Do you want more affordable Chevy Traverse insurance in Plano? If you are new to online price comparisons, it's easy to be confused by the vast assortment of insurance providers who claim to have the best insurance rates.
It's a fact that car insurance companies don't want you to compare rates. Drivers who compare rates annually will presumably switch to a new company because there are good odds of finding a lower-cost company. A recent survey revealed that consumers who compared price quotes annually saved an average of $3,500 over four years compared to policyholders who never compared other company's rates.
If finding the cheapest rates on Chevy Traverse insurance is your objective, then having some knowledge of how to shop for insurance rates can help you succeed in saving money.
Shopping for the best policy in Plano is not as confusing as people think. In essence, every car owner who comparison shops for insurance will more than likely find a cheaper policy. But Texas vehicle owners must comprehend how big insurance companies set your policy premium.
How do Insurers Determine Chevy Traverse Insurance Costs?
Lots of factors are considered when you get your auto insurance bill. Some of the criteria are obvious such as traffic violations, but other criteria are more transparent such as your credit history or how safe your car is. Consumers need to have an understanding of some of the things that are used to determine the price you pay for insurance. When consumers understand what positively or negatively impacts your premiums, this empowers consumers to make smart changes that will entitle you to lower rates.
The following are some of the items utilized by car insurance companies to help set your premiums.
Be proud to be claim-free - Insurance companies in Texas provide most affordable rates to people who file claims infrequently. If you file a lot of claims you can definitely plan on higher premiums or even policy non-renewal. Your car insurance is meant to be used in the event of the large, substantial claims.
Cheaper premiums using theft deterrents - Choosing a vehicle that has a built-in theft deterrent system can help bring down rates. Anti-theft devices such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems can thwart car theft and help bring rates down.
City dwellers may pay more - Having an address in areas with lower population is a positive aspect if you are looking for the lowest rates. Drivers who live in large cities tend to have traffic congestion and longer commute times. Fewer people means reduced accidents and also fewer theft and vandalism claims.
The higher your credit history the lower your premiums - Credit rating factor in determining what you pay for insurance. People with high credit scores tend to file fewer claims as compared to drivers with lower credit ratings. If your credit could use some work, you could save money insuring your Chevrolet Traverse by spending a little time repairing your credit.
Youthful drivers cost more - Beginning drivers in Texas are proven to be inattentive with other occupants in the car therefore insurance rates are much higher. Older people have been proven to be more responsible, cost insurance companies less in claims, and are safer drivers.
The data below is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.
Gender and auto insurance costs - Over time, data shows women tend to be less risk to insure than men. Now that doesn't mean men are WORSE drivers than women. Both genders get in at-fault accidents at a similar rate, but males get into accidents with more damage. Not only are claims higher, but men receive more major tickets like DUI and reckless driving. Male teenagers are most likely to cause an accident so they pay the highest premiums.
The diagram below illustrates the comparison of Chevy Traverse premium costs for male and female drivers. The data assumes a clean driving record, no at-fault accidents, comprehensive and collision coverage, $500 deductibles, single marital status, and no other discounts are factored in.
Pay less with a high crash test rating - Cars with high safety ratings can get you lower premiums. The safest vehicles protect occupants better and lower injury rates means less claims paid and lower rates for you. If your Chevy Traverse has at least an "acceptable" rating on the Insurance Institute for Highway Safety website you may be receiving a better rate.
Insurance losses for a Chevy Traverse - Companies analyze past claim statistics as a way to help calculate a profitable premium rate. Models that the data determines to have increased losses will have a higher cost to insure. The table below outlines the insurance loss data for Chevy Traverse vehicles.
For each type of coverage, the statistical loss for all vehicles, as an average, is equal to 100. Numbers shown that are under 100 imply a favorable loss record, while values that are above 100 indicate frequent claims or tendency to have higher losses.
|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|
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
How to get Plano Chevy Traverse insurance quotes
When looking for low cost Plano auto insurance quotes, there are a couple ways to compare prices from local Plano car insurance companies. The simplest method to find the lowest Chevy Traverse rates is to jump online and get quotes. Keep in mind that getting more free quotes provides better odds of finding better pricing.
The companies shown below have been selected to offer free rate quotes in Texas. If you want the best car insurance in Texas, it's highly recommended you click on several of them to get the best price comparison.
