A recent NerdWallet.com study revealed that most drivers have purchased from the same company for more than four years, and approximately 40% of consumers have never compared insurance rates at all. Many consumers in Toledo can cut their rates by almost $730 a year by just comparing quotes, but they don’t believe the actual amount they would save if they replace their high priced policy.
The most effective way to get the cheapest auto insurance rates is to compare prices annually from companies in Toledo. Rates can be compared by following these guidelines.
First, read and learn about car insurance and the things you can control to prevent expensive coverage. Many things that result in higher rates like accidents, traffic tickets, and poor credit rating can be amended by making small lifestyle or driving habit changes. This article provides instructions to help prevent expensive coverage and find additional discounts.
Second, compare price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can give quotes from a single company like GEICO or Farmers Insurance, while independent agencies can quote rates from multiple insurance companies.
Third, compare the new quotes to your existing coverage to see if a cheaper price is available. If you can save some money, make sure there is no lapse in coverage.
Fourth, provide adequate notice to your current company of your intention to cancel your current coverage and submit payment and a signed application to the newly selected company. Once received, keep the new proof of insurance paperwork somewhere easily accessible.
The most important part of shopping around is to try to use the same amount of coverage on every quote request and and to get prices from as many car insurance companies as possible. Doing this guarantees an apples-to-apples comparison and and a good selection of different prices.
To find cheaper Toledo car insurance quotes, there are several ways of comparing price quotes from lots of Ohio car insurance companies. The easiest way by far to compare rates is to jump online and get quotes. When price shopping your coverage, comparing more quotes increases the chance that you will find better pricing. Not every company does online price quotes, so it’s recommended that you also compare prices from them as well.
The companies shown below offer price quotes in Toledo, OH. In order to find the cheapest car insurance in OH, we recommend you get prices from several of them to get the best price comparison.
Statistics and details
The information below outlines detailed analysis of insurance prices for Chevy Malibu models. Knowing how insurance quotes are figured can help guide drivers when making smart choices when selecting a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Cost estimates assume married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, homeowner, and safe-driver. Table data does not factor in Toledo location which can influence coverage rates substantially.
The information below illustrates how your choice of deductibles and can influence Chevy Malibu insurance premiums for different ages of insureds. Data assumes a married female driver, full physical damage coverage, and no discounts are applied.
Insurance is an important decision
Even though it can be expensive, buying insurance may be mandatory for several reasons.
- Most states have compulsory liability insurance requirements which means it is punishable by state law to not carry a minimum amount of liability if you want to drive legally. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a loan on your Malibu, it’s most likely the lender will stipulate that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you default on your policy, the lender may insure your Chevy for a much higher rate and require you to pay for the expensive policy.
- Insurance preserves not only your vehicle but also your assets. It will also reimburse you for all forms of medical expenses for yourself as well as anyone injured by you. Liability coverage, the one required by state law, also covers all legal expenses up to the policy limit if anyone sues you for causing an accident. If damage is caused by hail or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage minus the deductible amount.
The benefits of carrying enough insurance are definitely more than the cost, particularly for liability claims. According to a recent study, the average American driver is wasting up to $865 each year so it’s very important to do a rate comparison at every renewal to ensure rates are competitive.
Companies offer lots of discounts on Chevy Malibu insurance in Toledo
Car insurance is not cheap nor is it fun to buy but you can get discounts that many consumers don’t even know exist. A few discounts will be applied at the time you complete a quote, but a few need to be asked for prior to getting the savings.
- Passive Restraints and Air Bags – Vehicles equipped with air bags and/or automatic seat belt systems can get savings of 25 to 30%.
- Defensive Driver Discounts – Successfully completing a class that teaches defensive driving techniques could save 5% or more and also improve your driving technique.
- More Vehicles More Savings – Drivers who insure more than one vehicle on a single policy could earn a price break for each car.
- College Student Discount – College-age children who live away from home to go to college and do not take a car to college may qualify for this discount.
- Anti-lock Brakes – Cars, trucks, and SUVs equipped with ABS or steering control can avoid accidents and qualify for as much as a 10% discount.
- Low Mileage – Keeping the miles down on your Chevy can qualify you for lower rates due to less chance of an accident.
