A recent car insurance study discovered that the vast majority of consumers have remained with the same car insurance company for at least the last four years, and almost half have never shopped around. Louisiana insurance shoppers could pocket approximately 35% a year by just comparing rate quotes, but they don't invest the time required to compare other rate quotes.
If your goal is the lowest price, then the best way to quote cheaper Honda Odyssey insurance in New Orleans is to make a habit of comparing prices annually from different companies that insure vehicles in Louisiana. You can compare prices by following these steps.
First, try to comprehend what coverages are included in your policy and the steps you can take to prevent rate increases. Many things that result in higher rates like traffic citations and an imperfect credit history can be controlled by making small lifestyle or driving habit changes. Read the full article for more information to prevent high rates and earn a bigger discount.
Second, get rate quotes from direct, independent, and exclusive agents. Direct and exclusive agents can provide rates from a single company like GEICO or Farmers Insurance, while agents who are independent can provide rate quotes for a wide range of insurance providers.
Third, compare the price quotes to your existing rates to see if a cheaper price is available. If you can save some money and decide to switch, ensure there is no coverage lapse between policies.
Fourth, notify your company or agent to cancel your current car insurance policy and submit the application along with any required down payment to the new company. When you receive it, keep your new certificate of insurance in an easily accessible location.
An important part of this process is to compare similar coverage information on each price quote and and to get price quotes from as many auto insurance providers as possible. Doing this helps ensure an accurate price comparison and the best price selection.
How to get New Orleans Honda Odyssey insurance quotes
Keep in mind that more quotes will enable you to find the best rates.
The auto insurance companies shown below offer price quotes in New Orleans, LA. If you wish to find the cheapest auto insurance in New Orleans, we suggest you compare several of them to get a more complete price comparison.
Protect your Odyssey and other assets
Even though it's not necessarily cheap to insure a Honda in New Orleans, buying car insurance may be required for several reasons.
- The majority of states have mandatory liability insurance requirements which means you are required to buy a minimum amount of liability in order to license the vehicle. In Louisiana these limits are 15/30/25 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you took out a loan on your Honda Odyssey, almost all lenders will make it a condition of the loan that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the bank or lender will purchase a policy for your Honda for a lot more money and make you pay the higher premium.
- Insurance protects not only your Honda but also your assets. It also can pay for medical transport and hospital expenses that are the result of an accident. Liability coverage, the one required by state law, also covers legal expenses if you cause an accident and are sued. If you have damage to your Honda as the result of the weather or an accident, comprehensive and/or collision insurance will pay to repair the damage.
The benefits of insuring your Odyssey definitely exceed the cost, specifically if you ever have a liability claim. In a recent study of 1,000 drivers, the average customer is currently overpaying as much as $820 a year so it's very important to do a rate comparison at least once a year to ensure rates are inline.
Auto insurance data for a Honda Odyssey
The price information shown below outlines a range of prices for Honda Odyssey models. Having a better idea how insurance prices are formulated is important to be able to make informed decisions when comparing rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Odyssey EX W/Rear Entertainment||$268||$624||$524||$32||$158||$1,606||$134|
|Odyssey EX-L W/Rear Entertainment||$308||$734||$524||$32||$158||$1,756||$146|
|Odyssey EX-L W/Navigation||$308||$734||$524||$32||$158||$1,756||$146|
|Get Your Own Custom Quote Go|
Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Louisiana minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Estimates do not factor in specific New Orleans garaging location which can raise or lower premium rates substantially.
The information below illustrates how your deductible choice and can affect Honda Odyssey premium costs for each different age category. Data assumes a single male driver, full coverage, and no additional discounts are factored in.
Impact of violations and accidents on rates
The chart below demonstrates how speeding tickets and at-fault fender-benders drive up Honda Odyssey premium costs for each different age group. The data is based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no policy discounts are applied.
Honda Odyssey full coverage rates compared to liability only
The information below compares Honda Odyssey insurance costs with and without full coverage. The premiums are based on a clean driving record, no claims, $1,000 deductibles, single marital status, and no discounts are applied to the premium.
When to drop full coverage
There is no specific rule for eliminating full coverage on your policy, but there is a general guideline. If the annual cost of coverage is more than around 10% of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
For example, let's assume your Honda Odyssey replacement cost is $6,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $5,000 after the deductible is paid. If premiums are more than $500 annually for full coverage, then it might be time to buy liability only.
There are some cases where eliminating full coverage is not a good plan. If you still have a lienholder on your title, you are required to maintain full coverage to protect the lienholder's interest in the vehicle. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should maintain full coverage.
Get affordable rates on Honda Odyssey insurance in New Orleans with these nine discounts
Insuring your fleet can be pricey, but you may be missing some discounts that can dramatically reduce your bill. Larger premium reductions will be automatically applied when you complete an application, but some must be asked about prior to receiving the credit.
- Save with a New Car - Insuring a vehicle that is new may earn a small discount because new vehicles keep occupants safer.
- Theft Prevention Discount - Cars with anti-theft systems are less likely to be stolen and can earn a small discount on your policy.
- Driving Data Discount - Drivers who elect to allow their company to track driving manner by using a telematic data system such as Allstate's Drivewise and State Farm's In-Drive system may get a rate reduction if their driving habits are good.
- Responsible Drivers - Insureds who avoid accidents can save up to 40% or more on their New Orleans auto insurance quote than their less cautious counterparts.
- Student in College - Any of your kids who live away from home at college and do not take a car to college could qualify for this discount.
- First Accident Forgiveness - Not really a discount, but a few companies such as State Farm, Progressive and GEICO will turn a blind eye to one accident without raising rates so long as you are claim-free for a particular time prior to the accident.
- Multiple Vehicles - Buying insurance for primary and secondary vehicles on one policy can reduce rates for all insured vehicles.
- Discounts for Federal Employees - Being employed by or retired from a federal job can earn a discount up to 10% but check with your company.
- Drivers Education - Have your child enroll in driver's education as it will make them better drivers and lower rates.
As a disclaimer on discounts, most of the big mark downs will not be given to your bottom line cost. Most cut the cost of specific coverages such as comp or med pay. Despite the fact that it seems like you can get free auto insurance, it doesn't quite work that way. Any amount of discount will help lower your car insurance premiums.
The illustration below shows the comparison of Honda Odyssey insurance premiums with and without policy discounts. The rates are based on a male driver, no driving violations, no at-fault accidents, Louisiana state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, safe-driver, homeowner, multi-policy, and marriage discounts applied.
For a list of companies that offer some of these discounts in New Orleans, click here.
There's no such thing as the perfect insurance policy
Keep in mind that when it comes to choosing a policy, there is no single plan that fits everyone. Each situation is unique.
Here are some questions about coverages that can aid in determining if your situation could use an agent's help.
- What states are considered no-fault?
- Are my friends covered when driving my Honda Odyssey?
- Do they offer discounts for home and auto coverage?
- Do I pay less if my vehicle is kept in my garage?
- Am I covered if I wreck a rental car?
- How do I insure my teen driver?
- Are rock-chip repairs free?
- Am I missing any policy discounts?
- Am I covered when driving someone else's vehicle?
- Is my son or daughter covered when driving my car?
If it's difficult to answer those questions, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form.