Toyota 4Runner Insurance Rates in Honolulu

A recent car insurance study revealed that a large majority of drivers kept their policy with the same company for well over three years, and just short of a majority have never quoted rates to find cheap coverage. With the average car insurance premium being $1,000, Hawaii drivers could save about 40% each year just by shopping around, but they just assume it’s a time-consuming process to find cheap car insurance rates.

Insurance for Toyota 4RunnerIf you want to save the most money, the best way to get low-cost Toyota 4Runner insurance is to compare prices regularly from different companies who can sell car insurance in Honolulu.

One thing to remember is to try to use the same level of coverage on every quote and and to analyze as many companies as feasibly possible. This provides a fair price comparison and a good representation of prices.

If you are already insured or want to find a cheaper company, you will benefit by learning to save money and still have adequate protection. Quoting and buying more affordable insurance coverage in Honolulu is not as hard as you may think. Shoppers just need to use the proper methods to shop their coverage around over the internet.

Learn How to Buy Insurance at a Discount

Many different elements are used when quoting car insurance. Some factors are common sense like an MVR report, but some are not as apparent like where you live or your vehicle rating. Part of the insurance buying process is learning a few of the rating criteria that are used to determine your premiums. If you have a feel for what influences your rates, this helps enable you to make changes that may result in much lower annual insurance costs.

The itemized list below are some of the items used by your company to calculate your rates.

Save money with higher comp and collision deductibles – Physical damage coverage, aka comp and collision, covers damage that occurs to your Toyota. Examples of some claims that would be covered could be a broken windshield, damage from fire, and damage from a fallen tree branch. The deductibles you choose tell how much you are required to pay before your insurance pays a claim. The more expense you choose to pay out-of-pocket, the lower your rates will be.

Consolidate policies to earn discounts – Most larger companies give a discount to policyholders who have multiple policies with them, otherwise known as a multi-policy discount. Discounts can be ten percent or more. Even with this discount, it’s still a good idea to check prices from other companies to ensure the best deal.

Getting married pays dividends – Your spouse helps lower the price on your policy. It translates into being more responsible and statistics prove married drivers tend to have fewer serious accidents.

Pleasure use or commuting – The higher the miles on your Toyota every year the more you’ll pay to insure your vehicle. Most insurance companies price each vehicle’s coverage determined by how the vehicle is used. Autos that have low annual miles receive better premium rates than vehicles that have high annual mileage. A policy that improperly rates your 4Runner may be wasting your money. Ask your agent if your declarations sheet states the proper vehicle usage.

Insurance loss data for a Toyota 4Runner – Companies include the past claim trends for vehicles when setting premium costs. Vehicles that are shown to have a trend towards higher claims will cost more for specific coverages.

The table shown below demonstrates the historical insurance loss data for Toyota 4Runner vehicles. For each policy coverage type, the statistical loss for all vehicles combined as an average is set at 100. Values that are under 100 imply a favorable loss record, while percentages above 100 indicate higher probability of having a loss or statistically larger claims.


Toyota 4Runner Insurance Loss Statistics
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Toyota 4Runner 4dr 2WD 75 92 83 76 66 75
Toyota 4Runner 4dr 4WD 78 88 110 67 59 74
BETTER
AVERAGE
WORSE

Statistics from IIHS.org for 2013-2015 Model Years

Toyota 4Runner insurance analysis

The information displayed next covers estimates of insurance premium costs for Toyota 4Runner models. Having insight into how insurance prices are formulated can assist in making smart choices when comparing insurance quotes.


Toyota 4Runner Insurance Rates in Honolulu, HI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
4Runner Sport 2WD $294 $338 $294 $18 $88 $1,032 $86
4Runner SR/5 2WD $294 $412 $294 $18 $88 $1,106 $92
4Runner Sport 4WD $294 $412 $294 $18 $88 $1,106 $92
4Runner SR/5 4WD $294 $412 $294 $18 $88 $1,106 $92
4Runner Trail Edition 4WD $326 $484 $294 $18 $88 $1,210 $101
4Runner Limited 2WD $326 $484 $294 $18 $88 $1,210 $101
4Runner Limited 4WD $326 $484 $294 $18 $88 $1,210 $101
Get Your Own Custom Quote Go

Table data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Hawaii minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Information does not factor in specific Honolulu garaging location which can raise or lower premium rates noticeably.

Should you raise deductibles?

The hardest decision when buying coverage is where should you set your physical damage deductibles. The rates shown below can help illustrate the rate fluctuation when you buy lower versus higher deductibles. The first pricing table uses a $100 deductible for comp and collision and the second price chart uses a $500 deductible.


