Debuting in 1976, the Honda Accord has long been known as not only affordable but reliable as well. In fact, the model has ranked in the top five on the lists of dependable cars practically since its introduction. While not all of the original cars have made it, there are quite a few of the first generation of Accords on the road today. Moderately priced even when new, the Honda Accord is available in a number of different body types and styles and even has a hybrid version for those who are looking to reduce their carbon foot print.

One of the most serious considerations that people have to keep in mind when choosing a new car is the cost of upkeep and associated expenses that continue after purchase. Not only do you have to consider the monthly payment if you are planning on financing the car, but the cost of fuel, repairs, and of course, insurance. The cost of insurance varies wildly from driver to driver, but there are many features that are standard to the Honda Accord that may lower the cost of insuring it dramatically. Safety and security features are often used to give drivers discounts for their car.

The Standard Safety and Security Features of the Honda Accord

The Honda Accord has a number of regular safety features that are included in the basic package. These include:

• The anti-lock braking system
• Front air bags (driver and passenger)
• Front side air bags
• Side air bags (curtain)
• Front driver and passenger active head restraints
• Side impact door beams

In addition, there is a regular security system plus a tire pressure monitoring system. Overall, it is estimated that the cost of owning and operating this vehicle is nearly ten percent lower than a comparable car of another brand.

How the Cost of Insurance Is Determined

The cost of your insurance will be determined by a wide range of factors that will include the type of car you are driving, your driving record and things such as the members of your family. Everyone who lives in your house who is over a certain age will have to be included on your insurance policy or excluded. To exclude a legal family member from insurance coverage on your policy, you will have to fill out a paper stating that that is exactly what you intend to do. If that family member borrows your car, with or without your knowledge or permission and then has an accident, your insurance will not cover the damages. That can quickly lead to a very expensive situation.

The age of exclusion is different for every insurance company with some using ages as low as 14 or 15 and others using the term “licensed drivers” instead of referring to names.

In addition to the number of people who are insured, the insurance company will use information about your credit history, the way that you use your car and your location to determine the cost of coverage. How much insurance you need or want will also influence the final cost of coverage. For instance, if you need the most comprehensive coverage available, that will cost more than the cost of state minimum liability insurance.

Your driving record is also a factor. The better your driving record is, the lower the cost of your insurance premiums. Simple things such as parking tickets should not raise your insurance cost, but speeding tickets, driving violations and accidents will negatively impact it. For some types of insurance, too many tickets or accidents may prevent you from being accepted. Every company has their own standards for the insurance coverage that they will and will not write. Keeping a good driving record will not only save you money on your insurance but for some companies may also earn you a rebate check.

In addition to your driving record, your credit history might also be reviewed and used to determine the insurance rate that you will have to pay.

State and Other Requirements

All states require financial responsibility for their drivers. Most use insurance to satisfy that requirement. State minimum insurance is much lower than more comprehensive insurance and is often not enough in the eyes of banks or financing companies. If you lease or finance your car, you will likely be required to carry more insurance than is required by your state. If you live in a state that offers other options, you can also choose to protect yourself with a financial bond or a security deposit, but the amounts that are required are usually quite substantial and must be paid at one time. In some cases that amount can be $50,000 or higher and may still not be enough to cover the cost of an accident.