Chevy Equinox insurance rates image courtesy of QuoteInspector.com
Would you like to buy lower-priced Chevy Equinox insurance in Toledo? Are you tired of wondering where the money will come from to pay auto insurance each month? You have the same problem as many other vehicle owners in Ohio.
It's a known fact that car insurance companies want to keep you from comparing rates. Drivers who shop around for cheaper prices are likely to buy a new policy because they stand a good chance of finding coverage at a more affordable price. A recent survey found that consumers who regularly compared price quotes saved as much as $3,500 over four years compared to drivers who never compared rates.
If finding the lowest price for Chevy Equinox insurance is your target objective, then knowing how to shop and compare coverages can help make the process easier and more efficient.
Steps to finding lower priced Chevy Equinox insurance in Toledo
It takes a few minutes, but the best way to find low-cost prices for car insurance rates in Toledo is to make a habit of regularly comparing prices from companies that insure vehicles in Ohio. Drivers can shop around by completing these steps.
- Read and learn about how insurance companies determine prices and the factors you can control to prevent high rates. Many things that increase rates such as your driving record and a lousy credit rating can be eliminated by improving your driving habits or financial responsibility.
- Request price quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only quote rates from a single company like GEICO or Allstate, while independent agencies can provide rate quotes from multiple insurance companies. Begin your rate comparison
- Compare the new rate quotes to your current policy premium to see if switching to a new carrier will save money. If you find a lower rate quote and switch companies, ensure there is no coverage lapse between policies.
- Provide adequate notice to your current company of your decision to cancel your existing policy and submit any necessary down payment along with the completed application to the newly selected company. Don't forget to put the new proof of insurance certificate with the vehicle registration.
A key point to remember is to use the same physical damage deductibles and liability limits on each quote and and to look at as many companies as feasibly possible. Doing this enables an accurate price comparison and and a good selection of different prices.
Vehicle owners have so many car insurance companies to purchase coverage from, and even though it's nice to have a selection, more choices can make it harder to locate the cheapest rates for Chevy Equinox insurance in Toledo.
It's a good habit to shop coverage around before your next renewal because prices tend to go up over time. Just because you found the lowest rates on Chevy Equinox insurance in Toledo a couple years back there is a good chance you can find better premium rates now. Ignore everything you know about auto insurance because it's time to teach you the fastest and easiest way to lower your annual insurance bill.
Locating the best rates in Toledo is quite easy. Basically, everyone who wants cheaper auto insurance will more than likely find a lower price. But Ohio consumers should learn how the larger insurance companies calculate your policy premium because rates are impacted by many factors.
Best companies for low-cost Chevy Equinox insurance in Ohio
The companies shown below have been selected to offer price quotes in Ohio. To locate the best auto insurance in Toledo, it's a good idea that you compare several of them to get a more complete price comparison.
Car insurance analysis for a Chevy Equinox
The premium information shown below highlights a range of insurance policy prices for Chevy Equinox models. Having a good grasp of how policy premiums are calculated can assist in making smart buying decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Equinox LS 2WD||$106||$182||$232||$14||$70||$604||$50|
|Equinox LT 2WD||$106||$182||$232||$14||$70||$604||$50|
|Equinox LS AWD||$106||$182||$232||$14||$70||$604||$50|
|Equinox LT AWD||$106||$182||$232||$14||$70||$604||$50|
|Equinox LTZ 2WD||$118||$214||$232||$14||$70||$648||$54|
|Equinox LTZ AWD||$118||$214||$232||$14||$70||$648||$54|
|Equinox LTZ AWD||$118||$214||$232||$14||$70||$648||$54|
|Get Your Own Custom Quote Go|
Above prices assume married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, multi-policy, and claim-free. Premium amounts do not factor in specific location which can modify coverage rates noticeably.
Rate comparison of full coverage and liability-only
The diagram below shows the comparison of Chevy Equinox insurance rates when comparing full coverage to liability only. The price estimates are based on no tickets, no at-fault accidents, $1,000 deductibles, marital status is single, and no discounts are factored in.
When to eliminate full coverage
There is no definitive guideline to exclude comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let's assume your Chevy Equinox replacement value is $9,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $8,000 after paying your policy deductible. If premium cost is more than $800 annually for physical damage coverage, then you might want to think about dropping full coverage.
There are a few situations where buying only liability insurance is not in your best interest. If you have an outstanding loan on your vehicle, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should not drop full coverage.
What Affects Chevy Equinox Insurance Rates?
Smart consumers have a good feel for the different types of things that help calculate insurance rates. If you understand what influences your rates, this helps enable you to make changes that can help you get lower premium levels.
Shown below are some of the items that factor into your premiums.
Get cheaper rates after the wedding - Being married can get you a discount when buying insurance. Having a spouse may mean you are more financially stable and insurance companies like that married couples file fewer claims.
Tickets and citations cost more than a fine - A bad driving record has a big impact on rates. Even one ticket can bump up the cost twenty percent or more. Good drivers tend to pay less for car insurance as compared to those with violations. Drivers who have received careless violations such as DUI or reckless driving may find they need to prove financial responsibility with their state DMV in order to legally drive.
The illustration below shows how violations and at-fault accidents can affect Chevy Equinox annual premium costs for different age categories. The prices are based on a single male driver, full coverage, $500 deductibles, and no additional discounts are factored in.
Rural vs Urban Areas - Choosing to live in a small town has it's advantages when shopping for auto insurance. People in densely populated areas tend to have more aggressive driving styles and longer commute times. Fewer people means less chance of accidents as well as less vandalism and auto theft.
Don't skimp on liability insurance - The liability section of your policy will provide protection in the event that you are found to be at fault for damages caused by your negligence. Liability provides legal defense which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap when compared to the cost of physical damage coverage, so insureds should have plenty of protection for their assets.
Buy a safe car and pay less - Cars with five star safety ratings tend to have better insurance rates. Safe vehicles result in less severe injuries and fewer serious injuries means your insurance company pays less and cheaper rates on your policy. If your Chevy scored better than an "acceptable" rating on the Insurance Institute for Highway Safety website you are probably receiving a discount.
Pay more for higher performance vehicles - The make and model of the car you are trying to find cheaper insurance for makes a big difference in your premium level. Low performance passenger cars usually are quite affordable to insure, but the final cost of insurance is determined by many other factors.
The following chart is based on a single female driver age 20, full coverage with $500 deductibles, and no discounts or violations. It shows Chevrolet Equinox policy rates compared to other models that have different risk factors.
Insurance loss statistics a Chevy Equinox - Companies take into consideration historical loss data for every vehicle to help calculate premium costs. Vehicles that the data shows to have a trend towards higher claims will have higher premium rates.
The data below shows the historical insurance loss data for Chevy Equinox vehicles. For each insurance policy coverage type, the loss probability for all vehicles, without regard to make or model, is equal to 100. Numbers below 100 indicate a favorable loss history, while percentage values above 100 point to more losses or an increased chance of larger losses than average.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Chevrolet Equinox 4dr 2WD||82||86||74||101||104||93|
|Chevrolet Equinox 4dr 4WD||84||88||85||89||93||81|
Statistics from IIHS.org for 2013-2015 Model Years
These discounts can lower Chevy Equinox insurance rates
Companies offering auto insurance do not list all their discounts very clearly, so the list below gives a summary of a few of the more well known and the harder-to-find discounts that you can inquire about if you buy Toledo car insurance online. If you're not getting every credit available, you could be paying more than you need to.
- New Vehicle Savings - Adding a new car to your policy can be considerably cheaper because new vehicles keep occupants safer.
- Discount for Home Ownership - Owning a home in Toledo can earn you a little savings since home ownership demonstrates responsibility.
- Senior Citizen Rates - Mature drivers can possibly qualify for a small decrease in premiums.
- Discounts for Cautious Drivers - Drivers who don't get into accidents may receive a discount up to 45% than drivers with accidents.
- Anti-theft System - Vehicles with anti-theft systems prevent vehicle theft so companies will give you a small discount.
- Anti-lock Brake Discount - Vehicles with anti-lock braking systems can reduce accidents and earn discounts up to 10%.
- Student in College - Any of your kids who are attending college and don't have a car could qualify for this discount.
- No Claim Discounts - Insureds who avoid accidents and claims are rewarded with significantly better rates on Toledo car insurance quote as compared to insureds who have frequent claims or accidents.
Discounts save money, but please remember that most of the big mark downs will not be given to the whole policy. Most only apply to specific coverage prices like comprehensive or collision. Just because you may think you can get free auto insurance, companies wouldn't make money that way. But all discounts should help reduce your overall bill.
The diagram below visualizes the comparison of Chevy Equinox annual premium costs with and without policy discounts. The premiums are based on a female driver, no claims or driving citations, Ohio state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-policy, safe-driver, multi-car, claim-free, and homeowner discounts applied.
Some companies that have most of these discounts possibly include:
When getting free Toledo car insurance quotes, it's a good idea to every insurance company to give you their best rates. All car insurance discounts may not apply to policyholders in every state. To see companies that offer the discounts shown above in Ohio, follow this link.
Buying car insurance from Toledo auto insurance agents
Some people just want to sit down and talk to an agent and that can be a great decision An additional benefit of comparing insurance prices online is you can get cheap car insurance quotes and still have a local agent.
After completing this short form, your coverage information is emailed to local insurance agents who can give free rate quotes to get your business. It's much easier because you don't need to even leave your home since price quotes are sent to the email address you provide. You can find the lowest rates without a big time investment. If you need to get a rate quote from a particular provider, just search and find their rate quote page and submit a quote form there.
Choosing the best insurer is decision based upon more than just a cheap quote. Here are some questions you should ask.
- Has the agent ever had any license suspensions?
- If your car is totaled, how to they determine the replacement cost?
- Are they actively involved in the community?
- Will the agent or a CSR service your policy?
- Are they paid to recommend certain coverages?
- Where would your vehicle be repaired?
- Do they regularly work with personal auto policies in Toledo?
The different types of car insurance agents
If you're trying to find a reliable insurance agent, there are two different types of agencies from which to choose. Toledo agents are either independent (non-exclusive) or exclusive.
Exclusive Insurance Agents
These agents can only provide one company's prices such as American Family, State Farm, and AAA. They generally cannot provide rate quotes from other companies so they have no alternatives for high prices. They are highly trained on their products and sales techniques which helps them sell on service rather than price.
Below are Toledo exclusive agencies that can give you price quotes.
Independent Agencies or Brokers
Independent agents are not restricted to one company so they can quote policies through lots of different companies and find you cheaper rates. If you are not satisfied with one company, your policy is moved internally and you won't have to switch agencies.
If you are comparing car insurance prices, we highly recommend that you get quotes from several independent insurance agents to have the most options to choose from.
The following are Toledo independent insurance agencies who can help you get rate quotes.
Insurance can get complicated
When quoting and choosing your policy, there really is not a one size fits all plan. Your financial needs are unique.
For instance, these questions can aid in determining if your insurance needs will benefit from professional help.
- Is my cargo covered for damage or theft?
- Should I have a commercial auto policy?
- Does my insurance cover a custom paint job?
- Do I need an umbrella policy?
- Why am I be forced to buy a membership to get insurance from some companies?
- If my pet gets injured in an accident are they covered?
- How high should my medical payments coverage be?
If you don't know the answers to these questions, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form.
One last note
Insureds change insurance companies for any number of reasons including denial of a claim, policy cancellation, lack of trust in their agent and policy non-renewal. No matter why you want to switch, finding the right insurance provider can be easier than you think.
A few companies may not provide rate quotes online and these small insurance companies only sell through independent agencies. Lower-priced insurance in Toledo can be purchased online and from local agencies, and you should compare price quotes from both to have the best rate selection.
As you shop your coverage around, it's very important that you do not skimp on coverage in order to save money. There are many occasions where an insured cut uninsured motorist or liability limits only to regret at claim time that it was a big mistake. Your aim should be to buy a smart amount of coverage at the best possible price, not the least amount of coverage.
Steps to finding affordable quotes for Chevy Equinox insurance in Toledo
Really, the only way to get discount Chevy Equinox insurance is to start comparing rates regularly from companies in Toledo. You can shop around by following these steps.
- Take a few minutes and learn about how your policy works and the measures you can control to drop your rates. Many rating factors that cause high rates like traffic violations and an unacceptable credit history can be amended by paying attention to minor details.
- Get rate quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only quote rates from a single company like GEICO and Allstate, while agents who are independent can provide prices for a wide range of insurance providers. Click to view companies
- Compare the new rates to the premium of your current policy and see if there is a cheaper rate in Toledo. If you find a lower rate quote and switch companies, ensure there is no coverage lapse between policies.
- Notify your company or agent of your intention to cancel the current policy and submit the required down payment along with the signed application to the new company. Immediately keep your new proof of insurance paperwork with your registration paperwork.
An important bit of advice to remember is that you use the same liability limits and deductibles on every quote request and and to get price estimates from as many carriers as you can. This guarantees the most accurate price comparison and a good representation of prices.
Additional information can be read at these links:
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- Who Has Cheap Car Insurance Quotes for Low Income Drivers in Toledo? (FAQ)
- A Tree Fell on Your Car: Now What? (Allstate)
- Prepare your Teens for Safe Driving (InsureUonline.org)
- Auto Insurance Learning Center (State Farm)