Astonishing but true according to a recent study, a large majority of consumers have purchased from the same company for at least the last four years, and 38% of customers have never shopped around. With the average auto insurance premium being $960, Honolulu drivers could save approximately $356 every year by just comparing rate quotes, but they just feel it’s too hard to find cheap rates by getting comparison quotes.
If saving the most money is your goal, then the best way to find low-cost prices for BMW X3 insurance is to start doing an annual price comparison from companies in Honolulu. Drivers can shop around by completing these steps.
- Step 1: Try to understand what coverages are included in your policy and the modifications you can make to drop your rates. Many policy risk factors that drive up the price like accidents, careless driving, and a less-than-favorable credit history can be remedied by making minor driving habit or lifestyle changes.
- Step 2: Compare price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only quote rates from one company like GEICO and State Farm, while agents who are independent can quote rates from multiple insurance companies. Compare rates
- Step 3: Compare the new quotes to your existing rates and see if there is a cheaper rate. If you find a better price and decide to switch, ensure there is no coverage lapse between policies.
- Step 4: Give notification to your agent or company of your decision to cancel your current policy and submit a down payment along with a completed application to the new insurer. Once received, place the new certificate verifying proof of insurance with your vehicle’s registration.
The most important part of this process is to compare identical limits and deductibles on each quote and to quote with as many companies as you can. Doing this provides a fair price comparison and a thorough selection of prices.
If you already have coverage or need new coverage, use these techniques to find the best rates without reducing protection. The intent of this article is to tell you the most effective way to quote insurance and how you can save the most money. Drivers just have to learn the quickest way to get comparison quotes online from multiple companies.
Discounts can help save money on BMW X3 insurance in Honolulu
Car insurance companies do not list every possible discount very clearly, so the below list has some of the best known as well as the least known credits available to lower your premiums when you buy Honolulu auto insurance online.
- Military Deployment Discount – Being on active deployment in the military could qualify you for better prices.
- Student Discount for Driver Training – Require your teen driver to enroll and complete driver’s education if it’s offered in school.
- Onboard Data Collection – People who choose to allow data collection to track vehicle usage by using a telematic data system such as Progressive’s Snapshot and State Farm’s In-Drive could save a few bucks as long as they are good drivers.
- Pay Early and Save – By making one initial payment rather than paying monthly you can avoid monthly service charges.
- Professional Organizations – Affiliation with certain professional organizations may earn a discount on your policy.
- Braking Control Discount – Cars, trucks, and SUVs equipped with ABS or steering control can stop better under adverse conditions and earn discounts up to 10%.
As a disclaimer on discounts, many deductions do not apply to the entire cost. A few only apply to individual premiums such as collision or personal injury protection. Just because you may think you could get a free auto insurance policy, company stockholders wouldn’t be very happy.
The illustration below shows the difference between BMW X3 car insurance rates with and without discounts. The price estimates are based on a female driver, no claims or driving citations, Hawaii state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, homeowner, claim-free, multi-policy, and safe-driver discounts applied.
A list of auto insurance companies and the discounts they provide are outlined below.
- Farm Bureau may have discounts that include multi-vehicle, multi-policy, good student, safe driver, renewal discount, driver training, and youthful driver.
- Liberty Mutual has discounts for exclusive group savings, newly retired, new vehicle discount, hybrid vehicle, and safety features.
- State Farm may include discounts for Steer Clear safe driver discount, Drive Safe & Save, driver’s education, defensive driving training, and passive restraint.
- Auto-Owners Insurance policyholders can earn discounts including good student, multi-policy, safe vehicle, anti-theft, group or association, paid in full, and air bags.
- GEICO offers premium reductions for military active duty, defensive driver, multi-policy, emergency military deployment, membership and employees, and air bags.
- SAFECO has savings for bundle discounts, drive less, anti-lock brakes, multi-car, and safe driver.
If you need lower rates, check with all the companies which discounts can lower your rates. A few discounts might not be available to policyholders everywhere. If you would like to view insurers that provide some of the discounts listed above in Hawaii, click here to view.
The following companies can provide free quotes in Hawaii. If multiple companies are listed, we recommend you visit several of them to get the most competitive price.
Coverage analysis
The coverage table below showcases different insurance premium costs for BMW X3 models. Having a good grasp of how prices are established is important to be able to make decisions on the best policy coverages.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| X3 3.0I xDrive AWD 4-Dr | $160 | $312 | $248 | $14 | $74 | $808 | $67 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Hawaii minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Premium costs do not factor in vehicle location which can impact auto insurance rates significantly.
How high should deductibles be?
One common question asked by Honolulu drivers is which comprehensive and collision deductibles to buy. The following insurance rates can help you visualize the rate fluctuation of buying low and high deductibles. The first set of rates uses a $100 comprehensive and collision deductible and the second price chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| X3 3.0I xDrive AWD 4-Dr | $286 | $558 | $264 | $16 | $80 | $1,229 | $102 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| X3 3.0I xDrive AWD 4-Dr | $158 | $294 | $264 | $16 | $80 | $812 | $68 |
| Get Your Own Custom Quote Go | |||||||
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, multi-policy, safe-driver, and claim-free. Rate information does not factor in specific location information which can modify coverage rates significantly.
We can estimate from the data above that using a $100 deductible will cost you approximately $34 more each month or $408 every year than selecting the higher $1,000 deductible. Since the policyholder would be required to pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you go at least 26 months between claim filings, you would more than likely save some money if you elect the higher deductible.
How to calculate if a higher deductible is a good decision
| Average monthly premium for $100 deductibles: | $102 |
| Average monthly premium for $1,000 deductibles (subtract): | – $68 |
| Monthly savings from raising deductible: | $34 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $34 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 26 months |
The example below shows how different deductible levels and can affect BMW X3 insurance prices for different ages of insureds. The costs are based on a married male driver, full coverage, and no other discounts are factored in.
BMW X3 insurance rates: Men versus women
The chart below compares BMW X3 annual premium costs for male and female drivers. The rate quotes are based on no claims, a clean driving record, comp and collision included, $250 deductibles, single status, and no discounts are taken into consideration.
Full coverage or liability only
The chart below shows the difference between BMW X3 annual premium costs when comparing full coverage to state minimum liability only. Data assumes no accidents or driving violations, $1,000 deductibles, drivers are not married, and no discounts are applied.
Should you pay for full coverage?
There is no definitive formula of when to exclude physical damage coverage, but there is a guideline you can use. If the annual cost of having full coverage is about 10% or more of the replacement cost minus the deductible, then you might consider buying liability only.
For example, let’s pretend your BMW X3 replacement cost is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would receive is $2,000 after you pay the deductible. If premium cost is more than $200 annually for physical damage coverage, then you may want to consider only buying liability coverage.
There are a few situations where eliminating full coverage is not a good plan. If you still owe money on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not consider dropping full coverage.
Lower Your Honolulu Insurance Costs
Lots of factors are part of the calculation when you quote your car insurance policy. Some are pretty understandable such as your driving history, but some are less apparent like your continuous coverage or your vehicle rating.
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Good drivers pay less – Your driving record has a lot to do with how much you pay for insurance. Even one chargeable violation may increase your cost by as much as twenty percent. Drivers with clean records have lower premiums as compared to careless drivers. People who have license-revoking violations such as DWI, reckless driving or hit and run convictions may be required to submit a SR-22 form with the DMV in their state in order to prevent a license revocation.
The illustration below shows how speeding tickets and at-fault accidents drive up BMW X3 annual premium costs for different categories of driver ages. The premium estimates are based on a married female driver, full coverage, $100 deductibles, and no additional discounts are factored in.
- Stay claim-free and lower premiums – Companies in Hawaii generally give discounts to people who only file infrequent claims. If you file claims often, you can expect either policy cancellation or increased premiums. Insurance coverage is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
- Annual mileage and car insurance premiums – The more miles you rack up on your BMW in a year’s time the more you will pay for insurance. The majority of insurers price each vehicle’s coverage based upon how the vehicle is primarily used. Cars used primarily for pleasure use can get a lower rate than vehicles that have high annual mileage. Double check that your vehicle rating reflects how each vehicle is driven, because it can save money. An improperly rated X3 may be costing you.
- Know your vehicle’s safety rating – Vehicles that have high safety ratings are cheaper to insure. These vehicles help reduce the chance of injuries in an accident and better occupant protection means your insurance company pays less and cheaper rates on your policy.
- Better premiums with anti-theft devices – Selecting a car model with a theft deterrent system can save you some money. Theft prevention devices such as OnStar, LoJack tracking, and tamper alarms all aid in stopping car theft and help bring rates down.
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Insurance loss probability for a BMW X3 – Auto insurance companies take into consideration historical loss data for every vehicle when they set coverage costs for each model. Vehicles that the data determines to have increased losses will have increased rates.
The data below shows the collected loss data for BMW X3 vehicles. For each coverage category, the statistical loss for all vehicles compiled together is represented as 100. Percentage numbers below 100 mean the vehicle has better than average losses, while percentage numbers above 100 indicate more frequent losses or a tendency for losses to be larger than average.
Auto Insurance Loss Data for BMW X3 Models Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury BMW X3 4dr 2WD 122 99 BMW X3 4dr 4WD 109 93 117 69 64 76 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Insurance can be complex
Keep in mind that when it comes to choosing coverage for your vehicles, there really isn’t a one size fits all plan. Your needs are unique to you and a cookie cutter policy won’t apply. For example, these questions may help highlight whether you may require specific advice.
- Is pleasure use cheaper than using my BMW X3 to commute?
- Do I need an umbrella policy?
- What is medical payments coverage?
- Am I covered when driving someone else’s vehicle?
- At what point should I drop full coverage?
- Am I covered when driving on a suspended license?
- Should I buy additional glass protection?
- Can I make deliveries for my home business?
- Does my liability insurance cover pulling a trailer or camper?
- How high should deductibles be on a BMW X3?
If you can’t answer these questions but a few of them apply, you may need to chat with a licensed agent. To find an agent in your area, complete this form or you can also visit this page to select a carrier It’s fast, free and can provide invaluable advice.
Auto insurance is available from local insurance agents
Some consumers just want to buy from a local agent and that is not a bad decision Experienced insurance agents will help you protect your assets and help you file claims. The best thing about comparing auto insurance online is that you can find lower car insurance rates and also buy local.
Once you complete this short form, your insurance coverage information is sent to companies in Honolulu who will give competitive quotes for your auto insurance coverage. There is no need to contact any agents because quoted prices will be sent to you instantly. If you wish to get a price quote from a specific insurance company, you can always navigate to their website and fill out the quote form the provide.
Picking a company should depend on more than just the bottom line cost. You should also get answers to these questions.
- Do they receive special compensation for putting your coverage with one company over another?
- Does the quote include credit and driving reports?
- Does the agency support the community they serve?
- How much will you save each year by using a higher deductible?
- If they are an independent agency in Honolulu, which companies do they recommend?
Best car insurance agent in Honolulu
When looking for a reliable agent, there are a couple of types of insurance agents and how they differ in how they quote coverages. Auto insurance agents can either be exclusive agents or independent agents. Both types of agents can write policy coverage, but it’s worth mentioning the difference between them since it can impact buying decisions.
Exclusive Insurance Agents
Agents in the exclusive channel work for only one company and some examples include Allstate, State Farm and Farmers Insurance. Exclusive agencies are unable to give you multiple price quotes so you might not find the best rates. Exclusive insurance agents receive extensive training on what they offer and that enables them to sell even at higher rates. Drivers often choose to use a exclusive agent mostly because of the brand legacy and strong financial ratings.
Below is a list of exclusive insurance agents in Honolulu that are able to give comparison quotes.
- Scott Saito – State Farm Insurance Agent
1150 S King St #901d – Honolulu, HI 96814 – (808) 946-8464 – View Map - Allstate Insurance: Matthew Shido
3221 Waialae Ave Ste 386 – Honolulu, HI 96816 – (808) 737-3500 – View Map - Dean Nomura – State Farm Insurance Agent
1215 Hunakai St #203 – Honolulu, HI 96816 – (808) 737-5662 – View Map
Independent Insurance Agents
These agents are not restricted to one company so they can insure your vehicles through many companies and potentially find a lower price. To move your coverage to a new company, your agent can just switch to a different company which requires no work on your part.
When searching for an agent, you need to get quotes from several independent insurance agents for maximum quote selection. They also have the ability to place coverage with smaller regional carriers that may provide cheaper auto insurance rates.
Below are Honolulu independent agencies who can help you get comparison quotes.
- Royal State National Insurance Company
819 S Beretania St – Honolulu, HI 96813 – (808) 539-1600 – View Map - Rosten Y Tsuha Insurance Agency Inc
1350 S King St #303 – Honolulu, HI 96814 – (808) 591-5545 – View Map - Cavanah Associates, Inc.
1100 Alakea St #2600 – Honolulu, HI 96813 – (808) 537-1970 – View Map
Three main reasons to buy car insurance
Despite the high cost of buying insurance for a BMW X3 in Honolulu, car insurance may be mandatory for several reasons.
- Almost all states have minimum liability requirements which means you are required to carry a minimum amount of liability protection 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.
- If you have a lien on your BMW, most lenders will make it mandatory that you have physical damage coverage to guarantee payment of the loan. If you do not pay your insurance premiums, the lender will be forced to insure your BMW for a lot more money and require you to fork over the higher premium.
- Car insurance protects your BMW and your assets. Insurance will also pay for many types of medical costs for both you and anyone you injure as the result of an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if you are sued as the result of your driving. If damage is caused by hail or an accident, collision and comprehensive coverages will pay all costs to repair after the deductible has been paid.
The benefits of carrying enough insurance are definitely more than the cost, especially if you ever need it. According to a survey of 1,000 drivers, the average driver is overpaying more than $750 every year so you should quote rates at least once a year to help ensure money is not being wasted.
Hawaii car insurance companies ranked
Insuring your vehicle with the highest-rated auto insurance company can be a challenge considering how many different companies sell coverage in Honolulu. The ranking data shown next could help you analyze which coverage providers to look at to insure your vehicles.
Top 10 Honolulu Car Insurance Companies Overall
- USAA
- American Family
- State Farm
- The Hartford
- AAA Insurance
- GEICO
- Progressive
- Allstate
- Nationwide
- Liberty Mutual
In conclusion
As you quote Honolulu auto insurance, make sure you don’t buy less coverage just to save a little money. In many instances, drivers have reduced liability coverage limits to discover at claim time that saving that couple of dollars actually costed them tens of thousands. Your goal is to buy the best coverage you can find at an affordable rate while still protecting your assets.
Some companies may not offer rate quotes online and these small insurance companies prefer to sell through independent insurance agencies. Cheaper car insurance in Honolulu can be sourced on the web in addition to many Honolulu insurance agents, and you should be comparing both to have the best selection.
More information is located at the links below
- Keeping Children Safe in Crashes Video (iihs.org)
- Who Has Affordable Honolulu Auto Insurance for Real Estate Agents? (FAQ)
- What Car Insurance is Cheapest for a Ford Edge in Honolulu? (FAQ)
- Who Has Cheap Car Insurance for Good Students in Honolulu? (FAQ)
- Comprehensive Coverage (Liberty Mutual)
- Senior Drivers (Insurance Information Institute)
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)
- Bodily Injury Coverage (Liberty Mutual)