Everything You Need to Know

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When looking at Honda CR-V insurance, it’s important to know how much you can expect to pay. Insurance coverage varies depending on numerous factors, some of which involve you as the driver while others take into consideration the age and features found within the CR-V. Learn more about the average insurance costs and how you can save additional money before you get behind the wheel of the CR-V.

What Is the Average Honda CR-V Insurance Cost?

Per ValuePenguin, the cost to insure a Honda CR-V is one of the least expensive options found in the current Honda lineup. Expect a 30-year-old driver to pay about $2003 for a one-year policy. This price is the second-cheapest behind the Odyssey minivan and roughly 5% cheaper than the full-size Pilot SUV.

Naturally, car insurance costs vary depending upon the carrier and what type of coverage you carry. According to Smart Financial, the following are the 12-month premium rates of several companies for the 2021 CR-V:

  • Penn National: $1069.
  • Victoria: $1113.
  • Progressive: $1330.
  • SECURA Insurance: $1428.
  • Atlantic States Insurance $1500.
  • USAA: $1574.
  • State Auto: $1621.
  • Farm Bureau Mutual (IA Group): $1665.
  • Allied: $1671.

    What Affects Honda CR-V Insurance Costs?

    Numerous factors impact Honda CR-V insurance rates. Some companies concentrate on your vehicle’s make and model, while others consider you as the driver. Comparing quotes from several different companies allows you to select the best option.

    The insurance rates vary depending on what year your CR-V is. Rates are typically higher for newer models compared to older ones because older models are usually cheaper to repair.

    According to Expert Insurance Reviews, expect to pay the following amounts in annual car insurance if you carry liability, comprehensive, and collision coverage:

    • 2020 CR-V: $1140.
    • 2019 CR-V: $1128.
    • 2018 CR-V: $1118.
    • 2017 CR-V: $1116.
    • 2016 CR-V: $1102.
    • 2015 CR-V: $1088.

      Rates usually decrease over the years, so in order to get the most affordable insurance costs, consider purchasing an older CR-V.

      Your age can also affect your insurance rates. For instance, a 20-year-old driver pays $1394 more for CR-V car insurance compared to a 30-year-old driver. Younger drivers lack experience on the roads, making them an added risk. As a result, providers charge drivers under the age of 25 at higher rates.

      Where you live can increase costs as well. Certain cities have higher population densities and auto theft rates, putting you at a higher risk than someone who lives in a rural area.

      Traffic violations can impact the insurance as they can increase your annual premiums. Teenagers and drivers in their 20s experience the highest jump in rates if they have violations on their record.

      Depending on what you have installed in your CR-V, the safety features found on the SUV can also lower your insurance costs. Some of the features found on the 2020 CR-V include the following:

      • Driver, passenger, front and rear head, and front side airbags.
      • Four-wheel anti-lock brake system.
      • Four-wheel disc brakes.
      • Brake assist.
      • Electronic stability control.
      • Daytime running lights.
      • Child safety locks.
      • Traction control.
      • Lane-keeping assist.
      • Lane departure warning.

        What Type of CR-V Insurance Do You Need?

        Each state has its own car insurance laws, with many only requiring a specific level of liability coverage. However, if you finance your CR-V through a dealership, you might need to purchase additional coverage until you pay off the loan.

        This extra coverage typically includes collision and comprehensive policies. Luckily, these additional policies average lower rates compared to other SUVs.

        How Can You Save on Honda CR-V Insurance?

        To help you save more money on your CR-V insurance, there are several avenues to consider. In six year’s time, traffic violations will be removed from your driving record as long as you practice safe driving habits.

        You can also ask your provider about specific discounts that you and your CR-V qualify for. You might also qualify for several discounts, adding up to impressive savings.

        If you’re shopping for CR-V insurance, check out one of the following providers as they might offer numerous discounts:

        • GEICO: As one of the most inexpensive large carriers that you’ll find, GEICO doesn’t use agents to help cut its costs. You can usually save 15 percent compared to other companies.
        • State Farm: You might pay more to use this company, but when you purchase CR-V insurance from State Farm, you get the benefits associated with a large provider with a local agent affiliated with the company.
        • Erie: Even though it’s a relatively small insurance company, Erie is rather competitive when it comes to its rates.

          Car Talk explains that you might be able to qualify for other discounts, depending upon your insurance provider. Some of these discounts might include the following:

          • Paying in full. If you can pay off your entire payment in one lump sum annually, your provider might give you a discount.
          • Association membership. If you’re a member of a large club, professional association, or industry group, you might qualify for a discount. Some organizations include AARP and AAA. Discounts require active membership, so make sure to pay your dues.
          • Anti-theft devices. In three of the four CR-V trims, Honda includes a security system as standard. The base LX trim is the only one in which it doesn’t come standard. Make sure you ask your carrier what type of discount you might receive with anti-theft equipment on your CR-V. Depending on the depreciation of the vehicle, you might want to purchase a higher trim to receive this discount.
          • Driver safety course. Your provider might offer discounts in taking a defensive driving course. This class is beneficial if you’re a new driver or one reaching retirement age. Oftentimes your insurance company can provide more information about registering.

            The Honda CR-V is a safe and reliable vehicle that you can trust to protect you, even if you’re involved in an altercation. If you’re looking at purchasing a new or used CR-V, it’s important to know how much insurance costs might be and what factors play a role in these prices. Pay attention to any discounts you might qualify for from your insurance provider or based on the type of CR-V you purchase.

            Sources:

            https://smartfinancial.com/vehicles/honda/cr-v

            https://www.cartalk.com/insurance/honda-crv-insurance

            https://www.valuepenguin.com/cost-of-honda-car-insurance

            https://www.expertinsurancereviews.com/honda-cr-v-insurance-rates/

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