It’s safe to conclude that auto insurance companies don’t want you comparing rates. Consumers who get price comparisons will presumably move their business because there is a great chance of finding good coverage at a lower price. A recent survey revealed that drivers who routinely compared rates saved on average $865 a year compared to people who don’t regularly compare prices.
If finding the lowest price on car insurance in Lexington is the reason for your visit, then having a good understanding how to compare auto insurance can help make the process easier.
The most effective way to save money on Chevy Avalanche insurance in Lexington is to compare prices at least once a year from providers that insure vehicles in Kentucky. You can shop around by following these steps.
First, spend a few minutes and learn about the different coverages in a policy and the things you can control to keep rates in check. Many factors that result in higher prices like inattentive driving and a substandard credit history can be eliminated by making minor changes to your lifestyle.
Second, compare prices from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from a single company like GEICO and Allstate, while agents who are independent can provide price quotes for many different companies.
Third, compare the price quotes to your existing coverage to see if cheaper Avalanche coverage is available. If you find a better price and make a switch, ensure there is no coverage lapse between policies.
One important bit of advice is that you’ll want to make sure you compare the same level of coverage on every price quote and and to get quotes from as many companies as possible. Doing this ensures an apples-to-apples comparison and a complete rate analysis.
How Insurance Providers Calculate Chevy Avalanche Insurance Premiums
Many different elements are part of the calculation when you quote your car insurance policy. Some are obvious like an MVR report, but others are more transparent like your continuous coverage and annual miles driven.
The items below are a few of the things used by insurance companies to determine prices.
- Is your vehicle theft-ready? – Owning a car with advanced anti-theft systems can earn a premium discount. Theft deterrent systems like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all aid in stopping auto theft and help lower rates.
- Liability is critical – Liability insurance will afford coverage in the event that you are found liable for damages caused by your negligence. Your liability coverage provides legal defense coverage to defend your case. Carrying liability coverage is mandatory and cheap compared to comp and collision, so do not skimp.
- Fewer miles means better premiums – The more you drive each year the more you’ll pay to insure it. Most companies price each vehicle’s coverage based upon how you use the vehicle. Vehicles left parked in the garage can be on a lower rate level than those used for commuting. Make sure your policy shows the correct usage for each vehicle, because it can save money. A policy that improperly rates your Avalanche may be costing you higher rates.
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Avoid traffic tickets – Having a single chargeable violation can increase the cost of insurance twenty percent or more. Drivers who don’t get tickets pay lower auto insurance prices than people who have multiple driving citations. Drivers unfortunate enough to have dangerous violations such as DUI, reckless driving or excessive speeding may find that they have to to maintain a SR-22 with their state in order to continue driving.
The diagram below shows how violations and fender-benders drive up Chevy Avalanche insurance rates for different insured age categories. The costs are based on a married male driver, full coverage, $250 deductibles, and no discounts are applied to the premium.
- You might want pay the small claims yourself – Car insurance companies in Kentucky provide most affordable rates to insureds who are not frequent claim filers. If you’re an insured who likes to file claims you can pretty much guarantee higher rates. Your insurance policy is intended for more catastrophic claims.
- Remove unneeded extra coverages – There are many additional coverages that you can get tricked into buying if you don’t pay attention. Things like coverage for rental cars, towing, and extra equipment coverage are some examples. They may sound like good ideas when deciding what coverages you need, but if you don’t need them remove them and pocket the money.
Chevy Avalanche insurance rates and statistics
The data table shown next outlines estimates of insurance premium costs for Chevy Avalanche models. Being able to understand how insurance prices are calculated helps drivers make decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Avalanche LS 2WD | $200 | $354 | $462 | $28 | $138 | $1,182 | $99 |
| Avalanche LT 2WD | $200 | $416 | $462 | $28 | $138 | $1,244 | $104 |
| Avalanche LS 4WD | $200 | $416 | $462 | $28 | $138 | $1,244 | $104 |
| Avalanche LT 4WD | $200 | $416 | $462 | $28 | $138 | $1,244 | $104 |
| Avalanche LTZ 2WD | $222 | $416 | $462 | $28 | $138 | $1,266 | $106 |
| Avalanche LTZ 4WD | $222 | $416 | $462 | $28 | $138 | $1,266 | $106 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, safe-driver, and multi-vehicle. Estimates do not factor in zip code location which can decrease or increase rates noticeably.
Cost comparison with and without full coverage
The chart below visualizes the comparison of Chevy Avalanche insurance costs when comparing full coverage to state minimum liability only. The prices are based on no claims or driving citations, $250 deductibles, marital status is single, and no discounts are taken into consideration.
When to drop comprehensive and collision
There is no definitive guideline of when to exclude comp and collision coverage, but there is a general guideline you can use. If the annual cost of your full coverage insurance is more than 10% of the replacement cost minus the deductible, then it might be time to buy liability only.
For example, let’s pretend your Chevy Avalanche replacement cost is $9,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, you would only receive $8,000 after the deductible is paid. If premium cost is more than $800 a year for your policy with full coverage, then it’s probably a good time to buy liability coverage only.
There are some cases where dropping physical damage coverage is not financially feasible. If you haven’t satisfied your loan, you are required to maintain full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.
