Auto Insurance Quotes for a Chevy Equinox in Louisville

If your goal is the lowest price, then the best way to find low-cost Chevy Equinox insurance is to make a habit of comparing prices annually from different companies who provide auto insurance in Louisville.

1. Read about auto insurance and the factors you can control to drop your rates. Many risk factors that result in higher prices such as traffic violations and a low credit rating can be improved by being financially responsible and driving safely. Continue reading for instructions to prevent high rates and find more discounts that you may not know about.
2. Get rate quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only provide price estimates from one company like GEICO or Allstate, while independent agents can quote rates for a wide range of companies.
3. Compare the price quotes to your current policy premium to determine if you can save on Equinox insurance. If you find a lower rate quote and change companies, make sure coverage does not lapse between policies.
4. Provide adequate notice to your current company to cancel your current coverage and submit payment along with a signed and completed policy application to your new agent or company. As soon as you can, safely store the proof of insurance certificate in your vehicle.

One important bit of advice is that you use identical limits and deductibles on each quote and and to get price quotes from every insurance company. Doing this enables a level playing field and the most accurate and complete price analysis.

Unimaginable but true, the vast majority of consumers kept their coverage with the same auto insurance company for four years or more, and roughly 40% of drivers have never compared rates to find cheap insurance. Many drivers in Louisville can save almost 30% each year, but they feel it’s too difficult to find cheap auto insurance rates.

What Impacts Chevy Equinox Insurance Premiums?

Lots of things are part of the equation when you get your auto insurance bill. Some are pretty understandable such as your driving record, but other criteria are more transparent such as whether you are married or your commute time.

Shown below are some of the things that factor into your rates.

Are you male or female? – Over the last 30 years, statistics show that men are more aggressive behind the wheel. The data does not necessarily mean that men are worse drivers. Both genders are in auto accidents at a similar rate, but guys cause more damage and cost insurance companies more money. Not only are claims higher, but men have more aggressive citations such as DWI and reckless driving. Young males tend to get in the most accidents and therefore pay the highest rates.

The chart below visualizes the comparison of Chevy Equinox insurance rates for male and female drivers. The premiums are based on no claims or driving citations, comp and collision included, $1,000 deductibles, drivers are not married, and no additional discounts are factored in.

Your location is important – Being located in smaller towns and rural areas of the country has it’s advantages when trying to find low car insurance rates. Urban drivers regularly have congested traffic and higher rates of accident claims. Less people living in that area corresponds to lower accident rates and lower theft and vandalism rates.

Safer vehicles cost less to insure – Safe vehicles tend to be cheaper to insure. These vehicles result in less severe injuries and any reduction in injury severity translates into fewer and smaller insurance claims which can result in lower premiums. If the Chevy Equinox is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website you may qualify for a discount.

Bump up comp and collision deductibles to lower rates – Protection for physical damage, also called ‘full coverage’, insures against damage to your Chevy. Some examples of covered claims are colliding with a building, vandalism, and damage caused by flying debris. The deductibles tell how much you are willing to pay before your car insurance pays a claim. The larger the amount you pay before a claim is paid (deductible), the less money you will pay for car insurance.

Car insurance policy lapses increase car insurance rates – Driving without insurance can get your license suspended and you will pay a penalty because you let your coverage lapse. In addition to paying higher premiums, the inability to provide proof of insurance will get you fines and jail time.

Your spouse saves you money – Being married can get you a discount on your policy. Having a spouse is viewed as being less irresponsible it has been statistically shown that married couples file fewer claims.

Do you really need the incidental coverages? – Insurance policies have a lot of additional coverages that sound like a good idea at the time if you aren’t careful. Coverages like rental car coverage, towing, and motor club memberships may be wasting your money. You may think they are a good idea when deciding what coverages you need, but if you have no use for them get rid of them and save.

Chevy Equinox claim statistics – Car insurance companies use claims history when they calculate premium costs for each model. Models that statistically have a higher amount or frequency of claims will cost more for specific coverages. The table shown below demonstrates the historical insurance loss data for Chevy Equinox vehicles.

For each insurance policy coverage type, the loss probability for all vehicles, regardless of make, model or trim level, equals 100. Values under 100 imply a favorable loss record, while values over 100 point to more frequent losses or an increased chance of a larger loss.

Just keep in mind that more quotes helps you find a better price. Some insurance companies are not set up to provide online Louisville Equinox insurance quotes, so you also need to get prices on coverage from those companies, too.

The car insurance companies shown below are ready to provide comparison quotes in Kentucky. If you want cheap car insurance in KY, we suggest you visit as many as you can to get a more complete price comparison.

Rates and statistics

The rate information displayed below showcases estimates of rate quotes for Chevy Equinox models. Being aware of how car insurance premiums are figured can be valuable when making smart choices when comparing insurance rates.

Table data represents married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, safe-driver, and multi-policy. Estimates do not factor in specific zip code location which can revise auto insurance rates significantly.

Where to set your deductibles

When buying insurance, a common question is where should you set your physical damage deductibles. The data tables below illustrate the costs and benefits between high and low insurance deductibles. The first table uses a $100 deductible for comprehensive and collision coverage and the second price chart uses a $500 deductible.

Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Premium costs do not factor in vehicle location which can impact premiums greatly.

Based on the data above, we can derive that using a $100 deductible costs about $23 more each month or $276 each year than requesting the higher $500 deductible. Since you would have to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you go at least 17 months between claims, you would probably be better off if you choose a higher deductible.

Should you buy full coverage?

The chart below illustrates the difference between Chevy Equinox insurance costs with full physical damage coverage compared to only buying liability only. The costs are based on no tickets, no at-fault accidents, $1,000 deductibles, marital status is single, and no discounts are taken into consideration.

Should you be buying full coverage?

There is no definitive rule for dropping physical damage insurance, but there is a general guideline. If the annual cost of coverage is more than about 10% of replacement cost minus your deductible, then you might consider buying liability only.

For example, let’s assume your Chevy Equinox replacement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company would pay you is $3,000 after the policy deductible has been paid. If premiums are more than $300 annually for your policy with full coverage, then it might be time to buy liability only.

There are some conditions where dropping full coverage is not advised. If you still have a loan on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not drop full coverage.

Choosing the best Chevy vehicle insurance in Kentucky is an important decision

Despite the high cost of buying insurance for a Chevy Equinox in Louisville, maintaining insurance serves an important purpose.

• The majority of states have minimum liability requirements which means state laws require a minimum amount of liability coverage if you want to drive legally. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
• If your Chevy Equinox has a loan, almost every bank will make it mandatory that you have insurance to guarantee loan repayment. If you default on your policy, the bank may buy a policy for your Chevy at an extremely high rate and require you to reimburse them for the expensive policy.
• Insurance protects both your vehicle and your personal assets. It will also pay for medical expenses for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance also covers all legal expenses up to the policy limit if you are sued as the result of your driving. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.

The benefits of buying enough insurance are definitely more than the cost, especially when you need to use it. Despite what companies tell you, the average driver is currently overpaying as much as $750 every year so we recommend shopping around at every renewal to be sure current rates are still competitive.

Auto insurance discounts help lower rates for Chevy Equinox insurance in Louisville

Some companies don’t always publicize every discount they offer very clearly, so we took the time to find both the well known as well as some of the hidden discounts that may be available.

• Discount for New Cars – Insuring a new Equinox can get you a discount because new vehicles keep occupants safer.
• Military Deployment Discount – Having an actively deployed family member could trigger a small discount.
• Paperwork-free – Some auto insurance companies will provide an incentive just for signing your application on the internet.
• Cautious Drivers – Drivers who avoid accidents could pay up to 40% less than their less cautious counterparts.
• Seat Belt Usage – Forcing all vehicle occupants to buckle up could save 15% off PIP or medical payments premium.
• Accident Free – Good drivers with no accidents can save substantially as compared to drivers with a long claim history.
• Onboard Data Collection – Policyholders that allow companies to look at when and where they use their vehicle by using a telematics device in their vehicle like Allstate’s Drivewise might get better premium rates if their driving habits are good.
• Passive Restraints and Air Bags – Vehicles with factory air bags or motorized seat belts could see savings up to 30%.
• Low Mileage Discounts – Keeping the miles down on your Chevy may enable drivers to earn better premium rates on cars that stay parked.
• Driver’s Ed – Teen drivers should successfully take a driver’s education course in high school.

Policy discounts save money, but most of the big mark downs will not be given to the entire policy premium. A few only apply to specific coverage prices like collision or personal injury protection. So even though you would think you would end up receiving a 100% discount, you aren’t that lucky. Any qualifying discounts will positively reduce your policy premium.

The example below shows the comparison of Chevy Equinox auto insurance costs with and without discounts applied to the premium. The premium estimates are based on a male driver, no violations or accidents, Kentucky state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, homeowner, marriage, multi-car, claim-free, and safe-driver discounts applied.

To locate providers who offer free Chevy Equinox insurance quotes in Kentucky, follow this link.

Get rate quotes but buy from a local Louisville insurance agency

Many drivers just prefer to get professional advice from a licensed agent and that can be a smart move One of the benefits of price shopping on the web is the fact that drivers can get lower premium rates but also keep your business local. And supporting local insurance agencies is important especially in Louisville.

By using this form (opens in new window), the coverage information is submitted to insurance agents in Louisville who will return price quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to search for any insurance agencies because prices are sent to you instantly. You can find better rates without a big time investment. In the event you want to get a comparison quote from one company in particular, you just need to find their quoting web page and fill out the quote form the provide.

The different types of car insurance agents

If you would like to find a good insurance agency, you need to know there are two different agency structures and how they differ in how they can insure your vehicles. Agents in Louisville can be described as either exclusive or independent agents depending on their company appointments.

Independent Auto Insurance Agents (or Brokers)

These type of agents are not required to write business for one company and that is an advantage because they can write policies with multiple insurance companies and find the cheapest rate. If they find a cheaper price, your agent can switch companies which makes it simple for you.

When shopping rates, it’s recommended you get insurance quotes from at a minimum one independent agency so that you can do a thorough price comparison.

Below are independent agencies in Louisville that can possibly get you free auto insurance rate quotes.

More insurance agents

Exclusive Insurance Agents

Agents in the exclusive channel write business for a single company like Allstate, Farmers Insurance or State Farm. Exclusive agents cannot provide other company’s prices so they are skilled at selling on more than just price. Exclusive agents are trained well on their company’s products and that enables them to sell even at higher rates.

The following is a list of exclusive insurance agents in Louisville that can give you price quote information.

More insurance agents

Picking a auto insurance agent requires more thought than just the bottom line cost. A good agent in Louisville will have answers to these questions.

• Is working in the agency their full-time job?
• What is their Better Business Bureau rating?
• Do you have coverage for a rental car if your vehicle is in the repair shop?
• Do they get extra compensation for selling add-on coverages?
• Does the agency have a current Errors and Omissions policy?
• If they are an independent agency in Louisville, which companies do they recommend?

Tailor your car insurance coverage to you

When it comes to choosing your policy for your vehicles, there really isn’t a one size fits all plan. Your needs are unique to you.

For instance, these questions might help in determining whether or not you would benefit from professional advice.

• What should my uninsured motorist coverage limits be in Kentucky?
• Am I covered if I drive in a foreign country?
• Will my insurance pay for OEM parts?
• Do I have coverage if I rent a car in Mexico?
• Should I put collision coverage on all my vehicles?
• Does insurance cover tools stolen from my truck?

If you don’t know the answers to these questions but one or more may apply to you, you may need to chat with an agent. If you want to speak to an agent in your area, fill out this quick form.

Persistence is the key to cheap rates

When you buy Louisville car insurance online, do not buy less coverage just to save a little money. In many instances, an accident victim reduced liability limits or collision coverage only to discover later they didn’t purchase enough coverage. The goal is to buy enough coverage at the best possible price while still protecting your assets.

We just showed you a lot of tips how to get a better price on Chevy Equinox insurance in Louisville. The most important thing to understand is the more price quotes you have, the higher your chance of finding low cost Louisville car insurance quotes. Consumers may even find the best rates are with the smaller companies.

Consumers change insurance companies for many reasons like high rates after DUI convictions, unfair underwriting practices, being labeled a high risk driver or high prices. Regardless of your reason, choosing a new insurance company can be less work than you think.

For more information, link through to the following helpful articles:

• Senior Drivers (Insurance Information Institute)
• Who Has Cheap Auto Insurance for Teenage Males in Louisville? (FAQ)
• Who Has the Cheapest Car Insurance Quotes for a Nissan Sentra in Louisville? (FAQ)
• Who Has the Cheapest Car Insurance for a Toyota Camry in Louisville? (FAQ)
• What Car Insurance is Cheapest for a 20 Year Old Female in Louisville? (FAQ)
• How Much are Louisville Car Insurance Rates for State Employees? (FAQ)
• Who Has the Cheapest Louisville Car Insurance Quotes for Drivers with a DUI? (FAQ)
• Older Driver Statistics (Insurance Information Institute)
• Things to Know Before you Cancel Insurance (Allstate)
• Insuring a Leased Car (Insurance Information Institute)