Cheap Quotes for Chevy Camaro Insurance in Lubbock

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Insurance rates Chevy Camaro in LubbockAnyone knows that insurance companies want to keep you from shopping around. Consumers who compare other prices are highly likely to switch to a new company because of the high probability of finding a more affordable policy. Remarkably, a study showed that consumers who made a habit of comparing rate quotes saved as much as $3,500 over four years as compared to drivers who never shopped around for cheaper prices.

If saving the most money on Chevy Camaro insurance is the reason you're here, then having an understanding of how to shop and compare insurance premiums can save time, money, and frustration.

Truthfully, the best way to get discount auto insurance rates is to regularly compare price quotes from insurers in Lubbock.

  • First, spend some time learning about how insurance companies determine prices and the changes you can make to keep rates low. Many rating factors that result in higher prices such as accidents, careless driving, and your credit history can be rectified by making lifestyle changes or driving safer. Keep reading for more information to get cheaper rates and earn a bigger discount.
  • Second, compare rates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can give quotes from one company like GEICO or Farmers Insurance, while agents who are independent can quote prices from multiple companies.
  • Third, compare the new rate quotes to your existing policy to see if you can save by switching companies. If you find a lower rate and change companies, make sure coverage does not lapse between policies.
  • Fourth, notify your current company to cancel your existing policy. Submit a completed policy application and payment for the new policy. As soon as you receive it, safely store the proof of insurance paperwork in your vehicle's glove compartment or console.

A tip to remember is to try to use similar coverage information on each price quote and and to get rates from every company you can. This provides an accurate price comparison and plenty of rates choose from.

If you currently have auto insurance, you should be able to buy cheaper auto insurance using these methods. Buying the cheapest auto insurance in Lubbock is actually very simple if you learn how to start. Nevertheless, Texas vehicle owners can benefit by having an understanding of how the larger insurance companies determine how much to charge and take advantage of how the system works.

Good Decisions Result in Lower Insurance Costs

Many factors are taken into consideration when premium rates are determined. A few of the factors are predictable like a motor vehicle report, but other criteria are not as apparent like your vehicle usage or how safe your car is. It's important that you understand some of the elements that go into determining the level of your policy premiums. If you have a feel for what positively or negatively impacts your premiums, this allows you to make educated decisions that could result in big savings.

  • Safer cars save money - Cars with high safety ratings tend to have lower insurance rates. The safest vehicles reduce injuries and lower rates of occupant injuries translates into savings for insurance companies which can result in lower premiums. If the Chevy Camaro has ratings of a minimum four stars on Safercar.gov or an "acceptable" rating on iihs.org it is probably cheaper to insure.
  • An active insurance claims history can increase rates - If you are the type of insured that files lots of claims you can look forward to either higher rates or even cancellation. Companies in Texas provide discounts to drivers who do not file claims often. Auto insurance is intended to be relied upon for claims that pose a financial burden.
  • Never have coverage lapses - Allowing your coverage to lapse will be a fast way to increase your insurance rates. In addition to paying higher rates, the inability to provide proof of insurance can result in a license revocation or jail time.
  • Pay more if you have a long commute - Choosing to live in a rural area has definite advantages when insuring your vehicles. Drivers who live in large cities tend to have more traffic problems and longer commutes to work. Lower population corresponds to lower accident rates.
  • How your age affects costs - Older people are proven to be safer behind the wheel, cause fewer claims and accidents, and are safer drivers. Teenage drivers are known to be careless and easily distracted when driving with friends therefore insurance rates are much higher.

    The chart below uses these variables: single driver, full coverage with $250 deductibles, and no discounts or violations.

