Are you tired of overpaying and want more competitive Chevy Malibu insurance in Norfolk? Do you get exhausted from wondering where the money will come from to pay high insurance rates every month? You are no different than many other Virginia drivers.
Astonishing but true according to a recent study, over 70% of drivers kept their coverage with the same insurance company for at least four years, and just under half have never compared insurance rates at all. Drivers in Norfolk could save themselves roughly $550 a year by just shopping around, but they don't invest the time required to find cheap rates by getting comparison quotes.
Many auto insurance companies vie to insure your vehicles, and because of this it can be hard to compare auto insurance companies and get the definite lowest rate possible on Chevy Malibu insurance in Norfolk.
It's a good idea to get comparison quotes before your next renewal since prices change quite often. Just because you had the lowest rates on Chevy Malibu insurance in Norfolk two years ago you may be paying too much now. Block out anything you think you know about insurance because I'm going to let you in on the secrets to how to use the internet to find better coverage on Chevy Malibu insurance in Norfolk at a better price.
Most companies like State Farm, GEICO and Progressive provide pricing direct online. Doing online price comparisons for Chevy Malibu insurance in Norfolk is quite easy because it's just a matter of typing in your coverage preferences into a form. Behind the scenes, the quote system obtains your credit score and driving record and returns a price based on these and other factors. Being able to quote online for Chevy Malibu insurance in Norfolk makes it a lot easier to compare rates and it's very important to have as many quotes as possible in order to find cheap rates.
To quickly use this form to compare rates, visit the companies below or click here to submit a quote request to multiple companies at once. If you currently have coverage, we recommend you complete the form with the limits and deductibles as shown on your current policy. This way, you will get comparison quotes for the exact same coverage.
The companies shown below are ready to provide free rate quotes in Virginia. If several companies are displayed, it's a good idea that you compare several of them to find the lowest car insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Premium data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Information does not factor in garaging location in Norfolk which can impact coverage prices significantly.
Full coverage or liability only
The chart below visualizes the comparison of Chevrolet Malibu premium costs when comparing full coverage to liability only. The costs are based on no claims or driving citations, $100 deductibles, single male driver, and no discounts are applied.
When to drop comp and collision
There is no clear-cut formula to exclude full coverage on your policy, but there is a guideline you can consider. If the yearly cost of full coverage is about 10% or more of replacement cost minus your deductible, then you might want to consider buying only liability coverage.
For example, let's assume your Chevrolet Malibu claim settlement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company will settle for is $4,000 after paying the physical damage deductible. If you are paying over $400 annually for your policy with full coverage, then you might consider buying liability only.
There are a few situations where dropping physical damage coverage is not a good idea. If you still have a lienholder on your title, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you don't have enough money to buy a different vehicle if your current one is totaled, you should keep full coverage on your policy.
How violations and accidents impact rates
The chart below shows how traffic citations and at-fault fender-benders can influence Chevrolet Malibu car insurance rates for different age categories. The data assumes a married female driver, comprehensive and collision coverage, $1,000 deductibles, and no other discounts are factored in.
Car insurance is an important decision
Despite the high insurance cost for a Chevy Malibu in Norfolk, maintaining insurance serves an important purpose.
- Most states have minimum liability requirements which means you are required to carry a specific level of liability protection if you don't want to risk a ticket. In Virginia these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
- If you have a loan on your vehicle, almost every bank will have a requirement that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you do not keep the policy in force, the bank or lender will purchase a policy for your Chevy at a significantly higher premium and make you pay the higher price.
- Car insurance preserves not only your Chevy but also your financial assets. Insurance will pay for most medical and hospital costs for both you and anyone you injure as the result of an accident. Liability insurance also covers all legal expenses up to the policy limit if anyone sues you for causing an accident. If your Chevy gets damaged, your policy will pay all costs to repair after the deductible has been paid.
The benefits of buying car insurance are definitely more than the cost, specifically if you ever have a liability claim. The average driver in Virginia overpays more than $750 every year so compare rates every year to be sure current rates are still competitive.
These seven discounts can lower your car insurance quotes
Car insurance companies don't always advertise all possible discounts in an easy-to-find place, so the list below details both well-publicized in addition to some of the lesser obvious discounts you could be receiving when you buy Norfolk car insurance online. If you are not receiving all the discounts available, you could be saving more on your car insurance.
- Discounts for Good Drivers - Insureds who avoid accidents can pay as much as 50% less compared to rates paid by drivers with frequent claims.
- Buy New and Save - Buying a new car instead of a used Malibu can save you some money since newer vehicles have better safety ratings.
- Theft Deterrent System - Cars and trucks optioned with advanced anti-theft systems are stolen less frequently and qualify for as much as a 10% discount.
- Distant Student - Any of your kids who attend college more than 100 miles from Norfolk without a vehicle on campus could get you a discount.