Data for Chevy Traverse insurance
The premium information displayed next covers different insurance policy prices for Chevy Traverse models. Understanding how policy rates are figured can be useful when making smart choices when buying a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Traverse LS 2WD||$156||$252||$366||$22||$110||$906||$76|
|Traverse LS AWD||$176||$252||$366||$22||$110||$926||$77|
|Traverse LT 2WD||$176||$252||$366||$22||$110||$926||$77|
|Traverse LT AWD||$176||$306||$366||$22||$110||$980||$82|
|Traverse LTZ 2WD||$176||$306||$366||$22||$110||$980||$82|
|Traverse LTZ AWD||$176||$306||$366||$22||$110||$980||$82|
|Get Your Own Custom Quote Go|
Prices above 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, homeowner, multi-policy, and claim-free. Price estimates do not factor in the specific area where the vehicle is garaged which can modify premium rates greatly.
Impact of violations and accidents on rates
The information below demonstrates how citations and at-fault collisions influence Chevy Traverse annual premium costs for different age groups. The rates are based on a single male driver, comp and collision included, $1,000 deductibles, and no discounts are applied to the premium.
Chevrolet Traverse liability-only versus full coverage
The example below visualizes the comparison of Chevy Traverse insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Texas. The rates are based on no claims, a clean driving record, $250 deductibles, drivers are single, and no discounts are factored in.
Deciding between full coverage and liability only
There is no specific rule of when to eliminate comprehensive and collision coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is 10% or more of replacement cost minus your deductible, then it may be the right time to buy liability only.
For example, let's say your Chevy Traverse replacement value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $6,000 after you pay the deductible. If you are paying over $600 a year for your policy with full coverage, then it's probably a good time to buy liability coverage only.
There are some conditions where removing full coverage is not financially feasible. If you have an outstanding loan on your vehicle, you have to keep full coverage to protect the lienholder's interest in the vehicle. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should keep full coverage on your policy.
Three reasons to not skimp on auto insurance
Even though it's not necessarily cheap to insure a Chevy in Plano, buying auto insurance is a good idea for several reasons.
- Just about all states have mandatory liability insurance requirements which means you are required to carry a specific level of liability protection if you want to drive legally. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your Chevy Traverse has a loan, most banks will make it a condition of the loan that you have physical damage coverage to guarantee loan repayment. If coverage lapses or is canceled, the lender may have to buy a policy to insure your Chevy at a significantly higher premium and require you to pay for the much more expensive policy.
- Auto insurance protects both your assets and your Chevy Traverse. It will also cover many types of medical costs for you, your passengers, and anyone else injured in an accident. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if anyone sues you for causing an accident. If damage is caused by hail or an accident, your policy will pay to have it repaired.
The benefits of buying auto insurance are definitely more than the cost, especially for larger claims. According to a survey of 1,000 drivers, the average driver overpays more than $855 a year so it's important to compare rates at every policy renewal to ensure rates are competitive.
Save money with discounts
Car insurance is not inexpensive, but there could be significant discounts to help bring down the price. Many of these discounts will be applied automatically when you purchase, but a few need to be asked about before being credited.
- Save over 55 - Older drivers may qualify for a small decrease in premiums.
- Driver Education Discount - It's a good idea to have your young drivers complete a driver education course as it will make them better drivers and lower rates.
- Clubs and Organizations - Joining certain professional organizations may earn a discount on car insurance.
- Discount for Passive Restraints - Factory options such as air bags or automatic seat belts may get savings as much as 30%.
- Seat Belts Save more than Lives - Using a seat belt and requiring all passengers to buckle their seat belts can save up to 10 percent (depending on the company) off the PIP or medical payment premium.
- Payment Method - By making one initial payment rather than spreading payments over time you can actually save on your bill.
Don't be shocked that some of the credits will not apply to all coverage premiums. Most only cut the cost of specific coverages such as comprehensive or collision. So despite the fact that it appears adding up those discounts means a free policy, it's just not the way it works. But all discounts should definitely cut the amount you have to pay.
The illustration below illustrates the difference between Chevy Traverse insurance rates with and without discounts being applied to the rates. The premium estimates are based on a male driver, no accidents, no driving violations, Texas state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-policy, multi-car, homeowner, safe-driver, and marriage discounts applied.
