Cheap Quotes for Chevy Malibu Insurance in Durham

  1. Home
  2. >
  3. Durham Auto Insurance
  4. >
  5. Chevrolet Malibu

Chevy Malibu insurance
Chevy Malibu insurance image courtesy of QuoteInspector.com

Amazingly, a recent NerdWallet.com study showed that a large majority of drivers in North Carolina have stayed with the same insurance company for at least four years, and about 40% of consumers have never even shopped around for affordable coverage. American insurance shoppers could save almost $860 each year by just comparing rate quotes, but they don't invest the time required to compare rates.

Discount Chevy Malibu insuranceIf you want to find the absolute lowest rates, then the best way to get affordable auto insurance rates in Durham is to compare prices at least once a year from providers who provide auto insurance in North Carolina. This can be done by completing these steps.

  1. Learn about the coverage provided by your policy and the modifications you can make to lower rates. Many policy risk factors that cause rate increases like speeding tickets, accidents and a not-so-good credit rating can be rectified by paying attention to minor details. Continue reading for the details to prevent high prices and earn a bigger discount.
  2. Quote rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only quote rates from one company like GEICO or Farmers Insurance, while independent agents can give you price quotes from many different companies. View prices
  3. Compare the new rate quotes to your existing coverage to determine if switching companies saves money. If you find a better price and buy the policy, make sure coverage is continuous and does not lapse.
  4. Tell your current company to cancel your current coverage and submit a completed application and payment to your new insurance company. Once coverage is bound, safely store the certificate of insurance with your vehicle's registration.

The most important part of shopping around is to make sure you're comparing identical limits and deductibles on every quote request and and to get prices from every insurance company. Doing this ensures an apples-to-apples comparison and a thorough price selection.

If you are insured now or are looking for a new policy, follow these tips to save money while maximizing coverage. Buying the best insurance policy in Durham is not as confusing as people think. You only have to learn the quickest way to compare prices from multiple carriers.

Getting a cheaper price on insurance doesn't have to be difficult. You just need to take a couple of minutes comparing free Durham auto insurance quotes from different insurance companies.

The companies in the list below can provide price comparisons in North Carolina. If you want to find cheap car insurance in Durham, it's highly recommended you visit as many as you can to get the best price comparison.

Rates and detailed analysis

The rate table displayed next covers estimates of coverage prices for Chevy Malibu models. Understanding more about how car insurance prices are calculated is important for making smart choices when buying a policy.

Chevrolet Malibu Insurance Rates in Durham, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Malibu LS $166 $318 $262 $16 $78 $840 $70
Malibu Hybrid $166 $318 $262 $16 $78 $840 $70
Malibu LT $186 $318 $262 $16 $78 $860 $72
Malibu LTZ $186 $374 $262 $16 $78 $916 $76
Get Your Own Custom Quote Go

Table data represents married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Estimates do not factor in Durham location which can impact rates significantly.

Choosing deductibles

The hardest decision when buying coverage is how high should the physical damage deductibles be. The rates below can help you visualize the rate fluctuation when you buy lower versus higher physical damage coverage deductibles. The first price estimate table uses a $100 physical damage deductible and the second pricing table uses a $500 deductible.

Chevrolet Malibu insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Malibu LS $214 $386 $250 $14 $74 $963 $80
Malibu Hybrid $214 $386 $250 $14 $74 $963 $80
Malibu LT $242 $386 $250 $14 $74 $991 $83
Malibu LTZ $242 $456 $250 $14 $74 $1,061 $88
Get Your Own Custom Quote Go
Chevrolet Malibu insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Malibu LS $156 $262 $250 $14 $74 $756 $63
Malibu Hybrid $156 $262 $250 $14 $74 $756 $63
Malibu LT $176 $262 $250 $14 $74 $776 $65
Malibu LTZ $176 $308 $250 $14 $74 $822 $69
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, multi-vehicle, and homeowner. Estimates do not factor in vehicle garaging location which can decrease or increase rates considerably.

We can derive from the above data that using a $100 deductible will cost you roughly $18 more each month or $216 every year than buying the higher $500 deductible. Because you would be required to pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you tend to have at least 22 months between claims, you would more than likely save some money if you opt for a higher deductible.

Yearly insurance costs for men versus women

The diagram below shows the comparison of Chevy Malibu insurance rates for male and female drivers. The premium estimates are based on no claims or driving citations, comprehensive and collision coverage, $1,000 deductibles, single status, and no discounts are factored in.

Chevrolet Malibu liability rates compared to full coverage

The example below shows the difference between Chevy Malibu insurance prices when comparing full coverage to liability only. The information is based on no claims or driving violations, $250 deductibles, drivers are not married, and no discounts are taken into consideration.

When to drop comprehensive and collision coverage

There is no set rule for phasing out comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than around 10% of any settlement you would receive from your insurance company, then it's probably a good time to buy liability coverage only.

For example, let's pretend your Chevy Malibu settlement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $5,000 after the deductible is paid. If you are paying more than $500 a year to have full coverage, then it's probably a good time to buy liability coverage only.

There are some situations where eliminating full coverage is not recommended. If you still have a lienholder on your title, you have to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should keep full coverage on your policy.

