Compare 2006 Honda Odyssey Insurance Rates

Scraping up a payment for overpriced Honda Odyssey insurance can empty your savings account, especially in this economy. Doing a price comparison is free, only takes a few minutes, and is a good way to cut your insurance bill. Consumers have many insurance companies to buy insurance from, and although it’s a good thing to have a choice, it makes it harder to locate the cheapest rates.

Impacting insurance rates for a Honda Odyssey

Consumers need to have an understanding of the factors that play a part in calculating your insurance rates. Knowing what controls the rates you pay helps enable you to make changes that will entitle you to big savings.

Shown below are some of the items that factor into prices.

  • Drive a safer car and pay less – Vehicles with good safety scores are cheaper to insure. Safer cars reduce injuries and better occupant protection translates into savings for insurance companies and more competitive rates for policyholders. If your Honda Odyssey has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website you may qualify for a discount.
  • What are your deductibles? – Physical damage insurance, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your Honda. Some instances where coverage would apply are collision with another vehicle, collision with an animal, and windstorm damage. Deductibles for physical damage are how much you are willing to pay out-of-pocket before a claim is paid by your company. The higher the amount you are required to pay out-of-pocket, the bigger discount you will receive for Odyssey coverage.
  • Do you know you’re credit rating? – Credit history is a large factor in determining your rates. If your credit score is not that good, you could save money insuring your 2006 Honda Odyssey by repairing your credit. Consumers who have excellent credit tend to be less risk to insure than drivers who have lower credit scores.
  • How many coverages with the same company – Many companies provide better rates to insureds who consolidate policies with them such as combining an auto and homeowners policy. Discounts can add up to anywhere from five to ten percent in most cases. If you currently are using one company, it’s in your best interest to shop around to verify if the discount is saving money. You may still find better rates by buying insurance from a different company.
  • Males pay more for insurance – Statistics show that men are more aggressive behind the wheel. However, don’t assume that women are better drivers. Both sexes tend to get into accidents in similar numbers, but the men cause more damage and cost insurance companies more money. Men also statistically receive more costly citations such as reckless driving.

The easiest way to compare policy rates is to know the trick car insurance companies participate in a system to compare their rates. The only thing you need to do is give them some information including whether you are married, if it has an alarm system, if you lease or own, and if you have a valid license. Your rating data is then submitted to insurance carriers in your area and you will receive price estimates instantly to find the best rate.

Policy discounts you shouldn’t miss

Companies offering auto insurance don’t necessarily list all available discounts in an easy-to-find place, so we break down some of the more common as well as the least known insurance savings. If they aren’t giving you every credit you qualify for, you are paying more than you should be.

  • Early Signing – Some insurance companies reward drivers for switching to them prior to your current policy expiration. This can save 10% or more.
  • Driver’s Ed – Have your child successfully complete driver’s ed class in school.
  • Senior Citizens – Mature drivers can possibly qualify for better insurance rates for Odyssey coverage.
  • Auto/Life Discount – Companies who offer life insurance give lower rates if you buy life insurance from them.
  • Anti-theft System – Vehicles equipped with anti-theft or alarm systems prevent vehicle theft and therefore earn up to a 10% discount.
  • Accident Forgiveness – Some insurance companies will allow you to have one accident without raising rates so long as you haven’t had any claims prior to the accident.
  • Organization Discounts – Participating in a professional or civic organization is a good way to get lower rates when buying insurance for Odyssey coverage.

Consumers should know that some credits don’t apply to the entire cost. Some only apply to individual premiums such as medical payments or collision. Even though it may seem like you could get a free insurance policy, it just doesn’t work that way.

Car insurance companies who might offer some of the above discounts are:

Before buying, ask all companies you are considering which discounts you may be entitled to. All car insurance discounts might not be offered in your area.

Insurance agents can help

When buying adequate coverage for your vehicles, there isn’t really a perfect coverage plan. Every situation is different so your insurance should reflect that These are some specific questions might help in determining if your situation may require specific advice.

  • Are my friends covered when driving my car?
  • How much liability do I need to cover my assets?
  • Should I have combined single limit or split liability limits?
  • Should I waive the damage coverage when renting a car?
  • Will my rates increase for filing one claim?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • What vehicles should carry emergency assistance coverage?
  • What is an SR-22 filing?
  • Does car insurance cover theft of personal property?
  • Am I better off with higher deductibles on my 2006 Honda Odyssey?

If it’s difficult to answer those questions but you know they apply to you, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, take a second and complete this form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and you can get the answers you need.

The coverage is in the details

Having a good grasp of your car insurance policy aids in choosing the right coverages and the correct deductibles and limits. The terms used in a policy can be impossible to understand and reading a policy is terribly boring. Shown next are typical coverage types found on most car insurance policies.

UM/UIM Coverage

This gives you protection when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries as well as your vehicle’s damage.

Because many people only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family.

Medical costs insurance

Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses for things like X-ray expenses, surgery, hospital visits, EMT expenses and ambulance fees. The coverages can be utilized in addition to your health insurance plan or if you lack health insurance entirely. 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 coverage is not universally available but can be used in place of medical payments coverage

Comprehensive or Other Than Collision

This pays for damage from a wide range of events other than collision. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive insurance covers things like hitting a bird, a broken windshield, damage from getting keyed and theft. The maximum payout a car insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Collision protection

This pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage protects against claims like backing into a parked car, crashing into a building and colliding with another moving vehicle. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible to save money on collision insurance.

Liability auto insurance

This protects you from damages or injuries you inflict on a person or their property by causing an accident. This coverage protects you from claims by other people, and doesn’t cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show liability limits of 50/100/50 that translate to $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property.

Liability insurance covers things such as medical expenses, repair bills for other people’s vehicles and loss of income. How much liability should you purchase? That is your choice, but you should buy as high a limit as you can afford.

Money doesn’t grow on trees

As you restructure your insurance plan, do not buy less coverage just to save a little money. There are a lot of situations where someone sacrificed physical damage coverage only to discover later that the savings was not a smart move. The ultimate goal is to buy enough coverage for the lowest price while not skimping on critical coverages.

We just presented a lot of information how to reduce 2006 Honda Odyssey insurance prices online. The key thing to remember is the more price quotes you have, the better your chances of lowering your rates. You may even discover the lowest rates come from a smaller regional carrier. Regional companies may cover specific market segments cheaper than the large multi-state companies such as State Farm, Geico and Nationwide.

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