A few companies that may offer these money-saving discounts include:
If you want affordable Plano auto insurance quotes, ask every insurance company which credits you are entitled to. Some of the discounts discussed earlier may not apply in every state. To find insurers who offer free Chevy Traverse insurance quotes in Texas, follow this link.
Insurance agencies near you
Many drivers just want to go talk to an agent and doing so can bring peace of mind A nice benefit of comparing car insurance online is that you can find lower auto insurance rates but also keep your business local. And buying from neighborhood insurance agencies is still important in Plano.
To find an agent, once you fill out this form (opens in new window), your coverage information is immediately sent to insurance agents in Plano that can provide free Plano auto insurance quotes for your business. It makes it easy because there is no need to find an agent due to the fact that quote results will go to your email. You can find better rates and a licensed agent to talk to. If you need to get a rate quote from a particular provider, don't hesitate to search and find their rate quote page to submit a rate quote request.
Finding a good insurance company needs to be determined by more than just a low price. Any agent in Plano should be forthright in answering these questions:
- Do they get extra compensation for selling add-on coverages?
- If your car is totaled, how to they determine the replacement cost?
- Will you get a loaner vehicle if you car is being repaired?
- Are they primarily personal or commercial lines agents in Plano?
- What is the agency's Better Business Bureau rating?
- Which members of your family are coverage by the policy?
When to get professional advice
When it comes to choosing the best auto insurance coverage for your personal vehicles, there really is no "best" method to buy coverage. Your financial needs are unique.
For example, these questions might point out whether your personal situation might need an agent's assistance.
- Can I still get insurance after a DUI?
- When should I not buy collision coverage?
- Who sells insurance for high-risk drivers?
- I have good health insurance, so how much medical payments coverage do I need?
- I don't drive much so do I pay less?
- Is my Chevy Traverse covered for flood damage?
- What states are considered no-fault?
- Is a new car covered when I drive it off the dealer lot?
If you don't know the answers to these questions but you think they might apply to your situation, you might consider talking to a licensed agent. To find an agent in your area, take a second and complete this form.
Affordable car insurance rates are out there
There are still a few companies who don't offer rates over the internet and many times these smaller companies only sell coverage through independent agents. Lower-priced car insurance in Plano is possible online in addition to many Plano insurance agents, so you should be comparing quotes from both to get a complete price analysis.
Insureds change insurance companies for many reasons like policy cancellation, high rates after DUI convictions, delays in paying claims and even questionable increases in premium. It doesn't matter why you want to switch finding the right car insurance provider can be easier than you think.
When buying insurance coverage, you should never reduce needed coverages to save money. Too many times, an accident victim reduced full coverage only to regret that the few dollars in savings costed them thousands. Your goal is to buy the best coverage you can find for the lowest price and still be able to protect your assets.
Steps to buying discount Chevy Traverse insurance in Plano
The preferred way to get the cheapest car insurance rates is to start comparing prices yearly from providers who can sell car insurance in Plano. You can compare prices by completing these steps.
- First, gain an understanding of how insurance companies determine prices and the things you can change to prevent rate increases. Many rating criteria that drive up the price such as speeding and poor credit history can be amended by paying attention to minor details.
- Second, request rate estimates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from one company like Progressive or Allstate, while independent agents can provide price quotes from multiple insurance companies.
- Third, compare the price quotes to your existing policy to see if switching to a new carrier will save money. If you find a better price and make a switch, ensure coverage does not lapse between policies.
- Fourth, give notification to your agent or company to cancel your current car insurance policy. Submit a down payment along with a completed application to your new company or agent. Once received, place your new proof of insurance certificate in a readily accessible location in your vehicle.
An important bit of advice to remember is to try to compare identical coverages on every price quote and and to get price estimates from as many companies as you can. This helps ensure a fair rate comparison and a thorough selection of prices.
Additional detailed information can be read in the articles below:
- Auto Insurance Learning Center (State Farm)
- What is the Best Cheap Car Insurance in Plano, Texas? (FAQ)
- What Insurance is Cheapest for a 20 Year Old Female in Plano? (FAQ)
- What Car Insurance is Cheapest for Drivers Requiring a SR22 in Plano? (FAQ)
- How Much are Auto Insurance Quotes for a Ford Explorer in Plano? (FAQ)
- Safety Belts FAQ (iihs.org)
- Understanding Your Insurance Deductible (Insurance Information Institute)
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- Determining Auto Insurance Rates (GEICO)