Finding cheap insurance for a Honda CR-V doesn't take a ton of time, but it hinges on a complicated rating formula that uses factors such as your marital status, your credit history, and your choice of deductibles. South Carolina drivers will pay around $1,084 each year for CR-V insurance, but that cost is a projection calculated based on a 30-year-old single male driver with full comprehensive and collision coverage and $100 deductibles.
There is a good probability you may not be 30 years old (or even male), possibly married instead of single, or maybe you prefer to not insure for full coverage. This example demonstrates why the way we recommend to find affordable rates for your Honda is to compare as many rates as you can. Quotes are free and easy and you will be able to compare rates from some of the best companies that offer coverage in South Carolina.
The trim level of your Honda tends to have a direct effect on the cost of coverage, so the price you will pay to insure a CR-V LX 2WD will be $42 cheaper than the price to insure the higher-end CR-V EX-L 4WD trim level, as shown below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|CR-V LX 2WD||$292||$436||$380||$22||$114||$1,244||$104|
|CR-V EX 2WD||$292||$436||$380||$22||$114||$1,244||$104|
|CR-V LX 4WD||$292||$436||$380||$22||$114||$1,244||$104|
|CR-V EX 4WD||$334||$436||$380||$22||$114||$1,286||$107|
|CR-V EX-L 2WD||$334||$436||$380||$22||$114||$1,286||$107|
|CR-V EX-L 4WD||$334||$436||$380||$22||$114||$1,286||$107|
|Get Your Own Custom Quote Go|
Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and South Carolina minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Price estimates do not factor in specific South Carolina garaging location which can revise auto insurance rates considerably.
Deciding which insurers offer the cheapest insurance rates for a Honda CR-V in South Carolina requires a bit more work in order to find the best policy. Each insurer has a proprietary method to set their prices, so we need to take a look at the insurance companies with the overall best prices in South Carolina.
It's important to understand that South Carolina insurance rates are calculated based on many things that will increase or decrease the cost of your policy. Simply improving your credit, buying a home instead of renting, or getting a driving violation can trigger rate changes that may make certain companies more affordable than others.
Find the Best Cheap Insurance for Your Honda
|Rank||Company||Cost Per Year|
|5||SC Farm Bureau Mutual||$1,248|
|6||Southern Farm Bureau||$1,298|
|7||National Grange Mutual||$1,321|
|Get a Custom Quote Go|
The Hartford may offer some of the most affordable car insurance rates in South Carolina at around $768 per year. This is $841 less than the average premium paid by South Carolina drivers of $1,609. USAA, State Auto, Auto-Owners, and SC Farm Bureau Mutual would also make the list of some of the cheapest South Carolina insurance companies.
As the example above demonstrates, if you have coverage with State Auto and switched to The Hartford, you could earn yearly savings of in the neighborhood of $337. Insureds with Auto-Owners might save as much as $385 a year, and SC Farm Bureau Mutual insureds might cut rates by $480 a year.
To find the cheapest coverage for you, click here or click through to the companies below.
Remember that these premium estimates are averaged across all drivers and vehicles and do not factor in a specific rate factor for a Honda CR-V. So the insurer that has the cheapest rates for you may not even be in the top 18 companies shown above. That underscores the importance of why you need to get rate quotes from many companies using your own personalized driver profile and vehicle information.
Get discounts on South Carolina car insurance
Auto insurance companies that provide coverage for a Honda CR-V may additionally offer policy discounts that could potentially reduce rates by 40% or more if you are eligible to receive them. A few popular companies and a partial list of their discounts are shown below.
- GEICO discounts include five-year accident-free, seat belt use, air bags, emergency military deployment, multi-vehicle, defensive driver, and membership and employees.
- SAFECO has discounts for anti-theft, accident prevention training, bundle discounts, anti-lock brakes, and teen safety rewards.
- State Farm has savings for good student, good driver, safe vehicle, anti-theft, and Steer Clear safe driver discount.
- MetLife offers premium reductions for multi-policy, good student, claim-free, good driver, defensive driver, accident-free
- 21st Century may have discounts that include early bird, anti-lock brakes, defensive driver, homeowners, air bags, and 55 and older.
- Progressive offers discounts including homeowner, multi-policy, continuous coverage, online signing, good student, and multi-vehicle.
The information below visualizes the comparison of auto insurance rates with and without discounts being applied to the rates. Data assumes a male driver, no claims, a clean driving record, South Carolina state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with homeowner, accident-free, marriage, multiple policy, safe-driver, and claim-free discounts applied. When taking advantage of discounts, the average savings per year on insurance for a Honda CR-V is 28% or $454.
The example below demonstrates how deductibles can change insurance costs when researching cheap insurance for a Honda CR-V in South Carolina. The premium estimates are based on a single male driver, full coverage, and no additional discounts are factored in.
The chart above illustrates that a 40-year-old driver could lower rates by $290 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $442 by choosing a $1,000 deductible. Even younger drivers, like the Age 20 chart data, can save as much as $948 or even more just by choosing higher deductibles.
When using a larger deductible, it will be important to have enough savings set aside to pay the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
Difference between liability only and full coverage rates
Saving money on insurance is important to most vehicle owners, and one good way to reduce the cost of insurance for a Honda CR-V in South Carolina is to not insure for full coverage. The chart below shows the difference between auto insurance costs with and without physical damage coverage. The premiums assume no violations or claims, $250 deductibles, single marital status, and no other discounts are factored in.
If the expense is averaged for all age categories, physical damage insurance costs an extra $1,836 per year more than just buying liability insurance. That is a large expense and it proposes the question if buying full coverage is a waste of money. There is no specific rule for eliminating comp and collision coverage, but there is a guideline you can use. If the annual cost of having full coverage is more than 10% of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.