Cheapest 2007 Chevrolet Equinox Insurance Rates in 2023
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UPDATED: Dec 6, 2021
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No one likes having to buy insurance, particularly when the cost is too high. Because there are so many different company options, it can be diffult for consumers to pick the right insurer.
Auto Insurance Prices
Getting a lower price on 2007 Chevy Equinox insurance is a fairly straight forward process. The only requirement is to take a few minutes comparing price quotes from different insurance companies. This can be accomplished in just a few minutes using one of these methods.
- The fastest way to find low rates is to use a rate comparison form (click to open form in new window). This form prevents you from having to do separate quotes for every auto insurance company. Completing one form gets you coverage quotes instantly.
- A slightly less efficient method to analyze rates is to manually visit the website for each individual company to complete a price quote. For example, we’ll pretend you want to compare State Farm, Allstate and Liberty Mutual. To find out each rate you need to take the time to go to each site and enter your information, which is why the first method is quicker. To view a list of companies in your area, click here.
- The least recommended method of comparing rate quotes is to spend your day driving to different agent offices. The ability to buy insurance online eliminates the need for an insurance agent unless you require the professional advice that only a license agent can provide. It is possible to comparison shop online but still have the advice of a local agent. We’ll cover that shortly.
Whichever way you use, compare identical coverages for each price quote. If you use different liability limits you will not be able to determine which rate is truly the best.
Save on 2007 Chevy Equinox insurance
Car insurance can cost a lot, but you may find discounts that you may not even be aware of. Most are applied at the time of quoting, but less common discounts must be specifically requested before you will receive the discount. If you’re not getting every credit you qualify for, you are paying more than you should be.
- No Accidents – Claim-free drivers can save substantially when compared to accident-prone drivers.
- Sign Online – Certain companies may give you up to $50 for buying a policy and signing up on their website.
- Accident Forgiveness – A few companies will forgive one accident before raising your premiums so long as you haven’t had any claims for a set time period.
- Drivers Ed for Students – Have your child complete a driver education course if offered at their school.
- Discounts for Safe Drivers – Safe drivers can pay as much as 50% less on Equinox coverage than drivers with accident claims.
- Homeowners Savings – Being a homeowner can help you save on insurance coverage due to the fact that maintaining a home demonstrates responsibility.
- Multi-policy Discount – When you have multiple policies with the same company you will save up to 20% off your total premium.
- Senior Discount – Mature drivers may qualify for a discount up to 10% on Equinox coverage.
- New Car Discount – Adding a new car to your policy can be considerably cheaper due to better safety requirements for new cars.
It’s important to note that most discount credits are not given to the entire cost. Most only cut the cost of specific coverages such as comp or med pay. Just because it seems like having all the discounts means you get insurance for free, it just doesn’t work that way. Any qualifying discounts will help reduce your overall premium however.
To see a list of providers who offer insurance coverage discounts, click this link.
Tailor your coverage to you
When buying proper insurance coverage, there really is not a cookie cutter policy. Everyone’s situation is unique so your insurance should reflect that Here are some questions about coverages that can aid in determining if your situation might need an agent’s assistance.
- What is PIP insurance?
- How can I get my company to pay me more for my totalled car?
- Can my teen drive my company car?
- Do I need replacement cost coverage?
- What is an SR-22 filing?
- Does my policy cover me when driving someone else’s vehicle?
If it’s difficult to answer those questions, you might consider talking to an insurance agent. To find an agent in your area, simply complete this short form or go to this page to view a list of companies. It’s fast, free and you can get the answers you need.
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Why your Chevy Equinox might be costing you more
It’s important that you understand the factors that help determine your insurance coverage rates. Knowing what influences your rates empowers consumers to make smart changes that could result in much lower annual insurance costs.
- Credit scores impact insurance coverage rates – Your credit history is a big factor in your rate calculation. So if your credit history is not that good, you could pay less to insure your 2007 Chevrolet Equinox by spending a little time repairing your credit. People with good credit tend to be more responsible as compared to drivers with lower credit scores.
- Lower rates with optional equipment – Driving a car with a theft deterrent system can help bring down rates. Theft prevention devices like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all hinder your car from being stolen.
