Did you come to the realization that you have an overpriced car insurance policy? It’s quite common and you’re not alone.
A recent car insurance study revealed that the vast majority of car insurance customers kept their policy with the same company for a minimum of four years, and approximately 38% of consumers have never compared rate quotes at all. The average driver in Honolulu could save themselves roughly 40% a year, but they don’t want to spend time to shop around. Insurance companies such as Progressive, GEICO and Farmers Insurance all promote huge savings with ads and it is challenging if not impossible to avoid their marketing magic and find the best price available.
If you have insurance now or just want to save money, use these techniques to lower your rates without reducing protection. Finding the cheapest car insurance coverage in Honolulu is actually not that difficult if you follow our advice. Smart shoppers only have to learn the fastest way to find the lowest price instantly.
How Insurers Calculate Toyota Corolla iM Insurance Costs
Many things are taken into consideration when you get a price on insurance. Some are obvious such as your driving history, although others are more transparent like your continuous coverage or your vehicle rating.
The following are some of the things that factor into prices.
- Get hitched and get cheaper premiums – Having a spouse actually saves money on your insurance policy. Marriage means you’re more stable financially and statistics show drivers who are married file infrequent claims.
- Drivers with excellent credit save – Having a bad credit rating is a large factor in calculating your insurance rates. Insureds that have very good credit scores tend to be more responsible than those with poor credit scores. So if your credit history could use some work, you could save money insuring your Toyota Corolla iM if you improve your credit rating.
- How much liability – Liability coverage will provide protection if you are ruled to be at fault for personal injury or accident damage. Your policy’s liability insurance provides legal defense coverage starting from day one. Liability insurance is quite affordable compared to other policy coverages, so drivers should carry high limits.
- Mature drivers pay less – Older insureds are viewed as being more responsible, tend to file fewer claims, and tend to be get fewer driving tickets. Drivers with little experience are proven to be more careless behind the wheel and because of this, their insurance rates are much higher.
Discount Honolulu auto insurance quotes
Some insurers do not list their entire list of discounts in an easy-to-find place, so we break down both the well known and also the more inconspicuous discounts you could be receiving when you buy Honolulu car insurance online. If they aren’t giving you every credit available, you’re paying more than you need to.
- Savings for New Vehicles – Insuring a vehicle that is new can save you some money because newer vehicles have to meet stringent safety requirements.
- Drivers Education – Cut your cost by having your teen driver enroll in driver’s education if it’s offered in school.
- Responsible Driver Discounts – Insureds who avoid accidents may receive a discount up to 45% than drivers with accidents.
- Government Employees – Federal government employees can earn a discount up to 10% with select insurance companies.
- Anti-lock Brake System – Vehicles that have steering control and anti-lock brakes have fewer accidents so companies give up to a 10% discount.
While discounts sound great, it’s important to understand that most of the big mark downs will not be given to the entire cost. Most only reduce individual premiums such as physical damage coverage or medical payments. Despite the fact that it seems like you could get a free auto insurance policy, it just doesn’t work that way. Any qualifying discounts will definitely lower your policy cost.
A few of the larger companies and some of their more popular discounts are detailed below.
- Farmers Insurance may include discounts for switch companies, electronic funds transfer, pay in full, alternative fuel, early shopping, and bundle discounts.
- Esurance has savings for online quote, Switch & Save, homeowner, multi-policy, renters, multi-car, and good driver.
- State Farm may have discounts that include student away at school, defensive driving training, safe vehicle, good student, Drive Safe & Save, and good driver.
- GEICO may offer discounts for defensive driver, driver training, emergency military deployment, membership and employees, and seat belt use.
- Allstate includes discounts for good payer, premier plus, defensive driver, farm vehicle, resident student, and eSmart discount.
Before buying, ask each insurance company which discounts you qualify for. Some of the earlier mentioned discounts may not apply in Honolulu. To find auto insurance companies that offer some of these discounts in Hawaii, follow this link.
Car insurance companies ranked
Finding a highly-rated auto insurance provider can be a challenge considering how many companies sell coverage in Honolulu. The rank data in the next section can help you select which coverage providers to look at when comparing rates.
Top 10 Honolulu Car Insurance Companies Overall
- American Family
- State Farm
- The Hartford
- AAA Insurance
- Liberty Mutual
Find affordable rates by being thorough
As you restructure your insurance plan, don’t be tempted to buy lower coverage limits just to save a few bucks. In too many instances, drivers have reduced liability coverage limits only to regret that the savings was not a smart move. Your goal is to buy a smart amount of coverage at the best price and still be able to protect your assets.
We covered many ways to compare Toyota Corolla iM insurance car insurance rates in Honolulu. The most important thing to understand is the more you quote Honolulu car insurance, the better your comparison will be. You may even find the most savings is with the least-expected company. Smaller companies may cover specific market segments cheaper compared to the large companies like Allstate and Progressive.
How to find low-cost Toyota Corolla iM insurance in Honolulu
The best way to find better pricing on Toyota Corolla iM insurance in Honolulu is to make a habit of regularly comparing prices from insurers who provide auto insurance in Hawaii.
- Step 1: Try to learn about how companies price auto insurance and the modifications you can make to drop your rates. Many risk factors that cause high rates such as distracted driving and a poor credit rating can be amended by paying attention to minor details.
- Step 2: Request price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can provide rates from one company like Progressive or State Farm, while agents who are independent can quote prices for many different companies.
- Step 3: Compare the new rate quotes to your existing coverage to see if you can save by switching companies. If you find a lower rate and switch companies, ensure coverage does not lapse between policies.
- Step 4: Provide notification to your current agent or company to cancel your existing policy and submit payment along with a signed and completed policy application to the newly selected company. When you receive it, safely store the proof of insurance paperwork with the vehicle registration.
One piece of advice is to compare the same amount of coverage on each quote request and and to analyze every company you can. This guarantees an apples-to-apples comparison and a complete price analysis.
More detailed insurance information can be found in these articles:
- What are my Rights when Filing a Claim? (Insurance Information Institute)
- Who Has Cheap Auto Insurance Quotes for a Honda Pilot in Honolulu? (FAQ)
- Who Has Affordable Honolulu Auto Insurance for Used Cars? (FAQ)
- Who Has the Cheapest Honolulu Auto Insurance Quotes for Ride Shares? (FAQ)
- Comprehensive Coverage (Liberty Mutual)
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)
- Distracted Driving Statistics (Insurance Information Institute)
- Information for Teen Drivers (GEICO)