Determine discounts on Lexington car insurance
Car insurance is not cheap nor is it fun to buy but you might already qualify for some discounts that could help you make your next renewal payment. Certain reductions will be credited at the time of purchase, but some may not be applied and must be manually applied before you will receive the discount.
- Good Grades Discount – A discount for being a good student may save you up to 25%. The good student discount can last until age 25.
- Early Signing – Select insurance companies give a discount for buying a new policy prior to the expiration date on your current Avalanche insurance policy. The savings is around 10%.
- Own a Home – Just owning your own home may earn you a small savings since owning and maintaining a home requires a higher level of personal finance.
- Professional Memberships – Belonging to certain professional organizations is a good way to get lower rates on car insurance.
- Theft Deterrent Discount – Vehicles with anti-theft systems are stolen with less frequency and can earn a small discount on your policy.
- More Vehicles More Savings – Drivers who insure multiple vehicles on one policy can reduce the rates for all insured vehicles.
- Low Mileage Discounts – Maintaining low annual mileage can qualify you for discounted premium rates on garaged vehicles.
- Discount for New Cars – Putting coverage on a new Avalanche can be considerably cheaper due to better safety requirements for new vehicles.
- Distant Student Discount – Youth drivers who are enrolled in higher education away from home and leave their car at home may qualify for this discount.
While discounts sound great, it’s important to understand that many deductions do not apply to the overall cost of the policy. Most cut the price of certain insurance coverages like physical damage coverage or medical payments. Just because you may think adding up those discounts means a free policy, you won’t be that lucky. But all discounts will lower your overall bill.
The information below shows the comparison of Chevy Avalanche annual premium costs with and without discounts applied to the premium. The price estimates are based on a female driver, no claims, a clean driving record, Kentucky state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, claim-free, homeowner, safe-driver, marriage, and multi-policy discounts applied.
Larger car insurance companies and a summarized list of policyholder discounts are included below.
- Progressive discounts include online signing, homeowner, continuous coverage, online quote discount, multi-vehicle, and good student.
- Farmers Insurance offers discounts including teen driver, good student, alternative fuel, business and professional, electronic funds transfer, and bundle discounts.
- Farm Bureau includes discounts for renewal discount, multi-vehicle, safe driver, youthful driver, multi-policy, driver training, and 55 and retired.
- State Farm has discounts for defensive driving training, Steer Clear safe driver discount, student away at school, good student, and good driver.
- GEICO may include discounts for seat belt use, driver training, five-year accident-free, military active duty, multi-vehicle, and defensive driver.
- SAFECO may have discounts that include multi-car, teen safe driver, bundle discounts, drive less, anti-lock brakes, accident prevention training, and teen safety rewards.
- Liberty Mutual has savings for new move discount, good student, multi-car, safety features, newly married, and newly retired.
Double check with each company or agent which discounts you may be entitled to. Some of the discounts discussed earlier might not be offered on policies in every state. If you would like to view providers that offer many of these discounts in Lexington, follow this link.
Which auto insurance company is best in Lexington?
Selecting a highly-rated insurance provider can be difficult considering how many companies provide coverage in Lexington. The company rank data listed below could help you pick which coverage providers to look at comparing price quotes from.
Top 10 Lexington Car Insurance Companies by A.M. Best Rank
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Erie Insurance – A+
- Esurance – A+
- Progressive – A+
- Nationwide – A+
- The Hartford – A+
- Allstate – A+
Compare car insurance rates regularly to save
As you quote Lexington auto insurance, you should never reduce coverage to reduce premium. There have been many cases where an insured cut collision coverage only to discover later that a couple dollars of savings turned into a financial nightmare. Your aim should be to purchase a proper amount of coverage at the best possible price while not skimping on critical coverages.
Cheap Chevy Avalanche insurance in Lexington can be sourced from both online companies as well as from independent agents in Lexington, so get free Lexington auto insurance quotes from both of them so you have a total pricing picture. Some car insurance companies don’t offer online rate quotes and these smaller companies only sell coverage through independent agents.
We covered a lot of ways to compare Chevy Avalanche insurance rates in Lexington. It’s most important to understand that the more companies you get auto insurance rates for, the better likelihood of getting affordable Lexington auto insurance quotes. Consumers could even find that the lowest rates come from an unexpected company. These companies can often insure niche markets at a lower cost as compared to the big name companies such as State Farm and Allstate.
Additional information can be found on the following sites:
- Car Insurance: When not to Skimp (BankRate.com)
- Who Has Affordable Car Insurance Quotes for 19 Year Olds in Lexington? (FAQ)
- Who Has Cheap Auto Insurance Rates for a Toyota Highlander in Lexington? (FAQ)
- Who Has Affordable Lexington Auto Insurance Rates for Real Estate Agents? (FAQ)
- Who Has Affordable Car Insurance Rates for Ride Shares in Lexington? (FAQ)
- Who Has the Cheapest Car Insurance for Active Military in Lexington? (FAQ)
- Tools for Teen Driving Safety (State Farm)
- State Laws for Cellphones and Texting (iihs.org)
- Auto Insurance for Teen Drivers (Insurance Information Institute)
- Auto Insurance Facts and Statistics (Insurance Information Institute)