How Much Does Insurance Cost for a Chevrolet Equinox in Michigan?

Our editors have a joke that when writing about car insurance, the words “cheap” or “affordable” shouldn’t be used anywhere in the article to describe car insurance prices. The fact is, cheap auto insurance for a Chevrolet Equinox can seem impossible to find. Don’t let that discourage you, because we are going to tell you how you can still find and buy coverage that is cheaper than your current rate.

Your ability to find cheaper auto insurance for a Chevrolet Equinox in Michigan relies on things like the number of years you have been driving, if you have prior claims, and any driving offenses on your record. Drivers in Michigan pay an average of $2,390 a year to insure their Equinox, but that price is a ballpark figure that uses a 50-year-old single female driver who purchased full physical damage coverage and $100 policy deductibles.

When making auto insurance estimates, the issue arises that you are not 50 years old and maybe not even female, possibly married instead of single, or maybe you don’t qualify for the same discounts. Just a minor difference in the rating input factors can lead to a big change in the rate quoted for a Chevrolet Equinox.

Not everyone needs the same coverages, so your best chance at finding cheap insurance prices for your Chevrolet is to get into the habit of shopping around regularly. Get your free quotes now and you can get rates from top-rated car insurance companies that insure Chevrolet vehicles in Michigan.

Insure Your Chevrolet for Less

The specific trim level will likely have an effect on the yearly cost, so the price you will be charged to insure a Equinox LS 2WD model will cost $252 less than the cost to insure the higher-priced Equinox LTZ AWD version, as shown in the chart below.

Premium data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Michigan minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Rates do not factor in garaging location in Michigan which can increase or decrease insurance rates significantly.

Deciphering which insurers offer the cheapest insurance rates for a Chevrolet Equinox will require more time in order to find the best price.

Each company has their own guidelines for establishing rates, so we’ll go over the most competitive insurance companies in Michigan.

Find the Best Cheap Insurance for Your Equinox

Compare Rates Today

USAA normally has some of the cheapest car insurance rates in Michigan at around $949 per year. GEICO, Safeco, MetLife, and MEEMIC would also make the list of some of the lowest-priced Michigan insurance companies.

As shown in the rates above, if you have coverage with Safeco and switched to USAA, you could realize a yearly price reduction of approxmiately $130. Michigan drivers with MetLife may save as much as $415 a year, and MEEMIC policyholders might lower prices by up to $459 a year.

These policy prices are averaged across all ages of drivers and types of vehicles and do not factor in a specific rate factor for a Chevrolet Equinox. So the company that fits you best may not even be included in the list of companies shown earlier. That’s why you need to quote rates from as many companies as possible using your own driver data and vehicle information.

The illustration below shows how choosing a deductible can impact yearly insurance costs when quoting cheap insurance for a Chevrolet Equinox. The rates are based on a single female driver, full coverage, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 7129,6507,5827,5183],[‘Age 30’, 4957,4505,3989,3499],[‘Age 40’, 4583,4175,3711,3269],[‘Age 50’, 4005,3649,3243,2855],[‘Age 60’, 3869,3523,3133,2759],[‘Age 70’, 4495,4103,3669,3259]]);var options = {title: ‘Impact of Deductible Levels on Chevrolet Equinox Insurance Rates in Michigan’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Insurance Cost for a Chevrolet Equinox’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

In the chart above, a 40-year-old driver could pocket $762 a year by switching from a $100 deductible to a $500 deductible, or save $1,150 by choosing a $1,000 deductible. Even younger insureds, such as the 20-year-old example, could possibly save $1,946 or more by choosing a larger deductible amount.

If you make the decision to raise deductibles, it will be required to have additional savings on hand to offset the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.

How careless driving impacts Michigan insurance rates

A great way to receive the cheapest insurance premiums in Michigan for an Equinox is to be a safe driver and not get tickets or have accidents. The chart below illustrates how speeding tickets and fender-benders increase auto insurance rates for each different age group. The data assumes a married female driver, comprehensive and collision coverage, $500 deductibles, and no other discounts are factored in.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘One Speeding Ticket and No Accidents’, ‘One Speeding Ticket and Two Accidents’],[‘Age 20’, 4213,4707,9119],[‘Age 30’, 2919,3409,7823],[‘Age 40’, 2897,3389,7805],[‘Age 50’, 2549,3039,7455],[‘Age 60’, 2421,2915,7325],[‘Age 70’, 2619,3109,7523]]);var options = {title: ‘Effect of Violations and Accidents on Michigan Chevrolet Equinox Insurance’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Insurance Cost for a Chevrolet Equinox in Michigan’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

The data above shows the average cost of a car insurance policy in Michigan per year with no violations or accidents is $2,936. Get written up for one speeding ticket and the average cost rises to $3,428, an increase of $492 each year. Then throw in two accidents along with the one speeding ticket and the 12-month cost of insurance for a Chevrolet Equinox jumps again to an average of $7,842. That’s an increase of $4,905, or $409 per month, just for not driving carefully!

Allstate, Geico, Progressive, and State Farm compared

When researching insurance for an Equinox in Michigan, four companies to consider are Allstate, Geico, Progressive, and State Farm. They all have the same basic coverages, but each one has different optional coverages and features that can influence your buying decision. The data below compares some of the different options and features that may be available in your state.