Finding competitive car insurance for a Chevrolet Equinox in New York can be really easy, but it hinges on a complicated rating formula that uses factors such as how many years you have been driving, your profession, and the deductible amount you use. Drivers pay approximately $795 annually to insure their Equinox, but that is an estimation based upon a 40-year-old married male driver with full physical damage coverage and $250 deductibles.
Odds are that you aren’t exactly 40 years old or even a male, you might be single instead of married, or maybe you have a teenager that needs to be on your policy. Even a slight change in rating factors or requested coverage amount could end up in a significant change in the coverage rate.
Each driver’s needs are different, and that demonstrates why the best method for finding affordable rates for your Chevrolet is to just compare rates yourself. Rate quotes are easy and you will get price quotes from some of the cheapest companies around.
The specific model of Equinox tends to impact the cost of coverage, so the cost to insure a Equinox LS 2WD model will be $80 cheaper than the cost to insure the more well-appointed Equinox LTZ AWD version, as demonstrated by the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Equinox LS 2WD||$186||$318||$272||$16||$82||$874||$73|
|Equinox LT 2WD||$186||$318||$272||$16||$82||$874||$73|
|Equinox LS AWD||$186||$318||$272||$16||$82||$874||$73|
|Equinox LT AWD||$186||$318||$272||$16||$82||$874||$73|
|Equinox LTZ 2WD||$210||$374||$272||$16||$82||$954||$80|
|Equinox LTZ AWD||$210||$374||$272||$16||$82||$954||$80|
|Equinox LTZ AWD||$210||$374||$272||$16||$82||$954||$80|
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Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and New York minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Information does not factor in the specific area where the vehicle is garaged which can modify premium rates substantially.
Finding the right insurer can be difficult considering how many choices there are in New York. The company ratings in the next section could help you choose which auto insurers you want to consider comparing rates from.
These rankings only include major nationwide insurance companies, so smaller regional companies are not taken into consideration for this list. To get price quotes from these and other top-rated companies, follow this link.
Top 10 Large Auto Insurance Companies in Buffalo Ranked by Customer Satisfaction
- The Hartford – 93%
- The General – 91%
- Progressive – 90%
- 21st Century – 89%
- Erie Insurance – 88%
- USAA – 87%
- State Farm – 87%
- Travelers – 87%
- Mercury Insurance – 87%
- Safeco Insurance – 86%
Top 10 Large Auto Insurance Companies in Buffalo Ranked by Claims Service
- Liberty Mutual
- State Farm
- The General
- The Hartford
- 21st Century
The illustration below illustrates how your choice of deductibles can raise or lower insurance premiums when quoting cheap insurance for a Chevrolet Equinox. The data assumes a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
A 40-year-old driver could cut expenses by $250 a year by increasing from a $100 deductible to a $500 deductible, or save $378 by switching to a $1,000 deductible. Even younger drivers, like the Age 20 category, could possibly save up to $628 each year by using higher deductibles when buying full coverage.
When choosing a higher deductible, it will be necessary to have emergency funds available to allow you to pay the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
How accidents and violations affect rates
The easiest method to maintain the most affordable car insurance premiums in Buffalo for an Equinox is to be a safe driver and avoid at-fault accidents and violations. The example below demonstrates how speeding tickets and at-fault fender-benders impact auto insurance costs for different age groups. The information is based on a married female driver, full physical damage coverage, $500 deductibles, and no discounts are applied to the premium.
In the previous example, the average cost of auto insurance per year with no violations or accidents is $1,141. Factor in two speeding tickets and the average cost rises to $1,615, an increase of $474 each year. Then throw in two accidents along with the two speeding tickets and the yearly cost of car insurance for a Chevrolet Equinox jumps again to an average of $3,467. That’s an increase of $2,325, or $194 per month, just for not keeping your driving record clean!
Here’s why price comparisons are so important
Buffalo, NY car insurance rates are based on many factors which can substantially decrease or increase the cost of your policy. Turning one year older, buying a different vehicle, or getting a driving violation can trigger changes in premium that can cause some rates to be more affordable than before. In addition, insurers amend pricing without warning to ensure their profitability. A period of higher than normal claims may cause additional price hikes, while less frequent claims may cause cheaper Equinox insurance rates.
To illustrate this point, the chart below shows which companies have the cheapest car insurance in Buffalo, NY for a 40-year-old female driver with a good driving record, no prior claims, and great credit. If we look at prices based on her current risk factors, USAA has the best car insurance rates in Buffalo at $1,975 a year. This is $100 less than the average price paid by New York drivers of $2,075. Erie, Progressive, Allstate, and Utica National are the remainder of the best Buffalo, NY auto insurance companies.
In the next rate comparison, we’ll give the driver from the above example a chargeable accident, poor credit, and a speeding ticket. Since each auto insurer has a unique formula for filing rates in each state, analyzing rates may now result in a significantly different list of companies as shown below.
Amica now has the cheapest price in Buffalo with MetLife, Erie, Preferred Mutual, and New York Central Mutual now being in the top five. This illustrates why consumers need to take the time to compare lots of rates when trying to get the most economical car insurance rates for a Chevrolet Equinox.
Rates are influenced by many different factors and can change substantially, so the cheapest rate three years ago may now be an over-priced policy.
How to find low-cost insurance for a Chevrolet Equinox
The list below summarizes many thrifty ideas that can help Buffalo drivers locate more affordable auto insurance.
- You will pay more if you get tickets or have at-fault accidents
- Higher credit ratings may save you money
- Avoid having at-fault accidents
- Don’t waste money on full coverage for older vehicles
- Drive a car with a high safety rating
- Higher physical damage deductibles lower rates
- Compare rates once a year for cheaper prices
The last tip in the list is certainly significant, as we hit on in this piece. Prices charged by companies adjust frequently, so you should be ready to change to a new company if a more affordable rate is found.
Many consumers stick with the same company and that’s fine, but it’s not a great idea if that stubbornness costs you a lot of money every month. If you have a few minutes, now is a great time to shop around and find cheaper auto insurance for a Chevrolet Equinox in Buffalo.