Compare Honda Element Insurance Quotes in New Orleans

If you want to save the most money, the best way to find the cheapest price for Honda Element insurance is to compare prices once a year from providers in New Orleans.

Step 1: Try to understand how companies price auto insurance and the things you can change to keep rates in check. Many factors that drive up the price like distracted driving and an unfavorable credit rating can be eliminated by making lifestyle changes or driving safer. This article provides instructions to help prevent high rates and find additional discounts you may qualify for.

Step 2: Request rate estimates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only provide price estimates from one company like GEICO or Farmers Insurance, while independent agents can provide rate quotes from many different companies. View rates

Step 3: Compare the quotes to the price on your current policy to see if a cheaper rate is available. If you find a lower rate and decide to switch, ensure there is no coverage lapse between policies.

Step 4: Give proper notification to your current agent or company to cancel the current policy and submit any necessary down payment along with the completed application to your new agent or company. Once coverage is bound, keep the new certificate verifying coverage above your visor, in the console, or in the glove compartment.

One bit of advice is that you’ll want to make sure you compare the same liability limits and deductibles on every price quote and and to get price quotes from as many companies as you can. Doing this helps ensure a fair price comparison and the most accurate and complete price analysis.

Insurance rates Honda Element in New OrleansIt’s easy to assume that insurance companies don’t want policyholders to compare prices from other companies. Drivers who shop around annually are inclined to switch to a new company because there is a high probability of finding good coverage at a lower price. A survey found that people who compared prices regularly saved about $865 a year as compared to drivers who don’t make a habit of comparing rates.

If finding the lowest price for Honda Element insurance is your goal, then having a good understanding how to shop for insurance can help you succeed in saving money.

Shopping for the best-priced protection in New Orleans is not as hard as you may think. Practically everyone who wants cheaper insurance will more than likely be able to find lower rates. But Louisiana consumers must know how big insurance companies price online insurance and take advantage of how the system works.

Rates and information analytics

The table shown next showcases detailed analysis of rate quotes for Honda Element models. Having a good understanding how insurance premiums are figured can help drivers make smart buying decisions.

Honda Element Insurance Rates in New Orleans, LA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Element LX 2WD $384 $816 $604 $36 $180 $2,020 $168
Element LX 4WD $384 $816 $604 $36 $180 $2,020 $168
Element EX 2WD $384 $816 $604 $36 $180 $2,020 $168
Element EX 4WD $384 $816 $604 $36 $180 $2,020 $168
Element SC 2WD $384 $816 $604 $36 $180 $2,020 $168
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Table data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Louisiana minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Premium amounts do not factor in zip code location which can impact prices significantly.

Deductible analysis

One common question asked by New Orleans drivers is how high or low should comp and collision deductibles be. The tables below can help you visualize the rate fluctuation of buying low and high insurance deductibles. The first rate estimation uses a $250 deductible for comp and collision and the second set of rates uses a $500 deductible.

Honda Element insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Element LX 2WD $358 $604 $464 $28 $140 $1,619 $135
Element LX 4WD $358 $604 $464 $28 $140 $1,619 $135
Element EX 2WD $358 $604 $464 $28 $140 $1,619 $135
Element EX 4WD $358 $604 $464 $28 $140 $1,619 $135
Element SC 2WD $358 $604 $464 $28 $140 $1,619 $135
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Honda Element insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Element LX 2WD $292 $488 $464 $28 $140 $1,412 $118
Element LX 4WD $292 $488 $464 $28 $140 $1,412 $118
Element EX 2WD $292 $488 $464 $28 $140 $1,412 $118
Element EX 4WD $292 $488 $464 $28 $140 $1,412 $118
Element SC 2WD $292 $488 $464 $28 $140 $1,412 $118
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Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Louisiana minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Rate information does not factor in New Orleans location which can change rates substantially.

Based on the above data, using a $250 deductible will cost you approximately $17 more each month or $204 a year than choosing the higher $500 deductible. Due to the fact that you would have to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you normally go at least 15 months between claims, you would probably come out ahead if you opt for a higher deductible.

Calculation for raising deductibles

Average monthly premium for $250 deductibles: $135
Average monthly premium for $500 deductibles (subtract): – $118
Monthly savings from raising deductible: $17
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $17
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 15 months

An important thing to remember is that raising deductibles to get cheaper rates means you pay more out-of-pocket when you have a claim. You must have some extra funds in the event you have to pay more for the deductible.

Yearly auto insurance costs for men versus women

The example below visualizes the comparison of Honda Element insurance costs for male and female drivers. Data assumes no claims, a clean driving record, comprehensive and collision coverage, $250 deductibles, drivers are single, and no discounts are applied.

Honda Element full coverage rates compared to liability only

The information below illustrates the difference between Honda Element insurance rates with and without physical damage coverage. The prices are based on no driving violations, no at-fault accidents, $250 deductibles, drivers are single, and no other discounts are factored in.

