Surprisingly, a recent survey revealed that over 70% of California drivers kept their coverage with the same car insurance company for a minimum of four years, and roughly 40% of drivers have never shopped around. Drivers in America could save an average of $859 each year, but they don’t want to spend time to find affordable rates by getting comparison quotes.
The preferred way to find affordable auto insurance rates in Long Beach is to compare quotes annually from insurance carriers in California.
- First, try to learn about car insurance and the modifications you can make to lower rates. Many things that result in higher prices like at-fault accidents and a bad credit rating can be rectified by improving your driving habits or financial responsibility. Read the full article for instructions to prevent rate hikes and find overlooked discounts.
- Second, request rate estimates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only give prices from a single company like Progressive and State Farm, while independent agencies can provide prices for a wide range of insurance providers.
- Third, compare the new rate quotes to your existing policy to see if switching to a new carrier will save money. If you can save some money and change companies, make sure coverage is continuous and does not lapse.
One important bit of advice is to make sure you enter similar limits and deductibles on each price quote and and to get price quotes from every insurance company. This provides an apples-to-apples comparison and the best price quote selection.
If you have coverage now or are looking for a new policy, take advantage of these tips to buy cheaper car insurance without reducing coverage. Locating the best rates in Long Beach is really quite simple as long as you have a good starting point. Smart buyers just need to understand the most effective way to compare price quotes using one simple form.
How to Lower Your Insurance Costs
Many factors are part of the calculation when you get a price on insurance. Some of the criteria are obvious such as traffic violations, although some other factors are less obvious such as whether you are married or how safe your car is. One of the most helpful ways to save on car insurance is to to have a grasp of some of the factors that aid in calculating your policy premiums. When you understand what determines premiums, this allows you to make good choices that will entitle you to cheaper rates.
The factors shown below are a partial list of the pieces used by your company to calculate premiums.
Males pay more for auto insurance – The statistics show that females take fewer risks when driving. It does not mean women are better drivers. Women and men have at-fault accidents in similar numbers, but the males cause more damage and cost insurance companies more money. Not only are claims higher, but men have more aggressive citations like driving under the influence (DUI). Youthful male drivers generally have the highest accident percentage so they pay the highest premiums.
The example below illustrates the difference between Chevy Camaro insurance costs for male and female drivers. The rate quotes are based on no driving violations, no at-fault accidents, full coverage, $250 deductibles, single marital status, and no policy discounts are applied.
More stress means more cost – Did you know that where you work can have an impact on rates? Occupations such as real estate brokers, air traffic controllers, and medical professionals generally pay the highest average rates because of job stress and lots of time spent away from family. On the flip side, professions such as farmers, historians and retirees have lower than average premiums.
Teenagers are high risk – Older, more experienced drivers are more responsible, cost insurance companies less in claims, and usually have better credit. Drivers with little experience are statistically proven to be inattentive and easily distracted when driving with friends and because of this, their car insurance rates are much higher.
The next chart assumes a single driver, full coverage with $100 deductibles, and no discounts or violations.
Pay more out-of-pocket – Comprehensive and collision coverage deductibles tell how much you are willing to pay if you file a covered claim. Physical damage protection, also called comprehensive and collision insurance, is used to repair damage to your car. Some examples of covered claims could be colliding with a stationary object, vandalism, and damage from wind. The more damage repair cost you’re willing to pay, the less your company will charge you for insurance.
Insurance loss probability for a Chevy Camaro – Companies use claims history to help calculate a profitable premium price. Vehicles that the data determines to have higher prevalence or dollar amount of losses will cost more for coverage.
The next table shows the compiled insurance loss statistics for Chevy Camaro vehicles. For each insurance policy coverage type, the claim probability for all vehicles, regardless of make, model or trim level, is equal to 100. Numbers below 100 suggest a positive loss record, while values that are above 100 indicate a higher chance of having a claim or an increased probability of a larger loss.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Chevrolet Camaro 2dr||139||118||123||123||130||127|
|Chevrolet Camaro Convertible||92||85||107||85||95||103|
|Chevrolet Camaro ZL1 2dr||222||80||174|
|Chevrolet Camaro ZL1 Convertible||111||113|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Facts and figures for Chevy Camaro insurance
The premium table displayed next outlines a range of insurance coverage prices for Chevy Camaro models. Knowing how insurance prices are figured can aid in making smart choices when selecting a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Prices above based on single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and California minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Premium amounts do not factor in vehicle garaging location which can impact rates significantly.
