Cheapest 2003 Honda S2000 Insurance Rates in 2023

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Feb 26, 2020

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Searching for lower insurance coverage rates for your Honda S2000? Overwhelmed by the crazy number of insurance coverage companies? You’re not the only one! You have so many options available that it can be a real challenge to find the best price.

If you currently have a car insurance policy, you should be able to reduce your rates substantially using these methods. Pricing more affordable car insurance can be fairly easy. But vehicle owners benefit from understanding how insurance companies sell insurance online and use this information to your advantage.

Pay less for 2003 Honda S2000 insurance

Car insurance is not cheap, but you can get discounts that you may not know about. Most are applied when you quote, but lesser-known reductions have to be manually applied before you will receive the discount.

  • Employee of Federal Government – Employees or retirees of the government could cut as much as 10% off for S2000 coverage with certain companies.
  • College Student – Youth drivers who live away from home and do not have access to a covered vehicle may be able to be covered for less.
  • Pay Now and Pay Less – If paying your policy premium upfront rather than paying monthly you can actually save on your bill.
  • Theft Prevention Discount – Anti-theft and alarm systems are stolen less frequently and qualify for as much as a 10% discount.
  • Accident Forgiveness – Some insurance companies will allow you to have one accident before your rates go up as long as you don’t have any claims for a particular time prior to the accident.

Consumers should know that most of the big mark downs will not be given to the entire policy premium. The majority will only reduce the cost of specific coverages such as comprehensive or collision. So even though they make it sound like you can get free auto insurance, you’re out of luck. But any discount will help reduce your overall premium however.

For a list of insurance companies who offer auto insurance discounts, click this link.

Comprehensive Car Insurance Comparison Quotes

Most companies such as Progressive, GEICO, Allstate and State Farm provide price estimates online. The process doesn’t take a lot of time as you simply type in your coverage preferences as detailed in the form. Once you submit the form, their system will obtain credit information and your driving record and generates pricing information determined by many factors.

This makes comparing rates easy, but the time required to go to each company’s website and repetitively enter the same data into a form can be a bit tiresome and repetitive. But it’s very important to perform this step in order to get a lower rate.

There is a better way to compare rates

The preferred way to lower your rates uses one form that analyzes rates from a lot of companies. This type of form saves time, eliminates form submissions, and makes rate comparisons much simpler. Immediately after you send the form, it is quoted and you can select any one of the price quotes you receive.

If one or more price quotes are lower than your current rates, you simply finish the application and buy the new coverage. The whole process just takes a couple of minutes and you’ll know if lower rates are available.

To save time and use this form to compare rates, click here to open in new window and input your coverage information. To compare your current rates, we recommend you copy your coverages as shown on your current policy. Doing this guarantees you’re receiving rate comparison quotes for similar insurance coverage.

Factors that can influence Honda S2000 insurance rates

Consumers need to have an understanding of the rating factors that play a part in calculating your auto insurance rates. When you know what positively or negatively controls the rates you pay enables informed choices that may reward you with big savings.

  • Do you have enough liability coverage? – Your policy’s liability coverage provides coverage in the event that you are found to be at fault for personal injury or accident damage. Liability provides legal defense starting from day one. Liability is cheap as compared to coverage for physical damage, so buy as much as you can afford.
  • Equipment add-ons that lower auto insurance rates – Driving a car with a theft deterrent system can help lower your rates. Anti-theft features like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all hinder auto theft.
  • Drive less and save money – The more you drive each year the higher your rates will be. Most insurance companies charge to insure your cars based on their usage. Cars used primarily for pleasure use can get a lower rate than those used for commuting. Improper usage on your S2000 can result in significantly higher rates. Double check that your auto insurance policy shows the correct driver usage, because it can save money.
  • Older drivers save more – Teen drivers have a tendency to get distracted easily behind the wheel so auto insurance rates are higher. If you’ve ever had to add a young driver to your auto insurance policy can break the bank. Older drivers are more responsible, tend to file fewer claims and tend to be better behind the wheel.
  • No coverage gaps is important – Not having insurance is a misdemeanor and as a result your rates will increase for letting your insurance lapse. Not only will rates go up, getting caught without coverage will get you a steep fine or even jail time.Then you may be required to prove you have insurance by filing a SR-22 with your state department of motor vehicles.
  • Your job and insurance rates – Careers like lawyers, business owners and stock brokers are shown to have the highest rates due to stressful work requirements and lengthy work days. On the other hand, jobs such as actors, students and the unemployed pay the least for S2000 coverage.

