Get Cheap Hawaii Car Insurance by Increasing Your Deductible

How is your Hawaii car insurance rate affected by the deductible you choose? The deductible is the amount you agree to pay before the insurance company will pay out any money on a claim. When a car insurance customer agrees to shoulder a higher level of financial responsibility in this way, the insurance company rewards him or her by charging lower rates.

If you increase the deductible on your Hawaii car insurance to $500 or $1,000, you can save money on your premium rates. How much can you save? It depend on the insurance company. Since each one sets its own rates, you can save hundreds of dollars on your coverage annually by taking the time to shop around for the best pricing.

When you ask for quotes for car insurance, ask how much you will have to pay if you choose a higher deductible. Be sure to keep track of the different deductible levels when you review each quote so that you are making your decision based on a review of companies offering similar terms.

Consider your deductible level carefully before you choose one. It may be tempting to choose a higher one to get the benefit of lower premiums, but you want to be careful when making this decision. You don’t want to set your premium level so high that it causes financial hardship if you are involved in an accident.