Cheap Quotes for Chevy Equinox Insurance in Lexington

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Chevy Equinox insurance policy
Chevy Equinox insurance policy image courtesy of QuoteInspector.com

Do you want to save money by finding the cheapest car insurance rates in Lexington, KY? Lexington consumers have many options when looking for affordable Chevy Equinox insurance. They can either waste time contacting agents getting price quotes or utilize the internet to find the lowest rates. There is a better way to find car insurance online so you're going to learn the quickest way to price shop coverage for your Chevy and obtain the best price possible from Lexington insurance agents and online providers.

Insurance for Chevy EquinoxEveryone knows that auto insurance companies don't want customers comparing rates. Insureds who get comparison quotes at least once a year are likely to move their business because of the good chance of finding a cheaper policy. A recent car insurance study revealed that drivers who compared prices once a year saved about $72 a month compared to other drivers who never shopped around for lower prices.

If finding budget-friendly car insurance in Lexington is your ultimate target, then having an understanding of the best way to shop and compare insurance rates can help make the process easier.

It's smart to get comparison quotes occasionally because car insurance rates trend upward over time. If you had the best rate on Chevy Equinox insurance in Lexington at your last renewal a different company probably has better prices today. There are a lot of ways to save on Equinox insurance online but by reading this article, you're going to learn some of the best techniques to lower your car insurance rates in Lexington.

Finding the cheapest car insurance coverage in Lexington is actually not that difficult if you follow our advice. If you already have coverage, you will most likely be able to find better prices using the techniques covered below. Consumers only have to learn the least time-consuming way to compare rates online from multiple companies.

The companies in the list below are ready to provide price comparisons in Lexington, KY. To locate cheap car insurance in Lexington, KY, we recommend you compare several of them to get the cheapest price.

Best reasons to buy insurance in Kentucky

Despite the high cost of buying insurance for a Chevy Equinox in Lexington, insurance is required for several reasons.

  • Most states have minimum liability requirements which means the state requires specific minimum amounts of liability insurance in order to get the vehicle licensed. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
  • If you took out a loan on your Chevy Equinox, most lenders will require that you have comprehensive coverage to guarantee their interest in the vehicle. If you let the policy lapse, the lender may insure your Chevy at a much higher premium rate and require you to pay for the much more expensive policy.
  • Insurance safeguards your Chevy Equinox and your assets. Insurance will pay for many types of medical costs for both you and anyone you injure as the result of an accident. Liability coverage will also pay to defend you if you are sued as the result of your driving. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will cover the damage repairs after a deductible is paid.

The benefits of buying enough insurance are without a doubt worth the cost, especially when you need to use it. On average, a vehicle owner in Lexington is overpaying over $820 a year so we recommend shopping around each time the policy renews to save money.

Rates and data analysis

The rate table below outlines different policy rates for Chevy Equinox models. Being able to understand how prices are formulated can help you make decisions on which insurance to purchase.

Chevrolet Equinox Insurance Rates in Lexington, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Equinox LS 2WD $256 $466 $336 $20 $100 $1,178 $98
Equinox LT 2WD $256 $466 $336 $20 $100 $1,178 $98
Equinox LS AWD $256 $466 $336 $20 $100 $1,178 $98
Equinox LT AWD $256 $466 $336 $20 $100 $1,178 $98
Equinox LTZ 2WD $288 $550 $336 $20 $100 $1,294 $108
Equinox LTZ AWD $288 $550 $336 $20 $100 $1,294 $108
Equinox LTZ AWD $288 $550 $336 $20 $100 $1,294 $108
Get Your Own Custom Quote Go

Above prices assume married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Premium costs do not factor in specific Lexington garaging location which can alter prices greatly.

Analysis of deductible levels

The hardest decision when buying coverage is how low should you set your deductibles. The tables below may help to conceptualize the cost difference of buying low and high deductibles. The first price estimate table uses a $250 deductible for comp and collision and the second set of rates uses a $1,000 deductible.

