Save on Chevy Cobalt Insurance in Oklahoma City

To save the most money, the best way to find more affordable Chevy Cobalt insurance is to start comparing prices yearly from providers that insure vehicles in Oklahoma City. This can be done by following these steps.

1. Learn about car insurance and the changes you can make to prevent expensive coverage. Many factors that increase rates like high-risk driving behaviors and poor credit history can be rectified by making small lifestyle or driving habit changes.
2. Request price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only provide price estimates from a single company like GEICO or State Farm, while independent agents can provide rate quotes from multiple companies.
3. Compare the price quotes to your current policy premium to see if a cheaper rate is available in Oklahoma City. If you can save some money and switch companies, make sure there is no lapse in coverage.
4. Notify your company or agent of your decision to cancel your current auto insurance policy. Submit a down payment along with a signed application to the new company. Don’t forget to put the new proof of insurance certificate in an easily accessible location in your vehicle.

One important bit of advice is to use the same level of coverage on every price quote and and to get rate quotes from as many car insurance companies as possible. This provides an apples-to-apples comparison and the best price selection.

It’s well known that auto insurance companies don’t want you quoting rates from other companies. Drivers who shop for lower prices are highly likely to switch auto insurance companies because there is a high probability of finding lower prices. A study discovered that people who routinely compared quotes saved as much as $850 each year compared to those who never compared prices.

If saving money on insurance is your ultimate objective, then having some knowledge of the best way to quote and compare insurance can save time and make the process easier.

Buying the cheapest insurance in Oklahoma City is actually very simple if you learn how to start. If you are paying for car insurance now, you stand a good chance to be able to reduce premiums using these techniques. Although Oklahoma car owners can benefit by having an understanding of how big insurance companies price online insurance because it can help you find the best coverage.

When shopping for low cost Oklahoma City auto insurance quotes, there are a couple of ways to obtain and compare prices from many available auto insurance companies in Oklahoma. The easiest way by far to find competitive Chevy Cobalt insurance rates is to perform an online rate comparison.

It’s important to know that quoting more helps locate the best price. Some companies don’t provide price estimates online, so it’s important to compare rates on coverage from those companies, too.

The providers in the list below can provide price comparisons in Oklahoma. If more than one company is shown, we recommend you visit two to three different companies to get a more complete price comparison.

Rates and other information

The premium information shown below covers different insurance rates for Chevy Cobalt models. Being aware of how prices are determined can be valuable when making smart choices when comparing insurance rates.

Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Oklahoma minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Prices do not factor in Oklahoma City location which can affect price quotes substantially.

Where to set your deductibles

When buying insurance, a common question is the level to set your comp and collision deductibles. The figures shown below summarize the rate difference when you select higher and lower insurance deductibles. The first set of prices uses a $250 deductible for physical damage and the second rate chart uses a $500 deductible.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Oklahoma minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Rates do not factor in garaging location in Oklahoma City which can modify auto insurance rates considerably.

We can derive from the above data that using a $250 deductible will cost you roughly $19 more each month or $228 a year than selecting the higher $500 deductible. Since you would have to pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you normally go at a minimum 13 months between claim filings, you would save more money if you choose a higher deductible.

The example below demonstrates how deductible levels and can influence Chevy Cobalt insurance prices for different age groups. Data assumes a married female driver, full coverage, and no policy discounts are applied.

Insurance rates by gender and age in Oklahoma City

The diagram below shows the difference between Chevy Cobalt insurance premiums for male and female drivers. The premiums are based on a clean driving record, no at-fault accidents, full coverage, $100 deductibles, drivers are single, and no discounts are factored in.

Cost comparison with and without full coverage

The illustration below shows the comparison of Chevy Cobalt car insurance costs when comparing full coverage to state minimum liability only. The costs are based on no violations or claims, $1,000 deductibles, single status, and no policy discounts are applied.

When to stop paying for full coverage

There isn’t a steadfast formula to eliminate full coverage on your policy, but there is a guideline you can consider. If the annual cost of your full coverage insurance is about 10% or more of replacement cost minus your deductible, then it may be the right time to buy liability only.

For example, let’s pretend your Chevy Cobalt claim settlement value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $6,000 after the policy deductible has been paid. If you are paying in excess of $600 annually for full coverage, then it’s probably a good time to buy liability coverage only.

There are some situations where only buying liability is not a good idea. If you still owe a portion of the original loan, you are required to maintain full coverage as part of the loan requirements. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should not opt for liability only.

It may be expensive, but it’s not optional

Despite the fact that auto insurance is not cheap in Oklahoma City, paying for auto insurance may be required and benefits you in several ways.

• Just about all states have minimum liability requirements which means state laws require a minimum amount of liability in order to drive the car legally. In Oklahoma these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
• If you took out a loan on your Chevy, almost every bank will require that you buy full coverage to guarantee payment of the loan. If coverage lapses or is canceled, the lender will be forced to insure your Chevy at a more expensive rate and require you to reimburse them the higher premium.
• Auto insurance preserves your car and your assets. It will also pay for hospital and medical expenses incurred in an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will cover the repair costs.

