Cheapest 1995 Honda Prelude Insurance Rates in 2023
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UPDATED: Mar 24, 2020
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Searching for better car insurance rates for your Honda Prelude? Having to pay for overpriced car insurance can dwindle your savings account and force you to prioritize other expenses. Comparison shopping is a great way to help make ends meet. You have so many insurers to insure vehicles with, and even though it’s nice to have multiple companies, lots of choices makes it harder to compare rates and cut insurance costs.
It is always a good idea to compare prices before your policy renews because rates fluctuate regularly. Despite the fact that you may have had the best deal on Prelude insurance a couple years back you can probably find a better price now. There is too much inaccurate information about car insurance online, so we’re going to give you a lot of great tips on how to find affordable car insurance.
Finding affordable coverage is easy if you know what you’re doing. If you currently have car insurance, you stand a good chance to be able to lower your premiums substantially using these tips. Vehicle owners just need to understand how to shop their coverage around on the web.
Discounts are great for lower rates
Companies offering auto insurance do not advertise all their discounts in a way that’s easy to find, so we took the time to find some of the more common and the harder-to-find insurance coverage savings. If you aren’t receiving every discount available, you’re paying more than you need to.
- Save with a New Car – Insuring a new car is cheaper because new vehicles have to meet stringent safety requirements.
- Homeowners Discount – Owning a house may earn you a small savings because owning a home requires personal responsibility.
- Fewer Miles Equal More Savings – Fewer annual miles on your Honda could qualify for discounted rates on garaged vehicles.
- Multi-car Discount – Buying insurance for more than one vehicle on one policy qualifies for this discount.
- Organization Discounts – Being a member of a qualifying organization is a good way to get lower rates on your policy on Prelude insurance.
- Theft Prevention System – Vehicles with anti-theft systems are stolen less frequently and therefore earn up to a 10% discount.
- Anti-lock Brake Discount – Anti-lock brake equipped vehicles can avoid accidents and will save you 10% or more.
- Paperless Signup – A handful of insurance companies may give you up to $50 for buying a policy and signing up digitally online.
- Sign Early and Save – A few companies offer discounts for switching to them before your current policy expires. It can save you around 10%.
- Federal Employees – Simply working for the federal government can save as much as 8% on Prelude insurance with a few insurance coverage companies.
A little note about advertised discounts, some of the credits will not apply to your bottom line cost. Some only apply to the cost of specific coverages such as collision or personal injury protection. So when it seems like you could get a free insurance coverage policy, you’re out of luck.
For a list of providers who offer insurance coverage discounts, click this link.
Factors that can influence insurance rates for a Honda Prelude
It’s important that you understand the rating factors that go into determining the price you pay for car insurance. Understanding what determines base rates helps enable you to make changes that will entitle you to better car insurance rates.
Listed below are some of the items that factor into prices.
- Credit scores impact car insurance rates – Having a bad credit history is a important factor in determining your rates. If your credit rating is not that good, you could save money insuring your 1995 Honda Prelude by improving your credit score. People with high credit scores tend to be more responsible than drivers with lower credit scores.
- An active claims history can cost you – If you are a frequent claim filer, you can expect either a policy non-renewal or much higher rates. Insurance companies give better rates to policyholders who do not file claims often. Auto insurance is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
- Older drivers save more – Young drivers are statistically proven to be more careless when driving so car insurance rates are higher. If you’ve ever had to add a teen driver onto a policy can be quite pricey. More mature drivers are viewed as being more responsible, file fewer claims and get fewer tickets.
- Discounts for multiple policies – The majority of insurance companies provide better rates to people who carry more than one policy such as combining an auto and homeowners policy. Discounts can amount to 10 percent or more. Even though this discount sounds good, it’s in your best interest to compare other company rates to confirm you are receiving the best rates possible. Consumers may find a better deal by buying insurance from more than one company.
- Extra coverages can waste money – There are a ton of extra coverages that can waste your money if you aren’t careful. Coverages for rental car reimbursement, accident forgiveness and additional equipment coverage are some examples. These coverages may sound good at first, but now you might not need them so eliminate them to save money.
