Compare 2002 Chevrolet Camaro Car Insurance Cost

Feel like you’re a prisoner to an underperforming, overpriced auto insurance policy? Trust us, you are not the only one feeling buyer’s remorse. Drivers have so many insurers to choose from, and though it is a good thing to have multiple companies, too many choices makes it more difficult to compare rates and cut insurance costs.

It’s a great practice to compare prices periodically because prices fluctuate regularly. If you had the lowest price on Camaro coverage a few years ago there is a good chance you can find better rates now. Starting now, forget anything you know (or think you know) about auto insurance because I’m going to teach you how to quote online to save on auto insurance.

This information will familiarize you with the best way to quote coverages. If you currently have a car insurance policy, you will most likely be able to reduce your rates substantially using these tips. Consumers only need an understanding of the proper methods to shop on the web.

Lower rates by qualifying for discounts

Insuring your vehicles can cost a lot, but discounts can save money and there are some available to help offset the cost. Certain discounts will be triggered automatically at the time of purchase, but some must be requested specifically before they will apply. If you aren’t receiving every discount available, you’re just leaving money on the table.

  • Life Insurance Discount – Some companies give a break if you buy auto and life insurance together.
  • Low Mileage Discounts – Low mileage vehicles can earn lower rates on the low mileage vehicles.
  • Drivers Ed for Students – Cut your cost by having your teen driver take driver’s ed class in high school.
  • Safe Drivers – Drivers who don’t get into accidents may receive a discount up to 45% less on Camaro coverage than drivers with accident claims.
  • Claim Free – Drivers with accident-free driving histories can earn big discounts as compared to accident-prone drivers.

A little note about advertised discounts, some credits don’t apply to the overall cost of the policy. Most only reduce the price of certain insurance coverages like medical payments or collision. So even though they make it sound like all those discounts means the company will pay you, companies don’t profit that way. But all discounts will bring down the cost of coverage.

A partial list of companies that may offer these discounts may include but are not limited to:

Check with each company how you can save money. Some discounts may not apply in every state.

Factors influencing Chevy Camaro insurance rates

It’s important that you understand the different types of things that go into determining the rates you pay for car insurance. Having a good understanding of what impacts premium levels helps enable you to make changes that could result in big savings.

Listed below are some of the factors that factor into premiums.

  • Cautious drivers pay less – Your driving citation history impacts your car insurance rates tremendously. Just one moving violation can increase rates by as much as thirty percent. Good drivers have lower premiums than people who have multiple driving citations. Drivers who have severe citations like DWI, reckless driving or hit and run convictions may need to submit a SR-22 form with their state DMV in order to drive a vehicle legally.
  • One company can mean more discounts – Most car insurance companies give discounts to policyholders who have multiple policies with them such as combining an auto and homeowners policy. This can amount to ten or even up to twenty percent in some cases. Even if you’re getting this discount it’s still a good idea to shop around to ensure the best deal.
  • Drive less and save money – The more miles you rack up on your Chevy in a year’s time the higher your rates will be. Most companies apply a rate based on their usage. Vehicles left parked in the garage receive lower rates as compared to vehicles used primarily for driving to work. Improper usage on your Camaro can cost quite a bit. Make sure your car insurance policy is showing how each vehicle is driven, because improper ratings can cost you money.
  • Frequent car insurance claims increase rates – If you file claims often, you can definitely plan on either higher rates or even cancellation. Auto insurance companies give discounts to drivers who do not file claims often. Car insurance is intended for major claims that would cause financial hardship.
  • Males pay more for insurance – Statistics show that women are safer drivers than men. However, this does not mean women are BETTER drivers than men. They both cause accidents in similar numbers, but men have costlier accidents. Men also have more aggressive citations such as reckless driving. Young males are the most expensive to insure and are penalized with high car insurance rates.
  • No coverage gaps is important – Having an insurance coverage lapse will be a fast way to increase your car insurance rates. Not only will rates go up, but not being able to provide proof of insurance may earn you a revoked license or a big fine.
  • Do you know your deductibles? – Your deductibles represent how much money you are required to spend out-of-pocket in the event of a claim. Coverage for physical damage, termed comprehensive and collision coverage on your policy, covers damage that occurs to your car. A few examples of covered claims are colliding with a building, vandalism, and windstorm damage. The higher the amount you have to pay, the less your company will charge you for insurance on Camaro coverage.

