Honda Accord Car Insurance: Average Rates, Cheapest Companies, and How to Save

Safeco offers the cheapest rates for Honda Accord insurance, with an average monthly premium of just $81. That’s significantly lower than the $142 per month average across all insurers for this popular sedan.

The Accord’s strong safety ratings — including a five-star overall crash test rating from the National Highway Traffic Safety Administration (NHTSA) — likely help keep these premiums competitive. But rates can vary depending on factors like your Accord’s trim level, from the base LX to the well-equipped Touring hybrid.

Key Takeaways:

• The average cost to insure a Honda Accord is $142 per month.
• Safeco offers some of the cheapest average rates for the Honda Accord.
• The Honda Accord’s high theft rate — particularly for catalytic converters — can lead to higher insurance costs.

How Much Does It Cost to Insure a Honda Accord?

The average Honda Accord driver pays around $142 per month for insurance, according to Compare.com data. That said, your premiums largely depend on your coverage levels, as you’ll see in the table below. It compares liability and full-coverage rates for all Accord models and how they stack up against the national average.

A typical Accord owner pays $116 monthly for liability-only coverage and $218 monthly for a full-coverage policy, according to our research. While these averages give you an idea of insurance prices, how much you pay depends on several factors.

Keep reading while we explore how age, location, driving record, and other variables can help you save on insurance premiums.

The Cheapest Car Insurance Companies for Honda Accords

Even though the Honda Accord’s average monthly car insurance premium is $142, comparing car insurance helps lower your premiums and find more affordable coverage.

With that in mind, we’ve compiled the five cheapest Accord auto insurance companies in the table below.

Safeco has the best deal for Honda Accord insurance, with average rates coming in at $81 per month, according to our research. But heads up — it might not be the best car insurance company for everyone. To make sure you’re getting the most affordable coverage, comparing quotes from at least three insurers is important.

With that in mind, let’s check out some of the best insurers for your Honda Accord based on several popular driver profiles.

The Best Honda Accord Insurance Companies in 2024

While no single “best” insurance company can meet the needs of every Honda Accord owner, some insurers stand out for their competitive rates, discounts, and coverage options. We’ve analyzed data on average premiums for the Accord and factors like available discounts, customer ratings, and policy features to round up our list of top insurers.

Best for Accord drivers on a budget: Safeco

• Average premium: $81 per month
• Compare.com Rating: 4.6 out of 5

Pros:

• Above-average claims satisfaction
• Plenty of available coverages
• Highly rated telematics program

Cons:

• Missing common auto insurance discounts
• Must go through an agent to get quotes
• Telematics program not available in all states

Safeco is the top choice for Honda Accord owners looking to save some serious cash on their car insurance. The company has some of the cheapest average rates overall, and it also hooks you up with perks like accident forgiveness, claims-free cash back, and a diminishing deductible to keep even more money in your pocket.

Best for teens and young drivers: Farmers

• Average premium: $83 per month
• Compare.com Rating: 3.5 out of 5

Pros:

• Lots of discounts for teens and young drivers
• Rideshare insurance available
• Plenty of local agents

Cons:

• Not always the absolute cheapest option
• Shared family car discount not available everywhere
• Below-average customer service ratings

Farmers is a solid pick for young Honda Accord owners, thanks to various discounts tailored to young drivers. For starters, you can score a multi-car discount for insuring more than one vehicle. But Farmers also offers a shared family car discount if your teen doesn’t have their own ride yet.

You can save if your under-25 driver keeps a clean driving record. Farmers also has discounts for students who earn good grades or attend school at least 100 miles away.

Best for maximum coverage: Liberty Mutual

• Average premium: $134 per month
• Compare.com Rating: 4.6 out of 5

Pros:

• Tons of coverage options
• New and better car replacement perks
• 24/7 roadside help and claims filing

Cons:

• Steeper premiums than other insurers
• Mixed customer reviews
• Better car replacement not available in all states

For maximum coverage, Liberty Mutual is an excellent choice. You can choose from a full lineup of optional add-ons to protect your Accord, including original parts replacement, gap coverage, and rental car reimbursement. And even if you completely wreck your Accord, Liberty Mutual will upgrade your claim to match your payout to a one-year-newer model if you sign up for new-car replacement.

Honda Accord Insurance Rates by Model Year

Your Honda Accord’s age may indirectly affect the price you pay for insurance. Generally speaking, the more your car is worth, the more it’ll cost to insure. You can expect to pay a bit more for a shiny new Accord than for an older model.

To give you a better idea, check out the table below to see the average monthly premiums for Honda Accords by model year, along with the cheapest insurer and the average monthly rate.

Honda Accord Insurance Rates by State

The state you call home can also influence your Honda Accord insurance rates. Insurance companies look at local factors like population density, crime rates, and even weather patterns in your area to determine the likelihood of accidents and claims.

Our research below gives you a peek at how your rate stacks up depending on where you live. It breaks down the average monthly cost of Honda Accord insurance from coast to coast.

Honda Accord Insurance Rates by Age

Your age carries a lot of weight in the car insurance world. Premiums tend to skew higher for young drivers because they don’t have as much experience on the road. Among all ages, teenagers have the highest accident rate and a fatal crash rate that’s three times the rate of older drivers, according to the Centers for Disease Control and Prevention (CDC).

The breakdown in the table below shows the average monthly car insurance price for a Honda Accord for each age group, as well as the insurer offering the lowest rates and its average monthly cost.

