Hawaii Auto Insurance
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Hawaii Auto Insurance Requirements
TV commercials, mailboxes, magazine ads—no matter where you look, chances are you’ll see ads from different auto insurance companies promising to save you money by offering the lowest rates. If you’re shopping for newHawaii auto insurance, chances are someone’s going to win your business. Before you shop, know Hawaii’s auto insurance laws so you don’t end up paying for coverage you don’t need.
Hawaii is a No-fault State
Like several others, Hawaii is a no-fault state meaning that if you’re in an accident your insurer will cover the costs of your medical expenses and repairs, regardless of who caused that accident. In most no-fault states, drivers are required to carry PIP or personal injury protection; but drivers with decent health insurance usually won’t need more than the state minimum.
Even though it’s a no-fault state, Hawaii still requires liability insurance. Sometimes medical expenses and auto repair costs incurred by the party not at fault will exceed the pre-established dollar amounts and when this happens, liability coverage takes over. Minimum requirements in Hawaii are 20/40/10.
Hawaii Minimum Liability Amounts
When choosing minimum liability amounts, your insurer pays up to $20,000 towards the bodily injury expenses suffered by a single occupant in the other vehicle, or $40,000 towards all occupants’ combined bodily injury-related expenses. The insurer also covers up to $10,000 in damage done to fences, buildings, signage, the other vehicle and other property caused by the accident. Any repair costs above this amount are the responsibility of the insured.
Collision Insurance Coverage
Collision, an optional coverage in Hawaii, pays to repair damage to the car belonging to the at-fault driver; however the driver won’t be paid more than the car’s current market value. When repair costs exceed this, the car is declared “totaled” and won’t be repaired. Instead, the insurer will pay the policyholder an amount equal to the car’s value. Should the car’s loan balance be higher than the car’s value, the policyholder will benefit from having gap coverage.
Another valuable but optional insurance in Hawaii is Uninsured/Underinsured Motorist. This protects the insured against hit-and-run accidents and accidents involving uninsured at-fault motorists, or motorists whose insurance is not enough to cover the insured’s bodily injury and/or car repair costs.
Hawaii Department of Commerce and Consumer Affairs
Get answers to your Hawaii auto insurance questions at www.hawaii.gov/dcca/areas/ins or contact the Hawaii Department of Commerce and Consumer Affairs at (808) 586-2790.