Buying affordable auto insurance for a Chevrolet Equinox in Virginia is dependent upon a lot of rating factors such as whether you are married, whether or not you have filed claims in the past, and whether or not you are a good driver. Drivers will pay around $552 annually to insure their Equinox, but that amount is an estimate using a 50-year-old married male driver with full coverage and $1,000 deductibles.
When estimating a car insurance rate like we just did, the issue is that you are not 50 and maybe not even a male, single instead of married, and maybe your Equinox is older and does not require full coverage. Even a slight difference in policy rating criteria or coverages may result in a big change in rates.
Insurance is an individual thing, so the way we recommend to find the cheapest coverage for your Chevrolet is to do the rate comparisons yourself. Rate quotes are easy and you will get price quotes from the best companies available.
Vehicle trim level tends to have a direct impact on the cost of insurance, so the price you pay to insure a Equinox LS 2WD model will be $44 cheaper than the price to insure the more costly Equinox LTZ AWD trim level, as shown in the prices below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Equinox LS 2WD | $96 | $180 | $248 | $14 | $74 | $612 | $51 |
| Equinox LT 2WD | $96 | $180 | $248 | $14 | $74 | $612 | $51 |
| Equinox LS AWD | $96 | $180 | $248 | $14 | $74 | $612 | $51 |
| Equinox LT AWD | $96 | $180 | $248 | $14 | $74 | $612 | $51 |
| Equinox LTZ 2WD | $108 | $212 | $248 | $14 | $74 | $656 | $55 |
| Equinox LTZ AWD | $108 | $212 | $248 | $14 | $74 | $656 | $55 |
| Equinox LTZ AWD | $108 | $212 | $248 | $14 | $74 | $656 | $55 |
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Data based on married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Virginia minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Rate quotes do not factor in Virginia Beach location which can modify premiums noticeably.
Figuring out which insurers offer the cheapest insurance rates for a Chevrolet Equinox will involve more work in order to find the best policy. Each auto insurer has their own process for determining prices, so let’s examine the overall cheapest insurance companies in Virginia Beach, VA.
Best Cheap Insurance Rates for Your Equinox
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $679 |
| 2 | USAA | $716 |
| 3 | Penn National | $748 |
| 4 | Cincinnati Insurance | $755 |
| 5 | Utica National | $758 |
| 6 | The Hartford | $785 |
| 7 | Auto-Owners | $788 |
| 8 | Virginia Farm Bureau | $802 |
| 9 | Erie | $804 |
| 10 | Donegal Mutual | $852 |
| 11 | Nationwide | $935 |
| 12 | ALFA | $988 |
| 13 | Allied | $1,022 |
| 14 | GEICO | $1,036 |
| 15 | National Grange Mutual | $1,071 |
| 16 | State Farm | $1,110 |
| 17 | Chubb | $1,145 |
| 18 | Electric | $1,216 |
| 19 | Progressive | $1,246 |
| 20 | Amica | $1,279 |
| Get a Custom Quote Go | ||
Travelers offers some of the lowest car insurance rates in Virginia Beach at around $679 each year. USAA, Penn National, Cincinnati Insurance, and Utica National would also make the list of some of the best Virginia Beach, VA auto insurance companies.
As shown in the table above, if you currently have coverage with Penn National and switched to Travelers, you could realize annual savings of in the neighborhood of $69. Virginia drivers with Cincinnati Insurance may save as much as $76 a year, and Utica National customers might lower prices by up to $79 a year.
To find out how much you can save, click here to begin a quote or click several companies below for low rates.
Be aware that those premium estimates are averaged for all drivers and vehicles in Virginia and and are not calculated with a specific vehicle garaging location for a Chevrolet Equinox. So the auto insurance company that can offer the best rates for your situation may not even be in the top 30 companies shown above. That points out the importance of why you need to quote rates from many companies using your own driver and vehicle profiles.
Difference between full coverage and liability only rates
Lowering the price of insurance is probably important to the majority of drivers, and one way to lower the cost of insurance for a Chevrolet Equinox is to only pay for liability coverage. The information below shows the difference between insurance premiums with full physical damage coverage and with liability coverage only. The prices are based on no accidents, no driving violations, $100 deductibles, marital status is single, and no discounts are applied.
If averaged out across all ages, comp and collision coverage costs an extra $1,756 per year more than just insuring for liability. Many of you may wonder if it’s a good idea to buy full coverage. There is no definitive guideline that is best for determining when to drop physical damage coverage, but there is a general school of thought. If the annual cost of having full coverage is more than around 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.
For example, let’s say your vehicle’s replacement value is $8,500 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $7,500 after paying your deductible. If premium cost is more than $750 a year for full coverage, then it could be time to drop full coverage.
Get discount Virginia Beach insurance
Car insurance companies that offer quotes for a Chevrolet Equinox may also give you discounts that can reduce rates by 30% or more if you meet the requirements. Large insurance companies and some of the discounts are outlined below.
- The Hartford has savings for bundle, driver training, anti-theft, air bag, good student, and vehicle fuel type.
- American Family may include discounts for bundled insurance, mySafetyValet, multi-vehicle, good student, and air bags.
- Progressive offers premium reductions for good student, online signing, multi-vehicle, multi-policy, online quote discount, continuous coverage, and homeowner.
- Travelers offers discounts including hybrid/electric vehicle, continuous insurance, new car, multi-policy, early quote, student away at school, and IntelliDrive.
- Farmers Insurance may offer discounts for bundle discounts, homeowner, good student, distant student, early shopping, multi-car, and alternative fuel.
- USAA may have discounts that include annual mileage, loyalty savings, multi-policy, safe driver, vehicle storage, family discount, and good student.
- Liberty Mutual has discounts for multi-policy, multi-car, newly married, teen driver discount, and safety features.
The diagram below compares car insurance rates with and without discounts applied to the policy premium. The data assumes a female driver, no accidents or driving violations, Virginia state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with anti-theft, safe-driver, claim-free, multiple policy, multiple vehicle, and accident-free discounts applied. With discounts applied, theaverage yearly reduction on insurance for a Chevrolet Equinox is 28% or $380.
Are you paying too much for car insurance?
Virginia insurance rates are influenced by many factors that control the price you pay. Getting older, buying another vehicle, or getting a driving violation can trigger price changes that can cause some rates to be affordable when they were higher priced.
And not only may your rating factors change, but car insurance companies file new Virginia car insurance rates as needed to adjust for heavy claims or excess profits. Larger than normal claims may cause a rate increase, while lower claim expenses can cause more affordable Equinox insurance rates.
To illustrate this example, the bar chart below shows which company has the cheapest car insurance in Virginia Beach, VA for a 40-year-old female driver with no accidents, a clean driving record, and good financial standing. If we look at prices based on her personal profile, Travelers might quote the best car insurance rates in Virginia Beach at $783 a year. This is $375 less than the average premium paid by Virginia drivers of $1,158. USAA, Penn National, Auto-Owners, and Cincinnati Insurance are the rest of the most affordable Virginia Beach, VA auto insurance companies.
Now we will give the driver from the first rate comparison some claims, less-than-perfect credit, and a speeding ticket. Since each auto insurance company has a proprietary method to set policy rates, analyzing rates could now result in a different ranking of affordable companies as shown below.
The Hartford now has the lowest price in Virginia Beach, VA with Erie, Virginia Farm Bureau, Donegal Mutual, and Nationwide also being competitive. This example shows why it is critical to perform a complete rate comparison to find cheap auto insurance quotes for a Chevrolet Equinox. Rates consist of many factors and change frequently, so the best option the last time you compared rates may now be quite expensive.
If you like to have a professional recommendation when comparing insurance rates for a Chevrolet Equinox, the agents below can aid you in deciding which insurance coverage will be best for you.
To find a Virginia Beach insurance agent near you, click the button after the list or click here to compare price quotes now.
- Choice Insurance Agency
4664 South Blvd – Virginia Beach, VA 23452 – (757) 416-5100 - WBR Insurance
3213 Virginia Beach Blvd – Virginia Beach, VA 23452 – (757) 340-0028 - Nationwide Insurance: Bob McCrearyh CLU Insurance Agency, Inc.
533 Newtown Rd #112 – Virginia Beach, VA 23462 – (757) 497-1899
More insurance agents in Virginia Beach, VA
How to find low-cost car insurance for a Chevrolet Equinox
It is possible to find better rates, and here are some penny-pinching ideas that can help Virginia Beach drivers get lower-cost coverage.
- Keep your driving record clean
- Increase your physical damage deductibles
- Older vehicles may not need full coverage
- Vehicles with safetly features generally cost less to insure
- Remain accident-free and save
- Drivers with good credit ratings often pay less
- Compare prices frequently to find the best deal
The last item on the list is highly necessary, as was affirmed in the prior information. Car insurance rates fluctuate constantly, so don’t hesitate to buy a policy from a new company if a lower price can be found.
Many drivers tend to have loyalty to a certain company, but it isn’t a good idea if it’s costing you a considerable chunk of change every month. If you have a few minutes, now is a great time to compare prices to find cheaper auto insurance for a Chevrolet Equinox in Virginia Beach.