One of the more important things that are used to help calculate the price you pay for insurance is where you call home. More populated areas will most likely have higher rates, whereas more rural areas have the luxury of lower rates.
The illustration below ranks the most expensive areas in Hawaii for Uber drivers to purchase a policy in. Honolulu makes the list at #7 with the annual price of $1,047 for car insurance, which is approximately $87 per month.
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Information shown are comparative as the specific Honolulu residence address can change prices significantly.
Determining which insurers offer the best auto insurance rates for Uber drivers will involve a bit more work than just picking a company at random. Every car insurance company has a unique approach for determining prices, so let’s examine the most competitive auto insurance companies in Honolulu, HI.
It’s important that you understand Honolulu auto insurance rates are calculated based on many things which can significantly increase or decrease the price you pay. Simply having a birthday, increasing liability limits, or getting a DUI may prompt premium changes that can cause some rates to be more affordable than competitors.
Best Car Insurance Prices for Your Uber Vehicle
USAA may have some of the best car insurance rates in Honolulu at around $954 per year. This is $642 less than the average price paid by Hawaii drivers of $1,596. State Farm, GEICO, Liberty Mutual, and Progressive also qualify as some of the most economical Honolulu, HI auto insurance companies.
As illustrated above, if you currently have a policy with State Farm and switched to USAA, you may see an annual premium reduction of around $133. Insureds with GEICO might save as much as $435 a year, and Liberty Mutual customers might cut rates by $452 a year.
If you want to see how much you could save, click here to start a quote or click several companies below for low rates.
Understand that those premiums are averages across all types of insureds and vehicles and and are not figured with an exact location for Uber drivers. So the auto insurance company that is most affordable for your situation may not even be in the list above. That is why you need to quote rates from many companies using your own individual information.
The illustration below illustrates how your choice of deductibles can change insurance premiums when getting quotes for cheap insurance for Uber drivers. The costs are based on a married male driver, full coverage, and no discounts are applied to the premium.
A 30-year-old driver could lower their policy premium by $204 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $310 by switching to a $1,000 deductible. Even younger drivers, like the Age 20 chart data, could possibly save as much as $616 annually just by choosing larger deductibles.
If you do raise deductibles, it will be required to have additional funds in a savings account to be able to cover the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
How violations and accidents impact rates
In a perfect world, the ideal way to maintain the best auto insurance prices in Honolulu for Uber vehicles is to drive attentively and avoid at-fault accidents and violations. The diagram below shows how traffic citations and accidents impact insurance costs for different insured age categories. The costs are based on a married female driver, full physical damage coverage, $100 deductibles, and no discounts are taken into consideration.
In the example above, the average cost of car insurance in Hawaii per year with a clean driving record and no accidents is $1,565. Get written up for one speeding ticket and the average cost swells to $1,822, an increase of $257 each year. Now add one accident along with the one speeding ticket and the 12-month cost of auto insurance for Uber drivers goes up to an average of $2,559. That’s an increase of $993, or $83 per month, just for a couple of infractions!
How to find cheaper insurance for Uber drivers
It is possible to find better rates, and here are some of the recommended money-saving suggestions that can help Hawaii drivers locate cheaper coverage.
- If your vehicles are older, consider dropping full coverage
- Bundle home and auto and earn a discount
- Increase your comprehensive and collision deductibles
- Pay cheaper rates with good credit scores
- If possible, pay for small claims out-of-pocket
- Buy a car with high safety ratings
- Compare prices frequently to find the best deal
The last tip is incredibly important, as was noted in this piece. Insurance prices can change considerably in a year, so drivers shouldn’t be resistant to change to a new company if a better rate can be found. Loyalty to a specific company is fine, but is isn’t recommended if that inflexibility results in costing you a lot of money. In just a few minutes you could compare prices and find cheaper insurance for Uber drivers in Honolulu.