Buying cheap auto insurance for a Honda Accord is usually pretty straightforward, but it relies on many different factors such as whether you are single or married, if you have a tendency to file claims, and if you have a history of accidents. Drivers pay around $683 per year for Accord insurance, but that is a projection based upon a 40-year-old single male driver with full comprehensive and collision coverage and $500 deductibles.
But there is a good chance that you are not 40 years old and maybe not even male, you might be married instead of single, and you may just want the cheapest liability coverage you can find. Just a minor difference in the factors used in pricing a policy may result in a big change in the cost of insuring your Accord.
Every driver’s needs are different, and that is why the way we recommend to find the most affordable coverage for your Honda is to compare rates from as many companies as possible. Get your free quotes now and you will receive price comparisons from some of the best companies in Wisconsin.
Your vehicle’s trim level will influence the cost of coverage, so the cost to insure a Accord LX 4-Dr Sedan trim level will be $242 less than the insurance cost for the higher-end Accord EX-L 2-Dr Coupe trim level, as shown below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Accord LX 4-Dr Sedan||$124||$228||$236||$14||$70||$672||$56|
|Accord EX 4-Dr Sedan||$124||$228||$236||$14||$70||$672||$56|
|Accord LX-P 4-Dr Sedan||$124||$228||$236||$14||$70||$672||$56|
|Accord EX-L 4-Dr Sedan||$142||$278||$236||$14||$70||$740||$62|
|Accord EX 2-Dr Coupe||$142||$328||$314||$18||$94||$896||$75|
|Accord LX-S 2-Dr Coupe||$142||$328||$314||$18||$94||$896||$75|
|Accord EX-L 2-Dr Coupe||$160||$328||$314||$18||$94||$914||$76|
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Prices based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, homeowner, and safe-driver. Price estimates do not factor in specific garaging location which can raise or lower coverage prices noticeably.
Wisconsin auto insurance company ratings
Picking the best insurance company can be difficult considering how many different companies insure vehicles in Milwaukee. The company information shown below can help you choose which coverage providers you want to consider when looking for cheaper rates. The ratings below include major nationwide insurance companies, so companies with more of a regional focus are not taken into consideration for these rankings.
Top 10 Major Auto Insurance Companies in Milwaukee Ranked by Customer Service
- State Farm
- Safeco Insurance
- American Family
- Liberty Mutual
- Erie Insurance
- The Hartford
Top 10 Major Auto Insurance Companies in Milwaukee Ranked by A.M. Best Rating
- USAA – A++
- Travelers – A++
- State Farm – A++
- GEICO – A++
- Nationwide – A+
- Esurance – A+
- The Hartford – A+
- Erie Insurance – A+
- Progressive – A+
- Allstate – A+
The example below illustrates how choosing a deductible can change insurance prices when trying to find cheap insurance for a Honda Accord. The premium estimates are based on a married male driver, full physical damage coverage, and no additional discounts are factored in.
A 40-year-old driver could cut expenses by $160 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $242 by choosing a $1,000 deductible. Even younger drivers, like the 20-year-old category, could reduce their rates $536 or more by choosing a higher deductible. When choosing a higher deductible, it will be required to have additional savings on hand to satisfy the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Types of discounts on Milwaukee auto insurance
Insurers that provide policies for a Honda Accord could also offer rate discounts that could reduce prices by as much as 25% or more if you meet specific eligibility requirements. A list of companies and a partial list of their discounts are detailed below.
- State Farm may include discounts for multiple policy, good student, student away at school, accident-free, and Steer Clear safe driver discount.
- Liberty Mutual has discounts for hybrid vehicle, good student, multi-car, safety features, newly married, and exclusive group savings.
- American Family offers premium reductions for accident-free, good student, mySafetyValet, multi-vehicle, and early bird.
- Progressive may offer discounts for continuous coverage, online quote discount, multi-policy, good student, homeowner, online signing, and multi-vehicle.
- Farmers Insurance may have discounts that include electronic funds transfer, homeowner, pay in full, multi-car, mature driver, and business and professional.
- Auto-Owners Insurance discounts include multi-policy, safe driver, anti-theft, anti-lock brakes, and group or association.
- SAFECO offers discounts including safe driver, multi-car, accident prevention training, teen safety rewards, homeowner, and teen safe driver.
The example below illustrates the comparison of annual premium costs with and without discounts applied to the policy rates. The price estimates are based on a male driver, no violations or claims, Wisconsin state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with claim-free, multiple policy, multiple vehicle, homeowner, safe-driver, and passive restraint discounts applied. When discounts are factored in, the average savings per year on auto insurance for a Honda Accord is 27% or $405.
Careless drivers pay higher rates
The recommended way to earn low auto insurance premiums in Wisconsin for an Accord is to drive cautiously and avoid traffic citations and accidents. The chart below highlights how traffic violations and at-fault claims influence auto insurance costs for each different age group. Data assumes a married female driver, comp and collision included, $250 deductibles, and no additional discounts are factored in.
In the example above, the average cost of auto insurance in Milwaukee per year with a clean driving record and no accidents is $1,271. Factor in two speeding tickets and the average cost rises to $1,808, an increase of $537 each year. Then add two accidents along with the two speeding tickets and the 12-month cost of auto insurance for a Honda Accord jumps again to an average of $3,769. That’s an increase of $2,498, or $208 per month, just for not maintaining a clean driving record!