While huge differences exist in culture, climate, and geography exist between the mainland U.S. and Hawaii, insurance is surprisingly similar in many ways. Not only are Hawaii insurance rates on par with those of the contiguous 48, the types of policies available to Hawaiians are also nearly identical to those you'd find in just about any other state. Though Hawaii insurance policies are not as unique as one might imagine, there are specific considerations that come with living in Hawaii which can affect policies and policy holders. Here are a few things to think about when shopping for insurance in Hawaii, as well as a few of the reasons why Hawaii insurance quotes are making a big difference for many policy holders throughout the state.
Hawaii Insurance Rates
Though permanent residents certainly have an edge over tourists when it comes to purchasing day-to-day items, no one can deny the fact that it's not cheap to live in Hawaii. Insurance is surprisingly unaffected, however, by either the Aloha State's geographic peculiarities or its reputation for high living costs. According to the National Association of Insurance Commissioners, the average cost of Hawaii auto insurance is $873 a year (putting it just over the national average of $795); the most popular home insurance policy across the nation, the HO-3, costs an average of $776 a year in Hawaii and $804 a year nationwide. These averages say very little about individual policies, but they do illustrate one important piece of information very well: Hawaiians don't pay much more or much less for common insurance policies than mainland Americans.
Common Tactics for Lowering Insurance Costs
No matter how similar your insurance costs are to the national or statewide averages, there are few people out there who would pass up a rate reduction if it was offered. If your budget is already a bit tight, there are several ways to lower insurance expenses worth considering. Policy alterations like lowering limits, increasing the deductible, or reducing the amount of incidents covered by your policy are probably the fastest way to reduce insurance costs, but they are also the most risky. When and if an incident occurs, a higher deductible, lowered limits, or omissions in covered perils can lead to much higher out-of-pocket expenses, a pretty sticky situation for an already stretched budget.
For many policy holders in Hawaii, insurance discounts are a far better option for lowering rates. Since insurance companies base your premiums on not just the coverage you purchase, but on your relative risk as a policy holder, making yourself or your insured vehicle or property less likely to be damaged can be rewarded with reduced rates. Need Business insurance? Upgrading old plumbing and electrical wiring in your home? You may be eligible for a rate reduction on your homeowners insurance. Taken a defensive driving course or installed a car burglar alarm? You may be eligible for a rate reduction on your auto insurance. Discounts can vary from company to company and even from year to year, so make sure you discuss available discounts for your auto, home, business, health, and life insurance with your provider regularly.
Hawaii Insurance Quotes
The estimates or quotes you can get (for free) from insurance companies in your area are an extremely valuable tool for finding the lowest rates possible on the policy you need. For most folks in Hawaii, auto insurance quotes are going to vary slightly from one company to the next; however, in some cases, the company-to-company variation can be more pronounced. For a few policy holders in Hawaii, home insurance quotes can vary by hundreds of dollars a year, but the only way you'll know if you can save hundreds by buying your policy from a different provider is to get multiple quotes from several competing companies. NetQuote makes this easy. Simply fill out a brief online form and NetQuote will do your legwork for you. Before you know it, you'll have quotes from multiple companies in your area waiting to be compared at your leisure. Even if you don't find a provider offering the policy you want for hundreds of dollars less than your current rates, your free quotes will at least give you the peace-of-mind that your current provider is giving you a competitive rate.
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