Insurance just makes sense

Even though it's not necessarily cheap to insure a Chevy in Durham, paying for insurance is not optional due to several reasons.

  • The majority of states have minimum mandated liability insurance limits which means the state requires a minimum amount of liability insurance in order to drive the car. 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.
  • If your Chevy Malibu has a loan, most banks will make it a condition of the loan that you have physical damage coverage to guarantee payment of the loan. If you cancel or allow the policy to lapse, the bank will be required to insure your Chevy at an extremely high rate and require you to reimburse them much more than you were paying before.
  • Insurance safeguards both your Chevy Malibu and your personal assets. Insurance will also pay for many types of medical costs incurred in an accident. As part of your policy, liability insurance will also pay attorney fees if someone files suit against you as the result of an accident. If you have damage to your Chevy as the result of the weather or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay to have it repaired.

The benefits of carrying enough insurance more than offset the price you pay, especially with large liability claims. An average driver in America overpays as much as $850 per year so compare rate quotes at every renewal to save money.

Chevy Malibu Insurance Prices Can Be More Affordable

Part of the car insurance buying process is learning a few of the rating criteria that aid in calculating the rates you pay for car insurance. When you understand what determines base rates, this enables informed choices that can earn you lower rates.

Where you live - Living in less populated areas has it's advantages when buying car insurance. Less people translates into fewer accidents in addition to fewer liability claims. Urban drivers tend to have congested traffic and longer commutes to work. More time on the road means a statistically higher chance of an accident.

Maintain car insurance coverage - Driving without insurance can get you a ticket and companies may charge more for letting your coverage have a gap. In addition to paying higher rates, failure to provide proof of insurance could earn you a steep fine or even jail time.

Comp and collision deductibles are a factor - Coverage for physical damage, also called 'full coverage', covers your vehicle from damage. A few examples of covered claims would be running into the backend of another car, flood damage, and damage from a fallen tree branch. The deductibles are the amount of money you are willing to pay if the claim is covered. The more expense the insured has to pay upfront, the bigger discount you will receive.

Married drivers pay lower prices - Having a significant other may earn you lower rates on your car insurance policy. Having a significant other generally demonstrates drivers are more mature and statistics prove drivers who are married are more cautious.

Consolidate policies to earn discounts - Many car insurance companies will award lower prices for people who buy several policies from them, otherwise known as a multi-policy discount. Even if you already get this discount, consumers should still comparison shop to guarantee you are still saving the most.

Low credit rating equals high costs - An insured's credit score is likely to be a major factor in determining what you pay. Drivers who have high credit scores tend to be more responsible as compared to drivers with poor credit. If your credit history is not that good, you could save money insuring your Chevrolet Malibu by improving your credit score.

Tickets cost more than a fine - How you drive can have a huge impact on auto insurance premiums. Only having one moving violation may increase your cost to the point where it's not affordable. Drivers who don't get tickets have lower premiums compared to bad drivers. Drivers who have received careless violations like DWI, reckless driving or hit and run convictions may find they need to prove financial responsibility with their state's department of motor vehicles in order to legally drive.

The example below illustrates how traffic citations and at-fault fender-benders can impact Chevy Malibu yearly insurance costs for different ages of insureds. The rates are based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are factored in.

Insurance loss data for a Chevy Malibu - Insurers take into consideration insurance loss statistics for every vehicle to help determine the price you pay. Models that tend to have higher number or severity of losses will have higher premium rates.

The next table shows the compiled insurance loss statistics for Chevy Malibu vehicles. For each policy coverage, the loss probability for all vehicles, as an average, is considered to be 100. Values that are 100 or less suggest a better than average loss history, while numbers shown that are more than 100 point to more claims or tendency to have higher losses.

Auto Insurance Loss Data for Chevrolet Malibu Models
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Chevrolet Malibu 94 100 109 139 145 120
BETTER
AVERAGE
WORSE

Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Best car insurance company in Durham

Picking the top company can be rather challenging considering how many choices there are in Durham. The company information in the next section could help you choose which car insurance companies you want to consider comparing rates from.

Top 10 Durham Car Insurance Companies Overall

  1. Travelers
  2. USAA
  3. AAA Insurance
  4. Nationwide
  5. Allstate
  6. State Farm
  7. The Hartford
  8. Safeco Insurance
  9. Progressive
  10. American Family

Cheaper auto insurance premiums are possible

Drivers change insurance companies for any number of reasons including poor customer service, delays in paying claims, lack of trust in their agent or policy cancellation. Regardless of your reason for switching companies, finding a new auto insurance company can be easier than you think.

When trying to cut insurance costs, don't be tempted to sacrifice coverage to reduce premiums. In many cases, an insured cut collision coverage to discover at claim time they didn't purchase enough coverage. Your objective should be to buy the best coverage you can find for the lowest price, not the least amount of coverage.

Lower-priced Chevy Malibu insurance in Durham can be bought both online as well as from independent agents in Durham, and you need to comparison shop both in order to have the best chance of saving money. Some auto insurance companies do not offer price quotes online and most of the time these regional insurance providers only sell through independent agents.

More detailed auto insurance information can be found at these sites: