No normal person likes buying auto insurance, especially when they are aware that their premiums are too high.
Everyone knows that auto insurance companies don’t want you shop around. Consumers who shop around for cheaper price quotes will presumably move their business because there is a great chance of finding better rates. A recent study showed that consumers who faithfully checked for cheaper rates saved over $3,400 over four years compared to those who didn’t regularly shop around.
If finding the cheapest rates on Honda CR-Z insurance in Oakland is your ultimate goal, then having an understanding of how to quote prices and compare car insurance can help you succeed in saving money.
Steps to saving on Honda CR-Z insurance in Oakland
Really, the only way to find discount Honda CR-Z insurance is to make a habit of comparing prices annually from companies in Oakland.
- Step 1: Read and learn about policy coverages and the things you can control to keep rates in check. Many rating criteria that increase rates like tickets, at-fault accidents, and a negative credit rating can be controlled by making small lifestyle or driving habit changes.
- Step 2: Obtain price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only quote rates from one company like GEICO or Allstate, while agents who are independent can give you price quotes for a wide range of insurance providers.
- Step 3: Compare the new rate quotes to your existing rates to see if cheaper CR-Z coverage is available in Oakland. If you find a lower rate and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Step 4: Provide written notification to your current company of your decision to cancel your current coverage. Submit the signed application along with the required initial payment to the newly selected company. Once the application is submitted, keep the new certificate of insurance in your vehicle.
One thing to remember is to compare identical coverages on each quote request and and to get price quotes from as many companies as possible. Doing this enables the most accurate price comparison and many rates to choose from.
Having so many options for buying cheaper insurance for a Honda CR-Z in Oakland, it can be difficult for drivers to pick the lowest cost company.
It’s a great practice to take a look at other company’s rates at least once a year since insurance rates are adjusted regularly by insurance companies. Just because you found the best deal on Honda CR-Z insurance in Oakland a few years ago there is a good chance you can find better prices now. Block out anything you think you know about auto insurance because you’re going to get a crash course in the only way to find lower rates on auto insurance.
Components of Your Honda CR-Z Insurance Costs
Many different elements are considered when quoting car insurance. Most are fairly basic such as your driving record, but other criteria are not as apparent such as whether you are married or how safe your car is. Part of the insurance buying process is learning the rating factors that help calculate insurance rates. If you know what determines premiums, this helps enable you to make changes that can earn you big savings.
Shown below are some of the most rate-impacting factors utilized by car insurance companies to help set your prices.
Use credit responsibly and save – Having a good credit score will be a significant factor in calculating your insurance rates. If your credit score can be improved, you may save money insuring your Honda CR-Z if you clean up your credit. People that have excellent credit scores tend to be less risk to insure than drivers with lower credit scores.
Extra policy coverages push up prices – There are a ton of extra add-on coverages that you can buy on your insurance policy. Things like rental car reimbursement, accidental death, and motor club memberships may be wasting your money. The coverages may be enticing when talking to your agent, but if you have no use for them get rid of them and save.
Higher coverage deductibles lower costs – Comprehensive and collision coverage deductibles tell how much you are required to spend out-of-pocket if a covered claim is submitted. Insurance for physical damage, aka comp and collision, insures against damage to your car. A few examples of covered claims are collision with another vehicle, damage caused by hail, and damage from wind. The more damage repair cost you have to pay, the lower your rates will be.
Lower rates with alarm systems – Owning a car that has a built-in theft deterrent system can help bring down rates. Systems that thwart thieves like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all aid in stopping car theft and help bring rates down.
Drive lots and pay more – The more miles you rack up on your Honda each year the more you will pay for insurance. Almost all companies price each vehicle’s coverage based upon how much you drive. Cars and trucks that are left in the garage cost less to insure than those used for commuting. It’s always a good idea to double check that your vehicle rating reflects the correct driver usage. Improper usage on your CR-Z is just wasting money.
Insure car and home with the same company – The majority of insurance companies apply discounts to people who carry more than one policy in the form of a multi-policy discount. Discounts can amount to as much as ten percent or more Even with this discount, you still need to compare other company rates to make sure you are getting the best deal.
Honda CR-Z insurance claim data – Insurers use past insurance losses to help calculate a profitable premium rate. Vehicles that the data determines to have higher losses will have a higher cost to insure. The table below outlines the collected loss data for Honda CR-Z vehicles.
