How many times have you told yourself to find low-cost Honda Odyssey insurance in Indianapolis? Have you finally had enough of sacrificing to make your insurance payment? You are no different than many other consumers in Indiana.
Unthinkable but true, over 70% of consumers kept their policy with the same company for over three years, and approximately 40% of consumers have never shopped around. Drivers in Indianapolis could pocket as much as $700 a year just by comparing rates, but they just don't understand the amount of money they would save if they swap their current policy for a cheaper one. There is such a variety of auto insurance companies to pick from, and even though it's nice to be able to choose, it makes it harder to find the lowest cost provider for Honda Odyssey insurance in Indianapolis.
It's smart to do rate comparisons before your next renewal because rates go up and down regularly. Just because you found the best deal on Honda Odyssey insurance in Indianapolis six months ago you can probably find a better price now. Block out anything you think you know about insurance because it's time to teach you the quickest way to find better rates and still maintain coverage.
Locating the best rates in Indianapolis is quite easy if you know the best way to do it. If you already have coverage, you will most likely be able to get lower rates using this information. Smart buyers just need to understand the quickest way to compare different rates online.
How to compare free Indianapolis Honda Odyssey insurance rate quotes
Getting a cheaper price on insurance can be relatively painless. You just have to take a few minutes comparing rate quotes from some recommended companies.
It's so simple to compare insurance quotes online makes it a waste of time to spend your day driving to and from local insurance agencies. Shopping for insurance online can eliminate the need for a local agent unless you prefer the trained advice that only an agent can give. Some companies do allow you to find lower rates online but have your policy serviced through an agent.
The car insurance companies shown below are ready to provide price quotes in Indianapolis, IN. If the list has multiple companies, we recommend you compare several of them to find the most affordable car insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Odyssey EX W/Rear Entertainment||$132||$288||$294||$18||$88||$820||$68|
|Odyssey EX-L W/Rear Entertainment||$172||$400||$340||$20||$102||$1,034||$86|
|Odyssey EX-L W/Navigation||$220||$472||$290||$18||$86||$1,086||$91|
|Get Your Own Custom Quote Go|
Table data represents single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Indiana minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Rate quotes do not factor in vehicle location which can increase or decrease rates noticeably.
Price comparison of only insuring for liability
The information below visualizes the comparison of Honda Odyssey insurance prices with and without physical damage coverage. The rate quotes are based on no violations or claims, $1,000 deductibles, married female driver, and no discounts are factored in.
Are you wasting money paying for full coverage?
There is no clear-cut formula for eliminating comprehensive and collision coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than about 10% of replacement cost minus your deductible, then it could be time to drop full coverage.
For example, let's assume your Honda Odyssey replacement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, you would only receive $5,000 after paying your deductible. If premium cost is more than $500 a year for physical damage coverage, then you may want to consider only buying liability coverage.
There are some situations where only buying liability is not a good plan. If you still have a loan on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if you don't have enough money to buy a different vehicle if your current one is totaled, you should maintain full coverage.
Higher deductibles lower rates
The diagram below demonstrates how deductible levels and can change Honda Odyssey insurance costs for each age group. The data is based on a married female driver, comprehensive and collision coverage, and no discounts are taken into consideration.
Annual premiums for males compared to females in Indianapolis
The chart below illustrates the difference between Honda Odyssey auto insurance rates for male and female drivers. The rates are based on no accidents, no driving violations, full coverage, $500 deductibles, single marital status, and no discounts are applied to the premium.
Why you need insurance for your Odyssey
Despite the fact that auto insurance is not cheap in Indianapolis, buying auto insurance may be mandatory for several reasons.
- Most states have minimum mandated liability insurance limits which means you are required to carry specific limits of liability insurance in order to drive the car. In Indiana these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a loan on your Honda Odyssey, it's most likely the lender will force you to have full coverage to guarantee payment of the loan. If coverage lapses or is cancelled, the bank may buy a policy for your Honda at a more expensive rate and require you to reimburse them the higher premium.
- Insurance safeguards both your vehicle and your assets. It will also cover hospital and medical expenses for yourself as well as anyone injured by you. Liability coverage will also pay to defend you if you are sued as the result of your driving. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will pay to have it repaired.
The benefits of carrying adequate insurance definitely exceed the cost, especially when you need to use it. In a recent study of 1,000 drivers, the average customer overpays more than $850 per year so shop around each time the policy renews to save money.
