Cheapest Insurance for a Chevrolet Malibu in Illinois

The odds of finding the cheapest car insurance for a Chevrolet Malibu in Illinois is contingent on a large number of factors like whether you are married, if you have ever let your coverage lapse, and if you have a clean driving record. Drivers in Illinois on average pay approximately $650 each year to buy insurance for a Chevrolet Malibu, but that amount is a ballpark figure calculated based on a 30-year-old married female driver that purchased full physical damage coverage and $500 deductibles.

But there is a good chance that you are not 30 and possibly not even female, you might be single instead of married, and you might want liability-only or different deductibles. Auto insurance is not “one size fits all”, so the only way to find cheap auto insurance rates for your Chevrolet is to just compare rates yourself. Quotes are always free and you will receive prices from some of the cheapest companies that insure vehicles in Illinois.

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Your Chevrolet’s trim level tends to have a direct impact on the cost of insurance, so the price you will be charged to insure a Malibu LS will cost $68 less than the insurance cost for the more expensive Malibu LTZ version, as shown in the table below.

Premium data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Illinois minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Information does not factor in Illinois location which can affect auto insurance rates significantly.

Buying budget insurance is not always easy, and deciding which company offers the best insurance rates for a Chevrolet Malibu will involve even more work. Every auto insurer uses a little different formula for setting prices, so first we will examine the overall cheapest insurance companies in Illinois.

It’s important that readers know that Illinois insurance rates are impacted by many things which can significantly increase or decrease your annual premium. Price variation is why drivers need to shop around with many companies when trying to get the most economical insurance quotes for a Chevrolet Malibu. Prices are determined by many things and can change substantially, so the cheapest company two years ago may now not even be in the top five.

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The Hartford has some of the best car insurance rates in Illinois at around $769 annually. Rockford Mutual, Titan, Erie, and Cincinnati Insurance are also some of the more affordable Illinois car insurance companies.

In this example, if you are a customer of Rockford Mutual and switched to The Hartford, you could realize yearly savings of about $69. Drivers with Titan may save as much as $117 a year, and Erie customers might reduce prices by as much as $145 a year.

To find the cheapest insurance for a Chevrolet Malibu in Illinois, click here to start your free quote or quote rates from the companies below.

These premiums are averages across all drivers and vehicles in Illinois and do not take into consideration a specific rate value for a Chevrolet Malibu. So the company that can offer the best rates for your situation may not even be included in the list above. That illustrates why you need to compare as many prices as possible using your own driver data and vehicle information.

The diagram below demonstrates how choosing different deductibles can affect annual premium costs when trying to find cheap insurance for a Chevrolet Malibu. The premiums are based on a single male driver, comprehensive and collision coverage, and no discounts are applied to the premium.

A 30-year-old driver could pocket $298 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $452 by changing to a $1,000 deductible. Young drivers, like the Age 20 category, could potentially save as much as $866 or more just by choosing higher deductibles.

If you make the decision to raise deductibles, it will be necessary to have plenty of savings on hand to satisfy the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.

Liability rates compared to full coverage

Finding the cheapest insurance for a Chevrolet Malibu in Illinois should be important to the majority of drivers, and one of the quickest ways to reduce the cost of insurance is to only buy liability coverage. The example below visualizes the comparison of auto insurance rates with full coverage and liability only. The data assumes no claims or driving violations, $500 deductibles, single status, and no policy discounts are applied.

Averaged for all age groups, comp and collision coverage costs an additional $1,461 per year over liability only. Many drivers will wonder when is the right time to remove full coverage. There is no exact formula to stop paying for physical damage coverage, but there is a guideline you can consider. If the yearly cost of full coverage is 10% or more of the replacement cost minus the deductible, then you may need to consider dropping full coverage.

How to find the cheapest auto insurance for a Chevrolet Malibu

Here are some of the better money-saving ideas that can help Illinois drivers get cheap car insurance.

• Improve your credit score
• Buy your auto and home insurance from the same company and save
• On older vehicles, drop full coverage
• Safe vehicles cost less to insure
• Avoid accidents and claims
• Shop around and save

That last idea is very crucial, as we emphasized in the prior information. Prices adjust often, so don’t be afraid to change to a new company if a more affordable rate is found.

We understand brand loyalty, but it’s not a good idea if that dedication is costing thousands of dollars over the life of your policy. Spend a few minutes and compare prices to find cheaper auto insurance for a Chevrolet Malibu.

Does Progressive, Geico, Allstate, or State Farm have the cheapest car insurance?

When comparing car insurance, probably the best companies to start with are Progressive, Geico, Allstate, and State Farm. If you add them together, they insure over 48% of all policies written in the United States. All four offer physical damage and liability coverage, but each has a slightly different mix of options and features that may affect your buying decision. The next table compares some of the different features you can expect with each one.