Finding affordable car insurance for a Honda CR-V depends on a pretty complex algorithm that uses a lot of factors such as the safety rating of your vehicle, your profession, and any prior driving offenses. Drivers pay around $611 each year for CR-V insurance, but that cost is an estimate using a 30-year-old single male driver with full physical damage coverage and $1,000 deductibles.
When estimating a car insurance rate like we just did, the issue is that you’re not a 30-year-old male, married instead of single, or maybe you just want different deductibles. Insurance is an individual thing, so the only real way to find the cheapest insurance price for your Honda is to put in the effort to do a thorough rate comparison.
Vehicle trim level impacts the cost of coverage, so the price you will be charged to insure a CR-V LX 2WD will be $18 cheaper than the cost to insure the higher-end CR-V EX-L 4WD trim level, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|CR-V LX 2WD||$126||$178||$294||$18||$88||$704||$59|
|CR-V EX 2WD||$126||$178||$294||$18||$88||$704||$59|
|CR-V LX 4WD||$126||$178||$294||$18||$88||$704||$59|
|CR-V EX 4WD||$144||$178||$294||$18||$88||$722||$60|
|CR-V EX-L 2WD||$144||$178||$294||$18||$88||$722||$60|
|CR-V EX-L 4WD||$144||$178||$294||$18||$88||$722||$60|
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Table data represents single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Hawaii minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Estimates do not factor in specific location which can increase or decrease prices considerably.
Finding decent, low-cost car insurance is easier said than done, and finding out which companies offer the most affordable auto insurance rates for a Honda CR-V calls for more quotes for comparison. Every insurance company uses slightly different criteria to determine premium rates, so let’s take a look at the auto insurance companies that tend to have lower prices in Honolulu, HI.
Best Cheap Insurance Rates for Your Honda
|Rank||Company||Cost Per Year|
|7||First of Hawaii||$2,006|
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USAA quotes some of the lowest car insurance rates in Honolulu at around $964 per year. State Farm, GEICO, Liberty Mutual, and Progressive also make the cut as some of the more affordable Honolulu, HI auto insurance companies.
As shown in the rates above, if you are currently insured with Liberty Mutual and switched to USAA, you may realize savings of approximately $442. Hawaii drivers with Progressive might save as much as $596 a year, and Allstate policyholders might realize rate reductions of up to $1,000 a year.
These estimates are averages across all ages of drivers and types of vehicles and do not take into consideration an exact zip code location for a Honda CR-V. So the car insurance company that fits your needs best may not even be in the list above. That point stresses why you need to get rate quotes from many companies using your own specific driver and vehicle information.
Full coverage versus liability-only in Honolulu
Saving money on auto insurance is probably important to the majority of people, and one common way to buy cheaper insurance for a Honda CR-V is to not buy comprehensive and collision coverage. The chart below visualizes the comparison of premium costs with full coverage and liability only. The information is based on no violations or accidents, $1,000 deductibles, marital status is single, and no discounts are applied.
As an average, comp and collision coverage costs an extra $1,118 per year more than buying just liability insurance. A very common question is if buying full coverage is a waste of money. There isn’t a written rule for dropping physical damage coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is more than about 10% of replacement cost minus your deductible, then it might be time to consider dropping full coverage.
There are some conditions where removing full coverage is not recommended. If you have an outstanding loan on your vehicle, you have to keep full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should keep full coverage.
Get discounts on Honolulu auto insurance
Insurance companies that sell policies for a Honda CR-V could also offer rate discounts that can lower rates by as much as 40% or more if you meet specific eligibility requirements. A list of companies and some of the discounts are outlined below.
- Travelers includes discounts for multi-car, early quote, IntelliDrive, new car, student away at school, home ownership, and multi-policy.
- 21st Century may include discounts for driver training, 55 and older, student driver, good student, theft prevention, and air bags.
- State Farm policyholders can earn discounts including Drive Safe & Save, multiple autos, safe vehicle, anti-theft, passive restraint, and Steer Clear safe driver discount.
- GEICO discounts include five-year accident-free, anti-theft, multi-vehicle, defensive driver, anti-lock brakes, and air bags.
- SAFECO has discounts for teen safe driver, accident prevention training, multi-car, safe driver, and teen safety rewards.
- AAA may offer discounts for good driver, education and occupation, pay-in-full, multi-policy, good student, and anti-theft.
The chart below illustrates the difference between insurance rates with and without some available policy discounts. The rates are based on a male driver, no driving violations, no at-fault accidents, Hawaii state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with multiple policy, multiple vehicle, marriage, vehicle safety, accident-free, and claim-free discounts applied. When drivers take advantage of discounts, theaverage amount saved on auto insurance for a Honda CR-V is 27% or $426.
How to find more affordable insurance for a Honda CR-V
The list below shows a few thrifty suggestions that can help Honolulu drivers quote cheaper auto insurance.
- Improve your credit rating
- Vehicles with good safety ratings are usually cheaper to insure
- Avoid accidents
- Ensure your driving record is clean
- Increase your comprehensive and collision deductibles
- Drop full coverage on older vehicles
- Compare rates and switch if you can find a better deal
The last idea is extraordinarily valuable, as was discussed in the article above. Coverage rates in Honolulu adjust frequently, so drivers shouldn’t be reluctant to change to a new company if a cheaper rate is available.
Having a favorite company is fine, but it’s not recommended if your bullheadedness ends up costing you major coinage every year. It only takes a couple minutes to compare prices to find cheaper auto insurance for a Honda CR-V.
The agents shown below can help you make a decision which car insurance company is the best fit, as lots of drivers aren’t clear which coverage they need and would like to have a consultation when shopping for cheaper insurance for a CR-V. It can be hard to find the best coverage on your own, so insurance agents can provide comfort knowing you have adequate protection in the event of a claim.
To find an agent closest to you, click the button at the bottom of the list or click here to compare price quotes.
Pyramid Insurance Center Ltd
420 Waiakamilo Rd – Honolulu, HI 96817 – (808) 527-7667
Cindy Perkins – State Farm Insurance Agent
1313 S Beretania St #100 – Honolulu, HI 96814 – (808) 593-8221
Gwenette Higa – State Farm Insurance Agent
841 Bishop St #203 – Honolulu, HI 96813 – (808) 531-9918
Larry Welsch – State Farm Insurance Agent
1575 S Beretania St Ste 203 – Honolulu, HI 96826 – (808) 944-3450
Allstate Insurance: Matthew Shido
3221 Waialae Ave Ste 386 – Honolulu, HI 96816 – (808) 737-3500