Finding cheaper car insurance for a Chevrolet Malibu in Texas depends on an enormous amount of rating factors such as age of the driver, your credit history, and the deductible amount you use. Drivers in Texas pay approximately $1,016 a year to insure their Malibu, but that is based on a 50-year-old married female driver with both comprehensive and collision coverage and $100 deductibles.
More likely than not, you are not 50 and maybe not even a female, you might be single instead of married, or maybe your Malibu doesn’t need full coverage. Auto insurance is not the same for everyone, so the only real way to find cheap auto insurance rates for your Chevrolet is to do a thorough rate comparison. It takes less than five minutes and you can get rates from top-rated companies that insure Chevrolet vehicles in Texas.
Vehicle trim level tends to have a direct impact on the yearly cost, so the price you will be charged to insure a Malibu LS trim level will be $120 less expensive the cost to insure the more well-appointed Malibu LTZ trim level, as shown in the table below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Malibu LS | $252 | $492 | $358 | $22 | $108 | $1,232 | $103 |
| Malibu Hybrid | $252 | $492 | $358 | $22 | $108 | $1,232 | $103 |
| Malibu LT | $284 | $492 | $358 | $22 | $108 | $1,264 | $105 |
| Malibu LTZ | $284 | $580 | $358 | $22 | $108 | $1,352 | $113 |
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Data variables include married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Table data does not factor in Laredo location which can raise or lower premiums noticeably.
Finding out which company has the best auto insurance rates for a Chevrolet Malibu will involve a tad more effort in order to find coverage that fits your budget.
Each auto insurance company has a unique approach for setting rates, so we need to take a look at the auto insurance companies with the overall best prices in Laredo.
Cheap Insurance Rates for Your Malibu
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,021 |
| 2 | USAA | $1,117 |
| 3 | Germania Mutual | $1,244 |
| 4 | Texas Farm Bureau | $1,247 |
| 5 | Esurance | $1,365 |
| 6 | California Casualty | $1,396 |
| 7 | State Farm | $1,450 |
| 8 | Mercury | $1,506 |
| 9 | Safe Auto | $1,565 |
| 10 | Nationwide | $1,600 |
| 11 | Progressive | $1,664 |
| 12 | Allstate | $1,718 |
| 13 | Amica | $1,723 |
| 14 | Home State | $2,092 |
| 15 | GEICO | $2,135 |
| 16 | MetLife | $2,227 |
| 17 | Encompass | $2,255 |
| 18 | Unitrin | $2,264 |
| 19 | 21st Century | $2,469 |
| 20 | Titan | $2,646 |
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Travelers quotes some of the best car insurance rates in Laredo at around $1,021 annually. This is $883 less than the average rate paid by Texas drivers of $1,904. USAA, Germania Mutual, Texas Farm Bureau, and Esurance are also some of the lowest-priced Laredo, TX auto insurance companies.
As shown in the rates above, if you have coverage with Texas Farm Bureau and switched to Travelers, you may realize yearly savings of in the vicinity of $226. Policyholders with Esurance could save as much as $344 a year, and California Casualty insureds might reduce prices by as much as $375 a year.
If you would like to find cheaper car insurance rates, click here to start your free quote or quote rates from the companies below.
Be aware that those prices are averages for all types of insureds and vehicles and and are not calculated with an exact vehicle garaging location for a Chevrolet Malibu. So the insurer that is best suited for you may not even be in the top 23 companies in the list above. That helps illustrate why you need to get car insurance quotes using your own specific driver and vehicle information.
Discount Laredo car insurance
Insurance providers that offer coverage for a Chevrolet Malibu may provide premium discounts that could reduce prices by as much as 30% if you meet certain criteria. Large auto insurance companies and some of the premium reductions they offer can be read below.
- State Farm may have discounts that include passive restraint, Steer Clear safe driver discount, Drive Safe & Save, multiple policy, multiple autos, and student away at school.
- GEICO has discounts for good student, seat belt use, emergency military deployment, multi-policy, and defensive driver.
- Progressive includes discounts for continuous coverage, good student, homeowner, multi-policy, online quote discount, and online signing.
- 21st Century policyholders can earn discounts including automatic seat belts, student driver, good student, driver training, theft prevention, and defensive driver.
