If you own a Chevrolet Malibu or if you are considering the purchase of this vehicle, you will want to find the best automobile insurance coverage at a competitive price. With so many different insurers available to choose from, it can sometimes be difficult to know just where to begin. Let’s start by taking a look at all of the different factors that can influence the cost of insuring a Chevy Malibu.
Full insurance coverage for your Malibu will normally include liability insurance, collision insurance, and comprehensive insurance coverage and will usually come with a monthly average payment that will be approximately $115.
Liability insurance is required in most states and includes coverage for bodily injury and property damage that you may cause to another vehicle while collision insurance will cover the cost to repair or replace your car due to damage from an accident. Comprehensive insurance will cover the expense to replace your car if it is stolen and will cover the repair costs due to damage from things such as hail or vandalism.
You can expect to pay around $46 per month if you only want basic, or liability, insurance coverage which is substantially less than many other vehicles.
However, there are several different factors that will have an impact on the price you will pay. The age of the driver or drivers, the age of the Chevy Malibu, your driving record, and where you live, will all contribute to and influence the insurance rate that will be available to you.
For example, someone who is a new driver or who has only been licensed for a few years will pay substantially more than an experienced driver who has a clean driving history with no violations. Drivers who are under 20-years-old can expect to pay $1,500 – $1,700 more per year than an experienced driver who is 30-years-old. This is especially true if the driver has traffic violations on their record. With a clean driving history, you can save between $550 -$600 per year.
Those who live in a large city, particularly one that has congested traffic, will also be charged higher insurance rates.
If you are insuring a new Chevy Malibu versus one that is several years old, you can expect to pay a higher insurance rate. The newer the vehicle the more it will cost to make repairs or to replace the vehicle, if necessary.
But, on the plus side, another item that influences your insurance rate is based on the safety rating of the car. Newer cars will generally come with features that raise their safety rating. These include but are not limited to, airbags, anti-lock brake systems, traction control, and daytime running lights.
One of the best ways to obtain affordable insurance is by getting quotes from different insurance companies. Determine which companies offer the most competitive rates but also offer discounts for safe driving records and take into consideration the safety rating of the Chevy Malibu. State Farm, GEICO, Progressive, Liberty Mutual, and Allstate are currently the top five insurance companies that offer competitive rates and discounts for the Chevy Malibu.