Save Money on Chevy Corvette Insurance in Honolulu

  1. Home
  2. >
  3. Honolulu Auto Insurance
  4. >
  5. Chevrolet Corvette

Searching for more competitive Chevy Corvette insurance in Honolulu? Saving money on Chevy Corvette insurance in Honolulu is always hard for people who have little experience shopping for insurance online. There are so many agents and companies to choose from that it can easily become more work than you anticipated to find better prices on Chevy Corvette insurance.

Discount Chevy Corvette insuranceIt's hard to fathom, but nearly 70% of consumers kept their policy with the same company for four years or more, and practically 40% of insurance customers have never even compared quotes to find lower-cost rates. With the average insurance premium being $962, Honolulu drivers could save $356 each year just by getting comparison quotes, but they don't believe how much they could save if they switched.

Consumers should take time to do price comparisons on a regular basis since prices go up and down regularly. Despite the fact that you may have had the lowest price on Chevy Corvette insurance in Honolulu a year ago other companies may now be cheaper. Forget anything you know (or think you know) about insurance because it's time to teach you the easiest way to save on insurance.

How to buy Chevy Corvette insurance in Honolulu, Hawaii

To find inexpensive Honolulu auto insurance quotes, there are several ways to compare rate quotes from many car insurance companies in Hawaii. By far the easiest way to find the lowest rates involves getting comparison quotes online. Keep in mind that making a lot of price comparisons will enable you to find a lower rate. Some regional insurers cannot provide Honolulu Corvette insurance quotes online, so it's necessary to compare price estimates from those companies as well.

The following companies are our best choices to provide quotes in Hawaii. If multiple providers are shown, it's highly recommended you get prices from several of them to get a more complete price comparison.

Insurance rates and discounts

Insuring your fleet can be pricey, but companies offer discounts that could drop your premiums quite a bit. Some discounts apply automatically at the time of quoting, but some must be inquired about prior to getting the savings.Save money with discounts

  • Discount for Passive Restraints - Factory options such as air bags and/or automatic seat belt systems may earn rate discounts of more than 20%.
  • Memberships - Affiliation with a professional or civic organization could earn you a nice discount on your policy.
  • Life Insurance - If the company offers life insurance, you could get a lower rate if you buy a life policy as well.
  • Student Driver Training - Cut your cost by having your teen driver take driver's ed class if it's offered in school.
  • No Claim Discounts - Drivers with accident-free driving histories can earn big discounts as compared to drivers with a long claim history.

Remember that most of the big mark downs will not be given to all coverage premiums. Most cut individual premiums such as collision or personal injury protection. Just because you may think you could get a free insurance policy, you won't be that lucky. Any amount of discount will definitely reduce your overall bill.

The illustration below shows the comparison of Chevy Corvette auto insurance rates with and without discounts applied to the rates. The premium estimates are based on a male driver, no claims or driving violations, Hawaii state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-policy, claim-free, homeowner, safe-driver, and multi-car discounts applied.

Larger insurance companies and the discounts they provide can be read below.

  • State Farm offers discounts including safe vehicle, Drive Safe & Save, multiple policy, multiple autos, and anti-theft.
  • GEICO offers premium reductions for five-year accident-free, emergency military deployment, daytime running lights, seat belt use, and good student.
  • Allstate includes discounts for premier discount, premier plus, 55 and retired, good student, teenSMART discount, anti-lock brakes, and FullPay discount.
  • SAFECO discounts include drive less, safe driver, teen safety rewards, teen safe driver, anti-lock brakes, and accident prevention training.
  • Farm Bureau may have discounts that include multi-policy, 55 and retired, good student, multi-vehicle, youthful driver, renewal discount, and safe driver.
  • Progressive may offer discounts for online quote discount, multi-vehicle, continuous coverage, online signing, and good student.
  • AAA policyholders can earn discounts including multi-policy, good driver, good student, AAA membership discount, pay-in-full, education and occupation, and anti-theft.

If you need lower rates, check with all companies you are considering the best way to save money. Some of the discounts discussed earlier may not apply in every state. To find insurance companies that offer multiple discounts in Honolulu, click here to view.

Insurance statistics and figures

The coverage table displayed next showcases estimates of coverage costs for Chevy Corvette models. Learning a little about how insurance premiums are figured can assist in making smart choices when choosing a car insurance company.

Chevrolet Corvette Insurance Rates in Honolulu, HI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corvette 2-Dr Coupe $198 $418 $198 $12 $60 $886 $74
Corvette GS 2-Dr Coupe $236 $466 $198 $12 $60 $972 $81
Corvette 2-Dr Convertible $236 $466 $254 $16 $76 $1,048 $87
Corvette GS 2-Dr Convertible $254 $516 $254 $16 $76 $1,116 $93
Corvette Z06 2-Dr Coupe $254 $516 $198 $12 $60 $1,040 $87
Corvette ZR1 2-Dr Coupe $328 $710 $198 $12 $60 $1,308 $109
Get Your Own Custom Quote Go

Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Hawaii minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Rate quotes do not factor in Honolulu location which can impact premium rates significantly.

Deductible analysis

One of the more difficult decisions when buying insurance is how high should the physical damage deductibles be. The rates below can help illustrate the premium difference of buying low and high physical damage coverage deductibles. The first data set uses a $250 deductible for physical damage and the second price grid uses a $500 deductible.

Chevrolet Corvette insurance policy rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corvette 2-Dr Coupe $284 $528 $174 $10 $52 $1,073 $89
Corvette GS 2-Dr Coupe $336 $590 $174 $10 $52 $1,187 $99
Corvette 2-Dr Convertible $336 $590 $226 $14 $68 $1,259 $105
Corvette GS 2-Dr Convertible $362 $652 $226 $14 $68 $1,347 $112
Corvette Z06 2-Dr Coupe $362 $652 $174 $10 $52 $1,275 $106
Corvette ZR1 2-Dr Coupe $468 $898 $174 $10 $52 $1,627 $136
Get Your Own Custom Quote Go
Chevrolet Corvette insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corvette 2-Dr Coupe $230 $426 $174 $10 $52 $892 $74
Corvette GS 2-Dr Coupe $274 $476 $174 $10 $52 $986 $82
Corvette 2-Dr Convertible $274 $476 $226 $14 $68 $1,058 $88
Corvette GS 2-Dr Convertible $294 $526 $226 $14 $68 $1,128 $94
Corvette Z06 2-Dr Coupe $294 $526 $174 $10 $52 $1,056 $88
Corvette ZR1 2-Dr Coupe $380 $724 $174 $10 $52 $1,340 $112
Get Your Own Custom Quote Go

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Hawaii minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Estimates do not factor in zip code location which can impact insurance rates considerably.

Based on the data above, we can derive that using a $250 deductible will cost in the ballpark of $18 more each month or $216 annually than selecting the higher $500 deductible. Because you would pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you go at least 14 months between claim filings, you would probably be better off if you choose the higher deductible.

How to determine when to raise your deductibles

Average monthly premium for $250 deductibles: $108
Average monthly premium for $500 deductibles (subtract): - $90
Monthly savings from raising deductible: $18
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $18
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 14 months

The information below demonstrates how deductible levels and can influence Chevy Corvette insurance costs for each age group. Data assumes a married female driver, comp and collision included, and no discounts are applied to the premium.

Six Tips to Get Cheaper Honolulu Insurance Costs

One of the most helpful ways to save on auto insurance is to to have a grasp of the factors that are used to determine your premiums. When consumers understand what determines base rates, this allows you to make good choices that will entitle you to much lower annual insurance costs.

Listed below are some of the items used by your company to calculate rates.

Raise your coverage deductibles for better premiums - The deductibles represent how much money you are required to spend out-of-pocket in the event of a claim. Protection for physical damage, otherwise known as comp (or other than collision) and collision, protects your car from damage. Some examples of covered claims are rear-ending another vehicle, collision with a deer, and damage from wind. The more the insured has to pay upfront, the less your auto insurance will be.

High credit means lower rates - Having a good credit history is likely to be a major factor in determining what you pay for auto insurance. Consumers who have very high credit ratings tend to file fewer claims and have better driving records than drivers with poor credit. If your credit is lower than you'd like, you may save money insuring your Chevrolet Corvette by improving your credit score.

Gender and car insurance prices - Statistics have proven that females take fewer risks when driving. However, this does not mean women are BETTER drivers than men. Both sexes cause accidents in similar numbers, but males have costlier accidents. Men also get ticketed for serious violations like reckless driving and DUI.

The information below illustrates the comparison of Chevy Corvette yearly insurance costs for male and female drivers. The premium estimates are based on no violations or claims, full physical damage coverage, $250 deductibles, single status, and no discounts are factored in.

The more you drive the more you pay - The more miles you rack up on your Chevy annually the higher the price you pay to insure it. Most companies charge to insure your cars based on how the vehicle is used. Cars and trucks that sit idle most of the time receive lower rates compared to those used for work or business. Improper usage on your Corvette can cost quite a bit. It's a smart idea to ensure your auto insurance policy states annual mileage, because it can save money.

You might want pay the minor insurance claims yourself - Auto insurance companies in Hawaii provide discounts to policyholders that do not abuse their auto insurance. If you are the type of insured that files lots of claims you can look forward to increased rates or even have your policy non-renewed. Your car insurance is intended for claims that you cannot pay yourself.

Insurance rates for married couples - Walking down the aisle can actually save you money on your auto insurance bill. It generally demonstrates drivers are more mature and statistics show married drivers tend to have fewer serious accidents.

Insurance loss probability for a Chevy Corvette - Insurers analyze past claim statistics in order to profitably underwrite each model. Models that the data shows to have higher prevalence or dollar amount of losses will cost more to insure.

The table shown below demonstrates the insurance loss data for Chevy Corvette vehicles. For each policy coverage, the loss probability for all vehicles, as an average, is considered to be 100. Numbers under 100 suggest a better than average loss history, while values that are 100 or greater indicate a higher chance of having a claim or statistically larger losses.

Chevrolet Corvette Insurance Claim Statistics
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Chevrolet Corvette 2dr 116 36 101 42 48 39
Chevrolet Corvette Convertible 99 25 57 36
Chevrolet Corvette Z06 2dr 176 126
BETTER
AVERAGE
WORSE

Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years