Buying the cheapest insurance for a Chevrolet Equinox can be pretty simple, but it relies on a complicated rating formula that uses factors such as how old the Equinox is, if you have a tendency to file claims, and any prior driving offenses you have. Drivers pay approximately $943 each year to insure their Equinox, but that amount is an approximation calculated using a 50-year-old single female driver with both comprehensive and collision coverage and $1,000 deductibles.
Odds are that you are not 50 and maybe not even a female, maybe you are married instead of single, or maybe you have a speeding ticket or two that will increase rates. Having just a slight change in the factors used in pricing a policy can result in a massive change in the coverage rate.
Each driver’s needs are different, and that demonstrates why the way we recommend to find the most affordable coverage for your Chevrolet is to put in the effort to do a thorough rate comparison. It only takes a few minutes and you will receive prices from some of the cheapest companies that sell coverage in Texas.
The specific model of Equinox tends to impact the cost of insurance, so the rate you will pay to insure a Equinox LS 2WD will be $74 less than the cost to insure the high end Equinox LTZ AWD model, as shown in the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Equinox LS 2WD||$156||$306||$430||$26||$128||$1,046||$87|
|Equinox LT 2WD||$156||$306||$430||$26||$128||$1,046||$87|
|Equinox LS AWD||$156||$306||$430||$26||$128||$1,046||$87|
|Equinox LT AWD||$156||$306||$430||$26||$128||$1,046||$87|
|Equinox LTZ 2WD||$176||$360||$430||$26||$128||$1,120||$93|
|Equinox LTZ AWD||$176||$360||$430||$26||$128||$1,120||$93|
|Equinox LTZ AWD||$176||$360||$430||$26||$128||$1,120||$93|
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Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Premium costs do not factor in zip code location which can influence coverage rates substantially.
Trying to find cost effective insurance is not most people’s favorite thing to do, and finding out which companies offer the cheapest auto insurance rates for a Chevrolet Equinox may require a little more work. Each auto insurance company uses their own formula to set policy rates, so we’ll go over the auto insurance companies with the overall best prices in Plano.
Find the Cheapest Car Insurance for Your Equinox
|Rank||Company||Cost Per Year|
|3||Texas Farm Bureau||$1,235|
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Travelers may have some of the most affordable car insurance rates in Plano at around $1,052 annually. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the cheapest Plano, TX car insurance companies.
In this example, if you have coverage with Germania Mutual and switched to Travelers, you might achieve a yearly price reduction of upwards of $192. Texas drivers with Esurance might save as much as $313 a year, and California Casualty customers might cut rates by $330 a year.
To see if your current coverage is too expensive, click here or feel free to get quotes from the companies below.
It’s important to note that these premiums are averages for all types of insureds and vehicles and do not take into consideration a specific zip code for a Chevrolet Equinox. So the auto insurance company that can offer you the lowest price may not even be in the list above. That helps illustrate why you need to get car insurance quotes using your own personalized driver profile and vehicle information.
Discount Plano car insurance
Insurance providers that provide coverage for a Chevrolet Equinox may additionally offer discounts that could lower prices by 35% or more if you can meet the requirements. Companies and a selection of discounts are included below.
- State Farm may offer discounts for Drive Safe & Save, safe vehicle, multiple autos, Steer Clear safe driver discount, student away at school, anti-theft, and good driver.
- American Family policyholders can earn discounts including good student, TimeAway discount, Steer into Savings, air bags, and accident-free.
- AAA has discounts for education and occupation, anti-theft, good driver, good student, multi-policy, and AAA membership discount.
- GEICO has savings for five-year accident-free, military active duty, air bags, defensive driver, anti-theft, and seat belt use.
- Mercury Insurance may include discounts for accident-free, good driver, annual mileage, age of vehicle, professional/association, and good student.
- Farmers Insurance offers discounts for switch companies, business and professional, electronic funds transfer, bundle discounts, and multi-car.
- Progressive offers premium reductions for online signing, multi-vehicle, good student, multi-policy, continuous coverage, and online quote discount.
The illustration below shows the difference between insurance prices with and without policy discounts. The data assumes a male driver, no claims or driving violations, Texas state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with passive restraint, accident-free, multiple policy, safe-driver, vehicle safety, and homeowner discounts applied. With discounts applied, the average amount saved each year on auto insurance for a Chevrolet Equinox is 28% or $565.
Your low-price policy may be costing you money
Texas auto insurance rates are calculated based on many things that can increase the cost of your policy. Turning one year older, increasing deductibles, or getting a couple of tickets can produce rate changes that may make certain companies more affordable than others.
Not only may things change on your end, but insurers modify pricing every year to adjust for unexpected claims or profits. An unexpected high level of claims can cause high rates, while better underwriting can result in cheaper Equinox insurance rates.
The graph below shows the cheapest car insurance in Plano, TX for a 30-year-old female driver with no accidents, a clean driving record, and good credit. If we estimate prices based on her current risk factors, Travelers might offer the lowest car insurance rates in Plano at $1,139 annually. This is $765 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are the rest of the most affordable Plano, TX auto insurance companies.
Now we will give the driver in the first chart a chargeable claim, a lower credit rating, and a few traffic violations. Since each company has a unique formula for filing rates in each state, comparing quotes could now result in a different list of the cheapest Plano car insurance companies as shown below.
State Farm now has the best price in Plano, TX with Mercury, Nationwide, USAA, and Safe Auto now being in the top five. This demonstrates why Texas drivers need to perform a complete rate comparison to get the lowest auto insurance rates for a Chevrolet Equinox.
Car insurance prices are made up of many things and change substantially, so the cheapest option the last time you shopped around may now be wasting a lot of money.