The words “economical” and “insurance” really should not be used together, especially when you are trying to find the cheapest auto insurance with multiple speeding tickets. To help control this cost, let’s familiarize you with a few of the factors the can have a considerable influence on insurance rates, and find out if you can reduce the price of the next policy you buy.
The type of vehicle that needs insurance is one of the biggest factors that determines whether or not you find the most affordable insurance with multiple speeding tickets. Vehicles with more horsepower, poor passenger safety features, or a history of substantial liability claims will cost significantly more to insure than more economical and safe models.
The next table presents insurance prices for a handful of the more affordable vehicles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$1,353|
|GMC Sierra SL Extended Cab 2WD||$1,452|
|Chevrolet Equinox LS AWD||$1,457|
|Jeep Grand Cherokee Laredo 4WD||$1,452|
|Toyota RAV4 Limited 2WD||$1,458|
|Ford Escape Limited 2WD||$1,456|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$1,479|
|Chevrolet Malibu LT||$1,486|
|Ford F-150 XL Regular Cab 4WD||$1,513|
|Honda Odyssey Touring||$1,559|
|GMC Sierra 2500HD SLE Regular Cab 4WD||$1,565|
|Dodge Grand Caravan Crew||$1,631|
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Table data represents single female driver age 30, two speeding tickets, no at-fault accidents, $1,000 deductibles, and Hawaii minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, and multi-vehicle. Rates do not factor in garaging location in Honolulu, HI which can influence insurance rates substantially.
Based upon the rates shown, we can tell that makes and models like the Honda CR-V, GMC Sierra, Chevrolet Equinox, and Jeep Grand Cherokee will definitely be the most affordable vehicles to insure after a few driving violations.
After a few driving violations, one of the more important considerations that determine the annual cost of car insurance is your zip code in Honolulu. Cities with more crime and/or more people will most likely have higher rates, whereas less populated areas have the enjoyment of a little cheaper coverage.
The next table shows the priciest cities in Hawaii with multiple speeding tickets in which to buy car insurance. Honolulu ranks #7 costing $1,047 for the average policyholder, which is about $87 monthly.
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Premium costs are comparative as the specific zip code location can influence coverage prices significantly.
Finding good, low-cost car insurance is not the easiest thing to do, and finding out which companies quote the most affordable auto insurance rates with multiple speeding tickets may require even more diligence. Every insurance provider uses their own method to establish rates, so we’ll go over the lowest cost auto insurance companies in Honolulu, HI.
We do need to point out that Honolulu auto insurance rates are impacted by many factors which can substantially change the price you have to pay for coverage. This price variation is why drivers need to shop around with many companies to get affordable car insurance rates with multiple speeding tickets. Insurance prices can be determined by many factors and can change substantially, so the most affordable company the last time you compared rates may now be an over-priced policy.
Find Cheaper Auto Insurance with License Points
USAA quotes some of the best car insurance rates in Honolulu at around $926 per year. State Farm, GEICO, Liberty Mutual, and Progressive also make the cut as some of the cheaper Honolulu, HI insurance companies.
As the rates illustrate above, if you currently have a policy with State Farm and switched to USAA, you could earn a yearly price reduction of in the neighborhood of $183. Drivers with GEICO may save as much as $422 a year, and Liberty Mutual policyholders might lower prices by $523 a year.
Be aware that those premium estimates are averages for all drivers and vehicles and do not factor in an exact zip code location with multiple speeding tickets. So the car insurance company that can offer you the best rate may not even be in the list above. That helps illustrate why you need to compare rates from multiple companies using your own driver data and vehicle information.
Cost comparison with and without full coverage
Saving money when shopping for auto insurance should be important to the majority of people, and one of the best ways to save on the cost of insurance with multiple speeding tickets is to not insure for full coverage. The information below illustrates the comparison of insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Hawaii. The data assumes no driving violations, no at-fault accidents, $100 deductibles, single status, and no discounts are applied.
If we average the cost for ages 20 through 70, full coverage on your policy costs $1,523 per year over and above liability only. That touches on the question when is the right time to remove full coverage. There is no definitive rule of when to drop full coverage, but there is a general convention. If the yearly cost of full coverage is more than 10% of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
The diagram below shows how different deductible levels can raise or lower insurance rates when getting quotes for cheap insurance with multiple speeding tickets. The premium estimates are based on a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
The data above shows that a 40-year-old driver could reduce rates by $180 a year by increasing from a $100 deductible up to a $500 deductible, or save $272 by switching to a $1,000 deductible. Younger drivers, like the Age 20 category, could possibly save $450 or even more just by using higher deductibles. If you do raise deductibles, it will be important to have plenty of discretionary funds to offset the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
How to find the cheapest insurance with multiple speeding tickets
Below you’ll find some penny-pinching suggestions that can help Honolulu drivers locate lower-cost coverage.
- Avoid at-fault accidents and claims
- Choose a safer vehicle and pay lower rates
- Do not get tickets
- Increase your physical damage deductibles
- Higher credit scores may earn you cheaper rates
- Shop around for cheaper prices
The final tip is notably vital, as was stressed in this article. Prices can change in a short period of time, so drivers shouldn’t be resistant to buy from a different company if a cheaper price is available. Sticking with a specific company is fine, but it’s not a good idea if that loyalty ends up costing a lot of money. Spend a few minutes and shop around to find cheaper car insurance with multiple speeding tickets in Honolulu.
If you would rather have the advice of a professional agent when comparing insurance rates after a few driving violations, the insurance agencies below can answer your questions and help you decide which coverages are best. To find an agent near you, click the link at the bottom or click here to compare rates now.
John H Connors Insurance
500 Ala Moana Blvd # 2303 – Honolulu, HI 96813 – (808) 534-7300
Royal State National Insurance Company
819 S Beretania St – Honolulu, HI 96813 – (808) 539-1600
Pyramid Insurance Center Ltd
420 Waiakamilo Rd – Honolulu, HI 96817 – (808) 527-7667
Allstate Insurance: Thomas Choi
1130 N Nimitz Hwy Rm A260 – Honolulu, HI 96817 – (808) 664-0970