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- Insuring your Honda Accord in Canada
- How much is it to insure a Honda Accord for a young driver?
- How much is it to insure a Honda Accord for an experienced driver?
- How much can a traffic ticket or an accident raise your insurance?
- How to get cheaper car insurance for your Honda Accord
- Should you buy or lease your Honda Accord?
- Protecting your Accord with Honda Plus
Insuring your Honda Accord in Canada
The Honda Accord has long been celebrated for its reliability and affordability, making it a popular choice for drivers across Canada. According to 2025 Car and Driver Best10 list, this reputation still holds strong. But does that mean insuring your Honda Accord will always be budget-friendly?
While the Accord is dependable, several factors can influence your insurance costs. These include the driver’s age, the car’s model year and trim and even how attractive it is to car thieves. Although the Accord isn’t as frequently targeted by thieves as models like the CR-V or Civic, theft rates and repair costs can still play a role in determining your premiums.
Keep reading to learn how different factors can affect the cost of insuring your Honda Accord.
How much is it to insure a Honda Accord for a young driver
If you’re a young driver getting behind the wheel of a Honda Accord, you might find that your insurance premiums are higher than expected. This is because insurance companies consider a variety of factors when calculating rates, and it’s not just about the car you drive.
In addition to a driver’s age, here are some key factors that influence your premium:
Driver's risk level: Insurance providers assess risk when setting premiums, and younger drivers are statistically more likely to be involved in accidents. While this doesn’t mean every young driver is unsafe, less experience behind the wheel can affect reaction times and decision-making in challenging situations. This applies whether you’re driving a Honda Accord or any other vehicle.
Technology and repair expenses: The Honda Accord is equipped with advanced safety features like collision mitigation braking and adaptive cruise control. While these systems enhance safety, they can also increase repair costs if they need to be replaced after an accident.
Model-specific impacts: The Honda Accord is known for its balance of performance and practicality, but its specific trim and year can influence insurance costs. For example, a higher-end Accord with premium features may cost more to insure than a base model due to higher repair or replacement expenses.
Theft rates: While the Honda Accord isn’t as frequently stolen as models like the CR-V or Civic, theft rates still play a role in determining premiums. If theft of the Accord is common in your area, or if your community has a higher overall theft rate, this could lead to increased insurance costs.
While some factors, like your age or the Accord’s specific risks, are beyond your control, there are ways to lower your premiums.
Age | Insurance cost range |
|---|---|
18 | $10,860 - $14,885 |
19 | $8,978 - $11,988 |
20 | $8,426 - $10,272 |
21 | $7,415 - $8,090 |
22 | $6,346 - $7,212 |
23 | $5,883 - $6,684 |
24 | $5,503 - $6,480 |
25 | $4,790 - $5,472 |
How much does it cost to insure a Honda Accord for an experienced driver
Even if you’re a seasoned Honda Accord driver, your insurance rate isn’t set in stone. Various factors influence your premiums, and while experience can work in your favor, other elements also come into play. Here’s a breakdown to help you understand what impacts the cost of insuring a Honda Accord.
Experience and age: The more years you’ve spent driving, the better your odds are of securing a lower insurance rate. That being said, age can factor in too. Insurance costs may gradually increase for senior drivers due to concerns around slower reaction times and increased accident risks.
Honda Accord's characteristics: The Honda Accord is known for its impressive safety ratings and affordable repair costs, making it a budget-friendly option when it comes to insurance. Insurers value vehicles like the Accord, which combine reliability with advanced safety features, helping to keep premiums within a reasonable range compared to larger, more expensive models.
Driving record: Your driving history plays a significant role. If you’ve maintained a clean record with no violations or recent at-fault accidents, you’ll likely enjoy lower insurance rates. However, even the best drivers face potential rate hikes if they’ve been involved in an incident or received a ticket lately.
Driving habits: Your time behind the wheel can also affect your rates. If you use your Accord for daily commutes or long-distance travel, your overall risk of an accident increases, which may result in higher premiums. On the other hand, drivers who only use their Accord occasionally could see some savings.
