Acura Insurance: Cost, Companies, and What to Know
In addition to finding a low Acura insurance rate, it’s important to look for an insurance provider that can offer the coverage that matches your lifestyle and driving habits and can pay out claims reliably and on time.
The best insurance companies go beyond offering reasonable rates to their policyholders and provide good customer service, a speedy claims process, and a variety of discounts.
Insurance providers consider several elements when calculating the price of auto insurance.
Age, gender, driving record, and geographic location have plenty to do with your rate, yet the make and model of your vehicle also play a major role in determining the cost of your insurance policy.
When comparing quotes, it’s important to understand how insurance companies consider risk as it pertains to your specific vehicle.
Safety ratings, damage thresholds, the likelihood of theft, and the cost of repairs all affect the price you pay for insurance.
How Much Does Acura Insurance Cost?
While shopping for Acura insurance, you may notice a considerable variation in rates from company to company.
While some quotes are downright cheap, some are expensive, and others are mid-range.
Although opting for the cheapest rate may seem like a good idea, it’s critical that you compare several quotes and make sure to understand what each company is offering for the quoted price.
Researching each company’s ratings and reviews, financial strength, and policy and discount offerings are equally important.
There are a number of factors that relate to your specific vehicle that affect your insurance premium.
Below is a breakdown of these factors, as well as other important considerations that come into play for owners of Acura vehicles.
Safety Ratings and Damage Threshold
The Insurance Institute for Highway Safety (IIHS) conducts safety tests and publishes safety ratings for hundreds of passenger vehicles each year.
The IIHS rates vehicles in several safety categories and provides one of four overall ratings: “G” (Good), “A” (Acceptable), “M” (Marginal), or “P” (Poor). Here are some examples of recent Acura safety ratings.
2018 Acura ILX
The 2018 Acura ILX received almost exclusively G ratings, with the exception of headlights, which were rated M, and child seat anchors, which were rated A.
These ratings are likely to result in a lower insurance rate.
Additional testing was performed on the vehicle’s front crash prevention, which was rated Superior, provided drivers had purchased the optional safety features with the vehicle.
2014 Acura TSX Sport Wagon
The 2018 Acura TSX Sport Wagon also performed reasonably well in IIHS safety tests, receiving mostly G ratings except for the driver-side small overlap front, which was rated M.
Again, these results are likely to help consumers get a lower rate on Acura insurance.
Comprehensive and Collision Coverage
Comprehensive and collision coverage rates are primarily determined by the overall value of your vehicle.
This value is based on a number of factors including the make and model, year, and condition of your vehicle, as well as your geographic location.
Specific vehicle values can be found using Kelley Blue Book (KBB). For these examples, the values are based on vehicles in good condition and located in the Los Angeles area, 90005 zip code.
According to KBB, the value of a 2018 Acura ILX Special Edition Sedan 4D with standard features is between $21,760 and $25,767.
The 2014 Acura TSX Sport Wagon is valued slightly lower with a fair market range between $17,789 and $20,144.
Claims Frequency and Potential to Cause Damage
The IIHS compiles claims data and reports on insurance loss as it pertains to specific vehicles.
This includes frequency of claims and the number of dollars lost per claim.
Vehicles in the study are rated on in the following categories: collision, property damage, comprehensive, personal injury, medical payments, and bodily injury.
In the IIHS’s most recent Insurance Loss Report, the Acura TLX (midsized luxury category) received an “Average” rating in all categories.
Depending on the insurance provider, this may or may not affect the price of your insurance policy.
Plenty of insurance providers reward policyholders with discounted insurance rates if their vehicle is equipped with the latest safety features.
Those who drive newer Acura models are most likely to benefit from these discounts.
Many of these newer models come equipped with a Blind Spot Information System, Surround-View Camera, Vehicle Stability Assist, and AcuraLink®, a built-in system that allows drivers to send and retrieve location and diagnostic information in the event of an emergency.
Getting a Quote: What Are the Best Companies for Acura Insurance?
While shopping for car insurance for your Acura—or any other vehicle make—it’s best to obtain quotes from at least three companies.
Once you’ve done so, check ratings and reviews for the companies you’re considering to ensure the company you settle for meets your standards. Some other important factors you should consider when include:
- Financial strength
- Company/agent licensing
- Customer service
- Comfort level with the representative
Once you’ve narrowed down your options and are prepared to meet with a representative from your insurance company of choice, make sure to ask some of the following questions to obtain the best rate for your insurance:
- Do you offer discounts to better drivers?
- If my mileage is low, do I qualify for a discount?
- Do you offer discounts for multiple vehicles or bundled policies?
- Does setting up full or automatic payments get me a lower rate?
What to Know About Acura
Acura is a luxury line of high-performance vehicles owned by Honda.
The company is headquartered in Japan, but Acura vehicles are available in North America and other select countries.
Parts for Acuras are generally easy to obtain in the event repairs are needed.
However, Acura is well-known for manufacturing cars that are built to last and require little maintenance aside from standard upkeep.
The above information should give you a good understanding of how different factors can affect your Acura insurance rates.
Armed with these details, you should feel confident in negotiating an affordable price range that works well with your budget.