News Release: Consumers Could Save Hundreds of Dollars by Reviewing Insurance Policies

Posted on Jan 13, 2015 in News Releases

DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
Insurance Division

DAVID Y. IGE
GOVERNOR

CATHERINE P. AWAKUNI COLÓN
INTERIM DIRECTOR

GORDON I. ITO
INSURANCE COMMISSIONER

FOR IMMEDIATE RELEASE
Jan. 13, 2015

Consumers Could Save Hundreds of Dollars by Reviewing Insurance Policies
Insurance Division Releases Annual Premium Comparison Guide
to Help Residents Shop and Compare

HONOLULU, HI – The Hawaii Insurance Division’s premium comparison guide will help consumers shop and compare with ease. The 2015 version for homeowner and motor vehicle policies are available online at cca.hawaii.gov/ins. The Division encourages policyholders to shop and compare between companies and to review these guides and talk with their agent to make sure they are adequately covered for the New Year.

“You could potentially save hundreds of dollars by reviewing our premium comparison guide and figuring out which insurers are charging less,” said Insurance Commissioner Gordon Ito. “Consumers often tell us that our guide helped them figure out who to call and the type of questions to ask about their policy.”

The list shows the breakdown of premiums by island. Motor vehicle owners can use the guide to compare sample premium rates specifically for a 2013 Honda Accord, LX, four-door sedan. Homeowners can view policies based on a sampling of three different structure types.

The Insurance Division also publishes a guide for health insurance premiums for individuals and small businesses. These guides are meant to be a tool that will show premiums offered by insurers on and off the Hawaii Health Connector if a 2015 Affordable Care Act (ACA) plan is purchased.

For information and to access the guides, please visit the following websites:

The Hawaii Insurance Division oversees the Hawaii insurance industry, issues licenses; examines the fiscal condition of Hawaii-based companies; reviews rate and policy filings; and investigates insurance related complaints.

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Media Contact:
Lindsay Chambers
Department of Commerce and Consumer Affairs
(808) 586-7582
Lindsay.K.Chambers@dcca.hawaii.gov
cca.hawaii.gov