How long have you put off shopping around for the cheapest insurance rates in Portland, OR? Portland buyers have a choice when searching for the best price on Chevy Malibu insurance. You can either spend your time struggling with agents to compare prices or use the internet to compare rates.
There is a better way to find insurance online so we’re going to tell you the best way to price shop coverage on a Chevy and find the lowest possible price from Portland insurance agents and online providers.
The Chevy Malibu Insurance Rate Equation
One of the most helpful ways to save on car insurance is to to have a grasp of some of the things that play a part in calculating your premiums. When consumers understand what determines premiums, this enables you to make decisions that could help you find better car insurance rates. Lots of things are used in the calculation when you get a price on insurance. Some factors are common sense like a motor vehicle report, but other factors are less apparent such as whether you are married or your financial responsibility.
- High credit scores save money – Having a bad credit history is a big factor in calculating your car insurance rates. Insureds that have excellent credit scores tend to be better drivers and file fewer claims than drivers who have poor credit. Therefore, if your credit is low, you could be paying less to insure your Chevrolet Malibu if you clean up your credit.
- Cut prices and deter theft – Selecting a car model that has a built-in theft deterrent system can help bring down rates. Theft prevention features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder auto theft.
- Do you have a stressful job? – Did you know that where you work can have an impact on rates? Careers such as lawyers, business owners, and financial analysts generally have the highest rates in part from intense work requirements and incredibly demanding work hours. On the other hand, occupations such as actors, athletes and retirees pay the least.
- Premiums impacted by your city – Choosing to live in less populated areas of the country can save you money when buying car insurance. Fewer drivers on the road means reduced accidents and a lower car theft rate. Residents of big cities have more aggressive driving styles and higher rates of accident claims. More time on the road statistically corresponds to a higher accident and claim rate.
- Safer occupants lowers rates – Safe vehicles cost less to insure. The safest vehicles reduce the chance of injuries and fewer injuries means lower claim amounts which can result in lower premiums.
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Chevy Malibu claim data – Insurers take into consideration historical loss data for every vehicle to calculate a price that will offset any claims. Vehicles that are shown to have higher claim amounts or frequency will have higher premium rates. The table below illustrates the historical loss data for Chevy Malibu vehicles.
For each coverage type, the statistical loss for all vehicles, as an average, is equal to 100. Numbers that are below 100 suggest a better than average loss history, while numbers that are greater than 100 indicate frequent claims or tendency to have larger claims.
Car Insurance Loss Data for Chevrolet Malibu Models Specific Chevrolet Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Chevrolet Malibu 94 100 109 139 145 120 BETTERAVERAGEWORSEData Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
How to compare free Portland Chevy Malibu insurance price quotes
Getting a more affordable price on insurance is a great way to save money. Consumers just need to invest a little time getting comparison quotes from different insurance companies.
The companies shown below offer quotes in Oregon. If multiple companies are listed, it’s a good idea that you visit several of them in order to get a fair rate comparison.
Chevy Malibu insurance statistics and information
The rate table shown below covers detailed analysis of insurance policy prices for Chevy Malibu models. Having insight into how auto insurance premiums are determined can help customers make smart buying decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Malibu LS | $148 | $256 | $326 | $20 | $98 | $848 | $71 |
| Malibu Hybrid | $148 | $256 | $326 | $20 | $98 | $848 | $71 |
| Malibu LT | $166 | $256 | $326 | $20 | $98 | $866 | $72 |
| Malibu LTZ | $166 | $302 | $326 | $20 | $98 | $912 | $76 |
| Get Your Own Custom Quote Go | |||||||
Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Oregon minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Price information does not factor in the specific area where the vehicle is garaged which can increase or decrease insurance rates noticeably.
Should you raise deductibles?
The hardest decision when buying coverage is where to set your physical damage deductibles. The comparisons below may aid in understanding the price difference when you buy lower versus higher deductibles. The first set of rates uses a $100 comprehensive and collision deductible and the second price table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Malibu LS | $274 | $496 | $320 | $18 | $96 | $1,229 | $102 |
| Malibu Hybrid | $274 | $496 | $320 | $18 | $96 | $1,229 | $102 |
| Malibu LT | $310 | $496 | $320 | $18 | $96 | $1,265 | $105 |
| Malibu LTZ | $310 | $586 | $320 | $18 | $96 | $1,355 | $113 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Malibu LS | $152 | $262 | $320 | $18 | $96 | $848 | $71 |
| Malibu Hybrid | $152 | $262 | $320 | $18 | $96 | $848 | $71 |
| Malibu LT | $172 | $262 | $320 | $18 | $96 | $868 | $72 |
| Malibu LTZ | $172 | $308 | $320 | $18 | $96 | $914 | $76 |
| Get Your Own Custom Quote Go | |||||||
Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Oregon minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Table data does not factor in your specific Portland location which can lower or raise premium rates substantially.
Based on the figures above, using a $100 deductible will cost you approximately $33 more each month or $396 each year than buying the higher $1,000 deductible. Because you would be required to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you go at least 27 months between claims, you would probably save some money if you elect the higher deductible.
