Compare 2016 Chevrolet Malibu Limited Car Insurance Cost in 2024

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Jun 5, 2024

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Shoppers have lots of choices when shopping for affordable Chevy Malibu Limited insurance. They can either spend hours contacting agents getting price quotes or save time using the internet to get rate quotes. There are both good and bad ways to buy insurance and we’ll show you the quickest way to get price quotes for a Chevy and locate the lowest price either online or from local insurance agents.

The method we recommend to compare policy rates is to know the trick most of the bigger providers allow for online access to give free rates quotes. To start a quote, the only thing you need to do is give the companies some data like how your vehicles are used, the year, make and model of vehicles, if you are currently licensed, and if you lease or own. Your insurance information is instantly sent to insurance companies and they provide comparison quotes immediately.

Discounts for affordable insurance rates

Some providers don’t list the entire discount list in a way that’s easy to find, so we break down a few of the more common and also the lesser-known insurance savings. If you do not check that you are getting every discount you qualify for, you’re just leaving money on the table.

  • Buy New and Save – Adding a new car to your policy can cost up to 25% less since new vehicles have better safety ratings.
  • Paperless Signup – Some of the larger companies will give you a small discount shop insurance on your computer.
  • Student in College – Kids who live away from home to go to college and do not take a car to college could qualify for this discount.
  • Employee of Federal Government – Having worked for a branch of the government could qualify for a slight premium decrease on Malibu Limited coverage depending on your insurance provider.
  • 55 and Retired – Drivers that qualify as senior citizens could receive lower premium rates on Malibu Limited coverage.

Discounts save money, but please remember that some credits don’t apply to the overall cost of the policy. Most cut individual premiums such as medical payments or collision. So when the math indicates all those discounts means the company will pay you, that’s just not realistic.

A few popular companies and some of their more popular discounts are:

  • American Family includes discounts for defensive driver, good student, good driver, accident-free, bundled insurance, early bird, and mySafetyValet.
  • State Farm may include discounts for driver’s education, good student, Steer Clear safe driver discount, multiple policy, anti-theft, good driver, and defensive driving training.
  • 21st Century offers premium reductions for anti-lock brakes, defensive driver, automatic seat belts, good student, driver training, and theft prevention.
  • Travelers has discounts for hybrid/electric vehicle, multi-policy, payment discounts, new car, good student, continuous insurance, and early quote.
  • GEICO may have discounts that include anti-theft, seat belt use, driver training, daytime running lights, multi-policy, and air bags.

When getting a coverage quote, ask all the companies what discounts are available to you. Savings may not apply in your area. To view insurance companies with significant discounts, enter your zip code here.

Chevy Malibu Limited insurance price factors

Lots of factors are taken into consideration when you quote your car insurance policy. Some factors are common sense such as your driving record, but other factors are not as apparent like where you live or how financially stable you are.

  • Older drivers pay less – More mature drivers are shown to be more cautious, cause fewer claims and accidents and receive fewer citations. Inexperienced drivers have been known to be inattentive in a vehicle therefore car insurance rates are much higher.
  • Higher premiums for high stress jobs – Careers such as lawyers, social workers and dentists have higher premium rates because of intense work situations and extremely grueling work hours. Other jobs like farmers, engineers and homemakers have lower than average premiums on Malibu Limited coverage.
  • Save money with high credit – Having a good credit history will be a significant factor in determining what you pay for car insurance. So if your credit rating is low, you could pay less to insure your 2016 Chevrolet Malibu Limited by spending a little time repairing your credit. Consumers who have excellent credit scores tend to be better drivers and file fewer claims than those with lower credit scores.
  • Proper usage rating affects costs – The higher the mileage driven each year the higher your rates will be. Most insurance companies apply a rate based upon how you use the vehicle. Vehicles left parked in the garage receive better premium rates than those used for commuting. It’s always a good idea to double check that your car insurance policy is showing the correct usage for each vehicle, because it can save money. Having the wrong rating on your Malibu Limited may be costing you.
  • Policy add-ons may not be needed – There are a ton of extra coverages that can add up if you aren’t diligent. Insurance for roadside assistance, better glass coverage, and term life insurance may not be needed and are just wasting money. They may sound like good ideas when discussing your needs, but if you’ve never needed them in the past eliminate the coverages to reduce your premium.
  • What’s your car’s NHTSA crash test rating? – Cars with five star safety ratings tend to have better insurance rates. These vehicles have better occupant injury protection and fewer serious injuries means less money paid by your insurance company passed on to you as lower rates. If your Chevy has at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may qualify for a discount.
  • Cheaper rates by combining – The majority of companies afford better rates to insureds that buy multiple policies, otherwise known as a multi-policy discount. Discounts can amount to 10 percent or more. Even though this discount sounds good, you still need to comparison shop to ensure the best deal.
  • Buy as much liability insurance as you can afford – Liability coverage kicks in when you are ruled to be at fault for damages from an accident. This coverage provides for a legal defense which can cost thousands of dollars. This coverage is relatively inexpensive compared to physical damage coverage, so drivers should carry high limits.