Indianapolis Insurance Rates are Influenced by These Factors
The best way to find cheaper insurance is to take a look at the factors that play a part in calculating your insurance rates. If you know what determines premiums, this helps enable you to make changes that can earn you lower insurance prices. Many things are used when quoting car insurance. Some are pretty understandable such as your driving history, although some other factors are more transparent like your continuous coverage or how safe your car is.
The factors shown below are a partial list of the pieces insurance companies consider when setting your prices.
- Extra coverages can add up - Insurance policies have a lot of optional add-on coverages that sound like a good idea at the time if you aren't diligent. Insurance for personal injury protection, better glass coverage, and membership fees are some examples. They may seem like a good idea when discussing your needs, but if you have no use for them consider taking them off your policy.
- Obey driving laws and save - Having a single ticket can increase the cost of insurance substantially. Attentive drivers get better prices than bad drivers. Drivers who get multiple violations such as reckless driving, hit and run or driving under the influence might be required by their state to prove financial responsibility with their state in order to prevent their license from being revoked.
- Cheaper premiums with safer cars - Cars with five star safety ratings can get you lower premiums. The safest vehicles reduce injuries and lower injury rates translates into fewer and smaller insurance claims and cheaper rates on your policy.
- How much liability do you need? - The liability section of your policy provides coverage in the event that you are found liable for causing damage or personal injury in an accident. It provides legal defense coverage which can be incredibly expensive. Liability is cheap compared to insuring for physical damage coverage, so buy as much as you can afford.
- Get better premiums after the wedding - Having a wife or husband may save some money on your insurance bill. Having a spouse translates into being more responsible it has been statistically shown that married drivers tend to file fewer claims.
- High credit scores save money - An insured's credit score factor in determining what you pay for insurance. Therefore, if your credit history is lower than you'd like, you could potentially save money when insuring your Honda Odyssey by improving your rating. People that have high credit scores tend to be better risks to insure than drivers with lower ratings.
- Continuous insurance coverage lowers premiums - Having an insurance coverage lapse is a guaranteed way to increase your insurance rates. Not only will you pay higher rates, getting caught without coverage can result in a hefty fine and possibly a revoked license.
- Does car insurance cost less for females? - Statistics have proven women tend to be less risk to insure than men. However, don't assume that men are worse drivers. Women and men are responsible for fender benders in similar percentages, but the male of the species have costlier accidents. Not only that, but men also get ticketed for serious violations such as driving while intoxicated (DWI) or driving recklessly.
- Honda Odyssey insurance loss statistics - Insurers take into consideration historical loss data for every vehicle when they calculate premium prices for each model. Vehicles that historically have higher losses will cost more to insure.
The next table illustrates the insurance loss data for Honda Odyssey vehicles. For each coverage category, the statistical loss for all vehicles, regardless of make or model, equals 100. Values below 100 suggest losses that are better than average, while percentages above 100 show a trend for more claims or an increased chance of larger losses than average.
Honda Odyssey Insurance Claim Statistics
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Honda Odyssey 78 83 75 82 78 71
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Lower rates by qualifying for discounts
Some providers do not list all discounts very clearly, so here is a list a few of the more well known and the harder-to-find credits available to you. If you check and find you aren't receiving every discount you qualify for, you're paying more than you need to.
- Early Signing - A few insurance companies allow discounts for switching companies before your current Odyssey insurance policy expires. It's a savings of about 10%.
- Driving Data Discount - People who choose to allow driving data submission to look at their driving habits remotely like Drivewise from Allstate or In-Drive from State Farm might get better premium rates as long as the data is positive.
- Drivers Education - Teen drivers should enroll and complete driver's education in high school.
- Anti-theft System - Cars and trucks with anti-theft systems are stolen less frequently and earn discounts up to 10% off your Indianapolis car insurance quote.
- Discounts for Safe Drivers - Drivers who avoid accidents can save up to 40% or more on their Indianapolis car insurance quote compared to accident prone drivers.
- Accident-Free Discounts - Insureds who avoid accidents and claims have much lower rates in comparison to drivers with a long claim history.
- Student in College - College-age children who attend college more than 100 miles from Indianapolis without a vehicle on campus can be insured at a reduced rate.
- Own a Home - Owning a house in Indianapolis can get you a discount since home ownership requires personal responsibility.
- Multi-line Discount - Some companies give a discounted price on car insurance if you buy a life policy as well.
