Save Money on Chevy Camaro Insurance in Buffalo

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Unbelievable but true, the majority of drivers kept their policy with the same company for at least the last four years, and 38% of customers have never compared rates with other companies. Drivers in Buffalo could save up to 45% each year, but they just assume it takes a lot of time to save money by comparing rate quotes.

Discount Chevy Camaro insuranceIf saving the most money is your goal, then the best way to get low-cost Chevy Camaro insurance is to make a habit of comparing prices annually from insurers who provide car insurance in Buffalo. Prices can be compared by following these guidelines.

  1. Try to learn a little about auto insurance and the measures you can control to prevent expensive coverage. Many risk factors that drive up the price like speeding tickets, accidents and a low credit score can be amended by making minor driving habit or lifestyle changes. Later in this article we will cover ideas to find cheap prices and find available discounts that you may qualify for.
  2. Quote rates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only quote rates from one company like GEICO or Allstate, while independent agencies can give you price quotes from many different companies.
  3. Compare the new rates to the price on your current policy and determine if cheaper Camaro coverage is available. If you find a lower rate quote and change companies, make sure coverage does not lapse between policies.

One tip to remember is that you'll want to make sure you compare identical deductibles and limits on each price quote and and to look at all possible companies. Doing this enables a fair price comparison and a complete price analysis.

If you are insured now or are shopping for new coverage, take advantage of these tips to find the best rates while maintaining coverages. Comparison shopping for more affordable policy in Buffalo is not as hard as you think. Smart shoppers only need to know the most time-saving way to compare prices from many companies at once.

The most recommended method to compare insurance rates from multiple companies is to know the trick almost all companies pay for the opportunity to quote your coverage. All you need to do is take a few minutes to give details such as your education level, distance driven, whether you are single or married, and deductibles desired. That information is submitted instantly to many highly-rated insurers and you should receive rate quotes very quickly.

To check rates for your Chevy Camaro now, click here and complete the form.

The car insurance companies shown below are our best choices to provide free rate quotes in Buffalo, NY. If you wish to find cheap auto insurance in Buffalo, NY, it's highly recommended you click on several of them to find the cheapest car insurance rates.

Car insurance statistics and figures

The rate information displayed next highlights detailed analysis of insurance prices for Chevy Camaro models. Having a better idea how insurance prices are calculated can be useful when making decisions on which insurance to purchase.

Chevrolet Camaro Insurance Rates in Buffalo, NY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camaro LS $222 $476 $300 $18 $90 $1,106 $92
Camaro LT $222 $476 $300 $18 $90 $1,106 $92
Camaro SS $246 $546 $300 $18 $90 $1,200 $100
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Table data represents single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and New York minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Price information does not factor in specific garaging location which can revise premium rates greatly.

Policy deductible comparison

A question often asked by Buffalo drivers is how high should the deductibles for physical damage be. The following insurance rates illustrate how much more rates are when you buy lower versus higher coverage deductibles. The first data table uses a $250 physical damage coverage deductible and the second rate chart uses a $1,000 deductible.

Chevrolet Camaro insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camaro LS $230 $406 $264 $16 $80 $1,021 $85
Camaro LT $230 $406 $264 $16 $80 $1,021 $85
Camaro SS $258 $468 $264 $16 $80 $1,111 $93
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Chevrolet Camaro insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camaro LS $142 $256 $264 $16 $80 $758 $63
Camaro LT $142 $256 $264 $16 $80 $758 $63
Camaro SS $158 $294 $264 $16 $80 $812 $68
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Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and New York minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, multi-policy, and claim-free. Rates do not factor in specific zip code location which can revise coverage prices greatly.

Using the premium rates above, we can conclude that using a $250 deductible will cost you approximately $23 more each month or $276 a year averaged for all Camaro models than buying the higher $1,000 deductible. Since you would pay $750 more to file a claim with a $1,000 deductible as compared to a $250 deductible, if you have at least 33 months between claim filings, you would save more money by selecting a higher deductible.

How to determine when to raise deductibles

Average monthly premium for $250 deductibles: $88
Average monthly premium for $1,000 deductibles (subtract): - $65
Monthly savings from raising deductible: $23
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $23
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 33 months

One important issue to know is that a higher deductible results in more money out-of-pocket when you do file a claim. You need access to more funds in the event you need to pay the deductible.

