Want more affordable auto insurance rates in Honolulu, HI? Honolulu buyers have many options when searching for affordable Toyota Land Cruiser insurance. They can either spend hours struggling with agents trying to get quotes or utilize the internet to find the lowest rates. There are more efficient ways to buy auto insurance so we’re going to tell you the best way to compare rates for your Toyota and obtain the lowest price from both online companies and Honolulu agents.
It goes without saying that car insurance companies don’t want you comparing rates. Drivers who get price quotes annually are highly likely to move their business because they have a good chance of finding lower rate quotes. A study discovered that consumers who compared prices regularly saved as much as $70 a month as compared to drivers who never shopped for cheaper rates.
If finding the lowest rates on Toyota Land Cruiser insurance is the reason you’re reading this, then learning about how to shop and compare insurance premiums can help simplify the process.
Consumers need to compare premium rates once or twice a year because auto insurance prices are usually higher with each renewal. Just because you found the lowest rates on Toyota Land Cruiser insurance in Honolulu at your last renewal you can probably find a better rate quote now. Forget anything you know (or think you know) about auto insurance because you’re about to learn the right way to save money, get proper deductibles and limits, all at the lowest rate.
Rates and statistics
The table shown next covers estimates of insurance prices for Toyota Land Cruiser models. Being aware of how insurance prices are formulated can assist in making smart choices when comparing insurance quotes.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Prices based on married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Hawaii minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Price estimates do not factor in specific location information which can influence premium rates significantly.
The example below highlights how deductible selection and can affect Toyota Land Cruiser yearly insurance costs for different age groups. The costs are based on a married female driver, comp and collision included, and no discounts are applied.
Difference between liability only and full coverage rates
The chart below shows the difference between Toyota Land Cruiser insurance costs with full coverage compared to only the Hawaii minimum liability coverage. The data assumes no tickets, no at-fault accidents, $250 deductibles, marital status is single, and no discounts are taken into consideration.
Should you buy full coverage or liability only?
There is no exact formula that works best for making the decision to drop physical damage coverage on your policy, but there is a broad guideline. If the annual cost of your full coverage insurance is 10% or more of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.
For example, let’s pretend your Toyota Land Cruiser replacement value is $8,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $7,000 after the policy deductible has been paid. If you are paying in excess of $700 a year for full coverage, then it might be time to consider dropping full coverage.
There are some scenarios where only buying liability is not a good idea. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should keep full coverage.
Which auto insurance company is best in Honolulu?
Selecting the right car insurance provider can be difficult considering how many companies are available to choose from in Honolulu. The company rank data below can help you analyze which auto insurers you want to consider when looking for cheaper rates.
Top 10 Honolulu Car Insurance Companies by A.M. Best Rank
- USAA – A++
- State Farm – A++
- GEICO – A++
- Esurance – A+
- Nationwide – A+
- Allstate – A+
- Progressive – A+
- The Hartford – A+
- AAA Insurance – A
- Liberty Mutual – A
Top 10 Honolulu Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 94%
- AAA Insurance – 91%
- State Farm – 90%
- Nationwide – 90%
- The Hartford – 89%
- GEICO – 89%
- Liberty Mutual – 88%
- Allstate – 88%
- Esurance – 87%
- Progressive – 87%
Insurance policy specifics
Learning about specific coverages of your insurance policy can help you determine which coverages you need and the correct deductibles and limits. Insurance terms can be ambiguous and nobody wants to actually read their policy.
This coverage covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage pays for things such as a tree branch falling on your vehicle, damage from flooding, fire damage and a broken windshield. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.
Liability auto insurance
This will cover damage or injury you incur to people or other property. This insurance protects YOU against claims from other people. It does not cover your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 20/40/10 that translate to $20,000 in coverage for each person’s injuries, a total of $40,000 of bodily injury coverage per accident, and a limit of $10,000 paid for damaged property.
Liability coverage pays for things such as medical services, bail bonds, court costs and medical expenses. How much liability coverage do you need? That is up to you, but buy as large an amount as possible. Hawaii state law requires minimum liability limits of 20/40/10 but drivers should carry better liability coverage.
The next chart shows why buying minimum limits may not be enough.
Collision coverage protection
Collision insurance pays to fix your vehicle from damage caused by collision with another car or object. You have to pay a deductible then your collision coverage will kick in.
Collision coverage pays for things like crashing into a building, hitting a parking meter, rolling your car, colliding with a tree and sustaining damage from a pot hole. This coverage can be expensive, so you might think about dropping it from lower value vehicles. Drivers also have the option to increase the deductible on your Land Cruiser to bring the cost down.
Medical expense coverage
Medical payments and Personal Injury Protection insurance provide coverage for expenses for things like hospital visits, nursing services and ambulance fees. The coverages can be used to cover expenses not covered by your health insurance program or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay
Uninsured or underinsured coverage
Your UM/UIM coverage provides protection from other motorists when they do not carry enough liability coverage. Covered losses include hospital bills for your injuries and also any damage incurred to your Toyota Land Cruiser.
Because many people only carry the minimum required liability limits (which is 20/40/10), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.
Compare auto insurance rates regularly to save
While you’re price shopping online, it’s a bad idea to buy less coverage just to save a little money. In too many instances, drivers have reduced liability limits or collision coverage and found out when filing a claim that it was a big error on their part. Your goal should be to buy enough coverage at a price you can afford, but don’t skip important coverages to save money.
People change insurance companies for many reasons like not issuing a premium refund, poor customer service, policy non-renewal and even unfair underwriting practices. It doesn’t matter what your reason, switching auto insurance companies can be pretty painless.
Budget-friendly auto insurance in Honolulu can be found both online as well as from independent agents in Honolulu, and you need to price shop both to have the best chance of lowering rates. Some auto insurance companies may not have rate quotes online and these small insurance companies prefer to sell through independent agencies.
Steps to buying affordable Toyota Land Cruiser insurance in Honolulu
The recommended way to get discount Toyota Land Cruiser insurance is to start comparing rates regularly from insurers who sell insurance in Honolulu.
- First, gain an understanding of policy coverages and the measures you can take to prevent expensive coverage. Many policy risk factors that cause high rates like accidents, careless driving, and an imperfect credit history can be amended by making minor changes in your lifestyle.
- Second, quote rates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can provide rates from a single company like GEICO and Allstate, while independent agencies can provide prices from multiple companies. View prices
- Third, compare the new rate quotes to your current policy and determine if there is any savings. If you find better rates and switch companies, ensure there is no coverage lapse between policies.
- Fourth, provide proper notification to your current company of your intention to cancel your current coverage. Submit payment along with a signed and completed policy application for your new coverage. Once the paperwork is finalized, put the certificate verifying proof of insurance with your registration paperwork.
One bit of advice is to use the same coverage limits and deductibles on each quote request and and to get price quotes from every insurance company. This ensures an accurate price comparison and and a good selection of different prices.
Even more information is available at these sites:
- Distracted Driving (Insurance Information Institute)
- Who Has Cheap Car Insurance Rates for Drivers Requiring a SR22 in Honolulu? (FAQ)
- Who Has the Cheapest Auto Insurance for Drivers Over Age 60 in Honolulu? (FAQ)
- Who Has Cheap Auto Insurance for High Risk Drivers in Honolulu? (FAQ)
- Who Has Cheap Honolulu Auto Insurance for Drivers with Good Credit? (FAQ)
- If I File a Claim will My Insurance Go Up? (Insurance Information Institute)
- Speed and Speed Limit FAQ (iihs.org)
- Airbag FAQ (iihs.org)
- Preventing Carjacking and Theft (Insurance Information Institute)