A recent insurance study discovered that over 70% of drivers kept their policy with the same company for at least four years, and nearly 40% of drivers have never shopped around. Consumers in Honolulu could save an average of roughly $400 each year just by shopping around, but they don’t understand how simple it is to shop around.
The preferred way to get cheaper car insurance rates in Honolulu is to compare quotes once a year from companies in Hawaii.
First, read and learn about what is in your policy and the modifications you can make to keep rates in check. Many things that increase rates like speeding and a negative credit score can be rectified by making minor changes to your lifestyle.
Second, obtain price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only quote rates from one company like Progressive and State Farm, while independent agents can quote rates from multiple insurance companies.
Third, compare the price quotes to your current policy premium to determine if you can save on NSX insurance in Honolulu. If you can save money, make sure coverage does not lapse between policies.
Fourth, give proper notification to your current agent or company to cancel your existing policy and submit a completed application and payment to your new insurance company. Once the paperwork is finalized, put the new proof of insurance paperwork in an easily accessible location.
The key thing to know about shopping around is to make sure you’re comparing the same amount of coverage on each quote request and and to get rates from as many different companies as possible. Doing this provides a fair rate comparison and the best price selection.
If you already have coverage or just want cheaper rates, you can use these techniques to save money without sacrificing coverage. Locating the best rates in Honolulu can really be easy if you know what you’re doing. Smart shoppers just have to learn the most efficient way to get comparison quotes from many companies at once.
Insurance Rate Influencing Factors
Multiple criteria are considered when you quote your car insurance policy. Most are fairly basic such as traffic violations, although others are less obvious such as your credit history or your vehicle rating.
The following are some of the major factors car insurance companies consider when setting your rate level.
- High performance equals high prices – The performance level of the vehicle you need insurance for makes a substantial difference in the rate you pay. The cheapest insurance rates are generally reserved for small economy passenger models, but many other things help determine your insurance rates.
- Safer vehicles means cheaper insurance – Safer cars tend to have better insurance rates. Safe vehicles protect occupants better and lower rates of occupant injuries translates into savings for insurance companies passed on to you as lower rates.
- High car insurance claims frequency drives up car insurance rates – Auto insurance companies in Hawaii award most affordable rates to drivers who only file infrequent claims. If you’re an insured who likes to file claims you can definitely plan on either higher rates or even cancellation. Your car insurance is designed for claims that pose a financial burden.
- Do you work long hours in a demanding job? – Do you have a high-stress occupation? Careers such as judges, airline pilots, and miners usually pay higher rates than average attributed to stressful work requirements and extremely grueling work hours. Conversely, professions such as farmers, athletes and the unemployed pay lower than average rates.
- Never let your car insurance policy lapse – Not having insurance can get your license suspended and you will pay a penalty because you let your insurance expire. Not only will rates go up, failure to provide proof of insurance can result in fines and jail time.
- Teen driver insurance prices – Youthful drivers in Hawaii are proven to be inattentive with other occupants in the car and because of this, their car insurance rates are much higher. Mature drivers are proven to be safer behind the wheel, cause fewer claims and accidents, and tend to be get fewer driving tickets.
Don’t neglect these discounts
Companies offering auto insurance do not list the complete list of policy discounts very clearly, so here is a list both well-publicized in addition to some of the lesser obvious credits available to lower your premiums when you buy Honolulu car insurance online.
- Paperwork-free – Some of the larger companies will give a small break for buying your policy on your computer.
- Federal Government Employee – Employees or retirees of the government could cut as much as 10% off with some auto insurance companies.
- Payment Discounts – By making one initial payment rather than paying monthly you could save up to 5%.
- Student Discount for Driver Training – Require your teen driver to successfully complete driver’s ed class in high school.
- Bundle and Save – If you have multiple policies with one company you could save at least 10 to 15 percent or more.
One thing to note about discounts is that most discount credits are not given to the overall cost of the policy. Most only reduce the price of certain insurance coverages like physical damage coverage or medical payments. Even though it may seem like you would end up receiving a 100% discount, you aren’t that lucky.
The best auto insurance companies and their offered discounts can be read below.
- State Farm includes discounts for multiple policy, anti-theft, safe vehicle, defensive driving training, multiple autos, and Drive Safe & Save.
- Nationwide may have discounts that include family plan, accident-free, anti-theft, easy pay, multi-policy, good student, and business or organization.
- GEICO policyholders can earn discounts including multi-vehicle, seat belt use, five-year accident-free, federal employee, and multi-policy.
- AAA offers discounts for good student, education and occupation, good driver, pay-in-full, multi-car, and anti-theft.
- 21st Century may include discounts for student driver, early bird, anti-lock brakes, air bags, teen driver, and automatic seat belts.
- The Hartford discounts include bundle, driver training, good student, vehicle fuel type, and defensive driver.
Check with each company to give you their best rates. Some discounts listed above might not be offered on policies everywhere. If you would like to see a list of insurance companies with significant discounts in Hawaii, click here to view.
Hawaii auto insurance companies ranked
Insuring your vehicle with the top car insurance provider is hard considering how many different companies there are to choose from in Hawaii. The rank data in the next section may help you decide which car insurance providers you want to consider to insure your vehicles.
Top 10 Honolulu Car Insurance Companies Ranked by Claims Service
- State Farm
- AAA Insurance
- Liberty Mutual
- The Hartford
- Farmers Insurance
Top 10 Honolulu Car Insurance Companies Ranked by Value
- American Family
- The Hartford
- State Farm
- AAA Insurance
- Liberty Mutual
Persistence pays off
We covered some good ideas how you can get a better price on Acura NSX insurance in Honolulu. The most important thing to understand is the more you quote Honolulu car insurance, the higher your chance of finding low cost Honolulu car insurance quotes. Consumers may even find the best auto insurance rates are with some of the lesser-known companies. Regional companies may cover specific market segments cheaper as compared to the big name companies such as Progressive and GEICO.
Low-cost Acura NSX insurance in Honolulu is possible from both online companies and with local Honolulu insurance agents, so you need to shop Honolulu car insurance with both in order to have the best chance of saving money. Some car insurance companies may not offer the ability to get a quote online and usually these regional insurance providers only sell coverage through local independent agents.
To read more, take a look at the resources below: