Hawaii is the only state that mandates full coverage car insurance, and average annual car insurance premiums in Hawaii average around $1,306; that is substantially less than the national average of $2,682. While factors like your age, driving history and type of car you drive can influence rates significantly; using an online car insurance calculator like MoneyGeek’s can help estimate how much coverage will cost when travelling through Hawaii.
Your car’s age plays an integral part in your insurance premiums. In general, older cars tend to cost more to insure than newer ones due to needing more maintenance and being stolen more frequently; adding a teenage driver could increase premiums up to 1.7x!
Additionally to your car model and value, its value has an effect on your rates. High-value vehicles tend to cost more to insure as repairs can be more expensive and theft risk increases; so before buying one in Hawaii be sure to research insurance costs first.
An at-fault accident on your record can significantly raise your car insurance rates. Geico provides drivers in Hawaii who have caused an accident with rates 45% lower than average; their minimum and full coverage rates are considerably more cost effective than Island Insurance which offers similar products at similar prices.
An offense such as DUI can increase car insurance premiums significantly. Farmers offers Hawaii drivers who have received DUI-related tickets the lowest rates – 44% below average full coverage policies! In addition, Geico and USAA both provide affordable full-coverage plans suitable for DUI offenders.
Hawaii provides consumer complaint data on insurers to the public through their Department of Commerce and Consumer Affairs website. This data can help you assess whether an insurance provider is reliable, as well as financially stable enough to pay claims in case of an accident.
Hawaii insurance regulators oversee insurance providers through its Department of Commerce and Consumer Affairs, who creates and enforces state insurance laws as well as managing complaints about the companies operating within Hawaii.
Hawaii stands apart from most states by not using age as a major rating factor when setting rates, leading to more similar teen and adult premiums. Gender also doesn’t factor into their calculations and men and women should expect similar premiums provided that all other rating factors remain equal. Furthermore, Hawaii prohibits credit scores being used when calculating premiums which should ensure more consistent rates across demographics.