Finding competitive auto insurance for a Chevrolet Equinox can be really easy, but it hinges on a very complex rating algorithm that uses multiple factors such as whether you are married or single, your geographic location, and any prior driving offenses you have. Texas drivers pay on average $1,255 a year to insure their Equinox, but that cost is a projection based upon a 40-year-old married male driver with full physical damage coverage and $100 deductibles.
Most likely you are not 40 and maybe not even a male, single instead of married, and maybe your Equinox is older and does not require full coverage. Having even a minor difference in policy rating criteria or coverages may result in a big change in policy price.
Different coverage needs are the reason why the only way to find the cheapest rates for your Chevrolet is to compare rates from as many companies as possible. Price quotes are quick and you can get prices from top-rated companies in Texas.
The trim level of your Chevrolet can impact the coverage cost, so the price you will be charged to insure a Equinox LS 2WD model will cost $136 less than the insurance cost for the more costly Equinox LTZ AWD model, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Equinox LS 2WD||$298||$544||$392||$24||$118||$1,376||$115|
|Equinox LT 2WD||$298||$544||$392||$24||$118||$1,376||$115|
|Equinox LS AWD||$298||$544||$392||$24||$118||$1,376||$115|
|Equinox LT AWD||$298||$544||$392||$24||$118||$1,376||$115|
|Equinox LTZ 2WD||$336||$642||$392||$24||$118||$1,512||$126|
|Equinox LTZ AWD||$336||$642||$392||$24||$118||$1,512||$126|
|Equinox LTZ AWD||$336||$642||$392||$24||$118||$1,512||$126|
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Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Rates do not factor in specific location which can alter coverage prices significantly.
Texas insurance companies ranked
Picking the right car insurance provider can be rather challenging considering how many companies there are to choose from in Laredo. The information below can help you choose which providers you want to consider shopping prices with. The rankings below include companies that insure vehicles nationwide, so smaller companies are not included in this list.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Poor driving habits will raise your insurance rates
In a perfect world, the ideal way to get the cheapest insurance prices in Laredo for an Equinox is to drive attentively and not have accidents or get tickets. The illustration below illustrates how violations and at-fault claims can impact car insurance rates for different insured age categories. The data is based on a single female driver, full physical damage coverage, $100 deductibles, and no discounts are taken into consideration.
The data charted above shows the average cost of auto insurance per year with no accidents or violations is $2,453. Get written up for two speeding tickets and the average cost swells to $3,302, an increase of $850 each year. Then include one accident along with the two speeding tickets and the 12-month cost of insurance for a Chevrolet Equinox increases to an average of $4,158. That’s an increase of $1,706, or $142 per month, just for not being a responsible driver!
Does it make sense to buy full coverage?
Buying cheaper insurance is probably important to the majority of people, and one great way to save on the cost of insurance for a Chevrolet Equinox is to buy liability only. The diagram below shows the comparison of auto insurance costs when comparing full coverage to liability only. The premiums assume no accidents or driving violations, $250 deductibles, marital status is single, and no additional discounts are factored in.
As an average for all age groups, full coverage costs $2,370 per year more than buying just liability insurance. That may make you wonder when is the right time to remove full coverage. There isn’t a steadfast formula to drop full coverage, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than around 10% of the replacement cost minus the deductible, then you might want to think about dropping full coverage.
Comparing rates on Equinox insurance can save you money
Laredo insurance rates are influenced by many factors which can significantly increase or decrease the cost of a policy. Simply turning a year older, buying a home instead of renting, or having a fender bender may cause policy rate changes resulting in some rates now being affordable when they were higher priced. And not only may your rating factors change, but car insurance companies change rates as needed in order to offset underwriting gains or losses. Heavier than normal losses may cause increased rates, while lower claims may result in lower-priced Equinox insurance rates.
To illustrate this example, the graph below demonstrates which company has the cheapest car insurance in Laredo, TX for a 45-year-old male driver with no accidents, a clean driving record, and a decent credit rating. When quoting prices based on his current risk profile, Travelers has the lowest car insurance rates in Laredo at $1,295 a year. This is $609 less than the average policy premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are the rest of the cheapest Laredo, TX auto insurance companies.
In the next rate comparison, we’ll give the driver from the first set of rates an at-fault accident, slightly worse credit, and a few blemishes on his driving record. Due to the fact that each insurance company uses their own formula to determining premium rates, comparing quotes will most likely result in a substantially altered list of the cheapest Laredo car insurance companies as shown below.
State Farm now has the lowest price on auto insurance in Laredo, TX with Mercury, USAA, Safe Auto, and Nationwide also being competitive. This demonstrates why it is critical to compare many different companies to get the most affordable insurance quotes for a Chevrolet Equinox. Auto insurance prices are made up of many different factors and can increase or decrease at any time, so the best price the last time you shopped around may now be costing you a lot of money.
Ideas for buying more affordable auto insurance for a Chevrolet Equinox
Lowering your rates is not difficult, and here are many money-saving solutions that can help Laredo drivers find lower-cost coverage.
- Vehicles with good safety ratings are usually cheaper to insure
- Improve your credit score
- Remove physical damage coverage on older vehicles
- Raise deductibles
- Maintain a safe distance and avoid accidents
- Tickets and violations raise rates
- Compare prices as often as possible
That last tip is remarkably necessary, as we emphasized in the article above. Rates can change significantly in a year, so don’t be unwilling to switch companies if a more affordable price is available. Staying with the same company for years is fine, but is isn’t recommended if that devotion results in you overpaying money that could be used for better things. It only take a few minutes to compare rates and find cheaper auto insurance for a Chevrolet Equinox in Laredo.
The insurance agents in Laredo listed below are a good start to provide answers to your questions and help you determine which coverages you need, as some drivers wish to get some professional advice when buying car insurance for a Chevrolet Equinox. It can be hard to find the cheapest rates, so a professional agent can give peace of mind knowing your policy gives you enough coverage when you need it. To locate a Laredo car insurance agency close to you, click the button after the list or click here to compare price quotes now.
- Anabella Herbig – State Farm Insurance Agent
315 Calle Del Norte Dr #103 – Laredo, TX 78041 – (956) 725-1617
- Allstate Insurance Agent: Jorge A Monsivais
414 Shiloh Dr Unit 1 – Laredo, TX 78045 – (956) 722-0087
- Luis Estrada – State Farm Insurance Agent
3660 E Del Mar Blvd #9 – Laredo, TX 78041 – (956) 568-8013
- J and E Insurance
1701 S Malinche Ave – Laredo, TX 78046 – (956) 791-1633