The words "affordable" and "insurance" really shouldn't be used together, especially when comparison shopping for the best insurance rates for drivers with good credit. To save some money, let's start the ball rolling by going over a few of the factors that have an effect on auto insurance prices, and come up with some ideas to cut the cost of your next policy.
Comparing rates for reasonably-priced car insurance is difficult, and figuring out which company has the most affordable car insurance rates for drivers with good credit will involve a little more work. Each insurance company uses a little different formula to establish rates, so first let's look at the rankings for the most budget-friendly car insurance companies in Honolulu.
Keep in mind that Hawaii car insurance rates are influenced by many factors that may substantially change the policy premium. This price variation is why Honolulu drivers need to shop around to find the most economical car insurance quotes for drivers with good credit. Rates can be altered by many risk factors and change dramatically, so the most affordable company the last time you shopped your coverage around may now be an over-priced policy.
Lowest Insurance Price Quotes for High Credit
USAA may have some of the most affordable car insurance rates in Honolulu at around $936 each year. State Farm, GEICO, Liberty Mutual, and Progressive are also some of the more affordable Honolulu, HI insurance companies.
As the example above demonstrates, if you buy coverage from State Farm and switched to USAA, you may realize an annual premium reduction of in the neighborhood of $184. Policyholders with GEICO may save as much as $412 a year, and Liberty Mutual policyholders might lower prices by $470 a year.
To discover how much you can save, click here to start your custom quote or quote prices from the following companies.
Be aware that those rates are averaged across all drivers and vehicles and do not take into consideration a specific vehicle garaging location for drivers with good credit. So the auto insurance company that has the lowest price for you may not even be in the list above. That illustrates why you need to quote rates from many companies using your own specific driver information and vehicle.
The make and model of vehicle to be insured is one of the largest factors that determines whether or not you find low-cost car insurance for drivers with good credit. Vehicles with economical engines, good crash test ratings, or a positive history of liability claims will cost significantly less to insure than fast, unsafe models. The list below estimates auto insurance prices for a selection of the more affordable automobiles to insure.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$820|
|Honda Accord LX 4-Dr Sedan||$894|
|Chevrolet Impala LT||$971|
|Ford Escape Limited 4WD||$975|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$989|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$1,000|
|Toyota Corolla LE||$1,022|
|Toyota Camry SE||$1,031|
|Honda Odyssey EX W/Rear Entertainment||$1,040|
|GMC Sierra 2500HD SLE Extended Cab 4WD||$1,050|
|Ford Fusion Sport 4-Dr Sedan||$1,040|
|Chevrolet Malibu LS||$1,063|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,077|
|Ford Explorer Limited 4WD||$1,083|
|Hyundai Sonata SE 4-Dr Sedan||$1,091|
|Chevrolet Equinox LS 2WD||$1,094|
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Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Hawaii minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-vehicle, and multi-policy. Premium amounts do not factor in specific garaging location which can impact auto insurance rates considerably.
Based upon the rates shown, you can figure that cars like the Honda CR-V, Honda Accord, Toyota Prius, Chevrolet Impala, and Ford Escape are likely to be a few of the more affordable vehicles to insure for financially responsible drivers.
For financially responsible drivers, one of the more important things that are looked at to determine the amount you pay for auto insurance is where you call home in Honolulu. More populated areas tend to have higher rates, whereas areas with less congestion benefit from lower rates.
The table below rates the priciest cities in Hawaii for drivers with good credit to buy auto insurance in. Honolulu is listed at #14 costing $1,016 for the average insurance policy, which is about $85 monthly.
|Rank||City||Average Per Year|
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Premium amounts are approximated as the specific geographic location can affect coverage prices significantly.
Rate increases following a ticket or accident
The common sense way to enjoy cheap car insurance prices in Honolulu for financially responsible drivers is to drive safe and avoid accidents and violations. The information below demonstrates how citations and accidents can impact yearly insurance costs for different insured age categories. The prices are based on a married female driver, full coverage, $500 deductibles, and no policy discounts are applied.
In the example above, the average cost of car insurance in Hawaii per year with no violations or accidents is $967. Get two speeding tickets and the average cost jumps to $1,367, an increase of $399 each year. Then add two accidents along with the two speeding tickets and the 12-month cost of car insurance for drivers with good credit goes up to an average of $2,927. That's an increase of $1,960, or $163 per month, just for not driving attentively!
Discounts on Honolulu insurance
Insurance providers that offer coverage for drivers with good credit may also provide special discounts that can lower rates by as much as 35% if you are eligible to receive them. Large car insurance companies and their possible discounts can be read below.
