Finding economical car insurance for a Chevrolet Equinox can be pretty simple, but it depends on many different factors such as driver age, whether or not you have prior claims, and your policy deductibles. Drivers in North Carolina will pay on average $662 annually to insure their Equinox, but that amount is a projection calculated using a 40-year-old married male driver with both comprehensive and collision coverage and $500 deductibles.
Most likely you aren’t exactly 40 years old or even a male, possibly single instead of married, and maybe you have sub-par credit that needs to be factored in. The different assumptions illustrate why the only way to find the cheapest insurance price for your Chevrolet is to compare rates from as many companies as possible. Do a quick rate comparison now and you will be able to compare rates from top-rated car insurance companies around.
Your Chevrolet’s trim level will likely have an effect on the coverage cost, so the cost to insure a Equinox LS 2WD will cost $62 less than the price to insure the high end Equinox LTZ AWD model, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Equinox LS 2WD||$142||$240||$256||$16||$76||$730||$61|
|Equinox LT 2WD||$142||$240||$256||$16||$76||$730||$61|
|Equinox LS AWD||$142||$240||$256||$16||$76||$730||$61|
|Equinox LT AWD||$142||$240||$256||$16||$76||$730||$61|
|Equinox LTZ 2WD||$160||$284||$256||$16||$76||$792||$66|
|Equinox LTZ AWD||$160||$284||$256||$16||$76||$792||$66|
|Equinox LTZ AWD||$160||$284||$256||$16||$76||$792||$66|
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Cost estimates assume married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Rates do not factor in the specific area where the vehicle is garaged which can affect coverage rates greatly.
Finding out which companies have the most affordable auto insurance rates for a Chevrolet Equinox involves a little more work than just comparing a company or two.
Every insurance company uses a slightly different approach to set premium rates, so let’s take a look at the most competitive auto insurance companies in North Carolina.
Find Cheaper Auto Insurance for Your Equinox
|Rank||Company||Cost Per Year|
|4||NC Farm Bureau||$709|
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Progressive quotes some of the best car insurance rates in Durham at around $632 annually. Utica National, Liberty Mutual, NC Farm Bureau, and GEICO also rank well as some of the best Durham, NC auto insurance companies.
As shown in the table above, if you currently have coverage with NC Farm Bureau and switched to Utica National, you could earn a yearly savings of roughly $54. Drivers with GEICO could save as much as $65 a year, and Titan customers might lower prices by up to $82 a year.
If you would like to find cheaper car insurance rates, click here to start your custom quote or feel free to get quotes from the companies below.
It’s important to note that these premiums are averaged across all insureds and vehicles and and are not figured with an exact zip code location for a Chevrolet Equinox. So the company that can offer you the best price may not even be in the top 20 companies in the list above. That helps illustrate why you need to get car insurance quotes using your own specific driver and vehicle information.
Types of discounts on Durham auto insurance rates
Insurers that offer quotes for a Chevrolet Equinox may provide premium discounts that could reduce prices by as much as 25% or more if you are eligible to receive them. Large auto insurance companies and a partial list of their discounts are outlined below.
- Farmers Insurance may have discounts that include business and professional, good student, bundle discounts, switch companies, and mature driver.
- State Farm discounts include multiple policy, Drive Safe & Save, accident-free, Steer Clear safe driver discount, and driver’s education.
- Liberty Mutual policyholders can earn discounts including new move discount, safety features, newly retired, new vehicle discount, and multi-car.
- MetLife may offer discounts for accident-free, multi-policy, good student, defensive driver, and claim-free.
- Progressive offers premium reductions for multi-policy, online quote discount, homeowner, continuous coverage, and good student.
The information below shows the comparison of yearly insurance costs with and without some available policy discounts. The data is based on a male driver, no claims or driving citations, North Carolina state minimum liability limits, comp and collision included, and $500 deductibles.
The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with multiple vehicle, anti-theft, homeowner, safe-driver, claim-free, and defensive driving course discounts applied. When drivers take advantage of discounts, theaverage yearly reduction on auto insurance for a Chevrolet Equinox is 28% or $416.
The example below demonstrates how deductibles can impact insurance costs when getting quotes for cheap insurance for a Chevrolet Equinox. The prices are based on a married male driver, comp and collision included, and no discounts are factored in.
The data above shows that a 30-year-old driver could lower rates by $228 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $346 by choosing a $1,000 deductible. Young drivers, like the Age 20 category, could drop their prices as much as $692 every year just by choosing higher deductibles.
If you do make the decision to raise your deductibles, it’s a good idea to have additional savings on hand to satisfy the extra out-of-pocket expense, which deters some people from using high deductibles.
Your cheap Equinox insurance may actually be overpriced
Durham, NC auto insurance rates are calculated based on many things that can increase the price of your policy. Simply turning a year older, getting divorced, or getting a driving violation may cause policy rate changes resulting in some companies being more affordable than before.
In addition to those changes, insurers change premium rates multiple times each year in order to protect their financial rating. Larger than normal claims may cause rate increases, while profitable underwriting may produce lower-priced Equinox insurance rates.
The data below compares the cheapest car insurance in Durham, NC for a 40-year-old male driver with a clear driving record, no claims, and a good credit history. Based on his personal risk profile, Progressive has the most affordable car insurance rates in Durham at $723 a year. This is $149 less than the average policy premium paid by North Carolina drivers of $872. Utica National, Liberty Mutual, Penn National, and NC Farm Bureau are also on the list of the best Durham, NC auto insurance companies.
The chart below compares rates after we give the driver from above a chargeable claim, a lower credit score, and a traffic citation. Due to the fact that every insurance company has their own guidelines for setting rates, analyzing rates may result in a significantly different list of affordable companies as shown below.
State Farm now has the lowest price in Durham, NC with Titan, Auto-Owners, Travelers, and National General also being competitive. This example illustrates why consumers need to do a thorough rate comparison when trying to get the cheapest car insurance quotes for a Chevrolet Equinox.
Insurance prices can be determined by many factors and can increase or decrease at any time, so the best price a year ago may now be one of the higher cost companies.
If you aren’t sure which coverage to buy and prefer to have some professional guidance when trying to find the best insurance rates for a Chevrolet Equinox, the agencies below can most likely help you decide which coverage fits your budget. To locate a Durham insurance agent close to where you live, click the button link following the list or click here to compare rates now.
- Chuck Barham State Farm®
3823 Guess Rd – Durham, NC 27705 – (919) 477-7300
- Shawn Cockerham – State Farm Insurance Agent
5518 NC-55 – Durham, NC 27713 – (919) 316-3276
- Mike Embree Insurance Agency
3813 University Dr – Durham, NC 27707 – (919) 489-7336
- Bull City Insurance
121 Sherron Rd #302 – Durham, NC 27703 – (919) 596-0671
How to find budget-friendly auto insurance for a Chevrolet Equinox
Below you’ll find many money-saving solutions that can help Durham drivers buy cheaper coverage.
- Accidents can significantly increase rates
- Better credit scores save money
- Choose a safer vehicle and pay lower rates
- Raise deductibles to save money
- Just one traffic violation will increase your rates
- Compare rates often to find the best deal
The last idea is extremely necessary, as was affirmed in the article above. Car insurance prices can change considerably in a year, so drivers shouldn’t be reluctant to switch to a new company if a better rate can be found.
Being loyal to a particular company is commendable, but it isn’t a good idea if that stubbornness costs you money that could be spent on other things. Spend a few minutes and shop around to find cheaper auto insurance for a Chevrolet Equinox in Durham.