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It’s a surprise when you purchase insurance for your new car, and not a particularly good one. You may not have thought to get a quote ahead of time; to check how much it will cost to insure your new Honda. When you do, you realize it’s more than you expected it to be.

It feels like it’s more than your Toyota was, or the Hyundai you had before that. And you might conclude that Honda vehicles are more expensive to insure…but are you wrong?

It’s a Myth

Let’s take a look at a direct comparison: a 2017 Honda Civic LX 4-door and a 2017 Toyota Corolla LE. Both cars are respectably equipped with convenience features, and are within a few hundred dollars in initial purchase price. How do the insurance quotes stack up?

A common car insurance comparison website, Kinetix.ca, is the basis for busting the myth. The quote uses the same background information for both cars – the driver information is the same, no discounts applied, same vehicle usage as commuter, and the same deductible and liability insurances.

What you see above are actual quote results. Your results will vary depending on your circumstances, and almost assuredly lower based on available discounts. The top four quotes all favour the Honda Civic with lower insurance costs. In fact, seven of eight quotes returned by Kinetix were lower for the Honda than the comparable Toyota!

It Isn’t Just the Civic Either…

The same insurance comparison is repeated for a comparable 2017 Honda CR-V 4WD and Toyota RAV4 AWD. The results come in the same. To be totally honest, the disparity is a little more also.

A 2017 Honda Accord EX 4-door rings in just slightly higher than the 2017 Toyota Camry EX-L but the difference is marginal. A 2015 Honda Odyssey LX is about 5 percent less than the 2015 Toyota Sienna LE.

Honda insurance prices aren’t just comparable – they are better than the direct competition in most cases!

Why Does My Insurance Seem Too High?

The question to ask is: what vehicle did you drive before? If you’re like most car buyers, you are relinquishing a vehicle that is four to six years old. As you might expect, insurance prices decrease as a vehicle gets older. You’ve simply become accustomed to paying for insurance on a car that’s not worth as much as it did when it was new.

Paying more for insurance on a new vehicle makes sense. In the event your vehicle is written off or damaged, an insurance company will need to pay more for repairs or compensation on a newer car. And in a few years, as your new Honda gets some ‘experience’ under its belts, the cost of insurance will begin to decrease.