Compare Chevy Cobalt Insurance Rates in Indianapolis

How long has it been since you sat down and looked for more affordable Chevy Cobalt insurance in Indianapolis? Are you sick and tired of scraping nickels together to insure your Chevy every month? You have the same problem as many other consumers in Indiana.

Astonishing but true, about 70% of customers have remained with the same insurance company for at least four years, and nearly half have never compared rates to find lower-cost insurance. Indianapolis drivers could save approximately $700 a year just by comparing rates, but they just assume it’s a time-consuming process to go online and compare rates.

Online insurance companies like Allstate and Progressive continually bombard you with TV and radio ads and consumers find it hard to see through the deception and do the work needed to find the best deal.

It’s a good habit to compare rates every six months due to the fact that insurance rates fluctuate regularly. If you had the best deal on Chevy Cobalt insurance in Indianapolis two years ago the chances are good that you can find a lower price today. There is a lot of bad information regarding Cobalt insurance out there, but you can learn some proven techniques to save money.

If you’re already insured, you will most likely be able to get lower rates using the ideas you’re about to read. Finding affordable insurance coverage in Indianapolis is actually very simple if you learn how to start. Nevertheless, Indiana car owners must know how insurance companies determine premium rates because rates are impacted by many factors.

Chevy Cobalt insurance analysis

The premium information shown next showcases a range of insurance prices for Chevy Cobalt models. Having a good understanding how policy premiums are determined can assist in making smart choices when buying a car insurance policy.

Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Indiana minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Premium amounts do not factor in specific zip code location which can alter insurance rates significantly.

Higher deductibles save money

A question often asked by Indianapolis drivers is how low should you set your deductibles. The comparison tables below help summarize the rate difference when you buy lower versus higher physical damage coverage deductibles. The first rate table uses a $100 comprehensive and collision deductible and the second set of rates uses a $1,000 deductible.

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Indiana minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Premium amounts do not factor in garaging location in Indianapolis which can impact insurance rates significantly.

Based on these figures, using a $100 deductible will cost you about $32 more each month or $384 each year averaged for all Cobalt models than opting for the higher $1,000 deductible. Since you would have to pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to go at least 28 months between claim filings, you would save money if you decide on a higher deductible.

How accidents and violations affect rates

The chart below shows how speeding tickets and fender-benders impact Chevy Cobalt yearly insurance costs for different age categories. The premiums are based on a married male driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied.

Does it make sense to buy full coverage?

The diagram below visualizes the comparison of Chevy Cobalt auto insurance costs with liability coverage only compared to full coverage. The rate quotes are based on no claims, a clean driving record, $1,000 deductibles, single marital status, and no policy discounts are applied.

When to drop comprehensive and collision coverage

There is no set guideline of when to drop comprehensive and collision coverage on your policy, but there is a broad guideline. If the annual cost of your full coverage insurance is 10% or more of the settlement you would receive from your company, then you might want to consider buying only liability coverage.

For example, let’s pretend your Chevy Cobalt replacement value is $8,000 and you have $1,000 deductibles. If your vehicle is destroyed, you would only receive $7,000 after paying your policy deductible. If you are currently paying more than $700 annually to have full coverage, then it might be time to buy liability only.

There are some scenarios where removing full coverage is not a good plan. If you still have a lienholder on your title, you have to keep full coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should not buy liability only.

Why Your Insurance Costs might be higher

Lots of things are part of the equation when quoting car insurance. A few of the factors are predictable like your driving record, but others are more transparent like your vehicle usage and annual miles driven.

The factors shown below are just a few of the factors car insurance companies consider when setting your premiums.

Poor credit rating equals high premiums – An insured’s credit score is a big factor in determining your rates. Insureds that have excellent credit tend to be more responsible and file fewer claims than those with lower ratings. If your credit score can use some improvement, you could potentially save money when insuring your Chevrolet Cobalt by repairing your credit.

Multiple policies with one company – Some insurance companies apply a discount to insureds who consolidate policies with them. It’s known as a multi-policy discount. Discounts can amount to as much as ten percent or more Even with this discount, you may still want to compare Chevy Cobalt rates in Indianapolis to confirm you are receiving the best rates possible.

Does car insurance cost more for men? – Over the last 50 years, statistics have shown females are less aggressive when driving. It does not mean males are worse at driving than females. They both are responsible for auto accidents at a similar rate, but guys cause more damage and cost insurance companies more money. Men also have more aggressive citations like DUI and reckless driving. Teenage male drivers cause the most accidents and thus pay the highest rates.

The illustration below illustrates the comparison of Chevy Cobalt car insurance rates for male and female drivers. The premiums assume no claims, a clean driving record, full coverage, $1,000 deductibles, drivers are single, and no additional discounts are factored in.

Proper usage rating affects rates – The higher the mileage driven each year the more you will pay for car insurance. Most insurance companies charge to insure your cars based upon how the vehicle is primarily used. Autos used primarily for pleasure use can get a lower rate as compared to vehicles used primarily for driving to work. A policy that improperly rates your Cobalt may be wasting your money. Ask your agent if your policy states the right rating data, because it can save money.

Safety first – Cars with high safety ratings cost less to insure. The safest vehicles have better occupant injury protection and fewer serious injuries translates into fewer and smaller insurance claims and lower rates for you.

Stay claim-free and save money – If you file claims often, you can expect either a policy non-renewal or much higher rates. Auto insurance companies in Indiana give the lowest premiums to policyholders who do not rely on their insurance for small claims. Auto insurance is meant to be used in the event of larger claims.

A conclusion for your car insurance search

We covered a lot of information how to get a better price on Chevy Cobalt insurance in Indianapolis. The most important thing to understand is the more times you quote, the better your chances of lowering your prices. Consumers could even find that the lowest premium rates come from a lesser-known regional company. Regional companies may have significantly lower prices on certain market segments than the large multi-state companies such as Allstate, GEICO and Progressive.

The cheapest Chevy Cobalt insurance in Indianapolis is possible online and from local agencies, and you should be comparing both so you have a total pricing picture. There are still a few companies who may not provide online price quotes and these smaller providers only sell through local independent agencies.

How to find low-cost Chevy Cobalt insurance in Indianapolis

It takes a few minutes, but the best way to get budget Chevy Cobalt insurance is to compare prices regularly from companies in Indianapolis. You can compare prices by following these steps.

• First, try to learn a little about the different coverages in a policy and the factors you can control to prevent rate increases. Many factors that cause rate increases such as your driving record and a not-so-good credit history can be eliminated by paying attention to minor details.
• Second, compare prices from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from one company like GEICO or Allstate, while independent agents can quote rates from multiple companies.
• Third, compare the new rates to your current policy to see if cheaper Cobalt coverage is available in Indianapolis. If you find a lower rate quote and make a switch, ensure there is no coverage lapse between policies.
• Fourth, notify your current company to cancel your current auto insurance policy. Submit a down payment along with a signed application for your new coverage. Make sure you place the new proof of insurance certificate with your registration paperwork.

An essential thing to point out is to try to compare identical coverages on every price quote and and to get rates from as many different companies as possible. This provides a level playing field and the best price quote selection.

More tips and info about car insurance is available by following these links:

• How to Avoid Common Accidents (State Farm)
• What Auto Insurance is Cheapest for a Honda CR-V in Indianapolis? (FAQ)
• Who Has Cheap Indianapolis Car Insurance Quotes for 17 Year Olds? (FAQ)
• Who Has Affordable Indianapolis Auto Insurance for a Learners Permit? (FAQ)
• How Much are Indianapolis Auto Insurance Quotes for a Ford Explorer? (FAQ)
• Who Has Cheap Indianapolis Car Insurance for Drivers Under 21? (FAQ)
• Should I Buy a New or Used Car? (Allstate)
• Smart Auto Insurance Tips (Insurance Information Institute)