Car Insurance Quotes for a Chevy Aveo in Honolulu

Insurance quote for Chevy Aveo in HonoluluIf you want to find the absolute lowest rates, then the best way to find cheaper prices for Chevy Aveo insurance in Honolulu is to start comparing prices regularly from companies who can sell car insurance in Hawaii.

First, learn about how your policy works and the steps you can take to drop your rates. Many policy risk factors that cause rate increases such as speeding and a less-than-favorable credit score can be rectified by being financially responsible and driving safely. Continue reading for information to help prevent expensive coverage and find possible discounts that are available.

Second, get rate quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only provide price estimates from a single company like Progressive or Allstate, while independent agencies can provide price quotes from multiple companies. View prices

Third, compare the price quotes to your existing rates to see if switching to a new carrier will save money. If you find better rates and buy the policy, verify that coverage does not lapse between policies.

Fourth, tell your current agent or company of your decision to cancel the current policy and submit any necessary down payment along with the completed application to your new company or agent. Once coverage is bound, keep the new certificate of insurance in your vehicle’s glove compartment or console.

A valuable tip to remember is that you’ll want to compare the same coverage limits and deductibles on each price quote and and to get quotes from all possible companies. This guarantees a level playing field and a complete price analysis.

Surprisingly, a recent survey revealed that nearly 70% of drivers renewed their policy with the same company for at least the last four years, and just short of a majority have never quoted rates to find lower-cost coverage. With the average insurance premium being $960, Honolulu drivers can save hundreds of dollars each year, but most undervalue the large savings they would see if they switched to a cheaper policy.

Insurance data for a Chevy Aveo

The rate table shown next showcases different insurance coverage prices for Chevy Aveo models. Learning more about how premiums are determined can aid in making informed purchases.

Chevrolet Aveo Insurance Rates in Honolulu, HI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Aveo LS 4-Dr Hatchback $140 $314 $358 $22 $106 $940 $78
Aveo LS 4-Dr Sedan $140 $314 $358 $22 $106 $940 $78
Aveo LT 4-Dr Hatchback $158 $314 $358 $22 $106 $958 $80
Aveo LT 4-Dr Sedan $158 $314 $358 $22 $106 $958 $80
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Above prices assume single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Hawaii minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Estimates do not factor in specific zip code location which can raise or lower auto insurance rates significantly.

Physical damage deductible comparison

One of the hardest decisions when shopping for insurance is how high should the physical damage coverage deductibles be. The rates below illustrate the rate fluctuation between low and high coverage deductibles. The first set of rates uses a $100 deductible and the second set of prices uses a $1,000 deductible.

Chevrolet Aveo insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Aveo LS 4-Dr Hatchback $228 $484 $264 $16 $80 $1,097 $91
Aveo LS 4-Dr Sedan $228 $484 $264 $16 $80 $1,097 $91
Aveo LT 4-Dr Hatchback $258 $484 $264 $16 $80 $1,127 $94
Aveo LT 4-Dr Sedan $258 $484 $264 $16 $80 $1,127 $94
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Chevrolet Aveo insurance policy rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Aveo LS 4-Dr Hatchback $126 $256 $264 $16 $80 $742 $62
Aveo LS 4-Dr Sedan $126 $256 $264 $16 $80 $742 $62
Aveo LT 4-Dr Hatchback $142 $256 $264 $16 $80 $758 $63
Aveo LT 4-Dr Sedan $142 $256 $264 $16 $80 $758 $63
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Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Hawaii minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Estimates do not factor in zip code location which can modify rates substantially.

Based on this data, we can arrive at the conclusion that using a $100 deductible could cost the average driver approximately $30 more each month or $360 a year averaged for all Aveo models than buying the higher $1,000 deductible. Since you would pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have more than 30 months between claims, you would come out ahead if you choose the higher deductible.

How to determine if a higher deductible is a good idea

Average monthly premium for $100 deductibles: $93
Average monthly premium for $1,000 deductibles (subtract): – $63
Monthly savings from raising deductible: $30
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $30
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 30 months

Do you need full coverage?

The diagram below visualizes the comparison of Chevy Aveo premium costs with and without full coverage. The rate quotes are based on a clean driving record, no at-fault accidents, $250 deductibles, drivers are single, and no discounts are taken into consideration.

