Buying the best cheap coverage for a Chevy Silverado in Hawaii depends on a complicated rating formula that uses factors such as whether you are male or female, your claims history, and your policy deductibles. Drivers will pay on average $816 annually for Silverado insurance, but that amount is an estimation using a 30-year-old married female driver with full coverage and $500 deductibles.
Odds are that you are not 30 and maybe not even a female, maybe you are single instead of married, and you may just want the cheapest liability coverage you can find. Everone’s needs are different, and this illustrates why the only way to find cheap insurance prices for your Chevrolet is to do your own rate comparisons.
Your Chevrolet’s trim level tends to have a direct impact on price, so the rate you pay to insure a Silverado LS Regular Cab 2WD trim level will be $158 cheaper than the cost to insure the fancier Silverado Crew Cab Hybrid 4WD version, as shown below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$140||$224||$306||$18||$92||$780||$65|
|Silverado LS Regular Cab 4WD||$140||$224||$270||$16||$80||$730||$61|
|Silverado LT Regular Cab 2WD||$162||$272||$306||$18||$92||$850||$71|
|Silverado LT Regular Cab||$162||$272||$306||$18||$92||$850||$71|
|Silverado LS Extended Cab 4WD||$162||$272||$270||$16||$80||$800||$67|
|Silverado LT Extended Cab 4WD||$162||$272||$270||$16||$80||$800||$67|
|Silverado LT Extended Cab 2WD||$162||$272||$306||$18||$92||$850||$71|
|Silverado LS Extended Cab 2WD||$162||$272||$306||$18||$92||$850||$71|
|Silverado LT Crew Cab 4WD||$182||$320||$270||$16||$80||$868||$72|
|Silverado LS Crew Cab 2WD||$182||$320||$306||$18||$92||$918||$77|
|Silverado LS Crew Cab 4WD||$182||$320||$270||$16||$80||$868||$72|
|Silverado LT Crew Cab 2WD||$182||$320||$306||$18||$92||$918||$77|
|Silverado LTZ Extended Cab 2WD||$182||$320||$306||$18||$92||$918||$77|
|Silverado LTZ Extended Cab 4WD||$182||$320||$270||$16||$80||$868||$72|
|Silverado LTZ Crew Cab 2WD||$182||$320||$306||$18||$92||$918||$77|
|Silverado LTZ Crew Cab 4WD||$182||$320||$270||$16||$80||$868||$72|
|Silverado Crew Cab Hybrid 2WD||$182||$370||$270||$16||$80||$918||$77|
|Silverado Crew Cab Hybrid 4WD||$202||$370||$270||$16||$80||$938||$78|
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Data variables include married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Hawaii minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Estimates do not factor in specific location which can raise or lower auto insurance rates considerably.
Locating budget auto insurance is not the easiest thing to accomplish, and finding out which company has the cheapest car insurance rates for a Chevy Silverado involves even more rate comparisons. Each insurance company has their own formula for determining rates, so let’s rank the most affordable car insurance companies in Honolulu.
Find the Best Cheap Insurance for Your Silverado Truck
|Rank||Company||Cost Per Year|
|7||First of Hawaii||$1,928|
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USAA may offer some of the lowest car insurance rates in Honolulu at around $936 each year. This is $660 less than the average rate paid by Hawaii drivers of $1,596. State Farm, GEICO, Liberty Mutual, and Progressive would also make the list of some of the cheapest Honolulu, HI auto insurance companies.
In this example, if you currently buy coverage from GEICO and switched to USAA, you could realize an annual savings of in the neighborhood of $440. Drivers with Liberty Mutual could save as much as $528 a year, and Progressive insureds might realize rate reductions of up to $688 a year.
Understand that those estimates are averaged across all drivers and vehicles and do not take into consideration an exact zip code location for a Chevy Silverado. So the auto insurance company that fits your needs best may not even be in the list above. That emphasizes why you need to get quotes using your own driver and vehicle profiles.
Types of discounts on Honolulu car insurance rates
Insurers that provide coverage for a Chevy Silverado could also offer special discounts that could potentially reduce rates by 25% or more if you qualify. Popular car insurance companies and the discounts they provide are:
- Farm Bureau policyholders can earn discounts including renewal discount, multi-policy, driver training, multi-vehicle, and 55 and retired.
- MetLife has savings for good driver, multi-policy, claim-free, accident-free, good student, and defensive driver.
- Progressive has discounts for multi-policy, online quote discount, homeowner, online signing, and continuous coverage.
- AAA discounts include education and occupation, multi-policy, good driver, good student, anti-theft, AAA membership discount, and multi-car.
