Cheapest 2016 Chevrolet Malibu Hybrid Insurance Rates in 2023
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UPDATED: Aug 24, 2022
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If you’ve never shopped for insurance quotes online, you can be confused thanks to the huge assortment of online insurance coverage companies and websites that all promise to save you money.
Do you qualify for discounts?
Companies don’t always advertise every discount very clearly, so the next list breaks down both well-publicized and also the more inconspicuous discounts that you may qualify for. If you’re not getting every credit you deserve, it’s possible you qualify for a lower rate.
- Pay Early and Save – If you pay your bill all at once instead of paying each month you may have a lower total premium amount.
- No Claim Discounts – Drivers with accident-free driving histories get the best insurance rates when compared with drivers who are more careless.
- Paperless Signup – A handful of insurance companies will give you a small discount for signing up on their website.
- Professional Organizations – Joining a qualifying organization could trigger savings on insurance.
- Theft Prevention System – Vehicles equipped with anti-theft or alarm systems are stolen less frequently so companies will give you a small discount.
- Discount for Life Insurance – Insurance carriers who offer life insurance give lower prices if you buy a life policy as well.
- Homeowners Pay Less – Being a homeowner can save you money since home ownership demonstrates responsibility.
- Student Discounts – Excelling in school may save as much as 25% on a insurance quote. Many companies even apply the discount to college students up to age 25.
- Discount for Passive Restraints – Vehicles with factory air bags or automatic seat belts could see savings up to 30%.
Remember that most credits do not apply to the entire policy premium. Most only reduce the cost of specific coverages such as liability, collision or medical payments. Despite the appearance that you could get a free insurance policy, it doesn’t quite work that way.
A list of companies and a selection of discounts can be found below.
- State Farm may have discounts that include multiple policy, Drive Safe & Save, multiple autos, defensive driving training, and anti-theft.
- American Family has savings for accident-free, good student, bundled insurance, early bird, and Steer into Savings.
- GEICO offers premium reductions for defensive driver, air bags, anti-lock brakes, driver training, five-year accident-free, anti-theft, and emergency military deployment.
- 21st Century has discounts for early bird, defensive driver, theft prevention, good student, automatic seat belts, homeowners, and anti-lock brakes.
- Progressive discounts include homeowner, online signing, multi-vehicle, continuous coverage, and multi-policy.
Before purchasing a policy, check with every prospective company what discounts are available to you. Some of the discounts discussed earlier may not be offered in your state. If you would like to see a list of insurers offering insurance discounts, enter your zip code here.
Auto insurance quotes comparison
When shopping for auto insurance there are multiple ways to compare rate quotes from many different insurance companies. One of the best ways to do a complete rate comparison consists of obtaining rate quotes online. This is very easy and can be done in a couple of different ways.
- The easiest and least time consuming way consumers can make multiple comparisons is to use a rate comparison form. This method prevents you from having to do multiple quote forms for every prospective company. A single form gets rate comparisons from multiple companies. This is by far the quickest method.
- A slightly less efficient method to analyze rates is spending the time to visit the website for every company you want to comare to complete their respective quote request forms. For examples sake, we’ll pretend you need rates from GEICO, Farmers and State Farm. To get each rate you have to go to each individual site and repeatedly type in your coverage information, which can get old fast.
The approach you take is up to you, just make absolute certain that you use the exact same quote information on every quote you get. If you have mixed coverages it will be next to impossible to truly determine the lowest rate. Slightly different coverage limits can make a big difference in price. Just remember that getting more free quotes helps improve the odds of finding the best price.
Lower your insurance rates
Many factors are part of the equation when you get your auto insurance bill. Most are fairly basic such as traffic violations, although some other factors are not as apparent such as whether you are married and annual miles driven.
The itemized list below are some of the most common factors that factor into prices.
- Urban areas may pay more – Residing in a rural area has it’s advantages when talking about insurance coverage. City drivers have more aggressive driving styles and more severe claims. Fewer people means fewer accidents and lower theft and vandalism rates.
- Decrease premiums by maintaining coverage – Driving any period of time without insurance is illegal and companies may charge more for letting your insurance coverage expire. In addition to paying higher rates, being ticketed for driving with no insurance may result in a hefty fine and possibly a revoked license.
- Save miles driven and save money – Driving more miles each year the more you’ll pay to insure it. A lot of insurance companies apply a rate based upon how the vehicle is primarily used. Cars and trucks that are left in the garage qualify for better rates as compared to vehicles used primarily for driving to work. Improper usage on your Malibu Hybrid is throwing money out the window. It’s a smart idea to ensure your declarations sheet states how each vehicle is driven, because improper ratings can cost you money.
- Bundle policies and save money – Most larger insurers allow a discount to policyholders that buy multiple policies. It’s known as a multi-policy discount. The amount of the discounts can be ten percent or more. Even with this discount, drivers will still want to compare other insurance prices to confirm you are receiving the best rates possible.There is a good possibility that you can save more without the discount by splitting coverages up.
- Rates increase with driving citations – Whether or not you get tickets has a huge affect on how much you pay. Drivers with clean records have lower premiums than bad drivers. Only having one chargable violation may increase your cost twenty percent or more. Drivers unfortunate enough to have careless violations like DUI or willful reckless driving may find that they have to to submit a SR-22 or proof of financial responsibility with their state motor vehicle department in order to prevent a license revocation.
Don’t assume everyone needs the same auto insurance coverage
When it comes to buying adequate coverage, there is no “perfect” insurance plan. Everyone’s needs are different.
Here are some questions about coverages that may help you determine if your situation would benefit from professional advice.
- Will my insurance pay for OEM parts?
- Is my ex-spouse still covered by my policy?
- Does my car insurance cover rental cars?
- Are rental cars covered under my policy?
- Am I covered if I hit my neighbor’s mailbox?
- What is covered by UM/UIM coverage?
- Should I file a claim if it’s only slightly more than my deductible?
If you don’t know the answers to these questions, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, take a second and enter your zip code.
Educate yourself about auto insurance coverages
Knowing the specifics of your policy can help you determine which coverages you need for your vehicles. Auto insurance terms can be ambiguous and nobody wants to actually read their policy.
Uninsured Motorist or Underinsured Motorist insurance
This coverage protects you and your vehicle’s occupants when the “other guys” are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants and damage to your 2016 Chevy Malibu Hybrid.
Due to the fact that many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.
Auto collision coverage
Collision coverage pays to fix your vehicle from damage resulting from a collision with an object or car. You have to pay a deductible then your collision coverage will kick in.
Collision insurance covers claims such as driving through your garage door, backing into a parked car, sustaining damage from a pot hole, scraping a guard rail and crashing into a ditch. This coverage can be expensive, so consider dropping it from lower value vehicles. It’s also possible to bump up the deductible to save money on collision insurance.
Insurance for medical payments
Med pay and PIP coverage reimburse you for short-term medical expenses like funeral costs, X-ray expenses, surgery and doctor visits. The coverages can be used in conjunction with a health insurance program or if you lack health insurance entirely. It covers all vehicle occupants as well as any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay
Comprehensive coverage (or Other than Collision)
This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for claims like a tree branch falling on your vehicle, damage from a tornado or hurricane, falling objects, fire damage and damage from flooding. The maximum payout you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.
Liability auto insurance
This can cover damages or injuries you inflict on other’s property or people by causing an accident. This coverage protects you against claims from other people, and doesn’t cover your injuries or vehicle damage.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 100/300/100 that translate to $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000.
Liability coverage protects against things such as attorney fees, emergency aid, medical services and pain and suffering. How much liability coverage do you need? That is up to you, but buy as large an amount as possible.
Online plus local equals savings
We just showed you a lot of information how to get a better price on 2016 Chevy Malibu Hybrid insurance. The key thing to remember is the more companies you get rates for, the better your chances of lowering your rates. Consumers may even find the lowest prices come from some of the smallest insurance companies.
Drivers switch companies for a variety of reasons including policy non-renewal, being labeled a high risk driver, an unsatisfactory settlement offer or high prices. It doesn’t matter what your reason, choosing a new company is pretty easy and you might even save some money in the process.
As you restructure your insurance plan, it’s not a good idea to skimp on critical coverages to save a buck or two. In many cases, consumers will sacrifice comprehensive coverage or liability limits only to discover later that the small savings ended up costing them much more. Your focus should be to get the best coverage possible at the best possible price.
For more information, feel free to visit the resources below:
- Teen Driving Statistics (iihs.org)
- Understanding Car Crashes Video (iihs.org)
- Frontal Crash Tests (iihs.org)
- Prepare your Teens for Safe Driving (InsureUonline.org)
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