Honda Accord vs. Chevrolet Malibu Insurance Cost
When buying a car, it’s important to factor in the cost of insurance. While some models may have similar purchase prices, the cost of insurance can vary greatly depending on the make, model, and trim level of the vehicle. In this article, we will compare the insurance costs of two popular midsize sedans: the Honda Accord and the Chevrolet Malibu.
Honda Accord Insurance Costs
The Honda Accord from 2015 to 2023 is a reliable and popular choice for those in the market for a midsize sedan. However, the insurance costs for the Accord can vary greatly depending on the trim level.
Accord Hybrid
The Honda Accord Hybrid has an annual insurance cost of $1,640, or $137 per month. This is the lowest insurance cost for any trim level of the Accord.
Accord LX
The Accord LX has an annual insurance cost of $1,694, or $141 per month. This is slightly higher than the Accord Hybrid.
Accord Hybrid Sport
The Accord Hybrid Sport has an annual insurance cost of $1,718, or $143 per month. This is just slightly higher than the Accord LX.
Accord Sport
The Accord Sport has an annual insurance cost of $1,754, or $146 per month. This is slightly higher than the Accord Hybrid Sport.
Accord Hybrid EX-L
The Accord Hybrid EX-L has an annual insurance cost of $1,773, or $148 per month. This is slightly higher than the Accord Sport.
Accord Sport Special Edition
The Accord Sport Special Edition has an annual insurance cost of $1,789, or $149 per month. This is just slightly higher than the Accord Hybrid EX-L.
Accord Hybrid Touring
The Accord Hybrid Touring has an annual insurance cost of $1,825, or $152 per month. This is just slightly higher than the Accord Sport Special Edition.
Accord EX-L
The Accord EX-L has an annual insurance cost of $1,834, or $153 per month. This is slightly higher than the Accord Hybrid Touring.
Accord Touring
The Accord Touring has the highest insurance cost of any Accord trim level, with an annual cost of $1,924, or $160 per month.
Chevrolet Malibu Insurance Costs
The Chevrolet Malibu from 2015 to 2023 is another popular midsize sedan, but how does its insurance costs compare to the Honda Accord?
Malibu LS Sedan
The Malibu LS Sedan has an annual insurance cost of $1,649, or $137 per month. This is the lowest insurance cost for any Malibu trim level.
Malibu RS Sedan
The Malibu RS Sedan has an annual insurance cost of $1,671, or $139 per month. This is just slightly higher than the Malibu LS Sedan.
Malibu LT Sedan
The Malibu LT Sedan has an annual insurance cost of $1,721, or $143 per month. This is slightly higher than the Malibu RS Sedan.
Malibu 2LT Sedan
The Malibu 2LT Sedan has an annual insurance cost of $1,781, or $148 per month. This is slightly higher than the Malibu LT Sedan.
Malibu LT Sedan vs. Accord Sport
The Malibu LT Sedan and Accord Sport are both mid-level trims that offer a good balance between features and cost. However, when it comes to insurance, there is a slight difference between the two. The Malibu LT Sedan has an annual cost of $1,721, which translates to a monthly cost of $143, while the Accord Sport has an annual cost of $1,754, which is slightly higher, at $146 per month.
When comparing the two, the Malibu LT Sedan seems to be a slightly cheaper option, although the difference is not significant. It’s worth noting that insurance costs are affected by many factors, such as driving record, location, and age, among others. Therefore, it’s essential to get a personalized quote from an insurance provider before making a final decision.
Accord Hybrid Touring vs. Accord EX-L
The Accord Hybrid Touring and Accord EX-L are both high-end trims that offer top-of-the-line features and performance. However, when it comes to insurance costs, there is a significant difference between the two. The Accord Hybrid Touring has an annual cost of $1,825, which translates to a monthly cost of $152, while the Accord EX-L has an annual cost of $1,834, which is slightly higher, at $153 per month.
When comparing the two, the difference in insurance costs is not significant, which is expected, given that both trims are high-end models. However, it’s worth noting that the Accord Hybrid Touring is a hybrid model, which means it has a better fuel economy and is more eco-friendly than the Accord EX-L. Therefore, if you’re looking for a high-end model that’s also environmentally conscious, the Accord Hybrid Touring might be a better option for you.
Accord Touring vs. Malibu Premier
The Accord Touring and Malibu Premier are both top-of-the-line trims that offer the best features and performance in their respective models. When it comes to insurance costs, there is a significant difference between the two. The Accord Touring has an annual cost of $1,924, which translates to a monthly cost of $160, while the Malibu Premier has an annual cost of $2,016, which is higher, at $168 per month.
When comparing the two, the Accord Touring is the cheaper option in terms of insurance costs. However, it’s worth noting that the Malibu Premier offers more features and performance than the Accord Touring, which may justify the higher insurance cost. Ultimately, the decision between the two trims comes down to personal preference and budget.
In conclusion, the insurance costs of the Honda Accord and Chevrolet Malibu vary significantly depending on the trim level and model. As we’ve seen, some trims have lower insurance costs than others, while some are more expensive. However, it’s worth noting that insurance costs are affected by many factors, such as driving record, location, and age, among others.
Therefore, it’s essential to get a personalized insurance quote from an insurance provider before making a final decision. By doing so, you’ll be able to make an informed decision based on your personal circumstances and budget.
Top questions
- What is the average insurance cost of a Honda Accord and Chevrolet Malibu per year? The average annual insurance cost of a Honda Accord from 2015 to 2023 is $1,259, while the Chevrolet Malibu is $1,307.
- What factors affect insurance cost? Several factors affect insurance cost, including vehicle make and model, age and condition of the car, driver’s age and driving record, and location and driving habits.
- How can I reduce my insurance cost? Ways to reduce insurance cost include choosing a higher deductible, maintaining a good driving record, looking for discounts, and adjusting your coverage needs.
- Is it cheaper to insure an older car? Not necessarily. The age and condition of the car can affect insurance cost, but other factors such as the vehicle’s safety rating and likelihood of theft can also play a role.
- Should I choose a car based on insurance cost alone? No, it is essential to consider all the factors when choosing a car, including safety features, reliability, fuel efficiency, and overall cost of ownership. Insurance cost is just one of the variables to consider.
Factors That Affect Insurance Cost
Before we compare the insurance cost of the Honda Accord and Chevrolet Malibu, let us first discuss the factors that affect insurance premiums:
A. Vehicle Make and Model
Insurance companies use statistical data to assess the risk of insuring a particular vehicle. They consider the make and model of the car, as some models have a higher probability of accidents or theft than others.
B. Age and Condition of the Car
Older cars or those with a history of accidents or damages are more expensive to insure. This is because the repair costs and probability of future incidents are higher.
C. Driver’s Age and Driving Record
Younger drivers or those with a poor driving record are considered higher risk and therefore have higher insurance premiums.
D. Location and Driving Habits
The location of the driver and their driving habits can also affect insurance cost. For instance, living in a high-crime or high-traffic area can increase the probability of accidents or theft.
Honda Accord vs. Chevrolet Malibu Insurance Cost
The Honda Accord and the Chevrolet Malibu are two popular midsize sedans that offer excellent fuel economy, spacious interiors, and a host of features. While the two vehicles have a lot in common, they differ significantly in terms of their insurance costs.
The annual and monthly insurance costs of the Honda Accord and the Chevrolet Malibu, based on the different trim levels, are listed in the table below:
| Trim Level and Model | Annual Cost | Monthly Cost |
|---|---|---|
| Honda Accord Hybrid | $1,640 | $137 |
| Chevy Malibu LS Sedan | $1,649 | $137 |
| Chevy Malibu RS Sedan | $1,671 | $139 |
| Honda Accord LX | $1,694 | $141 |
| Honda Accord Hybrid Sport | $1,718 | $143 |
| Chevy Malibu LT Sedan | $1,721 | $143 |
| Honda Accord Sport | $1,754 | $146 |
| Honda Accord Hybrid EX-L | $1,773 | $148 |
| Chevy Malibu 2LT Sedan | $1,781 | $148 |
| Honda Accord Sport Special Edition | $1,789 | $149 |
| Honda Accord Hybrid Touring | $1,825 | $152 |
| Honda Accord EX-L | $1,834 | $153 |
| Honda Accord Touring | $1,924 | $160 |
From the table above, we can see that the Honda Accord is generally less expensive to insure than the Chevrolet Malibu. The annual cost of insuring the Accord ranges from $1,640 to $1,924, while that of the Malibu ranges from $1,649 to $1,781.
Honda Accord vs. Chevrolet Malibu Insurance Cost by Trim Level
When comparing the insurance cost of the Honda Accord and Chevrolet Malibu, it’s important to look at the specific trim levels of each model. The insurance cost can vary depending on the safety features, horsepower, and other factors of each trim level.
Here is a breakdown of the insurance cost by trim level for the Honda Accord and Chevrolet Malibu:
Honda Accord
Accord Hybrid
- Annual Cost: $1,640
- Monthly Cost: $137
Accord LX
- Annual Cost: $1,649
- Monthly Cost: $137
Accord Hybrid Sport
- Annual Cost: $1,718
- Monthly Cost: $143
Accord Sport
- Annual Cost: $1,754
- Monthly Cost: $146
Accord Hybrid EX-L
- Annual Cost: $1,773
- Monthly Cost: $148
Accord Sport Special Edition
- Annual Cost: $1,789
- Monthly Cost: $149
Accord Hybrid Touring
- Annual Cost: $1,825
- Monthly Cost: $152
Accord EX-L
- Annual Cost: $1,834
- Monthly Cost: $153
Accord Touring
- Annual Cost: $1,924
- Monthly Cost: $160
Chevrolet Malibu
Malibu LS Sedan
- Annual Cost: $1,649
- Monthly Cost: $137
Malibu RS Sedan
- Annual Cost: $1,671
- Monthly Cost: $139
Malibu LT Sedan
- Annual Cost: $1,721
- Monthly Cost: $143
Malibu 2LT Sedan
- Annual Cost: $1,781
- Monthly Cost: $148
From the above comparison of insurance costs, we can see that the Honda Accord Hybrid and the Chevrolet Malibu LS Sedan have similar annual insurance costs, but the Honda Accord Hybrid has a slightly lower monthly cost.
Overall, the insurance cost for both the Honda Accord and Chevrolet Malibu is relatively affordable when compared to other vehicles in their class. However, it’s still important to consider this cost when making a decision on which car to purchase.
In addition to the insurance cost, it’s also important to consider other factors like fuel economy, safety features, and reliability when deciding between the Honda Accord and Chevrolet Malibu.
Ways to Reduce Insurance Cost
If you are looking to reduce your insurance premiums, here are some tips:
Choose a Higher Deductible
A higher deductible means a lower insurance premium. However, make sure you can afford the deductible amount in case of an accident.
Maintain a Good Driving Record
Having a clean driving record with no accidents or traffic violations can help you qualify for lower insurance rates.
Look for Discounts
Many insurance companies offer discounts for things like good grades, safe driving, or multiple policies. Make sure to ask your insurance provider about any available discounts.
Consider Your Coverage Needs
Review your coverage needs periodically and adjust your policy accordingly. For example, if your car is older and has a low market value, you may want to consider reducing your coverage.
