One of the many things that are used to help calculate the annual cost of car insurance is your address in Honolulu. Regions with larger populations or more claims are more likely to pay higher prices, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower rates.
The next table rates the highest-priced places in Hawaii to purchase car insurance in. Honolulu shows up at #20 with the yearly price of $1,005 for the average policy, which is about $84 monthly.
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Table data uses estimated as the specific Honolulu residence address can affect auto insurance rates considerably.
Now that we understand where Honolulu ranks compared to other Hawaii cities, finding dependable, low-priced insurance is tough enough, and figuring out which companies offer the most affordable insurance rates in Honolulu involves even more rate comparisons. Each insurance company has a different process for setting prices, so we’ll take a look at the insurance companies that tend to have lower prices in Honolulu.
Cheapest Insurance Rates in Honolulu
|Rank||Company||Cost Per Year|
|7||First of Hawaii||$1,987|
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USAA has some of the best car insurance rates in Honolulu at around $954 per year. This is $642 less than the average policy premium paid by Hawaii drivers of $1,596. State Farm, GEICO, Liberty Mutual, and Progressive also make the cut as some of the most economical Honolulu, HI car insurance companies.
As shown in the table above, if you have coverage with Liberty Mutual and switched to State Farm, you might realize a yearly savings of in the neighborhood of $330. Insureds with Progressive may save as much as $500 a year, and Allstate insureds might lower prices by $830 a year.
To discover how much you can save, click here to get a free quote or click through to the companies below.
It’s important to note that these premium estimates are averages for all types of drivers and the different vehicles they drive and do not factor in an exact location in Honolulu. So the insurer that can offer the best rates for your situation may not even be in the list above. That’s why you need to get rate quotes using your own personal information and vehicle type.
The make and model of vehicle that needs insurance is probably the largest consideration when shopping for economical car insurance in Honolulu. Vehicles with economical engines, a plethora of safety features, or a low likelihood of having liability claims will cost quite a bit less to insure than adrenaline junky models.
The next list estimates insurance prices for the most cost-effective automobiles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$857|
|Honda Accord LX 4-Dr Sedan||$864|
|Honda Odyssey EX||$994|
|Volkswagen Jetta 2.0T Station Wagon||$1,000|
|Hyundai Elantra SE 4-Dr Sedan||$1,065|
|Toyota Camry SE||$1,072|
|Honda CR-V EX-L 4WD||$1,074|
|Ford Explorer XLT 4WD||$1,101|
|GMC Sierra 3500HD SLE Extended Cab 2WD||$1,105|
|Ford Focus SES 2-Dr Coupe||$1,139|
|Honda Civic DX 4-Dr Sedan||$1,141|
|Kia Optima SX||$1,158|
|Toyota RAV4 Limited 4WD||$1,162|
|Chevrolet Equinox LT AWD||$1,171|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$1,185|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$1,192|
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Price data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Hawaii minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Information does not factor in garaging location in Honolulu, HI which can revise premiums noticeably.
Looking at the data, you can presume that cars like the Ford Escape, Honda Accord, Toyota Prius, and Honda Odyssey will be a few of the cheapest vehicles to insure for drivers in Honolulu.
Rate comparison of full coverage and liability-only
Reducing premiums for car insurance is important to most people, and a great way to pay lower rates for insurance in Honolulu is to buy only liability coverage. The diagram below compares insurance costs with full physical damage coverage and with liability coverage only. The price estimates are based on no claims or violations, $100 deductibles, single status, and no other discounts are factored in.
If the expense is averaged for all age categories, physical damage coverage costs an extra $2,038 per year more than just buying liability insurance. That may make you wonder if it’s worth it to buy full coverage. There is no definitive guideline for dropping comp and collision coverage, but there is a guideline you can consider. If the annual cost of coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s say your vehicle’s claim settlement value is $9,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company would pay you is $8,000 after you pay the deductible. If you are paying more than $800 a year for your policy with full coverage, then you may want to consider only buying liability coverage.
Safe drivers pay less for car insurance
The obvious way to find low car insurance prices for drivers in Honolulu is to be a safe driver and not get tickets or have accidents. The chart below highlights how traffic violations and at-fault collisions drive up insurance costs for each age group. The price estimates are based on a married male driver, comprehensive and collision coverage, $1,000 deductibles, and no additional discounts are factored in.
In the example above, the average cost of car insurance in Hawaii per year with no accidents or violations is $1,282. Factor in two speeding tickets and the average cost increases to $1,758, an increase of $476 each year. Next add one accident along with the two speeding tickets and the annual cost of car insurance in Honolulu jumps again to an average of $2,246. That’s an increase of $964, or $80 per month, just for not being a responsible driver!