Tailor your insurance coverage coverage to you

When it comes to buying the right insurance coverage, there really is not a best way to insure your cars. Your needs are not the same as everyone else’s.

For instance, these questions may help highlight whether your personal situation would benefit from an agent’s advice.

  • When should I remove comp and collision on my 2016 Chevy Malibu Limited?
  • Am I covered if I drive in a foreign country?
  • Do I pay less for low miles?
  • Does coverage extend to Mexico or Canada?
  • Am I covered when using my vehicle for business?
  • Should I buy more coverage than the required minimum liability coverage?
  • What is the difference between comprehensive and collision coverage?
  • Am I insured when driving a different vehicle?

If you can’t answer these questions but a few of them apply, you may need to chat with an agent. If you don’t have a local agent, fill out your zip code. It is quick, free and you can get the answers you need.

Insurance coverages 101

Learning about specific coverages of your policy helps when choosing the best coverages and the correct deductibles and limits. The terms used in a policy can be ambiguous and reading a policy is terribly boring.

Med pay and Personal Injury Protection (PIP) – Personal Injury Protection (PIP) and medical payments coverage pay for expenses for things like prosthetic devices, surgery and chiropractic care. They can be used to fill the gap from your health insurance plan or if you are not covered by health insurance. Coverage applies to all vehicle occupants and also covers getting struck while a pedestrian. Personal Injury Protection is only offered in select states and may carry a deductible

Collision – Collision coverage covers damage to your Malibu Limited resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims like crashing into a building, driving through your garage door, colliding with a tree and rolling your car. This coverage can be expensive, so consider removing coverage from lower value vehicles. Another option is to choose a higher deductible to bring the cost down.

Liability coverage – This coverage will cover damage or injury you incur to people or other property that is your fault. This insurance protects YOU from legal claims by others. Liability doesn’t cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and $25,000 of coverage for damaged property.

Liability coverage pays for claims like medical services, structural damage and funeral expenses. How much coverage you buy is up to you, but buy as high a limit as you can afford.

Comprehensive insurance – This coverage covers damage from a wide range of events other than collision. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things such as hail damage, a tree branch falling on your vehicle, damage from a tornado or hurricane, fire damage and falling objects. The most your insurance company will pay is the actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage gives you protection from other drivers when they are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries as well as damage to your Chevy Malibu Limited.

Since many drivers have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important.

Buy online or local, you save

When you buy insurance online, it’s a bad idea to buy poor coverage just to save money. In many instances, drivers have reduced liability coverage limits only to find out that it was a big error on their part. Your objective should be to find the BEST coverage for the lowest cost, but do not skimp to save money.

Consumers change insurance companies for a variety of reasons including lack of trust in their agent, high rates after DUI convictions, delays in responding to claim requests or even not issuing a premium refund. Regardless of your reason for switching companies, choosing a new insurance company can be pretty painless.

Budget-friendly insurance coverage can be sourced from both online companies and from local insurance agents, and you should compare price quotes from both to have the best rate selection. A few companies may not provide rates over the internet and usually these smaller providers prefer to sell through local independent agents.

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