Honda Element Insurance Quotes in Cleveland

Regrettably, nearly 70% of drivers renewed their policy with the same company for at least four years, and 38% of customers have never shopped around. The average driver in Cleveland could save an average of roughly $729 each year by just comparing quotes, but they don’t believe how much they could save if they bought a different policy.

Insurance quote for Honda Element in ClevelandTruthfully, the best way to find low-cost Honda Element insurance is to do an annual price comparison from companies who can sell car insurance in Cleveland. Drivers can shop around by following these steps.

Step 1: Get an understanding of how car insurance works and the factors you can control to prevent high rates. Many risk factors that are responsible for high rates such as at-fault accidents, speeding tickets, and a negative credit score can be controlled by making minor changes in your lifestyle.

Step 2: Request rate estimates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give rate quotes from one company like Progressive and State Farm, while independent agencies can provide rate quotes from many different companies.

Step 3: Compare the price quotes to your existing rates to determine if switching companies saves money. If you can save some money and buy the policy, make sure coverage does not lapse between policies.

A good tip to remember is that you’ll want to compare similar limits and deductibles on every quote request and and to get price estimates from every insurance company. Doing this provides a level playing field and a thorough price selection.

Many insurance companies such as Progressive, GEICO, Allstate and State Farm allow you to get insurance quotes from their websites. Comparing Honda Element insurance rates online is quite simple as all you need to do is type in the coverages you want as detailed in the form. Once you submit the form, their system obtains information on your driving record and credit history and returns a price based on these factors.

This helps simplify price comparisons, and it is imperative to compare as many rates as possible in order to get cheap insurance pricing.

To save time and use this form to compare rates, take a look at the companies shown below. If you currently have coverage, we recommend you copy your coverages identical to your current policy. This makes sure you will have comparison quotes for exact coverage.

The companies shown below can provide price quotes in Ohio. If you wish to find the cheapest car insurance in Ohio, we recommend you click on several of them in order to find the most competitive rates.

Analysis of coverages

The coverage table shown next showcases detailed analysis of insurance rates for Honda Element models. Being aware of how prices are figured is important for making informed decisions when shopping around for a new policy.

Honda Element Insurance Rates in Cleveland, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Element LX 2WD $178 $324 $234 $14 $70 $820 $68
Element LX 4WD $178 $324 $234 $14 $70 $820 $68
Element EX 2WD $178 $324 $234 $14 $70 $820 $68
Element EX 4WD $178 $324 $234 $14 $70 $820 $68
Element SC 2WD $178 $324 $234 $14 $70 $820 $68
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Prices based on married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Price estimates do not factor in specific zip code location which can raise or lower premium rates significantly.

Car insurance deductibles

One common question asked by Cleveland drivers is the level to set your comp and collision deductibles. The figures shown below show the rate difference when you buy lower versus higher physical damage deductibles. The first set of rates uses a $100 physical damage coverage deductible and the second price table uses a $500 deductible.

Honda Element insurance premium rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Element LX 2WD $196 $352 $226 $14 $68 $881 $73
Element LX 4WD $196 $352 $226 $14 $68 $881 $73
Element EX 2WD $196 $352 $226 $14 $68 $881 $73
Element EX 4WD $196 $352 $226 $14 $68 $881 $73
Element SC 2WD $196 $352 $226 $14 $68 $881 $73
Get Your Own Custom Quote Go

Honda Element insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Element LX 2WD $142 $238 $226 $14 $68 $688 $57
Element LX 4WD $142 $238 $226 $14 $68 $688 $57
Element EX 2WD $142 $238 $226 $14 $68 $688 $57
Element EX 4WD $142 $238 $226 $14 $68 $688 $57
Element SC 2WD $142 $238 $226 $14 $68 $688 $57
Get Your Own Custom Quote Go

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Price information does not factor in specific location information which can modify coverage prices considerably.

We can estimate from the data above that using a $100 deductible will cost you about $16 more each month or $192 each year averaged for all Element models than opting for the higher $500 deductible. Since the policyholder would be required to pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you go at a minimum 25 months between claim filings, you would come out ahead going with the higher deductible. Here’s an example of how we made this calculation.

Average monthly premium for $100 deductibles: $73
Average monthly premium for $500 deductibles (subtract): – $57
Monthly savings from raising deductible: $16
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $16
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 25 months

One thing to note is that higher deductibles means you will have to pay more out-of-pocket when you do file a claim. It will be required that you have enough disposable savings in the event you have to pay the higher deductible.

Driving violations and accidents

The example below shows how speeding tickets and fender-benders raise Honda Element insurance costs for each different age category. The premiums are based on a married male driver, comp and collision included, $250 deductibles, and no other discounts are factored in.

Cleveland Insurance Rates are Influenced by These Factors

Lots of things are part of the equation when you quote your car insurance policy. Most are fairly basic like your driving record, although some other factors are less apparent such as your marital status and annual miles driven.

Why auto insurance is not optional

Despite the high insurance cost for a Honda Element in Cleveland, buying auto insurance serves a purpose in several ways.

The benefits of carrying enough insurance outweigh the cost, especially with large liability claims. An average driver in America is overpaying more than $800 each year so you should quote rates at every renewal to be sure current rates are still competitive.