Save Money on Chevy Suburban Insurance in Toledo

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Chevy Suburban insurance
Chevy Suburban insurance image courtesy of QuoteInspector.com

Discount Chevy Suburban insuranceThe preferred way to get affordable car insurance rates in Toledo is to regularly compare prices from providers in Ohio. You can compare prices by completing these steps.

First, try to understand car insurance and the steps you can take to keep rates down. Many policy risk factors that result in higher prices such as high-risk driving behaviors and a bad credit score can be controlled by making small lifestyle or driving habit changes.

Second, request rate estimates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can give quotes from a single company like GEICO or Allstate, while independent agents can provide prices for a wide range of insurance providers. Compare rates now

Third, compare the quotes to your existing rates and see if you can save money. If you find a better price and change companies, make sure coverage does not lapse between policies.

Fourth, provide notification to your current agent or company to cancel your current car insurance policy. Submit payment and a completed application for the new policy. Once the application is submitted, safely store the proof of insurance certificate in your glove compartment.

One thing to point out is to use identical deductibles and limits on every quote and and to get price estimates from as many carriers as you can. This provides a fair rate comparison and the most accurate and complete price analysis.

Amazingly, nearly 70% of customers have bought insurance from the same company for a minimum of four years, and almost half have never compared insurance rates at all. Many drivers in the United States can save roughly $850 each year, but they just don't understand how easy it is to compare rate quotes online.

If you have a policy now or just want to reduce your rates, follow these tips to get lower rates without reducing coverage. Buying the cheapest auto insurance in Toledo is much easier if you have a good place to start. Drivers just have to know the least time-consuming way to shop their coverage around from many different companies online.

How to shop Chevy Suburban insurance online

The companies in the list below are ready to provide quotes in Toledo, OH. To get the cheapest car insurance in OH, it's a good idea that you click on several of them to find the most competitive auto insurance rates.

Analysis of coverages

The rate table displayed next covers a range of insurance policy prices for Chevy Suburban models. Learning as much as possible about how rates are figured is important for making decisions on which insurance to purchase.

Chevrolet Suburban Insurance Rates in Toledo, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Suburban LS 2WD $124 $198 $214 $12 $64 $612 $51
Suburban LT 2WD $124 $198 $214 $12 $64 $612 $51
Suburban LS 4WD $124 $198 $214 $12 $64 $612 $51
Suburban LT 4WD $124 $198 $214 $12 $64 $612 $51
Suburban LTZ 2WD $124 $234 $214 $12 $64 $648 $54
Suburban LTZ 4WD $138 $234 $214 $12 $64 $662 $55
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Prices above based on married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Prices do not factor in your specific Toledo location which can alter prices substantially.

How high should deductibles be?

When comparing car insurance rates, the most common question is which deductibles should you choose. The following insurance rates may help to illustrate the costs and benefits between high and low physical damage coverage deductibles. The first rate comparisons uses a $250 deductible and the second price chart uses a $1,000 deductible.

Chevrolet Suburban insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Suburban LS 2WD $198 $296 $226 $14 $68 $827 $69
Suburban LT 2WD $198 $296 $226 $14 $68 $827 $69
Suburban LS 4WD $198 $296 $226 $14 $68 $827 $69
Suburban LT 4WD $198 $296 $226 $14 $68 $827 $69
Suburban LTZ 2WD $198 $348 $226 $14 $68 $879 $73
Suburban LTZ 4WD $220 $348 $226 $14 $68 $901 $75
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Chevrolet Suburban insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Suburban LS 2WD $122 $186 $226 $14 $68 $616 $51
Suburban LT 2WD $122 $186 $226 $14 $68 $616 $51
Suburban LS 4WD $122 $186 $226 $14 $68 $616 $51
Suburban LT 4WD $122 $186 $226 $14 $68 $616 $51
Suburban LTZ 2WD $122 $220 $226 $14 $68 $650 $54
Suburban LTZ 4WD $136 $220 $226 $14 $68 $664 $55
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Estimates do not factor in vehicle garaging location which can affect insurance rates greatly.

Based on this data, we can arrive at the conclusion that using a $250 deductible will cost you approximately $19 more each month or $228 every year than quoting the higher $1,000 deductible. Since you would have to pay $750 more to file a claim with a $1,000 deductible as compared to a $250 deductible, if you usually have more than 39 months between claims, you would probably be better off if you choose the higher deductible.

The information below illustrates how your deductible choice and can influence Chevy Suburban premium costs for different insured age categories. The premiums assume a married male driver, full physical damage coverage, and no discounts are applied to the premium.

Chevrolet Suburban insurance premiums by gender

The chart below illustrates the difference between Chevy Suburban insurance rates for male and female drivers. The premium estimates are based on no accidents, no driving violations, comp and collision included, $500 deductibles, single status, and no discounts are applied.

Full coverage versus liability-only in Toledo

The chart below compares Chevy Suburban yearly insurance costs with and without physical damage coverage. The price estimates are based on a clean driving record, no at-fault accidents, $100 deductibles, drivers are not married, and no additional discounts are factored in.

