Is it cheaper to insure a Honda Accord or a Toyota Camry?
UPDATED: Jun 3, 2013
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Free Insurance Comparison
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Asked June 3, 2013
Over time, it is several thousand dollars cheaper to own a Toyota Camry than a Honda Accord. Part of the difference in cost to drive for the cars is that the Camry insures for around $70 less than the Accord, adding up to several hundred dollars over a 5 year period. Both cars have a variety of standard safety equipment and meet strict highway safety standards.
During the first 5 years, you could expect the Honda Accord to cost around $2,255 per year, while the Camry will be closer to $2,180 annually. That adds up to something like $11,289 for Accord insurance over 5 years, and $10,912 for the Camry. If the cost of insuring either one was an important factor, the cost is close enough to equal that you can ignore it for your comparisons. In the end, the Toyota will be about $5,000 cheaper to own over a 5 year period, which can be a big savings if your family is on a budget.
Where you live, work, and how far you drive are going to play a part in determining your actual premiums. In fact, a large percentage of your premium cost will be based on your personal data, and no two people can expect to get the exact same quote. The estimate used here is based on a safe driver, over the age of 25, with a good credit score. If your details do not match these, it will affect what your basic premiums are, after the car-specific savings have been factored in.
Learn about different ways to get cheap car insurance quotes.
Keeping your mileage down will help you save money on insurance. Since the risk of insuring a car increases with every mile driven, cars that only get used for a few thousand miles each year qualify for much lower rates based on a reduction in perceived risk to the insurer. As the insurance company sees a risk reduction, they lower the premiums, effectively passing the savings back to you.
Answered June 3, 2013 by Anonymous