Car Insurance CostsHonda InsightCompare the Cost of Honda Insight Insurance by Model Year and Company
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Your age can have a significant impact on car insurance for a Honda Insight.
For example, a 16-year-old spends around $5,761 per year for full coverage for a 2010 Honda Insight, while a 40-year-old only pays roughly $1,257. For a 2022 model, a 16-year-old spends roughly $6,851 per year, whereas a 40-year-old only has to pay around $1,526.
There are several factors to consider when purchasing auto insurance, so don’t be shortsighted and focus only on cost. MoneyGeek evaluated the best insurance providers for a Honda Insight based on affordability, customer satisfaction and claims management.
Car Insurance CostsHonda InsightTable of Contents
Average Cost and Cheapest Companies for Insuring a Honda Insight
On average, it costs $1,431 per year to insure a Honda Insight. But your actual rate can vary depending on the insurance provider and other factors. For instance, State Farm offers the cheapest full coverage policy at around $1,112 per year, while Farmers is the most expensive provider, costing an average of $1,681 per year.
For minimum coverage, the lowest and highest rates are from the same companies. State Farm remains the most affordable, charging an average annual premium of $485, whereas Farmers is again the least affordable at around $726 yearly. Take the time to compare quotes to find the cheapest Honda Insight car insurance for you.
Is a Honda Insight Expensive to Insure?
Most electric vehicles are more expensive to insure than regular cars because they cost more to replace and repair. As a hybrid electric vehicle, the Honda Insight has a surprisingly moderate average full coverage car insurance rate, which might be best explained by its superb crash test ratings and relatively low MSRP ($25,815 for the 2022 model). A Honda Insight is very safe to drive and won’t cost as much to repair or replace in an accident, so insurers don’t tend to charge more for insurance.
Best Companies for Insuring a Honda Insight
The best car insurers for a Honda Insight offer an affordable rate with great customer service and claims management. We found that the best auto insurance providers for a Honda Insight are:
- State Farm: MoneyGeek score of 90 out of 100 ($1,112 per year)
- GEICO: MoneyGeek score of 90 out of 100 ($1,125 per year)
State Farm’s highly affordable rates and good service earned it the top spot in our study of seven major insurance providers. With State Farm, you may receive a cheap rate without sacrificing service quality.
MoneyGeek Top Pick: State Farm
pros
Cheapest average rate for full coverage of the providers in our study
Ranked second in customer satisfaction
cons
Below-average rating for claims management
Doesn’t offer original equipment manufacturer (OEM) coverage or gap insurance
COMPANY HIGHLIGHTS
State Farm offers the most affordable full coverage premium for a Honda Insight, and you may reduce your rate by taking advantage of its long list of discounts. State Farm also has a strong reputation for delivering a top-notch customer experience.
State Farm’s add-on coverage options are quite limited, but they offer great value. Its roadside assistance coverage gives you peace of mind knowing that towing, locksmith services, mechanical labor and the delivery of gas, tires, battery or oil are all taken care of if your car breaks down.
State Farm also offers rental car coverage to pay for a car after a covered claim up to policy limits and may also give you up to $500 in meals, lodging and other transportation costs if your car gets damaged in a covered accident. Plus, you have up to $500 of coverage towards your deductible if you get into an at-fault accident in the rental car.
MoneyGeek Runner-Up: GEICO
pros
Second place in affordability
Provides good customer service
Offers add-on roadside assistance, accident forgiveness and mechanical breakdown insurance
cons
Below-average claims management rating
No original equipment manufacturer (OEM) coverage
COMPANY HIGHLIGHTS
Its affordable rate and good service made GEICO our runner-up for the best insurance provider for a Honda Insight.
GEICO has a good selection of add-on coverages that you can purchase. Its mechanical breakdown insurance (MBI) covers all of your car’s parts and systems but usually costs less than a typical dealer extended warranty. To qualify, your Honda Insight must be less than 15 months old and have less than 15,000 miles on its odometer.
GEICO’s roadside assistance coverage helps you when your car is out of commission on the road, covering flat tires, towing and jumpstarts. You can also protect yourself from a significant rate increase following an at-fault accident by purchasing or earning GEICO’s accident forgiveness coverage (where available). You have to be over 21 and have been accident-free for five years or more to qualify.
Cost of Insuring a Honda Insight by Model Year
The average cost of car insurance for a Honda Insight considers the vehicle’s age or model year. A car’s value depreciates over time — so newer models are typically more expensive to insure than older models. For instance, a full coverage policy for a 2010 Honda Insight averages $1,257 per year, but this rate goes up by around $269 for a 2022 model — roughly $1,526 a year.
The average cost of car insurance can vary by model year and provider. MoneyGeek found that State Farm is the cheapest insurer for a Honda Insight, with full coverage costing an average of $967 yearly for a 2010 model and $1,252 for a 2022 model.
Cost of Insuring a Honda Insight for 16- to 25-Year-Olds
Your age has an effect on your car insurance rate. Auto insurance for teens is much more expensive than for older drivers. For instance, a 16-year-old who purchases a full coverage policy for a Honda Insight pays around $6,283 per year on average, but a 40-year-old driver who purchases the same policy only has to spend around $1,386.
The good news is that teen car insurance becomes cheaper each year and evens out in their 20s.
Even for the same make and model, you’ll typically notice stark differences in insurance rates from different providers. That’s why comparing quotes from multiple companies is best to find the cheapest teen car insurance.
For instance, a 16-year-old with a Honda Insight will get the cheapest full coverage policy from State Farm at around $3,543 per year. Farmers is the most expensive insurer at an average annual cost of $8,531.
These rates are for an individual policy. But, in most instances, a teen under 18 cannot legally purchase auto insurance without an adult co-signer. Plus, a smarter strategy that could help teens save up to thousands of dollars per year is being on a family policy.