2016 Chevrolet Equinox Insurance Rates – 7 Tips to Save
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UPDATED: Dec 6, 2021
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Searching for lower auto insurance rates for your Chevrolet Equinox? Locating low-cost insurance for a Chevy Equinox can normally be an all-consuming task, but you can learn our auto insurance buying tips to save time.
There are more efficient ways to find auto insurance online so you’re going to learn the best way to compare rates for your Chevy and obtain the lowest possible price from both online companies and local agents.
It’s smart to check auto insurance prices occasionally since rates go up and down regularly. Even if you got the best price on Equinox coverage two years ago other companies may now be cheaper. Forget all the misinformation about auto insurance because you’re about to find out one of the best ways to reduce your cost while improving coverage.
Verify you’re getting all your discounts
Insuring your fleet can be pricey, but there are discounts available that many people don’t even know exist. Some trigger automatically when you complete an application, but a few need to be requested specifically in order for you to get them. If you aren’t receiving every discount you qualify for, you’re paying more than you need to.
- Memberships – Being a member of a qualifying organization could trigger savings on insurance on Equinox coverage.
- Paperwork-free – A handful of insurance companies will give a small break for buying a policy and signing up on their website.
- Accident Free – Claim-free drivers pay less compared to bad drivers.
- Drive Safe and Save – Insureds without accidents may save up to 50% more on Equinox coverage than drivers with accidents.
- Payment Method – If you pay your entire premium ahead of time instead of making monthly payments you could save 5% or more.
- Passive Restraint Discount – Cars that have air bags or automatic seat belts may earn rate discounts of more than 20%.
- Accident Forgiveness – Certain companies will forgive one accident without raising rates if you are claim-free for a particular time prior to the accident.
Consumers should know that most credits do not apply to the entire cost. Most only cut the price of certain insurance coverages like liability, collision or medical payments. Just because it seems like it’s possible to get free car insurance, you won’t be that lucky. Any amount of discount will reduce the cost of coverage.
For a list of companies with the best insurance discounts, click this link.
When should I talk to an agent?
When it comes to buying coverage, there really is no single plan that fits everyone. Everyone’s situation is unique.
Here are some questions about coverages that may help you determine if your situation may require specific advice.
- What companies insure drivers after a DUI or DWI?
- How can I find cheaper teen driver insurance?
- Is my dog or cat covered if injured in an accident?
- Will my vehicle be repaired with OEM or aftermarket parts?
- What should my uninsured motorist coverage limits be in my state?
- Are my friends covered when driving my car?
If you’re not sure about those questions but you think they might apply to your situation, you might consider talking to a licensed agent. If you want to speak to an agent in your area, complete this form. It’s fast, doesn’t cost anything and can help protect your family.
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Misconceptions in car insurance advertisements
Consumers get pounded daily by advertisements for car insurance savings from the likes of Progressive, Allstate and GEICO. They all make the same claim that you can save if you switch your coverage to them.
How can each company make almost identical claims?
Insurance companies have a preferred profile for the type of customer that is profitable for them. For instance, a desirable insured could be between 30 and 50, a clean driving record, and has a high credit rating. A customer who meets those qualifications will qualify for the lowest rates and is almost guaranteed to save when switching.
Potential customers who fall outside these standards must pay higher rates which leads to the customer not buying. The ads say “people who switch” but not “drivers who get quotes” save that much money. This is how insurance companies can advertise the savings.
This illustrates why it’s extremely important to quote coverage with many companies. Because you never know which car insurance company will fit your personal profile best.
Car insurance coverage information
Having a good grasp of a insurance policy can help you determine the best coverages and the correct deductibles and limits. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording.
Uninsured/Underinsured Motorist coverage
This protects you and your vehicle from other drivers when they are uninsured or don’t have enough coverage. Covered losses include medical payments for you and your occupants and damage to your 2016 Chevy Equinox.
Due to the fact that many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea. Frequently your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.
Comprehensive insurance covers damage from a wide range of events other than collision. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive can pay for claims such as hitting a bird, a tree branch falling on your vehicle, hail damage, fire damage and rock chips in glass. The highest amount you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.
Coverage for collisions
This coverage pays for damage to your Equinox caused by collision with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for things like rolling your car, scraping a guard rail and hitting a mailbox. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. It’s also possible to choose a higher deductible in order to get cheaper collision rates.
Auto liability insurance
This coverage will cover injuries or damage you cause to other’s property or people that is your fault. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show values of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged property. Another option is one number which is a combined single limit which combines the three limits into one amount rather than limiting it on a per person basis.
Liability coverage pays for claims such as structural damage, repair costs for stationary objects and medical expenses. How much coverage you buy is up to you, but you should buy as high a limit as you can afford.
Medical payments coverage and PIP
Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills such as surgery, nursing services and doctor visits. They are often utilized in addition to your health insurance plan or if there is no health insurance coverage. It covers both the driver and occupants as well as being hit by a car walking across the street. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay
Buy Smart and Save
Drivers who switch companies do it for any number of reasons including policy non-renewal, delays in responding to claim requests, questionable increases in premium and even being labeled a high risk driver. Regardless of your reason, finding a great new company can be less work than you think.
As you shop your coverage around, never buy poor coverage just to save money. Too many times, an insured dropped liability coverage limits and found out when filing a claim that their decision to reduce coverage ended up costing them more. Your focus should be to purchase a proper amount of coverage at a price you can afford.
In this article, we covered a lot of information how to get a better price on 2016 Chevy Equinox insurance. The key thing to remember is the more rate quotes you have, the better likelihood of reducing your rate. You may even find the best prices are with the least-expected company.
Even more information is available in these articles:
- Distracted Driving (Insurance Information Insitute)
- Who Has Cheap Auto Insurance Rates for a Chevrolet Equinox in Fresno? (InsureFresno.com)
- Uninsured Motorists: Threats on the Road (Insurance Information Insitute)
- Side Impact Crash Tests (iihs.org)
- Collision Insurance Coverage (Nationwide)
- If I File a Claim will My Insurance Go Up? (Insurance Information Insitute)
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