Toyota 4Runner insurance premium rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
4Runner Sport 2WD $258 $338 $226 $14 $68 $929 $77
4Runner SR/5 2WD $258 $412 $226 $14 $68 $1,003 $84
4Runner Sport 4WD $258 $412 $226 $14 $68 $1,003 $84
4Runner SR/5 4WD $258 $412 $226 $14 $68 $1,003 $84
4Runner Trail Edition 4WD $286 $484 $226 $14 $68 $1,103 $92
4Runner Limited 2WD $286 $484 $226 $14 $68 $1,103 $92
4Runner Limited 4WD $286 $484 $226 $14 $68 $1,103 $92
Get Your Own Custom Quote Go

Toyota 4Runner insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
4Runner Sport 2WD $188 $228 $226 $14 $68 $724 $60
4Runner SR/5 2WD $188 $278 $226 $14 $68 $774 $65
4Runner Sport 4WD $188 $278 $226 $14 $68 $774 $65
4Runner SR/5 4WD $188 $278 $226 $14 $68 $774 $65
4Runner Trail Edition 4WD $210 $328 $226 $14 $68 $846 $71
4Runner Limited 2WD $210 $328 $226 $14 $68 $846 $71
4Runner Limited 4WD $210 $328 $226 $14 $68 $846 $71
Get Your Own Custom Quote Go

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Hawaii minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Table data does not factor in zip code location which can alter coverage rates noticeably.

Based on this data, using a $100 deductible costs roughly $19 more each month or $228 each year than buying the higher $500 deductible. Since you would pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you normally go at least 21 months between claim filings, you would save more money if you opt for a higher deductible.

Violations and accidents raise rates

The chart below illustrates how violations and accidents can affect Toyota 4Runner yearly insurance costs for different age groups. The premium estimates are based on a single male driver, full physical damage coverage, $100 deductibles, and no discounts are applied.

How much more does full coverage cost?

The chart below illustrates the difference between Toyota 4Runner auto insurance rates when comparing full coverage to state minimum liability only. The price estimates are based on no claims, a clean driving record, $500 deductibles, drivers are single, and no discounts are applied to the premium.

Should you pay for full coverage?

There is no exact formula for eliminating physical damage coverage on your policy, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.

For example, let’s pretend your Toyota 4Runner replacement value is $6,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $5,000 after you pay the deductible. If it’s costing in excess of $500 a year for your policy with full coverage, then you might want to consider buying only liability coverage.

There are some circumstances where buying only liability insurance is not advised. If you still owe a portion of the original loan, you have to keep full coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not buy liability only.

Affordable rates on Toyota 4Runner insurance in Honolulu with these insurance discounts

The price of auto insurance can be rather high, but there could be available discounts that could help you make your next renewal payment. Certain discounts will be triggered automatically at the time of quoting, but some may not be applied and must be manually applied before you will receive the discount.Insurance discounts

Remember that most discount credits are not given to the overall cost of the policy. Some only reduce the cost of specific coverages such as physical damage coverage or medical payments. Despite the appearance that having all the discounts means you get insurance for free, it’s just not the way it works.

The information below shows the comparison of Toyota 4Runner insurance costs with and without discounts applied to the rates. The data assumes a female driver, no tickets, no at-fault accidents, Hawaii state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, safe-driver, multi-policy, homeowner, and multi-car discounts applied.

Car insurance companies who may offer these benefits include:

If you need lower rates, check with each company what discounts are available to you. All car insurance discounts may not apply to policyholders in your area. If you would like to choose from a list of providers offering insurance discounts in Hawaii, click here.

More effort can pay off

Cost effective Toyota 4Runner insurance can be found both online in addition to local insurance agencies, so you need to shop Honolulu car insurance with both in order to have the best chance of saving money. A few companies may not have online rate quotes and most of the time these small, regional companies only sell coverage through independent agents.

As you quote Honolulu car insurance, it’s a bad idea to buy poor coverage just to save money. There have been many situations where drivers have reduced collision coverage only to regret that the small savings ended up costing them much more. Your strategy should be to get the best coverage possible at an affordable rate, but don’t skip important coverages to save money.

You just learned some good ideas how you can lower your Toyota 4Runner insurance premium rates in Honolulu. It’s most important to understand that the more price quotes you have, the better chance you’ll have of finding low cost Honolulu car insurance quotes. Consumers could even find that the best price on auto insurance is with an unexpected company.

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