- Seat Belts Save more than Lives - Forcing all vehicle occupants to use their safety belts could cut 10% or more off the medical payments premium.
- Professional Organizations - Joining certain professional organizations could trigger savings when shopping for car insurance.
- Defensive Driver Discounts - Taking a course teaching defensive driver skills is a good idea and can lower rates if you qualify.
A quick disclaimer, some of the credits will not apply to all coverage premiums. Most cut specific coverage prices like medical payments or collision. Even though the math looks like it's possible to get free car insurance, insurance companies wouldn't stay in business.
Some of the insurance companies that have most of the discounts above include:
Before you buy a policy, ask all the companies which discounts you may be entitled to. Savings may not apply in Norfolk.
Local neighborhood Norfolk car insurance agents
Certain consumers prefer to buy from a licensed agent and that is recommended in a lot of cases The best thing about comparing rate quotes online is that drivers can save money and get the best rates and still buy from a local agent.
After completing this simple form, the coverage information is transmitted to agents in your area who will give you quotes to get your business. You won't need to search for an agent since rate quotes are delivered to you directly. You can find the lowest rates without requiring a lot of work. In the event you want to get a rate quote for a specific company, just visit that company's website to submit a rate quote request.
Selecting an insurer should include more criteria than just the premium amount. The questions below may impact your decision as well.
- Does the agent have a valid license to sell insurance in Virginia?
- How is replacement cost determined on your vehicle?
- Do they make recommendations based only on price?
- Are they involved in claim handling?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- What is the financial rating for the quoted company?
Once you have satisfactory answers for all questions you ask in addition to an acceptable price estimate, you have narrowed it down to an provider that is a good match to service your policy. But keep in mind it's your policy and you can cancel coverage when you choose so never assume you are locked into any specific company indefinitely.
Car insurance coverage information
Knowing the specifics of your policy can help you determine which coverages you need at the best deductibles and correct limits. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording. Shown next are the normal coverages found on most car insurance policies.
Uninsured Motorist or Underinsured Motorist insurance - Your UM/UIM coverage protects you and your vehicle's occupants when the "other guys" either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle's occupants as well as damage to your Chevy Malibu.
Due to the fact that many Virginia drivers only purchase the least amount of liability that is required (25/50/20 in Virginia), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important.
Insurance for medical payments - Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses like EMT expenses, pain medications, chiropractic care and ambulance fees. They are often utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover you and your occupants in addition to any family member struck as a pedestrian. PIP coverage is not an option in every state and gives slightly broader coverage than med pay
Collision - This pays for damage to your Malibu resulting from colliding with another vehicle or an object, but not an animal. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for things like damaging your car on a curb, crashing into a building, hitting a parking meter, colliding with a tree and crashing into a ditch. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. Another option is to bump up the deductible on your Malibu to bring the cost down.
Comprehensive coverage (or Other than Collision) - Comprehensive insurance coverage will pay to fix damage from a wide range of events other than collision. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers things such as hail damage, vandalism, rock chips in glass, damage from a tornado or hurricane and theft. The most your car insurance company will pay is the cash value of the vehicle, so if it's not worth much more than your deductible consider removing comprehensive coverage.
Auto liability insurance - Liability insurance protects you from injuries or damage you cause to people or other property. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have limits of 25/50/20 that means you have a $25,000 limit per person for injuries, $50,000 for the entire accident, and property damage coverage for $20,000.
Liability coverage protects against claims like structural damage, pain and suffering, loss of income and funeral expenses. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as much as you can afford. Virginia state minimum liability requirements are 25/50/20 but it's recommended drivers buy better liability coverage.
Lower rates by being persistent
When you buy Norfolk car insurance online, it's a bad idea to skimp on critical coverages to save a buck or two. In too many instances, someone dropped uninsured motorist or liability limits only to find out that their decision to reduce coverage ended up costing them more. The ultimate goal is to find the BEST coverage at the best possible price while still protecting your assets.
In this article, we presented a lot of techniques to lower your Chevy Malibu insurance car insurance rates in Norfolk. It's most important to understand that the more rate comparisons you have, the higher your chance of finding low cost Norfolk car insurance quotes. You may even discover the biggest savings come from some of the lesser-known companies. They often have lower premium rates on specific markets than the large multi-state companies such as Progressive and GEICO.
More detailed insurance information is located in these articles:
- Dangers of fake or stolen airbags (Insurance Institute for Highway Safety)
- Who Has Cheap Virginia Car Insurance Quotes for a 20 Year Old Female? (FAQ)
- Who Has Affordable Virginia Car Insurance for a Subaru Outback? (FAQ)
- What Car Insurance is Cheapest for a Hyundai Elantra in Virginia? (FAQ)
- How to Avoid Buying a Flooded Car (Insurance Information Institute)
- Drunk Driving Statistics (Insurance Information Institute)
- Car Insurance FAQ (Trusted Choice)
- Alcohol Impaired Driving FAQ (iihs.org)