Are you regretting buying high-priced Toyota Camry insurance in Honolulu? Trust us when we tell you you are not the only one feeling buyer’s remorse.
It’s a fact that insurance companies don’t want their policyholders to compare prices. People who get price comparisons will probably buy a new policy because there is a significant possibility of finding a lower-cost company. A recent survey discovered that consumers who shopped around annually saved an average of $865 annually as compared to drivers who never shopped around for cheaper prices.
If finding the lowest price for auto insurance in Honolulu is your objective, then understanding the best way to shop and compare coverages can make it easier for you to save money.
Steps to finding affordable quotes for Toyota Camry insurance in Honolulu
The best way to get low-cost auto insurance rates is to compare prices annually from different companies that sell auto insurance in Honolulu. You can shop around by completing these steps.
Step 1: Try to understand individual coverages and the measures you can take to keep rates low. Many factors that cause high rates like at-fault accidents and a not-so-good credit history can be controlled by improving your driving habits or financial responsibility. Read the full article for ideas to help reduce prices and get discounts that may be overlooked.
Step 2: Quote rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can give quotes from one company like GEICO and State Farm, while independent agents can give you price quotes from multiple insurance companies.
Step 3: Compare the quotes to your current policy and see if there is a cheaper rate. If you find a better price and buy the policy, verify that coverage does not lapse between policies.
The critical component of shopping around is that you’ll want to compare similar limits and deductibles on every quote and and to get rates from every insurance company. This enables the most accurate price comparison and and a good selection of different prices.
Insurance companies such as GEICO and Progressive constantly blast consumers with fancy advertisements and consumers find it hard to ignore the promise of big savings and take the time to shop coverage around.
It’s smart to check car insurance prices occasionally since insurance rates change regularly. Just because you found the lowest rate on Toyota Camry insurance in Honolulu a couple years back you can probably find a lower rate today. Block out anything you think you know about car insurance because I’m going to teach you the best methods to remove unneeded coverages and save money.
If you have coverage now or need new coverage, use these tips to get lower rates while maintaining coverages. Buying the cheapest car insurance in Honolulu is much easier if you know where to start. Vehicle owners just have to use the most efficient way to compare different rates online.
Lower rates by qualifying for discounts
The cost of insuring your cars can be expensive, but there could be available discounts that many people don’t even know exist. A few discounts will automatically apply at the time of purchase, but a few must be specifically requested before you get the savings.
- Employee of Federal Government – Simply working for the federal government could cut as much as 10% off with a few insurance companies.
- Telematics Discount – Honolulu drivers who agree to allow driving data collection to scrutinize driving patterns by installing a telematics device such as Progressive’s Snapshot might get better premium rates if their driving habits are good.
- Discount for Life Insurance – If the company offers life insurance, you could get better premium rates if you take out a life insurance policy as well.
- Pay Now and Pay Less – By making one initial payment rather than paying monthly you can avoid the installment charge.
- Auto/Home Discount – If you have multiple policies and insure them with the same company you could get a discount of at least 10 to 15 percent or more.
- Save over 55 – Drivers that qualify as senior citizens may qualify for a small discount on rates.
- Paperwork-free – A handful of insurance companies give back up to $50 for signing up on their website.
- Home Ownership Discount – Being a homeowner may earn you a small savings since home ownership requires personal responsibility.
Don’t be surprised that most credits do not apply to the entire policy premium. Most only apply to specific coverage prices like liability and collision coverage. Despite the fact that it seems like all those discounts means the company will pay you, insurance companies wouldn’t stay in business.
The information below illustrates the comparison of Toyota Camry insurance prices with and without discounts. The prices are based on a male driver, no claims, a clean driving record, 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 multi-policy, homeowner, multi-car, marriage, safe-driver, and claim-free discounts applied.
To choose insurance companies who offer free Toyota Camry insurance quotes in Hawaii, follow this link.
How to lower your Toyota Camry insurance cost in Honolulu, HI
Most of the larger companies allow consumers to get pricing on the web. Getting Toyota Camry insurance prices online is quite easy as you simply enter the coverage amounts you desire into the quote form. After you complete the form, the quote system gets your driving and credit reports and quotes a price determined by many factors. Quoting online for Toyota Camry insurance in Honolulu helps simplify price comparisons, and it’s absolutely necessary to do this in order to find the cheapest price on auto insurance.