Chevrolet Equinox insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Equinox LS 2WD $252 $426 $326 $20 $98 $1,147 $96
Equinox LT 2WD $252 $426 $326 $20 $98 $1,147 $96
Equinox LS AWD $252 $426 $326 $20 $98 $1,147 $96
Equinox LT AWD $252 $426 $326 $20 $98 $1,147 $96
Equinox LTZ 2WD $284 $500 $326 $20 $98 $1,253 $104
Equinox LTZ AWD $284 $500 $326 $20 $98 $1,253 $104
Equinox LTZ AWD $284 $500 $326 $20 $98 $1,253 $104
Get Your Own Custom Quote Go
Chevrolet Equinox insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Equinox LS 2WD $156 $268 $326 $20 $98 $868 $72
Equinox LT 2WD $156 $268 $326 $20 $98 $868 $72
Equinox LS AWD $156 $268 $326 $20 $98 $868 $72
Equinox LT AWD $156 $268 $326 $20 $98 $868 $72
Equinox LTZ 2WD $176 $316 $326 $20 $98 $936 $78
Equinox LTZ AWD $176 $316 $326 $20 $98 $936 $78
Equinox LTZ AWD $176 $316 $326 $20 $98 $936 $78
Get Your Own Custom Quote Go

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Price estimates do not factor in vehicle garaging location which can revise premium rates considerably.

Based on this data, we can arrive at the conclusion that using a $250 deductible will cost you approximately $24 more each month or $288 a year than buying the higher $1,000 deductible. Since you would have to pay $750 more to file a claim with a $1,000 deductible as compared to a $250 deductible, if you normally go at least 31 months between claim filings, you would save more money if you choose the higher deductible. Below is an example of how we made this calculation.

Average monthly premium for $250 deductibles: $99
Average monthly premium for $1,000 deductibles (subtract): - $75
Monthly savings from raising deductible: $24
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $24
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 31 months

The example below demonstrates how deductibles and can impact Chevy Equinox insurance costs for each different age group. The rates are based on a single female driver, full coverage, and no discounts are factored in.

Auto insurance premiums by gender

The illustration below visualizes the comparison of Chevy Equinox annual premium costs for male and female drivers. The premiums assume a clean driving record, no claims, full physical damage coverage, $250 deductibles, marital status is single, and no discounts are applied to the premium.

Do you need full coverage?

The chart below shows the difference between Chevy Equinox auto insurance costs with liability coverage only compared to full coverage. The data is based on no tickets, no at-fault accidents, $500 deductibles, single marital status, and no discounts are taken into consideration.

Should you pay for full coverage?

There isn't a steadfast formula that works best for making the decision to drop full coverage on your policy, but there is a general convention. If the yearly cost of full coverage is about 10% or more of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.

For example, let's say your Chevy Equinox replacement cost is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company will settle for is $7,000 after paying your policy deductible. If it's costing in excess of $700 annually for comprehensive and collision coverage, then it's probably a good time to buy liability coverage only.

There are some circumstances where buying only liability insurance is not advised. If you haven't paid off your loan, you have to keep full coverage to protect the lienholder's interest in the vehicle. Also, if you can't afford to buy a different vehicle if your current one is totaled, you should not drop full coverage.

Car insurance discounts are available to lower rates

Buying car insurance is not cheap, but companies offer discounts to help bring down the price. Certain reductions will be credited when you quote, but occasionally some discounts must be specifically requested prior to getting the savings. If you check and find you aren't receiving every discount available, you could be getting lower rates.Save money with discounts

  • Discount for Good Grades - Excelling in school may save as much as 25% on a Lexington auto insurance quote. The good student discount can last well after school through age 25.
  • Discount for Swiching Early - Select larger companies give a discount for buying a new policy before your current expiration date. You can save around 10% with this discount.
  • Student Driver Training - Teen drivers should take driver's ed class in school.
  • Discounts for Multiple Vehicles - Buying a policy with multiple vehicles on one policy may reduce the rate for each vehicle.
  • Online Discount - A few larger companies will give a small break for signing up digitally online.
  • Discounts for Seat Belt Usage - Buckling up and requiring all passengers to wear their seat belts can save a little on the medical payments or PIP coverage costs.
  • Discount for Passive Restraints - Factory air bags can get savings up to 30%.
  • Pay Upfront and Save - If you pay your entire premium ahead of time instead of paying each month you may have a lower total premium amount.

Drivers should understand that most of the big mark downs will not be given to all coverage premiums. A few only apply to the price of certain insurance coverages like liability, collision or medical payments. So despite the fact that it appears adding up those discounts means a free policy, it's just not the way it works.

