2005 Chevrolet Equinox Car Insurance Cost – 10 Ideas for Cheaper Prices

No one likes buying insurance coverage, especially when the cost is too high.

Many auto insurance companies compete for your insurance dollar, and it can be difficult to compare rates to find the absolute lowest rate

It’s a great practice to compare premium rates periodically since insurance rates tend to go up over time. Even if you got the lowest premium rates for Equinox coverage on your last policy you can probably find a better price now. Forget all the misinformation about insurance coverage because you’re going to learn the quickest way to save money, get proper coverage and the best rates.

If you currently have car insurance, you will most likely be able to reduce your rates substantially using these tips. Choosing the best insurance company for you is quite easy. But vehicle owners benefit from understanding the way companies sell insurance online and apply this information to your search.

Ten discounts for cheap insurance rates

Car insurance companies don’t always publicize the entire discount list in an easy-to-find place, so the following list contains both well-publicized and also the more inconspicuous discounts that you may qualify for. If you are not receiving all the discounts you deserve, you are just wasting money.

  • Claim Free – Drivers with accident-free driving histories can save substantially when compared with insureds who have frequent claims or accidents.
  • Sign Early and Save – A few insurance companies offer discounts for buying a policy prior to the expiration date on your current policy. You can save around 10% with this discount.
  • Federal Government Employee – Being employed by or retired from a federal job can save as much as 8% for Equinox coverage but check with your company.
  • Seat Belts Save – Drivers who always wear seat belts and also require passengers to wear their seat belts can save a little off PIP or medical payments premium.
  • Own a Home – Just owning your own home can help you save on insurance due to the fact that maintaining a home is proof of financial responsibility.
  • Defensive Driver Discounts – Completing a course in driver safety could earn you a small percentage discount if you qualify.
  • Low Miles Discount – Low mileage vehicles may allow you to get discounted premium rates on garaged vehicles.
  • Waiver for an Accident – Not necessarily a discount, but a handful of insurance companies will forgive one accident before raising your premiums with the catch being you have to be claim-free for a set time period.
  • Online Discount – Some insurance companies may give you up to $50 for buying your policy on your computer.
  • Telematics Data – Insureds who allow driving data submission to scrutinize driving manner by installing a telematics device like Allstate’s Drivewise may get a rate reduction as long as they are good drivers.

While discounts sound great, it’s important to understand that most of the big mark downs will not be given to the overall cost of the policy. Most only reduce specific coverage prices like liability and collision coverage. Even though it appears you would end up receiving a 100% discount, insurance companies aren’t that generous.

Large insurance companies and some of the discounts are outlined below.

  • American Family offers premium reductions for Steer into Savings, good driver, multi-vehicle, air bags, and mySafetyValet.
  • Nationwide has savings for multi-policy, anti-theft, defensive driving, accident-free, family plan, and good student.
  • MetLife offers discounts including good student, defensive driver, claim-free, accident-free, and multi-policy.
  • 21st Century has discounts for 55 and older, air bags, driver training, teen driver, defensive driver, and theft prevention.
  • Farmers Insurance may offer discounts for electronic funds transfer, early shopping, multi-car, business and professional, and mature driver.
  • Allstate includes discounts for 55 and retired, early signing, anti-theft, resident student, and economy car.

Double check with all companies you are considering how you can save money. Depending on the company, some discounts may not apply in your area. To find companies with discount rates, click this link.

Compare insurance coverage quotes

There are several ways you can shop for insurance coverage but one way is more efficient than others. You could spend your day discussing policy coverages with insurance agencies in your area, or you could use online quoting to accomplish the same thing much quicker.

Most of the best insurance companies belong to an insurance system where insurance shoppers enter their policy data once, and each company then gives them pricing for coverage. This saves time by eliminating quote forms to every company. To find out how much you’re overpaying now click here to start a free quote.

The only downside to using this type of form is you don’t know exactly which providers you want to price. So if you prefer to pick from a list of companies to compare prices, we have a listing of low cost insurance coverage companies in your area. Click here to view list.

It’s up to you which method you use, but do your best to enter exactly the same coverage data for each price quote. If your comparisons have different limits and deductibles on each one you will not be able to decipher which rate is best. Just slight variations in coverage limits may result in a large different in cost. And when comparison shopping, quoting more helps improve the odds of finding the best offered rates. Some smaller insurers to not give rate quotes online, so you also need to get prices from them, too.

Tailor your car insurance coverage to you

When it comes to buying adequate coverage for your personal vehicles, there really is not a cookie cutter policy. Each situation is unique and a cookie cutter policy won’t apply. For example, these questions might help in determining whether your personal situation would benefit from an agent’s advice.

  • How high should my medical payments coverage be?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • Am I covered if I hit a deer?
  • Do all my vehicles need collision coverage?
  • Is a blown tire covered by insurance?
  • What can I do if my company won’t pay a claim?
  • Does liability extend to a camper or trailer?
  • Am I covered if I hit my neighbor’s mailbox?
  • Do I need motorclub coverage?

If it’s difficult to answer those questions, you may need to chat with an insurance agent. To find lower rates from a local agent, take a second and complete this form or go to this page to view a list of companies.

Insurance coverages and their meanings

Knowing the specifics of your policy can help you determine appropriate coverage and the correct deductibles and limits. The terms used in a policy can be confusing and reading a policy is terribly boring. Shown next are typical coverage types available from insurance companies.

Comprehensive insurance

This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like damage from flooding, fire damage, rock chips in glass and hitting a deer. The maximum payout a insurance company will pay at claim time is the actual cash value, so if the vehicle is not worth much consider dropping full coverage.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage reimburse you for short-term medical expenses such as nursing services, pain medications, ambulance fees, X-ray expenses and chiropractic care. They can be utilized in addition to your health insurance policy or if you are not covered by health insurance. Coverage applies to all vehicle occupants and will also cover being hit by a car walking across the street. PIP coverage is not universally available and may carry a deductible

Liability

Liability insurance will cover damage that occurs to other’s property or people in an accident. This coverage protects you against claims from other people. It does not cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 25/50/25 that translate to a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property. Occasionally you may see a combined single limit or CSL which limits claims to one amount with no separate limits for injury or property damage.

Liability coverage protects against things such as bail bonds, structural damage, court costs, funeral expenses and emergency aid. How much coverage you buy is up to you, but it’s cheap coverage so purchase as high a limit as you can afford.

Collision insurance

This coverage pays for damage to your Equinox resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible and then insurance will cover the remainder.

Collision can pay for things such as sideswiping another vehicle, driving through your garage door and colliding with a tree. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to bump up the deductible to get cheaper collision coverage.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants as well as damage to your Chevy Equinox.

Because many people have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea. Most of the time these limits are similar to your liability insurance amounts.

Knowledge is power

Affordable 2005 Chevy Equinox insurance is attainable both online as well as from insurance agents, so you need to quote car insurance with both in order to have the best price selection to choose from. Some insurance companies may not offer the ability to get a quote online and many times these small insurance companies only sell through local independent agents.

As you shop your coverage around, it’s not a good idea to buy lower coverage limits just to save a few bucks. In many instances, drivers have reduced comprehensive coverage or liability limits only to regret at claim time that they should have had better coverage. The proper strategy is to buy enough coverage for the lowest cost and still be able to protect your assets.

We’ve covered many tips how you can compare 2005 Chevy Equinox insurance auto insurance rates online. The key thing to remember is the more quotes you get, the better chance you’ll have of finding the cheapest car insurance. You may even find the lowest priced car insurance comes from a smaller regional carrier. These companies often have lower premium rates on specific markets as compared to the big name companies such as State Farm and Allstate.

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