Who Has the Cheapest Car Insurance for Business Use in Hawaii?

Figuring out which companies offer the cheapest car insurance rates for business use may require a little more sweat in order to find coverage that fits your buget. Each insurer uses their own formula for setting rates, so we will examine the car insurance companies that tend to be cheaper in Hawaii.

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USAA may offer some of the lowest car insurance rates in Hawaii at around $964 per year. State Farm, GEICO, Liberty Mutual, and Progressive would also be considered some of the cheaper Hawaii insurance companies.

In the rate table above, if you currently have a policy with State Farm and switched to USAA, you could realize an annual premium reduction of in the neighborhood of $156. Drivers with GEICO might save as much as $384 a year, and Liberty Mutual policyholders might realize rate reductions of up to $442 a year.

To discover how much you can save, click here to start your free quote or visit any of the companies below.

Understand that those policy prices are averages for all types of drivers and the different vehicles they drive and do not factor in a rate surcharge for business use. So the insurer that has the cheapest price for you may not even be featured in the above list. That helps illustrate why you need to get rate quotes from many companies using your own personal information and vehicle type.

We all have different tastes in cars, and the vehicle requiring insurance is a large consideration when quoting the most economical insurance for business use. Vehicles with limited top-end speed, good crash test ratings, or a positive history of liability claims will cost quite a bit less to insure than higher performance models.

The information below showcases auto insurance premiums for a number of the cheapest vehicles to insure.

Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Hawaii minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Premium costs do not factor in vehicle garaging location which can increase or decrease rates significantly.

Prices based on single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Hawaii minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Price estimates do not factor in Hawaii location which can lower or raise premiums greatly.

Table data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Hawaii minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, claim-free, and homeowner. Premium costs do not factor in specific location information which can modify insurance rates substantially.

For using your car for business, one of the big criteria that is looked at to help calculate car insurance rates is your zip code. Areas with more people or even just a higher incidence of claims like Hilo, Royal Kunia, and Waianae will most likely pay more, whereas areas with fewer weather claims and lower vehicle theft rates receive better rates.

The illustration below ranks the higher priced cities in Hawaii for business use to purchase car insurance in.

Premium costs are comparative as specific location information can revise rates substantially.

Discount Hawaii auto insurance

Insurers that offer the cheapest car insurance for business use in Hawaii may also offer premium discounts that could potentially reduce rates by as much as 25% or more if you qualify for them. A few popular companies and their possible discounts are included below.

• The Hartford may include discounts for defensive driver, anti-theft, driver training, good student, air bag, bundle, and vehicle fuel type.
• American Family has discounts for early bird, air bags, bundled insurance, Steer into Savings, accident-free, mySafetyValet, and good student.
• Progressive discounts include multi-vehicle, continuous coverage, homeowner, multi-policy, good student, online signing, and online quote discount.
• Travelers includes discounts for good student, home ownership, driver training, multi-car, and new car.
• Farmers Insurance offers discounts for teen driver, alternative fuel, pay in full, switch companies, good student, electronic funds transfer, and business and professional.
• USAA offers premium reductions for good student, loyalty savings, multi-policy, vehicle storage, defensive driver, driver training, and annual mileage.
• Liberty Mutual policyholders can earn discounts including teen driver discount, multi-policy, newly retired, preferred payment discount, hybrid vehicle, and safety features.

The chart below compares auto insurance rates with and without discounts being applied to the rates. The price estimates are based on a female driver, no claims or driving violations, Hawaii state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, vehicle safety, defensive driving course, multiple policy, marriage, and accident-free discounts applied. With discounts applied, the the average amount saved on car insurance for business use is 28% or $330.

The chart below illustrates how your deductible choice can influence insurance rates when searching for cheap insurance for business use. The rate quotes are based on a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.

A 50-year-old driver could pocket $180 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $272 by using a $1,000 deductible. Even younger insureds, like the age 20 example, could drop their prices $450 annually just by choosing larger deductibles. If you do raise deductibles, it is a good idea to have enough in a savings account to be able to cover the extra out-of-pocket expense, which deters some people from using high deductibles.

How to find the cheapest car insurance for business use in Hawaii

The list below details some penny-pinching ideas that can help drivers find cheap coverage.

• Safe vehicles cost less to insure
• Avoid getting citations and tickets
• Improve your credit
• Avoid accidents and claims
• Do not file small claims
• Comparison shop at least every other year

The last idea is highly vital, as was discussed in the prior article. Insurance rates in Hawaii adjust often, so don’t be tentative to buy from a new company if a lower price can be found.

Staying with the same car insurance company is fine, but it’s not recommended if that loyalty ends up costing thousands of dollars over the life of your policy. Spend a few minutes and compare prices and find cheaper insurance for business use.