Car Insurance CostsHonda AccordCompare the Cost of Honda Accord Insurance by Model Year and Company
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The driver's age can greatly influence auto insurance costs for a Honda Accord. A 16-year-old driver can expect to pay an average of $5,533 per year for a 2009 model and $6,753 per year for a 2022 model. In contrast, a 40-year-old driver will pay significantly less, with an average rate of $1,200 per year for a 2009 model and $1,507 per year for a 2022 model.
MoneyGeek analyzed the top insurance providers for a Honda Accord based on a range of factors such as affordability, service quality and claims experience.
Car Insurance CostsHonda AccordTable of Contents
Average Cost and Cheapest Companies for Insuring a Honda Accord
If you're insuring a Honda Accord, you can expect to pay around $1,417 per year. However, the carrier you select can impact your premiums. For a full coverage policy, State Farm offers the most affordable rate of $1,093 per year, while Farmers charges the most at $1,662 per year, on average. For minimum coverage policies, State Farm is also the cheapest at roughly $484 per year, and Farmers is the most expensive, costing approximately $770 per year. Weigh the different available options to find the cheapest car insurance for you.
Is a Honda Accord Expensive to Insure?
Our data shows that it’s neither cheap nor expensive to insure a Honda Accord. Certain models may be more expensive to insure due to their higher value and repair costs. In addition, the theft rates for this vehicle may be another reason why insurance providers charge somewhat higher rates to insure this car model.
Best Companies for Insuring a Honda Accord
To find the best car insurance for a Honda Accord, buyers should consider a company’s rates, claims experience and customer service. Our analysis revealed the top two insurers for a Honda Accord:
- State Farm: MoneyGeek score 90 out of 100 ($1,093 per year)
- GEICO: MoneyGeek score 88 out of 100 ($1,186 per year)
State Farm outshined the competition since it offers the least expensive premiums and has the second-highest ratings for customer satisfaction — you don’t need to worry about sacrificing cost for great service quality with this provider.
MoneyGeek Top Pick: State Farm
pros
Offers the cheapest average rate at $1,093 per year
Ranked second in customer service
Emergency roadside assistance available
cons
Claims management ratings are worse than average
Doesn’t provide accident forgiveness or gap insurance
COMPANY HIGHLIGHTS
State Farm provides the cheapest auto insurance for a Honda Accord without compromising customer satisfaction. Virtually all types of drivers can benefit from its optional coverages like rental car reimbursement and roadside assistance.
If your car is temporarily out of commission due to a covered incident, rental car reimbursement covers the cost of a rental car or travel expenses, such as accommodation, transportation and meals. In addition, if you get into an accident while driving a rental car, State Farm covers up to $500 of your deductible to help reduce your out-of-pocket costs.
State Farm also offers emergency roadside assistance to help you if you experience a mechanical breakdown. With this coverage, you can easily access mechanical labor, towing, delivery of gas, oil, battery or a tire and locksmith labor when you need it most.
MoneyGeek Runner-Up: GEICO
pros
Second-least expensive insurance provider in our comparison group
Earned an above-average customer satisfaction score
Offers mechanical breakdown insurance (MBI)
cons
Doesn’t have original equipment manufacturer (OEM) coverage
Has a low claims management score
COMPANY HIGHLIGHTS
GEICO is our next-best pick for insuring your Honda Accord since it offers a good balance between cost and service. The carrier also provides mechanical breakdown insurance (MBI), a unique add-on that not many competitors have.
MBI covers all parts and systems in your Honda Accord, not just specific features. Plus, it’s an affordable alternative to a standard dealer-extended warranty. Drivers with new or leased cars under 15 months old and with mileage below 15,000 are eligible to purchase this add-on.
Honda Accord drivers can also secure accident forgiveness, which prevents your premium from increasing after your first at-fault accident. You can either purchase or earn it if you’re above the age of 21 and have been accident-free for five years or more. Note that accident forgiveness is not available in California, Connecticut and Massachusetts.
Cost of Insuring a Honda Accord by Model Year
Based on average annual premiums for a full coverage policy, insuring a 2009 Honda Accord costs $1,200, whereas insuring a 2022 model costs $1,507. Your vehicle’s age is one of the biggest factors that affect the average cost of car insurance for a Honda Accord. Older models are cheaper to insure compared to newer models since a car's value depreciates over time.
Your average cost of car insurance will also depend on your preferred insurer and your car’s model year. State Farm charges the cheapest full coverage rates for a 2009 and 2022 Honda Accord, costing around $892 and $1,283 per year, respectively.
Cost of Insuring a Honda Accord for 16- to 25-Year-Olds
Car insurance for teen drivers and young adults is more expensive than for drivers over 30. A 16-year-old driver with a Honda Accord can expect to pay around $6,244 per year for a full coverage policy, while a 40-year-old driver pays roughly $1,370 per year. The cost of auto insurance for teens significantly decreases every year until they reach their 20s, at which point it tends to stabilize.
Adding a teen to a family policy is the best way to get affordable teen car insurance. Keep in mind that teens under 18 are legally required to have a parent or guardian cosign if they purchase an individual policy. State Farm offers the cheapest full coverage policy for 16-year-old Honda Accord drivers at $4,082 per year, while Farmers charges the most expensive rate at $9,255 per year. These rates are for individual plans. Comparing quotes from different car insurance providers will help you can find the most affordable insurance for you.