- New Vehicle Savings – Buying a new car model can get you a discount because newer models have to meet stringent safety requirements.
- Bundle and Save – If you can bundle your home and auto insurance with one company they may give you a discount of up to 20% off your total Malibu insurance premium.
- Switch and Save Discount – A few car insurance companies allow discounts for switching to them prior to the expiration date on your current Malibu insurance policy. This discount can save up to 10%.
- Professional Organizations – Joining a civic or occupational organization in Toledo could qualify you for a break on your policy.
Drivers should understand that most credits do not apply to the entire policy premium. A few only apply to specific coverage prices like liability and collision coverage. Even though the math looks like having all the discounts means you get insurance for free, it doesn’t quite work that way. But any discount will help lower the amount you pay for coverage.
The illustration below shows the comparison of Chevy Malibu insurance prices with and without policy discounts. The costs are based on a male driver, a clean driving record, no claims, Ohio state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, safe-driver, multi-car, claim-free, marriage, and homeowner discounts applied.
A few popular companies and a partial list of their discounts are outlined below.
- 21st Century discounts include defensive driver, good student, early bird, theft prevention, and homeowners.
- Progressive offers premium reductions for homeowner, online quote discount, continuous coverage, good student, and multi-policy.
- State Farm has savings for multiple policy, accident-free, multiple autos, anti-theft, driver’s education, passive restraint, and defensive driving training.
- Nationwide has discounts for business or organization, easy pay, family plan, accident-free, and good student.
- Esurance policyholders can earn discounts including good student, safety device, defensive driver, homeowner, claim free, Pac-12 alumni, and anti-lock brakes.
- The Hartford may have discounts that include defensive driver, driver training, vehicle fuel type, bundle, air bag, anti-theft, and good student.
When comparing rates, check with all the companies to give you their best rates. Savings may not apply in your area.
Are insurance agents obsolete?
Some people just prefer to buy from a local agent and we recommend doing that A good thing about price shopping on the web is that drivers can save money and get the best rates but still work with a licensed agent.
Once you complete this simple form, your insurance data is emailed to local insurance agents that provide free Toledo car insurance quotes to get your business. You never need to search for any insurance agencies because quoted prices will be sent to you instantly. You’ll get the best rates without the usual hassles of price shopping. If you need to quote rates for a specific company, just find their quoting web page and fill out the quote form the provide.
Picking an provider should depend on more than just a cheap price. Here are some questions to ask:
- How long have they worked with personal auto insurance coverage?
- How long has their agency been in business in Toledo?
- Are they involved in claim handling?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- Does the company use OEM repair parts?
- Do you qualify for any additional discounts?
Exclusive and independent Toledo auto insurance agents
When narrowing the list to find a reliable insurance agency, you need to know there are two types of insurance agents and how they function. Auto insurance policy providers are categorized either exclusive or independent (non-exclusive).
Exclusive insurance agents can only provide one company’s prices and examples are Farmers Insurance, State Farm, or Allstate. Exclusive agencies are unable to compare rates from other companies so always compare other rates. These agents receive a lot of sales training in insurance sales which aids in selling service over price. Consumers frequently buy insurance from these agents partially due to the brand legacy rather than low rates.
Shown below is a list of exclusive agencies in Toledo who may provide you with comparison quotes.
- Farmers Insurance – Nicholas Chupp
2338 W Laskey Rd – Toledo, OH 43613 – (419) 861-3412 – View Map
- Jamie Mauntler – State Farm Insurance Agent
5401 Secor Rd – Toledo, OH 43623 – (419) 474-0559 – View Map
- Vince Davis State Farm Insurance
3344 Secor Rd – Toledo, OH 43606 – (419) 244-2904 – View Map
Independent agents often have many company appointments so they can write business through many different auto insurance companies and possibly get better coverage at lower prices. If your agent finds better pricing, they simply switch companies in-house and you don’t have to switch agencies. When comparing rate quotes, you will want to get several quotes from at least one independent agent so that you can do a thorough price comparison. Most independent agents also contract with smaller regional carriers that may provide cheaper auto insurance rates.
The following is a list of independent insurance agencies in Toledo that can give you comparison quotes.
- Kranz PJ Insurance Agency
4349 Talmadge Rd – Toledo, OH 43623 – (419) 473-2416 – View Map
- Nationwide Insurance: AOK Ins and Financial Services LLC
4452 Heatherdowns Blvd – Toledo, OH 43614 – (419) 472-9405 – View Map
- Fox Insurance
4560 Heatherdowns Blvd # 103 – Toledo, OH 43614 – (419) 385-2797 – View Map
Your situation helps dictate your coverage
When it comes to proper insurance coverage, there really isn’t a one size fits all plan. Every situation is different.
For example, these questions may help highlight whether you would benefit from professional advice.
- Is extra glass coverage worth it?
- Can I get a multi-policy discount?
- What is the rate difference between pleasure use and commuting?
- Will my Chevy Malibu be repaired with OEM or aftermarket parts?
- Is my cargo covered for damage or theft?
- Am I missing any policy discounts?
- Is my trailer covered?
- What if an uninsured driver hits me?
- What is the difference between personal and commercial auto insurance policies?
If you don’t know the answers to these questions, you may need to chat with a licensed agent. If you don’t have a local agent, fill out this quick form.
Insurance policy coverages for a Chevy Malibu
Knowing the specifics of insurance helps when choosing the best coverages for your vehicles. Insurance terms can be difficult to understand and nobody wants to actually read their policy.
Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against things such as hitting a bird, vandalism, hail damage, hitting a deer and a tree branch falling on your vehicle. The maximum amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.
Uninsured and underinsured coverage
This protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. Covered losses include hospital bills for your injuries as well as damage to your Chevy Malibu.
Since many Ohio drivers only purchase the least amount of liability that is required (which is 25/50/25), it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important.
Liability auto insurance
Liability insurance will cover damage or injury you incur to a person or their property by causing an accident. It protects you from claims by other people. Liability doesn’t cover your injuries or vehicle damage.
Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 25/50/25 that translate to $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property.
Liability insurance covers claims like medical services, court costs, funeral expenses and repair costs for stationary objects. How much liability should you purchase? That is a personal decision, but you should buy as much as you can afford. Ohio state law requires minimum liability limits of 25/50/25 but it’s recommended drivers buy better liability coverage.
The illustration below demonstrates why the minimum limit may not be adequate.
Coverage for medical payments
Medical payments and Personal Injury Protection insurance kick in for expenses for pain medications, funeral costs and doctor visits. They are used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. It covers you and your occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage
Collision coverage protection
This coverage pays for damage to your Malibu resulting from a collision with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision can pay for claims such as hitting a mailbox, backing into a parked car, rolling your car, sideswiping another vehicle and colliding with a tree. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible on your Malibu to bring the cost down.
Keep this in mind when shopping around
Lower-priced auto insurance in Toledo is definitely available on the web as well as from independent agents in Toledo, so get free Toledo car insurance quotes from both of them to have the best chance of lowering rates. There are still a few companies who do not provide price quotes online and most of the time these small, regional companies work with independent insurance agencies.
We’ve covered some good ideas how you can find cheaper Chevy Malibu insurance in Toledo. The key thing to remember is the more price quotes you have, the higher your chance of finding affordable Chevrolet Malibu insurance quotes. You may even discover the most savings is with the smaller companies.
Insureds switch companies for a variety of reasons including lack of trust in their agent, not issuing a premium refund, an unsatisfactory settlement offer and questionable increases in premium. No matter why you want to switch, choosing a new company is pretty easy and you might even save some money in the process.
Additional information can be read at the links below
- Teen Driver Licensing Information (iihs.org)
- Who Has Cheap Auto Insurance for 19 Year Olds in Toledo? (FAQ)
- Who Has Affordable Auto Insurance for Electric Cars in Toledo? (FAQ)
- Who Has the Cheapest Toledo Car Insurance for College Students? (FAQ)
- Who Has Cheap Toledo Car Insurance Quotes for Low Credit Scores? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for a Toyota Tacoma in Toledo? (FAQ)
- Eight Auto Insurance Myths (Insurance Information Institute)
- Anti-Lock Brake FAQ (iihs.org)
- Collision Insurance Coverage (Nationwide)