How Much is Insurance for a Chevrolet Malibu in Ohio?

Since we’re writing about car insurance, the words “affordable” or “cheap” really shouldn’t be used as a descriptor for car insurance rates. Sad but true, cheap car insurance for a Chevrolet Malibu is not easy to find. But don’t despair, because we will show you how you can find auto insurance that is cheaper than what you have now.

Whether or not you can find cheap auto insurance for a Chevrolet Malibu in Ohio relies on lots of different rating factors like the number of years you have been licensed, your address, and if you had any at-fault accidents in the last few years. Drivers in Ohio will pay around $590 a year to insure their Malibu, but that is an approximation rating a 40-year-old single female with full coverage including both comprehensive and collision and $1,000 deductibles.

Chances are that rate is not what you would pay, because most likely you are not 40 and maybe not even a female, possibly married instead of single, or maybe you have a speeding ticket or two that will increase rates. Making even small differences in the factors used to determine rates can lead to a significant difference in the rate quoted for a Chevrolet Malibu.

Everyone has different rating factors, so the only way to find cheap auto insurance rates for your Chevrolet is to compare as many rates as possible. Get a free quote now and you will get price quotes from some of the cheapest companies available.

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The specific trim level tends to have a direct effect on the annual cost of coverage, so the price to insure a Malibu LS trim level will be $52 less than the price to insure the fancier Malibu LTZ model, as shown in the prices below.

Table data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, homeowner, and multi-policy. Table data does not factor in vehicle garaging location which can affect rates substantially.

Finding reliable, affordable car insurance is challenging, and figuring out which companies have the lowest-priced car insurance rates for a Chevrolet Malibu will take a little more work. Every insurance company has a unique approach for determining prices, so we’ll go over the lowest cost car insurance companies in Ohio.

It’s important to understand that Ohio car insurance rates are impacted by many factors that can increase the price you have to pay for coverage. This is why consumers need to take the time to shop around with many companies when trying to find the most budget-friendly car insurance rates for a Chevrolet Malibu. Insurance rates consist of many different factors and change dramatically, so the lowest-price company a year ago may now be one of the higher cost companies.

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Utica National may have some of the most affordable car insurance rates in Ohio at around $647 per year. Erie, Frankenmuth, Allied, and Travelers are also some of the best Ohio car insurance companies.

In the rate table above, if you currently have a policy with Allied and switched to Utica National, you could earn a yearly price reduction of roughly $43. Insureds with Travelers may save as much as $86 a year, and USAA insureds might lower prices by $94 a year.

To find out how your current rates compare, click here to get quotes or click through to the companies below.

Understand that those policy rates are averages across all types of drivers and the different vehicles they drive and do not factor in a specific rate factor for a Chevrolet Malibu. So the car insurance company that has the cheapest price for you may not even be included in the list above. That’s why you need to compare prices as often as possible using your own personalized driver profile and vehicle information.

The diagram below demonstrates how deductibles can affect insurance rates when trying to find cheap insurance for a Chevrolet Malibu. The premiums are based on a single male driver, full physical damage coverage, and no discounts are applied.

The chart above illustrates that a 30-year-old driver could lower their policy premium by $260 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $392 by changing to a $1,000 deductible. Young drivers, like the 20-year-old, can cut up to $752 or even more by choosing a larger deductible amount.

If you do raise deductibles, it will be necessary to have enough savings to enable you to cover the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.

Liability-only versus full coverage

Finding cheap insurance for a Chevrolet Malibu in Ohio is probably important to the majority of vehicle owners, and one of the easiest ways to buy cheap insurance is to buy only liability coverage. The information below illustrates the difference between auto insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The price estimates are based on no claims or driving citations, $100 deductibles, drivers are not married, and no other discounts are factored in.

Averaged out for all age groups, comprehensive and collision coverage on your policy costs $1,552 per year over and above liability coverage. Lot’s of drivers question if it’s worth it to buy full coverage. There is no set guideline for dropping full coverage, but there is a general guideline. If the yearly cost for physical damage coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then it’s probably a good time to buy liability coverage only.

There are some circumstances where dropping physical damage coverage is not recommended. If you haven’t paid off your loan, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should keep full coverage.

How to find cheap insurance for a Chevrolet Malibu in Ohio

The list below details some of the better money-saving ideas that can help Ohio drivers get cheaper coverage.

• Avoid accidents and claims
• Get cheaper liability coverage by choosing a safer vehicle
• If your vehicles are older, consider dropping full coverage
• Improve your credit rating
• Violations and traffic tickets increase rates
• Increase the comprehensive and collision deductibles on your policy
• Look for cheaper rates once a year by shopping around

The last item on the list is notably vital, as was stressed in the prior article. Car insurance rates can change in a short period of time, so don’t hesitate to switch to a new company if you can find a cheaper rate. Many consumers stick with the same company and that’s fine, but we do not recommend it if that loyalty results in overpaying lots of money. It takes less than five minutes to shop around and find cheaper car insurance for a Chevrolet Malibu.

Is the best company State Farm, Allstate, Progressive, or Geico?

If you are looking for the best insurance for a Malibu in Ohio, the first places to look would be State Farm, Allstate, Progressive, and Geico. All of them offer liability and physical damage protection, but each on has unique options and discounts that drivers can select from. The table below shows price and claims rank as well as some different options offered by each one.

Who has the cheapest Chevrolet Malibu insurance quotes?

Drivers have a lot of ways to find cheap car insurance in Ohio, but the most preferred are through an exlusive agent such as Liberty Mutual or Allstate, a non-exclusive or independent agent, or from a direct company like Geico.

They all have the same basic principle, but each is different in how they give price quotes.

Independent insurance agents have contracts with multiple insurance companies and can get policy pricing from all of them. They can sell policies from many different companies and can provide multiple price quotes, which can help you get the best chance of saving money. If they find a lower price, your agent can just switch to a different company and you won’t have to switch agencies.

An exclusive ageny is limited to a single company, examples being an Auto-Owners or Allstate agent. These agents are unable to provide rates from more than one company, so it’s a good idea to shop around.

Consumers who buy car insurance direct forego an exlusive or independent agent and instead buy from a direct company like Esurance or Progressive. Buying direct may be a decent choice families who have limited assets and have some degree of understanding of the exclusions of a policy.

What is the best method to find cheap insurance for a Chevrolet Malibu in Ohio? It would be easy to say buying from a direct company saves the most money since there is no need to pay agent commissions, but in reality, that is not true. We could also assume that using an independent agent guarantees the best prices since they have access to many companies, but again, it’s not necessarily true. In a lot of cases, the exclusive agents may have very competitive prices well below independent agents AND direct companies.

Because it’s impossible to say who has the best car insurance rates, really the only way to make sure you’re not overpaying for car insurance is to obtain price quotes and compare them. It takes a little work, but we recommend you get quotes from all three types in order to have enough rates to compare. For a list of car insurance companies with low rates, click here to view.