Finding economical coverage for a Honda CR-V is dependent upon a complicated formula that considers factors such as annual vehicle mileage, the likelihood of vehicle theft, and the deductible amount you use. Drivers pay on average $513 annually to insure their CR-V, but that is an approximation based on a 30-year-old married male driver with full comprehensive and collision coverage and $500 deductibles.
It’s more than likely you may not be 30 years old (or even male), maybe you are single instead of married, or maybe you want different physical damage deductibles. This illustrates why the only real way to find affordable rates for your Honda is to compare as many rates as possible.
The specific trim level will influence the coverage cost, so the cost to insure a CR-V LX 2WD trim level will be $18 lower than the price to insure the higher-priced CR-V EX-L 4WD version, as shown by the rates below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| CR-V LX 2WD | $126 | $198 | $196 | $12 | $58 | $590 | $49 |
| CR-V EX 2WD | $126 | $198 | $196 | $12 | $58 | $590 | $49 |
| CR-V LX 4WD | $126 | $198 | $196 | $12 | $58 | $590 | $49 |
| CR-V EX 4WD | $144 | $198 | $196 | $12 | $58 | $608 | $51 |
| CR-V EX-L 2WD | $144 | $198 | $196 | $12 | $58 | $608 | $51 |
| CR-V EX-L 4WD | $144 | $198 | $196 | $12 | $58 | $608 | $51 |
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Table data does not factor in specific zip code location which can influence auto insurance rates considerably.
Establishing which companies offer the lowest-priced insurance rates for a Honda CR-V requires a little more work than just quoting one company’s rates. Every auto insurer uses a different method to determine rates, so let’s look at the rankings for the insurance companies with the most affordable rates in Wisconsin.
It’s important to know that Milwaukee, WI insurance rates are calculated based on many things that control your annual premium. Improving your credit rating, buying another vehicle, or getting a speeding ticket can trigger changes in premium resulting in some companies being cheaper than before.
Find the Best Cheap Insurance for Your Honda
USAA normally has some of the most affordable car insurance rates in Milwaukee at around $586 a year. Partners Mutual, Erie, Rockford Mutual, and Rural Mutual Insurance also rank well as some of the more affordable Milwaukee, WI car insurance companies.
As shown in the rates above, if you are a policyholder with Partners Mutual and switched to USAA, you could realize yearly savings of approximately $22. Customers with Erie might save as much as $138 a year, and Rockford Mutual insureds might reduce rates by $146 a year.
Understand that those estimates are averaged for all insureds and vehicles and are not factoring in an exact vehicle garaging location for a Honda CR-V. So the insurer that has the lowest price for you may not even be in the top 30 companies shown above. That points out the importance of why you need to quote rates from many companies using your own driver information and specific vehicle type.
Safe drivers Milwaukee pay cheaper rates
The best way to score affordable insurance prices in Milwaukee for a CR-V is to be a cautious driver and avoid accidents and violations. The illustration below illustrates how speeding tickets and at-fault fender-benders can impact annual premium costs for each age group. The data is based on a married female driver, full physical damage coverage, $1,000 deductibles, and no additional discounts are factored in.
In the example above, the average cost of auto insurance per year with no accidents or violations is $751. Factor in two speeding tickets and the average cost jumps to $1,054, an increase of $303 each year. Then throw in one accident along with the two speeding tickets and the yearly cost of insurance for a Honda CR-V goes up to an average of $1,363. That’s an increase of $613, or $51 per month, just for not being more responsible behind the wheel!
The illustration below illustrates how your choice of deductibles can increase or decrease annual premium costs when quoting cheap insurance for a Honda CR-V. The data assumes a married male driver, full coverage, and no discounts are applied.
As shown above, a 30-year-old driver could pocket $184 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $282 by switching to a $1,000 deductible. Younger drivers, like the age 20 example, have the ability to save as much as $554 or more just by using higher deductibles.
When choosing a higher deductible, it will now be necessary to have emergency funds available to enable you to cover the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
Why are you paying too much for CR-V insurance?
Milwaukee insurance rates are calculated based on many things that will increase or decrease the cost of having a policy. Improving your credit score, buying a home instead of renting, or getting a few speeding tickets can produce rate changes that can now make some companies cheaper in comparison to the competition.
Not only may things change on your end, but insurers file new Wisconsin car insurance rates without warning to adjust for gains or losses. Higher than normal claims can cause additional premium costs, while lower claim levels can produce lower-priced CR-V insurance rates.
To illustrate this example, the graph below analyzes the cheapest car insurance in Milwaukee, WI for a 40-year-old male driver with no prior claims, no tickets, and a good credit history. When quoting prices based on his personal risk profile, USAA may offer the most affordable car insurance rates in Milwaukee at $883 a year. This is $278 less than the average policy premium paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Pekin Insurance also make the list of the top five cheapest Milwaukee, WI auto insurance companies.
Now let’s give the driver from above a claim or two, bad credit, and a few traffic violations. Since each insurance company has their own process to determine rates, analyzing rate quotes most likely will result in a significantly different list of the cheapest Milwaukee car insurance companies as shown below.
Integrity Mutual now has the cheapest insurance rate in Milwaukee with Rural Mutual Insurance, Western National, Travelers, and Partners Mutual now being in the top five. This shows why consumers need to take the time to spend some time comparing rates when trying to find the most economical auto insurance quotes for a Honda CR-V.
Prices can be determined by many factors and change substantially, so the cheapest option the last time you shopped around may now be one of the more expensive options.
How to find low-cost car insurance for a Honda CR-V
Lowering your rates is not difficult, and here are many thrifty suggestions that can help Wisconsin drivers buy cheaper auto insurance.
- Buying car and homeowners insurance together can save money
- Buy a safer vehicle
- Try paying for small claims out-of-pocket
- Remain accident-free and save
- On older vehicles, drop full coverage
- Do not get traffic violations
- Comparison shop frequently
That last piece of advice is remarkably crucial, as was stressed in the article above. Car insurance rates fluctuate constantly, so you should be ready to buy a policy from a new company if a more affordable price is available.
Being loyal to a particular company is commendable, but it’s not recommended if your bullheadedness ends up costing you potentially thousands of dollars a year. In just a few minutes you could compare rates to find cheaper auto insurance for a Honda CR-V in Milwaukee.