Insuring a Honda

When it comes to customer loyalty, Honda is near the top of the list these days. People love their Hondas, and they tend to return to the automaker's offerings again and again. Honda cars are prized for their affordability, safety, value, reliability and quality. Many Honda cars have high resale values as well. In addition to that, Honda cars are usually packed full of cutting-edge features while still boasting reasonable price tags. If you're thinking about buying a Honda, you're probably wondering how much you can expect to pay to insure it. The average annual cost to insure a Honda vehicle is $1,378.68, which ranks it fifth on a list of 36 vehicles. Therefore, these vehicles are affordable to buy and cheap to insure. Learn more about why Honda vehicles are so affordable to insure below.

Brief History

Honda was founded in Japan in 1948 by a man named Soichiro Honda. In the very beginning, however, the company was focused on manufacturing motorbikes. In fact, Honda primarily produced motorbikes for many years. They were affordable options for the Japanese, who were slowly but surely recovering from Word War II. The first Honda vehicles didn't appear in Japan until the early 1960s, and they didn't show up in the U.S. until 1970. The 1973 debut of the Civic finally brought fortune to Honda in the U.S. The Accord, which debuted in 1976, cemented the automaker's position in the U.S. marketplace.

Theft Rates Impact Insurance Costs

As affordable as Honda vehicles are to insure, it's interesting to note that they have remarkably high theft rates. In most situations, high theft rates would translate into high insurance costs. The make's exceptional safety ratings and low price tags help to mitigate the high rate of theft, though. The 1995 Honda Civic and the 1991 Honda Accord are ranked one and two respectively on the National Insurance Crime Bureau's list of the ten most-stolen vehicles in the United States. This is probably the one drawback to owning a Honda, and it is still a fairly minor one at that.

Top-Notch Safety Ratings Keep Insurance Rates Low

Honda vehicles are designed to be exceptionally safe. They are typically loaded with huge arrays of standard safety features. In government crash tests ad in tests by the Insurance Institute for Highway Safety, the Honda Accord fared very well. It earned "Good" ratings from the IIHS and five-star ratings from the government. The CR-V generally fared pretty well too. Similarly, the Honda Civic has earned great safety ratings from the IIHS and the government. These superior safety ratings help to keep insurance costs down because insurance companies are less likely to have to pay out on claims.

Low MSRPs Make Hondas Affordable in Many Ways

You can easily find a Honda that has a reasonable MSRP. The CR-V, for example, has a starting MSRP of $22,295. Even if you opt for a higher trim level, you will pay a pretty low price. The Honda Civic's starting MSRP of $15,805 makes it an especially affordable choice. Meanwhile, the Honda Accord has a starting MSRP of $21,380, which is quite low when you consider all of the standard features that are included on the popular vehicle.

The average cost to insure popular Honda cars is as follows:

• CR-V - $1,245.00
• Civic Sedan 4-Cylinder - $1,363.00
• Accord Sedan 4-Cylinder - $1,322.00