The information below illustrates the difference between Chevy Equinox car insurance costs with and without discounts applied. The rates are based on a male driver, a clean driving record, no claims, Kentucky state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, marriage, multi-policy, multi-car, and claim-free discounts applied.

Popular car insurance companies and some of the discounts are detailed below.

  • The Hartford offers discounts including bundle, good student, driver training, air bag, vehicle fuel type, defensive driver, and anti-theft.
  • American Family discounts include defensive driver, early bird, good driver, Steer into Savings, and accident-free.
  • Progressive has discounts for homeowner, multi-vehicle, continuous coverage, online quote discount, online signing, and multi-policy.
  • Travelers includes discounts for early quote, good student, hybrid/electric vehicle, student away at school, multi-car, and new car.
  • Farmers Insurance policyholders can earn discounts including mature driver, multi-car, electronic funds transfer, distant student, pay in full, and early shopping.
  • USAA may have discounts that include multi-policy, loyalty savings, defensive driver, safe driver, family discount, and new vehicle.
  • Liberty Mutual offers premium reductions for preferred payment discount, newly retired, new move discount, teen driver discount, new vehicle discount, good student, and safety features.

Before buying, ask each company or agent the best way to save money. Discounts may not be offered in every state.

You may need help from an insurance agency

Many people just prefer to go talk to an agent and that can be a great decision Experienced insurance agents can help you choose the best coverages and help in the event of a claim. The best thing about comparing insurance prices online is that you can find cheap rate quotes and still have a local agent.

To help locate an agent, after submitting this form (opens in new window), your insurance coverage information gets sent to local insurance agents in Lexington that provide free Lexington auto insurance quotes for your business. It simplifies rate comparisons since you won't have to contact an agency due to the fact that quote results will go directly to your email. If you wish to quote rates from a specific car insurance provider, you can always jump over to their website and complete a quote there.

Finding a good insurance company requires more thought than just a cheap quote. Ask your prospective agent these questions:

  • Can you use your own choice of collision repair facility?
  • Are they primarily personal or commercial lines agents in Lexington?
  • Does the agency have a positive business rating?
  • What discounts might you be missing?
  • If you raise deductibles, how much can you save?
  • If your car is totaled, how to they determine the replacement cost?
  • Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
  • Which company do they place the most coverage with?

Listed below is a list of insurance companies in Lexington who can help you get price quotes for Chevy Equinox insurance in Lexington.

View more agents

After talking to the agent and getting positive responses to any questions you have in addition to an acceptable price estimate, you have narrowed it down to an provider that is reputable and can adequately provide car insurance.

You can find cheap coverage

Drivers who switch companies do it for a number of reasons such as unfair underwriting practices, lack of trust in their agent, poor customer service and delays in paying claims. It doesn't matter what your reason, switching car insurance companies can be easy and end up saving you some money.

We just presented many tips how you can compare Chevy Equinox insurance prices in Lexington. The most important thing to understand is the more providers you compare, the higher the chance of saving money. Consumers could even find that the best price on car insurance is with some of the lesser-known companies.

The cheapest Chevy Equinox insurance in Lexington is available from both online companies as well as from independent agents in Lexington, and you should compare price quotes from both to have the best chance of lowering rates. Some companies do not offer the ability to get a quote online and usually these smaller providers sell through independent agents.

How to find cheaper quotes for Chevy Equinox insurance in Lexington

It takes a few minutes, but the best way to find more affordable Chevy Equinox insurance is to regularly compare quotes from insurers in Lexington.

  • First, spend a few minutes and learn about how insurance works and the things you can change to keep rates low. Many policy risk factors that cause high rates like multiple speeding tickets and a substandard credit score can be eliminated by making minor driving habit or lifestyle changes.
  • Second, obtain price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can give quotes from a single company like GEICO or State Farm, while independent agents can provide prices from multiple companies.
  • Third, compare the new rate quotes to the premium of your current policy to see if you can save by switching companies. If you can save some money and switch companies, make sure there is no lapse in coverage.
  • Fourth, provide adequate notice to your current company of your decision to cancel your existing policy and submit a signed application and payment for your new policy. Be sure to place the new certificate of insurance above your visor, in the console, or in the glove compartment.

One important bit of advice is that you'll want to make sure you compare the same liability limits and deductibles on every quote request and and to analyze all possible companies. Doing this enables a fair rate comparison and the most accurate and complete price analysis.

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