Car insurance is unique, just like you

When choosing proper insurance coverage for your vehicles, there isn’t really a “best” method to buy coverage. Everyone’s needs are different and your policy should reflect that. These are some specific questions might point out if you might need an agent’s assistance.

  • Do I need roadside assistance coverage?
  • Is my 2002 Chevy Camaro covered for smoke damage?
  • Why do I need rental car insurance?
  • Am I covered if I hit a deer?
  • How high should my uninsured/underinsured coverage be in my state?
  • How do I insure my teen driver?
  • Am I covered if I crash into my own garage door?

If you’re not sure about those questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form or you can go here for a list of companies in your area. It is quick, free and may give you better protection.

Ads can be misleading

Consumers constantly see and hear ads for the lowest price auto insurance from companies such as Allstate and Progressive. All the companies make an identical promise that you can save if you change your policy.

How does each company make the same claim? It’s all in the numbers.

Insurance companies can use profiling for the driver that makes them money. For example, a profitable customer might be between the ages of 30 and 50, has no driving citations, and chooses high deductibles. A propective insured that hits that “sweet spot” will get the preferred rates and therefore will cut their rates substantially.

Potential customers who are not a match for the requirements must pay higher prices and ends up with the customer not buying. The ads say “drivers who switch” but not “drivers who get quotes” save that kind of money. This is how companies can truthfully make those claims.

This illustrates why drivers should compare as many rates as you can. It’s just too difficult to predict the company that will provide you with the cheapest Chevy Camaro insurance rates.

Car insurance coverage options for a Chevy Camaro

Understanding the coverages of a car insurance policy aids in choosing the right coverages and the correct deductibles and limits. The coverage terms in a policy can be confusing and nobody wants to actually read their policy. Listed below are the normal coverages available from car insurance companies.

Liability

Liability insurance can cover damage or injury you incur to other’s property or people in an accident. This coverage protects you against claims from other people, and doesn’t cover damage to your own property or vehicle.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You might see limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000. Occasionally you may see a combined limit that pays claims from the same limit with no separate limits for injury or property damage.

Liability coverage pays for claims like court costs, structural damage, medical services, bail bonds and medical expenses. How much liability should you purchase? That is a decision to put some thought into, but buy as high a limit as you can afford.

Uninsured or underinsured coverage

Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they do not carry enough liability coverage. Covered claims include hospital bills for your injuries as well as damage to your Chevy Camaro.

Since a lot of drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked. Most of the time the UM/UIM limits are set the same as your liablity limits.

Auto collision coverage

Collision insurance will pay to fix damage to your Camaro resulting from colliding with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.

Collision can pay for claims such as colliding with another moving vehicle, scraping a guard rail, rolling your car and crashing into a building. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. It’s also possible to choose a higher deductible to get cheaper collision coverage.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses such as chiropractic care, hospital visits and EMT expenses. They are used in conjunction with a health insurance program or if there is no health insurance coverage. It covers all vehicle occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage

Comprehensive protection

This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things like a tree branch falling on your vehicle, fire damage and rock chips in glass. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Smart shoppers get results

We just covered some good ideas how you can lower your 2002 Chevy Camaro insurance rates. It’s most important to understand that the more quotes you get, the better chance you’ll have of finding lower rates. You may even discover the lowest priced insurance coverage comes from a company that doesn’t do a lot of advertising. These companies may often insure only within specific states and give getter rates than the large multi-state companies such as Allstate or State Farm.

When shopping online for insurance coverage, it’s a bad idea to skimp on critical coverages to save a buck or two. There are many occasions where someone sacrificed physical damage coverage and learned later that they should have had better coverage. Your focus should be to find the BEST coverage for the lowest price.

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