How many times have you told yourself to find low-cost Fiat 500 insurance in Honolulu? Searching for cheaper insurance for a new or used Fiat 500 in Hawaii could be an all-consuming task, but you can follow our insurance buying tips and make it easy.
There is a right way and a wrong way to buy insurance so we're going to tell you the proper way to quote coverages for your Fiat and locate the lowest price.
You need to get comparison quotes once or twice a year because prices fluctuate regularly. Just because you had the lowest rates on Fiat 500 insurance in Honolulu a couple years back other companies may now be cheaper. Forget all the misinformation about insurance because you're about to learn the quickest way to properly buy coverages and cut your premium.
If you have insurance now or just want cheaper rates, use these tips to lower your rates without reducing protection. Finding and buying the best-priced auto insurance in Honolulu is not as difficult as people think. Drivers just have to learn the most time-saving way to compare different rates over the internet.
You Can Change Your Insurance Rates
Many factors are used in the calculation when you get a price on insurance. Some factors are common sense such as your driving history, although some other factors are not quite as obvious like your vehicle usage or your vehicle rating.
The following are some of the things auto insurance companies consider when setting your rates.
Liability insurance safeguards assets - A critical coverage on your policy, liability insurance will protect you in the event that you are found liable for causing damage or personal injury in an accident. Your policy's liability insurance provides legal defense coverage to defend your case. This coverage is very inexpensive as compared to coverage for physical damage, so do not skimp.
Your address can affect rates - Being located in less populated areas of the country has definite advantages when insuring your vehicles. Fewer drivers on the road means a lower chance of having an accident in addition to fewer liability claims. Drivers in populated Hawaii areas regularly have congested traffic and more severe claims. Longer commute distances translates into higher accident risk.
Low deductibles can be expensive - Deductibles for physical damage define how much you are required to pay if you file a covered claim. Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. Some instances where coverage would apply could be colliding with a stationary object, damage caused by hail, and damage from wind. The more the insured is willing to pay, the less your auto insurance will be.
Allowing your policy to lapse raises rates - Not having insurance is not a good idea and you will pay a penalty because you let your coverage lapse. Not only will rates go up, getting caught without coverage can result in a hefty fine and possibly a revoked license.
Job impacts rates - Occupational choices like doctors, police officers, and financial analysts generally pay the highest average rates because of intense work situations and long work hours. On the other hand, occupations such as actors, historians and performers pay the least.
Insurance losses for a Fiat 500 - Insurers analyze the history of losses to determine a price that will be profitable for them. Vehicles that the statistics show to have higher claim amounts or frequency will be charged more to insure.
The table below outlines the insurance loss data for Fiat 500 vehicles. For each coverage category, the loss probablilty for all vehicles, regardless of make or model, is represented as 100. Values that are below 100 represent a good loss history, while percentage numbers above 100 indicate more frequent losses or an increased chance of larger losses than average.
Fiat 500 Insurance Claim Statistics
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Fiat 500 Convertible||76||79||60||85|
|Fiat 500 Electric||73||59||76||60|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Finding cheaper Fiat 500 car insurance rates is an easy way to save money. Just spend a few minutes on the computer comparing rates from different insurance companies.
The auto insurance companies shown below have been selected to offer comparison quotes in Hawaii. If multiple companies are shown, we suggest you click on several of them to get a more complete price comparison.
Smaller companies may have the best rates
Hawaii consumers can't escape the ads that claim the best rates from the likes of Allstate, GEICO and Progressive. All the companies tend to make the same promise about how much you will save after switching to them.
How is it possible that every company can make the same claim? This is the trick they use.
Many companies require specific criteria for the right customer that will be a good risk. For instance, a profitable customer might have to be between the ages of 30 and 45, carries high limits, and drives less than 5,000 miles a year. A propective insured who fits that profile may get the lowest premium rates in Honolulu and is almost guaranteed to save when they switch companies.
Drivers who may not quite match the requirements will be charged higher rates and the driver buying from a lower-cost company. The wording the ads use say "customers that switch" not "everybody who quotes" save that much money. That's the way insurance companies can confidently make claims like that.
This really emphasizes why drivers should get Honolulu auto insurance quotes from several different companies. Because you never know with any certainty which company will give you lower rates than your current company.
Insurance is not optional in Hawaii
Even though Honolulu 500 insurance rates can get expensive, insurance is most likely required but also gives you several important benefits.
- The majority of states have minimum liability requirements which means the state requires a minimum amount of liability insurance coverage if you want to drive 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 your vehicle has a loan, most lenders will have a requirement that you buy insurance to ensure the loan is repaid in case of a total loss. If you do not pay your insurance premiums, the bank will be required to insure your Fiat at a much higher rate and force you to pay the higher premium.
- Insurance preserves both your car and your personal assets. It will also cover many types of medical costs that are the result of an accident. One policy coverage, liability insurance, also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If damage is caused by hail or an accident, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.
The benefits of carrying enough insurance greatly outweigh the cost, especially if you ever need it. According to a survey of 1,000 drivers, the average driver is overpaying more than $800 each year so shop around at every renewal to be sure current rates are still competitive.
Affordable rates by getting discounts
The cost of insuring your cars can be expensive, but there are discounts available that could drop your premiums quite a bit. A few discounts will be applied when you get a quote, but some need to be specially asked for before you get the savings.
- Telematics Data Discounts - Drivers that enable companies to spy on driving manner through the use of a telematics system such as Drivewise from Allstate or Snapshot from Progressive might get better premium rates if they are good drivers.
- Good Drivers - Drivers who don't get into accidents may save up to 50% more compared to accident prone drivers.
- Multiple Vehicles - Drivers who insure multiple cars on one policy can reduce rates for all insured vehicles.
- Driver's Ed - Make teen driver coverage more affordable by requiring them to enroll and complete driver's education in school or through a local driver safety program.
- No Claims - Insureds who avoid accidents and claims can earn big discounts when compared to bad drivers.
- Anti-lock Brakes - Anti-lock brake equipped vehicles can reduce accidents and therefore earn up to a 10% discount.
- Air Bag Discount - Vehicles equipped with air bags or motorized seat belts can qualify for discounts of up to 25% or more.
Don't be shocked that most discounts do not apply to the overall cost of the policy. Most cut the price of certain insurance coverages like collision or personal injury protection. Even though the math looks like having all the discounts means you get insurance for free, insurance companies aren't that generous. Any amount of discount will bring down your policy premiums.
Some of the insurance companies who might offer these discounts possibly include:
When getting a coverage quote, ask every company which credits you are entitled to. All car insurance discounts may not apply to policies everywhere. If you would like to view insurance companies with the best Fiat 500 insurance discounts in Honolulu, click here.
Insurance agent or online?
Many drivers would prefer to talk to an insurance agent and doing so can bring peace of mind Experienced insurance agents are highly skilled in risk management and help in the event of a claim. The biggest benefit of comparing insurance prices online is the fact that you can find lower rates and still buy from a local agent. And supporting small agencies is important particularly in Honolulu.
Once you complete this short form, your information is emailed to participating agents in Honolulu who will give you quotes to get your business. You won't need to find an agent on your own due to the fact that quote results will go directly to you. If you have a need to get a comparison quote from one company in particular, feel free to search and find their rate quote page and complete a quote there.
Two types of auto insurance agents
When narrowing the list to find a local agent, you must know there are a couple different types of agencies and how they can write your policy. Agencies in Honolulu can be described as either independent agents or exclusive agents. Both can insure your vehicles, but it's worth mentioning the subtle differences since it may influence the selection process.
Independent Auto Insurance Agents (or Brokers)
These agents can sell policies from many different companies so they can insure your vehicles with any number of different companies and possibly get better coverage at lower prices. If you want to switch companies, they simply switch companies in-house which is easy for the insured.
If you are trying to find cheaper rates, you definitely need to include a few independent agents to ensure the widest selection of prices. A lot of them also have access to smaller companies that many times have cheaper rates.
The following is a partial list of independent agents in Honolulu that can give you free price quotes.
- First Insurance Co of Hawaii Limited
1100 Ward Ave # Main, Honolulu, HI 96814, Honolulu, 96818 - Honolulu, HI 96818 - (808) 527-7777 - View Map
- Island Insurance Hawaii
1022 Bethel St - Honolulu, HI 96813 - (808) 643-4000 - View Map
- Pyramid Insurance Center Ltd
420 Waiakamilo Rd - Honolulu, HI 96817 - (808) 527-7667 - View Map
Exclusive Insurance Agents
Exclusive insurance agents can usually just insure with one company like Farmers Insurance, American Family, State Farm and Allstate. They are unable to place coverage with different providers so they have to upsell other benefits. Exclusive insurance agents are well trained on their company's products which helps them sell on service rather than price. Consumers sometimes buy insurance from these agents mainly due to high brand loyalty and solid financial strength.
Listed below is a short list of exclusive agents in Honolulu that are able to give rate quotes.
- U'ilani Hawelu - State Farm Insurance Agent
1960 Kapiolani Blvd Ste 208 - Honolulu, HI 96826 - (808) 955-9090 - View Map
- Sue Ann Lu - State Farm Insurance Agent
210 Ward Ave #116 - Honolulu, HI 96814 - (808) 587-6116 - View Map
- Jef Saragena - State Farm Insurance Agent
677 Ala Moana Blvd Ste 310 - Honolulu, HI 96813 - (808) 951-0866 - View Map
Finding the right insurance agency needs to be determined by more than just the bottom line cost. The questions below may impact your decision as well.
- Does the agency have a positive business rating?
- Does the agent recommend any additional coverage?
- Do they assist clients in filing claims?
- Do they have designations such as AIC, CPCU, or CIC?
- What insurance companies do they work with in Honolulu?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
If you get good feedback to all your questions and locked in a price quote, chances are good that you have found a car insurance agent that can be trusted to properly service your auto insurance policy. Just keep in mind you are able to terminate coverage at any point so don't think that you're stuck with any specific agency for any length of time.
Frequent quotes can save
We just covered many ideas to reduce Fiat 500 insurance premium rates online in Honolulu. It's most important to understand that the more companies you get prices for, the better chance you'll have of finding the cheapest Fiat 500 rate quotes. You may even find the best price on insurance is with a small mutual company.
Budget-conscious Fiat 500 insurance is available online in addition to local insurance agencies, and you should compare price quotes from both to get a complete price analysis. A few companies don't offer rates over the internet and these small, regional companies sell through independent insurance agencies.
When searching for inexpensive Honolulu auto insurance quotes, you should never skimp on coverage in order to save money. There have been many situations where someone dropped comprehensive coverage or liability limits and discovered at claim time that saving that couple of dollars actually costed them tens of thousands. The goal is to get the best coverage possible for the lowest cost while still protecting your assets.
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