Having to pay for overpriced insurance in Honolulu can diminish your bank account and possibly require postponing other expenditures. Performing a price comparison is recommended to cut your insurance bill.
A recent insurance study discovered that a large majority of insurance policyholders kept their policy with the same company for four years or more, and almost half have never quoted rates to find cheap coverage. Many consumers in Hawaii could save $356 each year just by comparing rates, but they don't believe how much they could save if they replace their high priced policy. Drivers have multiple auto insurance companies to purchase coverage from, and although it's a good thing to have a selection, more choices can make it harder to compare rates and find the lowest cost insurance.
It's a good habit to compare rates yearly because prices trend upward over time. Even if you got the lowest price on Hyundai Veloster insurance in Honolulu six months ago there is a good chance you can find better rate quotes now. Block out anything you think you know about insurance because you're about to learn how to use online quotes to save on insurance.
The following companies are ready to provide price quotes in Honolulu, HI. If multiple companies are listed, we recommend you get rate quotes from several of them to get a more complete price comparison.
Buying the right vehicle insurance in Hawaii is an important decision
Despite the high cost of buying insurance for a Hyundai Veloster in Honolulu, insuring your vehicle is required by state law in Hawaii and it also provides benefits you may not be aware of.
- Almost all states have mandatory liability insurance requirements which means you are required to buy a specific minimum amount of liability insurance coverage if you don't want to risk a ticket. 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.
- If your Hyundai has a loan, almost all lenders will make it mandatory that you buy full coverage to guarantee their interest in the vehicle. If the policy lapses, the bank may insure your Hyundai at a much higher premium rate and force you to pay a much higher amount than you were paying before.
- Insurance protects not only your Hyundai Veloster but also your assets. Insurance will pay for medical expenses incurred in an accident. Liability coverage, the one required by state law, also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If your Hyundai gets damaged, comprehensive and/or collision insurance will pay all costs to repair after the deductible has been paid.
The benefits of carrying enough insurance are definitely more than the cost, especially if you ever need it. The average driver in America is overpaying more than $700 annually so you should quote your policy with other companies at least once a year to make sure the price is not too high.
Insurance advertising gotchas
Consumers in Hawaii can't escape the ads that claim the lowest rates from companies such as Progressive, Allstate and GEICO. All the companies have a common claim that you'll save big if you just switch your policy.
How does every company charge lower premium rates? Here is how they do it.
Companies can use profiling for the type of insured that will most likely be profitable. A good example of a preferred risk might be described as over age 30, has a clean driving record, and drives less than 7,500 miles a year. A customer getting a price quote that fits those parameters may get the lowest prices in Honolulu and will most likely save quite a bit of money when switching.
Potential insureds who do not match the requirements will be quoted more expensive rates and the driver buying from a lower-cost company. The trick is to say "customers who switch" but not "all drivers who get quotes" can get the lowest rates when switching. This is how insurance companies can confidently make the claims of big savings. Because every company is different, you really should get price quotes at each policy renewal. It's impossible to know which insurance company will have the best rates for your profile.
You may qualify for discounts for Hyundai Veloster insurance in Honolulu
Some companies don't always publicize the entire discount list very clearly, so we took the time to find some of the more common and the more hidden discounts that you can inquire about if you buy Honolulu auto insurance online.
- Cautious Drivers - Drivers without accidents can save up to 40% or more on their Honolulu auto insurance quote as compared to drivers with claims.
- Own a Home - Being a homeowner can save a few bucks since home ownership requires personal responsibility.
- Passive Restraints and Air Bags - Cars that have air bags and/or automatic seat belt systems can qualify for discounts as much as 30%.
- Multi-Vehicle Discounts - Drivers who insure more than one vehicle on one policy may reduce the rate for each vehicle.
- Braking Control Discount - Vehicles with ABS and/or traction control can avoid accidents and qualify for as much as a 10% discount.
- Full Payment Discount - By paying your entire bill at once rather than spreading payments over time you could save up to 5%.
Discounts reduce rates, but you should keep in mind that most credits do not apply to the whole policy. The majority will only reduce the cost of specific coverages such as liability, collision or medical payments. Despite the fact that it seems like all the discounts add up to a free policy, you aren't that lucky.
Large auto insurance companies and a partial list of their discounts are included below.
- State Farm has discounts for Drive Safe & Save, driver's education, student away at school, passive restraint, defensive driving training, and multiple policy.
- GEICO may include discounts for anti-theft, military active duty, five-year accident-free, driver training, federal employee, good student, and seat belt use.
- Progressive offers discounts for continuous coverage, online quote discount, multi-policy, homeowner, online signing, good student, and multi-vehicle.
- 21st Century offers premium reductions for air bags, theft prevention, anti-lock brakes, student driver, driver training, teen driver, and 55 and older.
- American Family may have discounts that include early bird, defensive driver, accident-free, multi-vehicle, mySafetyValet, good student, and TimeAway discount.
