Find Cheaper Chevy Traverse Insurance in Laredo

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Insurance for Chevy TraverseIf your goal is the lowest price, then the best way to find more affordable Chevy Traverse insurance in Laredo is to compare prices regularly from companies in Texas. Price quotes can be compared by following these steps.

  1. Try to comprehend how auto insurance works and the factors you can control to keep rates down. Many risk factors that result in higher prices like accidents, careless driving, and a substandard credit history can be remedied by making minor changes in your lifestyle. Continue reading for ideas to get cheaper coverage and get additional discounts that may have been overlooked.
  2. Compare price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from one company like GEICO or State Farm, while agents who are independent can provide price quotes for a wide range of companies.
  3. Compare the new quotes to your existing rates to see if you can save by switching companies. If you can save some money and decide to switch, make sure there is no coverage gap between policies.
  4. Provide written notification to your current company of your decision to cancel your current auto insurance policy and submit a completed policy application and payment to the new insurer. As soon as coverage is bound, place your new certificate verifying proof of insurance in a readily accessible location in your vehicle.

The most important part of this process is to try to compare identical coverage information on each quote request and and to get price quotes from as many carriers as you can. Doing this provides a fair rate comparison and a good representation of prices.

It's amazing but most auto insurance buyers kept buying from the same company for well over three years, and 38% of customers have never even compared rates from other companies. Drivers in Laredo could save themselves almost 70% a year, but most undervalue the amount of savings they would get if they switch to a new company.

Compare Laredo Chevy Traverse insurance quotes

Finding cheaper Laredo auto insurance rates is not a difficult process. You just have to spend a few minutes on the computer to compare rate quotes provided by online insurance companies.

The companies shown below provide comparison quotes in Texas. In order to find cheap auto insurance in Laredo, it's a good idea that you visit two to three different companies to find the most competitive auto insurance rates.

You may qualify for discounts for Chevy Traverse insurance in Laredo

Insuring your vehicles can cost a lot, but there are discounts available that may help make it more affordable. Some discounts will apply at quote time, but a few must be inquired about prior to receiving the credit.Save money with discounts

  • Multi-Vehicle Discounts - Drivers who insure several vehicles with the same insurance company can reduce rates for all insured vehicles.
  • Telematics Data Discounts - People who choose to allow companies to monitor when and where they use their vehicle by using a small device installed in their vehicle such as Progressive's Snapshot may see discounts if they show good driving skills.
  • No Claim Discounts - Claim-free drivers pay less as compared to policyholders that have many claims.
  • New Car Discount - Insuring a new Traverse is cheaper since new vehicles have better safety ratings.
  • Memberships - Joining a qualifying organization is a simple method to lower premiums on your next insurance statement.
  • Distant Student - Kids who are enrolled in a college that is more than 100 miles from Laredo and leave their car at home could get you a discount.
  • Active Military Service - Being deployed in the military could be rewarded with lower rates.
  • Smart Student Discounts - Excelling in school may save you up to 25%. This discount can apply up until you turn 25.

A little disclaimer on discounts, most discounts do not apply to the overall cost of the policy. Some only apply to the cost of specific coverages such as liability, collision or medical payments. Despite the appearance that you would end up receiving a 100% discount, company stockholders wouldn't be very happy.

The information below illustrates the comparison of Chevy Traverse auto insurance costs with and without some available policy discounts. The premium estimates are based on a female driver, no claims or violations, Texas state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, safe-driver, marriage, multi-car, claim-free, and homeowner discounts applied.

A few companies that possibly offer these money-saving discounts include:

If you need lower rates, check with all the companies which credits you are entitled to. Some of the discounts discussed earlier may not apply to policies in your area. To see a list of insurers offering insurance discounts in Laredo, click this link.

Insurance coverage details

The coverage information below showcases different coverage costs for Chevy Traverse models. Understanding more about how car insurance prices are established is important to be able to make informed decisions when comparing rate quotes.

Chevrolet Traverse Insurance Rates in Laredo, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Traverse LS 2WD $178 $294 $392 $24 $118 $1,006 $84
Traverse LS AWD $202 $294 $392 $24 $118 $1,030 $86
Traverse LT 2WD $202 $294 $392 $24 $118 $1,030 $86
Traverse LT AWD $202 $358 $392 $24 $118 $1,094 $91
Traverse LTZ 2WD $202 $358 $392 $24 $118 $1,094 $91
Traverse LTZ AWD $202 $358 $392 $24 $118 $1,094 $91
Get Your Own Custom Quote Go

Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Prices do not factor in specific zip code location which can change premiums greatly.

Higher deductibles save money

When comparing auto insurance rates, the most common question is how high should the physical damage deductibles be. The rates shown below sum up the premium difference when you choose different physical damage deductibles. The first rate estimation uses a $100 comprehensive and collision deductible and the second rate table uses a $500 deductible.

Chevrolet Traverse insurance premium rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Traverse LS 2WD $328 $486 $324 $20 $96 $1,279 $107
Traverse LS AWD $370 $486 $324 $20 $96 $1,321 $110
Traverse LT 2WD $370 $486 $324 $20 $96 $1,321 $110
Traverse LT AWD $370 $592 $324 $20 $96 $1,427 $119
Traverse LTZ 2WD $370 $592 $324 $20 $96 $1,427 $119
Traverse LTZ AWD $370 $592 $324 $20 $96 $1,427 $119
Get Your Own Custom Quote Go
Chevrolet Traverse insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Traverse LS 2WD $240 $328 $324 $20 $96 $1,008 $84
Traverse LS AWD $270 $328 $324 $20 $96 $1,038 $87
Traverse LT 2WD $270 $328 $324 $20 $96 $1,038 $87
Traverse LT AWD $270 $400 $324 $20 $96 $1,110 $93
Traverse LTZ 2WD $270 $400 $324 $20 $96 $1,110 $93
Traverse LTZ AWD $270 $400 $324 $20 $96 $1,110 $93
Get Your Own Custom Quote Go

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Price information does not factor in specific Laredo garaging location which can affect insurance rates substantially.

Based on the above data, using a $100 deductible costs approximately $24 more each month or $288 a year than selecting the higher $500 deductible. Due to the fact that you would have to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you have at a minimum 17 months between claim filings, you would come out ahead if you choose the higher deductible. The table below shows the way you can make this decision for your own policy.

Average monthly premium for $100 deductibles: $114
Average monthly premium for $500 deductibles (subtract): - $90
Monthly savings from raising deductible: $24
Difference between deductibles ($500 - $100): $400
Divide difference by monthly savings: $400 / $24
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 17 months

One important note is that raising deductibles results in having to pay to pay more out-of-pocket when you file a claim. You need to make sure you have some savings in the bank in order to pay the deductible to have repairs made.

The chart below shows how different deductible levels and can affect Chevy Traverse premium costs for each different age group. The information is based on a married female driver, full physical damage coverage, and no discounts are taken into consideration.

Careless drivers pay higher rates

The chart below shows how violations and at-fault collisions can raise Chevy Traverse auto insurance rates for each different age category. The premium estimates are based on a single female driver, comp and collision included, $1,000 deductibles, and no policy discounts are applied.

Chevrolet Traverse full coverage rates compared to liability only

The information below illustrates the difference between Chevy Traverse insurance prices with full physical damage coverage and with liability coverage only. The premiums are based on no accidents or driving violations, $250 deductibles, single marital status, and no other discounts are factored in.

When to drop comprehensive and collision

There isn't a steadfast formula of when to exclude comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the annual cost of having full coverage is more than 10% of the replacement cost minus the deductible, then you might consider buying liability only.

For example, let's pretend your Chevy Traverse replacement cost is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company will settle for is $5,000 after the deductible is paid. If you are paying more than $500 a year for comprehensive and collision coverage, then it might be time to buy liability only.

There are some situations where dropping physical damage coverage is not recommended. If you still owe a portion of the original loan, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.

Chevy Traverse Insurance Prices Can Be Reduced

Multiple criteria are used in the calculation when you get your auto insurance bill. Some factors are common sense like a motor vehicle report, but other criteria are more obscure like where you live or your vehicle rating.

  • High performance equals high costs - The type of vehicle you are trying to find cheaper insurance for makes a huge difference in the rate you pay. The best insurance prices will generally be found on smaller low performance passenger cars, but there are many factors that impact the final cost.

    The chart below uses these assumptions: single female driver age 50, full coverage with $100 deductibles, and no discounts or violations. It compares Chevrolet Traverse policy rates compared to other models of vehicles that have different performance rating factors.

  • Men pay more for insurance coverage - The statistics show women are more cautious behind the wheel. Now that doesn't mean males are worse at driving than females. Males and females are responsible for auto accidents in similar numbers, but the men have accidents that have higher claims. Not only that, but men also get more serious tickets like driving under the influence (DUI).

    The diagram below visualizes the comparison of Chevy Traverse annual premium costs for male and female drivers. The price estimates are based on a clean driving record, no at-fault accidents, comp and collision included, $250 deductibles, drivers are not married, and no other discounts are factored in.

  • Liability coverage safeguards assets - Liability coverage is the protection when a court rules you are at fault for causing damage or personal injury in an accident. It provides legal defense up to the limits shown on your policy. This coverage is very inexpensive when compared with rates for comp and collision, so do not skimp.
  • No claims equals lower car insurance rates - Auto insurance companies in Texas award most affordable rates to drivers who file claims infrequently. If you're an insured who likes to file claims you can definitely plan on higher rates. Insurance coverage is meant to be used in the event of the large, substantial claims.
  • Certain vocations raise prices - Did you know your occupation can influence how much you pay for car insurance? Occupational choices like military generals, airline pilots, and miners usually pay higher average rates because of intense work situations and extremely grueling work hours. Conversely, jobs like farmers, engineers and performers have lower than average premiums.
  • Improve your credit history - Credit score is a big factor in determining what you pay for car insurance. People with good credit tend to file fewer claims and have better driving records than those with lower credit ratings. So if your credit rating is lower than you'd like, you could pay less to insure your Chevrolet Traverse if you clean up your credit.
  • Less chance of injury means lower prices - Vehicles with good safety scores tend to be cheaper to insure. Vehicles engineered for safety reduce occupant injuries and fewer serious injuries means less claims paid and lower rates for you. If the Chevy Traverse has at least four stars on Safercar.gov or an "acceptable" rating on iihs.org you may be receiving a better rate.
  • Physical damage deductibles - Insurance for physical damage, also known as collision and other-than-collision, insures against damage to your Chevy. Some coverage claims could be colliding with a building, collision with an animal, and burglary. Comprehensive and collision coverage deductibles are how much the insured will be required to pay if a claim is determined to be covered. The more damage repair cost the insured is willing to pay, the lower your rates will be.
  • Chevy Traverse insurance loss data - Auto insurance companies use claims history as a tool for profitable underwriting. Models that are shown to have higher loss trends will have a higher premium rate.

    The table below illustrates the compiled insurance loss statistics for Chevy Traverse vehicles. For each coverage type, the claim amount for all vehicles, as a total average, is represented as 100. Numbers shown that are under 100 are indicative of better than average losses, while values that are above 100 point to more claims or statistically larger claims.

    Auto Insurance Loss Data for Chevrolet Traverse Models
    Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Chevrolet Traverse 4dr 2WD 75 101 72 93 90 90
    Chevrolet Traverse 4dr 4WD 72 91 82 78 76 78
    BETTER
    AVERAGE
    WORSE

    Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years