Like most other states in the US, Hawaii requires every driver to carry a personal auto insurance coverage. For businesses, commercial auto insurance policy is also required. There should be proof of insurance available at all times.
There are over 120,000 small businesses that operate in Hawaii. Each of these businesses requires the use of vehicles to transport goods, employees, and other operational needs. If you want to protect your business from significant financial impact involving accidents, collisions, and other risks on the road, auto insurance coverage for your business vehicles is a must.
To meet the requirements of the state law, the minimum coverage for commercial auto insurance in Hawaii is $20,000 for bodily injury (per person) or $40,000 per accident. There should also be coverage worth $10,000 for property damage per accident. The personal injury protection (PIP) starts with a value of $10,000. Non-trucking liability insurance is another type to consider if you plan to use this vehicle type for something other than business.
These are the limits required by the state. Therefore, your commercial auto insurance coverage should be higher than these limits in order to be considered valid. Failure to comply with these requirements and show proof of insurance coverage could met a fine of $1,500 and suspension of driver’s license.
When compared to other states in the US, the minimum coverage requirements are on the lower end. Make sure you consider the risks on your business, particularly the type of vehicle you are using, so you can get the right amount of protection.
The commercial auto insurance rates in Hawaii vary significantly based on factors such as vehicle type, level of coverage, nature of business, type of cargo, and the insurance company. Larger vehicles such as tow trucks, food trucks, and heavy trucks are more costly to insure than taxis, limos, and vans.
The annual rate for low coverage can range from $969 to $4,500. Meanwhile, the annual rate for high coverage starts at $1,100 and can be as high as $4,900.
1022 Bethel St, Honolulu, HI 96813
(808) 643-4000
http://islandinsurance.com/
94-547 Ukeʻe Street #300, Waipahu, HI 96797
(808) 836-2277
https://carrsinsuranceagency.com/
1363 Nuuanu Ave, Honolulu, HI 96817
(919) 230-8514
https://www.geico.com/commercial-auto-insurance/
201 Merchant St, Honolulu, HI 96813
(808) 533-3222
http://www.atlasinsurance.com/
275 Ponahawai St #105, Hilo, HI 96720
(808) 961-3207
http://www.hawaiiislandinsurance.com/
65-1206 Mamalahoa Hwy #3, Waimea, HI 96743
(808) 883-2447
https://allislandinsurance.biz/
1600 Kapiolani Blvd #1520, Honolulu, HI 96814
(808) 944-5400
http://www.dtric.com/
Six Waterfront Plaza, 500 Ala Moana Blvd 5th Floor, Honolulu, HI 96813
(800) 549-7029
http://www.farmershawaii.com/