Cheapest 2002 Chevrolet Suburban Insurance Rates in 2023
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UPDATED: Jun 2, 2023
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Trying to find cheaper insurance coverage rates for your Chevrolet Suburban? No one looks forward to buying insurance coverage, in particular when they are paying too much.
Big-name insurance companies like Allstate, Liberty Mutual and State Farm constantly bombard you with ads and it is difficult to separate fact from fiction and effectively compare rates to find the best deal.
Smart consumers take time to get comparison quotes occasionally because insurance rates are usually higher with each renewal. Just because you found the lowest rates on Suburban coverage a year ago a different company probably has better rates today. Forget all the misinformation about insurance coverage because I’m going to let you in on the secrets to the things you must know in order to find great coverage at a great price.
Factors determining your Chevy Suburban insurance premium
Smart consumers have a good feel for the factors that play a part in calculating auto insurance rates. Knowing what determines base rates allows you to make educated decisions that will entitle you to big savings.
- Do men or women drive better? – Statistics have proven women are more cautious behind the wheel. That doesn’t necessarily mean that women are BETTER drivers than men. Men and women have accidents in similar numbers, but men cause more damage. Men also get cited for more serious violations such as reckless driving. Teenage male drivers tend to get in the most accidents and therefore are the most expensive to insure.
- Pay less if you’re married – Getting married actually saves money on your auto insurance policy. Having a spouse usually means you are more mature and responsible and it’s statistically proven that being married results in fewer claims.
- Higher safety ratings means cheaper insurance – Vehicles with high crash test scores are cheaper to insure. The safest vehicles have better occupant injury protection and any reduction in injury severity means lower claim amounts passed on to you as lower rates. If your Chevy scored better than four stars on Safercar.gov or an “acceptable” rating on iihs.org you may qualify for a discount.
- Bundling policies can get discounts – Many insurance companies will give a discount to policyholders who carry more than one policy in the form of a multi-policy discount. Even though this discount sounds good, it’s in your best interest to compare rates to verify if the discount is saving money. You may still find better rates by buying insurance from more than one company.
- Lower rates with optional equipment – Purchasing a vehicle with an alarm system can save you a little every year. Anti-theft features like GM’s OnStar, tamper alarm systems and vehicle immobilizers all aid in stopping your car from being stolen.
- Lower miles equals lower premium – Driving more miles every year the higher your rate. Most companies price each vehicle’s coverage based on their usage. Cars and trucks that are left in the garage can get a lower rate than those used for commuting. Verify your auto insurance coverage is showing the proper vehicle usage, because it can save money. If your policy improperly rates your Suburban may be costing you.
Car Insurance Comparisons
The are a couple different ways of comparing rate quotes from car insurance companies in your area. The easiest way to compare 2002 Chevy Suburban insurance prices consists of obtaining rate quotes online. It is quite easy and can be accomplished using a couple different methods.
- The recommended way to get the best comparison quotes is a comparison rater form click to view form in new window. This form saves time by eliminating boring form submissions for each company. Filling out one form will get you price quotes from multiple low-cost companies.
- A slightly less efficient method to compare rate quotes requires you to visit the website of each company to complete their respective quote request forms. For example, we’ll assume you want to compare rates from Farmers, Progressive and State Farm. To find out each rate you need to visit each site to enter your coverage information, which is why the first method is quicker.For a list of links to insurance companies in your area, click here.
Whichever method you choose, make absolute certain that you use identical quote information on every quote. If you are comparing different liability limits it will be very difficult to make a fair comparison for your Chevy Suburban. Slightly different coverage limits may cause a big price difference. And when price shopping your coverage, having more price comparisons gives you a better chance of getting better pricing.
Save money by taking advantage of these discounts
Car insurance companies don’t always advertise all their discounts very clearly, so we took the time to find some of the best known and the harder-to-find savings tricks you should be using.
- No Claims – Claim-free drivers can save substantially as compared to frequent claim filers.
- 55 and Retired – Older drivers may qualify for a discount up to 10% on Suburban coverage.
- Good Students Pay Less – This discount can earn a discount of 20% or more. The discount lasts up until you turn 25.
- More Vehicles More Savings – Buying coverage for multiple cars or trucks on one policy may reduce the rate for each vehicle.
- Military Rewards – Being on active duty in the military may qualify for rate reductions.
- Own a Home – Owning a house may trigger a insurance coverage policy discount because maintaining a house shows financial diligence.
- Drivers Education – Make teen driver coverage more affordable by requiring them to successfully complete driver’s ed class in high school.
It’s important to note that many deductions do not apply to the entire cost. The majority will only reduce the cost of specific coverages such as comp or med pay. So despite the fact that it appears you would end up receiving a 100% discount, companies wouldn’t make money that way.
A partial list of companies that may offer these money-saving discounts include:
Before buying, ask all companies you are considering which discounts they offer. Discounts may not be available in your state.