- Don’t cancel a policy without a new one in place – Not having insurance can get your license suspended and your next policy will cost more because you let your insurance expire. Not only will you pay more, but being ticketed for driving with no insurance will get you a license revocation or jail time.You may need to provide proof of insurance in the form of an SR-22 filing with your state DMV.
- Poor driving leads to higher costs – Even a single speeding ticket can boost insurance rates forty percent or more. Careful drivers have lower premiums than bad drivers. Drivers who get serious violations such as reckless driving, hit and run or driving under the influence may be required to file a proof of financial responsibility form (SR-22) with the DMV in their state in order to continue driving.
- Don’t sacrifice liability coverage – Liability insurance is the protection if ever you are found to be at fault for damages from an accident. It will provide you with a defense in court which can cost thousands of dollars. This coverage is very inexpensive compared to physical damage coverage, so do not cut corners here.
You may need specialized coverage
When it comes to choosing coverage for your vehicles, there isn’t really a single plan that fits everyone. Your needs are not the same as everyone else’s so your insurance should reflect that These are some specific questions might point out if your situation might need an agent’s assistance.
- What is medical payments coverage?
- What is the difference between comprehensive and collision coverage?
- Should I buy full coverage?
- Why is insurance for a teen driver so high?
- Do I need roadside assistance coverage?
- Is my teen driver covered when they drive my company car?
- Am I covered when pulling a rental trailer?
- If my 1995 Honda Prelude is totaled, can I afford another vehicle?
If you’re not sure about those questions, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, complete this form or you can go here for a list of companies in your area. It’s fast, free and can help protect your family.
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Insurance coverage specifics
Knowing the specifics of your insurance policy can be of help when determining appropriate coverage and the correct deductibles and limits. Insurance terms can be difficult to understand and even agents have difficulty translating policy wording. Shown next are typical coverages found on most insurance policies.
Comprehensive coverage – Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things like fire damage, vandalism, damage from a tornado or hurricane, damage from flooding and falling objects. The most your insurance company will pay is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Liability – This coverage will cover damages or injuries you inflict on a person or their property that is your fault. It protects you from claims by other people. It does not cover your own vehicle damage or injuries.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 25/50/25 that translate to $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged property.
Liability can pay for things such as repair costs for stationary objects, structural damage, attorney fees, medical services and medical expenses. The amount of liability coverage you purchase is a personal decision, but buy as much as you can afford.
Uninsured/Underinsured Motorist coverage – This coverage protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants and damage to your Honda Prelude.
Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. So UM/UIM coverage is very important.
Collision – Collision insurance covers damage to your Prelude resulting from a collision with an object or car. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision insurance covers things such as hitting a parking meter, sideswiping another vehicle and damaging your car on a curb. This coverage can be expensive, so consider removing coverage from older vehicles. You can also choose a higher deductible to save money on collision insurance.
Medical payments coverage and PIP – Med pay and PIP coverage pay for expenses such as X-ray expenses, dental work, chiropractic care and funeral costs. The coverages can be used in conjunction with a health insurance program or if you are not covered by health insurance. It covers not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state but can be used in place of medical payments coverage
Low-cost 1995 Honda Prelude insurance is definitely available both online as well as from independent agents, and you should compare price quotes from both in order to have the best price selection to choose from. Some companies don’t offer online quoting and many times these regional insurance providers only sell through independent insurance agents.
When buying insurance coverage, you should never buy less coverage just to save a little money. In many cases, drivers have reduced liability coverage limits and discovered at claim time that the small savings ended up costing them much more. Your strategy should be to get the best coverage possible for the lowest price while not skimping on critical coverages.
Additional detailed information can be read in these articles:
- Child Safety FAQ (iihs.org)
- Determing Auto Insurance Rates (GEICO)
- No-Fault Auto Insurance Statistics (Insurance Information Insitute)
- Think You’re a Safe Driver? (State Farm)
- Tread Depth and Tire Safety (State Farm)
- How Much Auto Coverage do I Need? (Insurance Information Insitute)
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