To quickly find out what other companies charge, compare rates from the companies below. If you have coverage now, it’s recommended you duplicate the coverages exactly as shown on your declarations page. Doing this guarantees you will have a rate comparison for the exact same coverage.
The providers in the list below can provide comparison quotes in Hawaii. If several companies are displayed, it’s highly recommended you compare several of them to get the lowest price.
The premium information displayed below outlines estimates of coverage costs for Toyota Camry models. Being able to understand how car insurance prices are determined can help guide drivers when making decisions when shopping your coverage around.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Above prices assume single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Hawaii minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Rates do not factor in your specific Honolulu location which can increase or decrease coverage rates considerably.
Should you raise deductibles?
One of the most common car insurance questions is how high or low should comp and collision deductibles be. The comparisons below illustrate the price difference of buying low and high policy deductibles. The first rate quote example uses a $250 comprehensive and collision deductible and the second price grid uses a $1,000 deductible.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Hawaii minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Premium amounts do not factor in Honolulu location which can influence auto insurance rates significantly.
Based on the figures above, using a $250 deductible will cost in the ballpark of $20 more each month or $240 every year than choosing the higher $1,000 deductible. Because you would be required to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you tend to average more than 38 months between claim filings, you would save money if you opt for a higher deductible. Here’s the way you can come to your own conclusion.
|Average monthly premium for $250 deductibles:||$83|
|Average monthly premium for $1,000 deductibles (subtract):||– $63|
|Monthly savings from raising deductible:||$20|
|Difference between deductibles ($1,000 – $250):||$750|
|Divide difference by monthly savings:||$750 / $20|
|Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible||38 months|
The information below highlights how deductible selection and can change Toyota Camry insurance rates for different age groups of insureds. The prices are based on a single female driver, full coverage, and no discounts are factored in.
Cost difference between full coverage and liability
The chart below shows the comparison of Toyota Camry premium costs with full physical damage coverage compared to only buying liability only. The premiums assume no claims or violations, $250 deductibles, single marital status, and no policy discounts are applied.
When to drop comp and collision
There isn’t a steadfast formula for phasing out physical damage insurance, but there is a guideline you can use. If the annual cost of having full coverage is about 10% or more of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.
For example, let’s pretend your Toyota Camry replacement value is $8,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would receive is $7,000 after paying your deductible. If premium cost is more than $700 annually for your policy with full coverage, then it may be the right time to buy liability only.
There are a few situations where dropping physical damage coverage is not a good plan. If you still have a lienholder on your title, you must maintain physical damage coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should not remove full coverage.
How Your Camry Insurance Premiums are Determined
Lots of factors are considered when you quote your car insurance policy. Some factors are common sense like a motor vehicle report, although some other factors are more obscure like your continuous coverage or how safe your car is.
The items below are a few of the things utilized by car insurance companies to help set rates.
Big cities mean more claims – Being located in areas with lower population is a positive aspect when it comes to auto insurance. Fewer drivers translates into fewer accidents as well as less vandalism and auto theft. Drivers in populated Hawaii areas have more road rage incidents and higher rates of accident claims. The longer drive time means higher likelihood of an accident.
Age of drivers impacts rates – Mature drivers tend to be more responsible, tend to cause fewer accidents, and get fewer tickets. Teenage drivers are proven to be easily distracted behind the wheel and because of this, their auto insurance rates are much higher.
The following data uses these assumptions: single driver, full coverage with $100 deductibles, and no discounts or violations.
Combine policies and save – Many insurance companies allow better rates to policyholders that purchase more than one policy, otherwise known as a multi-policy discount. Discounts can add up to ten or even up to twenty percent in some cases. Even though this discount sounds good, you may still want to compare Toyota Camry rates in Honolulu to ensure the best deal. It’s possible to still save even more even if you have your coverage with different companies
Higher prices for specific jobs – Did you know your job can affect your rates? Jobs like lawyers, architects, and financial analysts have the highest average rates because of high stress and extremely grueling work hours. Other occupations such as actors, students and performers receive lower rates.
Obey driving laws and save – Being a careful driver has a lot to do with how much you pay for insurance. Drivers who don’t get tickets receive lower rates than people who have multiple driving citations. Even a single chargeable violation can increase the cost of insurance forty percent or more. People who have careless violations like DUI or willful reckless driving might be required by their state to prove financial responsibility with their state DMV in order to prevent their license from being revoked.
The illustration below demonstrates how speeding tickets and accident claims can influence Toyota Camry auto insurance costs for each age group. The rate quotes are based on a married female driver, full coverage, $250 deductibles, and no other discounts are factored in.
Claims statistics for a Toyota Camry – Insurance companies include the past claim trends for vehicles to help determine the price you pay. Models that statistically have increased losses will cost more for coverage.
The table shown below demonstrates the historical insurance loss data for Toyota Camry vehicles. For each coverage category, the claim probability for all vehicles as a whole is set at 100. Values that are below 100 suggest a better than average loss history, while percentage values above 100 indicate more frequent claims or statistically larger losses.
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Toyota Camry Hybrid||124||100||110||118||127||96|
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
What is the best auto insurance coverage?
When buying a policy, there is no perfect coverage plan. Everyone’s situation is unique.
For example, these questions could help you determine if your situation might need an agent’s assistance.
- Where can I find DUI or SR-22 insurance?
- When should my teen driver be added to my policy?
- Will damage be repaired with OEM parts?
- Should I pay a claim out-of-pocket?
- What is an adequate liability insurance limit?
- Do I need replacement cost coverage?
- Is my cargo covered for damage or theft?
- Should I have a commercial auto policy?
If you don’t know the answers to these questions but a few of them apply, you might consider talking to an insurance agent. To find an agent in your area, fill out this quick form. It only takes a few minutes and can help protect your family.
When to contact an insurance agent
A lot of people still like to get professional advice from a licensed agent and that can be a great decision Agents can make sure you are properly covered and help submit paperwork. One of the great benefits of comparing car insurance online is the fact that you can find better rates and still buy from a local agent.
To help locate an agent, after submitting this short form, the quote information is submitted to agents in your area who will return price quotes and help you find cheaper coverage. It makes it easy because there is no need to contact any agents since price quotes are sent to you. If you have a need to get a comparison quote from a particular provider, just find their quoting web page and fill out their quote form.
Finding the right insurer requires you to look at more than just the premium amount. A good agent in Honolulu will have answers to these questions.
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
- Do you need full coverage on every vehicle?
- Do clients work directly with the agent or are most inquiries handled by a CSR?
- How many years of experience in personal auto insurance do they have?
- What will you get paid if your car is a total loss? How is that amount determined?
- Is the agency involved in supporting local community causes?
- Where would glass claims be handled in Honolulu?
What types of car insurance agents are in Honolulu?
If you are wanting to purchase car insurance from a reliable insurance agent, it’s helpful to know the different types of agents and how they can service your needs differently. Car insurance agents in Honolulu can either be independent (non-exclusive) or exclusive. Either type can properly insure your vehicles, but it’s worth mentioning the difference in the companies they write for because it can impact buying decisions.
Exclusive Insurance Agencies
Exclusive insurance agents work for only one company and some examples include American Family, State Farm, and Allstate. They are unable to compare other company’s rates so always compare other rates. These agents are well trained on what they offer which helps them sell insurance even at higher premiums.
Below are exclusive insurance agencies in Honolulu who may provide you with price quotes.
Independent Car Insurance Agents
Agents that elect to be independent do not have single company limitations so as a result can place your coverage with a variety of different insurance companies and possibly get better coverage at lower prices. To transfer your coverage to a different company, your agent can switch companies without you having to go to a different agency. If you are comparing car insurance prices, you definitely need to compare prices from a few independent agents so that you have a good selection of quotes to compare.
Shown below are independent insurance agencies in Honolulu that can give you rate quotes.
Car insurance protects more than just your car
Despite the fact that car insurance is not cheap in Honolulu, insuring your vehicle is not optional due to several reasons.
- The majority of states have compulsory liability insurance requirements which means you are required to buy specific minimum amounts of liability protection in order to get the vehicle licensed. In Hawaii these limits are 20/40/10 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a lien on your Camry, most lenders will make it mandatory that you buy insurance to guarantee their interest in the vehicle. If coverage lapses or is canceled, the bank or lender will purchase a policy for your Toyota at an extremely high rate and force you to pay for the much more expensive policy.
- Car insurance preserves your car and your assets. It will also provide coverage for medical transport and hospital expenses for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if you are sued as the result of your driving. If mother nature or an accident damages your car, your car insurance policy will pay to have it repaired.
The benefits of buying car insurance definitely exceed the price paid, especially for larger claims. An average driver in America is wasting up to $830 a year so compare rate quotes at every renewal to help ensure money is not being wasted.
Best auto insurance in Hawaii
Ending up with the top insurer can be difficult considering how many choices drivers have in Honolulu. The ranking information shown next could help you select which providers you want to consider comparing rates with.
Top 10 Honolulu Car Insurance Companies Ranked by Customer Service
- State Farm
- The Hartford
- American Family
- AAA Insurance
- Liberty Mutual
- Farmers Insurance
Top 10 Honolulu Car Insurance Companies by A.M. Best Rank
- USAA – A++
- State Farm – A++
- GEICO – A++
- Esurance – A+
- Nationwide – A+
- Allstate – A+
- Progressive – A+
- The Hartford – A+
- AAA Insurance – A
- Liberty Mutual – A
Smart consumers save more
Discount Toyota Camry insurance in Honolulu is available on the web and with local Honolulu insurance agents, so you need to shop Honolulu car insurance with both to have the best rate selection. Some companies do not provide the ability to get a quote online and most of the time these smaller providers only sell coverage through local independent agents.
We just showed you a lot of ways to reduce Toyota Camry insurance rates online in Honolulu. The key concept to understand is the more quotes you get, the better likelihood of getting inexpensive Honolulu car insurance quotes. Consumers could even find that the lowest rates are with the smaller companies.
As you shop your coverage around, never reduce coverage to reduce premium. There are a lot of situations where someone sacrificed comprehensive coverage or liability limits and found out when filing a claim that it was a big mistake. Your aim should be to purchase a proper amount of coverage at the best cost, not the least amount of coverage.
How to find the cheapest rates for Toyota Camry insurance in Honolulu
It takes a little time, but the best way to get low-cost Toyota Camry insurance is to start doing a yearly price comparison from different companies who sell auto insurance in Honolulu.
- First, read and learn about how insurance works and the changes you can make to lower rates. Many risk factors that cause rate increases like careless driving and an unfavorable credit rating can be eliminated by making minor changes in your lifestyle.
- Second, request price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only give rate quotes from a single company like GEICO or Farmers Insurance, while independent agents can quote prices for a wide range of companies. Select a company
- Third, compare the new rate quotes to your current policy premium and determine if cheaper Camry coverage is available in Honolulu. If you find a better price and make a switch, make sure coverage is continuous and does not lapse.
- Fourth, provide notification to your current company of your decision to cancel your current auto insurance policy and submit the required down payment along with the signed application to your new agent or company. Once coverage is bound, put the new certificate of insurance with the vehicle registration.
One key aspect when comparing rates is that you use the same level of coverage on every quote and and to compare as many companies as feasibly possible. This helps ensure the most accurate price comparison and plenty of rates choose from.
To read more, take a look at the following helpful articles:
- How to Avoid Common Accidents (State Farm)
- Who Has Cheap Auto Insurance Rates for a Subaru Outback in Honolulu? (FAQ)
- Who Has the Cheapest Auto Insurance for a Honda Civic in Honolulu? (FAQ)
- Who Has Affordable Honolulu Auto Insurance for Used Cars? (FAQ)
- Who Has the Cheapest Honolulu Auto Insurance for a Honda Accord? (FAQ)
- What Auto Insurance is Cheapest for College Graduates in Honolulu? (FAQ)
- How Much are Car Insurance Rates for a Toyota 4Runner in Honolulu? (FAQ)
- Who Has Affordable Car Insurance Quotes for Drivers Under 25 in Honolulu? (FAQ)
- Eight Auto Insurance Myths (Insurance Information Institute)
- Collision Insurance Coverage (Nationwide)
- Insurance losses by make and model (Insurance Institute for Highway Safety)
- Collision Coverage (Liberty Mutual)