Finding the best cheap insurance for a Chevrolet Equinox is fairly easy, but it is dependent upon an enormous amount of rating factors such as whether you are married, your residence address, and citations or violations on your driving record. Washington drivers pay around $1,016 per year to insure their Equinox, but that amount is a projection based on a 30-year-old married male driver with both comprehensive and collision coverage and $100 deductibles.
There’s a high likelihood you are not 30 and maybe not even a male, possibly single instead of married, or maybe you rent instead of own your home. Even a minor change in rating factors or requested coverage amount may result in significant differences in policy price.
Having different needs demonstrates why the only way to find the most affordable coverage for your Chevrolet is to do the rate comparisons yourself. It only takes a few minutes and you will be able to see rates from the best auto insurance companies that offer coverage in Washington.
The trim level of your vehicle tends to impact the yearly cost, so the cost to insure a Equinox LS 2WD trim level will be $114 less than the cost to insure the more expensive Equinox LTZ AWD model, as demonstrated by the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Equinox LS 2WD||$254||$458||$294||$18||$88||$1,112||$93|
|Equinox LT 2WD||$254||$458||$294||$18||$88||$1,112||$93|
|Equinox LS AWD||$254||$458||$294||$18||$88||$1,112||$93|
|Equinox LT AWD||$254||$458||$294||$18||$88||$1,112||$93|
|Equinox LTZ 2WD||$286||$540||$294||$18||$88||$1,226||$102|
|Equinox LTZ AWD||$286||$540||$294||$18||$88||$1,226||$102|
|Equinox LTZ AWD||$286||$540||$294||$18||$88||$1,226||$102|
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Washington minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Table data does not factor in specific Seattle garaging location which can raise or lower rates substantially.
Determining which company has the most affordable insurance rates for a Chevrolet Equinox will require a little more effort in order to find the lowest price quote. Every car insurance company has a proprietary method for determining rates in each state, so let’s rank the insurance companies with the overall best prices in Seattle, WA.
Find the Cheapest Car Insurance for Your Equinox
|Rank||Company||Cost Per Year|
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Capital may offer some of the lowest car insurance rates in Seattle at around $784 a year. This is $628 less than the average premium paid by Washington drivers of $1,412. Grange, Nationwide, Travelers, and PEMCO also qualify as some of the cheaper Seattle, WA car insurance companies.
As the example above demonstrates, if you buy coverage from Travelers and switched to Capital, you might see savings of about $214. Policyholders with PEMCO might save as much as $220 a year, and Mutual Enumclaw insureds might realize rate reductions of up to $239 a year.
If you want to see how much you could save, click here or feel free to get quotes from the companies below.
It’s important to note that these policy prices are averages across all drivers and vehicles in Washington and and are not figured with an exact vehicle garaging location for a Chevrolet Equinox. So the company that fits your situation best may not even be in the list above. That illustrates why you need to get rate quotes using your own driver information and specific vehicle type.
How to get discounts on Seattle insurance rates
Insurers that provide policies for a Chevrolet Equinox may have price discounts that may potentially lower prices by as much as 35% or more if you qualify for them. A few popular companies and a selection of discounts are:
- State Farm has discounts for safe vehicle, defensive driving training, Steer Clear safe driver discount, student away at school, accident-free, Drive Safe & Save, and driver’s education.
- Farmers Insurance includes discounts for alternative fuel, teen driver, multi-car, homeowner, switch companies, and youthful driver.
- Progressive discounts include homeowner, continuous coverage, online quote discount, good student, and multi-vehicle.
- GEICO has savings for multi-policy, anti-theft, defensive driver, emergency military deployment, and membership and employees.
- Auto-Owners Insurance may offer discounts for good student, multi-policy, anti-lock brakes, safe vehicle, and student away at school.
- The Hartford policyholders can earn discounts including vehicle fuel type, driver training, anti-theft, good student, and air bag.
- Farm Bureau may have discounts that include safe driver, 55 and retired, driver training, multi-policy, good student, youthful driver, and multi-vehicle.
- USAA offers discounts including driver training, safe driver, multi-policy, annual mileage, multi-vehicle, and good student.
The illustration below illustrates the difference between insurance rates with and without discounts applied to the premium. The price estimates are based on a male driver, no claims or driving citations, Washington 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 anti-theft, vehicle safety, multiple policy, multiple vehicle, passive restraint, and accident-free discounts applied. When these discounts are applied to the policy premium, theaverage amount saved on insurance for a Chevrolet Equinox is 28% or $556.
The example below highlights how deductible choice can affect insurance premiums when trying to find cheap insurance for a Chevrolet Equinox. The data assumes a single male driver, full coverage, and no other discounts are factored in.
The chart above illustrates that a 50-year-old driver could save $338 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $510 by using a $1,000 deductible. Even younger drivers, such as the Age 20 example, could roll back prices as much as $1,116 or even more just by using higher deductibles. If you do make the decision to raise your deductibles, it is a good idea to have additional funds in a savings account to enable you to cover the extra out-of-pocket expense that deters many people from opting for higher deductibles.
Do you need full coverage?
Finding the cheapest insurance is probably important to most vehicle owners, and an effective way to save on the cost of insurance for a Chevrolet Equinox is to only buy liability insurance. The illustration below visualizes the comparison of insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. Data assumes no claims or violations, $500 deductibles, marital status is single, and no discounts are applied.
If we average all the age groups together, comp and collision coverage costs an additional $1,781 per year more than just insuring for liability. That amount may make you wonder if full coverage is worth the money. There is no clear-cut formula to stop paying for full coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.
For example, let’s pretend your vehicle’s replacement value is $11,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $10,500 after the deductible is paid. If you are paying over $1,050 a year to have full coverage, then it could be time to drop full coverage.
There are some circumstances where only buying liability is not advised. If you still owe a portion of the original loan, you are required to maintain full coverage to protect the lienholder’s interest. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should maintain full coverage.