- State Farm may offer discounts for safe vehicle, Drive Safe & Save, passive restraint, good driver, and driver's education.
- GEICO may include discounts for anti-theft, five-year accident-free, federal employee, seat belt use, and anti-lock brakes.
- Allstate includes discounts for anti-lock brakes, resident student, EZ pay plan discount, auto/life discount, FullPay discount, 55 and retired, and teenSMART discount.
- SAFECO has discounts for teen safety rewards, anti-lock brakes, anti-theft, multi-car, and bundle discounts.
- Farm Bureau has savings for renewal discount, multi-policy, good student, safe driver, driver training, youthful driver, and multi-vehicle.
- Progressive offers premium reductions for online signing, good student, multi-vehicle, online quote discount, and continuous coverage.
- AAA may have discounts that include anti-theft, multi-policy, pay-in-full, education and occupation, good driver, and multi-car.
The diagram below compares insurance rates with and without discounts applied to the rates. The data assumes a male driver, a clean driving record, no claims, Hawaii state minimum liability limits, full physical damage coverage, and $100 deductibles.
The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multiple policy, marriage, claim-free, anti-theft, and defensive driving course discounts applied. When discounts are factored in, the average savings per year on car insurance for drivers with good credit is 28% or $573.
A good deal can quickly turn bad
Hawaii car insurance rates are based on many factors that control the price you have to pay. Simply improving your credit, moving to a new city, or getting a ticket for careless driving can trigger price changes that can make some companies more affordable than the competition.
Not only may your risk profile change, but insurers change the rates they charge in Hawaii every year or even multiple times each year as an adjustment for underwriting gains or losses. Higher than normal claims can result in price increases, while lower claims can produce more affordable Honolulu car insurance rates.
To help illustrate this point, the bar chart below shows which company has the cheapest car insurance in Honolulu, HI for a 40-year-old male driver with a clear driving record, no claims, and a good credit rating. Based on his current situation, USAA may offer the most affordable car insurance rates in Honolulu at $974 per year. This is $622 less than the average policy premium paid by Hawaii drivers of $1,596. State Farm, GEICO, Liberty Mutual, and Progressive round out the rest of the top five cheapest Honolulu, HI auto insurance companies.
In the next rate comparison, we'll give the driver from the first set of rates an accident claim, bad credit, and a traffic citation. Since each insurance company has a proprietary formula to set premium rates, comparing quotes may result in a different set of the cheapest companies as shown below.
State Farm now has the best insurance rate in Honolulu, HI with USAA, GEICO, Liberty Mutual, and First of Hawaii now being in the top five. This shows why Hawaii drivers need to compare lots of rates to find the most economical insurance rates for drivers with good credit. Prices can be altered by many different factors and can change without notice, so the best option when you bought your policy may now be costing you a lot of money.
Tips for finding budget-friendly car insurance for drivers with good credit
The list below shows some of the better thrifty suggestions that can help drivers get more affordable car insurance.
- Full coverage is expensive so only insure older vehicles for liability only
- Pay lower rates with good credit
- Avoid having at-fault accidents
- Do not get traffic violations
- Higher comprehensive and collision coverage deductibles will save money
- Buy a vehicle with excellent safety ratings
- Compare prices as often as possible
The final tip is notably vital, as was affirmed in this article. Prices charged by companies in Honolulu go up and down frequently, so drivers shouldn't be resistant to switch companies if a better deal can be had.
Many drivers have brand loyalty and that's fine, but is isn't recommended if that faithfulness ends up costing you a small fortune year after year. In less than five minutes you could compare rates and find cheaper insurance for drivers with good credit.
If you aren't sure which coverage you need and prefer to have a professional recommendation when trying to find lower insurance rates for financially responsible drivers, the agents below can most likely aid you in deciding which policy is best.
To locate a Honolulu car insurance agency near you, click the button after the list or click here to compare price quotes.
Kevin Takahashi - State Farm Insurance Agent
1284 Kalani St d108 - Honolulu, HI 96817 - (808) 845-0069
Cynthia Leiko Frost - State Farm Insurance Agent
2038 S King St - Honolulu, HI 96826 - (808) 952-5353
Suzette Rudolf Trehern - State Farm Insurance Agent
7192 Kalanianaole Hwy g210 - Honolulu, HI 96825 - (808) 395-3434
Wil Chang - State Farm Insurance Agent
6700 Kalanianaole Hwy #204 - Honolulu, HI 96825 - (808) 395-5433