Rates depend on factors like the driver’s age and the model year of their car. For example, a full coverage policy for a 2009 Honda CR-V costs $1,135 annually, while the same policy on a 2022 Honda CR-V will cost $1,334. Age is another crucial factor. A policy for a 16-year-old driver with a 2022 Honda CR-V will cost $5,996 annually, but only $1,334 per year for a 40-year-old.
MoneyGeek rated the best insurers for a Honda CR-V, highlighting the providers with the best balance of affordability and customer service.
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Average Cost and Cheapest Companies for Insuring a Honda CR-V
The average cost of car insurance for a Honda CR-V is $1,249 per year, but the company you choose can significantly impact your rates. The cheapest car insurance for the Honda CR-V is from State Farm, costing an average of $467 per year for a minimum coverage policy and $984 per year for a full coverage policy.
On the other hand, Farmers has the most expensive premiums for the same car. A minimum coverage policy costs $723 per year, while a full coverage policy costs $1,459 per year, on average.
Is a Honda CR-V Expensive to Insure?
Several factors can determine the cost of your car insurance. Honda CR-Vs are relatively cheap to insure due to their low horsepower and low Manufacturer Suggested Retail Price (MSRP).
More affordable cars are cheaper to repair, resulting in lower premiums. The Honda CR-V also has a low horsepower compared to other vehicles, meaning it’s less powerful and has a lower chance of getting into major accidents. These factors lead to fewer and less expensive claims, so insurers don’t charge excessive premiums for this car model.
Best Companies for Insuring a Honda CR-V
Finding the best car insurance for a Honda CR-V means looking at rates, service and claims experience. MoneyGeek’s top recommendations are:
- State Farm: MoneyGeek score 90 out of 100 ($984 per year)
- GEICO: MoneyGeek score 89 out of 100 ($1,036 per year)
State Farm is the most affordable insurer for a Honda CR-V. It also has the highest ranking score for customer satisfaction, which means it strikes an outstanding balance of cost and service.
MoneyGeek Top Pick: State Farm
Most affordable rates for a Honda CR-V
Highly rated customer service
Has rental car reimbursement coverage and roadside assistance
Coverages offered are limited
Received low score for claims satisfaction
State Farm doesn’t provide many coverage options, but it does offer rental reimbursement and roadside assistance. Both coverages will help keep you on the road if your Honda CR-V needs repairs.
Rental reimbursement covers the cost of your rental car while your car is not driveable, like when it’s in the shop for repairs. It’s subject to daily and overall limits for each claim. This coverage will immediately apply if you cannot drive your car or if it’s unsafe to drive. For repairs, coverage will start on day one of work on the car and ends once it’s driveable again.
Roadside assistance takes care of you in the event of any emergencies while you’re on the road. It provides towing, locksmith, gas or oil delivery, jumpstarting, tire changing and other urgent services. This coverage can protect you from these unexpected costs adding up.
MoneyGeek Runner-Up: GEICO
Affordable rates for Honda CR-V
Good customer satisfaction rating
Offers Mechanical Breakdown Insurance (MBI)
Doesn't offer gap insurance or OEM (Original Equipment Manufacturer) coverage
Low claims management score
GEICO is an affordable insurance provider for your Honda CR-V, offering highly rated customer service and unique coverage options. If your Honda CR-V is realtively new, you can add MBI to your policy. This coverage is available for cars less than 15-months-old and less than 15,000 miles on them. MBI covers the repairs and replacements on your vehicle without a set limit on parts or shops. As a result, you can save money on repairs because all parts can be covered by your policy whenever needed.
You can also include accident forgiveness on your policy to help you save on your premiums. This coverage prevents your rates from increasing after an at-fault accident. GEICO can add it to your policy for free if you remain claim-free for a period of time. You can also add it to your policy for an additional premium.
Cost of Insuring a Honda CR-V by Model Year
The average cost of car insurance for a full coverage policy on a 2009 Honda CR-V is $1,135 per year, while it costs $1,334 per year to insure a 2022 Honda CR-V. More recent model years are usually more expensive to insure because they have higher market values than older models.
Model year and your choice of insurer will significantly impact the average cost of car insurance for a Honda CR-V. State Farm is the cheapest company for a 2009 model, with an average of $882 annually for a full coverage policy, and Nationwide is the most affordable for a 2022 model at $1,099 annually. The most expensive company is Farmers, at an average of $1,347 per year for a 2009 model and $1,615 per year for a 2022 model.
Cost of Insuring a Honda CR-V for 16- to 25-Year-Olds
Age is a significant factor affecting premiums since car insurance for younger drivers is much more expensive than car insurance for adults. For a full coverage policy on a Honda CR-V, 16-year-old drivers pay an annual average of $5,557, while 40-year-old drivers only pay an average of $1,217 annually. Although premiums decrease for teens as they get older, rates will begin to stabilize in their 20s. Taking advantage of young driver discounts can make teen car insurance more affordable.
Adding teenage drivers to a family plan is the cheapest way to get car insurance for teens, as getting an individual policy for a teenage driver is much more expensive. The most affordable individual full coverage policy for a 16-year-old driving a 2009 Honda CR-V is from State Farm, at an average annual cost of $2,781. Meanwhile, the same plan costs $7,050 on average from Farmers. If you’re looking for car insurance for teens, it’s best to shop around and compare quotes to find the cheapest premiums.
How Does Location Affect the Cost of Honda CR-V Insurance?
While the model year of your Honda CR-V and your age are important factors, your location might be the most influential for determining the cost of car insurance. The cheapest company will vary by what state you live in. Idaho has the most affordable average annual premiums per year, while Florida has the most expensive. We recommend getting quotes from the cheapest insurers in your state to get the best deal for you.
Frequently Asked Questions About Honda CR-V Insurance
MoneyGeek answered some of the most common questions about cost and quality from people looking for car insurance for a Honda CR-V.
About Mark Fitzpatrick