Is it cheaper to insure a Honda Accord or Nissan Altima?

UPDATED: Nov 6, 2015

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UPDATED: Nov 6, 2015Fact Checked

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Asked November 6, 2015

1 Answer

The Honda Accord and Nissan Altima are often compared. Since both models make the list of the top midsize cars available on the market, it's only natural to wonder how the vehicles compare when you do a thorough head-to-head comparison. While comparing each car's specifications and features side-by-side is a must, it's also important that you compare auto insurance costs to buy full coverage on each car.

How Much Does it Cost to Insure a Nissan Altima?

Since auto insurance is one of the largest ongoing expenses that you'll have to pay when you own a car, getting quotes for insurance on each vehicle that you're considering is a must. Since you know that you're compared the Honda Accord and the Nissan Altima, you don't have to get a long list of quotes to make a definitive choice.

Edmund's has a very True Cost of Ownership tool that will detail how much you're projected to pay if you purchase specific vehicles when they are new. The tool takes into account how much you'll purchase the vehicle for, how much the car will cost to maintain, how much it will depreciate, and how much insurance will cost. According to proprietary data collected by Edmund's for the True Cost to Own tool, it will cost $7,197 to insure your vehicle over a 5-year span of ownership. Insurance costs tend to increase as the vehicle gets older.

How Much Does it Cost to Insure a Honda Accord?

A car's value doesn't necessarily dictate how much it will cost the owner to insure it. If you've already researched the market data, you know that the Honda Accord is typically the more expensive car. In fact, it costs about $3,200 more to purchase an Accord than it does to purchase an Altima new. The sales price of the Accord isn't what is going to affect insurance premiums.

If you were to review the same proprietary data compiled by Edmund's for the Honda Accord, you would discover that the car costs an average of $6,393 to insure for a 5-year period of time. Like the Altima, insurance premiums start low and begin to climb as the vehicle ages. Based on the data reported by Edmund's, you can expect to pay an average of $804 more to insure a Nissan Altima compared to the Accord.

Why Do Altima's Cost More to Insurance?

Nissan Altima's might not carry the higher price tag, but the cost to maintain them is often higher than the cost to maintain to Accord. If you're interested in learning why you'll have to set aside more money to insure your Altima, the answer may be in how the vehicle performs in crash tests conducted by the Insurance Institute for Highway Safety.

While both the Nissan Altima and the Honda Accord are Top Safety Picks through the IIHS, the Accord has the edge when it comes to front crash prevention. Each other area that's rated is the same for both models in the same model year. Since crash prevention is what saves insurers money, it can really improve a car's vehicle classification.

Another factor to consider is what demographic is driving each vehicle. Since the Nissan Altima tends to attract a younger and more budget-conscious crowd, it's no surprise that the rate of accidents reported in the Altima is higher than the rate reported in the Accord. Claims data compiled by Veririsk for the purpose of setting an ISO classification is very influential in setting rates for a specific vehicle.

Answered May 9, 2017 by AutoGuy

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