Get discount Honolulu insurance
Car insurance companies that sell policies in Honolulu may have discounts that could lower prices by 25% or more if you meet the requirements. A list of car insurance companies and some of the discounts can be read below.
- GEICO offers discounts including air bags, good student, military active duty, multi-vehicle, and five-year accident-free.
- Travelers includes discounts for driver training, continuous insurance, good student, multi-car, and hybrid/electric vehicle.
- Nationwide policyholders can earn discounts including anti-theft, defensive driving, easy pay, accident-free, and Farm Bureau membership.
- Farmers Insurance may have discounts that include youthful driver, homeowner, bundle discounts, teen driver, switch companies, and multi-car.
- Esurance may include discounts for renters, anti-lock brakes, paid-in-full, homeowner, anti-theft, good student, and defensive driver.
- State Farm may offer discounts for good student, multiple policy, anti-theft, Steer Clear safe driver discount, good driver, and Drive Safe & Save.
- Progressive offers discounts for good student, multi-vehicle, continuous coverage, online signing, multi-policy, online quote discount, and homeowner.
- Mercury Insurance discounts include good driver, multi-car, accident-free, multi-policy, good student, annual mileage, and low natural disaster claims.
The chart below illustrates the difference between annual premium costs with and without discounts applied to the rates. The premiums are based on a female driver, no driving violations, no at-fault accidents, Hawaii state minimum liability limits, comp and collision included, and $250 deductibles.
The first bar for each age group shows premium with no discounts. The second shows the rates with multiple policy, safe-driver, multiple vehicle, claim-free, marriage, and anti-theft discounts applied. When drivers qualify for the discounts, theaverage amount saved on car insurance in Honolulu is 28% or $365.
Who has the cheapest Honolulu car insurance?
Honolulu car insurance rates are impacted by many factors which can substantially decrease or increase your annual premium. Simply turning a year older, moving to a new city, or getting a ticket for careless driving may generate price changes that may make certain companies cheaper than competitors.
Not only may your situation change, but companies change the rates they charge in Hawaii every year to reflect underwriting profits or losses. Larger than normal claims may result in increased policy costs, while lower claims may cause cheaper Honolulu car insurance rates.
The chart below compares the cheapest car insurance in Honolulu, HI for a 45-year-old male driver with no accidents or violations, and good credit. If we compare prices based on his current situation, USAA offers the best car insurance rates in Honolulu at $1,003 each year. This is $593 less than the average policy premium paid by Hawaii drivers of $1,596. State Farm, GEICO, Liberty Mutual, and Progressive are also on the list of the most affordable Honolulu, HI auto insurance companies.
Now we will pretend the driver from the above example a claim surcharge, slightly worse credit, and an imperfect driving record. Since each auto insurer has their own process for determining rates, getting updated rate quotes will most likely result in a slightly different list of affordable Honolulu car insurance companies as shown below.
State Farm now has the best price on car insurance in Honolulu, HI with USAA, Liberty Mutual, GEICO, and Allstate now being in the top five. This example illustrates why it is critical to take the time to shop around to get the lowest auto insurance quotes in Honolulu.
Rates can be determined by many risk factors and can change substantially, so the best option the last time you compared rates may now be wasting a lot of money.
The Honolulu car insurance agencies listed below are willing to aid you in deciding which auto insurance policy would work best for you, as lots of drivers aren’t clear which coverage they need and would like to have professional advice when shopping around for cheaper insurance in Honolulu. It can be hard to find the best policy yourself, so getting professional guidance from a licensed agent can give you comfort knowing your coverage gives you adequate coverage when you need it most.
To locate a Honolulu insurance agent closest to you, click the button after the list or click here to compare price quotes now.
John H Connors Insurance
500 Ala Moana Blvd # 2303 – Honolulu, HI 96813 – (808) 534-7300
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
Sean Huh – State Farm Insurance Agent
23 S Vineyard Blvd #205 – Honolulu, HI 96813 – (808) 528-0001
How to find cheaper insurance in Honolulu
Here are some of the recommended money-saving ideas that can help Honolulu drivers locate cheap coverage.
- Increase your physical damage deductibles
- You will pay more if you get tickets or have at-fault accidents
- Drivers with good credit ratings often pay less
- Buy a car with high safety ratings
- Maintain a safe distance and avoid accidents
- Shop around for cheaper prices
The last tip in the list is very important, as we pointed out in the prior article. Coverage rates fluctuate constantly, so you should be ready to switch to a new company if a lower-cost policy is available.
Brand loyalty is great, but it’s not a great idea if that stubbornness costs you hundreds of dollars a year. In just a couple of minutes you could shop around and find cheaper insurance in Honolulu in Honolulu.