- American Family offers premium reductions for bundled insurance, good student, defensive driver, TimeAway discount, mySafetyValet, Steer into Savings, and multi-vehicle.
- GEICO may offer discounts for air bags, membership and employees, anti-lock brakes, defensive driver, and anti-theft.
- State Farm offers discounts for safe vehicle, student away at school, good driver, Steer Clear safe driver discount, Drive Safe & Save, and accident-free.
The illustration below shows the comparison of insurance premiums with and without discounts applied to the policy premium. The rates are based on a female driver, no accidents, no driving violations, Hawaii state minimum liability limits, comp and collision included, and $250 deductibles.
The first bar for each age group shows the price with no discounts. The second shows the rates with vehicle safety, safe-driver, passive restraint, homeowner, multiple policy, and claim-free discounts applied. When these discounts are applied, the average amount saved each year on car insurance for a Chevy Silverado is 28% or $460.
The diagram below illustrates how choosing a deductible can affect insurance prices when researching cheap insurance for a Chevy Silverado. The rate quotes are based on a single female driver, full coverage, and no discounts are applied.
The data above shows that a 50-year-old driver could pocket $332 a year by changing from a $100 deductible to a $500 deductible, or save $502 by selecting a $1,000 deductible. Younger drivers, such as the 20-year-old chart data, could potentially save up to $854 annually just by using higher deductibles.
If you make the decision to raise deductibles, it is a good idea to have additional funds squirreled away to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
Compare quotes and save
Hawaii car insurance rates are calculated based on many things that may substantially change the price you have to pay for coverage. Turning one year older, marrying your spouse, or getting a reckless driving citation can trigger rate changes that may make certain companies cheaper than competitors.
Not only may your risk profile change, but insurance companies modify pricing every year or even multiple times each year to help ensure profitability. Heavy losses can cause rate hikes, while lower claims can result in cheaper Silverado insurance rates.
For example, the chart below shows a variety of companies that have the cheapest car insurance in Honolulu, HI for a 45-year-old male driver with a clear driving record, no claims, and great credit. Based on his current rating profile, USAA may offer the cheapest car insurance rates in Honolulu at $993 a year. This is $603 less than the average rate paid by Hawaii drivers of $1,596. State Farm, GEICO, Liberty Mutual, and Progressive are the remainder of the cheapest Honolulu, HI auto insurance companies.
Now we will pretend the driver from the first example an at-fault accident, less-than-perfect credit, and a speeding ticket. Due to the fact that every auto insurer uses their own calculation to establish rates, comparing rates may result in a significantly different list of affordable Honolulu car insurance companies as shown below.
State Farm now has the best auto insurance rate in Honolulu with USAA, Liberty Mutual, GEICO, and Allstate also being competitive. This example proves why Hawaii drivers need to spend some time comparing rates to get cheap insurance quotes for a Chevy Silverado. Insurance prices are determined by many risk factors and can increase or decrease at any time, so the most economical company when you bought your policy may now be quite expensive.
How to find economical car insurance for a Chevy Silverado
The list below shows a few penny-pinching solutions that can help you quote lower-cost auto insurance.
- Good credit can save money
- Buy a vehicle with excellent safety ratings
- Increase your physical damage deductibles
- Claim-free policyholders usually earn a discount
- Do not pay for full coverage on older vehicles
- Buy your homeowners policy from the same company as your auto insurance
- Shop around for cheaper prices often
That last tip is extremely crucial, as we pointed out in this article. Prices charged by auto insurers can change significantly in a year, so don’t be tentative to change insurance companies if a better rate can be found. Many drivers have brand loyalty and that’s fine, but it’s not a great idea if that devotion results in you overpaying a fortune every year. In just a couple of minutes you could compare rates to find cheaper auto insurance for a Chevy Silverado in Honolulu.
The agents below are willing to aid you in deciding which car insurance policy is best, since many consumers aren’t sure which coverage to buy and prefer to have the advice of a professional agent when comparing insurance rates for a Chevy Silverado. It can be hard to find the cheapest auto insurance company, and a licensed agent can bring comfort knowing you have suitable coverage if you ever need to use it.
To locate a Honolulu insurance agent nearest to you, click the link at the bottom or click here to compare prices now.
Insurance Associates, Inc.
800 Bethel St # 200 – Honolulu, HI 96813 – (808) 538-6938
Marilyn Jacobe – State Farm Insurance Agent
1125 N King St #303 – Honolulu, HI 96817 – (808) 254-7028
Anita Butay Diniega
1088 Bishop St #2210 – Honolulu, HI 96813 – (808) 841-5915