Calculation for raising deductibles
| Average monthly premium for $100 deductibles: | $106 |
| Average monthly premium for $1,000 deductibles (subtract): | – $73 |
| Monthly savings from raising deductible: | $33 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $33 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 27 months |
An important thing to remember is that raising deductibles to save money results in more money out-of-pocket when you have a physical damage claim. You need to make sure you have some money saved in order to pay the deductible.
The diagram below demonstrates how deductibles and can raise or lower Chevy Malibu insurance costs 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.
How accidents and tickets impact rates
The example below demonstrates how traffic citations and at-fault fender-benders can raise Chevy Malibu insurance rates for each age group. The costs are based on a married male driver, comp and collision included, $500 deductibles, and no discounts are applied to the premium.
Auto insurance premiums based on gender
The illustration below visualizes the comparison of Chevy Malibu annual premium costs for male and female drivers. The information is based on no claims or driving citations, comprehensive and collision coverage, $100 deductibles, marital status is single, and no discounts are applied.
Full coverage rates compared to liability-only
The chart below illustrates the difference between Chevy Malibu car insurance rates with full physical damage coverage compared to only buying liability only. The premiums are based on no accidents or driving violations, $250 deductibles, drivers are single, and no discounts are taken into consideration.
Guidelines for eliminating full coverage
There is no exact formula to stop paying for physical damage coverage, but there is a general school of thought. If the yearly cost of full coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.
For example, let’s say your Chevy Malibu replacement value is $3,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would get paid by your company is $2,000 after you pay the deductible. If it’s costing in excess of $200 annually for physical damage coverage, the it may be a good time to stop paying for full coverage.
There are some conditions where buying only liability insurance is not in your best interest. If you still have a loan on your vehicle, you have to maintain full coverage to satisfy the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should maintain full coverage.
Why car insurance is not optional
Even though Portland Malibu insurance rates can get expensive, maintaining insurance may be required and benefits you in several ways.
- Most states have compulsory liability insurance requirements which means the state requires specific limits of liability protection in order to license the vehicle. In Oregon these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
- If you bought your vehicle with a loan, almost every bank will stipulate that you have comprehensive coverage to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the bank will be required to insure your Chevy at an extremely high rate and require you to fork over for the much more expensive policy.
- Car insurance protects both your assets and your Chevy. It also can pay for medical expenses incurred in an accident. One policy coverage, liability insurance, will also pay for a defense attorney if you are sued as the result of your driving. If your Chevy gets damaged, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of having car insurance are without a doubt worth the cost, particularly when you have a large claim. In a recent study of 1,000 drivers, the average customer is currently overpaying as much as $865 each year so you should quote and compare rates at least once a year to save money.
Auto insurance discounts are available to get cheap rates
Auto insurance companies don’t list all possible discounts in a way that’s easy to find, so the list below details both the well known and the more hidden credits available to you.
- Seat Belt Usage – Requiring all passengers to use a seat belt could save 15% off the PIP or medical payment premium.
- Save over 55 – Drivers over the age of 55 may receive a small discount on rates.
- New Car Discount – Adding a new car to your policy can save you some money because newer models keep occupants safer.
- Early Renewal Discounts – A few larger companies allow discounts for switching to them early. It could save around 10% when you buy Portland car insurance online.
- Sign Online – Some of the larger companies will discount your bill up to fifty bucks simply for signing over the internet.
- No Claim Discounts – Claim-free drivers are rewarded with significantly better rates on Portland car insurance quote in comparison with bad drivers.
- Auto/Life Discount – Not every insurance company offers life insurance, but if they do you may earn a discounted premium rate on car insurance if you buy some life insurance in addition to your auto policy.
- Fewer Miles Equal More Savings – Fewer annual miles on your Chevy could earn lower rates due to less chance of an accident.
Don’t be surprised that most discounts do not apply to the entire policy premium. Most cut the price of certain insurance coverages like collision or personal injury protection. Despite the fact that it seems like having all the discounts means you get insurance for free, you won’t be that lucky. Any amount of discount will help lower your policy premium.
The illustration below illustrates the difference between Chevy Malibu yearly insurance costs with and without discounts applied. The data is based on a female driver, no claims, a clean driving record, Oregon state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, multi-policy, safe-driver, homeowner, claim-free, and marriage discounts applied.
The best auto insurance companies and some of the premium reductions they offer can be read below.
- State Farm has savings for Drive Safe & Save, accident-free, multiple policy, defensive driving training, anti-theft, student away at school, and passive restraint.
- Farmers Insurance offers discounts including alternative fuel, youthful driver, teen driver, mature driver, and switch companies.
- GEICO may include discounts for good student, federal employee, five-year accident-free, air bags, membership and employees, and driver training.
- American Family includes discounts for multi-vehicle, mySafetyValet, air bags, good student, accident-free, and early bird.
- Nationwide may have discounts that include good student, defensive driving, family plan, accident-free, Farm Bureau membership, and multi-policy.
- Progressive offers discounts for good student, online quote discount, multi-vehicle, homeowner, and multi-policy.
