Full coverage for a new Honda Accord typically costs about $195 per month, or $2,342 per year. Whether it's worth it depends on your situation, not just the price tag.
When Full Coverage Makes Sense
You should strongly consider full coverage if any of these apply:
- Your vehicle has a loan or lease (your lender usually requires it)
- You live in areas with high theft rates, severe weather, or heavy traffic
- You can't afford to replace your car out of pocket
- You have limited savings for unexpected repairs
The Numbers
Full coverage includes collision and comprehensive protection. Here's the breakdown:
| Coverage Type | Typical Cost |
|---|---|
| State minimum coverage | $85/month ($1,023/year) |
| Full coverage | $195/month ($2,342/year) |
| Difference | $110/month ($1,319/year) |
The Honda Accord's strong safety features and moderate repair costs help keep premiums reasonable compared to other vehicles.
When You Might Skip It
If you own your Accord outright and have savings set aside for repairs, you could save money with just liability coverage. A new Accord's reliability means you're less likely to need major repairs early on.
Factors That Change Your Rate
Your actual cost depends on several things. Drivers in Texas pay around $280 per month for full coverage, while Virginia drivers average $146 per month. Your driving history, age, credit score, and annual mileage all affect your premium.
The Bottom Line
Full coverage costs extra, but it protects you from expensive surprises. For a new vehicle you're financing, it's usually the right choice. If you own it free and clear, calculate whether the annual savings ($1,300+) outweigh the risk of a major repair bill.