Trying to buy cost effective auto insurance is tough enough, and finding out which companies quote the most affordable car insurance rates for homeowners involves a little more work.
Each insurer has a different process to determine premium rates, so we’ll take a look at the car insurance companies with the most affordable rates in Honolulu, HI. It’s important to know that Honolulu, HI car insurance rates are impacted by many things which can significantly increase or decrease the price you pay for coverage. Events like turning one year older, moving across town, or getting into an accident can cause premium changes that can now make some companies more expensive than others.
Find the Best Cheap Insurance for Homeowners
USAA generally has some of the lowest car insurance rates in Honolulu at around $926 annually. This is $670 less than the average rate paid by Hawaii drivers of $1,596. State Farm, GEICO, Liberty Mutual, and Progressive are also some of the more affordable Honolulu, HI auto insurance companies.
In the above rates, if you buy coverage from Liberty Mutual and switched to State Farm, you may realize savings of around $312. Hawaii drivers with Progressive might save as much as $451 a year, and Allstate insureds might reduce prices by as much as $797 a year.
To find the cheapest rates for your vehicle, click here to start your free quote or click through to the companies below.
It’s important to note that these rates are averaged for all types of insureds and vehicles and do not take into consideration a specific zip code for homeowners. So the company that has the cheapest price for you may not even be in the list above. That illustrates why you need to get car insurance quotes using your own personalized driver profile and vehicle information.
For people who own their homes, one of the more important criteria that are used to help calculate the amount you pay for auto insurance is where your car is garaged. Areas with increased crime or more people are more likely to pay higher prices, whereas less populated areas have the benefit of cheaper auto insurance prices.
The information below sorts the most expensive areas in Hawaii for homeowners to purchase car insurance in. Honolulu is ranked at #19 with an annual premium of $1,016 for car insurance, which is about $85 monthly.
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Prices are comparative as the specific garaging location can decrease or increase insurance rates greatly.
The car, truck, or SUV you are seeking coverage for is probably the most important factor when looking for the lowest-priced auto insurance for homeowners. Vehicles with higher performance, a lack of modern safety features, or a high likelihood of having liability claims will cost more to insure than more modest models.
The data below illustrates auto insurance prices for the most affordable vehicles to insure.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape Limited 2WD||$845|
|Volkswagen Jetta S 2.5 Station Wagon||$894|
|Chevrolet Malibu Hybrid||$977|
|Chevrolet Equinox LT 2WD||$986|
|Toyota Tacoma Double Cab 4WD||$995|
|Hyundai Elantra Blue 4-Dr Sedan||$1,010|
|Toyota Camry XLE||$1,028|
|Honda CR-V EX-L 2WD||$1,037|
|Chevrolet Silverado Crew Cab Hybrid 2WD||$1,096|
|Chevrolet Impala LS||$1,104|
|Ford Focus SES 2-Dr Coupe||$1,098|
|Honda Odyssey LX||$1,111|
|Kia Optima EX||$1,117|
|Chevrolet Silverado 3500HD LT Crew Cab Diesel 2WD||$1,133|
|Ford F-150 XLT Crew Cab 4WD||$1,138|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$1,147|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$1,160|
|Toyota RAV4 Limited 4WD||$1,195|
|GMC Sierra SLT Extended Cab 4WD||$1,197|
|Ford Fusion SEL 4-Dr Sedan||$1,207|
|Chevrolet Silverado 2500HD LT Crew Cab 4WD||$1,197|
|Dodge Ram Quad Cab SLT 4WD||$1,220|
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Premium data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Hawaii minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Price estimates do not factor in specific garaging location which can increase or decrease insurance rates considerably.
Based upon these rates, we can assume that makes and models like the Ford Escape, Volkswagen Jetta, Chevrolet Malibu, and Chevrolet Equinox are going to be a few of the most economical vehicles to insure for people who own their homes.
Accidents and violations increase rates
The easiest way to obtain low car insurance rates in Honolulu for people who own their homes is to drive safe and avoid traffic citations and accidents. The information below illustrates how speeding tickets and accidents impact auto insurance costs for each age group. The premiums assume a single female driver, full coverage, $250 deductibles, and no discounts are applied.
In the chart above, the average cost of a car insurance policy in Honolulu per year with a clean driving record and no accidents is $1,463. Add in one speeding ticket and the average cost hikes up to $1,657, an increase of $193 each year. Now get one accident along with the one speeding ticket and the yearly cost of car insurance for homeowners increases to an average of $2,201. That’s an increase of $738, or $61 per month, just for not being more responsible behind the wheel!
Discount Honolulu insurance rates
Insurance providers that provide policies for homeowners may also provide policy discounts that could reduce prices by 25% or more if you qualify for them. A few popular companies and their possible discounts are:
- GEICO has discounts for emergency military deployment, driver training, membership and employees, military active duty, five-year accident-free, anti-theft, and federal employee.
- MetLife policyholders can earn discounts including claim-free, multi-policy, good student, defensive driver, and accident-free.
- Progressive may offer discounts for homeowner, online quote discount, online signing, good student, and continuous coverage.
- Travelers may include discounts for hybrid/electric vehicle, multi-car, IntelliDrive, student away at school, new car, payment discounts, and driver training.
- SAFECO discounts include teen safety rewards, accident prevention training, homeowner, anti-lock brakes, safe driver, and bundle discounts.
- AAA includes discounts for education and occupation, AAA membership discount, good student, multi-policy, pay-in-full, and anti-theft.
The diagram below illustrates the difference between yearly insurance costs with and without discounts applied. The data assumes a male driver, no accidents or driving violations, Hawaii state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with vehicle safety, multiple vehicle, anti-theft, accident-free, safe-driver, and defensive driving course discounts applied. When drivers take advantage of discounts, the average savings per year on car insurance for homeowners is 27% or $419.
How to find economical auto insurance for homeowners
Lowering your rates is not difficult, and here are many penny-pinching ideas that can help drivers find cheap coverage.
- Being accident-free can lower rates significantly
- Raise physical damage deductibles
- Drive safe vehicles
- Full coverage may not be needed on older vehicles
- Drivers with good credit ratings often pay less
- Avoid getting citations and tickets
- Compare prices as often as possible
That last tip is especially crucial, as we hit on in this piece. Car insurance prices can be changed at any time, so don’t be hesitant to switch carriers if a better deal can be had.
Loyalty to a specific company is fine, but it isn’t a good idea if your bullheadedness ends up costing you several hundred dollars every year. Now is a great time to compare rates to find cheaper insurance for homeowners in Honolulu.
The agents listed below are willing to help you determine which coverages and limits you need, as some drivers wish to have some advice when buying car insurance for people who own their homes. It can be challenging to find the cheapest rates, and getting professional guidance from a licensed agent can add peace of mind knowing your coverage gives you enough coverage if you have a claim.
To find a Honolulu insurance agency by location nearest to you, click the button at the bottom of the list.
Cavanah Associates, Inc.
1100 Alakea St #2600 – Honolulu, HI 96813 – (808) 537-1970
Scott Saito – State Farm Insurance Agent
1150 S King St #901d – Honolulu, HI 96814 – (808) 946-8464
Sue Ann Lu – State Farm Insurance Agent
210 Ward Ave #116 – Honolulu, HI 96814 – (808) 587-6116
Wil Chang – State Farm Insurance Agent
6700 Kalanianaole Hwy #204 – Honolulu, HI 96825 – (808) 395-5433