Are you wasting money paying for full coverage?

There is no exact rule to eliminate full coverage, but there is a general guideline. If the annual cost of your full coverage insurance is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it's probably a good time to buy liability coverage only.

For example, let's assume your Chevy Suburban replacement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company will settle for is $2,000 after you pay the deductible. If it's costing you more than $200 a year for your policy with full coverage, then it might be time to consider dropping full coverage.

There are some situations where dropping physical damage coverage is not advised. If you still have a lienholder on your title, you must maintain physical damage coverage to satisfy the loan requirements. Also, if you can't afford to buy a different vehicle if your current one is totaled, you should not consider dropping full coverage.

Informed Consumers Save More

Lots of things are part of the calculation when premium rates are determined. Some factors are common sense such as traffic violations, although some other factors are not as apparent such as your marital status or your commute time. Smart consumers have a good feel for the rating factors that go into determining car insurance rates. When you understand what influences your rates, this empowers consumers to make smart changes that could result in big savings.

Listed below are some of the most rate-impacting factors used by your company to calculate prices.

Buy as much liability protection as you can afford - The liability section of your policy is the protection if ever you are responsible for causing damage or personal injury in an accident. This coverage provides legal defense up to the limits shown on your policy. It is affordable coverage compared to other policy coverages, so do not skimp.

Avoid unnecessary extra policy coverages - There are quite a few additional extra coverages that can add up but may not be useful. Coverages for personal injury protection, towing, and extra equipment coverage could be just wasting money. These may sound like a good investment at first, but your needs may have changed so eliminate the coverages to reduce your premium.

A coverage lapse is a bad thing - Not having insurance can get your license suspended and you will pay a penalty because you let your coverage have a gap. Not only will you pay more, failure to provide proof of insurance may earn you a fine, jail time, or a revoked license. You may need to prove you have insurance by filing a SR-22 with the Ohio DMV.

Filing policy claims can cost you - Car insurance companies in Ohio give the best rates to insureds who are not frequent claim filers. If you file claims often, you can expect increased rates or even have your policy non-renewed. Insurance coverage is intended for the large, substantial claims.

Where you live plays a part - Choosing to live in less populated areas of the country may provide you with better prices when trying to find low car insurance rates. Fewer people translates into fewer accident claims. Drivers who live in large Ohio cities regularly have more auto accidents and longer commutes to work. More time on the road means more chances of being involved in an auto accident.

Pay more by driving carelessly - Drivers with clean records pay less for auto insurance than bad drivers. Even one driving citation may cause rates to rise forty percent or more. Drivers who have multiple violations like hit and run, DWI or reckless driving convictions are required to submit a SR-22 or proof of financial responsibility with their state DMV in order to prevent a license revocation.

The example below demonstrates how speeding tickets and at-fault claims raise Chevy Suburban auto insurance rates for different age groups. Data assumes a married female driver, comp and collision included, $1,000 deductibles, and no discounts are taken into consideration.

Raising coverage deductibles saves money - Insurance for physical damage, also known as collision and other-than-collision, insures against damage to your Chevy. Some coverage claims are a broken windshield, hitting a deer, or theft. Deductibles for physical damage define the amount you are willing to pay if a covered claim is submitted. The higher the amount you are required to pay out-of-pocket, the better rate you will receive.

Insurance losses for a Chevy Suburban - Insurers use past insurance losses to calculate a price that will offset any claims. Vehicles that statistically have higher prevalence or dollar amount of losses will cost more for specific coverages.

The table below outlines the insurance loss data used by companies for Chevy Suburban vehicles. For each coverage type, the statistical loss for all vehicles averaged together is represented as 100. Percentages below 100 represent a good loss history, while percentages above 100 show a trend for more claims or statistically larger claims.

Chevrolet Suburban Insurance Claim Statistics
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Chevrolet Suburban 1500 4dr 2WD 90 92 90 67
Chevrolet Suburban 1500 4dr 4WD 109 113 124 72 70
BETTER
AVERAGE
WORSE

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

Insurance just makes sense

Despite the high cost of buying insurance for a Chevy Suburban in Toledo, insuring your vehicle may not be optional for several reasons.

  • The majority of states have minimum mandated liability insurance limits which means state laws require a specific level of liability coverage in order to license the vehicle. 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 Suburban, almost every bank will force you to have physical damage coverage to ensure the loan is repaid in case of a total loss. If you default on your policy, the bank will be required to insure your Chevy at a more expensive rate and force you to pay for it.
  • Insurance safeguards both your car and your personal assets. Insurance will pay for hospital and medical expenses for not only you but also any passengers injured in an accident. Liability coverage, the one required by state law, will also pay for a defense attorney if you are sued as the result of your driving. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive coverages will pay to repair the damage.

The benefits of carrying enough insurance more than cancel out the cost, particularly for liability claims. According to a 2015 survey, the average American driver is currently overpaying as much as $820 a year so we recommend shopping around at every renewal to ensure rates are inline.