For each policy coverage type, the statistical loss for all vehicles compiled together is represented as 100. Numbers under 100 imply a favorable loss record, while numbers that are greater than 100 indicate a higher chance of having a claim or an increased chance of a larger loss.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Honda CR-Z Hybrid | 106 | 87 | 83 | 98 |
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Lower rate quotes by taking advantage of discounts
Not too many consumers would say insurance is affordable, but you might be missing out on some discounts to help bring down the price. Larger premium reductions will be automatically applied when you get a quote, but some may not be applied and must be asked about before being credited.
- Defensive Driver Discount – Taking time to complete a course teaching defensive driver skills could save 5% or more and easily recoup the cost of the course.
- Good Student – Performing well in school can be rewarded with saving of up to 25%. The discount lasts up to age 25.
- Discount for Low Mileage – Low mileage vehicles can earn discounted prices on garaged vehicles.
- Lower Rates for Military – Having a deployed family member may lower your rates slightly.
- Telematics Devices – Oakland drivers who agree to allow their company to track where and when they drive through the use of a telematics system such as Progressive’s Snapshot might get better premium rates as long as they are good drivers.
- Switch and Save Discount – A few insurance companies allow discounts for switching to them prior to your current CR-Z insurance policy expiring. You could save around 10% when you buy Oakland car insurance online.
- Mature Driver Discount – Drivers that qualify as senior citizens can possibly qualify for lower premium rates.
- Distant College Student Discount – Any of your kids living away from Oakland attending college and won’t have access to an insured vehicle could qualify for this discount.
- Payment Discounts – By making one initial payment as opposed to paying monthly you could save up to 5%.
- Responsible Driver Discounts – Insureds without accidents can get discounts for up to 45% lower rates as compared to drivers with claims.
As is typical with insurance, some credits don’t apply to all coverage premiums. Most only apply to specific coverage prices like collision or personal injury protection. Even though the math looks like you could get a free insurance policy, you aren’t that lucky.
Some companies that may offer policyholders most of these discounts include:
Before buying, ask every prospective company how you can save money. Some discounts listed above may not apply to policyholders everywhere. To find insurance companies who offer online Honda CR-Z insurance quotes in Oakland, click this link.
One last thing to lower rates
We’ve covered some good ideas how you can find affordable Honda CR-Z insurance in Oakland. The most important thing to understand is the more rate quotes you have, the better your chances of lowering your car insurance rates. Consumers could even find that the most savings is with a smaller regional carrier. Regional companies can often insure niche markets at a lower cost than the large multi-state companies such as State Farm and Allstate.
While you’re price shopping online, do not reduce needed coverages to save money. There have been many cases where an accident victim reduced collision coverage and found out when filing a claim that they should have had better coverage. Your objective should be to get the best coverage possible for the lowest cost and still be able to protect your assets.
How to find cheaper quotes for Honda CR-Z insurance in Oakland
The best way we recommend to get affordable Honda CR-Z insurance is to start comparing rates regularly from providers who provide auto insurance in Oakland. You can compare rates by following these steps.
- Get a basic knowledge of how insurance companies determine prices and the things you can change to drop your rates. Many things that increase rates such as at-fault accidents, speeding tickets, and a negative credit score can be amended by paying attention to minor details.
- Obtain price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can provide rates from one company like Progressive or Allstate, while independent agencies can quote rates from multiple companies.
- Compare the new rate quotes to your existing policy and see if you can save money. If you find a lower rate and make a switch, ensure coverage does not lapse between policies.
- Tell your current company to cancel your current car insurance policy. Submit payment along with a signed and completed policy application for your new policy. Once received, safely store the proof of insurance certificate in an easily accessible location in your vehicle.
One key aspect of rate comparisons is that you use the same amount of coverage on each price quote and and to get rates from every insurance company. This ensures a level playing field and the best price quote selection.
For more information, link through to these articles:
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)
- What Car Insurance is Cheapest for Electric Cars in Oakland? (FAQ)
- Who Has the Cheapest Oakland Auto Insurance for a Honda Accord? (FAQ)
- What Auto Insurance is Cheapest for Low Credit Scores in Oakland? (FAQ)
- What if I Can’t Find Coverage? (Insurance Information Institute)
- Side Impact Crash Tests (iihs.org)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)