Scraping up a payment for high-priced Toyota Prius V insurance in Honolulu can deplete your accounts and make it tough to pay other bills.
Unimaginable but true, almost 70% of drivers have stayed with the same insurance company for over three years, and practically 40% of auto insurance customers have never taken the time to shop around. Honolulu drivers could save an average of up to $356 each year just by getting comparison quotes, but most undervalue how much money they would save if they changed companies. Consumers have so many auto insurance companies to purchase coverage from, and even though it's nice to have multiple companies, more options can take longer to find the best rates for Toyota Prius V insurance in Honolulu.
Our goal is to let you in on how car insurance quotes work and how you can save the most money. If you have a current auto insurance policy, you will surely be able to save money using this information. You only need an understanding of the proper way to shop from multiple carriers.
All the larger auto insurance companies allow you to get coverage price quotes online. Getting Toyota Prius V insurance prices online doesn't take a lot of time as all you need to do is type in your required coverages on the page. Upon sending the form, their rating system obtains information on your driving record and credit history and gives you a price quote. This simplifies rate comparisons, and it's very important to have as many quotes as possible if you want to get the most affordable auto insurance rates.
To quickly find out how much you're overpaying now, check out the auto insurance providers below. To compare your current rates, we recommend you duplicate the coverages exactly as they are listed on your policy. Using the same limits helps guarantee you will be getting an apples-to-apples comparison for exact coverage.
The auto insurance companies shown below are ready to provide free rate quotes in Hawaii. If more than one company is shown, we recommend you get rates from several of them to get a more complete price comparison.
It may be expensive, but it's not optional
Even though Honolulu Prius V insurance rates can get expensive, insurance may not be optional for several reasons.
First, the majority of states have minimum mandated liability insurance limits which means you are required to carry specific limits of liability insurance coverage if you want to drive legally. In Hawaii these limits are 20/40/10 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
Second, if you have a loan on your car, most banks will require you to have physical damage coverage to guarantee loan repayment. If you default on your policy, the bank may insure your Toyota for a lot more money and require you to pay the higher premium.
Third, auto insurance protects both your Toyota and your personal assets. Insurance will pay for all forms of medical expenses for you, any passengers, and anyone injured in an accident. As part of your policy, liability insurance also pays expenses related to your legal defense if anyone sues you for causing an accident. If damage is caused by hail or an accident, collision and comprehensive (also known as other-than-collision) coverage will cover the damage repairs after a deductible is paid.
The benefits of having insurance outweigh the cost, particularly for liability claims. Despite what companies tell you, the average driver is overpaying over $830 a year so compare quotes from several companies each time the policy renews to ensure rates are competitive.
What Impacts Toyota Prius V Insurance Prices?
Multiple criteria are taken into consideration when you get your auto insurance bill. Most are fairly basic like your driving record, although others are not quite as obvious like your continuous coverage or your financial responsibility. A large part of saving on insurance is knowing some of the factors that help calculate your policy premiums. If you know what determines premiums, this enables you to make decisions that could help you find much lower annual insurance costs.
- Teenagers are high risk - Older people are shown to be more cautious, tend to file fewer claims, and receive fewer citations.Young drivers have a tendency to be inattentive in a vehicle and because of this, their insurance rates are much higher.
- Premiums are affected by your address - Being located in a rural area has it's advantages when insuring your vehicles. Drivers who live in large cities have to deal with more traffic problems and much longer commute distances. Less people means a lower chance of having an accident.
- Don't buy incidental coverages that may not be needed - There are a ton of extra coverages you can purchase on your Prius V policy. Coverage for things like rental car coverage, towing, and additional equipment coverage may not be needed and are just wasting money. These may sound like a good investment when you first buy your policy, but your needs may have changed so eliminate the coverages to reduce your premium.
- Raise deductibles and save - Physical damage coverage, termed comprehensive and collision coverage on your policy, helps pay for damage to your vehicle. A few examples of covered claims would be a broken side mirror, damage caused by hail, and rolling your vehicle. The deductibles represent how much money you are willing to pay if a claim is determined to be covered. The more you pay before a claim is paid (deductible), the better rate you will receive.
- Alarms and GPS tracking lower premiums - Choosing to buy a car with a theft deterrent system can save you a little every year. Theft prevention features such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping car theft.
- Consolidate policies to earn discounts - Lots of companies afford a discount to buyers that buy multiple policies, otherwise known as a multi-policy discount. The amount of the discounts can be 10 percent or more. Even if you qualify for this discount already, it's still a good idea to check prices from other companies to verify if the discount is saving money. You may still be able to find lower rates by buying insurance from a different company.
- Insurance premiums and vehicle performance - The performance level of the car you need to insure makes a significant difference in your rates. Since the Toyota Prius V is a compact car, insurance will be the same to a little lower when compared to the average rates in Honolulu. Small economy passenger models normally have pretty low rates, but other factors influence the final cost greatly.
- Insurance losses for a Toyota Prius V - Auto insurance companies use past insurance losses to calculate a price that will offset any claims. Models that historically have increased losses will cost more for specific coverages. The next table shows the compiled insurance loss statistics for Toyota Prius V vehicles.
For each policy coverage, the statistical loss for all vehicles, as a total average, is considered to be 100. Percentage values below 100 imply a favorable loss record, while percentage values above 100 indicate a higher chance of having a claim or an increased chance of a larger loss.
Auto Insurance Loss Data for Toyota Prius V Models
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Toyota Prius V Hybrid 94 86 88 88 94 97
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Auto insurance rates and discounts
Car insurance is not cheap, but there may be some discounts to help offset the cost. Some discounts will apply when you purchase, but occasionally some discounts must be requested specifically prior to receiving the credit.
- Buy New and Save - Buying insurance on a new vehicle can be considerably cheaper since newer vehicles are generally safer.
- Drivers Education - Reduce the cost of insurance for teen drivers by having them successfully complete driver's ed class in high school.
- Multiple Policy Discount - If you can combine your auto and homeowners policy with the same company you could earn a discount of at least 10 to 15 percent or more.
- Senior Discount - Drivers that qualify as senior citizens may receive a discount up to 10%.
- Organization Discounts - Joining qualifying employment or professional organizations can get you a small discount on your next auto insurance statement.
- Student in College - Children who live away from home to go to college and do not have access to a covered vehicle may be able to be covered for less.
As a disclaimer on discounts, some of the credits will not apply to the overall cost of the policy. The majority will only reduce specific coverage prices like medical payments or collision. So even though it sounds like having all the discounts means you get insurance for free, companies don't profit that way.
A few of the larger companies and some of their more popular discounts are shown below.
- State Farm may have discounts that include Steer Clear safe driver discount, passive restraint, safe vehicle, Drive Safe & Save, and accident-free.
- GEICO discounts include multi-policy, driver training, military active duty, daytime running lights, defensive driver, and federal employee.
- Progressive offers discounts for homeowner, online quote discount, good student, continuous coverage, online signing, and multi-policy.
- 21st Century includes discounts for early bird, teen driver, student driver, 55 and older, and defensive driver.
- American Family offers premium reductions for mySafetyValet, bundled insurance, defensive driver, good driver, early bird, multi-vehicle, and accident-free.
- The Hartford policyholders can earn discounts including defensive driver, driver training, air bag, good student, and bundle.
- AAA offers discounts including anti-theft, good student, pay-in-full, education and occupation, good driver, and multi-car.
Before buying, ask all companies you are considering which discounts they offer. Some of the discounts discussed earlier might not be offered on policies in Honolulu. To see a list of insurers with discount auto insurance rates in Honolulu, follow this link.