Cost difference between full coverage and liability

The illustration below visualizes the comparison of Chevy Camaro annual premium costs with full physical damage coverage compared to only buying liability only. The information is based on no violations or accidents, $100 deductibles, drivers are single, and no discounts are taken into consideration.

When to switch to liability coverage only

There is no definitive rule to stop paying for comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than around 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.

For example, let's say your Chevy Camaro settlement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $2,000 after the policy deductible has been paid. If premium cost is more than $200 a year to have full coverage, then it may be the right time to buy liability only.

There are a few cases where dropping physical damage coverage is not a good idea. If you still have a lienholder on your title, you have to maintain full coverage in order to keep the loan. Also, if you don't have enough money to buy a different vehicle if your current one is totaled, you should keep full coverage.

Smart Consumers Save Money

Lots of factors are taken into consideration when you get a price on insurance. Most are fairly basic such as your driving history, although others are more obscure like your continuous coverage or how financially stable you are. A large part of saving on auto insurance is knowing some of the factors that help determine your premiums. If you understand what determines premiums, this allows you to make good choices that can help you get big savings.

Get a ticket, pay higher premiums - How you drive has a lot to do with how much you pay for insurance. Just one citation can increase the cost of insurance forty percent or more. Drivers who don't get tickets get better prices as compared to those with violations. Drivers who have received flagrant violations such as DUI, reckless driving or excessive speeding may find they need to complete a SR-22 with their state's department of motor vehicles in order to legally drive.

The information below shows how speeding tickets and accident claims can drive up Chevy Camaro car insurance rates for different age categories. The data is based on a single male driver, full physical damage coverage, $1,000 deductibles, and no policy discounts are applied.

Extra coverages can add up - Insurance policies have a lot of extra coverages that you can get tricked into buying if you aren't careful. Insurance for vanishing deductibles, towing, and membership fees are some examples. They may seem good when talking to your agent, but if you've never needed them in the past eliminate the coverages to reduce your premium.

Teenage drivers pay more - Youthful drivers in New York are statistically shown to be more careless when driving and because of this, their auto insurance rates are much higher. Older, more experienced drivers are shown to be more cautious, tend to file fewer claims, and get fewer tickets.

The chart below is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.

How do annual miles impact prices? - The more miles you rack up on your Chevy each year the more you will pay for auto insurance. Almost all companies calculate prices partially by how you use the vehicle. Cars and trucks that do not get driven very much cost less to insure as compared to vehicles used primarily for driving to work. Having the wrong rating on your Camaro can result in significantly higher rates. Ask your agent if your vehicle rating correctly shows how each vehicle is driven, because it can save money.

Can a thief steal your car? - Buying a car with anti-theft technology or alarm system can save you some money. Anti-theft devices such as OnStar, LoJack tracking, and tamper alarms help track and prevent car theft.

Insurance loss data for Chevy Camaro vehicles - Insurers analyze past claim statistics when they calculate premium prices for each model. Vehicles that the data shows to have a trend towards higher claims will have increased rates. The table shown below demonstrates the insurance loss data for Chevy Camaro vehicles.

For each coverage category, the loss probability for all vehicles, regardless of make, model or trim level, is represented as 100. Values that are 100 or less are indicative of better than average losses, while values that are above 100 point to more claims or statistically larger claims.

Auto Insurance Loss Data for Chevrolet Camaro Models
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Chevrolet Camaro 2dr 139 118 123 123 130 127
Chevrolet Camaro Convertible 92 85 107 85 95 103
Chevrolet Camaro ZL1 2dr 222 80 174
Chevrolet Camaro ZL1 Convertible 111 113
BETTER
AVERAGE
WORSE

Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Auto insurance is not optional in New York

Despite the high cost of buying insurance for a Chevy Camaro in Buffalo, buying auto insurance may be required and benefits you in several ways.

  • Just about all states have minimum liability requirements which means the state requires a specific level of liability protection in order to drive the car legally. In New York these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
  • If your Chevy has a loan, it's most likely the lender will require you to have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the lender will be forced to insure your Chevy at a much higher premium rate and force you to pay the higher premium.
  • Auto insurance preserves not only your Chevy but also your assets. It also can pay for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. Liability insurance, one of your policy coverages, also covers all legal expenses up to the policy limit if you cause an accident and are sued. If your Chevy gets damaged, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.

The benefits of having insurance more than cancel out the cost, particularly for liability claims. The average driver in America is overpaying more than $820 a year so we recommend shopping around each time the policy renews to make sure the price is not too high.