You can save money using discounts, but most discounts do not apply to all coverage premiums. Most only reduce individual premiums such as physical damage coverage or medical payments. Just because it seems like you can get free auto insurance, you won't be that lucky. But any discount will bring down your premiums.
A list of companies and their offered discounts can be found below.
- State Farm has savings for driver's education, anti-theft, defensive driving training, Drive Safe & Save, passive restraint, and multiple autos.
- Nationwide offers premium reductions for good student, business or organization, defensive driving, Farm Bureau membership, and easy pay.
- GEICO may have discounts that include anti-theft, military active duty, driver training, good student, defensive driver, and five-year accident-free.
- AAA discounts include AAA membership discount, education and occupation, good student, pay-in-full, multi-car, multi-policy, and anti-theft.
- 21st Century may include discounts for student driver, theft prevention, early bird, 55 and older, and driver training.
- The Hartford offers discounts for bundle, driver training, anti-theft, defensive driver, air bag, and good student.
Before buying, ask each insurance company to apply every possible discount. Depending on the company, some discounts may not apply to policyholders everywhere. To view car insurance companies that offer some of these discounts in Indiana, click here to view.
Shop online but buy locally
Some consumers would rather go talk to an agent and we recommend doing that Good agents can point out coverage gaps and help file insurance claims. A good thing about comparing insurance prices online is you may find cheap car insurance rates and still buy from a local agent.
By using this quick form, your insurance data is instantly submitted to local insurance agents in Indianapolis who will give competitive quotes for your car insurance coverage. You never need to search for any insurance agencies since rate quotes are delivered directly to your email. If you wish to get a rate quote from one company in particular, you just need to find their quoting web page and complete a quote there.
Finding the right insurer shouldn't rely on just a cheap price. Any agent in Indianapolis should be willing to answer these questions.
- Are there any hidden costs in their price quote and does it include driving and credit history?
- Is there a 24/7 contact number?
- When do they do a full risk review?
- Do they have designations such as AIC, CPCU, or CIC?
- What are their preferred companies if they are an independent agency?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
- Do they get paid more for recommending certain coverages?
- Do they assist clients in filing claims?
When looking for a reputable agency, you must know there are a couple different types of agencies and how they can service your needs differently. Car insurance agents are categorized either exclusive or independent. Either type can properly insure your vehicles, but we need to point out why they differ since it may influence your agent selection.
Exclusive Car Insurance Agencies
Exclusive agents can only quote rates from one company and some examples include Allstate, State Farm and Farm Bureau. These agents are not able to place coverage with different providers so they really need to provide good service. They are usually well trained in insurance sales which helps them sell on service rather than price.
Below is a short list of exclusive insurance agencies in Indianapolis that are able to give rate quotes.
Independent Insurance Agents
Independent agents are normally appointed by many insurers so they have the ability to put coverage through many companies and get you the best rates possible. If your premiums go up, they simply move the coverage in-house and you can keep the same agent.
If you are comparing rate quotes, you need to get insurance quotes from multiple independent agents to get the most accurate price comparison.
Below are Indianapolis independent agencies that can give you rate quotes.
Persistence pays off
When shopping online for auto insurance, it's very important that you do not reduce coverage to reduce premium. In many instances, an insured dropped liability limits or collision coverage only to regret they didn't purchase enough coverage. Your strategy should be to purchase plenty of coverage at a price you can afford, but do not sacrifice coverage to save money.
There are still a few companies who do not provide rate quotes online and usually these smaller companies only sell coverage through independent insurance agents. Cost effective Honda Odyssey insurance can be found from both online companies as well as from insurance agents, and you should be comparing both to get a complete price analysis.
Throughout this article, we presented a lot of tips how to compare Honda Odyssey insurance prices in Indianapolis. The most important thing to understand is the more price quotes you have, the better your comparison will be. You may even find the lowest prices are with the smaller companies. Regional companies can often provide lower rates in certain areas than the large multi-state companies such as Allstate and Progressive.
Much more information about auto insurance in Indiana is located below:
- Crash Avoidance Technologies FAQ (iihs.org)
- Who Has Cheap Car Insurance for Drivers Under 21 in Indiana? (FAQ)
- How Much are Auto Insurance Quotes for a 20 Year Old Male in Indiana? (FAQ)
- Distracted Driving Extends Beyond Texting (State Farm)
- Credit and Insurance Scores (Insurance Information Institute)
- Understanding Rental Car Insurance (Insurance Information Institute)