Affordable BMW Z4 Insurance in Honolulu

Insurance for BMW Z4To save the most money, the best way to get cheaper auto insurance rates in Honolulu is to start comparing rates regularly from insurance carriers in Hawaii. Rates can be compared by following these steps.

  1. Try to comprehend how companies price auto insurance and the measures you can take to prevent rate increases. Many rating factors that increase rates like accidents, careless driving, and a negative credit score can be improved by making minor driving habit or lifestyle changes. Later in this article we will cover ideas to lower rates and find discounts that you may qualify for.
  2. Compare prices from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only quote rates from a single company like GEICO and State Farm, while independent agencies can provide price quotes from multiple sources.
  3. Compare the price quotes to the premium of your current policy to see if you can save by switching companies. If you can save money, make sure coverage is continuous and does not lapse.

A key point to remember is that you’ll want to make sure you compare identical deductibles and limits on every price quote and and to get rates from as many companies as feasibly possible. This provides a level playing field and many rates to choose from.

Sadly, nearly 70% of Hawaii drivers kept their coverage with the same insurance company for more than four years, and 38% of customers have never shopped around. American insurance shoppers could save as much as $860 every year by just shopping around, but they underestimate how much they could save if they moved their coverage to a different company.

Buying the cheapest auto insurance in Honolulu is easy if you know what you’re doing. If you are already insured or need a new policy, you can learn to save money without having to cut coverage. Shoppers just have to learn the best way to find the lowest price online from multiple companies.

The fastest way that we advise to compare car insurance company rates for BMW Z4 insurance in Honolulu takes advantage of the fact most of the larger companies actually pay money for the chance to give free rates quotes. The one thing you need to do is provide information like if your license is active, how much school you completed, your occupation, and marital status. Your rating data gets transmitted to multiple companies and they return rate quotes almost instantly.

To get price quotes for your BMW Z4 now, click here and see if a lower rate is available in Honolulu.

The companies shown below provide free rate quotes in Hawaii. If several companies are displayed, we recommend you get price quotes from several of them in order to get a fair rate comparison.

BMW Z4 insurance statistics and information

The rate information shown next outlines different insurance rates for BMW Z4 models. Learning as much as possible about how auto insurance policy rates are formulated can be of help when making smart buying decisions.

BMW Z4 Insurance Rates in Honolulu, HI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Z4 3.0I SDRIVE 2-Dr Roadster $124 $250 $216 $12 $64 $666 $56
Z4 3.5I SDRIVE 2-Dr Roadster $124 $250 $216 $12 $64 $666 $56
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Data rating is based on married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Hawaii minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Premium costs do not factor in specific location information which can modify insurance rates significantly.

Deductible analysis

When buying auto insurance, a common question is which deductibles should you choose. The comparisons below can help illustrate the rate differences of buying low and high comp and collision deductibles. The first rate comparisons uses a $250 deductible for comprehensive and collision coverage and the second rate chart uses a $1,000 deductible.

BMW Z4 insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Z4 3.0I SDRIVE 2-Dr Roadster $258 $468 $226 $14 $68 $1,059 $88
Z4 3.5I SDRIVE 2-Dr Roadster $258 $468 $226 $14 $68 $1,059 $88
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BMW Z4 insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Z4 3.0I SDRIVE 2-Dr Roadster $158 $294 $226 $14 $68 $760 $63
Z4 3.5I SDRIVE 2-Dr Roadster $158 $294 $226 $14 $68 $760 $63
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Hawaii minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Premium amounts do not factor in Honolulu location which can increase or decrease price quotes significantly.

Based on the figures above, using a $250 deductible costs roughly $25 more each month or $300 for a full year than choosing the higher $1,000 deductible. Due to the fact that you would have to pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to have more than 30 months between claims, you would save money by going with a higher deductible. Here is the way you can do this calculation yourself.

Average monthly premium for $250 deductibles: $88
Average monthly premium for $1,000 deductibles (subtract): – $63
Monthly savings from raising deductible: $25
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $25
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 30 months

An important sidenote is that a higher deductible means you will have to cover more of the damage yourself when you have a claim. You need to have some non-essential savings in the event you have to pay the deductible.

Full coverage rates vs. liability-only

The information below shows the comparison of BMW Z4 insurance rates with and without physical damage coverage. The information is based on no claims, a clean driving record, $500 deductibles, drivers are not married, and no additional discounts are factored in.

When to buy liability coverage only

There is no definitive rule of when to stop paying for physical damage coverage, but there is a general convention. If the yearly cost for physical damage coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.

