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Hawaii is the worst state for insurance discounts

By Erika Engle

POSTED:
LAST UPDATED: 08:46 a.m. HST, Jun 04, 2014


The average $116 discount Hawaii consumers receive for buying car and home insurance from the same company is the lowest in the nation, according to insuranceQuotes.com.

A study by the online company and Quadrant Information Services found the national average savings to be $270 a year, a 15 percent discount.

However, states where consumers are offered the highest average savings are Louisiana, at $505, Oklahoma, at $468, Texas, at $435, Mississippi, at $422 and No. 5, Missouri, at $366.

"Consolidating your insurance policies with a single company is one of the easiest ways to save money," said Laura Adams, senior analyst at insuranceQuotes.com, in a statement. "The differences between states can be attributed to competitive and regulatory factors," she said.

The full list of discount data for all 50 states and Washington, D.C., is online.

http://www.insurancequotes.com/home/bundling-insurance







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XML808 wrote:
The Insurance Commissioner, Gordon Ito, should seriously look into this. The Insurance Division needs to provide tools for the consumer to compare rates in a more realistic fashion.
on June 4,2014 | 07:32AM
Anonymous wrote:
Makes one wonder who they are protecting, not the consumer it would seem.
on June 4,2014 | 10:51AM
Mickels8 wrote:
No need to. The auto insurance market is extremely competitive and Hawaii's premiums are generally very low in comparison with other states. The tools you are requesting (i.e., premium worksheets) are already available on the Insurance Division website.
on June 4,2014 | 01:41PM
suyama wrote:
XML808 - you can find a consumer rate comparison for both home and auto insurance policies on the homepage of the division http://cca.hawaii.gov/ins/
on June 5,2014 | 08:42AM
KaneoheSJ wrote:
So what's new here? From local fast food franchises to gas stations gouging customer, this is par for the course. I'm sure that that these same insurance companies will claim the same, "cost of doing business in Hawaii" mantra. Then they come up with the "Buy Local" jingle to try and get us "local" customers to buy their overpriced wares blindly. Yes, it keeps the money in our local economy. But for who? The local rich businesses? It leaves the locals broke.
on June 4,2014 | 11:10AM
Mickels8 wrote:
The story is misleading. Hawaii has some of the cheapest insurance auto rates in the nation. Who cares how much discounts we get as long as the net cost is low in comparison to the other states?
on June 4,2014 | 01:37PM
suyama wrote:
XML808 - you can find a consumer rate comparison for both home and auto insurance policies on the homepage of the division http://cca.hawaii.gov/ins/
on June 5,2014 | 08:41AM
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