Sad but true, the vast majority of consumers renewed their policy with the same company for a minimum of four years, and roughly 40% of drivers have never even compared rates from other companies. Consumers in Buffalo could save an average of approximately $800 each year just by comparing rates, but they don’t invest the time required to compare rates online.
The most effective way to save money on auto insurance rates in Buffalo is to compare prices annually from different companies in New York.
- Gain an understanding of how insurance companies determine prices and the things you can change to keep rates in check. Many factors that increase rates such as traffic tickets, fender benders, and a negative credit history can be remedied by making lifestyle changes or driving safer. Read the full article for ideas to prevent rate hikes and earn a bigger discount.
- Request rate estimates from direct, independent, and exclusive agents. Direct and exclusive agents can give quotes from one company like GEICO or Farmers Insurance, while independent agencies can provide prices for many different companies. View insurance agents
- Compare the new quotes to your current policy to see if switching to a new carrier will save money. If you find a lower rate and switch companies, make sure there is no coverage gap between policies.
- Provide notification to your current agent or company of your intent to cancel your current policy. Submit any necessary down payment along with the completed application to your new insurance company. As soon as you have the new policy, put the new proof of insurance certificate with your registration paperwork.
The most important part of shopping around is to make sure you’re comparing the same deductibles and limits on each price quote and and to get price quotes from as many auto insurance providers as possible. Doing this guarantees a level playing field and plenty of rates choose from.
If you have a policy now or are just looking to switch companies, follow these tips to get lower rates without sacrificing coverage. This article’s goal is to help educate you on the most effective way to quote insurance. Smart buyers only need to know the tricks to compare prices instantly.
Affordable companies for Chevy Equinox insurance in New York
The providers in the list below offer free rate quotes in New York. If your goal is to find cheap auto insurance in New York, we suggest you click on several of them in order to get a fair rate comparison.
Chevy Equinox insurance rates and statistics
The information displayed next showcases detailed analysis of coverage costs for Chevy Equinox models. Knowing how car insurance premiums are calculated helps drivers make smart choices when buying a car insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Equinox LS 2WD | $114 | $200 | $272 | $16 | $82 | $684 | $57 |
| Equinox LT 2WD | $114 | $200 | $272 | $16 | $82 | $684 | $57 |
| Equinox LS AWD | $114 | $200 | $272 | $16 | $82 | $684 | $57 |
| Equinox LT AWD | $114 | $200 | $272 | $16 | $82 | $684 | $57 |
| Equinox LTZ 2WD | $130 | $236 | $272 | $16 | $82 | $736 | $61 |
| Equinox LTZ AWD | $130 | $236 | $272 | $16 | $82 | $736 | $61 |
| Equinox LTZ AWD | $130 | $236 | $272 | $16 | $82 | $736 | $61 |
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Table data represents married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Table data does not factor in zip code location which can alter insurance rates noticeably.
Physical damage deductible comparison
One of the more difficult decisions when buying insurance is where should you set your physical damage deductibles. The premium rates below sum up the price difference when you select higher and lower comp and collision deductibles. The first rate table uses a $100 physical damage deductible and the second price chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Equinox LS 2WD | $228 | $412 | $264 | $16 | $80 | $1,025 | $85 |
| Equinox LT 2WD | $228 | $412 | $264 | $16 | $80 | $1,025 | $85 |
| Equinox LS AWD | $228 | $412 | $264 | $16 | $80 | $1,025 | $85 |
| Equinox LT AWD | $228 | $412 | $264 | $16 | $80 | $1,025 | $85 |
| Equinox LTZ 2WD | $258 | $484 | $264 | $16 | $80 | $1,127 | $94 |
| Equinox LTZ AWD | $258 | $484 | $264 | $16 | $80 | $1,127 | $94 |
| Equinox LTZ AWD | $258 | $484 | $264 | $16 | $80 | $1,127 | $94 |
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| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Equinox LS 2WD | $126 | $216 | $264 | $16 | $80 | $702 | $59 |
| Equinox LT 2WD | $126 | $216 | $264 | $16 | $80 | $702 | $59 |
| Equinox LS AWD | $126 | $216 | $264 | $16 | $80 | $702 | $59 |
| Equinox LT AWD | $126 | $216 | $264 | $16 | $80 | $702 | $59 |
| Equinox LTZ 2WD | $142 | $256 | $264 | $16 | $80 | $758 | $63 |
| Equinox LTZ AWD | $142 | $256 | $264 | $16 | $80 | $758 | $63 |
| Equinox LTZ AWD | $142 | $256 | $264 | $16 | $80 | $758 | $63 |
| Get Your Own Custom Quote Go | |||||||
Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New York minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Rate quotes do not factor in vehicle location which can raise or lower price quotes substantially.
