Buying competitive car insurance for a Chevrolet Equinox depends on a fairly complex equation with a lot of factors such as age of the driver, your credit rating, and any driving offenses on your record. California drivers will pay on average $1,327 annually to insure their Equinox, but that is a valuation based upon a 50-year-old married male driver with full physical damage coverage and $100 deductibles.
The issue that arises when projecting rates is that it’s very likely that you’re not a 50-year-old male, maybe you are single instead of married, or maybe you have a teenager that needs to be on your policy. Not everyone needs the same coverages, so the only real way to find the cheapest coverage for your Chevrolet is to compare as many rates as you can.
The specific trim level impacts the annual cost of coverage, so the cost to insure a Equinox LS 2WD will be $142 less than the insurance cost for the more expensive Equinox LTZ AWD model, as shown in the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Equinox LS 2WD||$296||$584||$424||$26||$126||$1,456||$121|
|Equinox LT 2WD||$296||$584||$424||$26||$126||$1,456||$121|
|Equinox LS AWD||$296||$584||$424||$26||$126||$1,456||$121|
|Equinox LT AWD||$296||$584||$424||$26||$126||$1,456||$121|
|Equinox LTZ 2WD||$334||$688||$424||$26||$126||$1,598||$133|
|Equinox LTZ AWD||$334||$688||$424||$26||$126||$1,598||$133|
|Equinox LTZ AWD||$334||$688||$424||$26||$126||$1,598||$133|
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Prices above based on married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and California minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Estimates do not factor in specific location which can lower or raise insurance rates noticeably.
Deciding which company offers the best insurance rates for a Chevrolet Equinox will take a bit more work than just quoting one company’s rates. Each insurance company has their own unique process for setting rates, so let’s examine the most competitive insurance companies in California.
Find Cheaper Car Insurance for Your Equinox
|Rank||Company||Cost Per Year|
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USAA has some of the most affordable car insurance rates in Stockton at around $1,143 a year. This is $508 less than the average rate paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide are also some of the best Stockton, CA insurance companies.
In the above rates, if you currently have a policy with Wawanesa and switched to USAA, you may see an annual savings of roughly $3. Drivers with Century National could save as much as $35 a year, and CSAA policyholders might realize rate reductions of up to $43 a year.
To see if your current coverage is too expensive, click here to begin a quote or visit any of the companies below.
These prices are averaged across all ages of drivers and types of vehicles and and are not calculated with an exact location for a Chevrolet Equinox. So the auto insurance company that has the cheapest rates for you may not even be in the list above. That emphasizes why you need to compare prices as often as possible using your own individual information.
The illustration below illustrates how choosing a deductible can increase or decrease premium costs when researching cheap insurance for a Chevrolet Equinox. Data assumes a single male driver, full physical damage coverage, and no discounts are applied.
A 50-year-old driver could pocket $506 a year by increasing from a $100 deductible up to a $500 deductible, or save $762 by selecting a $1,000 deductible. Even younger insureds, like the 20-year-old, can cut up to $1,674 annually by using a higher deductible. When increasing deductibles, it is a good idea to have plenty of discretionary funds to offset the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
Should you buy full coverage?
Reducing premiums for insurance should be important to the majority of vehicle owners, and one of the best ways to find cheap insurance for a Chevrolet Equinox is to only pay for liability coverage. The information below illustrates the difference between insurance costs with liability coverage only compared to full coverage. The price estimates are based on no accidents or driving violations, $1,000 deductibles, marital status is single, and no other discounts are factored in.
If all age groups are averaged, full coverage on your policy costs $2,188 per year over and above liability coverage. That is a large expense which might make you wonder when is the right time to remove full coverage. There is no specific rule for dropping physical damage insurance, but there is a guideline you can use. If the yearly cost of full coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.
For example, let’s say your vehicle’s settlement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $5,000 after the policy deductible has been paid. If you are paying in excess of $500 annually for comprehensive and collision coverage, then you might want to think about dropping full coverage.
There are a few situations where only buying liability is not in your best interest. If you still have a lienholder on your title, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should keep full coverage.
Tips for buying economical car insurance for a Chevrolet Equinox
Below you’ll find a few money-saving ideas that can help California drivers get cheap coverage.
- Pay for small claims rather than turning them in to your insurance company
- Drop full coverage on older vehicles
- Raise your physical damage coverage deductibles
- Do not get into accidents that are your fault
- Ensure your driving record is clean
- Compare prices as often as possible
The last item on the list is very important, as was emphasized in the prior information. Auto insurance prices change frequently, so drivers shouldn’t be resistant to buy a policy from a new company if a more affordable price is available.
We understand brand loyalty, but it’s not recommended if that devotion results in you overpaying lots of hard earned cash every month. It only takes a couple minutes to compare rates and find cheaper car insurance for a Chevrolet Equinox in Stockton.