When should I use an insurance agent?
When buying proper insurance coverage, there isn’t really a perfect coverage plan. Everyone’s situation is unique so your insurance should reflect that Here are some questions about coverages that can aid in determining if your insurance needs would benefit from professional advice.
- When can I cancel my policy?
- Exactly who is provided coverage by my policy?
- If my 2002 Chevy Suburban is totaled, can I afford another vehicle?
- Does coverage extend to my business vehicle?
- I don’t drive much so do I pay less?
- What is the rate difference between pleasure use and commuting?
- Will my rates increase for filing one claim?
- How can I get my company to pay me more for my totalled car?
- Do I need rental car coverage?
- Does my medical payments coverage pay my health insurance deductible?
If you don’t know the answers to these questions but one or more may apply to you, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, take a second and complete this form or you can also visit this page to select a carrier
Coverages available on your car insurance policy
Understanding the coverages of your policy can help you determine appropriate coverage for your vehicles. The coverage terms in a policy can be confusing and coverage can change by endorsement. Listed below are the normal coverages offered by car insurance companies.
Comprehensive car insurance
Comprehensive insurance covers damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive coverage pays for claims like rock chips in glass, hitting a deer, damage from getting keyed and a tree branch falling on your vehicle. The maximum payout a car insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.
Coverage for medical expenses
Med pay and PIP coverage pay for immediate expenses for dental work, chiropractic care and nursing services. They are used to cover expenses not covered by your health insurance policy or if you do not have health coverage. Coverage applies to you and your occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage
This will cover damage or injury you incur to people or other property in an accident. This coverage protects you against claims from other people. Liability doesn’t cover damage to your own property or vehicle.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show liability limits of 25/50/25 which stand for a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property.
Liability insurance covers claims like attorney fees, structural damage, loss of income, medical expenses and funeral expenses. How much liability should you purchase? That is a decision to put some thought into, but you should buy as large an amount as possible.
Coverage for uninsured or underinsured drivers
Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they do not carry enough liability coverage. This coverage pays for hospital bills for your injuries as well as damage to your 2002 Chevy Suburban.
Because many people only purchase the least amount of liability that is required, their limits can quickly be used up. This is the reason having UM/UIM coverage is important protection for you and your family.
Collision coverage covers damage to your Suburban from colliding with an object or car. You first must pay a deductible and then insurance will cover the remainder.
Collision coverage protects against things such as hitting a parking meter, scraping a guard rail, colliding with another moving vehicle, damaging your car on a curb and driving through your garage door. This coverage can be expensive, so you might think about dropping it from lower value vehicles. Drivers also have the option to choose a higher deductible to get cheaper collision coverage.
Stretch your dollar
The cheapest 2002 Chevy Suburban insurance can be bought online as well as from independent agents, and you should compare price quotes from both to have the best rate selection. A few companies don’t offer online quoting and these small insurance companies work with independent agents.
When you buy insurance online, make sure you don’t buy lower coverage limits just to save a few bucks. There are a lot of situations where someone sacrificed full coverage to discover at claim time that the few dollars in savings costed them thousands. The ultimate goal is to purchase a proper amount of coverage for the lowest price, not the least amount of coverage.
Additional information can be read at the links below
- Choosing a Car for Your Teen (State Farm)
- Red Light Cameras (State Farm)
- Get the Right Protection (InsureUonline.org)
- Side Impact Crash Tests (iihs.org)
Frequently Asked Questions
What is comprehensive car insurance coverage?
Comprehensive insurance covers damage to your Chevy Suburban that is not caused by a collision, such as theft, vandalism, or natural disasters. You will need to pay a deductible, and the insurance company will cover the remaining repair or replacement costs.
What is liability coverage?
Liability coverage pays for damages and injuries you cause to others in an accident. It includes bodily injury liability, which covers medical expenses and lost wages, and property damage liability, which covers repairs or replacement of damaged property.
Should I carry uninsured or underinsured motorist coverage?
Uninsured or underinsured motorist coverage protects you if you’re involved in an accident with a driver who doesn’t have insurance or doesn’t have enough insurance to cover your damages. It can help pay for medical expenses and property damage.
What is collision coverage?
Collision coverage pays for repairs or replacement of your Chevy Suburban if it’s damaged in a collision with another vehicle or object, regardless of who is at fault. You will need to pay a deductible, and the insurance company will cover the remaining costs.
What should I do if my 2002 Chevy Suburban is totaled?
If your vehicle is deemed a total loss, meaning the cost to repair it exceeds its value, you will typically receive a payout from the insurance company for the actual cash value of your vehicle. You can use this money to purchase a replacement vehicle.
Do I need rental car coverage?
Rental car coverage is optional but can be beneficial if you rely on your vehicle and need a temporary replacement while it’s being repaired after an accident. It provides coverage for the cost of renting a vehicle during the repair process.
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