Are you kicking yourself for buying an under-performing, overpriced car insurance policy? It’s a common feeling and many consumers are feeling buyer’s remorse and feel like there’s no way out.
It goes without saying that insurance companies don’t want you shop around. Consumers who shop for lower rates are highly likely to switch companies because of the good chance of finding coverage at a cheaper rate. A study discovered that people who routinely compared rates saved $865 annually compared to drivers who never shopped for cheaper rates.
If finding budget-friendly car insurance is why you’re here, knowing how to quote prices and compare insurance coverage can help make the process easier.
Steps to finding cheaper Chevy Cobalt insurance in Charlotte
If saving money is your primary concern, then the best way to find cheaper Chevy Cobalt insurance in Charlotte is to compare prices annually from insurers in North Carolina.
- First, learn about coverages and the measures you can take to lower rates. Many policy risk factors that cause high rates such as tickets, at-fault accidents, and a negative credit rating can be improved by being financially responsible and driving safely.
- Second, compare prices from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can give quotes from one company like Progressive or State Farm, while independent agencies can provide rate quotes for a wide range of insurance providers.
- Third, compare the price quotes to the price on your current policy and see if you can save money. If you find a lower rate, ensure there is no coverage lapse between policies.
- Fourth, provide notification to your current agent or company of your intent to cancel your current policy. Submit the signed application along with the required initial payment to your new insurance company. As soon as coverage is bound, store the proof of insurance paperwork in your vehicle.
A good tip to remember is to make sure you’re comparing the same deductibles and limits on every price quote and and to get prices from as many companies as possible. Doing this guarantees an accurate price comparison and a complete price analysis.
There are many car insurance companies to choose from, and although it’s nice to have a selection, it can be more difficult to compare rates for Chevy Cobalt insurance in Charlotte.
This information will teach you a little about the most effective way to quote insurance and also save some money in the process If you are already insured, you will definitely be able to lower your rates using these techniques. But North Carolina car owners can benefit by having an understanding of how insurance companies calculate their prices and take advantage of how the system works.
How do Insurance Providers Determine Chevy Cobalt Insurance Rates?
Part of the insurance buying process is learning the rating factors that go into determining the rates you pay for insurance. If you know what determines premiums, this helps enable you to make changes that may result in lower rates. Multiple criteria are considered when you quote your car insurance policy. Some factors are common sense like a motor vehicle report, but other factors are more obscure like your continuous coverage or your commute time.
- Responsible credit saves on insurance – A driver’s credit history can be a huge factor in your rate calculation. If your credit score is low, you may save money insuring your Chevrolet Cobalt if you improve your credit rating. Consumers who have very good credit scores tend to file fewer claims as compared to drivers with lower credit ratings.
Mature drivers pay less – Teenage drivers in North Carolina are statistically proven to be less responsible when driving with friends so insurance rates are higher. Older people tend to be more responsible, tend to file fewer claims, and tend to be get fewer driving tickets.
The following data assumes a single driver, full coverage with $500 deductibles, and no discounts or violations.
- Alarms and GPS tracking lower prices – Driving a car with advanced anti-theft systems can get you a discount on your insurance. Anti-theft devices like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all hinder your car from being stolen.
- Your occupation may affect prices – Did you know your insurance rates can be affected by your occupation? Occupations such as military generals, social workers, and financial analysts have higher premium rates attributed to job stress and long work hours. Other occupations such as scientists, historians and retirees have lower than average premiums.
- Rental and towing coverage may not be needed – There are a lot of extra bells and whistles that sound like a good idea at the time if you don’t pay attention. Coverage for things like roadside assistance, towing coverage, and motor club memberships are examples of these. These coverages may sound good when buying your policy, but now you might not need them so remove them from your policy.
Rates and statistics
The premium table below outlines estimates of coverage costs for Chevy Cobalt models. Having a better understanding of how rates are figured helps drivers make decisions when shopping your coverage around.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cobalt LS 4-Dr Sedan||$152||$352||$290||$18||$86||$898||$75|
|Cobalt XFE 4-Dr Sedan||$152||$352||$290||$18||$86||$898||$75|
|Cobalt LS 2-Dr Coupe||$176||$352||$320||$18||$96||$962||$80|
|Cobalt XFE 2-Dr Coupe||$176||$352||$320||$18||$96||$962||$80|
|Cobalt LT 4-Dr Sedan||$176||$352||$290||$18||$86||$922||$77|
|Cobalt LT 2-Dr Coupe||$198||$352||$320||$18||$96||$984||$82|
|Cobalt SS Turbo 2-Dr Coupe||$220||$458||$320||$18||$96||$1,112||$93|
|Get Your Own Custom Quote Go|
Prices based on married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Price information does not factor in Charlotte location which can decrease or increase rates greatly.
Impact of careless driving on Charlotte car insurance rates
The illustration below demonstrates how citations and at-fault collisions can increase Chevy Cobalt car insurance rates for different ages of insureds. The premiums assume a single male driver, full coverage, $500 deductibles, and no additional discounts are factored in.
Gender-based car insurance rates in Charlotte
The illustration below illustrates the comparison of Chevy Cobalt insurance costs for male and female drivers. The premiums are based on no tickets, no at-fault accidents, full coverage, $500 deductibles, drivers are not married, and no additional discounts are factored in.
Full coverage or liability only
The example below shows the difference between Chevy Cobalt car insurance costs with full coverage compared to only the North Carolina minimum liability coverage. The rates are based on no violations or accidents, $500 deductibles, drivers are not married, and no discounts are applied.
