The words “affordable” and “auto insurance” really shouldn’t be used together, in particular when you are searching for the best car insurance rates for 4×4 vehicles. Let’s learn about some things that determine auto insurance rates, and see if you can cut the cost of the next policy you buy.
For off-road vehicles, one of the big components that help determine car insurance rates is where you choose to live in Honolulu. Larger areas will most likely have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims have the benefit of cheaper car insurance.
The following table shows the highest-priced areas in Hawaii for 4×4 vehicles to purchase car insurance in. Honolulu is listed at #20 with an annual rate of $1,005 on average, which is about $84 per month.
|Rank||City||Average Per Year|
|Find Cheaper Rates Go|
Premium amounts are approximated as the specific Honolulu residence address can modify rates substantially.
Determining which company offers the most affordable car insurance rates for 4×4 vehicles involves more work in order to find the lowest price quote. Each insurer has their own guidelines for setting prices, so we need to take a look at the car insurance companies with the overall cheapest rates in Honolulu.
We do need to point out that Hawaii car insurance rates are determined by lots of factors that can increase the price you have to pay. Simply having a birthday, buying another vehicle, or having an at-fault accident may prompt premium changes that can cause some rates to be cheaper than before.
Find the Cheapest Car Insurance for 4×4’s
|Rank||Company||Cost Per Year|
|7||First of Hawaii||$1,987|
|Quote Your Rates Go|
USAA quotes some of the most affordable car insurance rates in Honolulu at around $954 each year. This is $642 less than the average policy premium paid by Hawaii drivers of $1,596. State Farm, GEICO, Liberty Mutual, and Progressive are also some of the most economical Honolulu, HI auto insurance companies.
As depicted above, if you currently have coverage with Liberty Mutual and switched to USAA, you may realize an annual savings of in the vicinity of $510. Hawaii drivers with Progressive could save as much as $654 a year, and Allstate customers might see rate reductions of $972 a year.
It’s important to note that these premium estimates are averaged across all drivers and vehicles and are not factoring in a specific vehicle garaging location for 4×4 vehicles. So the car insurance company that fits you best may not even be in the list above. That affirms the importance of why you need to get rate quotes using your own specific driver and vehicle information.
The information below demonstrates how choosing different deductibles can affect insurance rates when trying to find cheap insurance for 4×4 vehicles. The data is based on a married male driver, full coverage, and no discounts are taken into consideration.
The data above shows that a 50-year-old driver could pocket $250 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $376 by choosing a $1,000 deductible. Even younger drivers, like the age 20 example, could reduce their rates as much as $838 or more just by choosing higher deductibles.
If you make the decision to raise deductibles, it will be necessary to have emergency funds available to satisfy the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
Full coverage versus liability only rates
Paying less for car insurance is the goal of the majority of vehicle owners, and a great way to save on the cost of insurance for 4×4 vehicles is to not buy full coverage. The illustration below visualizes the comparison of car insurance costs with full physical damage coverage and with liability coverage only. The rate quotes are based on no accidents or driving violations, $1,000 deductibles, marital status is single, and no discounts are applied to the premium.
If we average all the age groups together, full coverage on your policy costs an additional $1,118 per year more than just buying liability insurance. That brings up the question if paying for full coverage is worth it. There is no set guideline for phasing out comp and collision coverage, but there is a guideline you can use. If the annual cost of your full coverage insurance is more than around 10% of the replacement cost minus the deductible, then it may be the right time to buy liability only.
For example, let’s pretend your vehicle’s replacement cost is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would get paid by your company is $5,000 after paying your deductible. If you are paying more than $500 annually for your policy with full coverage, then you might want to consider buying only liability coverage.
Impact of careless driving on car insurance rates
The common sense way to snag good car insurance rates for off-road vehicles is to be a careful driver and have a clean driving record. The information below illustrates how violations and at-fault collisions increase auto insurance costs for each different age category. Data assumes a single male driver, comprehensive and collision coverage, $100 deductibles, and no other discounts are factored in.
In the prior example, the average cost of an auto insurance policy in Honolulu per year with no accidents and a clean driving record is $2,038. Receive one speeding ticket and the average cost increases to $2,295, an increase of $257 each year. Next add one accident along with the one speeding ticket and the 12-month cost of car insurance for 4×4 vehicles increases to an average of $3,031. That’s an increase of $993, or $83 per month, just for not driving attentively!
How to find low-cost car insurance for 4×4 vehicles
The list below shows many money-saving suggestions that can help Hawaii drivers get cheaper coverage.
- Clean up your credit rating
- Insure your home and auto with the same company
- Don’t waste money on full coverage for older vehicles
- Having at-fault accidents will increase rates
- Vehicles with safetly features generally cost less to insure
- Ensure you have the best deal by shopping around regularly
That last tip is certainly necessary, as we hit on in this piece. Insurance rates in Honolulu can be changed at any time, so don’t be hesitant to change insurance companies if a more affordable rate is found.
Having brand loyalty is commendable, but it’s not recommended if that stubbornness costs you thousands of dollars over the life of your policy. Now is a great time to compare prices and find cheaper car insurance for 4×4 vehicles.
The Honolulu auto insurance agencies shown below can answer your questions and help you decide which coverages you need, as some people prefer to have the advice of a professional agent when shopping for cheaper insurance for 4×4 vehicles. It can be complicated to find the cheapest car insurance policy, and insurance agents can bring comfort knowing your policy gives you enough protection. To find an agent in your neighborhood, click the button following the list or click here to compare rates now.
Pyramid Insurance Center Ltd
420 Waiakamilo Rd – Honolulu, HI 96817 – (808) 527-7667
Island Insurance Hawaii
1022 Bethel St – Honolulu, HI 96813 – (808) 643-4000
State Farm Insurance: Shelli Toguchi-Hadley
4510 Salt Lake Boulevard Unit D15 – Honolulu, HI 96818 – (808) 486-1111
Kelly Harada – State Farm Insurance Agent
1221 Kapiolani Blvd #1015 – Honolulu, HI 96814 – (808) 593-9288
1440 Kapiolani Blvd # 950 – Honolulu, HI 96814 – (808) 942-5353