Save Money on Chevy Camaro Insurance in El Paso

It takes a little time, but the best way to get budget car insurance rates in El Paso is to start doing a yearly price comparison from insurance carriers who can sell car insurance in Texas. This can be done by completing these steps.

Step 1: Learn about how companies price auto insurance and the measures you can control to keep rates low. Many rating factors that cause high rates like traffic violations and a poor credit score can be amended by improving your driving habits or financial responsibility.

Step 2: Request price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give rate quotes from a single company like Progressive or State Farm, while independent agencies can quote prices from multiple companies. Click to view companies

Step 3: Compare the quotes to your current policy premium and see if there is a cheaper rate in El Paso. If you find a better price, make sure coverage is continuous and does not lapse.

One bit of advice is to compare similar coverage information on each quote and to quote with as many companies as possible. Doing this guarantees an apples-to-apples comparison and plenty of rates choose from.

It's amazing but a large majority of insurance policyholders in Texas renewed their policy with the same company for over three years, and nearly 40% of drivers have never compared rate quotes at all. Consumers in America could pocket about $850 a year, but they underestimate the amount of money they would save if they swap their current policy for a cheaper one.

Coverage information

The rate table displayed next covers a range of insurance costs for Chevy Camaro models. Having a better idea how auto insurance policy rates are figured can benefit drivers when making smart choices when comparing insurance rates.

Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Information does not factor in specific location information which can decrease or increase premium rates considerably.

Insurance deductibles

One of the hardest decisions when shopping for insurance is which deductible level should you buy. The rates below help summarize how much more rates are when you choose different policy deductibles. The first table uses a $250 physical damage deductible and the second price chart uses a $1,000 deductible.

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Prices do not factor in garaging location in El Paso which can lower or raise price quotes considerably.

Based on the figures above, using a $250 deductible costs an average of $32 more each month or $384 a year averaged for all Camaro models than opting for the higher $1,000 deductible. Because you would pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to have more than 23 months between claims, you would save more money if you choose the higher deductible. The illustration below shows a better example of how this decision is made.

One important caveat is that raising deductibles to save money results in a higher out-of-pocket expense when you do file a claim. That will require some savings in order to pay the deductible.

Should you buy full coverage?

The example below illustrates the difference between Chevy Camaro insurance costs with full physical damage coverage compared to only buying liability only. The premiums assume a clean driving record, no at-fault accidents, $500 deductibles, drivers are not married, and no discounts are factored in.

Deciding between full coverage and liability only

There is no clear-cut formula that is best for determining when to drop physical damage coverage, but there is a general guideline. If the annual cost of having full coverage is more than around 10% of any settlement you would receive from your insurance company, then it might be time to buy liability only.

For example, let's assume your Chevy Camaro book value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $4,000 after the deductible is paid. If premiums are more than $400 a year to have full coverage, then you may need to consider dropping full coverage.

There are some conditions where dropping full coverage is not a good plan. If you haven't paid off your loan, you must maintain physical damage coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should not eliminate full coverage.

El Paso Insurance Costs are Influenced by These Factors

Many factors are part of the equation when you quote your car insurance policy. Some are obvious like a motor vehicle report, although others are less apparent such as your credit history or how financially stable you are.

The factors shown below are some of the major factors used by your company to calculate rates.

• Do you have a high stress employer? - Careers such as judges, social workers, and financial analysts have the highest average rates attributed to intense work requirements and long work days. Other jobs like actors, athletes and homemakers have lower than average premiums.
• Liability limits on your policy - Your policy's liability coverage kicks in in the event that you are determined to be liable for damages caused by your negligence. Liability provides for a legal defense to defend your case. Liability insurance is quite affordable compared to comp and collision, so drivers should buy more than the minimum limits required by law.
• Add-on coverages can add up - Insurance policies have a lot of add-on coverages that can waste your money on your Camaro policy. Things like personal injury protection, accidental death, and membership fees are probably not needed. You may think they are a good idea when deciding what coverages you need, but if you have no use for them remove them and pocket the money.
• Lower rates with uninterrupted coverage - Having a lapse in insurance coverage is a quick way to increase your insurance rates. Not only will rates go up, not being able to provide proof of insurance could earn you a revoked license or a big fine.

• Gender matters - Statistics demonstrate females are less aggressive when driving. Now that doesn't mean women are better drivers. Both sexes are responsible for accidents at about the same rate, but men cause more damage and cost insurance companies more money. Not only that, but men also get more serious tickets like DUI and reckless driving.

  The example below visualizes the comparison of Chevy Camaro insurance prices for male and female drivers. The rates are based on no violations or claims, comprehensive and collision coverage, $500 deductibles, single status, and no discounts are applied to the premium.

• Premiums are lower the older you get - Mature drivers have been proven to be more responsible, cost insurance companies less in claims, and get fewer tickets. Drivers with little experience tend to be inattentive when at the wheel of a vehicle so insurance rates are higher.

  The following data is based on a single driver, full coverage with $250 deductibles, and no discounts or violations.

• Chevy Camaro insurance claim data - Companies factor in insurance loss information to determine a rate that will be profitable for them. Models that have a trend towards higher claims will cost more for coverage. The next table illustrates the loss history for Chevy Camaro vehicles.

  For each coverage type, the statistical loss for all vehicles compiled together is a value of 100. Values that are 100 or less imply a favorable loss record, while percentages above 100 indicate frequent claims or statistically larger claims.

  Car Insurance Loss Data for Chevrolet Camaro Models

  Specific Chevrolet Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Chevrolet Camaro 2dr	139	118	123	123	130	127
  Chevrolet Camaro Convertible	92	85	107	85	95	103
  Chevrolet Camaro ZL1 2dr	222	80	174
  Chevrolet Camaro ZL1 Convertible	111		113

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Ratings for Texas auto insurance companies

Choosing the top company can be a challenge considering how many different companies insure vehicles in Texas. The rank data shown below may help you choose which companies to look at purchasing coverage from.

Top 10 El Paso Car Insurance Companies by A.M. Best Rank

1. Travelers - A++
2. USAA - A++
3. GEICO - A++
4. State Farm - A++
5. Titan Insurance - A+
6. Esurance - A+
7. Progressive - A+
8. The Hartford - A+
9. Allstate - A+
10. Nationwide - A+

Top 10 El Paso Car Insurance Companies Ranked by Value

1. Mercury Insurance
2. Travelers
3. American Family
4. AAA Insurance
5. Safeco Insurance
6. Progressive
7. The Hartford
8. The General
9. 21st Century
10. Esurance

Persistence will pay off

We just showed you many ideas to shop for Chevy Camaro insurance online. It's most important to understand that the more rate comparisons you have, the better your chances of lowering your rates. Consumers may even find the most savings is with a smaller regional carrier. They can often insure niche markets at a lower cost compared to the large companies like Progressive and GEICO.

Some insurance providers do not offer the ability to get a quote online and many times these small insurance companies sell through local independent agencies. Lower-priced Chevy Camaro insurance in El Paso can be found from both online companies and with local El Paso insurance agents, so you should compare both to have the best rate selection.

Additional car insurance information can be found at the links below

• Insurance Losses by Make and Model (iihs.org)
• Vehicle Safety Ratings (iihs.org)
• Understanding Limits and Deductibles (Allstate)
• Self-driving cars won't replace humans (Insurance Institute for Highway Safety)
• Hybrid vehicles cost insurers more (Insurance Institute for Highway Safety)