A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products, including home, life, auto, and commercial, and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, mainly in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers Insurance CSR 4 Years

UPDATED: Oct 27, 2021

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The expected price of car insurance for a Honda Pilot is quite low when compared to similar SUVs in the same category. However, while this manufacturer has a solid reputation for building dependable vehicles, you still need to prepare for the annual rate, which might be more than you anticipate.

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There are three other SUVs that measure up to the Honda Pilot. They include the Jeep Liberty, Ford Explorer, and Toyota Venza LE. They are close in retail price, but their car insurance rates vary tremendously.

The cost for the Venza LE is $1,348 per year. The Liberty is $1,379 and $1,514 for the Explorer. On the plus side, the Honda Pilot only averages about $1,214 annually. Still, some may not be ready for this price.

The Honda Pilot Sticker Price

The 2012 Honda Pilot is available in four different sub-models beginning with the least expensive LX. This vehicle has a base sticker price of $29,420. If you select the four-wheel drive over the two-wheel drive, the price increases to $31,020.

Next is the EX model, with an average price of $31,670, which also has two types of transmission options. The standard two-wheel drive is less costly, as the four-wheel drive is about $33,270.

There is also the EX-L model that comes with a standard price of $34,920 and two other packaged features, which increases the price from $34,920 to as much as $38,520 depending on the one you select. For example, the EX-L with the DVD entertainment system begins at $36,520, but the EX-L with a navigation system costs the most, at approximately $38,520.

Finally, the most expensive of the Pilot sub-models is the Touring SUV, at $39,570. However, this price is only for the two-wheel drive selection. The four-wheel drive vehicle is much higher, at $41,170.

As you can see, there are many ways to go from less than $30,000 to well over $41,000 for the Honda Pilot and this is something that can translate into higher car insurance rates. You will be better off when negotiating your premium when you have the facts about your choices.

If you go to a dealership and they only have a limited supply, it is to your best interest to know which one you really want, as opposed to what they offer you. Your budget may not allow for extravagant extras, like the DVD entertainment package.

You might simply want a safe and reliable SUV with standard features. The only way to be sure that you do not make an unwise purchase is to research each sub-model carefully and pick the one that appeals to your needs and financial expectations.

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Annual Average Ownership Costs

In addition to the purchase cost and annual car insurance rates, you must also calculate the other expenditures involved. A great way to start is to determine the overall value of the Honda Pilot. This is simple to accomplish when you review the depreciation ratings by visiting ALG.

Overall cost of ownership is an important factor to consider.

This leading consulting firm analyzes products and supplies consultations to everyone within the automobile industry. They design software to provide to car manufacturers that help them compile certain statistics of how their products perform over time. This helps them determine the average wear and tear of a vehicle within a 12 to 60-month period and thus, assess their decrease in value.

Using a five-star method, their 2011 report shows the Honda Pilot measures between five and one stars, receiving three in the area of depreciation. This means the Pilot may not retain as much value as the four-star Civic or five-star Fit, but it still rates above average in this category. The truth is there are zero Honda models with less than three stars.

This helps with keeping maintenance fees low. In fact, over the first five years of ownership, you may only spend around $2,200. The majority of the expenses occur during the fourth and fifth year, when extra miles tend to require more attention to parts like brakes and other components.

Repairs are also practically non-existent for the first two years. Only after the second year, can you expect minor costs of $86 to $378 on average for engine-related inspections and repairs. These are often minor adjustments. If you have the extended protection package, none of these small repairs cost you anything out-of-pocket.

Advantages of Owning the Honda Pilot

There are  a great deal of advantages of becoming a Honda Pilot owner, for starters the way to purchase this vehicle vary from financing to leasing with easy applications and pre-approval methods. You can even take advantage of their program for college graduates if you qualify.

All you need to do to get started is to verify participation by going to Collegestats.org to make sure you have the correct information regarding your college or university. Honda will need the course numbers and a copy of your graduation eligibility as well. Any graduating senior can retrieve these documents from their administrator’s office.

Once you gather all of the paperwork, simply contact your nearest Honda dealer to begin the process of purchasing your new Pilot. Within a few moments, you should have your approval. It is that fast and easy.

Another advantage to owning a Honda Pilot is you can lease one under their leadership purchase plan, which allows you to make payments without a down payment. Unlike other companies, which require large down payments, those who qualify for their lease program can exercise this option for immediate ownership. Your name goes onto the title, instead of a lienholder.

In addition, every payment goes directly towards the depreciation and finance charges at the same time. This helps to lower the cost of the car after the lease term ends. You can then have a guaranteed retail price for the vehicle and continue your low monthly car payment.

The Downside of a Honda Pilot Purchase

There are not many disadvantages to owning a Honda Pilot, but there are some worth considering. For example, not every state participates in all programs. If they do, they create their own stipulations, so you need to make sure you read your contract in full. This is especially the case with some of the fees that Honda charges.

It’s best to always check your credit score before making a large purchase such as a car.

You also need to have decent credit. Honda is particularly interested in customers with credit scores over the national average of 600. If you do not know what your credit score looks like, go to AnnualCreditReport.com for your free copy immediately.

You will need to complete a quick form with basic information and wait patiently for your results. If you do not have access to the Internet, you can also call or write to them, but writing takes much longer. If your credit score is not at least 600, you might want work towards increasing your points before you submit an application for the Honda Pilot.

Even if they accept your application and find a financial institution willing to provide you with a loan, your APR might be very high causing an increase in your monthly responsibilities.

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Standard Applicable Discounts with the Honda Pilot

With the Honda Pilot, you could receive multiple discounts because of their safety features. The electronic seat belts and various airbags might allow you to claim at least 30% off your annual car insurance rates.

The anti-lock braking system with stability control and rollover mechanisms could score you an extra 10% discount under the safe driving plan. In addition, since even the base model has anti-theft equipment, including an alarm and ignition cut-off device, you could receive 10% of your rates too.

When you add the fact that the car insurance industry has viewed Honda as a maker of safe and trustworthy vehicles, you can be sure that you will receive a rate that is comparable according to your individual driving history. You do not have to concern yourself with the high-risk factors that other automobiles carry.

Theft Rate for Honda Vehicles has Little Effect on the Pilot

According to the statistics found on the National Highway Traffic Safety Administration’s website, the Honda Pilot has extremely low occurrences of vehicle theft. In fact, only 42 reports came in during the year 2010.

Theft incidents continue to drop!

Since 2003, the numbers have declined steadily, from 71 to 50 during 2004. Only during 2005, did they increase to 81 and then stabilize in 2009. This makes the Honda Pilot a safe car to drive and to own.

Car thieves seem to stay clear of this vehicle, because it is not flashy and the number of security features act as a major deterrent. They are not very easy to steal or break into.

If you need a lot of room, the Honda Pilot may be what you are looking for.

Owning a Honda Pilot is a smart choice for people with large families because it can easily accommodate five passengers, while not compromising on style or quality. The design is classic and functional too. It seems as if the carmakers of this particular model decided to choose substance over flash and this is another reason why it continues to sell well in the United States.

When you start comparing other SUVs and come across the Honda Pilot, you will understand the benefits and how they clearly outweigh anything negative. Just be sure you have your finances in order and you should enjoy your new purchase for the next several years.

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