Cheapest 2014 Chevrolet Malibu Insurance Rates in 2023
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UPDATED: Dec 1, 2021
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Want better insurance rates? Drivers have lots of choices when trying to find the lowest priced Chevy Malibu insurance. You can either waste hours struggling with agents getting price quotes or save time using the internet to compare rates. There is a better way to find insurance online and you need to know the best way to get price quotes on a Chevy and locate the cheapest rates from local insurance agents and online providers.
Buying car insurance is not that difficult. If you currently have car insurance, you should be able to save some money using this information. Drivers just need to learn how to buy insurance coverage online.
Low Cost Auto Insurance
All major auto insurance companies like Allstate, GEICO and Progressive give prices online. Getting online rates is fairly simple as you just type in your coverage preferences as requested by the quote form. When complete, their system automatically retrieves your credit score and driving record and returns pricing information.
Online price quotes simplifies rate comparisons, but having to visit a lot of sites and enter the same data into a form can be a bit tiresome and repetitive. But it is imperative to do this in order to find the lowest possible prices on auto insurance.
The preferred way to lower your auto insurance bill is to use a quote form to obtain quotes from multiple companies. It saves time, eliminates repetitive work, and makes rate comparisons a lot less work. Once the form is submitted, it gets priced with multiple companies and you can pick any or none of the quotes returned. If a lower price is quoted, you simply finish the application and buy the policy. The whole process takes 15 minutes at the most and may save quite a bit of money.
If you want to find out how much you can save on auto insurance, click here to open in a new tab and submit your coverage information. To compare your current rates, we recommend you replicate the limits and deductibles identical to your current policy. Doing this guarantees you’re receiving an apples-to-apples comparison using the exact same coverages.
Do you qualify for a discount?
Companies offering auto insurance don’t list every available discount very well, so we researched both the well known as well as the least known discounts you could be receiving. If you don’t get every credit available, you are paying more than you should be.
- Discount for New Cars – Putting insurance coverage on a new car can cost up to 25% less due to better safety requirements for new cars.
- Military Rewards – Being on active duty in the military can result in better rates.
- E-sign – Some insurance companies may give you up to $50 for buying a policy and signing up online.
- One Accident Forgiven – A handful of insurance companies permit an accident without raising rates if you are claim-free prior to the accident.
- Discount for Good Grades – Getting good grades can save 20 to 25%. The good student discount can last up until you turn 25.
- Discount for Swiching Early – A few companies offer discounts for switching to them before your current policy expires. The savings is around 10%.
- Homeowners Pay Less – Being a homeowner can save you money because owning a home shows financial diligence.
A little note about advertised discounts, many deductions do not apply to the overall cost of the policy. Most only apply to individual premiums such as comp or med pay. So even though it sounds like adding up those discounts means a free policy, insurance coverage companies aren’t that generous.
A partial list of companies that possibly offer these money-saving discounts may include but are not limited to:
- The Hartford
- American Family
- Farmers Insurance
- Liberty Mutual
Check with each company which discounts they offer. All car insurance discounts may not apply in your state.
Why you might be paying too much to insure your Chevy Malibu
It’s important that you understand the different types of things that go into determining the price you pay for insurance coverage. Having a good understanding of what determines base rates helps enable you to make changes that may reward you with better insurance coverage rates.
Listed below are some of the items that factor into rates.
- Liability coverage is cheap – Liability coverage will protect you in the event that you are found liable for personal injury or accident damage. It provides for a legal defense up to the limits shown on your policy. Liability is cheap when compared with rates for comp and collision, so buy as much as you can afford.
- Safer cars are cheaper to insure – Safer cars can get you lower premiums. Safer cars reduce injuries and lower injury rates translates into fewer and smaller insurance claims passed on to you as lower rates. If the Chevy Malibu earned at least four stars on Safercar.gov or an “acceptable” rating on iihs.org it is probably cheaper to insure.
- Men fork out a little more – Statistics have proven women are more cautious behind the wheel. However, this does not mean women are BETTER drivers than men. Women and men tend to get into accidents in similar numbers, but the male of the species have costlier accidents. Men also tend to get cited for more serious violations such as DWI and reckless driving. Male drivers age 16 to 19 tend to get in the most accidents and thus pay the highest rates.
- Traffic citations inflate rates – Even one speeding ticket can bump up the cost twenty percent or more. Drivers who don’t get tickets get better rates than their less careful counterparts. If you have dangerous violations such as DUI or reckless driving may find they need to submit a SR-22 or proof of financial responsibility with their state DMV in order to prevent a license revocation.
- The more you drive the more you pay – The higher the mileage driven every year the higher your rate. Most insurance companies price each vehicle’s coverage based upon how you use the vehicle. Cars left parked in the garage qualify for better rates compared to those used for work or business. Make sure your insurance coverage declarations sheet properly reflects the correct usage for each vehicle. If your policy improperly rates your Malibu can cost quite a bit.
What coverages do I need?
When it comes to choosing coverage for your vehicles, there isn’t really a best way to insure your cars. Everyone’s situation is unique.
These are some specific questions might point out whether your personal situation could use an agent’s help.
- Can I make deliveries for my home business?
- What if I total my 2014 Chevy Malibu and owe more than it’s worth?
- Is my trailer covered?
- Is my cargo covered for damage or theft?
- Am I covered if I hit a deer?
- How much underlying liability do I need for an umbrella policy?
- Is business property covered if stolen from my car?
If you don’t know the answers to these questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form. It is quick, free and can provide invaluable advice.
Drivers who switch save $454 a year? Really?
Drivers can’t ignore all the ads that promise big savings from the likes of Allstate, GEICO and Progressive. All the ads have a common claim that you’ll save big if you change your coverage to them.
But how can every company say the same thing?
Different companies have a preferred profile for the right customer that is profitable for them. For instance, a preferred risk might be between 25 and 40, is a homeowner, and chooses high deductibles. A customer getting a price quote who meets those qualifications gets the lowest rates and as a result will probably cut their rates substantially.
Consumers who don’t measure up to the requirements will have to pay higher rates and ends up with the driver buying from a lower-cost company. The ads say “customers that switch” not “everyone that quotes” save that kind of money. That is how insurance companies can confidently claim big savings. Because of the profiling, it is so important to get quotes from several different companies. It’s just too difficult to predict the company that will give you the biggest savings on Chevy Malibu insurance.
Insurance coverage breakdown
Having a good grasp of your insurance policy aids in choosing which coverages you need and the correct deductibles and limits. Policy terminology can be confusing and nobody wants to actually read their policy.
Coverage for collisions
This coverage covers damage to your Malibu resulting from colliding with an object or car. You have to pay a deductible and then insurance will cover the remainder.
Collision insurance covers claims like scraping a guard rail, hitting a parking meter and damaging your car on a curb. Paying for collision coverage can be pricey, so consider dropping it from lower value vehicles. You can also raise the deductible to bring the cost down.
Comprehensive (Other than Collision)
Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive can pay for claims like hitting a deer, a broken windshield, damage from flooding and falling objects. The maximum amount your insurance company will pay is the ACV or actual cash value, so if the vehicle’s value is low consider dropping full coverage.
Medical expense insurance
Med pay and PIP coverage pay for short-term medical expenses such as chiropractic care, surgery, doctor visits and hospital visits. The coverages can be used in conjunction with a health insurance program or if you lack health insurance entirely. It covers both the driver and 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 can be used in place of medical payments coverage
Protection from uninsured/underinsured drivers
Your UM/UIM coverage protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants as well as your vehicle’s damage.
Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. So UM/UIM coverage is very important.
Coverage for liability
Liability insurance can cover damage that occurs to people or other property that is your fault. It protects you against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see 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 property damage coverage for $50,000.
Liability insurance covers things like structural damage, medical services, loss of income and bail bonds. The amount of liability coverage you purchase is a personal decision, but buy as large an amount as possible.
More comparisons equals lower rates
As you shop your coverage around, it’s a bad idea to reduce coverage to reduce premium. In many cases, consumers will sacrifice liability limits or collision coverage only to regret they didn’t purchase enough coverage. The proper strategy is to buy a smart amount of coverage at an affordable rate, not the least amount of coverage.
Consumers leave their current company for many reasons like poor customer service, high rates after DUI convictions, policy cancellation and unfair underwriting practices. No matter why you want to switch, choosing a new company can be pretty painless.
Budget-conscious 2014 Chevy Malibu insurance can be purchased both online as well as from independent agents, so you should compare both in order to have the best chance of saving money. Some companies don’t offer online price quotes and these small insurance companies work with independent agents.
For more information, feel free to browse the resources below:
- All About Airbag Safety (State Farm)
- Alcohol Impaired Driving FAQ (iihs.org)
- Winter Driving (Insurance Information Insitute)
- Understanding Limits and Deductibles (Allstate)
- Auto Insurance for Teen Drivers (Insurance Information Insitute)
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