Cheapest Insurance for a Chevy Aveo in Nashville

The recommended way to get discount Chevy Aveo insurance in Nashville is to compare prices at least once a year from insurance carriers who provide car insurance in Tennessee. You can shop around by following these guidelines.

• First, get a basic knowledge of policy coverages and the measures you can control to prevent rate increases. Many factors that are responsible for high rates like distracted driving and a less-than-favorable credit history can be remedied by making minor changes in your lifestyle. This article gives additional tips to help find cheaper rates and find missing discounts.
• Second, quote rates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only provide price estimates from a single company like Progressive or State Farm, while independent agencies can quote prices from many different companies. Get quotes now
• Third, compare the new rates to your current policy premium and determine if there is any savings. If you can save some money and buy the policy, make sure coverage is continuous and does not lapse.
• Fourth, notify your current company to cancel your existing policy and submit a down payment along with a completed application to your new company or agent. Once coverage is bound, put the new certificate verifying coverage in a readily accessible location in your vehicle.

The critical component of shopping around is that you’ll want to compare similar deductibles and liability limits on each quote request and and to get price estimates from as many carriers as you can. This helps ensure a fair rate comparison and many rates to choose from.

A recent study showed that over 70% of drivers kept buying from the same company for a minimum of four years, and just under half have never quoted car insurance rates at all. Tennessee consumers can cut their rates by nearly 35% a year by just comparing rate quotes, but they just assume it’s a time-consuming process to find cheap rates by getting comparison quotes.

If you have insurance now, you should be able to shop for the lowest rates using the concepts covered in this article. Our goal is to teach you a little about the best methods to compare rates and some money-saving tips. Nevertheless, Tennessee vehicle owners need to have an understanding of how the larger insurance companies price insurance differently and apply this information to your search.

Detailed insurance information

The premium information displayed below outlines a range of prices for Chevy Aveo models. Having a good understanding how prices are determined can aid in making decisions on the best policy coverages.

Prices based on married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Rates do not factor in your specific Nashville location which can change rates noticeably.

Deductible comparison

One of the more difficult decisions when buying auto insurance is what deductibles to buy. The premium rates below can help you visualize the difference in cost when you choose different comp and collision deductibles. The first set of rates uses a $250 comprehensive and collision deductible and the second data table uses a $500 deductible.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, safe-driver, and multi-policy. Price estimates do not factor in zip code location which can change insurance rates significantly.

Based on the above data, using a $250 deductible costs about $13 more each month or $156 every year than opting for the higher $500 deductible. Since you would pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you tend to go more than 19 months between claims, you would probably be better off going with the higher deductible.

One thing to note is that increasing deductibles to lower your rates means you will have to pay more out-of-pocket when you have a comprehensive or collision claim. That will require some savings in the event you need to pay the deductible to have repairs made.

The information below shows how choosing a deductible and can increase or decrease Chevy Aveo insurance costs for each different age category. The prices are based on a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.

How much more does full coverage cost?

The chart below shows the difference between Chevy Aveo annual premium costs with full physical damage coverage compared to only buying liability only. The premiums assume a clean driving record, no at-fault accidents, $250 deductibles, single status, and no discounts are taken into consideration.

Should you pay for full coverage?

There is no set guideline to drop comp and collision coverage, but there is a guideline you can consider. If the yearly cost of full coverage is more than 10% of the replacement cost minus the deductible, then it might be time to consider dropping full coverage.

For example, let’s assume your Chevy Aveo replacement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $2,000 after paying the physical damage deductible. If you are paying over $200 a year to have full coverage, then you might consider buying liability only.

There are some scenarios where dropping physical damage coverage is not financially feasible. If you haven’t satisfied your loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage.

Detailed coverages of your insurance policy

Understanding the coverages of insurance can help you determine which coverages you need and proper limits and deductibles. Insurance terms can be difficult to understand and coverage can change by endorsement. Shown next are the normal coverages found on most insurance policies.

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage provides protection when the “other guys” are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants and also any damage incurred to your Chevy Aveo.

Since a lot of drivers carry very low liability coverage limits (25/50/15 in Tennessee), it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family.

Comprehensive insurance

Comprehensive insurance coverage covers damage from a wide range of events other than collision. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims such as a tree branch falling on your vehicle, damage from a tornado or hurricane, rock chips in glass, hail damage and theft. The most you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage reimburse you for immediate expenses for hospital visits, pain medications, surgery and rehabilitation expenses. They can be used to cover expenses not covered by your health insurance program or if you lack health insurance entirely. They cover both the driver and occupants and will also cover being hit by a car walking across the street. PIP coverage is not available in all states and gives slightly broader coverage than med pay

Auto liability insurance

Liability coverage provides protection from injuries or damage you cause to other people or property by causing an accident. It protects YOU from claims by other people. It does not cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 25/50/15 which means $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and a limit of $15,000 paid for damaged property.

Liability coverage pays for claims such as attorney fees, medical services, funeral expenses and emergency aid. How much liability coverage do you need? That is a personal decision, but buy as high a limit as you can afford. Tennessee state minimum liability requirements are 25/50/15 but you should think about purchasing higher limits.

The chart below demonstrates why buying the state minimum limits may not provide you with enough coverage.

Coverage for collisions

Collision coverage covers damage to your Aveo resulting from colliding with an object or car. You first must pay a deductible then your collision coverage will kick in.

Collision can pay for things such as damaging your car on a curb, colliding with a tree and rolling your car. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. It’s also possible to raise the deductible on your Aveo to get cheaper collision coverage.

You can lower your car insurance rates

When searching for affordable Chevrolet Aveo insurance quotes, make sure you don’t buy poor coverage just to save money. There are a lot of situations where an insured dropped liability limits or collision coverage and learned later that they should have had better coverage. Your goal should be to get the best coverage possible at the lowest possible cost.

You just read many ideas to lower your Chevy Aveo insurance rates in Nashville. The key concept to understand is the more times you quote, the better likelihood of getting affordable Nashville car insurance quotes. You may even discover the biggest savings come from an unexpected company. Smaller companies can often provide lower auto insurance rates in certain areas compared to the large companies like State Farm, GEICO and Nationwide.

More tips and info about car insurance can be read in the articles below:

• Protect Yourself Against Auto Theft (Insurance Information Institute)
• Who Has Cheap Nashville Auto Insurance with Multiple Speeding Tickets? (FAQ)
• Who Has Affordable Nashville Car Insurance Rates for Drivers Under 21? (FAQ)
• Who Has Cheap Car Insurance Rates for a Jeep Grand Cherokee in Nashville? (FAQ)
• Who Has Cheap Nashville Car Insurance Rates for a Kia Forte? (FAQ)
• What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
• Five Mistakes to Avoid (Insurance Information Institute)
• Liability Insurance Coverage (Nationwide)
• Safety Belts FAQ (iihs.org)