Save Money on Mitsubishi Outlander Insurance in Honolulu

Insurance rates Mitsubishi Outlander in HonoluluIf you want to save money, the best way to get affordable Mitsubishi Outlander insurance in Honolulu is to annually compare prices from companies in Hawaii. You can compare rates by completing these steps.

The most important part of shopping around is that you’ll want to compare similar deductibles and liability limits on each quote and to quote with all possible companies. Doing this helps ensure a level playing field and and a good selection of different prices.

Amazingly, the vast majority of consumers have bought auto insurance from the same company for well over three years, and nearly the majority have never compared quotes from other companies. Consumers in the United States could save themselves roughly $859 a year by just comparing quotes, but they just don’t understand the rate savings if they replace their high priced policy.

Data for Mitsubishi Outlander insurance

The rate table shown next showcases estimates of insurance policy prices for Mitsubishi Outlander models. Being aware of how insurance policy premiums are formulated is important for drivers to make decisions on the best policy to buy.

Mitsubishi Outlander Insurance Rates in Honolulu, HI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Outlander ES 2WD $196 $404 $254 $16 $76 $946 $79
Outlander SE 4WD $196 $404 $254 $16 $76 $946 $79
Outlander SE 4WD $196 $404 $254 $16 $76 $946 $79
Outlander SE 2WD $196 $404 $254 $16 $76 $946 $79
Outlander SE 2WD $196 $404 $254 $16 $76 $946 $79
Outlander ES 4WD $196 $404 $254 $16 $76 $946 $79
Outlander XLS 2WD $222 $476 $254 $16 $76 $1,044 $87
Outlander XLS 4WD $222 $476 $254 $16 $76 $1,044 $87
Outlander GT-S AWC 4WD $222 $476 $254 $16 $76 $1,044 $87
Outlander GT-S AWC 4WD $222 $476 $254 $16 $76 $1,044 $87
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Premium data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Hawaii minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Rate information does not factor in zip code location which can affect price quotes significantly.

Should you raise deductibles?

When comparing auto insurance rates, the most common question is how low should you set your deductibles. The rates shown below show the rate difference when you choose different physical damage coverage deductibles. The first rate quote example uses a $100 deductible for physical damage and the second price table uses a $1,000 deductible.

Mitsubishi Outlander insurance with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Outlander ES 2WD $228 $412 $226 $14 $68 $973 $81
Outlander SE 4WD $228 $412 $226 $14 $68 $973 $81
Outlander SE 4WD $228 $412 $226 $14 $68 $973 $81
Outlander SE 2WD $228 $412 $226 $14 $68 $973 $81
Outlander SE 2WD $228 $412 $226 $14 $68 $973 $81
Outlander ES 4WD $228 $412 $226 $14 $68 $973 $81
Outlander XLS 2WD $258 $484 $226 $14 $68 $1,075 $90
Outlander XLS 4WD $258 $484 $226 $14 $68 $1,075 $90
Outlander GT-S AWC 4WD $258 $484 $226 $14 $68 $1,075 $90
Outlander GT-S AWC 4WD $258 $484 $226 $14 $68 $1,075 $90
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Mitsubishi Outlander insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Outlander ES 2WD $126 $216 $226 $14 $68 $650 $54
Outlander SE 4WD $126 $216 $226 $14 $68 $650 $54
Outlander SE 4WD $126 $216 $226 $14 $68 $650 $54
Outlander SE 2WD $126 $216 $226 $14 $68 $650 $54
Outlander SE 2WD $126 $216 $226 $14 $68 $650 $54
Outlander ES 4WD $126 $216 $226 $14 $68 $650 $54
Outlander XLS 2WD $142 $256 $226 $14 $68 $706 $59
Outlander XLS 4WD $142 $256 $226 $14 $68 $706 $59
Outlander GT-S AWC 4WD $142 $256 $226 $14 $68 $706 $59
Outlander GT-S AWC 4WD $142 $256 $226 $14 $68 $706 $59
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Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Hawaii minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Rate information does not factor in specific garaging location which can affect premium rates substantially.

Based on this data, we can arrive at the conclusion that using a $100 deductible could cost the average driver approximately $29 more each month or $348 for a full year than requesting 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 at a minimum 31 months between claims, you would most likely save money going with the higher deductible.