- The Hartford offers discounts including air bag, bundle, driver training, good student, vehicle fuel type, and anti-theft.
- AAA may offer discounts for pay-in-full, good student, AAA membership discount, education and occupation, and multi-policy.
When comparing rates, check with each insurance company the best way to save money. Some of the earlier mentioned discounts may not be available in your state. To find insurers with significant discounts in Honolulu, click this link.
What if I want to buy from local Honolulu auto insurance agents?
Certain consumers would rather go talk to an agent and we recommend doing that Good agents can point out coverage gaps and help submit paperwork. A good thing about getting online price quotes is you may find cheaper prices but still work with a licensed agent.
After filling out this short form, your insurance coverage information is transmitted to companies in Honolulu that can provide free Honolulu auto insurance quotes and help you find cheaper coverage. You never need to search for an agent because quoted prices will be sent to you. If you need to get a rate quote from a particular provider, you would need to search and find their rate quote page and fill out their quote form.
Picking an insurance company should depend on more than just a low price. Any good agent in Honolulu should know the answers to these questions.
- How many companies do they write for?
- If you raise deductibles, how much can you save?
- Is insurance their full-time profession?
- What company holds the largest book of business for them?
- Does the quote include credit and driving reports?
- Are they primarily personal or commercial lines agents in Honolulu?
- Where would your vehicle be repaired?
- Do they have cheaper tiers of coverage?
Pick the best auto insurance agent in Honolulu for you
If you want a good Honolulu insurance agent, you should know the different types of agencies that differ in how they can insure your vehicles. Agents are classified as either exclusive agents or independent agents. Both types can insure your vehicles, but it's worth learning how they differ since it can impact your selection of an agent.
Agents that choose to be exclusive can only place business with one company and some examples include Allstate, Farmers Insurance, State Farm, and AAA. They usually cannot provide other company's prices so if the price isn't competitive there isn't much they can do. Exclusive agencies are very knowledgeable on their products and sales techniques and that allows them to sell at a higher price point.
Shown below are exclusive insurance agencies in Honolulu who may provide you with price quote information.
Independent Insurance Agents
These agents can sell policies from many different companies and that is an advantage because they can write policies through many companies and help determine which has the cheapest rates. To transfer your coverage to a different company, the agent simply finds a different carrier which is easy for the insured.
When comparing rate quotes, you will want to get some free quotes from several independent agencies to have the most options to choose from.
Listed below is a short list of independent agencies in Honolulu that are able to give price quotes.
How do I know if I need professional advice?
When choosing coverage online or from an agent for your personal vehicles, there isn't really a "perfect" insurance plan. You are unique and your car insurance should unique, too. For instance, these questions may help you determine whether your personal situation could use an agent's help.
- Can my babysitter drive my car?
- Do I benefit by insuring my home with the same company?
- Are there companies who specialize in insuring high-risk drivers?
- What if an uninsured driver hits me?
- Is extra glass coverage worth it?
- Is my business laptop covered if it gets stolen from my vehicle?
- How much coverage applies to personal belongings?
- How can I force my company to pay a claim?
- Am I better off with higher deductibles on my Hyundai Veloster?
If it's difficult to answer those questions but one or more may apply to you, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It's fast, free and can help protect your family.
Do the work, save more money
In this article, we covered quite a bit of information on how to lower your Hyundai Veloster insurance premium rates in Honolulu. The key concept to understand is the more you quote Honolulu auto insurance, the more likely it is that you will get a better rate. Consumers may even find the biggest savings come from a small local company. These smaller insurers can often insure niche markets at a lower cost as compared to the big name companies such as Allstate, GEICO and Progressive.
Discount Hyundai Veloster insurance in Honolulu can be bought online as well as from independent agents in Honolulu, so you need to quote Honolulu auto insurance with both to have the best chance of lowering rates. Some companies may not offer the ability to get quotes online and these small, regional companies only sell through independent insurance agents.
When you buy Honolulu auto insurance online, it's not a good idea to skimp on critical coverages to save a buck or two. There have been many cases where an insured dropped liability coverage limits to discover at claim time they didn't have enough coverage. The proper strategy is to buy enough coverage at the lowest possible cost, but don't skip important coverages to save money.
To learn more, link through to the resources below:
- Safety Tips for Teen Drivers (Insurance Information Institute)
- Who Has Cheap Hawaii Car Insurance for a Hyundai Elantra? (FAQ)
- Who Has Affordable Hawaii Auto Insurance for a Chevrolet Cruze? (FAQ)
- Who Has Affordable Car Insurance for 19 Year Olds in Hawaii? (FAQ)
- Coverage Information (Progressive Insurance)
- What does Personal Injury Protection (PIP) Cover? (Allstate)
- What if I Can't Find Coverage? (Insurance Information Institute)
- Crash Avoidance Technologies FAQ (iihs.org)