How Much Does 2016 Chevrolet Camaro Car Insurance Cost?

Looking for the cheapest auto insurance rates for your Chevrolet Camaro? Comparison shopping for auto insurance is always hard for people who are new to buying insurance online. Consumers have so many options available that it can quickly become a lot of work to compare prices.

Don’t pay full price with these discounts

Insurance can cost an arm and a leg, but you may find discounts that you may not know about. Most are applied at the time of quoting, but some must be manually applied prior to receiving the credit.

  • Passive Restraint Discount – Vehicles equipped with air bags can get savings of up to 25% or more.
  • Low Mileage – Low mileage vehicles can qualify you for better rates on cars that stay parked.
  • Accident Waiver – A handful of insurance companies will allow you to have one accident before raising your premiums if you are claim-free for a particular time prior to the accident.
  • Anti-theft Discount – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and will save you 10% or more.
  • College Student – Kids in college who live away from home and do not have a car can be insured at a reduced rate.

Drivers should understand that some of the credits will not apply to the entire cost. Some only apply to specific coverage prices like comprehensive or collision. Just because you may think you could get a free insurance coverage policy, it just doesn’t work that way. But all discounts will cut your premiums.

For a list of providers who offer insurance coverage discounts, click here.

Chevy Camaro rate determination is complex

It’s important that you understand some of the elements that play a part in calculating the price you pay for car insurance. Knowing what controls the rates you pay empowers consumers to make smart changes that will entitle you to big savings.

  • Poor credit can mean higher rates – Your credit history is a huge factor in determining your rates. So if your credit is not that good, you could pay less to insure your 2016 Chevrolet Camaro by improving your credit score. Drivers with high credit ratings tend to file fewer claims and have better driving records as compared to drivers with lower credit scores.
  • Higher deductibles cost less – Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, is used to repair damage to your Chevy. Examples of covered claims are colliding with a building, damage caused by hail, and burglary. The deductibles are how much you are willing to pay before your car insurance pays a claim. The more you’re willing to pay, the less your car insurance will be on Camaro insurance.
  • Bad driving skills means higher rates – Just one citation may increase your cost forty percent or more. Drivers with clean records get better rates than people who have multiple driving citations. Drivers who have severe citations like hit and run, DWI or reckless driving convictions may need to file a proof of financial responsibility form (SR-22) with their state DMV in order to drive a vehicle legally.
  • Bundling policies can get discounts – Most insurers will award you with lower prices to people who carry more than one policy, otherwise known as a multi-policy discount. Even if you’re getting this discount you may still want to compare rates to ensure the best deal.
  • Policy add-ons can waste money – There are a ton of add-on coverages that you can get tricked into buying on your car insurance policy. Coverages for rental car reimbursement, accidental death and membership fees are some examples. They may seem like a good idea when you first buy your policy, but your needs may have changed so eliminate them to save money.

Your personal situation dictates your coverage

When choosing the best auto insurance coverage, there is no “best” method to buy coverage. Your needs are not the same as everyone else’s.

For instance, these questions could help you determine whether you would benefit from an agent’s advice.

  • Does coverage extend to Mexico or Canada?
  • Is my Chevy Camaro covered if I use it for business?
  • Do I need an umbrella policy?
  • Will my rates increase for filing one claim?
  • Is my state a no-fault state?
  • Is my vehicle covered by my employer’s policy when using it for work?

If it’s difficult to answer those questions then you might want to talk to a licensed agent. To find lower rates from a local agent, fill out this quick form.

Don’t believe everything you hear

Companies like State Farm and Allstate regularly use ads on TV and radio. All the ads say the same thing that you’ll save big if you move to their company. How do they all claim to save you money? This is how they do it.

Different companies are able to cherry pick for the driver that is profitable for them. For example, a profitable customer might be profiled as a mature driver, has no tickets, and has great credit. A propective insured who meets those qualifications receives the best rates and therefore will save when they switch companies.

Potential customers who are not a match for these standards will be quoted higher rates which usually ends up with the driver buying from a lower-cost company. The ads state “drivers who switch” not “everyone that quotes” save that much money. This is how companies can make those claims.

This emphasizes why it’s extremely important to get a wide range of price quotes. It’s impossible to know which insurance coverage company will provide you with the cheapest Chevy Camaro insurance rates.

Insurance policy coverages for a 2016 Chevy Camaro

Learning about specific coverages of your insurance policy can be of help when determining the best coverages at the best deductibles and correct limits. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording.

Medical expense insurance

Med pay and PIP coverage provide coverage for bills for things like rehabilitation expenses, EMT expenses, nursing services, pain medications and ambulance fees. They can be used in conjunction with a health insurance program or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants and will also cover if you are hit as a while walking down the street. PIP is only offered in select states and may carry a deductible

Protection from uninsured/underinsured drivers

Uninsured or Underinsured Motorist coverage gives you protection when other motorists either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your 2016 Chevy Camaro.

Since a lot of drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked. Usually these coverages do not exceed the liability coverage limits.

Liability coverage

Liability coverage protects you from damage or injury you incur to other people or property that is your fault. This insurance protects YOU from legal claims by others, and doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property. Another option is one limit called combined single limit (CSL) that pays claims from the same limit without having the split limit caps.

Liability coverage pays for claims like funeral expenses, structural damage and medical services. How much coverage you buy is a decision to put some thought into, but consider buying as high a limit as you can afford.

Comprehensive (Other than Collision)

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

Comprehensive coverage pays for things like hitting a bird, vandalism and a broken windshield. The maximum amount your insurance company will pay is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Collision insurance

Collision coverage covers damage to your Camaro resulting from a collision with an object or car. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things such as scraping a guard rail, hitting a mailbox, colliding with a tree, hitting a parking meter and crashing into a ditch. This coverage can be expensive, so analyze the benefit of dropping coverage from older vehicles. You can also raise the deductible in order to get cheaper collision rates.

Spend less. Save more.

You just learned many ways to reduce 2016 Chevy Camaro insurance prices online. The most important thing to understand is the more providers you compare, the higher your chance of finding lower rates. You may even discover the lowest premiums are with the smaller companies.

Consumers change insurance companies for a number of reasons such as extreme rates for teen drivers, an unsatisfactory settlement offer, delays in paying claims or questionable increases in premium. Whatever your reason, finding a great new company is less work than it seems.

Budget-conscious insurance is attainable from both online companies and with local insurance agents, and you need to price shop both in order to have the best chance of saving money. Some insurance providers do not offer you the ability to get quotes online and usually these small, regional companies provide coverage only through local independent agents.

Additional car insurance information is located on the following sites: