Do you want to learn to get lower-priced Chevy Malibu insurance in Chicago? Trying to find better insurance prices for your Chevy Malibu in Illinois can turn out to be an all-consuming task, but you can learn our insurance buying tips to save time.
There are both good and bad ways to find insurance online and you need to know the proper way to get price quotes for your Chevy and find the cheapest rates either online or from Chicago insurance agents.
Smart consumers take time to get comparison quotes periodically because prices are constantly changing. Even if you think you had the lowest rates on Chevy Malibu insurance in Chicago a year ago other companies may now be cheaper. Ignore everything you know about insurance because you’re about to learn one of the best ways to save money, get proper deductibles and limits, all at the lowest rate.
Ways to get Chevy Malibu insurance quotes in Chicago, IL
The car insurance companies shown below provide comparison quotes in Illinois. If multiple companies are shown, it’s highly recommended you visit as many as you can in order to find the lowest rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Malibu LS | $142 | $282 | $294 | $18 | $88 | $824 | $69 |
| Malibu Hybrid | $250 | $500 | $352 | $20 | $106 | $1,228 | $102 |
| Malibu LT | $220 | $334 | $266 | $16 | $80 | $916 | $76 |
| Malibu LTZ | $218 | $468 | $294 | $18 | $88 | $1,086 | $91 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Illinois minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, multi-vehicle, and claim-free. Price information does not factor in specific garaging location which can change auto insurance rates considerably.
Irresponsible driving raises your rates
The chart below highlights how traffic violations and accident claims can raise Chevrolet Malibu car insurance rates for different age groups. The price estimates are based on a married female driver, full coverage, $100 deductibles, and no discounts are applied to the premium.
Premiums by gender and age
The example below illustrates the comparison of Chevrolet Malibu insurance costs for male and female drivers. The data is based on no claims or driving violations, full physical damage coverage, $100 deductibles, single marital status, and no discounts are applied.
How much more does full coverage cost in Chicago?
The chart below shows the difference between Chevrolet Malibu insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Illinois. The premiums are based on no claims or violations, $250 deductibles, married male driver, and no discounts are applied.
When to stop buying physical damage coverage
There is no definitive rule for dropping full coverage on your policy, but there is a general guideline. If the annual cost of your full coverage insurance is more than about 10% of replacement cost minus your deductible, then it might be time to consider dropping full coverage.
For example, let’s pretend your Chevrolet Malibu book value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $3,000 after paying your deductible. If you are currently paying more than $300 a year for physical damage coverage, the it may be a good time to stop paying for full coverage.
There are some scenarios where buying only liability insurance is not in your best interest. If you still have a loan on your vehicle, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should keep full coverage.
Chicago insurance discounts for a Chevy Malibu
Insurance is not inexpensive, but discounts can save money and there are some available that can drop the cost substantially. Larger premium reductions will be automatically applied at the time of purchase, but once in a while a discount must be asked about before being credited.
- Telematics Data – Chicago drivers who agree to allow their insurance company to look at when and where they use their vehicle remotely such as Progressive’s Snapshot could save a few bucks if they show good driving skills.
- Bundled Policy Discount – When you have multiple policies and insure them with the same company you could save up to 20% off your total Malibu insurance premium.
- Homeowners Savings – Being a homeowner may earn you a small savings because maintaining a house requires a higher level of personal finance.
- Smart Student Discounts – Getting good grades can save 20 to 25%. You can use this discount normally well after school through age 25.
- Seat Belts Save more than Lives – Requiring all passengers to use their safety belts can save 10% or more on the medical payments or PIP coverage costs.
- Low Miles Discount – Low mileage vehicles may enable drivers to earn slightly better rates than normal.
A little disclaimer on discounts, most credits do not apply to the overall cost of the policy. Most only reduce the cost of specific coverages such as comprehensive or collision. So despite the fact that it appears adding up those discounts means a free policy, that’s just not realistic.
Some companies that may have these money-saving discounts may include but are not limited to:
- State Farm
- Liberty Mutual
- American Family
- Progressive
- Farmers Insurance
- Auto-Owners Insurance
- SAFECO
Double check with each company the best way to save money. Some of the discounts discussed earlier might not be offered on policies in your state.
Why You Might Pay Lower Rates in Chicago
It’s important that you understand some of the elements that play a part in calculating your policy premiums. When you know what positively or negatively determines base rates, this empowers consumers to make smart changes that may result in lower auto insurance prices. Lots of factors are used in the calculation when premium rates are determined. Some are pretty understandable such as your driving record, but other criteria are more obscure such as your marital status and annual miles driven.
Better auto insurance rates with anti-theft devices – Choosing to buy a car with anti-theft technology or alarm system can get you a discount on your auto insurance. Systems that thwart thieves like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all help stop auto theft.
Being married equates to better rates – Walking down the aisle helps lower the price compared to being single. It means you’re more responsible it has been statistically shown that married drivers tend to file fewer claims.
Older drivers save more – Older people have been proven to be more responsible, tend to cause fewer accidents, and usually have better credit.Inexperience drivers are proven to be careless and easily distracted in a vehicle so they pay higher auto insurance rates.
Too many claims and you’ll pay more – Auto insurance companies in Illinois give cheaper rates to drivers who do not rely on their insurance for small claims. If you frequently file small claims, you can expect either higher rates or even cancellation. Insurance coverage is intended for major claims that would cause financial hardship.
Where do you drive? – Driving more miles in a year the more you’ll pay to insure it. Almost all companies rate vehicles determined by how the vehicle is used. Cars and trucks used primarily for pleasure use can get a lower rate than those that get driven frequently. Verify your auto insurance policy reflects the proper vehicle usage. Incorrect rating for your Malibu may be costing you.