  • Don't buy add-on coverages that aren't used - Insurance policies have a lot of extra coverages that you can get tricked into buying but may not be useful. Things like vanishing deductibles, accidental death, and motor club memberships may be costing you every month. The coverages may be enticing initially, but your needs may have changed so eliminate the coverages to reduce your premium.
  • Lower deductibles cost more - Your deductibles define the amount you are willing to pay out-of-pocket if you file a covered claim. Physical damage insurance, aka comp and collision, protects your car from damage. Some instances where coverage would apply are rear-ending another vehicle, vandalism, and having a roll-over accident. The more damage repair cost you are required to pay out-of-pocket, the less money you will pay for insurance.
  • Married people drive safer - Having a wife or husband may earn you lower rates on your insurance bill. It usually means you are more mature than a single person and insurance companies reward insureds because being married results in fewer claims.
  • Chevy Camaro claim statistics - Insurers analyze past claim statistics as a tool for profitable underwriting. Vehicles that the data shows to have higher frequency or amount of claims will have a higher premium rate. The next table illustrates the actual insurance loss data for Chevy Camaro vehicles.

    For each type of coverage, the claim probability for all vehicles, regardless of make, model or trim level, is set at 100. Numbers that are below 100 represent a good loss history, while values that are above 100 indicate more frequent losses or an increased chance of a larger loss.

    Chevrolet Camaro Insurance Loss Statistics
    Vehicle 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
    Statistics from IIHS.org for 2013-2015 Model Years

Rate information and statistics

The price information shown next highlights different rate quotes for Chevy Camaro models. Having knowledge of how auto insurance policy rates are calculated can aid in making smart choices when comparing insurance quotes.

Chevrolet Camaro Insurance Rates in Lubbock, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camaro LS $210 $400 $366 $22 $110 $1,108 $92
Camaro LT $210 $400 $366 $22 $110 $1,108 $92
Camaro SS $234 $462 $366 $22 $110 $1,194 $100
Get Your Own Custom Quote Go

Premium data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Price information does not factor in your specific Lubbock location which can modify premium rates substantially.

Higher deductibles lower rates

The hardest decision when buying coverage is where should you set your physical damage deductibles. The figures shown below can help you visualize the price difference of buying low and high comp and collision deductibles. The first table uses a $250 deductible and the second price chart uses a $1,000 deductible.

Chevrolet Camaro insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camaro LS $332 $584 $382 $22 $114 $1,459 $122
Camaro LT $332 $584 $382 $22 $114 $1,459 $122
Camaro SS $370 $672 $382 $22 $114 $1,585 $132
Get Your Own Custom Quote Go
Chevrolet Camaro insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camaro LS $206 $368 $382 $22 $114 $1,092 $91
Camaro LT $206 $368 $382 $22 $114 $1,092 $91
Camaro SS $228 $424 $382 $22 $114 $1,170 $98
Get Your Own Custom Quote Go

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, multi-policy, and claim-free. Price information does not factor in specific location which can impact auto insurance rates substantially.

We can derive from the above data that using a $250 deductible costs an average of $32 more each month or $384 each year than selecting the higher $1,000 deductible. Since the policyholder would be required to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you have more than 23 months between claim filings, you would save money if you choose a higher deductible.

How to determine if a higher deductible is a good idea

Average monthly premium for $250 deductibles: $125
Average monthly premium for $1,000 deductibles (subtract): - $93
Monthly savings from raising deductible: $32
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $32
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 23 months

An important sidenote is that raising deductibles means you will have to pay more of your own money when you have a comprehensive or collision claim. It will be required that you have some savings in the event you need to pay the higher deductible in order to repair your vehicle.

Violations and accidents raise rates

The example below demonstrates how citations and at-fault accidents can increase Chevy Camaro car insurance rates for each age group. The rate quotes are based on a single female driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are applied.

Full coverage versus liability-only

The illustration below compares Chevy Camaro insurance premiums with full coverage compared to only the Texas minimum liability coverage. Data assumes no driving violations, no at-fault accidents, $500 deductibles, drivers are not married, and no policy discounts are applied.

Should you pay for full coverage?

There is no set guideline for eliminating full coverage on your policy, but there is a general convention. If the annual cost of having full coverage is more than 10% of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.

For example, let's assume your Chevy Camaro replacement cost is $9,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would receive is $8,000 after the policy deductible has been paid. If premiums are more than $800 annually for full coverage, then you might want to think about dropping full coverage.

There are some situations where dropping physical damage coverage is not in your best interest. If you haven't satisfied your loan, you have to keep full coverage to protect the lienholder's interest. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not buy liability only.

