A recent survey discovered that a large majority of car insurance policyholders in Hawaii have purchased from the same company for well over three years, and just under half have never compared rate quotes at all. U.S. drivers could save themselves as much as $859 a year by just shopping around, but they assume it’s a waste of time to save money by comparing rate quotes.
The best way we recommend to get the cheapest auto insurance rates in Honolulu is to compare quotes once a year from different companies who sell insurance in Hawaii.
- Try to comprehend what coverages are included in your policy and the measures you can take to prevent rate increases. Many things that cause high rates like at-fault accidents and poor credit can be eliminated by making minor changes to your lifestyle. Read the full article for additional ideas to prevent high rates and find possible discounts that are available.
- Quote rates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only quote rates from one company like Progressive or Farmers Insurance, while agents who are independent can provide price quotes from multiple companies.
- Compare the price quotes to the price on your current policy and see if there is a cheaper rate. If you find a better price and make a switch, make sure coverage is continuous and does not lapse.
One piece of advice is to compare similar limits and deductibles on each quote and and to look at as many carriers as you can. This enables a level playing field and many rates to choose from.
If you’re already insured or just want cheaper rates, use these tips to cut your premiums and still get good coverage. Shopping around for the cheapest protection in Honolulu is not that difficult. Consumers just need to understand the best way to shop their coverage around from many different companies online.
The companies shown below have been selected to offer comparison quotes in Hawaii. If several companies are displayed, we suggest you visit as many as you can to get the lowest price.
Auto insurance is an important decision
Despite the high cost of buying insurance for a Lexus IS 200t in Honolulu, auto insurance is required in Hawaii but it also protects you in many ways.
- Most states have mandatory insurance requirements which means you are required to buy specific minimum amounts of liability insurance coverage in order to get the vehicle licensed. 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 IS 200t has a loan, it’s guaranteed your bank will force you to carry insurance to protect their interest in the vehicle. If you default on your policy, the bank or lender will purchase a policy for your Lexus at a more expensive rate and require you to fork over for the much more expensive policy.
- Auto insurance preserves both your assets and your Lexus. It will also pay for all forms of medical expenses incurred in an accident. Liability coverage also covers all legal expenses up to the policy limit if you are sued as the result of your driving. If your Lexus gets damaged, comprehensive (other-than-collision) and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of having auto insurance greatly outweigh the cost, especially with large liability claims. But the average American driver is currently overpaying as much as $825 a year so it’s very important to do a rate comparison once a year at a minimum to ensure rates are competitive.
Parts of your insurance policy
Understanding the coverages of insurance can be of help when determining the right coverages and the correct deductibles and limits. Insurance terms can be ambiguous and even agents have difficulty translating policy wording.
Comprehensive (Other than Collision)
Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against claims such as hitting a bird, hail damage, a tree branch falling on your vehicle, theft and vandalism. The highest amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.
Collision insurance will pay to fix damage to your IS 200t from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.
Collision can pay for things such as scraping a guard rail, crashing into a ditch and sustaining damage from a pot hole. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. Another option is to increase the deductible on your IS 200t to bring the cost down.
Liability insurance protects you from damage or injury you incur to other’s property or people in an accident. It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 20/40/10 that translate to $20,000 bodily injury coverage, a limit of $40,000 in injury protection per accident, and a total limit of $10,000 for damage to vehicles and property. Some companies may use a combined limit which provides one coverage limit and claims can be made without the split limit restrictions.
Liability can pay for things such as repair bills for other people’s vehicles, structural damage, attorney fees and emergency aid. How much liability coverage do you need? That is your choice, but you should buy as high a limit as you can afford. Hawaii state law requires minimum liability limits of 20/40/10 but drivers should carry more coverage.
The next chart demonstrates why buying the state minimum limits may not be adequate coverage.
Protection from uninsured/underinsured drivers
This protects you and your vehicle’s occupants from other motorists when they are uninsured or don’t have enough coverage. This coverage pays for injuries to you and your family and also any damage incurred to your Lexus IS 200t.
Due to the fact that many Hawaii drivers have only the minimum liability required by law (which is 20/40/10), it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important. Most of the time these coverages are set the same as your liability limits.
Medical expense insurance
Med pay and PIP coverage reimburse you for expenses for pain medications, nursing services, prosthetic devices, ambulance fees and chiropractic care. They can be used to cover expenses not covered by your health insurance program or if you do not have health coverage. It covers all vehicle occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is not universally available and gives slightly broader coverage than med pay
Which car insurance company is best in Honolulu?
Choosing the right auto insurance provider can be challenging considering how many companies provide coverage in Honolulu. The rank data in the next section could help you select which companies you want to consider when looking for cheaper rates.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Don’t give up on cheaper rates
We just covered a lot of techniques to get a better price on Lexus IS 200t insurance in Honolulu. It’s most important to understand that the more price quotes you have, the better your chances of lowering your car insurance rates. Drivers may even discover the lowest rates come from a smaller regional carrier.
Insureds leave their current company for a variety of reasons including not issuing a premium refund, denial of a claim, unfair underwriting practices or policy cancellation. Whatever your reason, switching companies is not as hard as you think.
When shopping online for insurance, do not sacrifice coverage to reduce premiums. In too many instances, drivers have reduced liability limits or collision coverage only to regret at claim time that their decision to reduce coverage ended up costing them more. The proper strategy is to buy a smart amount of coverage at the best price.
Additional insurance information can be read at these links:
- Driving in Bad Weather (Insurance Information Institute)
- Who Has Cheap Honolulu Car Insurance for Teachers? (FAQ)
- Who Has Affordable Honolulu Car Insurance Quotes for a 20 Year Old Male? (FAQ)
- Who Has the Cheapest Honolulu Auto Insurance Quotes with Multiple Speeding Tickets? (FAQ)
- Who Has Cheap Auto Insurance for High Risk Drivers in Honolulu? (FAQ)
- Who Has Affordable Auto Insurance for a GMC Acadia in Honolulu? (FAQ)
- What Car Insurance is Cheapest for a Chevrolet Equinox in Honolulu? (FAQ)
- Bodily Injury Coverage (Liberty Mutual)
- Coverage Information (Progressive Insurance)
- Older Driver Statistics (Insurance Information Institute)