For example, let’s say your BMW Z4 book value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company will settle for is $7,000 after the policy deductible has been paid. If you are currently paying more than $700 annually for physical damage coverage, then it may be the right time to buy liability only.

There are some cases where dropping physical damage coverage is not a good idea. If you still owe money on your vehicle, you must maintain physical damage coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should not drop full coverage.

Companies offer lots of discounts on BMW Z4 insurance in Honolulu

Companies offering auto insurance do not list every possible discount in a way that’s easy to find, so the following list contains a few of the more well known as well as the least known credits that you can use to lower your rates. If you aren’t receiving every discount available, you’re paying more than you need to.Discount insurance

It’s important to understand that most credits do not apply to the entire policy premium. The majority will only reduce individual premiums such as comp or med pay. Just because it seems like you could get a free insurance policy, company stockholders wouldn’t be very happy.

The diagram below compares BMW Z4 annual premium costs with and without discounts applied. The costs are based on a male driver, no tickets, no at-fault accidents, Hawaii state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, safe-driver, marriage, multi-policy, claim-free, and multi-car discounts applied.

Insurance companies that may have some of the above discounts include:

If you are trying to find inexpensive Honolulu auto insurance quotes, ask each company or agent what discounts are available to you. Depending on the company, some discounts may not be offered in your area.

Why you need to buy auto insurance

Despite the fact that auto insurance is not cheap in Honolulu, insuring your vehicle serves an important purpose.

First, almost all states have minimum liability requirements which means the state requires a specific minimum amount of liability 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.

Second, if you bought your BMW Z4 with a loan, it’s guaranteed your bank will stipulate that you buy insurance to guarantee payment of the loan. If you default on your policy, the lender will be forced to insure your BMW for a much higher rate and make you pay for the much more expensive policy.

Third, auto insurance preserves both your BMW Z4 and your assets. It will also pay for all forms of medical expenses for you, your passengers, and anyone else injured in an accident. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses in the event you are sued. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay to have it repaired.

The benefits of insuring your Z4 definitely exceed the price paid, specifically if you ever have a liability claim. The average driver in Hawaii overpays as much as $810 a year so shop around at every policy renewal to save money.

What is the best auto insurance coverage?

When it comes to proper insurance coverage for your vehicles, there is no single plan that fits everyone. Each situation is unique.Higher deductibles save money

For example, these questions may help highlight whether your personal situation may require specific advice.

If you’re not sure about those questions but you think they might apply to your situation then you might want to talk to an agent. To find an agent in your area, complete this form. It’s fast, free and you can get the answers you need.

When to get advice from a local insurance agent

Some consumers just prefer to sit down with an agent and that is not a bad decision Agents will help you protect your assets and will help you if you have claims. The best thing about comparing insurance prices online is the fact that you can find lower rates but still work with a licensed agent.

Upon completion of this quick form, your information is emailed to participating agents in Honolulu who will give you quotes to get your business. It makes it easy because there is no need to leave your house as quotes are delivered to you instantly. If for some reason you want to get a rate quote from a specific insurance company, you would need to navigate to their website and fill out their quote form.

Finding the right insurer is decision based upon more than just a cheap price. Any agent in Honolulu should be forthright in answering these questions:

If you need to find a reputable insurance agent or broker, it’s helpful to know the types of agencies and how they can quote your rates. Insurance agencies in Honolulu may be either independent or exclusive depending on the company they work for. Either can insure your vehicles properly, but it’s worth mentioning the differences since it may influence your selection of an agent.

Exclusive Car Insurance Agents

Exclusive insurance agents can usually just insure with one company and some examples include State Farm, Allstate, and Farm Bureau. They generally cannot provide other company’s prices so always compare other rates. They are trained well in insurance sales and that allows them to sell at a higher price point.

The following are exclusive agencies in Honolulu who may provide you with price quotes.

1649 Liliha StHonolulu, HI 96817(808) 834-2222View Map

2024 N King St #101bHonolulu, HI 96819(808) 842-5844View Map

677 Ala Moana Blvd Ste 310Honolulu, HI 96813(808) 951-0866View Map

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Independent Car Insurance Agents

Independent insurance agents are not employed by any specific company so they have the ability to put coverage with any number of different companies and get you the best rates possible. If prices rise, your agent can switch companies and you can keep the same agent. If you are comparing rate quotes, we recommend you check rates from several independent insurance agents for maximum quote selection.

Below is a short list of independent insurance agencies in Honolulu that can give you price quotes.

1088 Bishop St #2210Honolulu, HI 96813(808) 841-5915View Map

1132 Bishop St #1600Honolulu, HI 96813(808) 533-8728View Map

1100 Alakea St #2600Honolulu, HI 96813(808) 537-1970View Map

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