Save on Chevy Camaro Insurance in Minneapolis

If you want to save the most money, the best way to find the cheapest price for Chevy Camaro insurance in Minneapolis is to start doing an annual price comparison from different companies who can sell car insurance in Minnesota. Rate comparisons can be done by completing these steps.

1. Read about coverages and the measures you can control to drop your rates. Many things that are responsible for high rates such as getting speeding tickets and a bad credit rating can be eliminated by being financially responsible and driving safely. This article provides additional tips to prevent high prices and find more discounts that you may not know about.
2. Obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can give quotes from a single company like Progressive or Allstate, while independent agents can give you price quotes for many different companies.
3. Compare the quotes to the premium of your current policy to determine if you can save on Camaro insurance. If you can save money, make sure there is no lapse between the expiration of your current policy and the new one.
4. Tell your current company of your decision to cancel your current coverage. Submit a down payment along with a signed application to the newly selected company. Be sure to safely store the proof of insurance paperwork in your glove compartment.

A key point to remember is to use identical coverage information on each quote request and and to get rate quotes from as many companies as feasibly possible. This helps ensure an accurate price comparison and maximum price selection.

It’s a fact that car insurance companies don’t want customers comparing rates. Consumers who compare rates once a year will presumably switch to a new company because there is a good probability of finding lower rate quotes. A recent survey discovered that drivers who compared prices regularly saved approximately $3,400 over four years compared to drivers who never shopped around for lower prices.

If finding the lowest rates on auto insurance is the reason for your visit, then understanding how to compare auto insurance can help make the process easier.

How You Can Control Chevy Camaro Insurance Costs

When buying car insurance it’s important to understand the different types of things that aid in calculating the rates you pay for car insurance. If you know what influences your rates, this allows you to make good choices that can earn you much lower annual insurance costs.

The following are a few of the “ingredients” car insurance companies consider when setting premiums.

• Liability insurance is important – A critical coverage on your policy, liability insurance kicks in when you are ruled to be at fault for damages caused by your negligence. Your liability coverage provides for a legal defense which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap compared to comp and collision, so do not skimp.
• Add-on coverages may not be needed – Insurance companies have many additional coverages that may not really be needed on your car insurance policy. Coverages like rental car reimbursement, better glass coverage, and motor club memberships may be costing you every month. These may sound like a good investment initially, but if you have no use for them consider taking them off your policy.
• A car insurance lapse can increase car insurance rates – Allowing your coverage to lapse is a guaranteed way to drive up your policy premiums. Not only will rates go up, getting caught without coverage may earn you a revoked license or a big fine. You may then have to file a SR-22 with the Minnesota motor vehicle department to get your license reinstated.
• Insure your auto and home with one company – Most larger car insurance companies will give lower prices to people that have more than one policy. It’s known as a multi-policy discount. Discounts can add up to ten percent or more. Even though this discount sounds good, you may still want to comparison shop to make sure you are getting the best deal. Drivers may still find a better deal by insuring with multiple companies.
• Do you save by driving less? – The more you drive your Chevy in a year’s time the more you’ll pay to insure it. The majority of insurers price each vehicle’s coverage based upon how you use the vehicle. Cars that are left in the garage qualify for better rates than cars that get driven a lot. It’s always a good idea to double check that your declarations sheet correctly shows the correct usage for each vehicle. Having the wrong rating on your Camaro can result in significantly higher rates.
• City traffic equals higher prices – Residing in less populated areas can be a good thing when insuring your vehicles. Urban drivers have to deal with more road rage incidents and longer commutes to work. Lower population corresponds to lower accident rates and also fewer theft and vandalism claims.
• Your employer and car insurance rates – Jobs such as doctors, police officers, and stock brokers tend to pay the highest average rates because of intense work-related stress and long work days. Conversely, jobs like actors, athletes and performers have lower than average premiums.

• Chevy Camaro insurance loss probability – Insurance companies use claims history to help calculate premium costs. Models that have a trend towards higher claims will have increased rates. The table shown below demonstrates the insurance loss data used by companies for Chevy Camaro vehicles.

  For each policy coverage type, the claim amount for all vehicles, regardless of manufacturer or model, is a value of 100. Values that are under 100 indicate a favorable loss history, while values that are above 100 indicate frequent claims or an increased likelihood of larger losses.

  
  

  Insurance Loss Ratings for Chevrolet Camaro Vehicles

  Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Chevrolet Camaro 2dr	139	118	123	123	130	127
  Chevrolet Camaro Convertible	92	85	107	85	95	103
  Chevrolet Camaro ZL1 2dr	222	80	174
  Chevrolet Camaro ZL1 Convertible	111		113

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Data for Chevy Camaro insurance

The premium table shown next highlights estimates of insurance costs for Chevy Camaro models. Having a good grasp of how auto insurance policy rates are figured can help customers make informed purchases.

Data rating is based on single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Minnesota minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Rate quotes do not factor in Minneapolis location which can affect auto insurance rates greatly.

Physical damage deductibles

One of the hardest decisions when shopping for car insurance is at what level do you set your deductibles. The comparisons below highlight how much more rates are when you choose different physical damage deductibles. The first rate quote example uses a $100 deductible and the second price table uses a $1,000 deductible.

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Information does not factor in specific Minneapolis garaging location which can affect auto insurance rates noticeably.

We can estimate from the data above that using a $100 deductible would cost the average driver about $37 more each month or $444 annually across all Chevrolet Camaro models than requesting the higher $1,000 deductible. Since the policyholder would be required to pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you normally average more than 24 months between claim filings, you would probably save some money if you choose the higher deductible. Here’s how this decision is made.

An important sidenote is that raising deductibles to save money means you will have to pay more of your own money when you do file a claim. You need enough money stashed away in the event you have to pay the deductible.

Safe drivers pay less for car insurance

The example below demonstrates how speeding tickets and at-fault claims raise Chevy Camaro insurance costs for different categories of driver ages. The premiums assume a married male driver, comp and collision included, $1,000 deductibles, and no policy discounts are applied.

Car insurance premiums based on gender

The diagram below shows the comparison of Chevy Camaro auto insurance costs for male and female drivers. The premiums are based on no claims or driving citations, full physical damage coverage, $100 deductibles, drivers are not married, and no other discounts are factored in.

Should you buy full coverage?

The information below shows the difference between Chevy Camaro insurance prices with and without physical damage coverage. The costs are based on no violations or accidents, $500 deductibles, single marital status, and no discounts are taken into consideration.

When to drop comp and collision

There is no specific rule of when to stop paying for full coverage, but there is a guideline you can use. If the annual cost of your full coverage insurance is about 10% or more of the replacement cost minus the deductible, then you might consider buying liability only.

For example, let’s assume your Chevy Camaro replacement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $2,000 after paying the physical damage deductible. If you are paying in excess of $200 a year for comprehensive and collision coverage, then it could be time to drop full coverage.

There are some cases where removing full coverage is not recommended. If you still have a lienholder on your title, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not drop full coverage.

Lower rate quotes by applying discounts

The cost of insuring your cars can be expensive, but you may qualify for discounts to cut the cost considerably. Some trigger automatically when you complete an application, but some discounts are required to be inquired about prior to getting the savings. If you’re not getting every credit you deserve, you are throwing money away.

• Drivers Ed for Students – Teen drivers should successfully take a driver’s education course as it can save substantially.
• Multi-line Discount – Insurance companies who offer life insurance give a discounted premium rate on car insurance if you buy auto and life insurance together.
• Discount for Swiching Early – Some insurance companies give discounts for buying a new policy before your current Camaro insurance policy expires. The savings is around 10%.
• Fewer Miles Equal More Savings – Driving less could be rewarded with better insurance rates on cars that stay parked.
• Seat Belt Discounts – Drivers who always wear seat belts and also require passengers to use a seat belt could save 15% off the personal injury premium cost.
• Discounts for Government Workers – Active or former government employment could provide a small rate reduction with a few insurance companies.
• Passive Restraint Discount – Options like air bags or motorized seat belts may qualify for discounts as much as 30%.
• Multiple Cars – Buying a policy with several vehicles on one policy may reduce the rate for each vehicle.

