Truthfully, the best way to find low-cost prices for car insurance rates is to begin comparing prices regularly from different companies who sell auto insurance in Honolulu.
- Try to understand the coverage provided by your policy and the modifications you can make to drop your rates. Many rating criteria that are responsible for high rates like getting speeding tickets and a bad credit score can be controlled by making minor driving habit or lifestyle changes.
- Obtain price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only provide price estimates from one company like GEICO or Farmers Insurance, while independent agents can provide prices for many different companies. Compare rates
- Compare the quotes to your existing coverage to see if you can save by switching companies. If you can save some money, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Provide notification to your current company of your decision to cancel your current auto insurance policy. Submit any necessary down payment along with the completed application to your new company or agent. Once coverage is bound, place your new proof of insurance certificate along with the vehicle’s registration papers.
An essential thing to point out is to try to use the same coverage limits and deductibles on each quote request and and to get price estimates from as many car insurance companies as possible. This ensures an apples-to-apples comparison and many rates to choose from.
Remarkably, a study showed that 70% of consumers kept their policy with the same company for over three years, and virtually 40% of consumers have never quoted rates to find cheaper coverage. American drivers could pocket up to 46.5% a year by just shopping around, but they feel it’s too difficult to shop around.
If you have a current auto insurance policy, you will surely be able to lower your rates using the techniques presented in this article. Finding the cheapest auto insurance coverage in Honolulu is really quite simple as long as you have a good starting point. But Hawaii drivers benefit from understanding the way companies calculate their prices and use this information to your advantage.
Smart Consumers Save Every Year
Many things are considered when you quote your car insurance policy. Some are obvious like an MVR report, but other criteria are not quite as obvious such as your credit history or how safe your car is. Smart consumers have a good feel for a few of the rating criteria that help determine car insurance rates. If you know what impacts premium levels, this allows you to make educated decisions that can help you get lower car insurance prices.
The factors shown below are a partial list of the pieces car insurance companies consider when setting prices.
GPS tracking and theft deterrents reduce rates – Owning a car with anti-theft technology or alarm system can save you a little every year. Advanced theft deterrents like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all aid in stopping your car from being stolen.
Be proud to be claim-free – Auto insurance companies in Hawaii provide the best rates to insureds who are claim-free. If you frequently file small claims, you can pretty much guarantee much higher rates or policy non-renewal. Insurance coverage is intended to be relied upon for claims that you cannot pay yourself.
Your location is a factor – Having an address in a rural area is a good thing when trying to find low car insurance rates. City drivers tend to have more aggressive driving styles and a longer drive to work. Fewer drivers and short commutes translates into fewer accidents and also fewer theft and vandalism claims.
Lower rates for safer cars – Cars with five star safety ratings tend to have lower insurance rates. Highly rated vehicles help reduce the chance of injuries in an accident and better occupant protection means lower claim amounts and more competitive rates for policyholders. If the Mercedes-Benz E350 has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website you may pay a lower rate.
Physical damage deductibles are a factor – The deductibles you choose are the amount of money you are willing to pay if a covered claim is submitted. Physical damage insurance, also known as collision and other-than-collision, covers damage that occurs to your car. Examples of some claims that would be covered are a windshield broken by a bird, vandalism, or theft of your vehicle. The larger the amount you are required to pay out-of-pocket, the lower your rates will be.
Quote Honolulu Mercedes-Benz E350 insurance online
Just remember that obtaining a wide range of quotes increases your odds of finding better pricing. Not every company allows you to get Honolulu E350 insurance quotes online, so it’s important to also get quotes from them as well.
The car insurance companies shown below provide free quotes in Hawaii. If the list has multiple companies, we suggest you get rate quotes from several of them in order to get a fair rate comparison.
Data for Mercedes-Benz E350 insurance
The information displayed below covers a range of coverage costs for Mercedes-Benz E350 models. Understanding how insurance policy premiums are formulated can help drivers make decisions when shopping your coverage around.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|E350 2-Dr Coupe||$190||$438||$232||$14||$70||$944||$79|
|E350 4-Dr Sedan||$210||$392||$180||$10||$54||$846||$71|
|E350 with 4-MATIC 4-Dr Sedan||$210||$392||$180||$10||$54||$846||$71|
|Get Your Own Custom Quote Go|
Data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Hawaii minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, safe-driver, and claim-free. Rate quotes do not factor in specific garaging location which can raise or lower premium rates considerably.
The illustration below highlights how deductible selection and can influence Mercedes-Benz E350 insurance costs for different ages of insureds. Data assumes a single male driver, comp and collision included, and no discounts are factored in.
Responsible drivers pay cheaper Honolulu car insurance rates
The information below demonstrates how citations and accidents can impact Mercedes-Benz E350 insurance prices for different age categories. The premium estimates are based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied to the premium.
Liability only or full coverage
The diagram below shows the comparison of Mercedes-Benz E350 insurance costs with liability coverage only compared to full coverage. The premiums are based on no tickets, no at-fault accidents, $500 deductibles, drivers are single, and no policy discounts are applied.
Should you be buying full coverage?
There is no specific rule for dropping physical damage insurance, but there is a general guideline. If the yearly cost for physical damage coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it might be time to consider dropping full coverage.
For example, let’s pretend your Mercedes-Benz E350 replacement cost is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $4,000 after the policy deductible has been paid. If you are paying in excess of $400 a year for your policy with full coverage, then it could be time to drop full coverage.
There are some scenarios where dropping physical damage coverage is not a good plan. If you still have a loan on your vehicle, you have to maintain full coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.
