How Much Does 2001 Chevrolet Malibu Insurance Cost?

Nobody I know likes having to buy insurance coverage, particularly when they are paying too much.

There are many insurance companies to buy insurance from, and although it’s nice to have a choice, it makes it harder to find the lowest cost provider.

Chevy Malibu rate determination is complex

It’s important that you understand the factors that play a part in calculating the price you pay for car insurance. Understanding what controls the rates you pay allows you to make educated decisions that will entitle you to better car insurance rates.

  • Do you have enough liability coverage? – Liability insurance is the coverage that protects you when you are found to be at fault for damages caused by your negligence. Liability insurance provides you with a defense in court starting from day one. Liability insurance is quite affordable compared to physical damage coverage, so do not cut corners here.
  • Safer cars are cheaper to insure – Vehicles with high crash test scores can get you lower premiums. Safer cars have better occupant injury protection and any reduction in injury severity translates into fewer and smaller insurance claims and thus lower rates. If your Chevy earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may be receiving lower rates.
  • Rural vs Urban Areas – Living in small towns and rural areas is a positive aspect when buying car insurance. Drivers in populated areas tend to have more traffic problems and a longer drive to work. Less people living in that area means fewer accidents and also fewer theft and vandalism claims.
  • Allowing your policy to lapse raises rates – Not having insurance is against the law and you will pay a penalty because you let your insurance lapse. Not only will you pay more, failure to provide proof of insurance may earn you a steep fine or even jail time.Then you may be required to provide proof of insurance in the form of an SR-22 filing with your state motor vehicle department to get your license reinstated.
  • Save money with special equipment – Choosing a vehicle with an alarm system can help bring down rates. Theft prevention devices like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can thwart your car from being stolen.
  • What are your deductibles? – Physical damage coverage, also known as collision and other-than-collision, protects your Chevy from damage. Some examples of claims that would be covered are collision with another vehicle, collision with an animal, and rolling your vehicle. The deductibles are the amount of money you are required to spend out-of-pocket in the event of a claim. The more expense the insured has to pay upfront, the lower your rates will be on Malibu coverage.

Insurance Prices Online

Comparing insurance rates can be a daunting task if you don’t know the most efficient way. You could spend your day discussing policy coverages with local insurance agents in your area, or you can stay home and use the internet to get rates in a matter of minutes.

Many companies belong to a marketplace where prospective buyers submit their information once, and at least one company then gives them pricing based on the submitted data. This system prevents you from having to do quote requests to every company.

To get comparison pricing now click here (opens in new window).

The one disadvantage to doing it this way is you don’t know exactly which insurance companies to get pricing from. If you wish to select from a list of companies to receive pricing from, we put together a list of insurance companies in your area. Click here for list of insurance companies.

Whichever way you use, compare apples-to-apples coverages and limits for every quote you compare. If you have different deductibles it’s not possible to make a fair comparison for your Chevy Malibu. Slightly different coverages can mean a large discrepancy in price. Just keep in mind that comparing a large number of companies provides better odds of finding a better price.

Drivers who switch save $469 a year? Really?

Auto insurance companies such as Geico, State Farm and Progressive consistently run ads in print and on television. They all seem to make an identical promise of big savings if you change to them. But how can every company claim to save you money?

All the different companies are able to cherry pick for the type of customer that is profitable for them. For example, a driver they prefer might be profiled as between 25 and 40, a clean driving record, and has excellent credit. Any new insured who fits that profile will get very good rates and as a result will probably save a lot of money.

Drivers who do not match the “perfect” profile will be quoted higher rates and this can result in the driver buying from a lower-cost company. The ads state “customers who switch” but not “drivers who get quotes” save money. That’s the way companies can make those claims. This emphasizes why you need to get quotes from several different companies. It’s not possible to predict which company will have the lowest Chevy Malibu insurance rates.

Be sure to get all your discounts

Companies offering auto insurance don’t always publicize every available discount in a way that’s easy to find, so we took the time to find both the well known and also the lesser-known discounts you could be receiving.

  • Driver’s Ed – Make teen driver coverage more affordable by requiring them to complete a driver education course in high school.
  • Safety Course Discount – Successfully completing a course teaching defensive driving skills can save you 5% or more depending on where you live.
  • Seat Belt Usage – Drivers who require all occupants to buckle their seat belts can save up to 15% off your medical payments premium.
  • Auto/Home Discount – When you have multiple policies with the same company you may save approximately 10% to 15%.
  • Braking Control Discount – Vehicles with anti-lock braking systems prevent accidents and earn discounts up to 10%.
  • Safe Drivers – Drivers who don’t get into accidents can get discounts for up to 45% lower rates on Malibu coverage than less cautious drivers.
  • Save with a New Car – Adding a new car to your policy can cost up to 25% less compared to insuring an older model.
  • College Student – Kids in college who live away from home and do not have a car can be insured at a reduced rate.

Consumers should know that some of the credits will not apply to all coverage premiums. Some only apply to the price of certain insurance coverages like medical payments or collision. So when the math indicates having all the discounts means you get insurance for free, companies don’t profit that way.

Insurance companies that possibly offer these discounts include:

It’s a good idea to ask all companies you are considering which discounts you may be entitled to. Discounts might not apply in your state.

How do I know if I need professional advice?

When it comes to choosing adequate coverage for your vehicles, there really is not a one size fits all plan. Every situation is different and your policy should reflect that. These are some specific questions might help in determining whether your personal situation would benefit from professional advice.

  • Am I covered when pulling a rental trailer?
  • What happens if I owe more than my 2001 Chevy Malibu is worth?
  • Do I need motorclub coverage?
  • Why do I only qualify for high-risk insurance?
  • Is my 2001 Chevy Malibu covered for flood damage?
  • If my 2001 Chevy Malibu is totaled, can I afford another vehicle?
  • How do I insure my teen driver?
  • What is PIP insurance?
  • Who is covered when they drive my 2001 Chevy Malibu?
  • Why does it cost so much to insure a teen driver?

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 insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area.

Specific coverage details

Having a good grasp of a insurance policy can be of help when determining the right coverages at the best deductibles and correct limits. Insurance terms can be confusing and coverage can change by endorsement. Shown next are typical coverage types found on most insurance policies.

Coverage for liability

Liability coverage will cover damages or injuries you inflict on a person or their property. This insurance protects YOU against other people’s claims, and does not provide coverage for your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have policy limits of 100/300/100 which means a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property.

Liability insurance covers things such as funeral expenses, repair costs for stationary objects, bail bonds and medical expenses. How much coverage you buy is your choice, but it’s cheap coverage so purchase higher limits if possible.

Medical payments coverage and PIP

Med pay and PIP coverage provide coverage for short-term medical expenses for chiropractic care, pain medications, doctor visits and surgery. They are used to fill the gap from your health insurance policy or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage

Comprehensive coverage

This coverage covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things such as falling objects, damage from a tornado or hurricane and a tree branch falling on your vehicle. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Uninsured/Underinsured Motorist coverage

This protects you and your vehicle’s occupants from other motorists when they either are underinsured or have no liability coverage at all. Covered claims include injuries to you and your family as well as your vehicle’s damage.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Collision coverage protection

This coverage will pay to fix damage to your Malibu resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.

Collision coverage pays for claims such as rolling your car, backing into a parked car, colliding with a tree, damaging your car on a curb and scraping a guard rail. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. Another option is to choose a higher deductible to bring the cost down.

Shop Smart and Save

Lower-priced 2001 Chevy Malibu insurance can be found online and also from your neighborhood agents, and you should compare price quotes from both to get a complete price analysis. A few companies may not provide online quoting and usually these regional insurance providers provide coverage only through local independent agents.

When you buy insurance online, never buy lower coverage limits just to save a few bucks. In many cases, an accident victim reduced liability coverage limits and found out when filing a claim they didn’t purchase enough coverage. The ultimate goal is to find the BEST coverage at a price you can afford, not the least amount of coverage.

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