Who Has Affordable Car Insurance Rates for Drivers Over Age 70 in Honolulu?

The car, truck, or SUV you are insuring is probably the most important factor when trying to find low-cost insurance for drivers over age 70. Vehicles with reasonable performance levels, an excellent safety record, or a low likelihood of having liability claims will cost quite a bit less to insure than higher performance models. The next list presents coverage rates for a selection of the more affordable vehicles to insure.

Cheapest Vehicles to Insure in Honolulu, HI
Insured Vehicle Estimated Cost for Full Coverage
Honda Accord LX 4-Dr Sedan $987
Ford Escape XLS 2WD $995
Honda CR-V LX 4WD $987
Jeep Wrangler Sport 4WD 2-Dr $1,034
Hyundai Elantra SE Touring Station Wagon $1,065
Toyota Prius $1,079
Dodge Grand Caravan SE $1,112
Chevrolet Impala LS $1,157
Ford Focus SE 4-Dr Sedan $1,163
Chevrolet Equinox LS AWD $1,173
Jeep Grand Cherokee Laredo 2WD $1,181
Toyota Camry LE $1,173
Toyota RAV4 Limited 4WD $1,182
Volkswagen Jetta S 4-Dr Sedan $1,173
Chevrolet Malibu LS $1,178
Toyota Tacoma Double Cab 4WD $1,173
Ford Explorer Limited 4WD $1,187
Ford F-150 Lariat Crew Cab 2WD $1,194
Honda Civic VP 4-Dr Sedan $1,218
Toyota Corolla S $1,234
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Data variables include single male driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Hawaii minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, multi-vehicle, and safe-driver. Rate information does not factor in specific location which can affect premiums substantially.

By looking at the data, models like the Honda Accord, Ford Escape, Honda CR-V, Jeep Wrangler, and Hyundai Elantra are most likely going to be the cheaper vehicles to insure for older drivers. Auto insurance rates will tend to be more expensive because there is more claim risk for drivers over age 70, but overall those makes and models will tend to have the best rates available.

Trying to find low-cost insurance is not most people’s favorite thing to do, and finding out which insurers offer the best insurance rates for drivers over age 70 will require even more rate comparisons. Every insurance company uses a different method for filing rates in each state, so first we will examine the most budget-friendly insurance companies in Hawaii.

Keep in mind that Honolulu, HI insurance rates are calculated based on many things which can substantially decrease or increase the policy premium. This price variability is why it is critical to shop around with many companies to get the most budget-friendly car insurance rates for drivers over age 70. Car insurance prices are made up of many risk factors and change dramatically, so the cheapest option a year ago may now cost much more than other companies.

Best Car Insurance Prices for Age 70+

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What’s the cheapest car insurance in Hawaii?
Rank Company Cost Per Year
1 USAA $936
2 State Farm $1,120
3 GEICO $1,376
4 Liberty Mutual $1,464
5 Progressive $1,576
6 Allstate $1,984
7 First of Hawaii $2,006
8 AIG $2,397
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USAA normally has some of the most affordable car insurance rates in Honolulu at around $936 each year. This is $660 less than the average premium paid by Hawaii drivers of $1,596. State Farm, GEICO, Liberty Mutual, and Progressive also are some of the best Honolulu, HI car insurance companies.

As the rates illustrate above, if you are currently insured with Liberty Mutual and switched to USAA, you may see annual savings of around $528. Insureds with Progressive could save as much as $640 a year, and Allstate customers might see rate reductions of $1,048 a year.

To see how much you can save, click here or click through to the companies below.

These policy prices are averages for all types of drivers and the different vehicles they drive and are not factoring in a specific vehicle garaging location for drivers over age 70. So the auto insurance company that is most affordable for your situation may not even be in the list above. That’s why you need to get car insurance quotes using your own specific driver and vehicle information.

One of the more important things that are used to help calculate the amount you pay for auto insurance is where you keep your car in Honolulu. Larger areas tend to have more expensive car insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates tend to receive cheaper rates.

The illustration below shows the highest-priced places in Hawaii for drivers over age 70 to buy car insurance in. Honolulu is listed at #12 with an annual cost of $1,036 for the average policy, which is approximately $86 per month.

How much does car insurance cost in Honolulu, HI?
Rank City Premium Per Year
1 Hilo $1,109
2 Ewa Gentry $1,057
3 Kailua $1,052
4 Waimalu $1,047
5 Schofield Barracks $1,047
6 Kapolei $1,047
7 Mililani Town $1,047
8 Royal Kunia $1,046
9 Ewa Beach $1,046
10 Waipahu $1,046
11 Kaneohe $1,036
12 Honolulu $1,036
13 Mililani Mauka $1,036
14 Makakilo $1,026
15 Kihei $1,026
16 Wailuku $1,016
17 Kahului $1,016
18 Nanakuli $1,005
19 Waianae $1,005
20 Pearl City $1,005
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Prices are estimated as the garaging address in Honolulu can lower or raise insurance rates considerably.

Liability-only versus full coverage

Saving money when shopping for insurance is the goal of most vehicle owners, and one of the fastest ways to buy cheap insurance for drivers over age 70 is to not pay for full coverage. The information below illustrates the difference between yearly insurance costs with liability coverage only compared to full coverage. Data assumes no driving violations, no at-fault accidents, $500 deductibles, marital status is single, and no discounts are applied.

Averaged for all ages 20 through 70, physical damage insurance costs an additional $1,671 per year more than carrying just liability coverage. That amount may make you wonder if paying for full coverage is a waste of money. There is no definitive formula for excluding physical damage coverage on your policy, but there is a general guideline you can use. If the yearly cost of full coverage is 10% or more of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.

Violations and accidents raise rates

The recommended way to get the cheapest insurance premiums in Honolulu for older drivers is to drive attentively and maintain a clean driving record. The information below illustrates how violations and fender-benders can influence car insurance rates for each age group. The premium estimates are based on a married female driver, full coverage, $250 deductibles, and no additional discounts are factored in.

In the example above, the average cost of an auto insurance policy per year with a clean driving record and no accidents is $1,461. Add in one speeding ticket and the average cost increases to $1,700, an increase of $239 each year. Now get one accident along with the one speeding ticket and the 12-month cost of insurance for drivers over age 70 goes up to an average of $2,375. That’s an increase of $914, or $76 per month, just for being a careless driver!

The illustration below illustrates how your deductible choice can raise or lower insurance prices when searching for cheap insurance for drivers over age 70. The prices are based on a single female driver, comprehensive and collision coverage, and no discounts are applied to the premium.

The data above shows that a 30-year-old driver could pocket $326 a year by switching from a $100 deductible up to a $500 deductible, or save $490 by switching to a $1,000 deductible. Younger drivers, like the 20-year-old category, could possibly save as much as $730 or more just by choosing higher deductibles when buying full coverage.

When insureds make the decision to increase the deductibles on their policy, it will be necessary to have plenty of discretionary funds to be able to pay the extra out-of-pocket expense associated with higher deductibles.