Compare 2006 Chevrolet Malibu Insurance Rates

Looking for lower insurance coverage rates for your Chevrolet Malibu? Are you overwhelmed by the crazy number of insurance coverage company choices? Many other drivers are as well. You have so many options that it can be more work than you anticipated to find the lowest price.

You should take the time to compare rates before your policy renews because insurance rates trend upward over time. Just because you had the lowest price for Malibu insurance six months ago there is a good chance you can find better rates now. Forget anything you know (or think you know) about insurance coverage because we’re going to demonstrate the quickest way to save money, get proper deductibles and limits, all at the lowest rate.

What determines your Chevy Malibu insurance premium

An important part of buying insurance is that you know the rating factors that come into play when calculating auto insurance rates. Having a good understanding of what impacts premium levels empowers consumers to make smart changes that may reward you with better auto insurance rates.

  • Where you live – Being located in small towns and rural areas can be a good thing when talking about auto insurance. Less people living in that area means a lower chance of having an accident and also fewer theft and vandalism claims. Drivers who live in large cities have much more traffic to deal with and longer commute times. More time commuting means higher likelihood of an accident.
  • Women pay lower rates – The statistics show women are more cautious behind the wheel. Now that doesn’t mean women are better drivers. Both sexes have accidents at about the same rate, but the males tend to have more serious accidents. They also get more serious tickets like reckless driving and DUI.
  • Marriage pays dividends – Being married helps lower the price on your policy. Having a significant other translates into being more mature than a single person and it’s proven that being married results in fewer claims.
  • Pleasure use saves money – The higher the mileage driven each year the higher your rate. Almost all companies charge to insure your cars determined by how the vehicle is used. Cars and trucks used primarily for pleasure use qualify for better rates than vehicles that are driven to work every day. Double check that your auto insurance declarations sheet shows the correct usage for each vehicle. If your policy improperly rates your Malibu may be costing you.
  • Never go without insurance – Driving your car without having proper coverage is a misdemeanor and you will pay a penalty because you let your insurance lapse. Not only will rates go up, but being ticketed for driving with no insurance may earn you a license revocation or jail time.
  • Discounts for multiple policies – The majority of companies will award you with lower prices to insureds who buy several policies from them such as combining an auto and homeowners policy. Discounts can amount to anywhere from five to ten percent in most cases. Even if you’re getting this discount you still need to compare other company rates to verify if the discount is saving money. Consumers may find better rates by insuring with multiple companies.
  • Liability coverage protects you – Liability insurance is the coverage that protects you when you are found liable for damages from an accident. Liability insurance provides legal defense coverage up to the limits shown on your policy. Liability insurance is quite affordable compared to physical damage coverage, so buy as much as you can afford.
  • Credit scores impact auto insurance rates – A driver’s credit score is a huge factor in your rate calculation. If your credit score is lower than you’d like, you could save money insuring your 2006 Chevrolet Malibu by repairing your credit. Drivers who have high credit ratings tend to be better drivers and file fewer claims than drivers with poor credit.

Save money by taking advantage of these discounts

Car insurance companies don’t necessarily list every discount very clearly, so here is a list both the well known as well as the least known ways to save on insurance coverage.

  • Clubs and Organizations – Belonging to a civic or occupational organization could trigger savings on insurance coverage for Malibu insurance.
  • Passive Restraint Discount – Cars that have air bags or automatic seat belts may earn rate discounts up to 30%.
  • Drivers Ed for Students – Have your child successfully complete driver’s ed class if offered at their school.
  • Early Signing – Some insurance companies reward drivers for buying a policy before your current policy expires. This can save 10% or more.
  • Anti-lock Brake System – Cars that have steering control and anti-lock brakes can avoid accidents and qualify for as much as a 10% discount.

A little note about advertised discounts, most discount credits are not given to the entire policy premium. Most only reduce specific coverage prices like collision or personal injury protection. So even though it sounds like all the discounts add up to a free policy, you won’t be that lucky.

A partial list of companies that possibly offer these discounts include:

Before buying, ask all companies you are considering which discounts you may be entitled to. Discounts may not apply in your area.

The fine print in car insurance ads

Car insurance companies such as State Farm, Geico and Progressive regularly use ads in print and on television. They all seem to make an identical promise that you’ll save big if you move to their company. How do they all make almost identical claims? It’s all in the numbers.

All companies can use profiling for the type of customer they prefer to insure. For instance, a profitable customer could be between the ages of 30 and 50, has no prior claims, and has excellent credit. Any new insured who fits that profile will qualify for the lowest rates and therefore will save quite a bit of money when switching.

Potential insureds who don’t meet the requirements will have to pay higher premiums which leads to business not being written. The ad wording is “drivers who switch” not “everyone that quotes” save that much money. That’s why companies can truthfully make those claims. Because of the profiling, it’s extremely important to get as many quotes as possible. It’s not possible to predict which car insurance company will provide you with the cheapest Chevy Malibu insurance rates.

When should I use an insurance agent?

When choosing proper insurance coverage for your personal vehicles, there is no single plan that fits everyone. Everyone’s needs are different.

For example, these questions might help in determining whether your personal situation would benefit from professional advice.

  • How much liability insurance is required?
  • Is my custom paint covered by insurance?
  • What are the best liability limits?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • Are my friends covered when driving my car?
  • Am I covered when driving someone else’s vehicle?

If it’s difficult to answer those questions but you know they apply to you, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, simply complete this short form.

Coverages available on your policy

Knowing the specifics of a car insurance policy can help you determine which coverages you need and proper limits and deductibles. Car insurance terms can be confusing and even agents have difficulty translating policy wording.

Coverage for liability – Liability coverage will cover damages or injuries you inflict on people or other property in an accident. It protects you from claims by other people. Liability doesn’t cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 25/50/25 that means you have a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property.

Liability insurance covers things such as pain and suffering, funeral expenses, legal defense fees, structural damage and repair bills for other people’s vehicles. The amount of liability coverage you purchase is your choice, but consider buying as large an amount as possible.

Collision coverage – Collision insurance covers damage to your Malibu caused by collision with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things such as scraping a guard rail, colliding with another moving vehicle, hitting a mailbox and rolling your car. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are older. It’s also possible to raise the deductible in order to get cheaper collision rates.

Coverage for medical payments – Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses for things like prosthetic devices, chiropractic care, nursing services and rehabilitation expenses. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants and will also cover being hit by a car walking across the street. PIP is not available in all states and gives slightly broader coverage than med pay

Comprehensive coverages – This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers things like falling objects, theft and hitting a bird. The most a car insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Uninsured and underinsured coverage – This protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family as well as your vehicle’s damage.

Since many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Never pay more for less

Throughout this article, we presented many ideas to get a better price on 2006 Chevy Malibu insurance. The key thing to remember is the more rate quotes you have, the more likely it is that you will get a better rate. You may even discover the lowest rates come from a small mutual company.

Cost effective insurance is possible online in addition to many insurance agents, and you should be comparing both to have the best selection. Some insurance companies do not provide you the ability to get quotes online and most of the time these small insurance companies sell through independent agents.

Drivers switch companies for a number of reasons such as high rates after DUI convictions, policy cancellation, delays in paying claims and even poor customer service. Whatever your reason, finding a new insurance company is pretty easy and you might even save some money in the process.

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