How Much Does 2014 Chevrolet Equinox Car Insurance Cost?

Paying for high-priced Chevrolet Equinox insurance can consume your accounts and force you to prioritize other expenses. Comparing rates annually can save money and help to make sure you’re not throwing money away.

Many auto insurance companies vie to insure your vehicles, so it’s not easy to compare every company and uncover the absolute best rates possible.

Smart consumers take time to price shop coverage once or twice a year since prices go up and down regularly. Even if you got the best deal on Equinox coverage six months ago you can probably find a better rate now. Forget anything you know (or think you know) about insurance because you’re going to learn the fastest and easiest way to find lower rates on insurance.

If you are insured now or need a new policy, you can learn to reduce the price you pay while maintaining coverages. Finding affordable coverage is quite easy. Drivers just need to understand the tricks to get comparison quotes over the internet.

Get lower-cost car insurance rates with discounts

Some insurance providers don’t necessarily list all available discounts very clearly, so the list below details a few of the more well known in addition to some of the lesser obvious credits available to bring down your rates.

  • Discount for Good Grades – Being a good student can be rewarded with saving of up to 25%. Many companies even apply the discount to college students well after school through age 25.
  • Auto/Life Discount – If the company offers life insurance, you could get a discount if you purchase life insurance.
  • Mature Driver Discount – Seniors are able to get a small discount on rates on Equinox coverage.
  • Driver’s Ed – Have your child participate in a local driver’s education class as it can save substantially.
  • More Vehicles More Savings – Buying a policy with all your vehicles with one company can reduce rates for all insured vehicles.

Policy discounts save money, but some credits don’t apply to the entire cost. The majority will only reduce the cost of specific coverages such as physical damage coverage or medical payments. Even though it may seem like having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business.

Popular car insurance companies and their offered discounts are shown below.

  • Mercury Insurance has savings for anti-theft, accident-free, good student, good driver, and multi-policy.
  • Farmers Insurance has discounts for switch companies, early shopping, alternative fuel, youthful driver, teen driver, and electronic funds transfer.
  • Farm Bureau discounts include renewal discount, driver training, 55 and retired, multi-policy, and good student.
  • State Farm may include discounts for accident-free, Steer Clear safe driver discount, defensive driving training, good student, passive restraint, safe vehicle, and multiple autos.
  • Allstate may have discounts that include good payer, auto/life discount, anti-theft, EZ pay plan discount, farm vehicle, and eSmart discount.
  • GEICO offers discounts for five-year accident-free, multi-policy, emergency military deployment, driver training, and good student.

It’s a good idea to ask every prospective company which discounts you may be entitled to. Savings may not be available in your area. To choose car insurance companies that have a full spectrum of discounts, click here to view.

What impacts Chevy Equinox insurance prices?

It’s important that you understand a few of the rating criteria that aid in calculating insurance coverage rates. If you know what impacts premium levels, this allows you to make good choices that could help you find cheaper rates.

  • Annual mileage impacts prices – Driving a lot of miles every year the more you’ll pay to insure it. Most companies charge to insure your cars based on their usage. Vehicles not used for work or commuting can be on a lower rate level than cars that get driven a lot. Make sure your insurance coverage policy is showing the right rating data, because it can save money. Having the wrong rating on your Equinox may be costing you higher rates.
  • More traffic equals higher costs – Living in less populated areas may provide you with better prices when insuring your vehicles. Residents of big cities regularly have more traffic problems and more time behind the wheel. Lower population means fewer accidents.
  • Buy as much liability coverage as you can afford – The liability section of your policy will provide protection if ever you are ruled to be at fault for damages caused by your negligence. Liability insurance provides legal defense coverage which can be incredibly expensive. This coverage is relatively inexpensive when compared with rates for comp and collision, so drivers should carry high limits.
  • Policy lapses lead to higher rates – Driving without insurance coverage in place is against the law and companies may charge more for letting your insurance lapse for non-payment. And not only will insurance be more expensive, not being able to provide proof of insurance will get you fines or a revoked license. You will then be forced to provide proof of insurance in the form of an SR-22 filing with your state department of motor vehicles.

Tailor your car insurance coverage to you

When choosing adequate coverage for your vehicles, there is no perfect coverage plan. Everyone’s situation is a little different so this has to be addressed. These are some specific questions may help highlight if you might need professional guidance.

  • Do I need replacement cost coverage?
  • Are my friends covered when driving my car?
  • Should I bundle my homeowners policy with my auto?
  • Is my 2014 Chevy Equinox covered for flood damage?
  • Why do I only qualify for high-risk insurance?
  • Is a blown tire covered by insurance?
  • Will my insurance pay for OEM parts?
  • If I drive on a suspended license am I covered?
  • Should I have combined single limit or split liability limits?

If it’s difficult to answer those questions but you know they apply to you, you might consider talking to an insurance agent. If you don’t have a local agent, complete this form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and may give you better protection.

Auto insurance myths debunked

Consumers can’t get away from ads that claim the cheapest premium rates by companies like State Farm, Allstate and GEICO. They all have a common claim about savings if you move your policy.

That’s great but how can every company claim to save you money? It’s all in the wording.

Most companies quote their best rates for the type of insured they prefer to insure. For example, a profitable risk profile should be a married female, insures multiple vehicles, and drives a lower-performance vehicle. Any driver who fits those characteristics may get the lowest premium rates and will also save if they switch.

Drivers who don’t measure up to the ideal profile must pay higher rates which results in the customer not purchasing. If you pay attention, the ads say “people that switch” but not “all drivers who get quotes” can save as much as they claim. That is how insurance companies can confidently make those claims.

This really illustrates why you need to get as many free insurance quotes as possible. You cannot predict which company will have the lowest rate quotes.

Specifics of your auto insurance policy

Knowing the specifics of auto insurance can be of help when determining the right coverages at the best deductibles and correct limits. Auto insurance terms can be difficult to understand and even agents have difficulty translating policy wording. Shown next are typical coverages available from auto insurance companies.

Collision insurance

This coverage covers damage to your Equinox resulting from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.

Collision can pay for things like backing into a parked car, rolling your car and crashing into a building. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to choose a higher deductible to get cheaper collision coverage.

Comprehensive auto coverage

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

Comprehensive coverage pays for claims such as fire damage, damage from getting keyed, rock chips in glass and a tree branch falling on your vehicle. The maximum amount a auto insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Medical payments and PIP coverage

Medical payments and Personal Injury Protection insurance reimburse you for bills like pain medications, hospital visits, funeral costs, dental work and surgery. They are often used in conjunction with a health insurance plan or if there is no health insurance coverage. It covers both the driver and occupants and also covers if you are hit as a while walking down the street. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

UM/UIM (Uninsured/Underinsured Motorist) coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries and damage to your Chevy Equinox.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage should not be overlooked. Most of the time these limits are set the same as your liablity limits.

Liability coverage

This can cover damages or injuries you inflict on other people or property. It protects YOU from claims by other people, and does not provide coverage for your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 25/50/25 which means $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000. Another option is a combined limit which provides one coverage limit rather than limiting it on a per person basis.

Liability insurance covers claims like loss of income, court costs and medical services. The amount of liability coverage you purchase is a decision to put some thought into, but buy higher limits if possible.

Be a smart shopper

In this article, we covered a lot of tips how to reduce 2014 Chevy Equinox insurance prices online. The key concept to understand is the more rate comparisons you have, the better chance you’ll have of finding cheaper insurance. You may even discover the lowest priced car insurance comes from a smaller regional carrier. Smaller companies can often provide lower rates in certain areas than the large multi-state companies such as GEICO and State Farm.

While you’re price shopping online, don’t be tempted to reduce coverage to reduce premium. In too many instances, someone dropped liability coverage limits and discovered at claim time they didn’t purchase enough coverage. The ultimate goal is to find the BEST coverage at the best cost but still have enough coverage for asset protection.

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