When to stop buying physical damage coverage

There is no specific rule for phasing out comp and collision coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is about 10% or more of the replacement cost minus the deductible, then it might be time to consider dropping full coverage.

For example, let’s assume your Chevy Aveo replacement value is $6,000 and you have $1,000 deductibles. If your vehicle is totaled, you would only receive $5,000 after you pay the deductible. If you are paying more than $500 annually for your policy with full coverage, then it’s probably a good time to buy liability coverage only.

There are a few situations where removing full coverage is not financially feasible. If you still have a loan on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not consider dropping full coverage.

Choices You Make Can Impact Your Insurance Costs

An important part of buying insurance is that you know some of the factors that aid in calculating your premiums. If you have some idea of what determines base rates, this empowers consumers to make smart changes that can earn you lower premium levels. Many things are used in the calculation when you get your auto insurance bill. Some are pretty understandable like an MVR report, but other criteria are more transparent like where you live or your commute time.

Increase comp and collision deductibles and save – Coverage for physical damage, also called ‘full coverage’, covers your vehicle from damage. Examples of covered claims would be collision with another vehicle, flood damage, and having your car stolen. The deductibles you choose state the amount of money you are required to spend before your auto insurance pays a claim. The more money you pay before a claim is paid (deductible), the less your auto insurance will be.

Rural vs Urban Areas – Having an address in areas with lower population can be a good thing if you are looking for the lowest rates. Drivers who live in large cities regularly have more road rage incidents and much longer commute distances. Fewer people translates into fewer accident claims in addition to fewer liability claims.

Liability protection risk factors – The liability coverage on your policy will afford coverage if you are ruled to be at fault for personal injury or accident damage. Your policy’s liability insurance provides for a legal defense to defend your case. Liability insurance is pretty cheap when compared to the cost of physical damage coverage, so drivers should buy more than the minimum limits required by law.

Annual mileage and car insurance premiums – Driving more miles every year the higher the price you pay to insure it. Many insurance companies rate vehicles partially by how you use the vehicle. Cars and trucks left parked in the garage qualify for better rates than cars that get driven a lot. Having an incorrect usage rating on your Aveo is just wasting money. Ask your agent if your auto insurance policy reflects the correct driver usage, because it can save money.

Insurance is expensive for teen drivers – More mature drivers have been proven to be more responsible, tend to file fewer claims, and get fewer tickets. Teenage drivers are statistically proven to be careless and easily distracted in a vehicle so auto insurance rates are higher.

The next chart is based on a single driver, full coverage with $250 deductibles, and no discounts or violations.

Theft deterrents systems cut premiums – Owning a car with a theft deterrent system can get you a discount on your auto insurance. Systems that thwart thieves like GM’s OnStar, tamper alarm systems and vehicle immobilizers can help prevent car theft and help bring rates down.

More stress means more cost – Careers like real estate brokers, police officers, and accountants tend to pay higher premiums than the average policyholder in part from stressful work requirements and lots of time spent away from family. On the flip side, jobs like actors, historians and performers have lower than average premiums.

Which auto insurance company is best in Honolulu?

Choosing the top auto insurance company is difficult considering how many choices there are in Honolulu. The company ratings shown below could help you decide which car insurance providers you want to consider putting your business with.

Top 10 Honolulu Car Insurance Companies Overall

  1. USAA
  2. American Family
  3. State Farm
  4. The Hartford
  5. AAA Insurance
  6. GEICO
  7. Progressive
  8. Allstate
  9. Nationwide
  10. Liberty Mutual

Quote often and quote early

As you quote Honolulu auto insurance, you should never sacrifice coverage to reduce premiums. In many cases, an insured dropped liability limits or collision coverage to discover at claim time that it was a big error on their part. Your aim should be to buy enough coverage for the lowest price.

Throughout this article, we presented quite a bit of information on how to lower your Chevy Aveo insurance premium rates in Honolulu. It’s most important to understand that the more price quotes you have, the better chance you’ll have of finding the cheapest Chevrolet Aveo rate quotes. Drivers may even discover the lowest premium rates come from a company that doesn’t do a lot of advertising. These companies can often insure niche markets at a lower cost than the large multi-state companies such as GEICO and State Farm.

Much more information about auto insurance in Hawaii can be read below: