Best Quotes for Chevy Impala Insurance in Durham

Insurance rates Chevy Impala in DurhamFinding cheaper insurance for a Chevy Impala in North Carolina can turn out to be a painful process, but you can learn a few tricks and make it easy.

There are more efficient ways to buy car insurance and we’ll show you the absolute fastest way to quote coverages for a new or used Chevy and obtain the best price possible from both online companies and Durham agents.

You need to compare premium rates quite often because car insurance rates go up and down regularly. Just because you had the best rate on Chevy Impala insurance in Durham six months ago you can probably find a better price now. There is lot of inaccurate information about Impala insurance online, but you can learn a lot of great tips on how to reduce your car insurance bill.

Finding quotes for the best insurance in Durham is not as hard as you think. If you are already insured or need a new policy, take advantage of these tips to find the best rates and possibly find even better coverage. Shoppers just need to use the least time-consuming way to shop from many different companies.

Lowering your Chevy Impala car insurance rates is not a difficult process. You just have to invest a little time getting comparison quotes online from several insurance companies.

The companies shown below offer quotes in North Carolina. If your goal is to find the best car insurance in North Carolina, we recommend you visit as many as you can in order to find the lowest rates.

Insurance rate breakdown

The rate information below outlines detailed analysis of insurance costs for Chevy Impala models. Knowing how insurance rates are calculated can assist in making informed decisions when comparing rates.

Chevrolet Impala Insurance Rates in Durham, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Impala LS $182 $446 $302 $18 $90 $1,038 $87
Impala LS $182 $446 $302 $18 $90 $1,038 $87
Impala LT $210 $446 $302 $18 $90 $1,066 $89
Impala LT $210 $446 $302 $18 $90 $1,066 $89
Impala LTZ $210 $524 $302 $18 $90 $1,144 $95
Impala LTZ $210 $524 $302 $18 $90 $1,144 $95
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Above prices assume single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Premium costs do not factor in specific garaging location which can lower or raise rates significantly.

Where to set your deductibles

One of the most common insurance questions is how high or low should comp and collision deductibles be. The following tables summarize how much more rates are when you choose different deductibles. The first rate estimation uses a $250 physical damage coverage deductible and the second rate chart uses a $1,000 deductible.

Chevrolet Impala insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Impala LS $168 $324 $250 $14 $74 $855 $71
Impala LS $168 $324 $250 $14 $74 $855 $71
Impala LT $192 $324 $250 $14 $74 $879 $73
Impala LT $192 $324 $250 $14 $74 $879 $73
Impala LTZ $192 $382 $250 $14 $74 $937 $78
Impala LTZ $192 $382 $250 $14 $74 $937 $78
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Chevrolet Impala insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Impala LS $104 $204 $250 $14 $74 $646 $54
Impala LS $104 $204 $250 $14 $74 $646 $54
Impala LT $118 $204 $250 $14 $74 $660 $55
Impala LT $118 $204 $250 $14 $74 $660 $55
Impala LTZ $118 $240 $250 $14 $74 $696 $58
Impala LTZ $118 $240 $250 $14 $74 $696 $58
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Rate quotes do not factor in vehicle garaging location which can revise rates noticeably.

We can derive from the above data that using a $250 deductible would cost the average driver about $18 more each month or $216 for a full year averaged for all Impala models than buying the higher $1,000 deductible. Since you would have to pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you go more than 42 months between claims, you would probably be better off if you decide on a higher deductible. The table below illustrates how you can perform this determination yourself.

Average monthly premium for $250 deductibles: $74
Average monthly premium for $1,000 deductibles (subtract): – $56
Monthly savings from raising deductible: $18
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $18
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 42 months

One thing to be aware of is that raising deductibles to save money means you will have to pay more when you have a comprehensive or collision claim. You should have some funds available in the event you need to pay more to get your vehicle repaired.

Age-based insurance rates by gender in Durham

The example below illustrates the comparison of Chevy Impala car insurance costs for male and female drivers. Data assumes no violations or accidents, comprehensive and collision coverage, $1,000 deductibles, marital status is single, and no other discounts are factored in.

Difference between liability only and full coverage rates

The chart below shows the difference between Chevy Impala annual premium costs with full physical damage coverage and with liability coverage only. The premiums are based on no claims, a clean driving record, $250 deductibles, drivers are not married, and no discounts are taken into consideration.

When to stop buying physical damage coverage

There is no set rule of when to stop paying for physical damage coverage, but there is a general guideline you can use. If the annual cost of your full coverage insurance is more than 10% of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.

For example, let’s assume your Chevy Impala claim settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $4,000 after paying your policy deductible. If you are currently paying more than $400 annually to have full coverage, then you might want to consider buying only liability coverage.

There are some scenarios where dropping physical damage coverage is not recommended. If you haven’t satisfied your loan, you must maintain physical damage coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.

How Your Impala Insurance Rates are Determined

Many different elements are used when you get a price on insurance. Some are pretty understandable such as your driving history, but other criteria are less apparent like where you live and annual miles driven.

Cars with good safety ratings save money – Cars with five star safety ratings tend to have better insurance rates. Highly rated vehicles reduce the chance of injuries and lower rates of occupant injuries translates into fewer and smaller insurance claims which can result in lower premiums. If your Chevy Impala has at least an “acceptable” rating on the Insurance Institute for Highway Safety website it may be receiving lower rates.

Improve your credit rating and save – Your credit rating is likely to be a major factor in determining your rates. Insureds that have very good credit scores tend to be more responsible as compared to drivers with lower ratings. If your credit rating could use some work, you could save money insuring your Chevrolet Impala by taking the time to improve your credit score.

Job impacts rates – Careers like judges, business owners, and financial analysts usually pay the highest average rates because of stressful work requirements and lots of time spent at work. Other jobs such as actors, athletes and retirees pay the least.

Put fewer miles on your vehicle – The more you drive your Chevy annually the higher your rate. A lot of insurance companies rate vehicles based upon how the vehicle is primarily used. Autos that are left in the garage receive lower rates than vehicles that are driven to work every day. Improper usage on your Impala may be costing you higher rates. It’s always a good idea to double check that your car insurance coverage properly reflects the correct driver usage, because improper ratings can cost you money.

Get better rates if married – Walking down the aisle actually saves money on your policy. Marriage demonstrates that you tend to be more stable financially it has been statistically shown that married couples file fewer claims.

Rates go up with performance – The type of car or truck you need insurance for makes a big difference in your premium level. Lower cost passenger cars generally have the cheapest insurance rates, but many other things help determine your insurance rates.

The following data is based on a married female driver age 20, full coverage with $500 deductibles, and no discounts or violations. It illustrates Chevrolet Impala insurance premiums compared to other vehicles that have a range of performances.

Loss probability for a Chevy Impala – Insurers factor in historical loss data to calculate a price that will offset any claims. Models that tend to have higher frequency or amount of claims will have higher rates for specific coverages. The table below shows the compiled insurance loss statistics for Chevy Impala vehicles.

For each coverage category, the statistical loss for all vehicles, as an average, equals 100. Values under 100 suggest a positive loss record, while percentage values above 100 indicate more frequent losses or a tendency for claims to be larger.

Chevrolet Impala Insurance Loss Statistics
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Chevrolet Impala 104 89 135 122 122 104
Chevrolet Impala Limited 100 115 79 142 148 153

Statistics from for 2013-2015 Model Years

Why you need to buy auto insurance

Even though it can be expensive, paying for auto insurance is a good idea for several reasons.

First, most states have minimum liability requirements which means it is punishable by state law to not carry specific limits of liability protection in order to drive the car legally. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.

Second, if you took out a loan on your car, more than likely the lender will require you to have physical damage coverage to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the bank may insure your Chevy for a lot more money and require you to fork over the higher price.

Third, auto insurance protects both your assets and your vehicle. It will also reimburse you for medical bills for not only you but also any passengers injured in an accident. As part of your policy, liability insurance also covers all legal expenses up to the policy limit if you are sued as the result of an accident. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.

The benefits of carrying adequate insurance are without a doubt worth the cost, especially if you ever need it. In a recent study of 1,000 drivers, the average customer overpays more than $820 a year so smart consumers compare quotes once a year at a minimum to help ensure money is not being wasted.