Everyone needs different auto insurance coverages
When quoting and comparing insurance from an agent or online for your vehicles, there really is no one-size-fits-all type of policy. Your financial needs are unique.
For instance, these questions may help you determine whether or not you might need professional guidance.
- Can good grades get a discount?
- What is the difference between personal and commercial auto insurance policies?
- Why does it cost so much to insure a teen driver in Honolulu?
- If I drive on a suspended license am I covered?
- Is my teen driver covered when they drive my company car?
- When can my company non-renew my policy?
- Am I covered if I back into my garage door?
- Is water damage covered by my policy?
- Can I afford low physical damage deductibles?
If you can't answer these questions, you may need to chat with a licensed insurance agent. To find an agent in your area, fill out this quick form. It only takes a few minutes and may give you better protection.
Independent and exclusive insurance agents
Many drivers would prefer to sit down with an agent and that is recommended in a lot of cases Insurance agents will help you protect your assets and give you someone to call. The biggest benefit of getting online price quotes is you may find lower rates and also buy local. And supporting local insurance agents is important especially in Honolulu.
Once you complete this short form, the quote information is instantly submitted to insurance agents in Honolulu who can give free rate quotes to get your business. It simplifies rate comparisons since you won't have to contact any agents as quotes are delivered to you. If you have a need to compare prices from a specific company, you would need to search and find their rate quote page and fill out the quote form the provide.
The different types of car insurance agents
If you want to use a reliable insurance agency, you should know the different agency structures and how they are slightly different. Agencies in Honolulu can either be independent or exclusive depending on the company they work for. Both can insure your vehicles properly, but it's good to learn the difference between them because it may have an impact on your selection of an agent.
Independent Car Insurance Agencies
These agents are normally appointed by many insurers so they can insure your vehicles with any number of different companies and get you the best rates possible. If prices rise, the agent simply finds a different carrier which requires no work on your part.
When comparison shopping, you will want to get insurance quotes from at a minimum one independent agency to get the most accurate price comparison.
Listed below are independent agencies in Honolulu that may be able to give you free price quotes.
Exclusive Insurance Agents
Agents of this type write business for a single company such as State Farm, Allstate, or Farmers Insurance. Exclusive agents cannot give you multiple price quotes so you might not find the best rates. Exclusive agencies are well trained in insurance sales which helps them sell insurance even at higher premiums.
Below is a list of exclusive agencies in Honolulu that can give you price quotes.
Choosing a auto insurance agent shouldn't rely on just the premium amount. Get answers to these questions too.
- What company do they have the most business with?
- How long has their agency been open in Honolulu?
- Does the company have a local claim office in Honolulu?
- Does the company have a solid financial rating?
- Do they offer accident forgiveness?
Be persistent to save money
Lower-priced auto insurance in Honolulu can be sourced on the web as well as from independent agents in Honolulu, and you should be comparing both to get a complete price analysis. Some insurance providers may not provide online price quotes and most of the time these regional insurance providers sell through independent agencies.
In this article, we presented many tips how you can find cheap Toyota Prius V insurance in Honolulu. The key thing to remember is the more rate quotes you have, the higher your chance of finding low cost Honolulu auto insurance quotes. You may even discover the lowest prices come from some of the lesser-known companies.
Consumers switch companies for any number of reasons including delays in paying claims, extreme rates for teen drivers, poor customer service and even high rates after DUI convictions. No matter why you want to switch, switching auto insurance companies is pretty simple and you could end up saving a buck or two.
More detailed auto insurance information is available in these articles:
- Collision Coverage (Liberty Mutual)
- Who Has Cheap Hawaii Car Insurance for Drivers Over Age 60? (FAQ)
- How Much is Auto Insurance for a 20 Year Old Male in Hawaii? (FAQ)
- Auto Theft Statistics (Insurance Information Institute)
- Young Drivers: The High Risk Years Video (iihs.org)
- How do I File a Claim? (Insurance Information Institute)