Teens face the highest average monthly premium, with Elephant offering the lowest rate, at $176 per month. You’ll notice that prices drop quite a lot once you reach your 20s. And from your 30s onward, Safeco consistently takes the cake for the cheapest Honda Accord car insurance.

Honda Accord Insurance Rates by Driving Record

Driving history plays a huge role in how much you pay for auto insurance. A spotty record indicates you’re riskier to insure, causing insurers to charge higher premiums. On the flip side, a clean record can help keep your rates in check.

We gathered data for Honda Accord owners with different driving records, which you’ll see in the table below. Look at the average monthly premiums for different driving histories and check out the cheapest insurer and its average monthly rate for each category.

As you can see, an at-fault accident can bump up your average monthly payment, while a DUI sends it soaring. Safeco is your best option for low car insurance rates if you have a clean record, a speeding ticket, or an at-fault accident. But Liberty Mutual has the most affordable premiums after a DUI.

Honda Accord Features and Options That Affect Insurance Rates

Your Accord comes with different features and options depending on the trim level and add-on packages you choose — and many of them can affect your car insurance costs. Here are some variables that are specific to the Honda Accord that can affect your premiums:

• Theft rate: The Honda Accord is a popular target for thieves. As of 2024, the Accord is among the top three most targeted vehicles for catalytic converter theft, according to CARFAX. It was also the sixth most stolen vehicle overall in 2023.
• Safety technology: Advanced safety features can reduce the risk of accidents and injuries, helping to lower insurance rates. Newer Accord models typically have more built-in safety tech than older ones, such as Honda Sensing, which became standard in 2015 and newer models.
• Trim level: You often get more expensive parts and features as you move up in trim level, increasing a vehicle’s value and making it more expensive to repair. The trim level also determines your engine size. Options like turbo engines and higher horsepower can result in higher insurance costs.

How to Get Cheaper Car Insurance for Your Honda Accord

If you’re looking to save money on your Honda Accord’s insurance, here are five top tips tailored to your vehicle:

• Take advantage of Accord-specific discounts: Honda Accords earn high safety ratings, and many insurers offer discounts for features like anti-lock brakes, passive restraint systems (airbags, crumple zones), and anti-theft
• Choose a lower trim level: Higher trim levels — like Touring or Hybrid — come with higher-cost parts and features, raising insurance rates.
• Go for the higher deductible: A higher deductible on your collision and comprehensive coverage can dramatically lower your monthly rates. But keep in mind that while your up-front cost will be cheaper, you’ll pay more if you need to file a claim.
• Bundle your policies: Bundling other insurance policies — like homeowners or renters insurance — with your Accord’s auto insurance can qualify you for a multi-policy
• Get multiple quotes and shop around: Rates can change over time, so it’s a good idea to compare car insurance quotes from more than one company once or twice per year.

Honda Accord Auto Insurance FAQs

We’ve broken down answers to some of the most common questions about insuring a Honda Accord.

Are Honda Accords expensive to insure?

It depends on your overall insurance profile. Honda Accords are generally a bit more expensive to insure compared to the national average, according to Compare.com data. You’ll likely have more expensive coverage than with some of the Accord’s direct competitors, like the Nissan Altima or Hyundai Sonata, due to the Accord’s higher MSRP.

How much does it cost to insure a 2024 Honda Accord?

The average cost to insure a 2024 Honda Accord is $2017 per month, according to Compare.com data. How much you pay depends on your driving history, coverage needs, and other factors.

Is Honda insurance more expensive?

It depends. Honda insurance rates are typically in line with the national average. While some Honda models, like the Accord, may be slightly more expensive to insure than similar models from other brands, the difference is usually not significant.

What car is the most expensive to insure?

The most expensive vehicles to insure are high-end luxury vehicles and sports cars with MSRPs over $100,000. For the mainstream car buyer, the Dodge Challenger, Tesla Model 3 and Model Y, and BMW and Lexus models have the highest insurance price tags, according to our research.

Data Methodology:

Data scientists at Compare.com analyzed more than 50 million real-time auto insurance quotes from more than 75 partner insurers in order to compile the rates and statistics seen in this article. Compare.com’s auto insurance data includes coverage analysis and details on drivers’ vehicles, driving records, insurance histories, and demographic information.

All the rates listed in this article have been collected from a combination of real Compare.com quotes and external insurance rate data gathered in collaboration with Quadrant Information Services. Compare.com uses these observations to provide readers with insights into how auto insurance companies determine their premiums.

Sources:

1. Honda, “2024 Accord Sedan Features & Specs,” accessed July 11, 2024.
2. Honda, “What is Honda Sensing?,” accessed July 11, 2024.
3. Honda, “Accord Trim Level Comparison,” accessed July 11, 2024.
4. Honda, “2024 Accord,” accessed July 11, 2024.
5. National Highway Traffic Safety Administration, “Ratings,” accessed July 11, 2024.
6. J.D. Power, “2023 U.S. Auto Claims Satisfaction Study,” accessed July 11, 2024.
7. J.D. Power, “2023 U.S. Auto Insurance Study,” accessed July 11, 2024.
8. Centers for Disease Control and Prevention, “Risk Factors for Teen Drivers,” accessed July 11, 2024.
9. CARFAX, “Catalytic Converter Theft: 10 Most Targeted Vehicles,” accessed July 11, 2024.
10. National Insurance Crime Bureau, “2023 Most Stolen Vehicles,” accessed July 11, 2024.