Violations and accidents raise rates
The chart below illustrates how violations and at-fault fender-benders raise Chevy Camaro insurance costs for each different age category. The rates are based on a single female driver, full coverage, $250 deductibles, and no discounts are applied to the premium.
Difference between full coverage and liability only rates
The chart below visualizes the comparison of Chevy Camaro yearly insurance costs with and without physical damage coverage. The prices are based on no violations or accidents, $250 deductibles, marital status is single, and no discounts are applied to the premium.
When to stop paying for full coverage
There isn’t a written rule for phasing out physical damage insurance, but there is a general guideline. If the annual cost of your full coverage insurance is more than around 10% of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.
For example, let’s assume your Chevy Camaro claim settlement value is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would receive is $7,000 after paying the physical damage deductible. If it’s costing you more than $700 a year for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.
There are some scenarios where dropping physical damage coverage is not in your best interest. If you have an outstanding loan on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should not buy liability only.
Lower rates by qualifying for discounts
Companies that sell car insurance don’t always advertise every possible discount very well, so below is a list both the well known as well as some of the hidden credits available to bring down your rates.
- Pay Early and Save – If you pay your entire premium ahead of time rather than paying monthly you could save 5% or more.
- Good Student – A discount for being a good student can earn a discount of 20% or more. The discount lasts up to age 25.
- Discount for Low Mileage – Fewer annual miles on your Chevy could be rewarded with lower prices due to less chance of an accident.
- Student in College – Children who are attending college and do not have access to a covered vehicle could qualify for this discount.
- ABS Brakes – Cars, trucks, and SUVs equipped with ABS or steering control can stop better under adverse conditions and will save you 10% or more on Camaro insurance in Long Beach.
- Professional Organizations – Being a member of a professional or civic organization may earn a discount on car insurance.
- More Vehicles More Savings – Buying insurance for all your vehicles on the same car insurance policy can get a discount on all vehicles.
Drivers should understand that many deductions do not apply to all coverage premiums. Most cut the price of certain insurance coverages like medical payments or collision. Despite the appearance that you would end up receiving a 100% discount, insurance companies wouldn’t stay in business.
The illustration below shows the difference between Chevy Camaro insurance rates with and without policy discounts. The price estimates are based on a male driver, no driving violations, no at-fault accidents, California state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, claim-free, multi-policy, homeowner, and safe-driver discounts applied.
Companies that may offer policyholders some of the above discounts are:
Double check with each insurance company which discounts you qualify for. Some of the earlier mentioned discounts might not be offered in every state. To locate companies with the best discounts in California, click here.
Quote. Compare. Save.
While you’re price shopping online, do not buy poor coverage just to save money. There are too many instances where drivers have reduced comprehensive coverage or liability limits and found out when filing a claim that saving that couple of dollars actually costed them tens of thousands. The ultimate goal is to buy the best coverage you can find at the best price.
Some car insurance companies don’t offer the ability to get quotes online and usually these smaller providers sell through independent agencies. Budget-friendly car insurance in Long Beach is attainable both online and from local insurance agents, and you should be comparing both to get a complete price analysis.
We just covered some good ideas how you can shop for Chevy Camaro insurance online. The key concept to understand is the more quotes you get, the better likelihood of getting the cheapest Chevrolet Camaro rate quotes. You may even be surprised to find that the biggest savings come from an unexpected company. Regional companies can often insure niche markets at a lower cost compared to the large companies like Allstate or State Farm.
For more information, feel free to visit these articles:
- Avoiding Deer Collisions (Insurance Information Institute)
- Who Has Affordable Car Insurance Rates for Used Cars in Long Beach? (FAQ)
- How to shop for a safer car (Insurance Institute for Highway Safety)
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- Automakers compete to add autobraking (Insurance Institute for Highway Safety)
- What is a Telematics Device? (Allstate)