We can derive from the above data that using a $100 deductible costs about $28 more each month or $336 each year than choosing the higher $1,000 deductible. Since you would pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you usually have at least 32 months between claim filings, you would probably come out ahead if you decide on a higher deductible. Here is how you can do this calculation yourself.
| Average monthly premium for $100 deductibles: | $89 |
| Average monthly premium for $1,000 deductibles (subtract): | – $61 |
| Monthly savings from raising deductible: | $28 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $28 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 32 months |
One big caveat is that raising deductibles results in having to pay to pay more out-of-pocket when you file a claim. You need enough money stashed away in the event you have to pay the deductible.
The diagram below shows how different deductible levels and can raise or lower Chevy Equinox insurance rates for different ages of insureds. The costs are based on a married female driver, comp and collision included, and no other discounts are factored in.
Chevrolet Equinox insurance premiums by gender and age
The information below illustrates the comparison of Chevy Equinox auto insurance rates for male and female drivers. The rate quotes are based on a clean driving record, no claims, comp and collision included, $1,000 deductibles, drivers are not married, and no additional discounts are factored in.
Does it make sense to buy full coverage?
The chart below compares Chevy Equinox auto insurance costs with full coverage compared to only the New York minimum liability coverage. The rate quotes are based on no claims, a clean driving record, $500 deductibles, drivers are single, and no policy discounts are applied.
Are you wasting money on full coverage?
There isn’t a written rule for phasing out physical damage insurance, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you may need to consider dropping full coverage.
For example, let’s pretend your Chevy Equinox book value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would get paid by your company is $7,000 after the deductible is paid. If premium cost is more than $700 annually to have full coverage, then you may want to consider only buying liability coverage.
There are some conditions where removing full coverage is not advised. If you still owe money on your vehicle, you have to maintain full coverage to protect the lienholder’s interest. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should not buy liability only.
Lower-cost Buffalo insurance rates with discounts
Insurance is not inexpensive, but you might be missing out on some discounts that you may not even be aware of. Many of these discounts will be applied automatically when you get a quote, but less common discounts must be asked for before you get the savings. If you do not double check each discount you deserve, you are throwing money away.
- Senior Citizens – Older drivers are able to get a slight reduction on a Buffalo car insurance quote.
- Driver Education Discount – Teen drivers should successfully take a driver’s education course in school.
- Discount for Low Mileage – Low mileage vehicles could qualify for lower premium rates on the low mileage vehicles.
- College Student – Youth drivers who are enrolled in a college that is more than 100 miles from Buffalo and do not have a car may be insured at a cheaper rate.
- More Vehicles More Savings – Buying coverage for more than one vehicle with the same company can get a discount on all vehicles.
- Auto/Life Discount – Some insurance companies give better rates if you take out auto and life insurance together.
- Active Service Discounts – Being deployed with a military unit could be rewarded with lower rates.
- Multiple Policy Discount – If you combine your home and auto policies and place coverage with the same company you will save at least 10 to 15 percent or more.
As a sidenote, most credits do not apply to the entire cost. A few only apply to specific coverage prices like comprehensive or collision. Even though it appears it’s possible to get free car insurance, that’s just not realistic. Any qualifying discounts will definitely lower your policy cost.
The information below shows the difference between Chevy Equinox insurance prices with and without discounts applied to the premium. The data assumes a female driver, no accidents or driving violations, New York state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, safe-driver, marriage, homeowner, and claim-free discounts applied.
Larger insurance companies and some of their more popular discounts are detailed below.
- American Family may offer discounts for bundled insurance, multi-vehicle, good driver, air bags, and Steer into Savings.
- Farm Bureau has discounts for renewal discount, safe driver, multi-policy, youthful driver, multi-vehicle, and driver training.
- State Farm discounts include defensive driving training, driver’s education, anti-theft, good driver, and good student.
- Travelers offers discounts for early quote, IntelliDrive, driver training, continuous insurance, hybrid/electric vehicle, and student away at school.
- The Hartford has savings for good student, bundle, vehicle fuel type, air bag, and defensive driver.
- GEICO offers premium reductions for multi-policy, military active duty, good student, anti-theft, anti-lock brakes, and driver training.
- Progressive policyholders can earn discounts including homeowner, multi-policy, continuous coverage, online signing, and online quote discount.
If you are trying to find low cost Buffalo car insurance quotes, ask each insurance company how many discounts you can get. Depending on the company, some discounts might not be offered on policies in Buffalo.
Insurance agents near you
A small number of people still like to sit down and talk to an agent and that is a personal choice. Professional agents can help determine the best coverages and help you file claims. One of the great benefits of price shopping on the web is that you can find cheaper premium rates and still have a local agent.
To find an agent, once you fill out this quick form, your coverage information is sent to local insurance agents who will give you bids for your insurance coverage. You won’t even need to search for an agent since price quotes are sent to your email. If you wish to get a price quote from a specific insurance provider, just find their quoting web page and fill out the quote form the provide.
Deciding on an provider requires you to look at more than just the quoted price. The following questions are important to ask.
- When do they do a full risk review?
- Can you use your own choice of collision repair facility?
- Do the coverages you’re quoting properly cover your vehicle?
- Do they make recommendations based only on price?
- Where would your vehicle be repaired?
- Has the agent ever had any license suspensions?
Insurance coverages and their meanings
Learning about specific coverages of a insurance policy can help you determine which coverages you need and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy.
Comprehensive protection
This pays for damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers claims like fire damage, rock chips in glass, hitting a bird and vandalism. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.
Liability insurance
Liability coverage can cover damages or injuries you inflict on other people or property. This coverage protects you from legal claims by others, and doesn’t cover damage to your own property or vehicle.
Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 25/50/10 which stand for $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and a total limit of $10,000 for damage to vehicles and property.
Liability can pay for claims such as medical expenses, funeral expenses, bail bonds, structural damage and loss of income. How much liability should you purchase? That is your choice, but consider buying higher limits if possible. New York state minimum liability requirements are 25/50/10 but drivers should carry more coverage.
The chart below demonstrates why low liability limits may not provide adequate coverage.
Uninsured or underinsured coverage
This protects you and your vehicle when other motorists do not carry enough liability coverage. It can pay for injuries to you and your family as well as your vehicle’s damage.
Since many New York drivers have only the minimum liability required by law (25/50/10), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked.
Medical expense coverage
Med pay and PIP coverage pay for immediate expenses such as hospital visits, doctor visits, prosthetic devices, rehabilitation expenses and ambulance fees. They are utilized in addition to your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants in addition to any family member struck as a pedestrian. PIP coverage is only offered in select states and may carry a deductible
Collision coverage protection
This coverage pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.
Collision can pay for things such as hitting a parking meter, damaging your car on a curb, sideswiping another vehicle and crashing into a ditch. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. Another option is to increase the deductible on your Equinox to bring the cost down.
Smart shoppers get results
Insureds who switch companies do it for a variety of reasons including being labeled a high risk driver, denial of a claim, poor customer service and lack of trust in their agent. It doesn’t matter what your reason, finding a great new company can be less work than you think.
We just showed you many ways to get a better price on Chevy Equinox insurance in Buffalo. It’s most important to understand that the more rate quotes you have, the better your comparison will be. You may even be surprised to find that the biggest savings come from a lesser-known regional company.
When searching for the cheapest Chevrolet Equinox rate quotes, it’s very important that you do not sacrifice coverage to reduce premiums. There are too many instances where consumers will sacrifice full coverage and learned later that the savings was not a smart move. The aim is to get the best coverage possible at the best price, but do not skimp to save money.
Additional information can be read below:
- Self-driving cars won’t replace humans (Insurance Institute for Highway Safety)
- Who Has the Cheapest Buffalo Auto Insurance Rates for a Nissan Rogue? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for a Toyota Highlander in Buffalo? (FAQ)
- Who Has the Cheapest Auto Insurance for Low Mileage Drivers in Buffalo? (FAQ)
- Who Has the Cheapest Buffalo Car Insurance for a Jeep Wrangler? (FAQ)
- Who Has the Cheapest Buffalo Car Insurance Rates for Low Income Drivers? (FAQ)
- How Much are Auto Insurance Rates for a Jeep Grand Cherokee in Buffalo? (FAQ)
- Safety Features for Your New Car (State Farm)
- Shopping for a Safe Car (Insurance Information Institute)
- All About Airbag Safety (State Farm)