How to calculate if a higher deductible is a good decision

Average monthly premium for $100 deductibles: $85
Average monthly premium for $1,000 deductibles (subtract): – $56
Monthly savings from raising deductible: $29
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $29
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 31 months

One important issue to know is that raising deductibles means you will have to pay more when you have a physical damage claim. That will necessitate enough money in the bank in order to pay the higher deductible in order to repair your vehicle.

Auto insurance prices based on gender

The illustration below compares Mitsubishi Outlander insurance prices for male and female drivers. Data assumes no claims, a clean driving record, comp and collision included, $500 deductibles, drivers are single, and no discounts are applied to the premium.

Cost comparison with and without full coverage

The diagram below shows the difference between Mitsubishi Outlander premium costs with and without full coverage. The price estimates are based on a clean driving record, no claims, $1,000 deductibles, marital status is single, and no other discounts are factored in.

Are you wasting money paying for full coverage?

There is no set rule for eliminating physical damage coverage, but there is a guideline you can consider. If the yearly cost of full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.

For example, let’s say your Mitsubishi Outlander book value is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $2,000 after paying your policy deductible. If premiums are more than $200 a year for full coverage, then you may need to consider dropping full coverage.

There are some circumstances where buying only liability insurance is not financially feasible. If you still owe a portion of the original loan, you must maintain physical damage coverage as part of the loan requirements. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not buy liability only.

Mitsubishi Outlander insurance discounts in Honolulu

The cost of insuring your cars can be expensive, but there may be some discounts that could drop your premiums quite a bit. Some trigger automatically at the time of quoting, but some need to be specifically requested prior to receiving the credit.Save money with discounts

While discounts sound great, it’s important to understand that some credits don’t apply to the entire policy premium. A few only apply to the cost of specific coverages such as collision or personal injury protection. So even though you would think having all the discounts means you get insurance for free, company stockholders wouldn’t be very happy.

The information below compares Mitsubishi Outlander auto insurance costs with and without discounts. Data assumes a female driver, no tickets, no at-fault accidents, Hawaii state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, multi-policy, marriage, multi-car, and safe-driver discounts applied.

To see a list of insurers with discount rates in Hawaii, click here to view.

Car insurance coverage information

Learning about specific coverages of car insurance can help you determine which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording.

Liability auto insurance

Liability coverage can cover damage or injury you incur to a person or their property. It protects YOU against claims from other people. It does not cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 20/40/10 which stand for $20,000 bodily injury coverage, a per accident bodily injury limit of $40,000, and $10,000 of coverage for damaged property.

Liability coverage protects against claims such as repair costs for stationary objects, bail bonds, loss of income and medical expenses. How much coverage you buy is your choice, but buy higher limits if possible. Hawaii requires drivers to carry at least 20/40/10 but it’s recommended drivers buy more coverage.

The next chart demonstrates why buying the state minimum limits may not be enough coverage.

Medical payments coverage and PIP

Med pay and PIP coverage kick in for short-term medical expenses such as EMT expenses, surgery and X-ray expenses. They are used in conjunction with a health insurance policy or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. Personal Injury Protection is not an option in every state but can be used in place of medical payments coverage

Comprehensive coverage

Comprehensive insurance coverage pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims such as hail damage, vandalism and theft. The highest amount your car insurance company will pay is the actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.

Uninsured/Underinsured Motorist coverage

This coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants and damage to your Mitsubishi Outlander.

Because many people carry very low liability coverage limits (which is 20/40/10), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.

Auto collision coverage

This will pay to fix damage to your Outlander from colliding with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims like hitting a mailbox, driving through your garage door and colliding with a tree. This coverage can be expensive, so consider dropping it from lower value vehicles. Drivers also have the option to choose a higher deductible on your Outlander to bring the cost down.

Be persistent to save money

While you’re price shopping online, it’s not a good idea to skimp on critical coverages to save a buck or two. There have been many situations where someone dropped physical damage coverage and learned later that their decision to reduce coverage ended up costing them more. Your goal should be to buy enough coverage at the best possible price.

People switch companies for a number of reasons such as lack of trust in their agent, high prices, delays in responding to claim requests and even policy cancellation. No matter why you want to switch, switching companies is not as hard as you think.

We covered quite a bit of information on how to lower your Mitsubishi Outlander insurance rates in Honolulu. The key thing to remember is the more price quotes you have, the better chance you’ll have of finding affordable Mitsubishi Outlander insurance quotes. You may even be surprised to find that the lowest rates are with a small mutual company.

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