- Your location is important – Living in small towns and rural areas can be a good thing when talking about insurance coverage. Fewer people means a lower chance of having an accident. Urban drivers have much more traffic to deal with and longer commutes to work. More time commuting can result in more accidents.
- More claims means more premium – Insurance companies give better rates to people who are claim-free. If you tend to file frequent claims, you can pretty much guarantee either policy cancellation or increased premiums. Auto insurance is designed for the large, substantial claims.
- Traffic violations increase rates – Careful drivers get better rates than their less careful counterparts. Even a single ticket can boost insurance rates twenty percent or more. Drivers who have dangerous citations such as reckless driving, hit and run or driving under the influence may need to submit a SR-22 form to the state department of motor vehicles in order to prevent a license revocation.
- Drive less and save money – The more you drive every year the more you’ll pay to insure your vehicle. The majority of insurers rate vehicles determined by how the vehicle is used. Cars and trucks left parked in the garage qualify for better rates than those used for commuting. Make sure your insurance coverage policy is rated on the correct driver usage. Incorrect usage on your Equinox may be costing you.
- Don’t skimp on liability – Liability coverage provides coverage if you are found liable for damages from an accident. Liability provides legal defense which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so drivers should carry high limits.
Car insurance policy specifics
Knowing the specifics of your car insurance policy can help you determine the best coverages for your vehicles. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording. Listed below are typical coverages offered by car insurance companies.
Collision coverages – Collision insurance pays for damage to your Equinox caused by collision with another car or object. You have to pay a deductible and then insurance will cover the remainder.
Collision can pay for claims like sideswiping another vehicle, rolling your car, sustaining damage from a pot hole and backing into a parked car. Paying for collision coverage can be pricey, so you might think about dropping it from older vehicles. It’s also possible to raise the deductible to get cheaper collision coverage.
Liability auto insurance – Liability coverage can cover damage or injury you incur to people or other property that is your fault. This coverage protects you against claims from other people. Liability doesn’t cover damage sustained by your vehicle in an accident.
Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 50/100/50 that means you have 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. Occasionally you may see a combined limit that pays claims from the same limit with no separate limits for injury or property damage.
Liability can pay for claims like pain and suffering, court costs, loss of income, bail bonds and emergency aid. How much liability should you purchase? That is up to you, but buy as large an amount as possible.
Comprehensive coverage (or Other than Collision) – This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for things such as damage from a tornado or hurricane, fire damage, damage from flooding, theft and damage from getting keyed. The most your car insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
Uninsured Motorist or Underinsured Motorist insurance – Uninsured or Underinsured Motorist coverage provides protection when the “other guys” are uninsured or don’t have enough coverage. Covered losses include injuries to you and your family and damage to your Chevy Equinox.
Since many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Usually these limits are similar to your liability insurance amounts.
Insurance for medical payments – Coverage for medical payments and/or PIP provide coverage for expenses like nursing services, surgery, pain medications, doctor visits and chiropractic care. They are often utilized in addition to your health insurance policy or if there is no health insurance coverage. They cover all vehicle occupants and also covers getting struck while a pedestrian. PIP is not an option in every state and gives slightly broader coverage than med pay
More quotes mean more savings
We just covered many tips how you can save on 2007 Chevy Equinox insurance. The most important thing to understand is the more quotes you get, the better your chances of lowering your rates. Consumers may even find the biggest savings come from a company that doesn’t do a lot of advertising. These smaller insurers may only write in your state and offer lower rates compared to the large companies like GEICO and State Farm.
Low-cost insurance can be sourced both online in addition to many insurance agents, so you should compare both to have the best selection. There are still a few companies who do not provide online quoting and usually these small insurance companies provide coverage only through local independent agents.
As you shop your coverage around, do not skimp on critical coverages to save a buck or two. There are a lot of situations where consumers will sacrifice liability coverage limits only to discover later that a couple dollars of savings turned into a financial nightmare. Your strategy should be to purchase a proper amount of coverage at an affordable rate, not the least amount of coverage.
More information can be found at these links:
- Prom Night Tips for Teen Drivers (State Farm)
- Choosing a Car for Your Teen (State Farm)
- Collision Coverage (Liberty Mutual)
- State Car Insurance Guides (GEICO)
- Teen Driver Licensing Information (iihs.org)
- Rental Reimbursement Coverage (Allstate)
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