Cheap Insurance for a Kia Soul in Honolulu

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

• First, take a few minutes and learn about how auto insurance works and the measures you can take to keep rates low. Many rating criteria that are responsible for high rates such as at-fault accidents, careless driving, and an imperfect credit score can be improved by making lifestyle changes or driving safer.
• Second, obtain price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from one company like GEICO and State Farm, while independent agencies can provide prices from many different companies.
• Third, compare the new quotes to your existing policy to determine if you can save on Soul insurance. If you find a lower rate quote and decide to switch, verify that coverage does not lapse between policies.

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.

• Just about all states have minimum liability requirements which means it is punishable by state law to not carry a minimum amount of liability coverage in order to drive the car legally. 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 took out a loan on your Soul, most lenders will make it mandatory that you carry insurance to protect their interest in the vehicle. If you do not keep the policy in force, the bank or lender will purchase a policy for your Kia for a much higher rate and require you to fork over for the much more expensive policy.
• Car insurance protects both your assets and your Kia. It will also reimburse you for medical expenses incurred in an accident. Liability insurance, one of your policy coverages, will also pay attorney fees if anyone sues you for causing an accident. If mother nature or an accident damages your car, comprehensive and/or collision insurance will pay to restore your vehicle to like-new condition.

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.

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.

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.

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.

• Professional Memberships – Being a member of specific professional or occupational memberships or organizations may earn a discount on your bill.
• Auto/Life Discount – Insurance carriers who offer life insurance give a discount if you purchase life insurance.
• Good Student – Maintaining excellent grades can earn a discount of 20% or more. Most companies allow this discount up until you turn 25.
• Drive Safe and Save – Insureds without accidents can pay as much as 50% less as compared to drivers with claims.
• Active Military Service – Having an actively deployed family member could mean lower car insurance rates.
• Savings for New Vehicles – Insuring a vehicle that is new can cost up to 25% less because newer models keep occupants safer.
• Government Employees – Active or retired federal employment may qualify for a discount when you quote Honolulu auto insurance with some car insurance companies.
• Policy Bundle Discount – When you have multiple policies with the same company you may earn as much as 10 to 15 percent.
• Passive Restraints – Vehicles equipped with air bags or motorized seat belts may get savings of up to 25% or more.
• College Student – Children who attend college more than 100 miles from Honolulu without a vehicle on campus may be able to be covered for less.

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.

• American Family discounts include mySafetyValet, TimeAway discount, bundled insurance, accident-free, and Steer into Savings.
• Farm Bureau offers discounts including renewal discount, multi-policy, youthful driver, multi-vehicle, safe driver, good student, and 55 and retired.
• State Farm may offer discounts for Steer Clear safe driver discount, passive restraint, good student, Drive Safe & Save, and accident-free.
• Travelers has discounts for home ownership, multi-car, hybrid/electric vehicle, driver training, and multi-policy.
• The Hartford includes discounts for bundle, driver training, air bag, good student, and defensive driver.
• GEICO offers discounts for seat belt use, federal employee, membership and employees, good student, and anti-lock brakes.
• Progressive may include discounts for multi-vehicle, good student, homeowner, online signing, continuous coverage, online quote discount, and multi-policy.

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.