It’s an obvious conclusion that insurance companies want to keep you from shopping around. Consumers who compare rates annually are very likely to switch companies because of the high probability of finding a lower-cost company. Remarkably, a study showed that drivers who regularly shopped around saved as much as $3,500 over four years compared to those who never shopped around for better prices.
If finding the best rates on insurance is the reason you’re here, then learning about the best ways to shop for cheaper coverage can save time and make the process easier.
It takes a little time, but the best way to get the cheapest auto insurance rates is to compare prices regularly from insurers who provide car insurance in Honolulu. This can be done by completing these steps.
- Step 1: Gain an understanding of how your policy works and the factors you can control to prevent rate increases. Many risk factors that increase rates like inattentive driving and a less-than-favorable credit score can be controlled by making lifestyle changes or driving safer.
- Step 2: Request price quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only quote rates from one company like GEICO and Allstate, while agents who are independent can provide price quotes for many different companies. Start a quote
- Step 3: Compare the new rates to your current policy premium and see if you can save money. If you find a better price and buy the policy, make sure there is no coverage gap between policies.
- Step 4: Notify your current company of your intention to cancel your existing policy. Submit a down payment along with a signed application to the newly selected company. When you receive it, store the proof of insurance paperwork with your registration paperwork.
The key thing to remember is to make sure you’re comparing the same amount of coverage on every quote request and and to get quotes from as many different companies as possible. This guarantees a fair rate comparison and a complete price analysis.
Finding a lower price on insurance is surprisingly easy. Consumers just need to take the time comparing free Honolulu car insurance quotes provided by online insurance companies.
The companies shown below are our best choices to provide price comparisons in Hawaii. If multiple companies are listed, it’s a good idea that you compare several of them to get the most competitive price.
Discounts mean cheaper rates for Lexus LFA insurance in Honolulu
Properly insuring your vehicles can get expensive, but you might already qualify for some discounts that you may not even know about. Some discounts apply automatically at the time you complete a quote, but once in a while a discount must be manually applied in order for you to get them.
- Savings for New Vehicles – Insuring a new LFA can get you a discount because newer vehicles have to meet stringent safety requirements.
- Drivers Education – Make teen driver coverage more affordable by requiring them to enroll and complete driver’s education if it’s offered in school.
- Early Switch Discount – A few companies allow discounts for buying a policy prior to your current LFA insurance policy expiring. You could save around 10% when you buy Honolulu car insurance online.
- Seat Belts Save – Drivers who require all vehicle occupants to buckle up before driving could save 15% off the medical payments premium.
- Professional Memberships – Belonging to qualifying clubs or civic groups could earn you a nice discount on your next renewal.
- Passenger Safety Discount – Vehicles equipped with air bags and/or automatic seat belt systems may qualify for discounts of 20 to 30 percent.
- Senior Discount – If you’re over the age of 55, you could receive reduced rates.
- Low Mileage – Keeping the miles down on your Lexus could earn slightly better premium rates than normal.
- Drive Safe and Save – Insureds who avoid accidents can save up to 40% or more on their Honolulu car insurance quote compared to accident prone drivers.
- Student Discounts – Getting good grades may save you up to 25%. The discount lasts up to age 25.
As is typical with insurance, some credits don’t apply to your bottom line cost. The majority will only reduce the price of certain insurance coverages like liability, collision or medical payments. Just because you may think you can get free auto insurance, it’s just not the way it works.
A list of companies and a selection of discounts can be read below.
- Esurance offers discounts including emergency road assistance, DriveSense, renters, online quote, and online shopper.
- The Hartford discounts include bundle, driver training, good student, defensive driver, vehicle fuel type, and air bag.
- AAA has discounts for good student, good driver, multi-car, anti-theft, multi-policy, and AAA membership discount.
- GEICO policyholders can earn discounts including good student, five-year accident-free, air bags, emergency military deployment, membership and employees, and military active duty.
- State Farm includes discounts for defensive driving training, driver’s education, passive restraint, good student, anti-theft, good driver, and safe vehicle.
When quoting, ask all the companies which credits you are entitled to. Some discounts listed above may not apply to policyholders in your state. If you would like to choose from a list of auto insurance companies that offer the discounts shown above in Honolulu, click here.
Car insurance is not optional but you don’t have to overpay
Even though it’s not necessarily cheap to insure a Lexus in Honolulu, buying car insurance is most likely required but also gives you several important benefits.
First, just about all states have mandatory liability insurance requirements which means you are required to buy a specific level of liability insurance coverage 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 bought your Lexus LFA with a loan, it’s most likely the lender will stipulate that you buy full coverage to guarantee payment of the loan. If coverage lapses or is canceled, the lender may insure your Lexus for a lot more money and require you to pay for it.
Third, car insurance protects both your assets and your car. It will also reimburse you for most medical and hospital costs incurred in an accident. One policy coverage, liability insurance, will also pay attorney fees if you cause an accident and are sued. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will cover the damage repairs after a deductible is paid.
The benefits of buying enough insurance are without a doubt worth the cost, particularly when you have a large claim. In a recent study of 1,000 drivers, the average customer is overpaying more than $750 every year so compare rates each time the policy renews to make sure the price is not too high.
What if I want to buy from local Honolulu insurance agents?
Some consumers still like to sit down and talk to an agent and that is a personal choice. Agents can help determine the best coverages and give you someone to call. The best thing about price shopping on the web is that you can find cheap rate quotes but still work with a licensed agent.
Once you complete this short form, the quote information gets sent to agents in your area who will give you quotes for your coverage. You won’t even need to drive around due to the fact that quote results will go to you instantly. If for some reason you want to get a comparison quote from one company in particular, feel free to visit that company’s website and complete a quote there.
Picking the best insurance company should depend on more than just the bottom line cost. These are valid questions to ask:
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- Are they able to provide referrals?
- Are they in the agency full-time?
- How long have they worked with personal auto insurance coverage?
- Will one accident increase rates?
Insurance agent types
If you are wanting to find a reputable agency, it helps to know the two different agency structures and how they can write your policy. Agents in Honolulu are classified as either exclusive agents or independent agents. Both types can insure your vehicles properly, but it is a good idea to know the subtle differences because it can factor into buying decisions.
Agents of this type have only one company to place business with and examples are State Farm, AAA, Farmers Insurance or Allstate. Exclusive agents cannot compare rates from other companies so keep that in mind. Exclusive agents are very knowledgeable on their company’s products which helps offset the inability to provide other markets. Consumers sometimes purchase coverage from exclusives mainly due to the prominence of the brand rather than low price.
Below are Honolulu exclusive agencies who may provide you with price quotes.
- Gary Nakamura – State Farm Insurance Agent
1016 Kapahulu Ave #250 – Honolulu, HI 96816 – (808) 734-3265 – View Map
- Allstate Insurance: Rory Lee
575 Cooke St d – Honolulu, HI 96813 – (808) 596-8333 – View Map
- Cynthia Leiko Frost – State Farm Insurance Agent
2038 S King St – Honolulu, HI 96826 – (808) 952-5353 – View Map
Independent Auto Insurance Agents
Agents of this type are not employed by one company and that allows them to write policies amongst many companies and find the cheapest auto insurance rates. If prices rise, they simply move your policy to a different company and you don’t have to find a new agent. When searching for an agent, we recommend you include multiple independent agents to have the most options to choose from. Many write coverage with companies that do not advertise much which may have better rates.
Below are independent agencies in Honolulu that are able to give price quote information.
- Rosten Y Tsuha Insurance Agency Inc
1350 S King St #303 – Honolulu, HI 96814 – (808) 591-5545 – View Map
- Dongbu Insurance
1440 Kapiolani Blvd # 950 – Honolulu, HI 96814 – (808) 942-5353 – View Map
- Cavanah Associates, Inc.
1100 Alakea St #2600 – Honolulu, HI 96813 – (808) 537-1970 – View Map