2020 Chevrolet Malibu Insurance Rates
Enter your zip code below to view companies that have cheap auto insurance rates.
UPDATED: Apr 9, 2020
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Average insurance rates for a 2020 Chevrolet Malibu are $1,366 a year for full coverage. Comprehensive insurance costs on average $306, collision costs $512, and liability costs $390. Buying a liability-only policy costs as little as $452 a year, with high-risk insurance costing $2,940 or more. Teenage drivers receive the highest rates at $5,052 a year or more.
Annual premium for full coverage: $1,366
Rate estimates for 2020 Chevrolet Malibu Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 2020 Chevrolet Malibu models. Rates are based on a 40-year-old male driver, $500 comprehensive and collision deductibles, and a clean driving record. Remaining premium consists of UM/UIM coverage, Medical/PIP, and policy fees.
Price Range by Coverage and Risk
For a 40-year-old driver, prices range go from as low as $452 for just liability insurance to the much higher price of $2,940 for high-risk insurance.
These differences show why everyone should compare rates based on a specific location and risk profile, instead of using average rates.
Use the form below to get rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
Recommended Companies for Cheap 2020 Chevrolet Malibu Insurance
Searching for cheaper insurance coverage rates for your Chevrolet Malibu? If you are new to online insurance coverage, you may be confused thanks to the vast number of online companies who claim to have the best insurance coverage rates.
Are you qualifying for every discount?
The price of auto insurance can be rather high, but there could be significant discounts that could help you make your next renewal payment. Some trigger automatically when you quote, but a few must be specifically requested before they will apply. If you aren’t receiving every discount available, you’re just leaving money on the table.
- Anti-theft System – Cars equipped with anti-theft or alarm systems are stolen less frequently and earn discounts up to 10% off your insurance coverage quote.
- Driver Education Discount – Cut your cost by having your teen driver successfully complete driver’s ed class as it can save substantially.
- Save with More Vehicles Insured – Buying a policy with multiple vehicles on one policy may reduce the rate for each vehicle.
- Discount for Passive Restraints – Vehicles equipped with air bags and/or automatic seat belt systems could see savings of more than 20%.
- Renewal Discounts – A few companies offer discounts for buying a policy before your current coverage expires. You may see this discount when you get insurance coverage quotes online.
- Savings for New Vehicles – Adding a new car to your policy can cost up to 25% less since new vehicles are generally safer.
- Government Employees – Active or retired federal employment can save as much as 8% on Malibu coverage depending on your insurance coverage provider.
Remember that most credits do not apply to the entire policy premium. Most only cut individual premiums such as liability, collision or medical payments. So even though it sounds like all those discounts means the company will pay you, you won’t be that lucky. But all discounts will help lower the amount you pay for coverage.
A list of insurance coverage companies and a partial list of their discounts can be read below.
- Farm Bureau offers discounts including youthful driver, safe driver, multi-policy, good student, 55 and retired, and renewal discount.
- State Farm may offer discounts for safe vehicle, Steer Clear safe driver discount, driver’s education, Drive Safe & Save, good student, multiple policy, and accident-free.
- Progressive offers premium reductions for homeowner, online signing, good student, continuous coverage, multi-policy, and online quote discount.
- Allstate may include discounts for auto/life discount, teenSMART discount, FullPay discount, farm vehicle, multi-policy, and defensive driver.
- Nationwide may have discounts that include anti-theft, defensive driving, easy pay, Farm Bureau membership, multi-policy, family plan, and accident-free.
- MetLife includes discounts for defensive driver, accident-free, claim-free, good driver, multi-policy, good student
If you need cheap insurance coverage quotes, ask each company which credits you are entitled to. Some discounts listed above may not apply to policyholders everywhere. To choose companies with discount rates, enter your zip code here.
Which insurance coverage is cheapest?
Most of the larger companies make it easy to get prices for coverage on their websites. Getting prices online is pretty easy as you simply enter into a form. When the form is submitted, their system orders reports for credit and driving violations and returns a price quote.
Being able to quote online helps simplify price comparisons, but the process of having to visit many different websites and type in the same information can be a bit repetitive. But it’s necessary to have as many quotes as possible in order to find a better rate.
The quickest way to compare insurance coverage pricing is to use a quote form that gets price quotes from a lot of companies. The form is fast, requires less work, and makes quoting online much easier. As soon as the form is sent, it is rated with multiple companies and you can pick any or none of the quote results.
If the quotes result in lower rates, you can simply submit the application and buy the policy. The whole process takes just a few minutes to complete and may result in a nice savings.
To find out if lower rates are available, simply enter your zip code here and submit the form. To compare your current rates, we recommend you duplicate the insurance coverages exactly as they are listed on your policy. This way, you’re receiving comparison quotes for the exact same coverage.
Smart consumers can cut their insurance prices
Many factors are part of the equation when you quote your car insurance policy. Some of the criteria are obvious such as your driving history, but others are not quite as obvious such as your marital status or how financially stable you are.
- Insure car and home with the same company – Lots of insurers will award lower prices to customers who buy several policies from them, otherwise known as a multi-policy discount. Even if you already get this discount, it’s always a smart idea to compare other insurance prices to guarantee you are still saving the most. You may still save money by buying from different companies
- Prices impacted by your city – Having an address in less populated areas of the country can be a good thing when shopping for auto insurance. City drivers have much more traffic and higher rates of accident claims. Lower population means reduced accidents in addition to lower liability claims
- Younger drivers pay high rates – Drivers with little experience have been known to be careless and easily distracted when driving with friends so they pay higher car insurance rates. Older, more experienced drivers tend to be more responsible, are lower risk to insure , and usually have better credit.
- Don’t buy extra policy coverages that aren’t used – Insurance policies have a lot of extra add-on coverages that you can get tricked into buying when buying car insurance. Insurance for personal injury protection, towing, and extra life insurance coverage are some examples. These coverages may sound good when you first buy your policy, but if you have no use for them consider taking them off your policy.
- Stay claim-free and save money – If you are a frequent claim filer, you shouldn’t be surprised to get higher rates. Car insurance companies provide most affordable rates to policyholders who file claims infrequently. Auto insurance is designed for larger claims.
- Prices for men may be higher – Statistics have proven that women are safer drivers than men. However, don’t assume that women are better drivers. Females and males tend to get into accidents at about the same rate, but males have costlier accidents. Not only are claims higher, but men receive more costly citations such as reckless driving. Young males are the most expensive to insure and therefore pay the highest rates.
- Credit rating impact car insurance costs – A driver’s credit history can be an important factor in calculating your car insurance rates. People that have good credit tend to file fewer claims as compared to drivers with poor credit scores. If your credit score is lower than you’d like, you could be paying less to insure your 2020 Chevrolet Malibu if you clean up your credit.
When in doubt talk to an agent
When it comes to buying coverage for your personal vehicles, there really is no one size fits all plan. Each situation is unique.
For example, these questions may help you determine whether or not you would benefit from an agent’s advice.
- What is an SR-22 filing?
- Does my 2020 Chevy Malibu need full coverage?
- Should I carry comprehensive and collision coverage?
- Do I need replacement cost coverage on my 2020 Chevy Malibu?
- Are there companies who specialize in insuring high-risk drivers?
- Is my dog or cat covered if injured in an accident?
- How much liability coverage do I need in my state?
- Am I covered if I wreck a rental car?
- Where can I find DUI or SR-22 insurance?
- I don’t drive much so do I pay less?
If you’re not sure about those questions, you may need to chat with a licensed agent. To find an agent in your area, fill out your zip code.
Auto insurance companies are expert advertisers
Companies like Allstate, GEICO and Progressive consistently run television and radio advertisements. They all seem to tend to make the same promise that drivers will save a bundle if you change your auto insurance policy to them. That’s great but how can every company give you a lower rate? Here is how they do it.
Auto insurance companies look for specific characteristics for the driver that will generate a profit. One example of a profitable insured might have to be between the ages of 30 and 45, has a clean driving record, and the vehicle is rated for pleasure use. Any new insured who matches those parameters gets the lowest car insurance rates and will probably pay quite a bit less when switching companies.
Drivers who do not match these standards may be forced to pay a higher premium and ends up with business not being written. If you pay attention, the ads say “customers that switch” not “all people who quote” can save as much as they claim. This is how companies can truthfully make those claims.
Different companies use different criteria so drivers must do a rate comparison at every renewal. It is impossible to predict which company will have the lowest rate quotes.
Detailed coverages of your insurance policy
Understanding the coverages of a insurance policy can be of help when determining which coverages you need and the correct deductibles and limits. The terms used in a policy can be ambiguous and coverage can change by endorsement.
Collision coverage – Collision coverage covers damage to your Malibu resulting from a collision with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for things like rolling your car, damaging your car on a curb, scraping a guard rail, hitting a mailbox and sideswiping another vehicle. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. Another option is to increase the deductible to save money on collision insurance.
Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage protects you and your vehicle when the “other guys” are uninsured or don’t have enough coverage. This coverage pays for 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, their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important. Most of the time these limits are similar to your liability insurance amounts.
Comprehensive insurance – This pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for claims like damage from flooding, fire damage, a broken windshield, falling objects and damage from a tornado or hurricane. The highest amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low consider dropping full coverage.
Liability coverage – This protects you from damage or injury you incur to a person or their property. It protects you against other people’s claims, and does not provide coverage for damage to your own property or vehicle.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see policy limits of 50/100/50 which stand for a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property. Another option is a combined single limit or CSL that pays claims from the same limit rather than limiting it on a per person basis.
Liability can pay for claims like emergency aid, attorney fees, funeral expenses, repair costs for stationary objects and medical services. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase higher limits if possible.
Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage pay for bills for doctor visits, X-ray expenses, pain medications, hospital visits and nursing services. They can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. It covers you and your occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage
Knowledge is power
Drivers who switch companies do it for any number of reasons including not issuing a premium refund, delays in responding to claim requests, lack of trust in their agent or an unsatisfactory settlement offer. Regardless of your reason for switching companies, switching companies is easier than you think.
We just covered quite a bit of information on how to reduce 2020 Chevy Malibu insurance rates online. The key thing to remember is the more rate comparisons you have, the better your chances of lowering your auto insurance rates. You may be surprised to find that the biggest savings come from the least-expected company.
When buying insurance coverage, never skimp on critical coverages to save a buck or two. There are a lot of situations where someone sacrificed comprehensive coverage or liability limits to discover at claim time they didn’t purchase enough coverage. The proper strategy is to buy the best coverage you can find at the best cost and still be able to protect your assets.
Additional car insurance information can be read below:
Rates by U.S. City
|New York City, NY||$2,157|
|Los Angeles, CA||$2,334|
Need a specific model?
Choose your model and trim below
Rates by Driver Age
Full coverage, $500 deductibles
Rates by Deductible
Full coverage, driver age 40
Rates by Liability Limit
Full coverage, driver age 40
Rates for High Risk Drivers
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
|5-yr Accident Free||$99|
|5-yr Claim Free||$87|
|Paid in Full/EFT||$62|
Discounts are estimated and may not be available from every company or in every state.