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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.