Location: Where you live can make a difference. Densely populated areas often come with higher insurance costs due to greater traffic, accident rates, or instances of car theft. While the Honda Accord isn’t as frequently targeted for theft as the Honda Civic, your geographic location still matters, and local risks can affect your premium.
Safety and security features: One of the Accord’s standout qualities is its advanced safety technology. Many newer models come equipped with features like collision mitigation braking, adaptive cruise control, and lane-keeping assist, all of which help reduce the chance of accidents. Insurance companies often reward vehicles with these systems with lower premiums, as they’re seen as safer to drive.
While certain factors like age or location may be out of your control, there are still ways to cut costs.
Age | Insurance cost range |
|---|---|
30 | $3,591 - $4,441 |
35 | $3,338 - $3,926 |
40 | $3,020 - $3,598 |
45 | $2,685 - $3,449 |
50 | $2,536 - $3,285 |
55 | $2,457 - $3,159 |
60 | $2,424 - $3,069 |
65 | $2,411 - $2,939 |
Methodology
The table above outlines the average cost of car insurance in Toronto for a female G-licensed policyholder driving a 2023 HONDA ACCORD EX 4DR. Using our rate calculator, we calculated average auto insurance premiums by age, assuming the driver has a clean driving record. All ranges and averages presented represent the three lowest quotes offered. The insurance policies used for comparison include $1,000,000 in coverage, along with a $1,000 deductible for both collision insurance and comprehensive insurance.
It’s important to note that these quoted rates are specific to this driver profile. You are more likely to find rates at the lower end of the provided range by comparing quotes from different providers and selecting the one that offers the best value for your needs.
Disclaimer
Auto insurance rates are influenced by a variety of factors, including (but not limited to) your postal code, driving history, the specific make and model of the vehicle, additional safety features, whether you attended driving school, and more. This means the premiums for individuals with different circumstances may vary significantly from the rates shown here. Always compare personalized quotes to ensure you're getting the best coverage at the best price.
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How much can a traffic ticket or accident raise your insurance?
Driving a Honda Accord can often mean affordable insurance rates, but traffic infractions or accidents might change that. For example, a speeding ticket could lead your insurer to view you as a higher risk, causing your rates to increase. Similarly, if you’re at fault in an accident, you can expect your premiums to rise further since damages and repairs can be costly, even for a reliable and economical vehicle like the Honda Accord.
Here are some of the possible changes you might see in insurance, based on a 35-year-old female driving a Honda Accord in Toronto:
Age | Major convictions | At-fault accidents | Insurance cost range |
|---|---|---|---|
30 | None | None | $3,591 - $4,441 |
None | 1 | $6,943 - $7,776 | |
1 | None | $7,576 - $8,578 | |
1 | 1 | $15,945 - $22,368 | |
35 | None | None | $3,338 - $3,926 |
None | 1 | $6,695 - $7,392 | |
1 | None | $7,297 - $8,076 | |
1 | 1 | $15,337 - $20,148 | |
40 | None | None | $3,020 - $3,598 |
None | 1 | $6,495 - $7,140 | |
1 | None | $5,328 - $7,776 | |
1 | 1 | $15,043 - $20,148 | |
45 | None | None | $2,685 - $3,449 |
None | 1 | $6,477 - $7,116 | |
1 | None | $4,671 - $7,740 | |
1 | 1 | $14,946 - $19,951 | |
50 | None | None | $2,536 - $3,285 |
None | 1 | $6,324 - $6,827 | |
1 | None | $9,239 - $14,706 | |
1 | 1 | $14,967 - $18,571 | |
55 | None | None | $2,457 - $3,159 |
None | 1 | $5,489 - $6,395 | |
1 | None | $4,226 - $6,576 | |
1 | 1 | $15,309 - $17,829 | |
60 | None | None | $2,424 - $3,069 |
None | 1 | $5,365 - $6,114 | |
1 | None | $4,156 - $6,468 | |
1 | 1 | $15,230 - $17,482 | |
65 | None | None | $2,411 - $2,939 |
None | 1 | $5,087 - $6,004 | |
1 | None | $4,129 - $6,132 | |
1 | 1 | $14,888 - $17,377 |
Methodology
The table provides a comparison of average car insurance premiums in Toronto for a female G-licensed driver operating a 2023 HONDA ACCORD EX 4DR. The analysis includes two driving profiles: one for drivers with clean records, meaning no major convictions or at-fault accidents, and another for drivers with one at-fault accident, one major conviction, or both. Using a rate calculator, we determined the average premiums across different age groups by selecting the three lowest quotes from leading insurance providers. The insurance coverage considered includes $1,000,000 in liability coverage and a $1,000 deductible for both collision and comprehensive insurance. For drivers with at-fault accidents or convictions, premiums were adjusted based on the additional risk weighted by insurers, leading to higher quotes for that group.
