Buying economical auto insurance for a Honda Accord in Texas can be pretty simple, but it hinges on a very complex rating algorithm that uses multiple factors such as when you were born, your occupation, and any prior driving citations you have received. Texas drivers will pay around $1,234 annually to insure their Accord, but that price is an estimate calculated using a 30-year-old married male driver with full coverage and $100 deductibles.
The issue with using an average estimated rate is the likelihood you are not 30 and maybe not even a male, single instead of married, or maybe you have a speeding ticket that needs to be factored in. Insurance is an individual thing, so the only way to find the cheapest rates for your Honda is to compare rates from as many companies as possible. Quotes only take a few minutes and you will be able to compare rates from the best companies around.
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Your Honda’s trim level tends to have a direct impact on price, so the price you will be charged to insure a Accord LX 4-Dr Sedan will be $440 less expensive the price to insure the fancier Accord EX-L 2-Dr Coupe trim level, as shown in the table below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Accord LX 4-Dr Sedan | $286 | $486 | $324 | $20 | $96 | $1,212 | $101 |
| Accord EX 4-Dr Sedan | $286 | $486 | $324 | $20 | $96 | $1,212 | $101 |
| Accord LX-P 4-Dr Sedan | $286 | $486 | $324 | $20 | $96 | $1,212 | $101 |
| Accord EX-L 4-Dr Sedan | $328 | $592 | $324 | $20 | $96 | $1,360 | $113 |
| Accord EX 2-Dr Coupe | $328 | $698 | $430 | $26 | $128 | $1,610 | $134 |
| Accord LX-S 2-Dr Coupe | $328 | $698 | $430 | $26 | $128 | $1,610 | $134 |
| Accord EX-L 2-Dr Coupe | $370 | $698 | $430 | $26 | $128 | $1,652 | $138 |
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Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Premium costs do not factor in vehicle garaging location which can modify insurance rates noticeably.
Trying to find cost effective insurance is easier said than done, and determining which companies offer the best car insurance rates for a Honda Accord will involve even more diligence. Every insurance company has their own unique process for determining rates, so we’ll go over the car insurance companies with the most affordable rates in Texas.
It’s important to understand that Texas car insurance rates are calculated based on many things that can increase the cost of a policy. That is why Dallas drivers need to shop around when trying to get the lowest car insurance rates for a Honda Accord. Rates are determined by many factors and can change substantially, so the cheapest company six months ago may now cost much more than other companies.
Cheapest Insurance Rates for Your Accord
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,041 |
| 2 | USAA | $1,128 |
| 3 | Texas Farm Bureau | $1,211 |
| 4 | Germania Mutual | $1,256 |
| 5 | Esurance | $1,421 |
| 6 | California Casualty | $1,424 |
| 7 | State Farm | $1,465 |
| 8 | Mercury | $1,506 |
| 9 | Nationwide | $1,538 |
| 10 | Safe Auto | $1,549 |
| 11 | Progressive | $1,715 |
| 12 | Allstate | $1,718 |
| 13 | Amica | $1,723 |
| 14 | Home State | $2,092 |
| 15 | GEICO | $2,093 |
| 16 | MetLife | $2,227 |
| 17 | Unitrin | $2,241 |
| 18 | Encompass | $2,301 |
| 19 | 21st Century | $2,396 |
| 20 | Titan | $2,568 |
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Travelers has some of the cheapest car insurance rates in Dallas at around $1,041 per year. This is $863 less than the average policy premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also qualify as some of the best Dallas, TX car insurance companies.
As shown in the table above, if you buy coverage from Germania Mutual and switched to Travelers, you could realize an annual savings of in the vicinity of $215. Insureds with Esurance could save as much as $380 a year, and California Casualty policyholders might realize rate reductions of up to $383 a year.
Bear in mind that those premiums are averages for all drivers and vehicles and do not take into consideration a vehicle location for a Honda Accord. So the car insurance company that has the cheapest rates for you may not even be in the list above. That points out the importance of why you need to compare prices as often as possible using your own individual information.
Responsible drivers pay cheaper car insurance rates
The obvious way to enjoy the cheapest car insurance premiums in Texas for an Accord is to pay attention while driving and have a clean driving record. The illustration below shows how speeding tickets and fender-benders can influence car insurance rates for different insured age categories. The price estimates are based on a single female driver, comp and collision included, $100 deductibles, and no policy discounts are applied.
In the prior example, the average cost of auto insurance in Texas per year with no accidents and a clean driving record is $2,767. Factor in one speeding ticket and the average cost surges to $3,137, an increase of $370 each year. Now include two accidents along with the one speeding ticket and the yearly cost of car insurance for a Honda Accord goes up to an average of $6,268. That’s an increase of $3,501, or $292 per month, just for not driving attentively!
How to get discounts on Dallas insurance rates
Insurers that provide policies for a Honda Accord may also give you rate discounts that could potentially reduce rates by as much as 35% or more if you qualify. A few popular companies and a partial list of their discounts are:
- AAA may have discounts that include anti-theft, good driver, pay-in-full, AAA membership discount, multi-car, and good student.
- Progressive offers discounts including continuous coverage, good student, multi-policy, multi-vehicle, online signing, homeowner, and online quote discount.
- State Farm has savings for good driver, multiple policy, Drive Safe & Save, driver’s education, passive restraint, good student, and defensive driving training.
- Esurance includes discounts for DriveSense, good student, Switch & Save, renters, emergency road assistance, and Pac-12 alumni.
- Nationwide may include discounts for anti-theft, family plan, business or organization, easy pay, multi-policy, good student, and defensive driving.
The chart below shows the comparison of insurance costs with and without policy discounts. The data is based on a male driver, no violations or accidents, Texas state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with homeowner, claim-free, safe-driver, anti-theft, vehicle safety, and multiple vehicle discounts applied. When discounts are factored in, the average yearly reduction on car insurance for a Honda Accord is 28% or $815.
How much more does full coverage cost?
Finding cheaper car insurance is probably important to most people, and a good way to lower the cost of insurance for a Honda Accord is to not buy full coverage. The diagram below visualizes the comparison of insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The prices are based on a clean driving record, no at-fault accidents, $1,000 deductibles, drivers are single, and no discounts are taken into consideration.
If we average the cost for ages 20 through 70, full coverage on your policy costs an additional $2,131 per year over liability only. That brings up the question if paying for full coverage is worth it. There isn’t a steadfast formula of when to stop paying for comp and collision coverage, but there is a general guideline you can use. If the annual cost of having full coverage is more than about 10% of replacement cost minus your deductible, then it could be time to drop full coverage.