When to drop full coverage
There is no definitive rule to stop paying for physical damage coverage on your policy, but there is a general convention. If the annual cost of having full coverage is about 10% or more of replacement cost minus your deductible, then it might be time to consider dropping full coverage.
For example, let’s assume your Chevy Cobalt replacement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would receive is $4,000 after paying your deductible. If it’s costing you more than $400 annually for physical damage coverage, then it might be time to consider dropping full coverage.
There are some conditions where only buying liability is not a good plan. If you have an outstanding loan on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should not remove full coverage.
Get cheaper Chevy Cobalt insurance in Charlotte with discounts
Insurance can be pricey, but there’s a good chance there are discounts that can help lower your rates. Certain reductions will be credited when you quote, but some need to be specifically requested before you get the savings.
- Full Payment Discount – If paying your policy premium upfront instead of monthly or quarterly installments you may have a lower total premium amount.
- Clubs and Organizations – Being in specific professional or occupational memberships or organizations is a good way to get lower rates on your policy.
- Anti-lock Brake System – Vehicles with anti-lock braking systems are safer to drive and earn discounts up to 10%.
- 55 and Retired – Seniors can possibly qualify for a slight reduction on a Charlotte car insurance quote.
- College Student – Any of your kids who are enrolled in a college that is more than 100 miles from Charlotte and don’t have a car could get you a discount.
- Multiple Policy Discount – If you can bundle your homeowners and auto insurance and insure them both with the same insurance company you could save at least 10% off all policies.
As a footnote on discounts, most discounts do not apply to all coverage premiums. Most only cut specific coverage prices like physical damage coverage or medical payments. So when the math indicates all those discounts means the company will pay you, you aren’t that lucky.
The illustration below illustrates the difference between Chevy Cobalt auto insurance rates with and without discounts applied to the premium. The data is based on a female driver, a clean driving record, no claims, North Carolina state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, marriage, multi-car, multi-policy, and safe-driver discounts applied.
Popular insurance companies and some of the discounts are shown below.
- Progressive offers discounts for multi-policy, homeowner, continuous coverage, online quote discount, multi-vehicle, online signing, and good student.
- MetLife includes discounts for claim-free, defensive driver, multi-policy, good student, and accident-free.
- Mercury Insurance has discounts for type of vehicle, age of vehicle, annual mileage, multi-policy, professional/association, ease of repair, and location of vehicle.
- Nationwide may offer discounts for multi-policy, business or organization, accident-free, good student, easy pay, anti-theft, and Farm Bureau membership.
- GEICO discounts include five-year accident-free, seat belt use, defensive driver, air bags, and daytime running lights.
- AAA may include discounts for multi-car, pay-in-full, education and occupation, good student, AAA membership discount, multi-policy, and anti-theft.
If you need lower rates, check with each company which discounts they offer. Depending on the company, some discounts may not be available in your state.
Quote often and quote early
Discount Chevy Cobalt insurance in Charlotte is available online in addition to many Charlotte insurance agents, and you need to comparison shop both in order to have the best chance of saving money. A few companies may not provide price quotes online and these regional insurance providers only sell through local independent agents.
We just showed you a lot of information how to lower your Chevy Cobalt insurance auto insurance rates in Charlotte. It’s most important to understand that the more you quote Charlotte car insurance, the higher your chance of finding cheaper Charlotte car insurance quotes. You may even find the biggest savings come from an unexpected company. These companies may cover specific market segments cheaper than the large multi-state companies such as Progressive or GEICO.
As you go through the steps to switch your coverage, you should never reduce needed coverages to save money. In many instances, someone sacrificed collision coverage only to regret that saving that couple of dollars actually costed them tens of thousands. The proper strategy is to find the BEST coverage for the lowest cost.
Steps to finding affordable quotes for Chevy Cobalt insurance in Charlotte
If your goal is the lowest price, then the best way to get budget Chevy Cobalt insurance in Charlotte is to compare quotes annually from different companies that sell auto insurance in North Carolina. You can compare prices by following these steps.
- Step 1: Take a few minutes and learn about how companies set rates and the things you can control to keep rates down. Many rating factors that are responsible for high rates like speeding tickets, careless driving and an unacceptable credit rating can be rectified by making minor changes in your lifestyle.
- Step 2: Compare prices from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only provide price estimates from a single company like GEICO and Allstate, while independent agents can quote prices from many different companies.
- Step 3: Compare the new quotes to your existing rates and see if there is a cheaper rate. If you can save money and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
One tip to remember is to use similar deductibles and liability limits on each price quote and and to get price quotes from every insurance company. This helps ensure the most accurate price comparison and a complete selection of prices.
To read more, feel free to visit the resources below:
- Vehicle Insurance in the U.S. (Wikipedia)
- What Insurance is Cheapest for Safe Drivers in Charlotte? (FAQ)
- What Car Insurance is Cheapest for a Kia Optima in Charlotte? (FAQ)
- Who Has Affordable Auto Insurance Quotes for a Toyota Tundra in Charlotte? (FAQ)
- Who Has the Cheapest Charlotte Car Insurance for Drivers with a DUI? (FAQ)
- What Insurance is Cheapest for Police Officers in Charlotte? (FAQ)
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- Understanding Your Insurance Deductible (Insurance Information Institute)
- Think You’re a Safe Driver? (State Farm)