Honda Insight Insurance Rate Quotes in Honolulu

Remarkably, a study showed that most auto insurance policyholders kept buying from the same company for at least the last four years, and 38% of drivers have never compared rates with other companies. Most drivers in Hawaii could save roughly 40% a year just by shopping around, but they just don’t understand the amount of savings they would get if they replace their high priced policy.

Insurance for Honda InsightThe easiest way to find low-cost prices for car insurance rates is to regularly compare quotes from companies in Honolulu. This can be done by following these steps.

  1. Get a basic knowledge of how insurance companies determine prices and the things you can control to keep rates in check. Many risk factors that cause rate increases such as speeding and a less-than-favorable credit score can be eliminated by being financially responsible and driving safely.
  2. Request rate estimates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from a single company like Progressive or State Farm, while independent agencies can provide price quotes from multiple companies.
  3. Compare the quotes to your existing policy to see if switching to a new carrier will save money. If you find a lower rate and buy the policy, verify that coverage does not lapse between policies.
  4. Tell your current company of your intent to cancel the current policy and submit payment and a signed application for the new policy. Once the application is submitted, put the new proof of insurance certificate in your vehicle.

One tip to remember is to use identical coverage information on every price quote and to quote with as many companies as you can. This guarantees the most accurate price comparison and maximum price selection.

Locating the best rates in Honolulu is actually quite simple. If you have insurance now or are looking for a new policy, you can learn to reduce the price you pay while maximizing coverage. Shoppers just need to learn the most time-saving way to get comparison rates online.

The majority of larger companies allow you to get prices for coverage online. Getting online rates for Honda Insight insurance in Honolulu is quite easy as you just enter the coverage amounts you desire on the page. Once you submit the form, their system will obtain your credit score and driving record and returns pricing information based on these factors.

This simplifies rate comparisons, and it is imperative to do this if you want to find affordable rates.

To compare rates now, compare rate quotes from the providers shown below. If you currently have coverage, we recommend you input coverages and limits identical to your current policy. Doing this assures you will have rate quotes based on identical coverages.

The providers in the list below have been selected to offer price comparisons in Honolulu, HI. If several companies are displayed, it’s highly recommended you visit two to three different companies to find the cheapest car insurance rates.

Detailed insurance information

The rate information below outlines detailed analysis of insurance costs for Honda Insight models. Learning a little about how premiums are determined can help you make decisions on the best policy coverages.

Honda Insight Insurance Rates in Honolulu, HI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $126 $216 $346 $20 $104 $812 $68
Insight EX $144 $256 $346 $20 $104 $870 $73
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Above prices assume single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Hawaii minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Information does not factor in specific zip code location which can impact auto insurance rates noticeably.

Physical damage deductibles: Should you raise them?

One of the hardest decisions when shopping for car insurance is how low should you set your deductibles. The rates below may help to conceptualize the cost difference between high and low policy deductibles. The first data table uses a $250 deductible and the second set of prices uses a $500 deductible.

Honda Insight insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $178 $344 $264 $16 $80 $907 $76
Insight EX $204 $406 $264 $16 $80 $995 $83
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Honda Insight insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $144 $278 $264 $16 $80 $782 $65
Insight EX $166 $328 $264 $16 $80 $854 $71
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Hawaii minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Premium amounts do not factor in specific garaging location which can affect auto insurance rates considerably.

Using the premium rates above, we can conclude that using a $250 deductible costs roughly $12 more each month or $144 each year than quoting the higher $500 deductible. Since you would have to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you have more than 21 months between claims, you would most likely save money by selecting a higher deductible.

Calculate deductible break even point

Average monthly premium for $250 deductibles: $80
Average monthly premium for $500 deductibles (subtract): – $68
Monthly savings from raising deductible: $12
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $12
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 21 months

Honda Insight full coverage rates compared to liability only

The illustration below illustrates the comparison of Honda Insight insurance prices when comparing full coverage to liability only. Data assumes no claims or driving violations, $250 deductibles, single marital status, and no policy discounts are applied.

Deciding between full coverage and liability only

There isn’t a steadfast formula for excluding comp and collision coverage, but there is a general convention. If the yearly cost for physical damage coverage is more than 10% of any settlement you would receive from your insurance company, then it’s probably a good time to buy liability coverage only.

For example, let’s say your Honda Insight book value is $3,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would get paid by your company is $2,000 after the deductible is paid. If you are paying in excess of $200 annually for full coverage, then you might want to consider buying only liability coverage.

There are some circumstances where removing full coverage is not financially feasible. If you still have a lienholder on your title, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should maintain full coverage.

Auto insurance does more than just repair your car

Despite the potentially high cost of Honda Insight insurance, auto insurance may be required for several reasons.

First, the majority of states have minimum liability requirements which means state laws require specific limits of liability in order to license the vehicle. 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 you took out a loan on your Insight, most banks will require you to have comprehensive coverage to guarantee payment of the loan. If you cancel or allow the policy to lapse, the lender will be forced to insure your Honda at a more expensive rate and force you to pay for the expensive policy.

Third, auto insurance preserves both your Honda and your assets. It will also provide coverage for medical expenses for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If damage is caused by hail or an accident, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.

The benefits of carrying adequate insurance definitely exceed the price paid, particularly if you ever have a claim. But the average driver in Hawaii is overpaying over $865 each year so you should quote your policy with other companies at every policy renewal to save money.

Smart Buyers Save on Insurance

Consumers need to have an understanding of the different types of things that are used to determine your policy premiums. If you have a feel for what influences your rates, this enables informed choices that can earn you lower auto insurance prices.

Shown below are a few of the “ingredients” used by insurance companies to determine prices.

Cut premiums and deter theft – Selecting a car model that has an advanced theft prevention system can earn a premium discount. Systems that thwart thieves like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping auto theft.

Policy add-ons can waste money – There are quite a few extra add-on coverages that you can buy on your Insight policy. Add-on coverages like replacement cost coverage, towing, and extra life insurance coverage may not be needed and are just wasting money. These coverages may sound good when deciding what coverages you need, but if they’re wasting money consider taking them off your policy.

Big cities mean more claims – Having an address in areas with lower population can be a good thing when shopping for auto insurance. Fewer drivers on the road translates into fewer accidents and a lower car theft rate. Urban drivers have to deal with congested traffic and much longer commute distances. Longer commute distances means more chance of being in an accident.

Low deductibles cost more – Comprehensive and collision coverage deductibles are the amount of money you are willing to pay if the claim is covered. Physical damage coverage, otherwise known as comp (or other than collision) and collision, protects your car from damage. A few examples of covered claims would be a windshield broken by a bird, damage caused by hail, and having a roll-over accident. The more you choose to pay out-of-pocket, the lower your rates will be.

Tickets and citations cost more than a fine – Even a single driving citation can boost insurance rates by twenty percent. Good drivers pay less for auto insurance than bad drivers. Drivers who have received careless tickets like DWI, reckless driving or hit and run convictions may find that they have to to file a proof of financial responsibility form (SR-22) with their state’s licensing department in order to drive a vehicle legally.

The information below shows how traffic citations and at-fault accidents raise Honda Insight premium costs for different age groups. The rates are based on a single female driver, comprehensive and collision coverage, $500 deductibles, and no discounts are factored in.

Credit rating impacts rates – Having a bad credit rating is a big factor in determining your rates. If your credit is not that good, you could potentially save money when insuring your Honda Insight if you improve your credit rating. Consumers who have very high credit ratings tend to be more responsible than those with bad credit.

Different people need different insurance coverages

Always remember that when buying insurance from an agent or online for your vehicles, there really is not a perfect coverage plan. Every situation is different so this has to be addressed.Insurance savings
These are some specific questions could help you determine whether or not you might need professional guidance.

If you’re not sure about those questions but you know they apply to you then you might want to talk to an agent. If you don’t have a local agent, take a second and complete this form or click here for a list of insurance companies in your area. It is quick, free and you can get the answers you need.

Smart consumers save more

There are still a few companies who may not offer online price quotes and usually these regional insurance providers sell through local independent agents. The cheapest Honda Insight insurance in Honolulu is possible on the web in addition to local insurance agencies, and you should compare rates from both to have the best selection.

We just covered a lot of tips how to lower your Honda Insight insurance rates in Honolulu. The key thing to remember is the more companies you get auto insurance rates for, the better your comparison will be. Consumers could even find that the lowest priced car insurance comes from a small local company. Regional companies may only write in your state and offer lower auto insurance rates than their larger competitors like State Farm, GEICO and Nationwide.

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