Insurance is an important decision
Despite the potentially high cost of Mercedes-Benz E350 insurance, insuring your vehicle is not optional due to several reasons.
First, just about all states have mandatory liability insurance requirements which means it is punishable by state law to not carry a specific level of liability in order to be legal. 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.
Second, if your E350 has a loan, most lenders will stipulate that you buy full coverage to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the lender may have to buy a policy to insure your Mercedes-Benz for a much higher rate and force you to pay the higher premium.
Third, insurance protects not only your vehicle but also your financial assets. Insurance will also pay for most medical and hospital costs for you, your passengers, and anyone else injured in an accident. As part of your policy, liability insurance also pays expenses related to your legal defense if you are sued as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will pay to repair the damage.
The benefits of carrying adequate insurance more than offset the price you pay, particularly if you ever have a claim. As of last year, the average driver in Hawaii is overpaying over $700 annually so you should quote rates at every policy renewal to help ensure money is not being wasted.
Slash rates with these discounts
Some providers don’t always publicize every discount in a way that’s easy to find, so the following is a list of both well-publicized and also the more inconspicuous discounts you could be receiving when you buy Honolulu car insurance online. If you do not double check each discount you qualify for, it’s possible you qualify for a lower rate.
- Distant Student – Any of your kids who attend college more than 100 miles from Honolulu and don’t have a car may be able to be covered for less.
- No Charge for an Accident – This one is not really a discount per se, but some companies like State Farm and GEICO may permit one accident without getting socked with a rate hike if you are claim-free before the accident.
- Pay Now and Pay Less – By paying your entire bill at once rather than paying in monthly installments you may have a lower total premium amount.
- Discount for Passive Restraints – Vehicles equipped with air bags or automatic seat belts can receive discounts of 20% or more.
- 55 and Retired – If you’re over the age of 55, you can get reduced rates.
- Discount for Good Grades – Being a good student can save 20 to 25%. Earning this discount can benefit you up until you turn 25.
Don’t be shocked that most credits do not apply to the overall cost of the policy. Some only reduce specific coverage prices like medical payments or collision. If you do the math and it seems like all those discounts means the company will pay you, it doesn’t quite work that way.
The information below visualizes the comparison of Mercedes-Benz E350 annual premium costs with and without discounts applied to the policy premium. The costs are based on a female driver, no violations or claims, Hawaii state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, safe-driver, multi-policy, claim-free, homeowner, and marriage discounts applied.
A list of auto insurance companies and some of the premium reductions they offer can be found below.
- Farmers Insurance policyholders can earn discounts including alternative fuel, good student, multi-car, mature driver, pay in full, business and professional, and early shopping.
- State Farm has savings for anti-theft, good student, passive restraint, multiple autos, and accident-free.
- Liberty Mutual offers discounts including newly married, safety features, multi-policy, new graduate, hybrid vehicle, and teen driver discount.
- MetLife includes discounts for claim-free, accident-free, multi-policy, defensive driver, good driver, and good student.
- Progressive may include discounts for good student, multi-vehicle, online signing, continuous coverage, homeowner, and multi-policy.
It’s a good idea to ask all the companies the best way to save money. All car insurance discounts might not be offered on policies in Honolulu. To see insurance companies that offer discounts in Hawaii, click here to view.
You may want advice from an agent
Certain consumers just want to buy from a licensed agent and that is a smart decision The biggest benefit of comparing rate quotes online is you may find better rates and still have an agent to talk to.
After filling out this short form, your coverage information is transmitted to companies in Honolulu who can give free rate quotes for your coverage. It’s much easier because you don’t need to contact any insurance agencies since rate quotes are delivered immediately to your email address. Get lower rates without the usual hassles of price shopping. If you want to compare rates from a particular provider, feel free to navigate to their website and complete a quote there.
Deciding on an provider should depend on more than just the bottom line cost. Before buying a policy in Honolulu, get answers to these questions.
- How long has their agency been in business in Honolulu?
- Is vehicle mileage a factor when determining depreciation for repairs?
- Do the coverages you’re quoting properly cover your vehicle?
- What company holds the largest book of business for them?
- Do they carry Errors and Omissions coverage?
- Do they review policy coverages at every renewal?
- Is their price quote a firm figure or are their hidden costs?
- Do they have a Better Business Bureau rating in Honolulu?
Compare. Compare. Compare.
When getting Honolulu car insurance quotes online, do not sacrifice coverage to reduce premiums. In many instances, consumers will sacrifice liability limits or collision coverage only to discover later that they should have had better coverage. The aim is to buy a smart amount of coverage at an affordable rate but still have enough coverage for asset protection.
Cheaper Mercedes-Benz E350 insurance in Honolulu is available online and from local insurance agents, and you need to comparison shop both so you have a total pricing picture. Some insurance companies do not offer the ability to get a quote online and usually these regional carriers only sell through independent insurance agents.
More tips and info about insurance is available by following these links:
- Auto Insurance FAQ (Farmers Insurance)
- Who Has the Cheapest Auto Insurance for Drivers Over Age 60 in Honolulu? (FAQ)
- How Much are Car Insurance Quotes for Uber Drivers in Honolulu? (FAQ)
- Who Has Cheap Honolulu Auto Insurance Quotes for Electric Cars? (FAQ)
- Who Has Cheap Auto Insurance for a Nissan Altima in Honolulu? (FAQ)
- When is the Right Time to Switch Car Insurance Companies? (Allstate)
- Collision Coverage (Liberty Mutual)