When to stop buying comprehensive and collision coverage

There is no definitive guideline to exclude physical damage coverage, but there is a guideline you can consider. If the yearly cost for physical damage coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to buy liability only.

For example, let’s pretend your Honda Element replacement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company will settle for is $3,000 after the policy deductible has been paid. If premium cost is more than $300 a year for your policy with full coverage, then it might be time to consider dropping full coverage.

There are some scenarios where only buying liability is not advised. If you still have a lienholder on your title, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if you can’t afford to buy a different vehicle in case of an accident, you should not eliminate full coverage.

Seven discounts for cheap car insurance rates

Car insurance can cost a lot, but you might be missing out on some discounts to help offset the cost. Certain reductions will be credited at the time of quoting, but some need to be specifically requested in order for you to get them.Save money with discounts

One last thing about discounts, most discounts do not apply to your bottom line cost. Most only reduce specific coverage prices like physical damage coverage or medical payments. So despite the fact that it appears adding up those discounts means a free policy, it doesn’t quite work that way. But any discount will positively reduce your policy premium.

The chart below shows the comparison of Honda Element insurance costs with and without discounts applied to the policy premium. The rate quotes are based on a female driver, no violations or accidents, Louisiana state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, marriage, safe-driver, homeowner, and multi-policy discounts applied.

A few popular companies and a partial list of their discounts include:

If you need lower rates, check with each company the best way to save money. Depending on the company, some discounts might not apply in every state. If you would like to view insurers that offer many of these discounts in Louisiana, click here.

Specific coverages for a Honda Element

Knowing the specifics of a auto insurance policy helps when choosing the best coverages at the best deductibles and correct limits. Auto insurance terms can be confusing and reading a policy is terribly boring.

Comprehensive coverages

Comprehensive insurance covers damage OTHER than collision with another vehicle or object. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims like a tree branch falling on your vehicle, hitting a bird, rock chips in glass, vandalism and falling objects. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Uninsured and underinsured coverage

Your UM/UIM coverage gives you protection from other drivers when they either have no liability insurance or not enough. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.

Because many people only carry the minimum required liability limits (15/30/25), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Usually the UM/UIM limits are set the same as your liability limits.

Coverage for medical payments

Coverage for medical payments and/or PIP provide coverage for expenses such as X-ray expenses, prosthetic devices, nursing services, funeral costs and EMT expenses. The coverages can be utilized in addition to your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage

Liability coverages

This provides protection from damage or injury you incur to a person or their property. Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see policy limits of 15/30/25 which stand for $15,000 in coverage for each person’s injuries, a per accident bodily injury limit of $30,000, and property damage coverage for $25,000. Some companies may use one limit called combined single limit (CSL) which provides one coverage limit rather than limiting it on a per person basis.

Liability insurance covers things like court costs, funeral expenses, repair bills for other people’s vehicles, bail bonds and medical services. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying as much as you can afford. Louisiana state law requires minimum liability limits of 15/30/25 but drivers should carry higher limits.

The next chart shows why buying the state minimum limits may not provide you with enough coverage.

Collision protection

This coverage covers damage to your Element from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against things such as crashing into a ditch, damaging your car on a curb and driving through your garage door. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible on your Element to save money on collision insurance.

New Orleans car insurance companies ranked

Picking a good quality auto insurance company can be difficult considering how many different companies there are to choose from in New Orleans. The company rank data listed below may help you select which providers to look at purchasing from.

Best Car Insurance Companies in New Orleans
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
Mercury Insurance 97 96 88 89% A+ 93.4
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
Esurance 86 90 94 90% A+ 89.5
The General 86 93 89 84% A- 88.2
GEICO 79 89 95 87% A++ 87.8
Titan Insurance 86 82 92 86% A+ 86.5
21st Century 86 82 90 84% A 86.4
Liberty Mutual 79 87 95 78% A 85.3
Farmers Insurance 77 80 80 84% A 80.3
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Data Source: Best Car Insurance Companies

Don’t give up on cheaper coverage

As you prepare to switch companies, do not reduce coverage to reduce premium. There have been many situations where drivers have reduced comprehensive coverage or liability limits only to regret that their decision to reduce coverage ended up costing them more. The ultimate goal is to purchase a proper amount of coverage at the best cost but still have enough coverage for asset protection.

Lower-priced Honda Element insurance in New Orleans is definitely available from both online companies and from local insurance agents, and you should compare rates from both in order to have the best chance of saving money. A few companies may not offer online rate quotes and most of the time these small insurance companies only sell through independent insurance agents.

In this article, we covered some good ideas how to compare Honda Element insurance premium rates in New Orleans. The key concept to understand is the more price quotes you have, the better your chances of lowering your prices. You may even discover the lowest priced insurance comes from some of the smallest insurance companies.

Much more information about insurance in Louisiana is located below: