Cheap Insurance for a Kia Soul in Honolulu

Discount Kia Soul insuranceThe recommended way to get the cheapest Kia Soul insurance in Honolulu is to annually compare prices from providers who provide auto insurance in Hawaii.

The critical component of shopping around is to make sure you’re comparing the same physical damage deductibles and liability limits on every price quote and and to get rates from as many car insurance companies as possible. Doing this guarantees a fair price comparison and the best rate selection.

A recent auto insurance study discovered that most auto insurance buyers have been with the same company for at least the last four years, and nearly the majority have never compared auto insurance rates at all. Honolulu drivers can cut their rates by 40% a year by just comparing rate quotes, but they feel it’s too difficult to save money by comparing rate quotes.

The following companies provide quotes in Honolulu, HI. If multiple providers are shown, we recommend you visit as many as you can in order to get a fair rate comparison.

Car insurance is not optional in Hawaii

Even though Honolulu Soul insurance rates can get expensive, paying for car insurance serves several important purposes.

The benefits of having insurance outweigh the cost, particularly when you have a large claim. The average driver in Hawaii is currently overpaying as much as $810 a year so we recommend shopping around each time the policy renews to save money.

Rate information and statistics

The rate table shown next highlights a range of prices for Kia Soul models. Having a better idea how policy rates are formulated can assist in making informed decisions when shopping around for a new policy.

Kia Soul Insurance Rates in Honolulu, HI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Soul $128 $230 $248 $14 $74 $694 $58
Soul Plus $128 $230 $248 $14 $74 $694 $58
Soul Exclaim $144 $230 $248 $14 $74 $710 $59
Soul Sport $144 $230 $248 $14 $74 $710 $59
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Data rating is based on married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Hawaii minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Premium costs do not factor in specific zip code location which can lower or raise premiums substantially.

Choosing deductibles

When buying auto insurance, a common question is how high should the physical damage deductibles be. The rates below can help illustrate the differences in price when you select higher and lower coverage deductibles. The first rate estimation uses a $100 comprehensive and collision deductible and the second set of rates uses a $1,000 deductible.

Kia Soul insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Soul $228 $412 $264 $16 $80 $1,025 $85
Soul Plus $228 $412 $264 $16 $80 $1,025 $85
Soul Exclaim $258 $412 $264 $16 $80 $1,055 $88
Soul Sport $258 $412 $264 $16 $80 $1,055 $88
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Kia Soul insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Soul $126 $216 $264 $16 $80 $702 $59
Soul Plus $126 $216 $264 $16 $80 $702 $59
Soul Exclaim $142 $216 $264 $16 $80 $718 $60
Soul Sport $142 $216 $264 $16 $80 $718 $60
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Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Hawaii minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Premium amounts do not factor in vehicle garaging location which can decrease or increase price quotes greatly.

Based on this data, we can arrive at the conclusion that using a $100 deductible could cost the average driver approximately $27 more each month or $324 annually than choosing the higher $1,000 deductible. Since you would pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to average more than 33 months between claims, you would probably be better off by selecting a higher deductible.

How to determine if raising deductibles makes sense

Average monthly premium for $100 deductibles: $87
Average monthly premium for $1,000 deductibles (subtract): – $60
Monthly savings from raising deductible: $27
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $27
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 33 months

An important thing to remember is that a higher deductible level means you will have to pay more of your own money at claim time. You should have some savings in the event you have to pay the deductible for vehicle repair.

The example below demonstrates how deductible levels and can impact Kia Soul yearly insurance costs for each different age category. The premiums are based on a married male driver, comp and collision included, and no policy discounts are applied.

Kia Soul insurance premiums by gender

The diagram below illustrates the comparison of Kia Soul insurance costs for male and female drivers. The data assumes no accidents, no driving violations, full physical damage coverage, $500 deductibles, marital status is single, and no other discounts are factored in.

Cost comparison with and without full coverage

The example below compares Kia Soul auto insurance costs when comparing full coverage to state minimum liability only. The prices are based on no violations or accidents, $100 deductibles, single marital status, and no discounts are applied to the premium.

When to eliminate full coverage

There isn’t a written rule to delete physical damage insurance, but there is a guideline you can consider. If the yearly cost of full coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.

For example, let’s say your Kia Soul book value is $6,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, you would only receive $5,000 after paying the physical damage deductible. If you are currently paying more than $500 annually to have full coverage, then you might consider buying liability only.

There are some situations where dropping full coverage is not a good idea. If you still have a loan on your vehicle, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not buy liability only.

Take policy discounts and save on Kia Soul insurance in Honolulu

Not many people think insurance is cheap, but there’s a good chance there are discounts that many people don’t even know exist. Some discounts apply automatically when you purchase, but some need to be asked about before being credited.Save money with discounts

A quick disclaimer, most discount credits are not given to the overall cost of the policy. Most only reduce the price of certain insurance coverages like liability and collision coverage. Even though the math looks like you would end up receiving a 100% discount, you’re out of luck. Any qualifying discounts will cut your premiums.

The example below visualizes the comparison of Kia Soul insurance costs with and without discounts being applied to the rates. The premium estimates are based on a female driver, no driving violations, no at-fault accidents, Hawaii state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, multi-car, homeowner, marriage, and safe-driver discounts applied.

Larger car insurance companies and a partial list of their discounts are shown below.

When quoting, ask every company which discounts they offer. Some of the discounts discussed earlier might not apply everywhere. If you would like to choose from a list of companies who offer online Kia Soul insurance quotes in Honolulu, follow this link.