2016 Chevrolet Malibu Insurance Quotes – 8 Policy Discounts

Expensive insurance coverage can bottom out your budget and put the squeeze on your family’s finances.

Consumers have multiple car insurance companies to purchase coverage from, and though it is a good thing to have a choice, more choices can make it harder to compare rates.

This article will help you learn how car insurance quotes work and some tricks to saving. If you have car insurance now, you will most likely be able to save some money using these tips. But drivers do need to understand how the larger insurance companies sell online and use this information to your advantage.

Take these eight policy discounts and save

Insurance can be prohibitively expensive, but you might be missing out on some discounts that could help you make your next renewal payment. Many of these discounts will be applied automatically at the time of purchase, but a few must be specially asked for before you will receive the discount.

  • Theft Prevention Discount – Vehicles that have factory alarm systems and tracking devices can help prevent theft and that can save you a little bit as well.
  • Pay Now and Pay Less – If you can afford to pay the entire bill rather than paying in monthly installments you could save 5% or more.
  • Fewer Miles Equal More Savings – Keeping the miles down on your Chevy can earn lower premium rates on the low mileage vehicles.
  • Discounts for Multiple Vehicles – Buying insurance for primary and secondary vehicles on a single policy can reduce the rates for all insured vehicles.
  • Telematics Discount – Insureds that choose to allow companies to monitor driving habits remotely such as In-Drive from State Farm or Allstate’s Drivewise system could possibly reduce rates if their driving habits are good.
  • Accident-Free Discounts – Insureds with no claims or accidents have much lower rates compared to drivers who are more careless.
  • Defensive Driver – Participating in a course teaching defensive driver skills may get you a small discount if you qualify.
  • Accident Forgiveness Coverage – Not necessarily a discount, but companies like Geico and Liberty Mutual permit an accident before raising your premiums so long as you are claim-free prior to being involved in the accident.

Keep in mind that most discounts do not apply to the entire cost. The majority will only reduce the price of certain insurance coverages like liability and collision coverage. So even though they make it sound like you would end up receiving a 100% discount, companies wouldn’t make money that way.

The best insurance companies and their possible discounts are detailed below.

  • Geico may offer discounts for seat belt use, military active duty, emergency military deployment, federal employee, five-year accident-free, and multi-vehicle.
  • Mercury Insurance offers premium reductions for location of vehicle, ease of repair, annual mileage, good student, low natural disaster claims, and type of vehicle.
  • Farmers Insurance offers discounts for homeowner, alternative fuel, multi-car, bundle discounts, youthful driver, switch companies, and good student.
  • Auto-Owners Insurance may include discounts for paid in full, multi-policy, safe driver, student away at school, and paperless.
  • Liberty Mutual policyholders can earn discounts including new move discount, good student, newly retired, newly married, new vehicle discount, hybrid vehicle, and safety features.
  • SAFECO offers discounts including anti-lock brakes, homeowner, multi-car, anti-theft, teen safety rewards, and teen safe driver.
  • Progressive has savings for online quote discount, homeowner, good student, multi-vehicle, and online signing.
  • USAA includes discounts for driver training, multi-vehicle, annual mileage, family discount, and vehicle storage.

Before buying, ask every insurance company the best way to save money. Some discounts listed above may not apply to policies in your area. For a list of insurance companies offering insurance discounts, follow this link.

First Step: Get free car insurance quotes

To find affordable auto insurance quotes, there are several ways to get quotes from many different insurance companies. The quickest method to find the cheapest Chevy Malibu insurance rates is simply to get online rate quotes. It is quite easy and can be accomplished in a couple minutes as outlined below.

