Save Money on Chevy Impala Insurance in Louisville

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Insurance rates Chevy Impala in LouisvilleThe best way to get cheaper auto insurance rates is to regularly compare prices from different companies in Louisville. You can compare prices by following these steps.

  • Step 1: Try to comprehend how companies set rates and the changes you can make to prevent high rates. Many policy risk factors that cause rate increases such as speeding tickets, careless driving and an imperfect credit score can be remedied by making minor driving habit or lifestyle changes.
  • Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give prices from one company like Progressive or Farmers Insurance, while independent agents can give you price quotes for a wide range of insurance providers.
  • Step 3: Compare the quotes to the premium of your current policy to see if a cheaper rate is available. If you can save money, make sure there is no coverage gap between policies.
  • Step 4: Give notification to your current company of your decision to cancel your existing policy and submit the application along with any required down payment to your new agent or company. Once received, keep the new certificate verifying coverage in an easily accessible location in your vehicle.

A good tip to remember is to try to use identical coverage information on every quote request and and to get prices from as many different insurance providers as possible. This helps ensure a level playing field and maximum price selection.

It goes without saying that car insurance companies want to keep you from comparing rates. Drivers who shop for lower rates will most likely buy a new policy because of the good chance of getting low-cost coverage. A recent study showed that consumers who routinely shopped around saved over $865 a year compared to drivers who don't make a habit of comparing rates.

If saving the most money on car insurance in Louisville is your objective, then having a good understanding how to get rate quotes and compare coverage rates can make it easier to find better rates.

If you have a current auto insurance policy, you will surely be able to find better prices using these techniques. Buying the cheapest auto insurance in Louisville can be much easier if you know how to start. But Kentucky vehicle owners must learn the way insurance companies calculate your policy premium and apply this information to your search.

Just keep in mind that comparing a large number of companies helps locate the best offered rates. Not every company allows you to get Louisville Impala insurance quotes online, so you also need to get price estimates from those companies as well.

The companies shown below provide free rate quotes in Kentucky. If you want to find cheaper auto insurance in KY, it's a good idea that you visit two to three different companies in order to find the most competitive rates.

Lower rates by qualifying for discounts

Some insurance providers don't always publicize all possible discounts in a way that's easy to find, so the list below gives a summary of both the well known as well as the least known discounts that may be available.Cheaper insurance with discounts

  • Military Rewards - Having an actively deployed family member may qualify for rate reductions.
  • Federal Government Employee - Active or retired federal employment can save as much as 8% with a few insurance companies.
  • Low Mileage - Driving less can earn slightly better rates than normal.
  • Discounts for Seat Belt Usage - Using a seat belt and requiring all passengers to buckle up may be able to save a few bucks on medical payment and PIP coverage.
  • Early Payment Discounts - If you can afford to pay the entire bill instead of paying each month you could save 5% or more.
  • Anti-theft Discount - Vehicles equipped with tracking devices and advanced anti-theft systems are less likely to be stolen and earn discounts up to 10% off your Louisville auto insurance quote.
  • Renewal Discounts - A few companies allow discounts for buying a policy before your current coverage expires. It can save you around 10%.
  • Accident Forgiveness Coverage - Not really a discount, but companies like Progressive, Allstate, and Liberty Mutual permit an accident before they charge you more for coverage so long as you are claim-free prior to the accident.
  • Driving Data Discount - People who choose to allow companies to spy on driving habits by installing a telematics device such as Progressive's Snapshot might see lower rates as long as the data is positive.
  • Passive Restraint Discount - Options like air bags or motorized seat belts could see savings of 20 to 30 percent.

Drivers should understand that most discount credits are not given to the entire cost. Most only cut individual premiums such as liability, collision or medical payments. If you do the math and it seems like all the discounts add up to a free policy, that's just not realistic.

The information below compares Chevy Impala auto insurance costs with and without discounts being applied to the rates. The costs are based on a male driver, no accidents or driving violations, Kentucky state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, marriage, multi-car, multi-policy, claim-free, and safe-driver discounts applied.

To see insurance companies who offer discounts in Louisville, click this link.

Chevy Impala insurance coverage information

The information displayed below outlines detailed analysis of coverage costs for Chevy Impala models. Having a better understanding of how prices are determined can help customers make informed decisions.

Chevrolet Impala Insurance Rates in Louisville, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Impala LS $136 $268 $326 $20 $98 $848 $71
Impala LS $136 $268 $326 $20 $98 $848 $71
Impala LT $156 $268 $326 $20 $98 $868 $72
Impala LT $156 $268 $326 $20 $98 $868 $72
Impala LTZ $156 $316 $326 $20 $98 $916 $76
Impala LTZ $156 $316 $326 $20 $98 $916 $76
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Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-policy, and multi-vehicle. Price information does not factor in zip code location which can influence premiums greatly.

Policy deductibles

When comparing auto insurance rates, the most common question is how high should the physical damage deductibles be. The data tables below sum up the price difference when you buy lower versus higher insurance deductibles. The first pricing table uses a $250 comprehensive and collision deductible and the second price chart uses a $1,000 deductible.