The benefits of having auto insurance outweigh the cost, particularly for liability claims. In a recent study of 1,000 drivers, the average customer is wasting up to $820 a year so shop around at least once a year to save money.

Will just any policy work for me?

Keep in mind that when it comes to choosing the best car insurance coverage, there really is not a one-size-fits-all type of policy. You are unique.

For instance, these questions can aid in determining whether or not you may require specific advice.

• What is the difference between comprehensive and collision coverage?
• What happens if I owe more than my Chevy Cobalt is worth?
• How do I file an SR-22 for a DUI in Oklahoma?
• What are good deductibles for a Chevy Cobalt?
• Exactly who is provided coverage by my policy?
• Am I getting all the discounts available?
• What if an uninsured driver hits me?
• Does low annual mileage earn a discount?
• Is pleasure use cheaper than using my Chevy Cobalt to commute?
• Do I need replacement cost coverage?

If you can’t answer these questions, you may need to chat with an agent. To find an agent in your area, take a second and complete this form.

Car insurance coverage specifics

Learning about specific coverages of your policy can be of help when determining the best coverages for your vehicles. Car insurance terms can be confusing and coverage can change by endorsement.

Comprehensive auto coverage – This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things like rock chips in glass, theft, a broken windshield, damage from a tornado or hurricane and vandalism. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Medical payments and PIP coverage – Med pay and PIP coverage provide coverage for short-term medical expenses for things like nursing services, doctor visits and pain medications. They are utilized in addition to your health insurance program or if you do not have health coverage. Coverage applies to all vehicle occupants and will also cover any family member struck as a pedestrian. PIP coverage is not an option in every state and gives slightly broader coverage than med pay

Auto liability insurance – Liability coverage will cover damage or injury you incur to people or other property in an accident. It protects YOU from legal claims by others, and does not provide coverage for your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show policy limits of 25/50/25 which means a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000.

Liability coverage protects against things such as legal defense fees, funeral expenses and attorney fees. How much coverage you buy is up to you, but it’s cheap coverage so purchase as large an amount as possible. Oklahoma requires minimum liability limits of 25/50/25 but you should consider buying better liability coverage.

The next chart shows why buying the state minimum limits may not be high enough to cover claims.

Collision coverage – Collision insurance pays for damage to your Cobalt caused by collision with an object or car. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things such as scraping a guard rail, sideswiping another vehicle, colliding with a tree, backing into a parked car and hitting a parking meter. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to raise the deductible on your Cobalt to save money on collision insurance.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This coverage gives you protection when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family and also any damage incurred to your Chevy Cobalt.

Because many people only purchase the least amount of liability that is required (Oklahoma limits are 25/50/25), it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Oklahoma City auto insurance company ratings

Finding a good quality insurance provider is difficult considering how many companies provide coverage in Oklahoma. The information shown below can help you pick which auto insurers you want to consider comparing rates from.

Top 10 Oklahoma City Car Insurance Companies Ranked by Customer Service

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

Top 10 Oklahoma City Car Insurance Companies Ranked by Customer Satisfaction

1. USAA – 91%
2. AAA Insurance – 90%
3. Esurance – 90%
4. Mercury Insurance – 89%
5. Nationwide – 89%
6. Travelers – 88%
7. Progressive – 88%
8. Safeco Insurance – 88%
9. State Farm – 88%
10. Allstate – 88%

Affordable car insurance premiums are possible

Drivers switch companies for many reasons like extreme rates for teen drivers, not issuing a premium refund, high prices and even delays in responding to claim requests. Whatever your reason, choosing a new insurance company is less work than it seems.

Affordable Chevy Cobalt insurance in Oklahoma City can be purchased from both online companies and with local Oklahoma City insurance agents, and you should compare rates from both to have the best selection. Some companies may not have rates over the internet and most of the time these small insurance companies only sell through local independent agencies.

Throughout this article, we presented a lot of information how to lower your Chevy Cobalt insurance auto insurance rates in Oklahoma City. The most important thing to understand is the more price quotes you have, the better chance you’ll have of finding inexpensive Oklahoma City auto insurance quotes. Consumers may even find the best price on car insurance is with a company that doesn’t do a lot of advertising.

More information can be read at these links:

• Top Signs Your Brakes are Giving Out (State Farm)
• Who Has the Cheapest Auto Insurance Rates for a Chevrolet Equinox in Oklahoma City? (FAQ)
• Who Has Cheap Auto Insurance Quotes for 19 Year Olds in Oklahoma City? (FAQ)
• Things to Know Before you Cancel Insurance (Allstate)
• Older Driver Statistics (Insurance Information Institute)
• What does Personal Injury Protection (PIP) Cover? (Allstate)
• What are my Rights when Filing a Claim? (Insurance Information Institute)