You can save money using discounts, but some of the credits will not apply to all coverage premiums. Some only reduce specific coverage prices like comprehensive or collision. Even though it may seem like you would end up receiving a 100% discount, company stockholders wouldn’t be very happy.

The example below compares Chevy Camaro annual premium costs with and without some available policy discounts. The data assumes a female driver, no claims or driving violations, Minnesota state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, claim-free, multi-policy, multi-car, and homeowner discounts applied.

A few popular companies and the discounts they provide can be read below.

• State Farm may include discounts for multiple autos, good student, defensive driving training, Steer Clear safe driver discount, and multiple policy.
• GEICO may have discounts that include emergency military deployment, daytime running lights, anti-lock brakes, anti-theft, and air bags.
• Allstate discounts include eSmart discount, safe driver, teenSMART discount, premier plus, auto/life discount, anti-theft, and resident student.
• SAFECO offers premium reductions for teen safe driver, teen safety rewards, accident prevention training, safe driver, and multi-car.
• Farm Bureau offers discounts including driver training, good student, safe driver, multi-vehicle, youthful driver, multi-policy, and 55 and retired.
• Progressive may offer discounts for multi-policy, good student, continuous coverage, multi-vehicle, online signing, and online quote discount.
• AAA includes discounts for AAA membership discount, anti-theft, education and occupation, pay-in-full, and multi-policy.

When getting a coverage quote, ask each company or agent to give you their best rates. Some of the earlier mentioned discounts may not be offered in Minneapolis. If you would like to view insurance companies that have a full spectrum of discounts in Minnesota, click this link.

Minnesota auto insurance companies ranked

Finding a highly-rated auto insurance company can be difficult considering how many different companies there are to choose from in Minneapolis. The ranking information in the next section can help you choose which car insurance companies you want to consider when comparing rates.

Top 10 Minneapolis Car Insurance Companies Overall

1. USAA
2. 21st Century
3. GEICO
4. Nationwide
5. AAA Insurance
6. Liberty Mutual
7. Safeco Insurance
8. State Farm
9. Travelers
10. American Family

Lower rates by being persistent

We just covered a lot of techniques to lower your Chevy Camaro insurance car insurance rates in Minneapolis. It’s most important to understand that the more providers you compare, the better your comparison will be. You may even be surprised to find that the lowest car insurance rates come from an unexpected company. They may only write in your state and offer lower premium rates compared to the large companies like Progressive or GEICO.

As you shop your coverage around, don’t be tempted to buy poor coverage just to save money. In many instances, drivers have reduced liability coverage limits only to regret that saving that couple of dollars actually costed them tens of thousands. Your strategy should be to buy a smart amount of coverage at the best possible price, but do not sacrifice coverage to save money.

Budget-friendly auto insurance in Minneapolis can be bought on the web in addition to local insurance agencies, and you should compare rates from both to get a complete price analysis. Some auto insurance companies do not offer price quotes online and many times these regional carriers sell through local independent agencies.

More information

• Older Drivers FAQ (iihs.org)
• Who Has Cheap Minneapolis Auto Insurance Rates for Used Cars? (FAQ)
• Who Has Affordable Auto Insurance for a Ford F-150 in Minneapolis? (FAQ)
• Who Has Affordable Minneapolis Auto Insurance for Drivers with Bad Credit? (FAQ)
• Who Has Cheap Minneapolis Car Insurance for High Mileage Drivers? (FAQ)
• Who Has Affordable Auto Insurance Rates for a Subaru Outback in Minneapolis? (FAQ)
• How Much are Auto Insurance Quotes for Drivers Over Age 70 in Minneapolis? (FAQ)
• Rental Reimbursement Coverage (Allstate)
• When is the Right Time to Switch Car Insurance Companies? (Allstate)