Chevrolet Impala insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Impala LS $220 $426 $326 $20 $98 $1,115 $93
Impala LS $220 $426 $326 $20 $98 $1,115 $93
Impala LT $252 $426 $326 $20 $98 $1,147 $96
Impala LT $252 $426 $326 $20 $98 $1,147 $96
Impala LTZ $252 $500 $326 $20 $98 $1,221 $102
Impala LTZ $252 $500 $326 $20 $98 $1,221 $102
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Chevrolet Impala insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Impala LS $136 $268 $326 $20 $98 $848 $71
Impala LS $136 $268 $326 $20 $98 $848 $71
Impala LT $156 $268 $326 $20 $98 $868 $72
Impala LT $156 $268 $326 $20 $98 $868 $72
Impala LTZ $156 $316 $326 $20 $98 $916 $76
Impala LTZ $156 $316 $326 $20 $98 $916 $76
Get Your Own Custom Quote Go

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Price estimates do not factor in the specific area where the vehicle is garaged which can influence premiums substantially.

Based on the data above, we can derive that using a $250 deductible could cost the average driver approximately $24 more each month or $288 for a full year averaged for all Impala models than choosing the higher $1,000 deductible. Because you would be required to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you go more than 31 months between claims, you would save money if you decide on a higher deductible. Here's a better example of how this decision is made.

Average monthly premium for $250 deductibles: $97
Average monthly premium for $1,000 deductibles (subtract): - $73
Monthly savings from raising deductible: $24
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $24
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 31 months

The chart below demonstrates how deductible levels and can raise or lower Chevy Impala premium costs for each age group. The prices are based on a single male driver, full physical damage coverage, and no discounts are factored in.

Drive safe and save

The chart below highlights how speeding tickets and accident claims increase Chevy Impala insurance rates for each age group. The data is based on a single female driver, full physical damage coverage, $500 deductibles, and no discounts are factored in.

Premiums by gender and age

The information below illustrates the comparison of Chevy Impala insurance costs for male and female drivers. The costs are based on no claims or violations, full physical damage coverage, $500 deductibles, drivers are not married, and no discounts are applied to the premium.

Difference between liability only and full coverage rates

The example below shows the comparison of Chevy Impala insurance prices with full physical damage coverage compared to only buying the minimum liability limits required in Kentucky. The data assumes no claims or driving violations, $250 deductibles, marital status is single, and no discounts are factored in.

When to buy liability coverage only

There isn't a steadfast formula that works best for making the decision to drop physical damage coverage on your policy, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than 10% of the vehicle's replacement cost less your deductible, then it could be time to drop full coverage.

For example, let's pretend your Chevy Impala replacement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would get paid by your company is $2,000 after paying your deductible. If you are currently paying more than $200 annually to have full coverage, then you might want to consider buying only liability coverage.

There are some situations where buying only liability insurance is not in your best interest. If you still owe money on your vehicle, you must maintain physical damage coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not buy liability only.

Get Chevy Impala Insurance Cheaper

It's important that you understand a few of the rating criteria that aid in calculating your insurance rates. If you understand what determines base rates, this empowers consumers to make smart changes that can help you get lower insurance prices.

  • You might pay more if you are single - Having a significant other helps lower the price on your insurance bill. Having a spouse translates into being more stable financially it has been statistically shown that drivers who are married file infrequent claims.
  • Good credit means lower rates - Credit history can be an important factor in determining premium rates. Insureds that have high credit ratings tend to file fewer claims than those with poor credit scores. Therefore, if your credit history can be improved, you could save money insuring your Chevrolet Impala by improving your credit score.
  • Insurance claims cost money - If you tend to file frequent claims, you can pretty much guarantee higher premiums or even policy non-renewal. Companies in Kentucky give cheaper rates to policyholders who do not file claims often. Your car insurance is meant to be used in the event of claims that you cannot pay yourself.
  • Age of drivers impacts premiums - Teenage drivers in Kentucky are statistically shown to be inattentive and easily distracted when behind the wheel so they pay higher insurance rates. Older, more experienced drivers tend to be more responsible, tend to cause fewer accidents, and usually have better credit.

    The next chart is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.

  • What type of car do you drive? - The performance level of the vehicle you need to insure makes a huge difference in your auto insurance rates. The cheapest insurance rates are usually found on lower cost passenger cars, but there are many factors that impact the final cost.

    The next chart is based on a single female driver age 40, full coverage with $100 deductibles, and no discounts or violations. It illustrates Chevrolet Impala rates compared to other models that have different risk factors.

  • Chevy Impala claim statistics - Insurers analyze claim trends for every vehicle to help calculate a profitable premium rate. Models that tend to have higher claim amounts or frequency will have higher rates. The table below demonstrates the historical loss data for Chevy Impala vehicles.

    For each policy coverage, the claim amount for all vehicles, as an average, is equal to 100. Percentage values below 100 suggest losses that are better than average, while percentages above 100 indicate frequent claims or an increased chance of larger losses than average.

    Chevrolet Impala Insurance Claim Statistics
    Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Chevrolet Impala 104 89 135 122 122 104
    Chevrolet Impala Limited 100 115 79 142 148 153

    Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years