No sane person looks forward to buying auto insurance, especially when they are aware that they could find better prices if they shop around.
Astonishing but true, most drivers in Hawaii have been with the same company for at least the last four years, and nearly 40% of drivers have never even shopped around for cheap coverage. With the average premium in the United States being $1,847, drivers can save as much as $850 each year just by shopping around, but most undervalue the actual amount they would save if they switch to a new company.
With consumers having so many online and local companies to choose from, it is hard for the average consumer to choose a more affordable auto insurance company.
Buying the cheapest car insurance in Honolulu is much easier if you know where to start. If you are already insured, you stand a good chance to be able to lower your rates using the ideas you’re about to read. Nevertheless, Hawaii car owners need to have an understanding of how big insurance companies market insurance on the web and use it to your advantage.
Decisions You Make Can Impact Your Insurance Rates
Consumers need to have an understanding of some of the factors that come into play when calculating the price you pay for auto insurance. When you know what positively or negatively influences your rates, this enables informed choices that can earn you lower premium levels.
The factors shown below are just a few of the factors used by your company to calculate your premiums.
- Accidents will cost you – Drivers with clean records get better prices compared to drivers with tickets. Just one ticket can boost insurance rates to the point where it’s not affordable. Drivers who get serious violations like DUI or willful reckless driving are required to maintain a SR-22 to the state department of motor vehicles in order to legally drive.
- GPS tracking and theft deterrents lowers prices – Selecting a car model that has a built-in theft deterrent system can save you some money. Theft deterrent systems such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all hinder your car from being stolen.
- Only buy incidental coverages you need – Insurance policies have a lot of extra add-on coverages you can purchase but may not be useful. Coverages for personal injury protection, accident forgiveness, and term life insurance could be just wasting money. You may think they are a good idea when talking to your agent, but if you have no use for them eliminate them to save money.
- Married drivers get better costs – Having a wife or husband can get you a discount on your policy. Having a significant other demonstrates that you tend to be less irresponsible it has been statistically shown that married drivers tend to file fewer claims.
- Drive lots and pay more – The more you drive each year the more it will cost to insure it. A lot of insurance companies charge rates based on how the vehicle is used. Autos not used for work or commuting get more affordable rates than cars that get driven a lot. It’s always a good idea to double check that your declarations sheet correctly shows the correct usage for each vehicle. Incorrect rating for your M2 can cost quite a bit.
BMW M2 historical loss data – Companies factor in historical loss data to help determine prices. Vehicles that statistically have higher number or severity of losses will have higher rates. The next table shows the collected loss data for BMW M2 vehicles.
For each insurance policy coverage type, the statistical loss for all vehicles averaged together is represented as 100. Numbers under 100 represent a good loss history, while percentage values above 100 indicate frequent claims or a tendency for claims to be larger.
Auto Insurance Loss Data for BMW M2 Models Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury BMW M235 i 2dr 155 277BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Persistent drivers can save
We just presented a lot of techniques to save on BMW M2 insurance in Honolulu. The most important thing to understand is the more providers you compare, the better likelihood of getting affordable Honolulu car insurance quotes. Drivers may even discover the lowest priced insurance comes from some of the lesser-known companies. They can often provide lower car insurance rates in certain areas than their larger competitors like State Farm or Progressive.
Some insurance companies may not offer rates over the internet and most of the time these smaller providers sell through independent agents. Discount BMW M2 insurance can be found online as well as from independent agents in Honolulu, so you should compare both to get a complete price analysis.
Steps to finding lower priced BMW M2 insurance in Honolulu
If your goal is the lowest price, then the best way to get affordable auto insurance rates is to compare quotes once a year from providers who provide car insurance in Honolulu. Rates can be compared by completing these steps.
- Try to learn about how car insurance works and the things you can control to prevent expensive coverage. Many rating criteria that cause high rates like speeding tickets, careless driving and a poor credit score can be remedied by making minor changes in your lifestyle.
- Obtain price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can give quotes from one company like GEICO and State Farm, while independent agencies can provide price quotes from multiple sources. Select a company
- Compare the price quotes to your current policy premium and see if there is a cheaper rate in Honolulu. If you find a lower rate and change companies, make sure there is no lapse between the expiration of your current policy and the new one.
- Provide written notification to your current company of your intention to cancel your current policy. Submit the completed application along with a down payment to the new company. Don’t forget to put the new certificate verifying coverage somewhere easily accessible.
A good piece of advice is to use the same coverage limits and deductibles on every quote and and to compare every insurance company. Doing this ensures a fair rate comparison and the most accurate and complete price analysis.
Additional information is located at these links:
- Understanding Car Crashes Video (iihs.org)
- Who Has Affordable Car Insurance for Unemployed Drivers in Honolulu? (FAQ)
- How Much are Car Insurance Quotes for a 20 Year Old Female in Honolulu? (FAQ)
- What Car Insurance is Cheapest for Seniors in Honolulu? (FAQ)
- How Much are Auto Insurance Quotes for a Hyundai Elantra in Honolulu? (FAQ)
- What Car Insurance is Cheapest for a Chevrolet Equinox in Honolulu? (FAQ)
- What is Full Coverage? (Allstate)
- What is a Telematics Device? (Allstate)
- Teen Driving and Texting (State Farm)