Cheapest 2003 Chevrolet Malibu Insurance Rates in 2023
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UPDATED: Aug 23, 2022
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Want lower insurance rates? Drivers have many options when trying to find the lowest priced Chevy Malibu insurance. They can either spend hours struggling with agents to compare prices or utilize the internet to compare rates. There is a better way to buy insurance and you need to know the best way to compare rates on a Chevy and obtain the lowest price from local insurance agents and online providers.
If you have a policy now or need new coverage, you can learn to get lower rates while maximizing coverage. This article will let you in on how car insurance quotes work and some money-saving tips. Vehicle owners only need to know the best way to get comparison quotes over the internet.
Save money by taking advantage of these ten discounts
Companies don’t always publicize every discount very well, so the following is a list of some of the more common and the more hidden ways to save on insurance coverage. If you don’t get every credit you qualify for, you’re paying more than you need to.
- Fewer Miles Equal More Savings – Driving fewer miles can qualify you for a substantially lower rate.
- Multi-policy Discount – If you insure your home and vehicles with the same insurance company you could get a discount of approximately 10% to 15%.
- Theft Prevention System – Vehicles with anti-theft systems help deter theft and qualify for as much as a 10% discount.
- Good Student – This discount can earn a discount of 20% or more. The discount lasts up until you turn 25.
- Multiple Cars – Buying insurance for all your vehicles with the same company may reduce the rate for each vehicle.
- Save with a New Car – Adding a new car to your policy can save up to 30% because new vehicles have to meet stringent safety requirements.
- Driver’s Ed – Make teen driver coverage more affordable by requiring them to complete a driver education course if offered at their school.
- Federal Employees – Being employed by or retired from a federal job can save as much as 8% on Malibu coverage with certain companies.
- Air Bag Discount – Factory air bags and/or automatic seat belt systems can qualify for discounts up to 30%.
- No Accidents – Drivers with accident-free driving histories can earn big discounts compared to frequent claim filers.
Keep in mind that most discount credits are not given to the entire policy premium. Most only cut individual premiums such as medical payments or collision. So even though they make it sound like you could get a free insurance coverage policy, it doesn’t quite work that way.
A partial list of companies who might offer these discounts include:
- State Farm
- 21st Century
Check with each insurance company which discounts they offer. Savings might not apply in every state.
When should I use an insurance agent?
When choosing the best car insurance coverage, there really is no “perfect” insurance plan. Everyone’s situation is unique.
Here are some questions about coverages that could help you determine whether or not you may require specific advice.
- Is my cargo covered for damage or theft?
- Am I covered when driving a rental car?
- Should I rate my 2003 Chevy Malibu as pleasure use or commute?
- Am I covered when delivering products for my home-based business?
- Are my friends covered when driving my car?
- Why am I required to buy liability insurance?
- Do I have newly-aquired coverage?
- Does my insurance cover damage caused when ticketed for reckless driving?
- If I drive on a suspended license am I covered?
- Can I afford low physical damage deductibles?
If you can’t answer these questions but a few of them apply, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form. It’s fast, doesn’t cost anything and can help protect your family.
Save $473 a year? Really?
Consumers can’t get away from ads that promise big savings by companies like Progressive, Allstate and GEICO. All the companies have a common claim about savings if you switch to them.
How can each company claim to save you money? This is how they do it.
All the different companies can use profiling for the right customer that earns them a profit. For instance, a preferred risk could possibly be over the age of 50, has no driving citations, and drives less than 10,000 miles a year. A customer getting a price quote who meets those qualifications receives the best rates and as a result will probably save when they switch companies.
Potential insureds who do not match these standards must pay a higher premium which leads to the driver buying from a lower-cost company. Company advertisements say “people who switch” not “everyone that quotes” save that kind of money. That’s why insurance companies can make those claims. This illustrates why you need to quote coverage with many companies. You cannot predict the company that will fit your personal profile best.
Detailed coverages of your car insurance policy
Having a good grasp of a car insurance policy aids in choosing the best coverages for your vehicles. The coverage terms in a policy can be ambiguous and reading a policy is terribly boring.
Medical payments coverage and PIP
Med pay and PIP coverage pay for short-term medical expenses like doctor visits, hospital visits, X-ray expenses and nursing services. They are utilized in addition to your health insurance plan or if you do not have health coverage. They cover all vehicle occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not available in all states but it provides additional coverages not offered by medical payments coverage
This coverage will pay to fix damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for things like falling objects, damage from a tornado or hurricane and damage from getting keyed. The maximum payout your car insurance company will pay is the actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Auto liability insurance
This protects you from injuries or damage you cause to a person or their property in an accident. This insurance protects YOU from claims by other people, and doesn’t cover your own vehicle damage or injuries.
It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see liability limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property.
Liability insurance covers claims such as legal defense fees, repair costs for stationary objects, funeral expenses and court costs. How much coverage you buy is a personal decision, but consider buying as high a limit as you can afford.
Uninsured/Underinsured Motorist coverage
This provides protection when other motorists do not carry enough liability coverage. Covered losses include medical payments for you and your occupants as well as damage to your Chevy Malibu.
Due to the fact that many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important.
Collision insurance will pay to fix damage to your Malibu resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.
Collision can pay for claims such as damaging your car on a curb, colliding with a tree and rolling your car. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. It’s also possible to raise the deductible to bring the cost down.
Shop Smart and Save
You just read some good ideas how to save on 2003 Chevy Malibu insurance. It’s most important to understand that the more rate quotes you have, the more likely it is that you will get a better rate. Consumers may even find the lowest rates come from the least-expected company.
As you go through the steps to switch your coverage, it’s not a good idea to skimp on critical coverages to save a buck or two. In many cases, drivers have reduced collision coverage only to regret that it was a big mistake. Your focus should be to buy the best coverage you can find for the lowest price while not skimping on critical coverages.
Lower-priced insurance can be bought both online as well as from independent agents, so you should compare both to have the best chance of lowering rates. Some companies don’t offer the ability to get a quote online and these smaller companies work with independent agents.
To learn more, link through to the resources below:
- Distracted Driving Statistics (Insurance Information Insitute)
- Understanding Rental Car Insurance (Insurance Information Insitute)
- Credit Impacts Car Insurance Rates (State Farm)
- Senior Drivers (Insurance Information Insitute)
- Understanding your Policy (NAIC.org)
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