  • One of the simplest ways to find the lowest comparison rates would be an industry-wide quote request form like this one (opens in new window). This style of form saves time by eliminating repetitive form submissions for every prospective company. Just one form gets insurance cost estimates from car insurance companies with the best prices.
  • A more difficult way to analyze rates is spending the time to visit the website for every company you want to comare to request a price quote. For sake of this example, let’s say you want to view quotes from Geico, Allstate and Liberty Mutual. In order to compare rates, you need to take the time to go to each site to input your insurance information, and that’s why the first method is more popular. For a handy list of car insurance company links in your area, click here.
  • The least efficient method of comparing rate quotes is actually driving to all the different insurance agencies. Shopping for car insurance online eliminates the middleman unless you require the trained advice of a licensed agent. Drivers can comparison shop your insurance online but buy from a local insurance agent.

Take whichever approach you prefer, but double check that you are using nearly identical coverage limits and deductibles for each quote you get. If the quotes have different liability limits then you won’t be able to make a fair comparison for your Chevy Malibu. Just a small difference in insurance coverages may result in large price differences. It’s important to know that making a lot of price comparisons gives you a better chance of getting the best rates.

Which policy gives me the best coverage?

When choosing proper insurance coverage, there is no one size fits all plan. Every insured’s situation is different so your insurance should reflect that For instance, these questions might point out if your situation might need professional guidance.

  • When would I need rental car insurance?
  • Do I have coverage when making deliveries for my home business?
  • How many claims can I have before being cancelled?
  • Does my insurance cover a custom paint job?
  • Is my babysitter covered when using my vehicle?
  • Do I have coverage if my license is suspended?
  • What is high-risk coverage and where do I buy it?

If you don’t know the answers to these questions but a few of them apply, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, take a second and complete this form or go to this page to view a list of companies.

Auto insurance coverage information

Learning about specific coverages of your policy aids in choosing the best coverages for your vehicles. The coverage terms in a policy can be confusing and coverage can change by endorsement. Shown next are the usual coverages found on the average insurance policy.

Protection from uninsured/underinsured drivers – This protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. Covered claims include injuries to you and your family and also any damage incurred to your Chevy Malibu.

Since a lot of drivers only carry the minimum required liability limits, their limits can quickly be used up. So UM/UIM coverage is very important. Normally the UM/UIM limits are similar to your liability insurance amounts.

Auto liability insurance – This provides protection from damages or injuries you inflict on other’s property or people by causing an accident. It protects you from claims by other people. Liability doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. As an example, you may have values of 25/50/25 which means a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and $25,000 of coverage for damaged propery. Occasionally you may see one limit called combined single limit (CSL) which limits claims to one amount without having the split limit caps.

Liability coverage protects against claims such as attorney fees, legal defense fees, emergency aid and repair costs for stationary objects. How much liability coverage do you need? That is a decision to put some thought into, but it’s cheap coverage so purchase higher limits if possible.

Collision – This coverage pays for damage to your Malibu resulting from colliding with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for claims such as sideswiping another vehicle, hitting a parking meter, backing into a parked car, colliding with a tree and colliding with another moving vehicle. Collision is rather expensive coverage, so consider dropping it from older vehicles. It’s also possible to raise the deductible to bring the cost down.

Comprehensive (Other than Collision) – This coverage covers damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims such as a tree branch falling on your vehicle, damage from flooding, hitting a bird and falling objects. The highest amount you can receive from a comprehensive claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Medical expense insurance – Med pay and PIP coverage provide coverage for immediate expenses such as pain medications, ambulance fees, funeral costs and prosthetic devices. They are often used to fill the gap from your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay

Make an honest buck

As you go through the steps to switch your coverage, don’t be tempted to sacrifice coverage to reduce premiums. There are a lot of situations where an insured dropped comprehensive coverage or liability limits only to find out they didn’t have enough coverage. Your goal should be to buy the best coverage you can find at the best price, but do not sacrifice coverage to save money.

Cheaper car insurance can be sourced on the web as well as from independent agents, so you should be comparing quotes from both in order to have the best chance of saving money. A few companies may not provide online quoting and these smaller providers sell through independent agencies.

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