Take advantage of these discounts

Car insurance is not cheap nor is it fun to buy but you might find some hidden discounts to help bring down the price. Some discounts will apply at the time of purchase, but less common discounts must be specifically requested before you get the savings.Save money with discounts

  • More Vehicles More Savings - Buying a policy with more than one vehicle on one policy can reduce rates for all insured vehicles.
  • Theft Deterrent Discount - Cars and trucks that have factory anti-theft systems are stolen less frequently and qualify for as much as a 10% discount.
  • Senior Discount - If you qualify as a senior citizen, you may qualify for reduced rates.
  • Drivers Ed for Students - Cut your cost by having your teen driver enroll and complete driver's education if offered at their school.
  • Own a Home - Just owning your own home can help you save on car insurance since home ownership demonstrates responsibility.
  • Telematics Discount - Drivers that enable their car insurance company to scrutinize driving habits by using a telematics device such as Drivewise from Allstate or Snapshot from Progressive may get a rate reduction as long as they are good drivers.
  • Anti-lock Brakes - Cars, trucks, and SUVs with anti-lock braking systems are much safer to drive so you can save 10 percent or more.
  • Early Renewal Discounts - Some car insurance companies give discounts for buying a policy early. You can save around 10% with this discount.
  • Discount for Multiple Policies - When you have multiple policies with one insurance company you may earn up to 20% off your total Camaro insurance premium.

One last thing about discounts, most of the big mark downs will not be given to the overall cost of the policy. Some only reduce specific coverage prices like liability and collision coverage. So when it seems like you could get a free car insurance policy, you won't be that lucky. But all discounts will help reduce your premiums.

The illustration below visualizes the comparison of Chevy Camaro insurance costs with and without discounts applied to the rates. The data is based on a male driver, no accidents or driving violations, Texas state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, multi-policy, marriage, homeowner, safe-driver, and claim-free discounts applied.

Large car insurance companies and some of their more popular discounts are included below.

  • Mercury Insurance policyholders can earn discounts including accident-free, professional/association, good driver, multi-car, type of vehicle, and good student.
  • Farmers Insurance has savings for teen driver, youthful driver, good student, electronic funds transfer, business and professional, switch companies, and homeowner.
  • Farm Bureau may include discounts for 55 and retired, driver training, renewal discount, good student, and multi-vehicle.
  • State Farm offers discounts including student away at school, driver's education, Steer Clear safe driver discount, Drive Safe & Save, anti-theft, defensive driving training, and accident-free.
  • Allstate offers premium reductions for safe driver, auto/life discount, anti-lock brakes, FullPay discount, and premier plus.
  • GEICO has discounts for five-year accident-free, daytime running lights, anti-lock brakes, multi-vehicle, and emergency military deployment.

When comparing rates, check with each insurance company how you can save money. A few discounts may not be offered everywhere. If you would like to choose from a list of insurance companies that have a full spectrum of discounts in Texas, follow this link.

Lubbock auto insurance company ratings

Selecting the top auto insurance provider can be difficult considering how many companies provide coverage in Lubbock. The company information shown next may help you choose which auto insurance companies you want to consider purchasing from.

Top 10 Lubbock Car Insurance Companies Overall

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

Top 10 Lubbock Car Insurance Companies Ranked by Value

  1. Mercury Insurance
  2. Travelers
  3. American Family
  4. AAA Insurance
  5. Safeco Insurance
  6. Progressive
  7. The Hartford
  8. The General
  9. 21st Century
  10. Esurance

Don't give up on cheaper rates

You just read a lot of techniques to lower your Chevy Camaro insurance premium rates in Lubbock. The key concept to understand is the more rate quotes you have, the more likely it is that you will get a better rate. Consumers may even find the most savings is with some of the smallest insurance companies. These companies can often insure niche markets at a lower cost than the large multi-state companies such as State Farm and Allstate.

Lower-priced Chevy Camaro insurance in Lubbock can be found both online and with local Lubbock insurance agents, and you should be comparing both in order to have the best price selection to choose from. Some insurance providers may not offer the ability to get a quote online and many times these small insurance companies provide coverage only through independent insurance agencies.

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