Disclaimer
It is important to note that the rates listed are specific to this driver and vehicle profile and may vary significantly based on individual circumstances. Factors such as postal code, claims history, specific vehicle features, and even completion of a recognized driving school course can influence premiums. To ensure the best value, it is essential to obtain personalized quotes from multiple providers, as rates and coverage offerings can differ substantially depending on how each insurer evaluates risk. Comparing quotes allows drivers to find the most suitable and cost-effective insurance for their unique needs.
How to get cheaper car insurance for your Honda Accord
For Honda Accord drivers, saving on insurance involves using a combination of smart strategies. For instance, bundling your policies, such as home and car insurance, is a simple way to secure discounts. You could also save by enrolling in a telematics program that monitors safe driving habits like smooth braking and maintaining safe speeds. Additionally, equipping your Honda Accord with features like blind-spot monitoring can be an excellent way to lower your insurance rates.
Here are some insurance discounts that could apply to you:
Bundling policies
Bundling your auto and home insurance—or combining other policies like tenant or condo insurance—can significantly reduce your premiums. Insurance companies appreciate customer loyalty and often reward it with discounts. Savings can reach up to 20% or more. By taking advantage of this, you not only simplify your insurance management but also save a chunk of change.
Multi-vehicle discount
If your household has more than one car, insuring them under the same policy can lead to big savings. This is because insurers offer discounts (up to 15%) for placing multiple vehicles together under one account. It’s an easy win for families or households with multiple drivers, as it combines coverage while cutting costs.
Loyalty discounts
Insurance companies love loyal customers, and they often show it by reducing premiums for those who stick with them year after year. The longer you stay, the more you save—it can range from 5% after one year to as much as 10% for a decade of loyalty. If you’re happy with your insurer and their service, this discount is an excellent perk.
Higher deductibles
Choosing a higher deductible (the amount you pay out of pocket in a claim) can reduce your annual premiums by 5-10%. While the trade-off means you’d pay more in case of an accident, it’s a smart option for drivers who are confident in their safe-driving habits and want lower upfront costs.
Paying annually
Paying your entire premium in one annual payment instead of monthly installments can save you money by avoiding administrative or installment fees. While it requires a larger payment upfront, it’s a simple way to cut down on overall costs.
Telematics programs
Telematics are devices which can be added to you car or through a mobile app, which monitor your driving habits, such as speed, braking and mileage, rewarding safe drivers with lower premiums. They offer benefits like fairer rates for low-mileage drivers, personalized discounts and improved driving awareness. To maximize savings, you should focus on consistent safe driving, reduce high-risk night trips and choose a telematics program that best fits your needs.
Winter tires
Installing winter tires is not only smart for safely navigating Canada’s icy roads, but it can also reduce your premiums by 2%-5%. Some provinces, like Ontario, even require insurers to offer this discount. If you regularly switch to winter tires, make sure your insurer knows about it.
Anti-theft devices
Vehicles with anti-theft systems, like alarms or tracking devices, are less likely to be stolen, and insurers recognize this by offering discounts up to 15%. If your car doesn’t come with built-in anti-theft features, consider installing an aftermarket system to take advantage of this savings opportunity.
Should you buy or lease your Honda Accord?
