Save Money on Toyota Venza Insurance in Honolulu

Insurance for Toyota VenzaThe most effective way to get more affordable Toyota Venza insurance in Honolulu is to regularly compare quotes from insurers that insure vehicles in Hawaii.

One thing to remember is to use identical deductibles and limits on every quote request and and to analyze as many companies as you can. Doing this ensures the most accurate price comparison and a complete selection of prices.

Shocking but true, over 70% of consumers kept their policy with the same company for at least four years, and almost 40% of drivers have never taken the time to shop around. Drivers in the U.S. could save almost $850 each year by just comparing quotes, but most just don’t grasp the rate savings if they changed companies.

To find the best insurance quotes, there are several ways to compare rate quotes from many insurance companies in Hawaii. The easiest way by far to compare Toyota Venza insurance prices is to use the internet to compare rates. When comparison shopping, comparing a wide range of rates helps you find a better price. Some smaller insurers do not give online rate quotes, so it’s important to also get rates from those companies as well.

The companies in the list below are ready to provide comparison quotes in Hawaii. If multiple companies are shown, we recommend you get prices from several of them to find the cheapest auto insurance rates.

Buying the right Toyota vehicle insurance in Hawaii is an important decision

Despite the fact that auto insurance is not cheap in Honolulu, auto insurance serves an important purpose.

The benefits of having insurance are definitely more than the cost, specifically if you ever have a liability claim. An average driver in America is wasting up to $825 a year so compare rate quotes at least once a year to help ensure money is not being wasted.

Coverage analysis

The coverage table shown below covers estimates of insurance rates for Toyota Venza models. Understanding more about how prices are established can help drivers make informed decisions when comparing rates.

Toyota Venza Insurance Rates in Honolulu, HI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Venza 2WD 4-Dr $170 $302 $272 $16 $82 $842 $70
Venza AWD 4-Dr $170 $302 $272 $16 $82 $842 $70
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Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Hawaii minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Premium costs do not factor in Honolulu location which can raise or lower insurance rates noticeably.

Analysis of deductible levels

One frequently asked question is the level to set your comp and collision deductibles. The rates below help summarize the rate differences when you select higher and lower physical damage deductibles. The first pricing table uses a $250 deductible for physical damage and the second price chart uses a $1,000 deductible.

Toyota Venza insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Venza 2WD 4-Dr $230 $406 $264 $16 $80 $1,021 $85
Venza AWD 4-Dr $230 $406 $264 $16 $80 $1,021 $85
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Toyota Venza insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Venza 2WD 4-Dr $142 $256 $264 $16 $80 $758 $63
Venza AWD 4-Dr $142 $256 $264 $16 $80 $758 $63
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Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Hawaii minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, homeowner, and multi-vehicle. Price estimates do not factor in your specific Honolulu location which can alter prices significantly.

We can estimate from the data above that using a $250 deductible could cost the average driver approximately $22 more each month or $264 annually than selecting the higher $1,000 deductible. Since you would have to pay $750 more to file a claim with a $1,000 deductible as compared to a $250 deductible, if you normally average at least 34 months between claim filings, you would save more money if you choose the higher deductible. Here’s a better example of how you can decide this on your own policy.

Average monthly premium for $250 deductibles: $85
Average monthly premium for $1,000 deductibles (subtract): – $63
Monthly savings from raising deductible: $22
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $22
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 34 months

An important sidenote is that raising deductibles to get cheaper rates results in more money out-of-pocket when you have a physical damage claim. You need to make sure you have access to more funds in the event you have to pay the deductible to have repairs made.

The illustration below demonstrates how deductible levels and can influence Toyota Venza insurance prices for different age groups. The rates are based on a single female driver, comp and collision included, and no discounts are factored in.

Toyota Venza liability-only versus full coverage

The information below compares Toyota Venza premium costs with liability coverage only compared to full coverage. The premiums are based on no claims or violations, $1,000 deductibles, drivers are not married, and no discounts are applied.

Are you wasting money on full coverage?

There isn’t a steadfast formula to delete physical damage insurance, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is about 10% or more of replacement cost minus your deductible, then you might consider buying liability only.

For example, let’s pretend your Toyota Venza book value is $8,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $7,000 after paying the physical damage deductible. If you are paying in excess of $700 annually for physical damage coverage, then you might want to consider buying only liability coverage.

There are a few cases where removing full coverage is not recommended. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should keep full coverage.

Do you qualify for discounts?

Insurance is neither fun to buy or cheap, but you might be missing out on some discounts to help bring down the price. A few discounts will be applied at the time you complete a quote, but once in a while a discount must be inquired about before you get the savings.Discount insurance

As a footnote on discounts, most of the big mark downs will not be given to all coverage premiums. Most only cut individual premiums such as comprehensive or collision. So when it seems like you can get free auto insurance, insurance companies wouldn’t stay in business. Any qualifying discounts should definitely cut the premium cost.

The chart below shows the comparison of Toyota Venza insurance premiums with and without discounts. The costs are based on a female driver, no claims or driving violations, Hawaii state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, homeowner, safe-driver, claim-free, and marriage discounts applied.

To view insurers offering insurance discounts in Hawaii, click here.

Special considerations

Always remember that when buying the best insurance coverage for your personal vehicles, there really isn’t a “perfect” insurance plan. Everyone’s situation is a little different.Higher deductibles save money

For example, these questions can help discover whether your personal situation may require specific advice.

If you’re not sure about those questions then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form.