Cheap Chevy Malibu Insurance in El Paso

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Chevy Malibu insurance
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Trying to find the cheapest insurance for your Chevy Malibu in Texas can normally be a painful process, but you can follow a few tricks to make it easier. There is a right way and a wrong way to find auto insurance online and you need to know the absolute fastest way to price shop coverage for a new or used Chevy and find the best price possible.

Insurance for Chevy MalibuSadly, most consumers have remained with the same auto insurance company for at least the last four years, and nearly 40% of drivers have never even compared quotes to find cheap rates. Many consumers in Texas could save about 70% each year, but most undervalue the benefits if they bought a different policy.

It is always a good idea to price shop coverage as often as possible due to the fact that insurance rates change regularly. Despite the fact that you may have had the best premium rates on Chevy Malibu insurance in El Paso a few years ago the chances are good that you can find a lower price today. You can search a lot of Malibu insurance on the internet, but in this article, you're going to get some excellent ideas to stop overpaying for insurance in El Paso.

Most companies make it easy to get insurance quotes directly from their websites. Comparing Chevy Malibu insurance rates online doesn't take a lot of time as all you need to do is type in your coverage preferences into the quote form. When the form is submitted, their quoting system will order your driving record and credit report and gives you a price quote determined by many factors.

Using the web to get quotes for Chevy Malibu insurance in El Paso makes it simple to compare prices and it's very important to perform this step if you want to get affordable rates.

To compare pricing, compare rates now from the companies shown below. If you have coverage now, it's recommended you copy coverages and limits exactly as they are listed on your policy. This ensures you will be getting a rate comparison using the exact same coverages.

The following companies have been selected to offer price quotes in El Paso, TX. If more than one company is shown, we suggest you visit several of them in order to find the cheapest rates.

Rates and information analytics

The coverage table shown below covers detailed analysis of insurance rates for Chevy Malibu models. Understanding more about how insurance prices are determined can assist in making smart choices when selecting a policy.

Chevrolet Malibu Insurance Rates in El Paso, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Malibu LS $186 $340 $366 $22 $110 $1,024 $85
Malibu Hybrid $186 $340 $366 $22 $110 $1,024 $85
Malibu LT $210 $340 $366 $22 $110 $1,048 $87
Malibu LTZ $210 $400 $366 $22 $110 $1,108 $92
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Data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Premium costs do not factor in vehicle location which can alter coverage rates noticeably.

The illustration below illustrates how your choice of deductibles and can change Chevy Malibu insurance rates for each age group. The premiums are based on a single female driver, full coverage, and no policy discounts are applied.

Liability only or full coverage

The diagram below visualizes the comparison of Chevy Malibu insurance costs when comparing full coverage to liability only. The rate quotes are based on no violations or claims, $1,000 deductibles, single status, and no discounts are factored in.

Are you wasting money paying for full coverage?

There is no specific rule of when to phase out comp and collision coverage, but there is a guideline you can consider. If the yearly cost for physical damage coverage is about 10% or more of the vehicle's replacement cost less your deductible, then it may be the right time to buy liability only.

For example, let's pretend your Chevy Malibu claim settlement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company would pay you is $2,000 after paying your policy deductible. If premiums are more than $200 annually for comprehensive and collision coverage, then you might want to think about dropping full coverage.

There are some situations where eliminating full coverage is not advised. If you have an outstanding loan on your vehicle, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should maintain full coverage.

Why you need insurance for your Malibu

Despite the potentially high cost of Chevy Malibu insurance, maintaining insurance serves several important purposes.

  • Almost all states have mandatory insurance requirements which means the state requires a minimum amount of liability if you want to drive legally. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
  • If you took out a loan on your Chevy, it's most likely the lender will require you to buy full coverage to guarantee loan repayment. If you do not pay your insurance premiums, the lender may insure your Chevy at a significantly higher premium and require you to pay for the expensive policy.
  • Insurance safeguards both your Chevy and your assets. It will also provide coverage for medical transport and hospital expenses for you, any passengers, and anyone injured in an accident. Liability insurance, one of your policy coverages, also pays expenses related to your legal defense if you are named as a defendant in an auto accident. If your Chevy gets damaged, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.

The benefits of buying car insurance more than cancel out the cost, especially if you ever need it. But the average American driver overpays more than $865 each year so you should quote rates at least once a year to make sure the price is not too high.

Verify you're receiving every discount

Insurance can cost an arm and a leg, but you might be missing out on some discounts to help bring down the price. Some discounts will apply when you quote, but a few must be requested specifically before they will apply.Auto insurance discounts

  • No Claim Discounts - Good drivers with no accidents pay less in comparison to insureds who have frequent claims or accidents.
  • Good Grades Discount - Being a good student may save you up to 25%. Earning this discount can benefit you up to age 25.
  • Online Discount - Many insurance companies will provide an incentive get El Paso car insurance on your computer.
  • ABS and Traction Control Discounts - Vehicles that have anti-lock braking systems are safer to drive and the ABS can save up to 10%.
  • Senior Discount - Mature drivers may receive lower premium rates.
  • Discounts for Federal Employees - Simply working for the federal government may reduce rates when you quote El Paso car insurance depending on your company.
  • Save with a New Car - Putting auto insurance coverage on a new Malibu can save you some money because new vehicles have to meet stringent safety requirements.
  • Discount for Home Ownership - Being a homeowner can earn you a little savings because it requires personal responsibility.

Discounts save money, but please remember that some credits don't apply to the entire cost. Most only reduce the cost of specific coverages such as comprehensive or collision. So even though it sounds like you could get a free auto insurance policy, companies wouldn't make money that way.

The example below compares Chevy Malibu annual premium costs with and without discounts applied to the rates. The data is based on a male driver, no accidents, no driving violations, Texas state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, claim-free, multi-car, marriage, and safe-driver discounts applied.

Companies and a partial list of their discounts include:

  • Progressive discounts include online signing, homeowner, good student, multi-vehicle, and multi-policy.
  • Farmers Insurance offers discounts for electronic funds transfer, teen driver, business and professional, multi-car, youthful driver, and alternative fuel.
  • Farm Bureau has savings for youthful driver, multi-vehicle, multi-policy, 55 and retired, good student, renewal discount, and safe driver.
  • State Farm has discounts for good student, Drive Safe & Save, anti-theft, driver's education, safe vehicle, multiple policy, and accident-free.
  • GEICO may offer discounts for seat belt use, emergency military deployment, air bags, driver training, and military active duty.
  • SAFECO may have discounts that include safe driver, accident prevention training, teen safety rewards, bundle discounts, teen safe driver, and anti-theft.
  • Liberty Mutual offers premium reductions for hybrid vehicle, new vehicle discount, new graduate, good student, and multi-policy.

If you want inexpensive El Paso car insurance quotes, ask every company which credits you are entitled to. Discounts might not apply in El Paso. To see insurance companies with the best Chevy Malibu insurance discounts in Texas, click here.

When to contact an agent

Some consumers just prefer to get advice from a local agent and that is just fine! Most agents can help you build your policy and help submit paperwork. The biggest benefit of comparing rate quotes online is that drivers can save money and get lower rates and also buy local.

El Paso insurance agentsBy using this form (opens in new window), your coverage information is submitted to agents in your area who will gladly provide quotes for your insurance coverage. It's much easier because you don't need to contact an agency because prices are sent directly to you. If you want to get a rate quote from a specific insurance provider, don't hesitate to find their quoting web page and complete a quote there.

Finding the right company requires you to look at more than just a cheap quote. These are some questions your agent should answer.

  • If your car is totaled, how to they determine the replacement cost?
  • When do they do a full risk review?
  • Is insurance their full-time profession?
  • Is there any savings for paying the full premium?
  • How long have they been in business?
  • Are they paid to recommend certain coverages?

When finding a reputable insurance agent or broker, you must know there are a couple types of agencies and how they are slightly different. Insurance agencies are classified as either independent agents or exclusive agents depending on their employer. Either can sell insurance policies, but it's a good idea to understand how they are different because it may have an impact on your selection of an agent.

Exclusive Insurance Agencies

Exclusive agents can only quote rates from one company such as Allstate, State Farm and Farm Bureau. These agents are unable to give you multiple price quotes so they have no alternatives for high prices. Exclusive agents are highly trained on the products they sell and that enables them to sell even at higher rates. A lot of people purchase coverage from exclusives mostly because of the prominent brand name rather than having low rates.

Shown below is a short list of exclusive insurance agents in El Paso that are able to give price quotes.

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Independent Insurance Agencies

These type of agents are not locked into one company so they can write business with a variety of different insurance companies and possibly get better coverage at lower prices. If they find a cheaper price, the agent simply finds a different carrier which requires no work on your part. When comparison shopping, you definitely need to compare quotes from multiple independent agents so that you can do a thorough price comparison. Many can place coverage with companies you've never heard of who may have lower rates.

The following is a short list of independent agencies in El Paso willing to provide comparison quotes.

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Coverages available on your car insurance policy

Learning about specific coverages of your car insurance policy can be of help when determining the best coverages at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording.

Uninsured/Underinsured Motorist (UM/UIM)

This protects you and your vehicle's occupants when the "other guys" do not carry enough liability coverage. This coverage pays for hospital bills for your injuries and damage to your Chevy Malibu.

Because many people only carry the minimum required liability limits (30/60/25 in Texas), it doesn't take a major accident to exceed their coverage limits. So UM/UIM coverage is very important.

Comprehensive insurance

Comprehensive insurance pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims like hitting a deer, falling objects, damage from a tornado or hurricane, damage from getting keyed and vandalism. The highest amount a car insurance company will pay at claim time is the actual cash value, so if the vehicle is not worth much consider dropping full coverage.

Auto liability insurance

Liability insurance can cover damages or injuries you inflict on people or other property that is your fault. Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see values of 30/60/25 which stand for a limit of $30,000 per injured person, $60,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property.

Liability insurance covers claims such as bail bonds, structural damage and medical services. How much coverage you buy is your choice, but buy as high a limit as you can afford. Texas requires drivers to carry at least 30/60/25 but it's recommended drivers buy more coverage.

The chart below shows why low liability limits may not be adequate.

Collision protection

Collision insurance pays for damage to your Malibu resulting from a collision with an object or car. You first must pay a deductible then your collision coverage will kick in.

Collision coverage pays for claims such as damaging your car on a curb, sideswiping another vehicle, crashing into a ditch and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. Another option is to choose a higher deductible on your Malibu in order to get cheaper collision rates.

Med pay and Personal Injury Protection (PIP)

Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses such as funeral costs, EMT expenses, surgery, nursing services and X-ray expenses. The coverages can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. They cover both the driver and occupants as well as getting struck while a pedestrian. Personal injury protection coverage is not universally available and gives slightly broader coverage than med pay

Cover all your bases

Affordable Chevy Malibu insurance in El Paso is attainable from both online companies as well as from insurance agents, so get free El Paso car insurance quotes from both of them in order to have the best chance of saving money. There are still a few companies who don't offer price quotes online and many times these small insurance companies prefer to sell through independent insurance agents.

Insureds leave their current company for many reasons like delays in paying claims, denial of a claim, delays in responding to claim requests and high prices. It doesn't matter what your reason, finding the right auto insurance provider is pretty simple and you could end up saving a buck or two.

When searching for affordable El Paso car insurance quotes, it's very important that you do not buy lower coverage limits just to save a few bucks. In many cases, an accident victim reduced physical damage coverage and learned later that it was a big error on their part. Your objective should be to purchase a proper amount of coverage at a price you can afford.

Steps to finding cheaper rates for Chevy Malibu insurance in El Paso

The best way to save money on Chevy Malibu insurance is to do a yearly price comparison from providers in El Paso. Prices can be compared by following these guidelines.

Step 1: Get a basic knowledge of how auto insurance works and the steps you can take to keep rates low. Many rating criteria that cause rate increases such as speeding tickets, careless driving and an unacceptable credit history can be amended by making lifestyle changes or driving safer.

Step 2: Compare rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only provide price estimates from a single company like GEICO or Allstate, while independent agencies can provide prices from multiple companies.

Step 3: Compare the new rate quotes to your existing policy and determine if there is any savings. If you find a lower rate quote and change companies, ensure coverage does not lapse between policies.

Step 4: Notify your agent or company of your intent to cancel your current policy and submit a completed application and payment to your new agent or company. When you receive it, safely store the proof of insurance paperwork with the vehicle registration.

A key point to remember is to use the same physical damage deductibles and liability limits on each quote and and to get quotes from as many companies as possible. This enables a fair price comparison and a better comparison of the market.

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