- American Family offers discounts including multi-vehicle, TimeAway discount, air bags, mySafetyValet, and good driver.
- The Hartford has savings for good student, bundle, defensive driver, anti-theft, driver training, vehicle fuel type, and air bag.
- AAA may offer discounts for good student, AAA membership discount, education and occupation, multi-policy, and pay-in-full.
The diagram below compares auto insurance rates with and without discounts. The premiums are based on a male driver, no accidents or driving violations, Texas state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with multiple vehicle, claim-free, passive restraint, homeowner, multiple policy, and safe-driver discounts applied. When these discounts are applied, theamount saved on auto insurance for a Chevrolet Malibu is 28% or $565.
Should you buy full coverage?
Finding the cheapest auto insurance is the goal of the majority of vehicle owners, and one of the quickest ways to find cheaper insurance for a Chevrolet Malibu is to not buy comprehensive and collision coverage. The diagram below compares auto insurance rates when comparing full coverage to liability only. The price estimates are based on no accidents or driving violations, $1,000 deductibles, marital status is single, and no discounts are applied.
Averaged out for all age groups, full coverage costs $2,022 per year more than just buying liability only. At some point, every insured wonders if you should buy full coverage at all. There is no written rule to delete comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of your full coverage insurance is about 10% or more of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.
There are some cases where only buying liability is not financially feasible. If you haven’t paid off your loan, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should keep full coverage on your policy.
Why you should be shopping around
Laredo auto insurance rates are impacted by many things that control the policy premium. Improving your credit rating, increasing liability limits, or getting a ticket for running a stop sign may generate price changes that can cause some rates to be more affordable than before. Not only may things change on your end, but companies file new rates every year or even multiple times each year in order to offset underwriting gains or losses. Significantly higher losses can cause price increases, while lower claim levels may cause more affordable Malibu insurance rates.
To illustrate this example, the data below shows a variety of companies that have the cheapest car insurance in Laredo, TX for a 30-year-old female driver with a clear driving record, no claims, and excellent credit. If we estimate prices based on her current risk profile, Travelers may have the best car insurance rates in Laredo at $1,321 a year. This is $583 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also make the list of the most affordable Laredo, TX auto insurance companies.
Let’s now give the driver from the above example some claims, a lower credit rating, and a stop sign violation. Since each auto insurance company has a unique formula for determining rates in each state, getting updated rate quotes may now result in a different ranking of affordable Laredo car insurance companies as shown below.
Mercury now has the best car insurance rate in Laredo, TX with USAA, State Farm, Safe Auto, and Nationwide completing the list. This demonstrates why it is critical to take the time to shop around when trying to get affordable car insurance rates for a Chevrolet Malibu.
Insurance rates are influenced by many things and can change without notice, so the cheapest rate the last time you shopped your coverage around may now be one of the more expensive options.
If you have questions and prefer to get some professional advice when shopping around for cheaper insurance for a Malibu, the insurance agencies below are willing to provide answers to your questions and help you determine which insurance coverage you need.
To locate a Laredo auto insurance agent using an interactive map, click the link at the bottom.
Pena Insurance
220 W Hillside Rd # 11 – Laredo, TX 78041 – (956) 724-9004
Farmers Insurance – Manuel Benavides
4001 McPherson Rd #105 – Laredo, TX 78041 – (956) 725-5901
Allstate Insurance Agent: Raul R. Martinez Jr
3802 TX-359 Ste 5 – Laredo, TX 78043 – (956) 729-8884
More insurance agents in Laredo, TX
How to find the cheapest insurance for a Chevrolet Malibu
The list below details some of the better money-saving solutions that can help you find cheap auto insurance.
- Drive attentively and avoid accidents
- Higher deductibles mean lower rates
- Pay for small claims rather than turning them in to your insurance company
- Do not get traffic citations
- Drop full coverage on older vehicles
- Comparison shop at least every other year
The last suggestion is especially important, as we discussed in this piece. Prices charged by auto insurers in Laredo fluctuate considerably, so drivers shouldn’t be reluctant to switch to a new company if a lower price can be found. Having brand loyalty is commendable, but it’s not a good idea if that loyalty ends up costing a wad of cash every year. It only take a few minutes to shop around and find cheaper car insurance for a Chevrolet Malibu.