Affordable Insurance for a Honda Odyssey in Las Vegas

Discount Honda Odyssey insuranceIt goes without saying that car insurance companies don’t want you to look at other companies. Insureds who get comparison quotes at least once a year are highly likely to switch companies because there is a significant possibility of finding a cheaper policy. A recent survey revealed that consumers who regularly compared price quotes saved $3,500 over four years as compared to drivers who don’t regularly compare prices.

If finding the cheapest price on Honda Odyssey insurance in Las Vegas is the reason you’re here, then understanding how to compare insurance coverage can make the process more efficient.

The preferred way to find affordable quotes for car insurance rates is to start comparing prices yearly from providers who provide auto insurance in Las Vegas.

  1. Learn about how insurance companies determine prices and the measures you can control to keep rates in check. Many risk factors that result in higher prices such as traffic citations, accidents, and a less-than-favorable credit history can be controlled by being financially responsible and driving safely. Read the full article for additional tips to lower rates and find overlooked discounts.
  2. Obtain price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give prices from a single company like Progressive or State Farm, while agents who are independent can give you price quotes from multiple sources. View rates
  3. Compare the new rate quotes to your current policy premium to see if a cheaper price is available in Las Vegas. If you can save some money, make sure the effective date of the new policy is the same as the expiration date of the old one.
  4. Give notification to your current company to cancel your current car insurance policy. Submit payment along with a signed and completed policy application for the new policy. As soon as you can, store the proof of insurance certificate in your vehicle.

One thing to remember is that you’ll want to make sure you compare identical deductibles and limits on every price quote and and to get rate quotes from all possible companies. This guarantees an apples-to-apples comparison and a complete selection of prices.

Choosing the best rates in Las Vegas is actually very simple if you learn how to start. Nearly anyone who requires lower cost auto insurance will probably be able to find better rates. Nevertheless, Nevada vehicle owners must know how companies sell online because rates are impacted by many factors.

Las Vegas Insurance Premiums are Influenced by These Factors

When buying insurance it’s important to understand some of the factors that help determine the level of your policy premiums. If you know what controls the rates you pay, this enables you to make decisions that may result in cheaper rates. Lots of factors are used in the calculation when you get a price on insurance. Some factors are common sense such as traffic violations, but other factors are less apparent such as your marital status or your financial responsibility.

The items below are a few of the things used by your company to calculate your premiums.

Small frequent insurance claims are not good – Insurance companies in Nevada award most affordable rates to policyholders who are not frequent claim filers. If you file claims often, you can expect higher rates. Auto insurance is intended to be relied upon for the large, substantial claims.

Prevent coverage lapses – Not maintaining insurance is against the law and any future policy may cost more because you let your insurance lapse for non-payment. Not only will you pay more, failure to provide proof of insurance might get you fines or a revoked license.

Tickets hurt – Drivers with clean records get better prices compared to bad drivers. Just one moving violation may increase your cost by as much as twenty percent. Drivers who have received serious citations such as DUI, reckless driving or excessive speeding may be required to prove financial responsibility with their state in order to prevent their license from being revoked.

The example below highlights how speeding tickets and fender-benders can impact Honda Odyssey insurance costs for different age groups. The information is based on a single female driver, full physical damage coverage, $500 deductibles, and no discounts are applied to the premium.

Deter theft and reduce prices – Choosing a vehicle with a theft deterrent system can help bring down rates. Systems that thwart thieves like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can thwart auto theft and help lower rates.

Rate your vehicle for proper use – Driving more miles in a year the more you will pay for insurance. The majority of insurers price each vehicle’s coverage based on their usage. Cars that have low annual miles receive better premium rates than those that get driven frequently. Make sure your insurance declarations sheet properly reflects the correct driver usage, because improper ratings can cost you money. An improperly rated Odyssey may be costing you higher rates.

Save money by eliminating add-on coverages – There are many extra add-on coverages that sound like a good idea at the time but may not be useful. Coverages for coverage for rental cars, high-cost glass coverage, and extra life insurance coverage may be wasting your money. They may sound like good ideas at first, but if you have no use for them eliminate them to save money.

Honda Odyssey historical loss data – Insurers use data from past claims as a way to help calculate a profitable premium rate. Models that are shown to have high amounts or severity of claims will have a higher cost to insure. The information below illustrates the actual insurance loss data for Honda Odyssey vehicles.

For each type of coverage, the statistical loss for all vehicles combined as an average is a value of 100. Numbers shown that are under 100 indicate a favorable loss history, while percentage values above 100 indicate a higher chance of having a claim or statistically larger claims.

Honda Odyssey Insurance Claim Statistics
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Honda Odyssey 78 83 75 82 78 71

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Facts and figures for Honda Odyssey insurance

The premium table shown below showcases detailed analysis of rate quotes for Honda Odyssey models. Having insight into how policy premiums are figured can be of help when making informed decisions when shopping around for a new policy.

Honda Odyssey Insurance Rates in Las Vegas, NV
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Odyssey LX $178 $340 $348 $20 $104 $990 $83
Odyssey EX $178 $414 $348 $20 $104 $1,064 $89
Odyssey EX W/Rear Entertainment $178 $414 $348 $20 $104 $1,064 $89
Odyssey EX-L $204 $486 $348 $20 $104 $1,162 $97
Odyssey EX-L W/Rear Entertainment $204 $486 $348 $20 $104 $1,162 $97
Odyssey EX-L W/Navigation $204 $486 $348 $20 $104 $1,162 $97
Odyssey Touring $232 $486 $348 $20 $104 $1,190 $99
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Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Nevada minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Premium amounts do not factor in specific Las Vegas garaging location which can raise or lower price quotes noticeably.

Should you raise deductibles?

A question often asked by Las Vegas drivers is how high should the deductibles for physical damage be. The rates below approximate the cost difference of buying low and high coverage deductibles. The first data table uses a $100 physical damage deductible and the second pricing table uses a $500 deductible.

Honda Odyssey insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Odyssey LX $232 $394 $308 $18 $92 $1,069 $89
Odyssey EX $232 $478 $308 $18 $92 $1,153 $96
Odyssey EX W/Rear Entertainment $232 $478 $308 $18 $92 $1,153 $96
Odyssey EX-L $266 $564 $308 $18 $92 $1,273 $106
Odyssey EX-L W/Rear Entertainment $266 $564 $308 $18 $92 $1,273 $106
Odyssey EX-L W/Navigation $266 $564 $308 $18 $92 $1,273 $106
Odyssey Touring $300 $564 $308 $18 $92 $1,307 $109
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Honda Odyssey insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Odyssey LX $168 $266 $308 $18 $92 $852 $71
Odyssey EX $168 $324 $308 $18 $92 $910 $76
Odyssey EX W/Rear Entertainment $168 $324 $308 $18 $92 $910 $76
Odyssey EX-L $194 $382 $308 $18 $92 $994 $83
Odyssey EX-L W/Rear Entertainment $194 $382 $308 $18 $92 $994 $83
Odyssey EX-L W/Navigation $194 $382 $308 $18 $92 $994 $83
Odyssey Touring $218 $382 $308 $18 $92 $1,018 $85
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Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Nevada minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, safe-driver, and multi-policy. Prices do not factor in vehicle location which can modify premium rates considerably.

Based on the figures above, using a $100 deductible will cost in the ballpark of $21 more each month or $252 annually than requesting the higher $500 deductible. Since the policyholder would be required to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you tend to go more than 19 months between claims, you would more than likely save some money by going with a higher deductible. The illustration below shows how you can come to your own conclusion.

Average monthly premium for $100 deductibles: $101
Average monthly premium for $500 deductibles (subtract): – $80
Monthly savings from raising deductible: $21
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $21
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 19 months

One important caveat is that raising deductibles to get cheaper rates means you will have to pay more when you file a claim. You need some extra savings in order to pay the deductible for vehicle repair.

Insurance discounts help lower rates for Honda Odyssey insurance in Las Vegas

Companies don’t necessarily list all discounts very clearly, so the below list has some of the more common as well as the least known credits available to you.Save money with discounts

Discounts lower rates, but most credits do not apply to your bottom line cost. Some only reduce specific coverage prices like medical payments or collision. If you do the math and it seems like it’s possible to get free car insurance, it’s just not the way it works.

The information below shows the difference between Honda Odyssey insurance rates with and without discounts applied. The premium estimates are based on a female driver, no claims or driving citations, Nevada state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, multi-policy, marriage, safe-driver, claim-free, and homeowner discounts applied.

To view companies that provide some of the discounts listed above in Nevada, click here.

Nevada auto insurance company ratings

Selecting a highly-rated car insurance company can be difficult considering how many companies provide coverage in Las Vegas. The information shown below could help you analyze which car insurance providers you want to consider when comparing rate quotes.

Top Auto Insurance Companies in Nevada
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
USAA 98 100 100 94% A++ 98.6
American Family 98 89 100 86% A 95.4
State Farm 88 93 96 90% A++ 92.4
The Hartford 94 92 90 89% A+ 91.7
AAA Insurance 88 89 95 91% A 91.2
GEICO 84 93 93 89% A++ 90.3
The General 89 91 89 88% A- 90
Titan Insurance 90 87 91 95% A+ 89.6
Progressive 84 91 93 87% A+ 89.5
Mercury Insurance 88 91 90 85% A+ 89.4
Allstate 85 90 92 88% A+ 89.3
Nationwide 87 88 84 90% A+ 88.7
Liberty Mutual 84 87 93 88% A 88.5
21st Century 85 86 87 88% A 86.7
Esurance 85 80 95 87% A+ 85.9
Safeco 85 85 85 86% A 85.8
Travelers 80 87 87 83% A++ 85.2
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Data Source: Best Car Insurance Companies

Quote more and you will save more

In this article, we covered some good ideas how you can find cheap Honda Odyssey insurance in Las Vegas. The most important thing to understand is the more companies you get premium rates for, the better likelihood of getting cheaper Las Vegas car insurance quotes. You may even find the lowest car insurance rates come from some of the lesser-known companies. Some small companies may have significantly lower premium rates on certain market segments than their larger competitors like Progressive or GEICO.

As you shop your coverage around, it’s very important that you do not skimp on coverage in order to save money. There have been many cases where an insured dropped liability limits or collision coverage only to find out that the small savings ended up costing them much more. Your aim should be to get the best coverage possible at the best possible price while not skimping on critical coverages.

More detailed auto insurance information can be read in these articles: