Save Money on Toyota Sequoia Insurance in Honolulu

Scraping up a payment for overpriced Toyota Sequoia insurance in Honolulu can bleed your savings and force you to prioritize other expenses. Doing a price comparison is recommended to make sure you’re not throwing money away.

Insurance quote for Toyota Sequoia in HonoluluRegrettably, almost 70% of drivers in Hawaii have stayed with the same insurance company for well over three years, and roughly 40% of drivers have never even shopped around for affordable coverage. American drivers could pocket $860 a year by just shopping around, but they don’t invest the time required to save money by comparing rate quotes.

How to find cheaper Toyota Sequoia insurance in Honolulu

If you want to find the absolute lowest rates, then the best way to quote cheaper car insurance rates in Honolulu is to compare prices regularly from insurers who can sell car insurance in Hawaii.

Step 1: Get a basic knowledge of what coverages are included in your policy and the things you can change to drop your rates. Many rating criteria that result in higher rates such as high-risk driving behaviors and an unacceptable credit rating can be improved by making small lifestyle or driving habit changes.

Step 2: Compare prices from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can give quotes from a single company like Progressive or State Farm, while agents who are independent can quote rates for a wide range of companies.

Step 3: Compare the new rate quotes to your current policy to see if a cheaper price is available in Honolulu. If you find a lower rate and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.

Step 4: Provide proper notification to your current company to cancel your existing policy. Submit the application along with any required down payment to the new company. Be sure to put the new certificate verifying coverage along with the vehicle’s registration papers.

The key thing to know about shopping around is that you’ll want to make sure you compare similar deductibles and liability limits on each price quote and and to look at as many companies as feasibly possible. This provides a fair rate comparison and a complete price analysis.

Popular companies such as Allstate, Progressive and GEICO constantly blast consumers with TV and radio ads and it can be hard to separate fact from fiction and do the work needed to find the best deal.

Consumers need to compare premium rates quite often because rates are rarely the same from one policy term to another. Even if you got the best rate on Toyota Sequoia insurance in Honolulu a year ago the chances are good that you can find a lower price today. There is too much inaccurate information about Sequoia insurance online, but in just a couple of minutes you can learn a bunch of ideas how to reduce your car insurance bill.

If you already have coverage, you stand a good chance to be able to get lower rates using the ideas you’re about to read. Finding the cheapest insurance coverage in Honolulu is actually very simple if you learn how to start. But Hawaii consumers benefit from understanding the way insurance companies compete online and use it to your advantage.

When comparing auto insurance rates, know that comparing a large number of companies helps increase your odds of locating better pricing. Some companies don’t provide online rate quotes, so you also need to get price estimates from those companies as well.

The providers in the list below are ready to provide quotes in Hawaii. If more than one company is shown, we recommend you visit two to three different companies in order to find the most affordable rates.

Coverage statistics and figures

The coverage table shown below covers different prices for Toyota Sequoia models. Learning how prices are calculated can help you make smart choices when buying a car insurance policy.

Toyota Sequoia Insurance Rates in Honolulu, HI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sequoia SR/5 2WD $112 $184 $254 $16 $76 $642 $54
Sequoia SR/5 4WD $112 $218 $254 $16 $76 $676 $56
Sequoia Limited 2WD $124 $218 $254 $16 $76 $688 $57
Sequoia Limited 4WD $124 $218 $254 $16 $76 $688 $57
Sequoia Platinum 2WD $124 $250 $254 $16 $76 $720 $60
Sequoia Platinum 4WD $124 $250 $254 $16 $76 $720 $60
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Data based on married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Hawaii minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Premium amounts do not factor in specific garaging location which can alter coverage rates substantially.

How high should deductibles be?

When comparing insurance rates, the most common question is where should you set your physical damage deductibles. The premium rates below may aid in understanding the rate difference when you buy lower versus higher deductibles. The first set of rates uses a $100 deductible for physical damage and the second price table uses a $500 deductible.

Toyota Sequoia insurance with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sequoia SR/5 2WD $258 $412 $264 $16 $80 $1,055 $88
Sequoia SR/5 4WD $258 $484 $264 $16 $80 $1,127 $94
Sequoia Limited 2WD $286 $484 $264 $16 $80 $1,155 $96
Sequoia Limited 4WD $286 $484 $264 $16 $80 $1,155 $96
Sequoia Platinum 2WD $286 $558 $264 $16 $80 $1,229 $102
Sequoia Platinum 4WD $286 $558 $264 $16 $80 $1,229 $102
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Toyota Sequoia insurance with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sequoia SR/5 2WD $188 $278 $264 $16 $80 $826 $69
Sequoia SR/5 4WD $188 $328 $264 $16 $80 $876 $73
Sequoia Limited 2WD $210 $328 $264 $16 $80 $898 $75
Sequoia Limited 4WD $210 $328 $264 $16 $80 $898 $75
Sequoia Platinum 2WD $210 $378 $264 $16 $80 $948 $79
Sequoia Platinum 4WD $210 $378 $264 $16 $80 $948 $79
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Hawaii minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Rate quotes do not factor in Honolulu location which can change rates significantly.

Using the premium rates above, we can conclude that using a $100 deductible costs approximately $21 more each month or $252 annually across all Toyota Sequoia models than selecting the higher $500 deductible. Due to the fact that you would have to pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you usually have more than 19 months between claims, you would more than likely save some money by going with a higher deductible. Here is how we made this calculation.

Average monthly premium for $100 deductibles: $96
Average monthly premium for $500 deductibles (subtract): – $75
Monthly savings from raising deductible: $21
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $21
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 19 months

Toyota Sequoia insurance rates by gender in Honolulu

The example below shows the comparison of Toyota Sequoia car insurance costs for male and female drivers. The rate quotes are based on no claims or violations, full physical damage coverage, $500 deductibles, single status, and no other discounts are factored in.

Rate difference between full and liability-only coverage

The example below shows the comparison of Toyota Sequoia insurance rates with and without physical damage coverage. The premiums assume a clean driving record, no at-fault accidents, $250 deductibles, marital status is single, and no discounts are factored in.

Should you buy full coverage or liability only?

There is no definitive rule for excluding comp and collision coverage, but there is a general school of thought. If the yearly cost for physical damage coverage is more than 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.

For example, let’s say your Toyota Sequoia settlement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $6,000 after you pay the deductible. If you are paying more than $600 annually to have full coverage, then you might want to think about dropping full coverage.

There are some cases where only buying liability is not a good idea. If you have an outstanding loan on your vehicle, you have to keep full coverage as part of the loan requirements. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.

How Your Sequoia Insurance Costs are Determined

Multiple criteria are used in the calculation when you get a price on insurance. Some factors are common sense like your driving record, although some other factors are less apparent such as your marital status or your vehicle rating.

Listed below are some of the things used by insurance companies to determine your prices.

Three reasons to insure your Toyota vehicle

Despite the high cost of buying insurance for a Toyota Sequoia in Honolulu, maintaining insurance is required by state law in Hawaii and it also provides benefits you may not be aware of.

The benefits of having insurance definitely exceed the cost, particularly when you have a large claim. On average, a vehicle owner in Honolulu overpays more than $750 every year so it’s very important to do a rate comparison once a year at a minimum to make sure the price is not too high.