Chevy Malibu claim probability – Auto insurance companies study historical loss data when setting premium prices. Models that the statistics show to have higher loss trends will have higher rates. The next table illustrates the insurance loss data for Chevy Malibu vehicles.
For each type of coverage, the claim probability for all vehicles compiled together is set at 100. Values that are under 100 indicate a favorable loss history, while percentage values above 100 indicate more frequent claims or a tendency for losses to be larger than average.
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 |
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Can’t I compare rate quotes from local Chicago auto insurance agents?
Certain consumers would rather talk to a local agent and that is recommended in a lot of cases Experienced insurance agents can point out coverage gaps and give you someone to call. A nice benefit of comparing rate quotes online is you may find the lowest rates but still work with a licensed agent. Buying from neighborhood agents is definitely important in Chicago.
After completing this quick form, the coverage information is instantly submitted to participating agents in Chicago who can give free rate quotes and help you find cheaper coverage. There is no need to contact any insurance agencies since price quotes are sent to your email. If you want to get a price quote from one company in particular, don’t hesitate to navigate to their website and submit a quote form there.
Exclusive or Independent: There is a difference
When searching for a reliable agent, you should know the types of agencies from which to choose. Auto insurance agencies can either be independent (non-exclusive) or exclusive. Both types can handle auto insurance, but it is a good idea to know the difference in the companies they write for since it may influence your selection of an agent.
Independent Auto Insurance Agencies
Independent agents are normally appointed by many insurers so as a result can place your coverage through many different auto insurance companies and find you the best rates. To move your coverage to a new company, your policy is moved internally and you don’t have to find a new agent. When comparing auto insurance rates, you should always get quotes from a few independent agents for maximum quote selection. Many can place coverage with companies that do not advertise much that may provide cheaper auto insurance rates.
Featured below are independent insurance agencies in Chicago that may be able to provide price quotes.
- Serpe Insurance Agency
2538 N Lincoln Ave – Chicago, IL 60614 – (773) 871-0808 – View Map - Illinois Vehicle Auto Insurance
100 W. Randolph, Suite C14 – Chicago, IL 60601 – (312) 201-9111 – View Map - Edwards Insurance Agency, Inc.
11113 S Kedzie Ave – Chicago, IL 60655 – (773) 396-5526 – View Map
Exclusive Insurance Agents
Exclusive agencies can only write with one company such as Farmers Insurance or State Farm. They generally cannot provide prices from multiple companies so always compare other rates. Exclusive agencies are very knowledgeable on their company’s products which helps them sell insurance even at higher premiums. Many people buy from exclusive agents partially due to the brand legacy and the convenience of having all coverages with one company.
The following is a short list of exclusive insurance agents in Chicago that can give you price quote information.
- Mark Mackey – State Farm Insurance Agent
3338 W Foster Ave – Chicago, IL 60625 – (773) 604-4334 – View Map - Roni Siegel – State Farm Insurance Agent
860 N Clark St – Chicago, IL 60610 – (312) 751-0500 – View Map - Glenda Tolentino-Moser – State Farm Insurance Agent
2015 W Montrose Ave – Chicago, IL 60618 – (773) 549-3300 – View Map
Finding a good insurance agency needs to be determined by more than just the quoted price. Here are some questions to ask:
- If your car is totalled, how to they determine the replacement cost?
- Do they write coverage based solely on cost?
- Are claims handled at the agent’s location?
- Which companies do they recommend if they are an independent agency?
- What discounts might you be missing?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
After you get good feedback for all questions you ask as well as affordable Chevrolet Malibu insurance rates in Chicago quotes, it’s a good possibility that you have found an insurance agent that can properly insure your vehicles. Just remember it’s your policy and you can cancel your coverage whenever you choose to so never assume that you’re stuck with your new company with no way to switch.
What is YOUR best insurance company?
Insureds change insurance companies for any number of reasons including an unsatisfactory settlement offer, being labeled a high risk driver, not issuing a premium refund and even lack of trust in their agent. Regardless of your reason for switching companies, switching insurance companies is easier than you think.
In this article, we presented many ways to save on Chevy Malibu insurance in Chicago. The key thing to remember is the more companies you get car insurance rates for, the better likelihood of getting affordable Chicago car insurance quotes. Consumers could even find that the biggest savings come from the least-expected company.
Some insurance providers do not offer rates over the internet and usually these small, regional companies provide coverage only through independent agencies. Affordable Chevy Malibu insurance in Chicago is attainable online and from local insurance agents, and you should compare rates from both in order to have the best chance of saving money.
Much more information about insurance in Illinois can be read at the links below
- Vehicle Insurance in the U.S. (Wikipedia)
- Who Has the Cheapest Chicago Auto Insurance for a Nissan Rogue? (FAQ)
- Who Has Cheap Car Insurance Rates for 16 Year Olds in Chicago? (FAQ)
- What Car Insurance is Cheapest for Immigrants in Chicago? (FAQ)
- Who Has Cheap Auto Insurance for Teenage Females in Chicago? (FAQ)
- Who Has Cheap Car Insurance for Uber Drivers in Chicago? (FAQ)
- What Car Insurance is Cheapest for a Jeep Wrangler in Chicago? (FAQ)
- Child Safety FAQ (iihs.org)
- Understanding Car Crashes Video (iihs.org)
- Auto Insurance Learning Center (State Farm)
- Automakers compete to add autobraking (Insurance Institute for Highway Safety)