How to Save on Honolulu Volvo S40 Insurance

Insurance for Volvo S40Smart shoppers know that car insurance companies don’t want you to look at other companies. Consumers who shop around are likely to switch to a new company because there is a good probability of finding discount prices. A recent car insurance study revealed that consumers who compared rates regularly saved an average of $72 a month compared to drivers who never compared prices.

If finding low prices for Volvo S40 insurance is your ultimate objective, then understanding the best way to compare coverages can help simplify the task of finding more affordable coverage.

The recommended way to get cheaper auto insurance rates is to annually compare prices from insurance carriers who provide car insurance in Honolulu.

An important part of this process is that you’ll want to make sure you compare identical coverages on each price quote and and to get quotes from as many different insurance providers as possible. This ensures an apples-to-apples comparison and a complete price analysis.

When comparison shopping, there are several ways to compare quotes from many auto insurance companies in Hawaii. The easiest way to find cheaper Volvo S40 rates involves getting comparison quotes online.

It’s important to know that having more price comparisons will enable you to find the best price.

The companies shown below have been selected to offer free rate quotes in Honolulu, HI. If multiple companies are listed, it’s highly recommended you visit several of them in order to get a fair rate comparison.

Determine discounts on Honolulu insurance

Insurance is easily one of your largest bills, but you might be missing out on some discounts that can drop the cost substantially. Certain credits will be shown when you purchase, but a few must be inquired about before you get the savings.Save money with discounts

Discounts lower rates, but most discounts do not apply to the entire policy premium. Some only apply to specific coverage prices like liability and collision coverage. So when the math indicates having all the discounts means you get insurance for free, nobody gets a free ride.

The diagram below compares Volvo S40 annual premium costs with and without discounts applied to the policy premium. The prices are based on a female driver, a clean driving record, no at-fault accidents, Hawaii state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, multi-car, claim-free, safe-driver, and multi-policy discounts applied.

A few of the larger companies and the discounts they provide are outlined below.

When getting a coverage quote, ask each company or agent how you can save money. Some discounts may not apply to policies in Honolulu. If you would like to view insurers who offer discounts in Hawaii, click this link.

Volvo S40 insurance statistics and information

The premium information below highlights estimates of insurance policy prices for Volvo S40 models. Learning more about how insurance quotes are calculated is important for you to make decisions on the best policy coverages.

Volvo S40 Insurance Rates in Honolulu, HI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $222 $500 $300 $18 $90 $1,130 $94
S40 T5 $222 $500 $300 $18 $90 $1,130 $94
S40 T5 AWD R-Design $222 $500 $300 $18 $90 $1,130 $94
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Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Hawaii minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Information does not factor in specific garaging location which can raise or lower rates substantially.

Deductible analysis

One of the more difficult decisions when buying car insurance is what deductibles to buy. The rates below may help to conceptualize the differences in premium rates when you select higher and lower policy deductibles. The first pricing table uses a $100 physical damage coverage deductible and the second price table uses a $1,000 deductible.

Volvo S40 insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $258 $484 $264 $16 $80 $1,127 $94
S40 T5 $258 $484 $264 $16 $80 $1,127 $94
S40 T5 AWD R-Design $258 $484 $264 $16 $80 $1,127 $94
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Volvo S40 insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S40 2.4I $142 $256 $264 $16 $80 $758 $63
S40 T5 $142 $256 $264 $16 $80 $758 $63
S40 T5 AWD R-Design $142 $256 $264 $16 $80 $758 $63
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Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Hawaii minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Premium amounts do not factor in Honolulu location which can increase or decrease coverage prices noticeably.

Based on the figures above, using a $100 deductible could cost the average driver approximately $31 more each month or $372 each year than buying the higher $1,000 deductible. Since you would have to pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you normally go at a minimum 29 months between claims, you would save money if you choose the higher deductible.

Calculation for raising deductibles

Average monthly premium for $100 deductibles: $94
Average monthly premium for $1,000 deductibles (subtract): – $63
Monthly savings from raising deductible: $31
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $31
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 29 months

One important caveat is that a higher deductible level means you will have to pay more when you file a claim. That will require some money saved in the event you need to pay the deductible.

Bad driving habits will cost you more

The example below shows how speeding tickets and accidents can raise Volvo S40 yearly insurance costs for different age groups. The data is based on a single female driver, comp and collision included, $500 deductibles, and no additional discounts are factored in.

Car insurance prices based on gender

The chart below illustrates the difference between Volvo S40 insurance costs for male and female drivers. The price estimates are based on a clean driving record, no at-fault accidents, comprehensive and collision coverage, $1,000 deductibles, single marital status, and no discounts are applied.

Difference between liability only and full coverage rates

The illustration below illustrates the difference between Volvo S40 insurance rates with and without physical damage coverage. The costs are based on no violations or claims, $1,000 deductibles, single status, and no discounts are factored in.

When to eliminate full coverage

There is no definitive rule to eliminate physical damage insurance, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than around 10% of replacement cost minus your deductible, then it might be time to buy liability only.

For example, let’s pretend your Volvo S40 book value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would receive is $6,000 after the deductible is paid. If you are paying over $600 annually for your policy with full coverage, then it could be time to drop full coverage.

There are some scenarios where eliminating full coverage is not advised. If you still owe money on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest in the vehicle. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should maintain full coverage.

Comparing quotes from local Honolulu car insurance agents

Some people would prefer to talk to an insurance agent and that is recommended in a lot of cases One of the great benefits of comparing rates online is you may find cheap auto insurance quotes and also buy local.

Insurance agents in HonoluluBy using this simple form, your insurance coverage information is transmitted to local insurance agents who will give you quotes and help you find cheaper coverage. There is no need to contact any insurance agencies because prices are sent to you directly. You’ll get the best rates AND an agent nearby. If you need to get a price quote from a specific company, you just need to navigate to their website and give them your coverage information.

Picking the best company requires more thought than just a low price. Before buying a policy in Honolulu, get answers to these questions.

What types of car insurance agents are in Honolulu?

If you are searching for a local agent, you need to know there are two types of insurance agents from which to choose. Auto insurance agencies are considered either exclusive or independent agents depending on their company appointments.

Exclusive Auto Insurance Agencies

Exclusive agents can only provide pricing for a single company and examples are Allstate and State Farm. These agents are not able to provide other company’s prices so they have to upsell other benefits. Exclusive agents are trained well on what they offer and that allows them to sell at a higher price point. Some insured continue to use the same exclusive agent partially due to loyalty to the company and the convenience of having a single billing for all their coverages.

Listed below are exclusive agents in Honolulu that are able to give comparison quotes.

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Independent Auto Insurance Agencies

Independent insurance agents do not sell for just one brand and that gives them the ability to insure through many different auto insurance companies and get the cheapest rates. If prices rise, they simply switch companies in-house which makes it simple for you. When comparing rates, it’s a good idea to get insurance quotes from independent agents to have the most options to choose from. Most can insure with companies that do not advertise much that can offer cheaper rates than bigger companies.

Listed below is a list of independent insurance agents in Honolulu who can help you get price quote information.

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Insurance in Hawaii serves several purposes

Despite the fact that insurance is not cheap in Honolulu, maintaining insurance is mandatory in Hawaii but it also protects more than you think.

The benefits of insuring your S40 greatly outweigh the cost, particularly when you have a large claim. Unknowingly, the average driver overpays more than $825 a year so compare rate quotes at every policy renewal to help ensure money is not being wasted.

Auto insurance coverage considerations

Learning about specific coverages of your auto insurance policy aids in choosing the best coverages and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and reading a policy is terribly boring.

Collision coverage – Collision insurance will pay to fix damage to your S40 from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage protects against claims like sideswiping another vehicle, hitting a parking meter and scraping a guard rail. This coverage can be expensive, so consider dropping it from vehicles that are older. Another option is to increase the deductible on your S40 in order to get cheaper collision rates.

Medical expense coverage – Coverage for medical payments and/or PIP pay for expenses like funeral costs, rehabilitation expenses, X-ray expenses and pain medications. They are utilized in addition to your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants as well as being hit by a car walking across the street. Personal Injury Protection is not available in all states but it provides additional coverages not offered by medical payments coverage

Uninsured or underinsured coverage – Uninsured or Underinsured Motorist coverage gives you protection from other drivers when they are uninsured or don’t have enough coverage. This coverage pays for hospital bills for your injuries as well as your vehicle’s damage.

Because many people have only the minimum liability required by law (20/40/10 in Hawaii), it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea.

Comprehensive protection – Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims such as hail damage, theft, a tree branch falling on your vehicle, damage from a tornado or hurricane and damage from flooding. The maximum amount your auto insurance company will pay is the cash value of the vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Liability insurance – Liability coverage will cover damages or injuries you inflict on people or other property in an accident. It protects you from legal claims by others, and does not provide coverage for damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You might see policy limits of 20/40/10 which stand for a $20,000 limit per person for injuries, a per accident bodily injury limit of $40,000, and a limit of $10,000 paid for damaged property.

Liability coverage protects against things such as structural damage, legal defense fees, loss of income and funeral expenses. How much liability coverage do you need? That is a decision to put some thought into, but you should buy as much as you can afford. Hawaii requires drivers to carry at least 20/40/10 but you should think about purchasing more coverage.

The illustration below shows why buying minimum limits may not be adequate coverage.

Which auto insurance company is best in Hawaii?

Buying coverage from a highly-rated auto insurance provider can be challenging considering how many choices there are in Honolulu. The company rank data in the lists below can help you pick which car insurance providers you want to consider purchasing from.

Best Auto Insurance Companies in Honolulu
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
USAA 98 100 100 94% A++ 98.6
American Family 98 89 100 86% A 95.4
State Farm 88 93 96 90% A++ 92.4
The Hartford 94 92 90 89% A+ 91.7
AAA Insurance 88 89 95 91% A 91.2
GEICO 84 93 93 89% A++ 90.3
Progressive 84 91 93 87% A+ 89.5
Allstate 85 90 92 88% A+ 89.3
Nationwide 87 88 84 90% A+ 88.7
Liberty Mutual 84 87 93 88% A 88.5
Esurance 85 80 95 87% A+ 85.9
Safeco 85 85 85 86% A 85.8
Farmers Insurance 78 87 88 79% A 84.3
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Data Source: Best Car Insurance Companies

Persistence is the key to affordable rates

In this article, we covered some good ideas how you can reduce Volvo S40 insurance prices online in Honolulu. The most important thing to understand is the more rate quotes you have, the better likelihood of getting affordable Honolulu car insurance quotes. Consumers could even find that the lowest prices are with the least-expected company.

Discount Volvo S40 insurance in Honolulu can be sourced from both online companies as well as from independent agents in Honolulu, and you need to price shop both to have the best rate selection. A few companies may not have the ability to get a quote online and usually these regional carriers work with local independent agents.

When searching for affordable Volvo S40 insurance quotes, do not buy less coverage just to save a little money. In too many instances, someone sacrificed physical damage coverage and learned later that it was a big mistake. The aim is to get the best coverage possible for the lowest cost, but do not sacrifice coverage to save money.

Much more information about insurance in Hawaii is located on the following sites: