2005 Chevrolet Cobalt Insurance Rates

Looking for cheaper auto insurance rates for your Chevrolet Cobalt? I can’t think of a single person who likes having to buy auto insurance, especially knowing the cost is way too high. Because you have many auto insurance companies to choose from, it’s nearly impossible to choose the right car insurance company.

It is always a good idea to take a look at other company’s rates periodically due to the fact that insurance rates are usually higher with each renewal. Just because you found the lowest rates on Cobalt coverage on your last policy the chances are good that you can find a lower rate today. There is a lot of bad information regarding auto insurance online but by reading this article, you’re going to learn some excellent ideas to save money.

Discounts are available to cut your rates

Companies do not list every available discount in an easy-to-find place, so the following is a list of some of the more common and also the lesser-known auto insurance savings. If they aren’t giving you every credit you deserve, you are throwing money away.

  • Discount for Good Grades – A discount for being a good student can earn a discount of 20% or more. Earning this discount can benefit you up until you turn 25.
  • Accident Waiver – Some insurance companies will forgive one accident before your rates go up if your claims history is clear for a set time period.
  • Memberships – Belonging to certain professional organizations could qualify you for a break on your policy on Cobalt coverage.
  • Theft Prevention Discount – Vehicles with anti-theft systems are stolen less frequently and qualify for as much as a 10% discount.
  • Defensive Driving Course – Taking part in a driver safety course could possibly earn you a 5% discount and easily recoup the cost of the course.
  • Save with a New Car – Putting insurance coverage on a new car can save up to 30% because new vehicles have to meet stringent safety requirements.

As a disclaimer on discounts, most discounts do not apply to your bottom line cost. Most only reduce specific coverage prices like comp or med pay. Even though it may seem like adding up those discounts means a free policy, auto insurance companies aren’t that generous.

A partial list of companies that may have these discounts include:

Check with each company what discounts are available to you. All car insurance discounts might not apply everywhere.

Everyone needs different coverages

When buying adequate coverage for your vehicles, there really is no cookie cutter policy. Each situation is unique and a cookie cutter policy won’t apply. These are some specific questions might point out whether or not you may require specific advice.

  • What is high-risk coverage and where do I buy it?
  • Does my insurance cover my expensive audio equipment?
  • Do I need rental car coverage?
  • Does insurance cover tools stolen from my truck?
  • Does medical payments coverage apply to all occupants?
  • What is the minimum liability in my state?
  • Is my Chevy Cobalt covered if I use it for business?
  • What happens if I owe more than my 2005 Chevy Cobalt is worth?
  • Does my 2005 Chevy Cobalt need full coverage?

If you can’t answer these questions but one or more may apply to you, you may need to chat with an agent. To find lower rates from a local agent, fill out this quick form or click here for a list of auto insurance companies in your area. It only takes a few minutes and may give you better protection.

Can switching companies really save?

Drivers can’t get away from ads for the lowest price auto insurance from the likes of Geico, State Farm and Progressive. All the companies make the same claim that you can save if you move your coverage to them.

How does each company say the same thing?

Different companies can use profiling for the type of driver that earns them a profit. A good example of a preferred risk could possibly be between the ages of 40 and 55, has no prior claims, and drives less than 10,000 miles a year. Any new insured who meets those qualifications will qualify for the lowest rates and is almost guaranteed to save when they switch companies.

Consumers who don’t meet the “perfect” profile will be charged higher premiums which leads to business going elsewhere. Company advertisements say “customers who switch” not “everyone that quotes” save that much money. That is how insurance companies can confidently make the claims of big savings. That is why it’s extremely important to compare many company’s rates. It’s not possible to predict which auto insurance company will have the lowest Chevy Cobalt insurance rates.

Auto insurance coverage basics

Learning about specific coverages of a auto insurance policy can be of help when determining the best coverages and the correct deductibles and limits. Auto insurance terms can be difficult to understand and even agents have difficulty translating policy wording. Below you’ll find the usual coverages found on the average auto insurance policy.

Comprehensive coverages – This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things like hail damage, hitting a bird, damage from flooding, damage from a tornado or hurricane and a broken windshield. The highest amount you’ll receive from a claim 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.

Uninsured and underinsured coverage – Your UM/UIM coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as damage to your Chevy Cobalt.

Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is very important.

Coverage for medical payments – Coverage for medical payments and/or PIP reimburse you for short-term medical expenses for things like hospital visits, surgery, ambulance fees and rehabilitation expenses. The coverages can be used in conjunction with a health insurance program or if you do not have health coverage. Medical payments and PIP cover all vehicle occupants as well as getting struck while a pedestrian. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage

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

Collision coverage protects against things like crashing into a building, damaging your car on a curb, crashing into a ditch, hitting a parking meter and rolling your car. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. Drivers also have the option to choose a higher deductible to get cheaper collision coverage.

Liability insurance – Liability insurance can cover damages or injuries you inflict on other people or property that is your fault. It protects YOU against other people’s claims, and doesn’t cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000.

Liability insurance covers things such as medical expenses, pain and suffering, legal defense fees and medical services. How much liability coverage do you need? That is up to you, but you should buy as high a limit as you can afford.

A penny earned…

As you go through the steps to switch your coverage, you should never skimp on critical coverages to save a buck or two. There are a lot of situations where an insured cut liability coverage limits and learned later that the small savings ended up costing them much more. The proper strategy is to find the BEST coverage at a price you can afford, not the least amount of coverage.

We covered some good ideas how to reduce 2005 Chevy Cobalt insurance prices online. The key thing to remember is the more providers you compare, the better your chances of lowering your rates. You may be surprised to find that the lowest priced insurance coverage comes from a small mutual company. Some small companies can often provide lower rates in certain areas compared to the large companies like State Farm and Allstate.

Cheap insurance can be sourced both online and also from your neighborhood agents, and you should be comparing both so you have a total pricing picture. Some insurance providers may not provide online price quotes and most of the time these regional insurance providers sell through independent agents.

Additional detailed information is available in the articles below: