurance is meant to be used in the event of claims that pose a financial burden.
- Avoid tickets and save - Drivers who don't get tickets tend to pay less for car insurance compared to drivers with tickets. Only having one speeding ticket could increase your next policy renewal forty percent or more. Drivers who get severe violations such as DUI or willful reckless driving may need to file a SR-22 with their state DMV in order to keep their license.
- Cheaper rates with high coverage deductibles - Your deductibles tell how much you are required to spend out-of-pocket if you file a covered claim. Physical damage protection, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. Some coverage claims could be colliding with a stationary object, hail damage, and damage from wind. The more you are required to pay out-of-pocket, the lower your rates will be.
- Where do you drive? - The more miles you rack up on your Honda in a year the higher the price you pay to insure it. Most companies apply a rate determined by how the vehicle is used. Autos used primarily for pleasure use get more affordable rates as compared to vehicles used primarily for driving to work. It's a good idea to make sure your car insurance coverage shows the correct usage for each vehicle. Having an incorrect usage rating on your CR-V is throwing money out the window.
- Insurance loss data for a Honda CR-V - Companies use data from past claims when determining insurance rates. Vehicles that are shown to have increased losses will cost more for coverage.
The information below illustrates the historical insurance loss data for Honda CR-V vehicles. For each coverage type, the loss probability for all vehicles averaged together is represented as 100. Numbers under 100 are indicative of better than average losses, while numbers that are greater than 100 indicate higher probability of having a loss or an increased chance of a larger loss.
Car Insurance Loss Data for Honda CR-V Models
Vehicle Make and 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
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Your auto insurance coverage should be tailored to you
When it comes to coverage for your personal vehicles, there really is no one-size-fits-all type of policy. Everyone's situation is a little different and your policy should reflect that. For example, these questions might point out if your situation would benefit from professional advice.
- Should I buy full coverage?
- Can I get a multi-policy discount?
- Which is better, split liability limits or combined limits?
- What is roadside assistance coverage?
- Do I have coverage for damage caused while driving under the influence?
- Can I pay claims out-of-pocket if I buy high deductibles?
If you're not sure about those questions but one or more may apply to you, you might consider talking to a licensed agent. If you want to speak to an agent in your area, fill out this quick form or you can also visit this page to select a carrier
Buying from car insurance agents
A lot of people still like to buy from a licensed agent and that is a smart decision One of the great benefits of comparing rates online is that you can find better rates and still choose a local agent.
Once you complete this quick form, the quote information is transmitted to participating agents in Rochester who will gladly provide quotes for your insurance coverage. You won't need to contact an agency since price quotes are sent directly to your email. You can find better rates and a licensed agent to talk to. In the event you want to quote rates for a specific company, just search and find their rate quote page and fill out the quote form the provide.
Finding a good company is decision based upon more than just the premium amount. Get answers to these questions too.
- Are they primarily personal or commercial lines agents in Rochester?
- How much experience to they have in personal lines coverages?
- When do they do a full risk review?
- If you are a high risk driver, do they have special markets for your coverage?
- How much will you save each year by using a higher deductible?
- Is there a Errors and Omissions policy in force?
- Will you get a loaner vehicle if you car is being repaired?
Upon receiving good answers to all your questions in addition to an acceptable price estimate, it's a good possibility that you have found an insurance company that is reliable enough to adequately provide insurance.
Choosing vehicle insurance is an important decision
Despite the high cost of buying insurance for a Honda CR-V in Rochester, maintaining insurance is a good idea for several reasons.
- Most states have compulsory liability insurance requirements which means you are required to carry a minimum amount of liability protection in order to drive the car. In Minnesota these limits are 30/60/10 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a lien on your Honda, it's guaranteed your bank will have a requirement that you have physical damage coverage to guarantee their interest in the vehicle. If you do not pay your insurance premiums, the bank may insure your Honda for a lot more money and require you to reimburse them a much higher amount than you were paying before.
- Insurance safeguards both your Honda CR-V and your assets. It will also pay for hospital and medical expenses that are the result of an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if you cause an accident and are sued. If your Honda gets damaged, your policy will pay to repair the damage.
The benefits of having insurance more than cancel out the cost, specifically if you ever have a liability claim. According to a 2015 survey, the average American driver is currently overpaying as much as $869 every year so compare quotes from several companies at every renewal to ensure rates are inline.
Affordable auto insurance premiums are out there
You just learned many ways to shop for Honda CR-V insurance online. It's most important to understand that the more companies you get premium rates for, the better your comparison will be. Consumers may even find the best price on auto insurance is with the least-expected company. These companies can often insure niche markets at a lower cost than the large multi-state companies such as Allstate, GEICO and Progressive.
A few companies may not offer rates over the internet and these regional insurance providers only sell coverage through independent insurance agencies. Cheap Honda CR-V insurance in Rochester is available online as well as from independent agents in Rochester, and you need to comparison shop both to have the best selection.
More information can be read at these links:
- Car Insurance: When not to Skimp (BankRate.com)
- Who Has the Cheapest Auto Insurance Quotes for a Learners Permit in Minnesota? (FAQ)
- Who Has Affordable Auto Insurance Rates for High School Students in Minnesota? (FAQ)
- How Much are Minnesota Auto Insurance Rates for Inexperienced Drivers? (FAQ)
- What Auto Insurance is Cheapest for Good Students in Minnesota? (FAQ)
- What Auto Insurance is Cheapest for Lyft Drivers in Minnesota? (FAQ)
- What Insurance is Cheapest for Real Estate Agents in Minnesota? (FAQ)
- What Auto Insurance is Cheapest in Saint Cloud, Minnesota? (FAQ)
- How Much are Car Insurance Quotes for a Ford Fusion in Minnesota? (FAQ)
- Who Has the Cheapest Minnesota Car Insurance Quotes for Felons? (FAQ)
- Self-driving cars won't replace humans (Insurance Institute for Highway Safety)
- Drunk Driving Statistics (Insurance Information Institute)