2003 Chevrolet Malibu Insurance Cost – 9 Savings Tips

Trying to find lower insurance coverage rates for your Chevrolet Malibu? Do you think you bought an overpriced insurance coverage policy? Don’t sweat it because you are not the only one feeling buyer’s remorse. Numerous auto insurance companies battle for your insurance dollar, and because of this it can be hard to compare car insurance companies to find the absolute best rate

Get lower-cost auto insurance with discounts

Auto insurance is neither fun to buy or cheap, but companies offer discounts that could drop your premiums quite a bit. Some of these disounts will be visible at the time of purchase, but once in a while a discount must be inquired about in order for you to get them.

  • Government Employee Discount – Simply working for the federal government can save as much as 8% for Malibu insurance with select insurance companies.
  • Paper-free Discount – A few larger companies provide a small discount for buying your policy on the web.
  • Cautious Driver Discounts – Drivers who don’t get into accidents could pay up to 40% less for Malibu insurance compared to accident prone drivers.
  • Auto/Home Discount – When you have multiple policies with the same company you could earn a discount of up to 20% off your total premium.
  • Waiver for an Accident – Not necessarily a discount, but certain companies will let one accident slide without the usual rate increase with the catch being you have to be claim-free before the accident.
  • No Claim Discounts – Drivers who stay claim-free get the best auto insurance rates as opposed to frequent claim filers.
  • Data Collection Discounts – Insureds who allow companies to spy on their driving habits through the use of a telematics system like Drivewise from Allstate or In-Drive from State Farm may see discounts as long as the data is positive.
  • Defensive Driver Discount – Passing a course teaching defensive driver skills can save you 5% or more and easily recoup the cost of the course.
  • College Student – Children who are enrolled in higher education away from home and leave their car at home may be insured at a cheaper rate.

As is typical with insurance, many deductions do not apply to the overall cost of the policy. A few only apply to the price of certain insurance coverages like medical payments or collision. So despite the fact that it appears adding up those discounts means a free policy, it just doesn’t work that way. Any amount of discount will help reduce your policy premiums.

Large auto insurance companies and the discounts they provide are shown below.

  • GEICO may include discounts for membership and employees, driver training, seat belt use, daytime running lights, multi-policy, anti-theft, and good student.
  • USAA policyholders can earn discounts including new vehicle, multi-vehicle, safe driver, defensive driver, good student, and vehicle storage.
  • Progressive may have discounts that include online quote discount, online signing, multi-vehicle, multi-policy, good student, and continuous coverage.
  • American Family offers premium reductions for Steer into Savings, accident-free, early bird, defensive driver, mySafetyValet, good student, and multi-vehicle.
  • Esurance has discounts for anti-lock brakes, defensive driver, paid-in-full, safety device, and online shopper.
  • Farmers Insurance offers discounts including teen driver, early shopping, youthful driver, alternative fuel, and good student.
  • State Farm may offer discounts for anti-theft, student away at school, safe vehicle, Drive Safe & Save, defensive driving training, Steer Clear safe driver discount, and good student.

If you need lower rates, check with each company how you can save money. Depending on the company, some discounts might not be available to policyholders in your area. If you would like to choose from a list of providers that have a full spectrum of discounts, follow this link.

Tailor your car insurance coverage to you

When buying coverage, there is no best way to insure your cars. Everyone’s situation is a little different so this has to be addressed. For instance, these questions can help discover if you might need professional guidance.

  • Should I sign the liability waiver when renting a car?
  • Should I waive the damage coverage when renting a car?
  • Can I still get insurance after a DUI?
  • Is my state a no-fault state?
  • Am I covered if I hit my neighbor’s mailbox?
  • Is my 2003 Chevy Malibu covered for flood damage?
  • Who is covered when they drive my 2003 Chevy Malibu?

If you can’t answer these questions but a few of them apply, then you may want to think about talking to an agent. To find lower rates from a local agent, fill out this quick form or click here for a list of car insurance companies in your area. It’s fast, free and can help protect your family.

Big brands don’t always mean big savings

Consumers can’t get away from ads for insurance savings by 21st Century, Allstate and State Farm. All the companies convey the message about saving some big amount if you move your insurance policy to them.

How do they all offer drivers better rates? It’s all in the numbers.

Insurance providers offer their best rates for the type of driver that will add to their bottom line. An example of a profitable risk profile could be between 30 and 50, has no claims, and drives a car with an anti-theft system. A propective insured who matches those parameters receives the best premium rates and therefore will save a lot of money.

Potential customers who fall outside these stringent criteria may receive more expensive rates which leads to business going elsewhere. If you listen to the ad wording, they say “people who switch” not “everyone that quotes” save that kind of money. That’s the way insurance companies can make claims like that. This illustrates why you should get price quotes at each policy renewal. It is just not possible to predict which insurance company will have the lowest car insurance rates for your situation.

Information about specific coverages

Knowing the specifics of a insurance policy helps when choosing appropriate coverage and proper limits and deductibles. Policy terminology can be difficult to understand and coverage can change by endorsement. Listed below are typical coverages found on most insurance policies.

Comprehensive protection

This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against things such as damage from a tornado or hurricane, hail damage, damage from getting keyed, a tree branch falling on your vehicle and falling objects. The most a insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Auto liability insurance

This coverage can cover damage that occurs to a person or their property in an accident. Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property.

Liability coverage pays for claims like repair bills for other people’s vehicles, repair costs for stationary objects and attorney fees. The amount of liability coverage you purchase is your choice, but you should buy as large an amount as possible.

Collision protection

This covers damage to your Malibu resulting from a collision with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against things like hitting a parking meter, rolling your car, colliding with a tree and scraping a guard rail. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are 8 years or older. It’s also possible to bump up the deductible to save money on collision insurance.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage kick in for expenses for things like surgery, X-ray expenses, prosthetic devices and dental work. They are used to cover expenses not covered by your health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants as well as being hit by a car walking across the street. PIP is only offered in select states but can be used in place of medical payments coverage

Uninsured or underinsured coverage

This coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants as well as damage to your Chevy Malibu.

Due to the fact that many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea.

Find Good Coverage for Less

As you prepare to switch companies, it’s a bad idea to reduce coverage to reduce premium. There are a lot of situations where an insured cut liability coverage limits only to discover later they didn’t purchase enough coverage. Your goal is to buy a smart amount of coverage at the best cost while not skimping on critical coverages.

You just learned quite a bit of information on how to save on 2003 Chevy Malibu insurance. The key thing to remember is the more quotes you get, the higher the chance of saving money. Drivers may discover the biggest savings come from a small mutual company. They may only write in your state and offer lower premium rates than their larger competitors like Allstate, GEICO and Progressive.

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