If you need low cost Portland car insurance quotes, ask every prospective company which discounts you may be entitled to. Some credits might not be offered in your state.
Local neighborhood agents and insurance
Some consumers just prefer to have an agent’s advice and often times that is recommended Insurance agents can help you build your policy and will help you if you have claims. A nice benefit of getting online price quotes is you can get the best rates but still work with a licensed agent. Buying insurance from neighborhood agents is especially important in Portland.
Upon completion of this form (opens in new window), the quote information is immediately sent to local insurance agents in Portland that provide free Portland car insurance quotes and help you find cheaper coverage. You won’t even need to contact any agents since rate quotes are delivered to you. In the event you want to compare prices from a particular provider, you can always go to their quote page to submit a rate quote request.
Pick the best car insurance agent in Portland for you
If you’re trying to find a reliable insurance agency, you should know the different types of agents that you can select. Insurance policy providers are considered either independent or exclusive depending on the company they work for. Both can provide insurance policies, but it is important to understand the subtle differences because it can factor into which agent you choose.
Independent Agencies or Brokers
Agents of this type can quote rates with many companies and that enables them to quote your coverage with multiple insurance companies depending on which coverage is best. If they find a cheaper price, an independent agent can move your coverage and you don’t have to switch agencies. If you are comparing insurance prices, you will want to get insurance quotes from multiple independent agents to get the best comparison. Most can insure with companies that do not advertise much which can save you money.
Shown below is a list of independent insurance agencies in Portland that can give you cheap rate quotes.
- Vern Fonk
9955 SE Washington St #103 – Portland, OR 97216 – (971) 213-1015 – View Map - Metro One Insurance Agency
3423 S Telegraph Rd, Dearborn, MI 48124 – Dearborn, OR 48124 – (313) 456-9455 – View Map - Hecht and Hecht Insurance Agency Inc.
425 NE Hancock St – Portland, OR 97212 – (503) 542-1130 – View Map
Exclusive Insurance Agents
These type of agents write business for a single company and examples are Allstate, State Farm and Farmers Insurance. They generally cannot place coverage with different providers so you might not find the best rates. They are usually well trained on the products they sell and that allows them to sell at a higher price point. Drivers often buy from the same agent for years primarily because of the prominent brand name rather than low price.
The following is a list of exclusive agents in Portland that can give you comparison quotes.
- Lisa Parks – State Farm Insurance Agent
11116 NE Halsey St A – Portland, OR 97220 – (503) 256-3077 – View Map - Vu Han – State Farm Insurance Agent
322 NE 82nd Ave – Portland, OR 97220 – (503) 252-1114 – View Map - Chris Shobe – State Farm Insurance Agent
2900 SE Stark St b – Portland, OR 97214 – (971) 242-8981 – View Map
Deciding on an auto insurance agent shouldn’t rely on just a cheap price. Any agent in Portland should be forthright in answering these questions:
- Are there any extra charges for paying monthly?
- Which companies can they place coverage with?
- Is the agent and/or agency licensed to do business in Oregon?
- Do they have a Better Business Bureau rating in Portland?
- If you have an accident, will your rates go up?
- Do you need full coverage on every vehicle?
- Do you qualify for any additional discounts?
Compare. Compare. Compare.
Insureds change insurance companies for a number of reasons such as not issuing a premium refund, questionable increases in premium, delays in paying claims and even policy non-renewal. Regardless of your reason for switching companies, choosing a new company is pretty simple and you could end up saving a buck or two.
Budget-conscious Chevy Malibu insurance is definitely available on the web and also from your neighborhood Portland agents, and you should be comparing both in order to have the best price selection to choose from. A few companies don’t offer the ability to get a quote online and usually these small, regional companies sell through local independent agents.
You just learned many ways to find cheap Chevy Malibu insurance in Portland. The most important thing to understand is the more rate quotes you have, the better likelihood of getting inexpensive Portland car insurance quotes. You may even find the best premium rates are with a small mutual company.
Steps to finding affordable Chevy Malibu insurance in Portland
The preferred way to save money on Chevy Malibu insurance is to regularly compare quotes from different companies who sell auto insurance in Portland. Rate comparisons can be done by following these guidelines.
- Read and learn about the different coverages in a policy and the steps you can take to keep rates in check. Many rating criteria that drive up the price such as your driving record and a negative credit score can be amended by making lifestyle changes or driving safer.
- Request rate estimates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only quote rates from one company like Progressive or Farmers Insurance, while agents who are independent can provide price quotes for a wide range of insurance providers.
- Compare the quotes to your current policy premium to determine if switching companies saves money. If you find better rates and buy the policy, ensure there is no coverage lapse between policies.
A key point to remember is that you’ll want to compare the same level of coverage on every quote and and to get prices from every company you can. This provides a fair rate comparison and plenty of rates choose from.
More resources
- Information for Teen Drivers (GEICO)
- How Much is Auto Insurance for 17 Year Olds in Portland? (FAQ)
- How Much are Portland Car Insurance Quotes for Drivers with a Bad Driving Record? (FAQ)
- How to Avoid Staged Accidents (State Farm)
- Bodily Injury Coverage (Liberty Mutual)