How Much Does 2020 Chevrolet Equinox 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: May 24, 2024

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Trying to find low cost auto insurance is always quite difficult for drivers new to quoting and comparing rates online. With so many options of companies competing online, it can easily be a difficult challenge to compare prices.

You should take the time to take a look at other company’s rates every six months since insurance rates fluctuate regularly. Just because you found the lowest rate on Equinox insurance two years ago the chances are good that you can find a lower price today. Ignore everything you know about auto insurance because I’m going to let you in on the secrets to the best way to eliminate unnecessary coverages and save money.

Finding the best rates is easy if you know what you’re doing. If you are paying for car insurance now, you will most likely be able to save some money using these methods. But consumers can benefit from knowing the methods companies use to determine prices.

The quickest way to get policy rate comparisons is to understand auto insurance companies allow for online access to provide you with free rate quotes. The only thing you need to do is provide a small amount of information like distance driven, your education level, the year, make and model of vehicles, and whether or not you need a SR-22. That rating information is then sent to multiple insurance providers and they return rate quotes almost instantly.

If you would like to start a quote now, click here and enter your zip code.

Discounts to earn lower-cost auto insurance rates

Auto insurance is not an enjoyable expense, but you might already qualify for some discounts to help offset the cost. Many discounts should be triggered when you complete an application, but occasionally some discounts must be asked for before you will receive the discount.

  • Seat Belts Save – Requiring all passengers to wear their seat belts could cut 10% or more off PIP or medical payments premium.
  • Accident Waiver – This one isn’t a discount, but a few companies such as Progressive and Allstate may permit one accident without the usual rate increase if you are claim-free prior to being involved in the accident.
  • E-sign – A few insurance companies provide a small discount shop car insurance digitally online.
  • Military Discounts – Having a family member in the military could qualify you for better prices.
  • Senior Citizen Rates – Mature drivers may be able to get lower premium rates on Equinox insurance.
  • Theft Deterrent Discount – Cars and trucks optioned with advanced anti-theft systems prevent vehicle theft and qualify for as much as a 10% discount.
  • Include Life Insurance and Save – Some companies give a discount if you purchase some life insurance in addition to your auto policy.

Don’t be shocked that many deductions do not apply to the whole policy. Most cut specific coverage prices like liability and collision coverage. Just because you may think you can get free auto insurance, you’re out of luck. Any amount of discount will help reduce your policy premium.

A list of companies and the discounts they provide are outlined below.

  • The Hartford offers premium reductions for driver training, bundle, good student, air bag, defensive driver, and vehicle fuel type.
  • American Family offers discounts including bundled insurance, multi-vehicle, TimeAway discount, defensive driver, mySafetyValet, and good student.
  • Progressive may include discounts for online quote discount, good student, homeowner, continuous coverage, multi-policy, and multi-vehicle.
  • Travelers offers discounts for early quote, save driver, home ownership, payment discounts, new car, student away at school, and hybrid/electric vehicle.
  • Farmers Insurance has savings for electronic funds transfer, early shopping, switch companies, teen driver, distant student, and mature driver.
  • USAA discounts include family discount, vehicle storage, safe driver, good student, new vehicle, and multi-vehicle.
  • Liberty Mutual includes discounts for new vehicle discount, hybrid vehicle, good student, safety features, and newly married.

It’s a good idea to ask every insurance company how you can save money. Discounts may not apply in your area. If you would like to see a list of insurers that have a full spectrum of discounts, enter your zip code here.

Tailor your auto insurance coverage to you

When buying the best auto insurance coverage for your personal vehicles, there isn’t really a single plan that fits everyone. Every insured’s situation is different.

For example, these questions could help you determine if your situation will benefit from professional help.

  • Which is better, split liability limits or combined limits?
  • How do I file an SR-22 for a DUI in my state?
  • Do all my vehicles need collision coverage?
  • Does insurance cover tools stolen from my truck?
  • Who is covered by my policy?
  • Do I have newly-acquired coverage?
  • What is roadside assistance coverage?
  • Are all vehicle passengers covered by medical payments coverage?
  • What is the difference between comprehensive and collision coverage?

If it’s difficult to answer those questions but a few of them apply, then you may want to think about talking to an agent. To find an agent in your area, simply complete your zip code.

Insurance price influencing factors

It’s important that you understand the rating factors that help determine your auto insurance rates. If you know what influences your rates, this allows you to make good choices that could help you find lower premium levels.

The list below includes some of the most common factors companies use to determine rates.

  • Don’t buy incidental coverages you don’t use – Policies have add-on coverages that you can get tricked into buying but may not be useful. Coverage for things like roadside assistance, accidental death, and membership fees are examples of these. These may sound like a good investment when buying your policy, but if they’re wasting money eliminate the coverages to reduce your premium.
  • Insure your auto and home with one company – Most larger insurers afford a discount to buyers that purchase more than one policy. It’s known as a multi-policy discount. Even if you already get this discount, it’s always a smart idea to check prices from other companies to verify if the discount is saving money.
  • Alarms and GPS tracking lowers auto insurance rates – Owning a car with a theft deterrent system can help lower your premiums. Advanced theft deterrents like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all aid in stopping vehicle theft.
  • Premiums also based on gender – Statistics demonstrate that women are safer drivers than men. That doesn’t necessarily mean that men are worse drivers. Both sexes get in auto accidents at a similar rate, but men cause more damage and cost insurance companies more money. Men also get more serious tickets like driving under the influence (DUI). Young men ages 16 to 20 have the highest risk to insure and therefore are the most expensive to insure.
  • Driver age impacts premiums – Older, more experienced drivers are more responsible, statistically cause fewer accidents and are safer drivers. Young drivers have a tendency to be inattentive when behind the wheel so auto insurance rates are higher.
  • Always keep your auto insurance policy in place – Allowing your coverage to lapse is a sure-fire way to pay more for auto insurance. And not only will insurance be more expensive, the inability to provide proof of insurance might get you a license revocation or jail time.
  • Where do you drive? – Driving more miles annually the more you’ll pay to insure it. Most insurance companies apply a rate based on how the vehicle is used. Cars and trucks that sit idle most of the time can get a lower rate than those used for commuting. A policy that improperly rates your Equinox is just wasting money. Double check that your auto insurance declarations sheet states the proper vehicle usage, because improper ratings can cost you money.

Do drivers who switch really save?

Auto insurance providers like Progressive, GEICO, Allstate and State Farm continually stream television, radio, and online ads. All the companies try to convey promises about how much you will save just by switching your coverage. That’s great but how can every company offer you a better deal? Here is how they do it.

All companies have strict underwriting profiles for a prospective insured they prefer to insure. For example, this type of driver may be between 25 and 40, has never had a claim, and has excellent credit. Anyone who fits that profile receive the lowest rate quotes and will also save a lot if they switch.

People who do not meet the ideal profile will probably be forced to pay a higher premium and this can result in the prospect going elsewhere. The trick is to say “drivers that switch” not “all people who quote” can get the lowest rates when switching. That is how insurance companies can confidently make claims like that. Because of these techniques, you absolutely need to compare price quotes frequently. It is impossible to guess which company will provide the lowest rates.

Parts of your auto insurance policy

Understanding the coverages of a auto insurance policy can help you determine the right coverages and proper limits and deductibles. Policy terminology can be impossible to understand and nobody wants to actually read their policy.

Collision coverage – Collision coverage covers damage to your Equinox resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like scraping a guard rail, hitting a mailbox and hitting a parking meter. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. Another option is to increase the deductible to bring the cost down.

Uninsured/Underinsured Motorist (UM/UIM) – This coverage gives you protection when other motorists do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as your vehicle’s damage.

Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. So UM/UIM coverage should not be overlooked.

Liability – Liability coverage can cover damage or injury you incur to other’s property or people by causing an accident. This insurance protects YOU from claims by other people, and doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000.

Liability coverage protects against things such as repair bills for other people’s vehicles, pain and suffering and medical expenses. How much coverage you buy is a decision to put some thought into, but you should buy as high a limit as you can afford.

Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP reimburse you for expenses like dental work, funeral costs and ambulance fees. They are utilized in addition to your health insurance policy or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants as well as being hit by a car walking across the street. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage

Comprehensive insurance – Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage pays for things like hitting a deer, theft and vandalism. The maximum amount a auto insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Saving money makes a lot of cents

When searching for cheaper car insurance quotes, do not buy less coverage just to save a little money. There are too many instances where someone sacrificed liability coverage limits only to regret that it was a big error on their part. Your focus should be to purchase plenty of coverage for the lowest cost but still have enough coverage for asset protection.

Consumers leave their current company for many reasons like high prices, delays in responding to claim requests, denial of a claim or even questionable increases in premium. It doesn’t matter why you want to switch finding a new company is not as difficult as it may seem.

We covered a lot of information how to compare 2020 Chevy Equinox insurance premium rates online. The most important thing to understand is the more times you quote, the better likelihood of getting cheaper car insurance. Consumers could even find that the lowest premium rates come from an unexpected company.

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