When deciding whether to buy or lease a Honda Accord, it’s important to consider your driving habits, lifestyle, and financial goals. The Honda Accord offers a blend of reliability, comfort, and advanced features, making it a popular choice. Leasing might be ideal for drivers who want access to the latest technology and safety features with lower monthly payments. On the other hand, if you’re looking for long-term value or plan to drive extensively, buying a Honda Accord could be the better option.
Here's a list of advantages and disadvantages to help you make the right decision:
Leasing
Advantages:
- Access to the latest technology: Leasing allows you to drive a newer Honda Accord model every few years. If new features or updates are introduced, you can switch to a newer car at the end of your lease without the hassle of selling or trading in.
- Lower monthly costs: Leasing typically comes with lower monthly payments compared to buying, as you’re only paying for the car’s depreciation during the lease term.
- Honda Lease Guard: Honda offers a plan to cover extra costs when returning a leased Honda Accord. It can waive up to $7,500 in fees for issues like dents, paint chips, or worn tires, and even covers missing parts up to $150 per item.
- Less commitment: Leasing provides flexibility to change cars more often. At the end of your lease, you can lease a different Honda, buy a vehicle, or explore other options.
Disadvantages:
- Mileage limits: Leasing agreements often include mileage restrictions. Exceeding these limits can result in additional charges at the end of your lease.
- No ownership: At the end of the lease term, the vehicle must be returned, meaning you won’t own the car or build equity.
- Limited customization: Leasing restricts modifications to the vehicle, requiring it to remain in its original factory condition.
- Termination fees: Ending a lease early can result in significant penalties, so you’ll need to commit to the full lease term to avoid extra costs.
Buying
Advantages:
- Full ownership: When you buy a Honda Accord, the car is yours. Once the loan is paid off, you no longer have monthly payments, providing long-term financial benefits.
- No mileage restrictions: You can drive as much as you like without worrying about mileage limits, making it ideal for long trips or daily commutes.
- Customization opportunities: You can personalize your Honda Accord by adding features or making modifications, such as upgrading the sound system or changing its appearance.
- Long-term savings: While buying may cost more upfront, it’s usually cheaper over time. After paying off the loan, you can keep the car without monthly payments.
Disadvantages:
- Higher initial costs: Buying a car often requires a larger down payment and higher monthly payments, which can be challenging for tight budgets.
- Repair expenses: After the warranty expires, you’ll be responsible for maintenance and repairs, such as brake replacements or battery changes for hybrids.
- Depreciation: Cars lose value over time, and as the owner, you’ll bear the full impact of depreciation, especially for a brand-new car.
Protecting your Accord with Honda Plus
In addition to standard car insurance, you can also protect your Honda Accord via Honda's several proprietary programs, such as:
Honda Plus Payment Protection
For extra protection (in addition to your regular insurance), you can purchase something called Honda Plus Payment Protection, which includes:
- GAP (Guaranteed Asset Protection). Should you lose your vehicle entirely – due to a car crash or theft – GAP insurance will cover the difference between what your regular insurance pays and what you end up owing on your lease or loan. The coverage amount is up $50,000, including 'negative equity.' That way, you don’t have to pay for anything out of pocket.
- Replacement Warranty. This guarantees that your new car will be replaced with your current model in the event of a total loss due to fire, theft or accidental damage. If you have a pre-owned Honda, you'll get a replacement credit, adjusted annually for inflation, which would be applied to its replacement in the event of a total loss.
Honda Plus Lease Guard
If you’re planning to lease your Honda Accord instead of buying it, you can protect it against regular wear and tear, including dents and dings, stains, rips, worn tires and scratched rims, via the Honda Plus Lease-Guard program. If you upgrade to Lease-Guard Pro, you can also receive windshield and touch-up paint repairs as they happen.
Honda Plus Locate
With the Honda Plus Locate Theft Recovery System, you can install a KYCS device on your vehicle, which in combination with the help of Honda's staff and local authorities, can allow you locate your vehicle in the event of theft. You can also upgrade to Locate Pro, which offers even more perks.