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Tailor your coverage to you

When it comes to choosing proper insurance coverage for your vehicles, there really is not a best way to insure your cars. Every insured’s situation is different.

These are some specific questions may help highlight if your insurance needs could use an agent’s help.

  • What is no-fault insurance?
  • Does coverage extend to Mexico or Canada?
  • Is business property covered if stolen from my car?
  • Do I need added coverage for expensive stereo equipment?
  • What happens if I owe more than my 2003 Honda S2000 is worth?
  • Should I carry comprehensive and collision coverage?
  • Who is covered by my policy?
  • What is high-risk coverage and where do I buy it?
  • Will filing a claim cost me more?

If it’s difficult to answer those questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, simply complete this short form.

Save $485 a year? Really?

Companies like Progressive, GEICO, Allstate and State Farm consistently run ads in print and on television. All the ads have a common claim of big savings if you change to them. How do they all make the same claim? This is how they do it.

Different companies have a preferred profile for the type of customer that is profitable for them. An example of a profitable customer might be over the age of 50, has no driving citations, and drives less than 7,500 miles a year. Any new insured who matches those parameters receives the best rates and most likely will save when they switch companies.

Consumers who don’t qualify for this ideal profile will have to pay a higher premium which leads to business going elsewhere. The ads state “people who switch” not “everybody who quotes” save that much. That is how companies can advertise the way they do.

Because of the profiling, you absolutely need to compare as many rates as you can. It’s not possible to predict which insurance companies will fit your personal profile best.

Coverages available on your policy

Understanding the coverages of your auto insurance policy helps when choosing appropriate coverage and proper limits and deductibles. Policy terminology can be confusing and nobody wants to actually read their policy.

Comprehensive protection – Comprehensive insurance coverage pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive insurance covers things such as damage from a tornado or hurricane, a broken windshield, hitting a deer and falling objects. The maximum payout your auto insurance company will pay is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Collision coverage – This coverage covers damage to your S2000 resulting from colliding with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for claims such as sustaining damage from a pot hole, hitting a parking meter, hitting a mailbox and backing into a parked car. Collision coverage makes up a good portion of your premium, so consider removing coverage from older vehicles. It’s also possible to raise the deductible to save money on collision insurance.

Medical expense coverage – Med pay and PIP coverage reimburse you for short-term medical expenses for things like pain medications, doctor visits, ambulance fees, nursing services and X-ray expenses. They can be utilized in addition to your health insurance plan or if you do not have health coverage. Medical payments and PIP cover you and your occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is not available in all states and may carry a deductible

Liability auto insurance – Liability insurance will cover injuries or damage you cause to other people or property. This coverage protects you against other people’s claims. Liability doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 25/50/25 which stand for a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000. Occasionally you may see one number which is a combined single limit which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability coverage pays for claims such as court costs, legal defense fees and bail bonds. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.

Uninsured or underinsured coverage – Uninsured or Underinsured Motorist coverage provides protection from other motorists when they do not carry enough liability coverage. It can pay for injuries to you and your family as well as damage to your Honda S2000.

Because many people carry very low liability coverage limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Usually these limits are set the same as your liablity limits.

Money doesn’t grow on trees

Cheap 2003 Honda S2000 insurance can be bought from both online companies as well as from independent agents, and you need to comparison shop both to get a complete price analysis. Some insurance companies don’t offer the ability to get a quote online and most of the time these regional insurance providers sell through independent agents.

When you buy insurance online, make sure you don’t skimp on critical coverages to save a buck or two. There are too many instances where drivers have reduced liability limits or collision coverage only to regret that saving that couple of dollars actually costed them tens of thousands. Your goal should be to buy enough coverage for the lowest price while not skimping on critical coverages.

In this article, we presented some good ideas how to save on insurance. The key thing to remember is the more you quote, the better your comparison will be. You may even find the best prices are with some of the lesser-known companies.

For more information, take a look at the resources below:

Use our FREE quote tool to compare rates now!

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