Did budget coverage turn out to be high-priced Hyundai Veloster insurance in Honolulu? It’s quite common and you’re not the only one.
Statistics show that the vast majority of drivers have stayed with the same insurance company for at least four years, and just short of a majority have never shopped around. Honolulu insurance shoppers could save 40% a year just by shopping around, but most just don’t grasp how much they could save if they moved their coverage to a different company.
How to buy affordable Hyundai Veloster insurance in Honolulu
If saving the most money is your goal, then the best way to find the cheapest price for auto insurance rates is to do a yearly price comparison from insurers who can sell car insurance in Honolulu.
First, read about auto insurance and the changes you can make to prevent high rates. Many factors that result in higher prices such as accidents, traffic tickets, and a poor credit score can be remedied by making minor changes to your lifestyle. Later in this article we will cover more information to help find cheaper rates and earn larger discounts.
Second, request rate estimates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can provide rates from a single company like Progressive and State Farm, while agents who are independent can quote rates for many different companies.
Third, compare the quotes to the price on your current policy and see if there is a cheaper rate. If you find a better price, make sure coverage does not lapse between policies.
Fourth, tell your current agent or company of your intent to cancel the current policy. Submit the application along with any required down payment to your new insurance company. Immediately put the certificate verifying coverage in your glove compartment.
One thing to point out is to compare the same level of coverage on every quote request and and to look at every insurance company. This helps ensure a level playing field and a thorough price selection.
With so many online and local companies to choose from, it’s difficult to pick the lowest cost insurance company.
How Insurance Companies Calculate Hyundai Veloster Insurance Rates
Lots of factors are taken into consideration when quoting car insurance. A few of the factors are predictable like your driving record, although some other factors are less obvious such as your marital status and annual miles driven. When buying insurance it’s important to understand the rating factors that go into determining the price you pay for insurance. If you understand what determines premiums, this helps enable you to make changes that may result in cheaper rates.
The factors shown below are some of the most rate-impacting factors insurance companies consider when setting your prices.
Does auto insurance cost less for gals? – Over time, data shows women tend to be less risk to insure than men. However, don’t assume that females are better drivers. Males and females cause fender benders in similar percentages, but men have accidents that have higher claims. Men also tend to get cited for more serious violations such as reckless driving.
Get hitched and pay less – Being married may save some money when buying insurance. Having a significant other generally demonstrates drivers are more financially stable and statistics show drivers who are married are more cautious.
Keep the miles off and save – The higher the mileage driven each year the more you’ll pay to insure it. A lot of companies apply a rate based upon how the vehicle is primarily used. Cars and trucks not used for work or commuting get more affordable rates than cars that get driven a lot. An incorrectly rated Veloster is just wasting money. Ask your agent if your insurance declarations sheet shows the correct driver usage.
Prevent your car from being stolen – Driving a car with advanced anti-theft systems can help lower your premiums. Theft prevention devices such as OnStar, LoJack tracking, and tamper alarms all help stop auto theft.
Small claims can cost you – Car insurance companies in Hawaii give the lowest premiums to drivers who are claim-free. If you’re an insured who likes to file claims you can look forward to either higher rates or even cancellation. Auto insurance is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
High coverage deductibles cost less – Comp and collision deductibles state the amount of money the insured will be required to pay if a covered claim is submitted. Physical damage insurance, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Examples of covered claims would be collision with another vehicle, damage caused by hail, and damage caused by road hazards. The more damage repair cost you’re willing to pay, the less your insurance will be.
Safer cars means lower rates – Safe vehicles get lower rates. Safer cars reduce injuries and fewer serious injuries translates directly to fewer claims and more competitive rates for policyholders.
Performance makes a difference – The performance level of the vehicle you are insuring makes a huge difference in your auto insurance rates. Lower cost passenger models receive the most favorable rates, but your final cost has many other factors.
Hyundai Veloster insurance claim data – Insurance companies analyze claim trends for every vehicle when they file their rates in each state. Models that historically have high amounts or severity of claims will have increased rates. The information below illustrates the collected loss data for Hyundai Veloster vehicles.
For each type of coverage, the statistical loss for all vehicles, as an average, is a value of 100. Numbers that are below 100 represent a good loss history, while percentage values above 100 point to more claims or a tendency for losses to be larger than average.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Hyundai Veloster Turbo||116||87||104||98||89||101|
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
The auto insurance companies shown below are our best choices to provide quotes in Hawaii. If the list has multiple companies, it’s a good idea that you visit several of them to find the most competitive auto insurance rates.
Three good reasons to insure your Hyundai Veloster
Despite the high cost of buying insurance for a Hyundai Veloster in Honolulu, buying car insurance is most likely required but also gives you several important benefits.
- Most states have minimum liability requirements which means you are required to buy specific minimum amounts of liability insurance if you don’t want to risk a ticket. 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 took out a loan on your vehicle, most lenders will stipulate that you have comprehensive coverage to guarantee loan repayment. If you do not pay your insurance premiums, the lender will be forced to insure your Hyundai for a much higher rate and require you to fork over the higher premium.
- Insurance safeguards not only your car but also your assets. Insurance will pay for most medical and hospital costs for you, any passengers, and anyone injured in an accident. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, your car insurance policy will cover the repair costs.
The benefits of having insurance more than cancel out the cost, especially if you ever need it. Today the average American driver is overpaying more than $820 a year so you should quote and compare rates each time the policy renews to save money.
Cheap Hyundai Veloster insurance in Honolulu
Properly insuring your vehicles can get expensive, but companies offer discounts that you may not even know about. Some of these discounts will be visible when you get a quote, but some may not be applied and must be requested specifically before being credited.
- Discount for Passive Restraints – Cars that have air bags or automatic seat belts may qualify for discounts of 20% or more.
- Safe Driver Discount – Insureds without accidents can get discounts for up to 45% lower rates compared to accident prone drivers.
- Discounts for Multiple Vehicles – Buying coverage for more than one vehicle on one policy qualifies for this discount.
- Multi-line Discount – Some insurance carriers give a discount if you purchase life insurance from them.
- Seat Belts Save – Requiring all passengers to buckle up could cut 10% or more off PIP or medical payments premium.
- Paper-free Discount – A few larger online companies may give you up to $50 for buying a policy and signing up on the web.
- Policy Bundle Discount – When you combine your auto and home insurance and insure them both with the same insurance company you may earn at least 10% off all policies.
- Driver Training Discounts – Successfully completing a course teaching driver safety skills could possibly earn you a 5% discount and easily recoup the cost of the course.
- Anti-lock Brakes – Cars and trucks with anti-lock braking systems can stop better under adverse conditions and earn discounts up to 10%.
Please keep in mind that most credits do not apply to the entire cost. Most only reduce the cost of specific coverages such as collision or personal injury protection. So even though they make it sound like it’s possible to get free car insurance, it’s just not the way it works. Any qualifying discounts should help reduce your policy premiums.
To see a list of providers that have a full spectrum of discounts in Hawaii, follow this link.
Do I need an insurance agent?
Some consumers prefer to talk to an insurance agent and that can be a great decision Agents can help you choose the best coverages and help in the event of a claim. An additional benefit of price shopping on the web is that you can find cheap auto insurance rates and still have an agent to talk to. And buying from local agents is important particularly in Honolulu.
After filling out this form (opens in new window), your information is emailed to agents in your area that give free quotes for your insurance coverage. There is no need to drive around since rate quotes are delivered to the email address you provide. In the event you want to compare rates from one company in particular, you just need to visit that company’s website and give them your coverage information.
Picking the best insurer is decision based upon more than just a cheap price. Some important questions to ask are:
- Is the agency active in community causes in Honolulu?
- Are claims handled at the agent’s location?
- What insurance companies do they recommend if they are an independent agent?
- Is there a Errors and Omissions policy in force?
- Do they have a Better Business Bureau rating in Honolulu?
- Are all drivers listed on the coverage quote?
- How long have they been in business?
- Will they give you a referral list?
How to know if you need help
Always keep in mind that when comparing insurance from an agent or online, there really is no one size fits all plan. Coverage needs to be tailored to your specific needs.
Here are some questions about coverages that might point out whether you would benefit from an agent’s advice.
- Am I covered if I hit my neighbor’s mailbox?
- Are there any extra discounts I can get?
- How much underlying liability do I need for an umbrella policy?
- Does every company file a SR-22 automatically?
- I have a DUI can I still get coverage?
- What is UM/UIM insurance?
- Do I need special endorsements for business use of my vehicle?
- Can my babysitter drive my car?
- Can I use my car for my catering business?
- Can I insure my car for more than it’s worth?
If you’re not sure about those questions, you may need to chat with a licensed agent. If you don’t have a local agent, simply complete this short form. It’s fast, doesn’t cost anything and may give you better protection.
Cheaper car insurance rates are possible
While you’re price shopping online, it’s not a good idea to reduce needed coverages to save money. There have been many cases where someone sacrificed comprehensive coverage or liability limits only to find out that it was a big error on their part. Your strategy should be to purchase a proper amount of coverage at the best price but still have enough coverage for asset protection.
People leave their current company for a number of reasons such as an unsatisfactory settlement offer, extreme rates for teen drivers, lack of trust in their agent and even high rates after DUI convictions. It doesn’t matter what your reason, switching car insurance companies can be pretty painless.
We’ve covered quite a bit of information on how to shop for Hyundai Veloster insurance online. The key concept to understand is the more you quote Honolulu car insurance, the more likely it is that you will get a better rate. You may even discover the lowest priced car insurance comes from a small local company.
Steps to finding cheaper rates for Hyundai Veloster insurance in Honolulu
If saving money is your primary concern, then the best way to get budget Hyundai Veloster insurance in Honolulu is to start comparing rates regularly from different companies that sell auto insurance in Hawaii.
- Read and learn about how car insurance works and the measures you can take to keep rates in check. Many factors that are responsible for high rates such as accidents, careless driving, and an imperfect credit rating can be amended by making small lifestyle or driving habit changes.
- Compare prices from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can give quotes from one company like GEICO and Allstate, while agents who are independent can provide rate quotes from multiple companies.
- Compare the quotes to your current policy premium and determine if cheaper Veloster coverage is available in Honolulu. If you can save some money, make sure coverage does not lapse between policies.
The most important part of shopping around is that you’ll want to make sure you compare the same physical damage deductibles and liability limits on every price quote and and to get price quotes from as many auto insurance providers as possible. This helps ensure the most accurate price comparison and a complete price analysis.
To learn more, feel free to visit the articles below:
- Medical Payments Coverage (Liberty Mutual)
- How Much are Car Insurance Quotes for a Dodge Ram in Honolulu? (FAQ)
- Who Has the Cheapest Honolulu Auto Insurance Rates for Young Drivers? (FAQ)
- What Car Insurance is Cheapest for a Ford Edge in Honolulu? (FAQ)
- Understanding Your Insurance Deductible (Insurance Information Institute)
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- Protecting Teens from Drunk Driving (Insurance Information Institute)