Smart shoppers know that car insurance companies don’t want you comparing rates. Insureds who shop rates annually are likely to switch car insurance companies because there is a good probability of finding a lower rate. A study showed that people who regularly compared rates saved over $865 a year compared to those who don’t make a habit of comparing rates.
If finding the best rates on insurance is why you’re reading this, then learning a little about how to quote prices and compare coverages can help you succeed in finding affordable rates.
If saving the most money is your goal, then the best way to find lower priced Chevy Aveo insurance is to start comparing prices regularly from different companies in Virginia Beach. You can compare rates by following these steps.
First, learn about how your policy works and the things you can change to lower rates. Many things that result in higher prices such as inattentive driving and a not-so-good credit rating can be amended by making lifestyle changes or driving safer.
Second, obtain price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give rate quotes from a single company like Progressive or Farmers Insurance, while independent agencies can provide prices from multiple sources.
Third, compare the new rate quotes to the price on your current policy to see if a cheaper rate is available. If you find a lower rate, make sure there is no lapse between the expiration of your current policy and the new one.
Fourth, tell your current company of your intention to cancel your current policy. Submit payment and a signed application to the new insurer. As soon as coverage is bound, keep your new certificate of insurance in an accessible location in your vehicle.
The most important part of shopping around is to try to compare similar limits and deductibles on each quote request and and to look at as many different insurance providers as possible. Doing this guarantees an accurate price comparison and many rates to choose from.
How to get Virginia Beach Chevy Aveo insurance rate quotes
Finding a lower price on insurance is actually quite simple. The only thing you need to do is invest a few minutes comparing price quotes provided by online insurance companies.
Comparing free price quotes online is easy and it, replaces the need to spend time driving to local insurance agencies. The ability to quote Chevy Aveo insurance online has reduced the need for local agents unless you prefer the professional assistance only provided by licensed agents. It is possible to find lower rates online but have a local agent actually write the policy.
The providers in the list below provide price quotes in Virginia Beach, VA. If you want to find cheaper auto insurance in Virginia, we recommend you visit two to three different companies to get the best price comparison.
Rates and information analytics
The rate information shown below outlines different rate quotes for Chevy Aveo models. Having a good understanding how policy premiums are formulated can be of help when making decisions when shopping around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Aveo LS 4-Dr Hatchback | $140 | $328 | $290 | $18 | $88 | $864 | $72 |
| Aveo LS 4-Dr Sedan | $140 | $328 | $290 | $18 | $88 | $864 | $72 |
| Aveo LT 4-Dr Hatchback | $156 | $328 | $290 | $18 | $88 | $880 | $73 |
| Aveo LT 4-Dr Sedan | $156 | $328 | $290 | $18 | $88 | $880 | $73 |
| Get Your Own Custom Quote Go | |||||||
Data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Virginia minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Rate information does not factor in garaging location in Virginia Beach which can raise or lower auto insurance rates noticeably.
Choosing deductibles
When buying insurance, a common question is where to set your physical damage deductibles. The tables below can help illustrate the cost difference when you select higher and lower coverage deductibles. The first rate quote example uses a $250 deductible and the second data table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Aveo LS 4-Dr Hatchback | $198 | $394 | $258 | $16 | $78 | $969 | $81 |
| Aveo LS 4-Dr Sedan | $198 | $394 | $258 | $16 | $78 | $969 | $81 |
| Aveo LT 4-Dr Hatchback | $224 | $394 | $258 | $16 | $78 | $995 | $83 |
| Aveo LT 4-Dr Sedan | $224 | $394 | $258 | $16 | $78 | $995 | $83 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Aveo LS 4-Dr Hatchback | $162 | $318 | $258 | $16 | $78 | $832 | $69 |
| Aveo LS 4-Dr Sedan | $162 | $318 | $258 | $16 | $78 | $832 | $69 |
| Aveo LT 4-Dr Hatchback | $182 | $318 | $258 | $16 | $78 | $852 | $71 |
| Aveo LT 4-Dr Sedan | $182 | $318 | $258 | $16 | $78 | $852 | $71 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Virginia minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Premium costs do not factor in specific Virginia Beach garaging location which can change auto insurance rates considerably.
Based on these figures, using a $250 deductible will cost in the ballpark of $12 more each month or $144 annually than selecting the higher $500 deductible. Because 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 average more than 21 months between claim filings, you would probably save some money by selecting a higher deductible.
Calculate savings of higher deductibles
| Average monthly premium for $250 deductibles: | $82 |
| Average monthly premium for $500 deductibles (subtract): | – $70 |
| Monthly savings from raising deductible: | $12 |
| Difference between deductibles ($500 – $250): | $250 |
| Divide difference by monthly savings: | $250 / $12 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 21 months |
Age, gender, and Chevrolet Aveo insurance
The diagram below shows the comparison of Chevy Aveo premium costs for male and female drivers. Data assumes no claims, a clean driving record, full coverage, $1,000 deductibles, single marital status, and no additional discounts are factored in.
Chevrolet Aveo full coverage rates compared to liability only
The diagram below shows the comparison of Chevy Aveo insurance prices with and without full coverage. The premiums are based on no accidents, no driving violations, $500 deductibles, single marital status, and no policy discounts are applied.
Deciding between full coverage and liability only
There is no clear-cut rule of when to exclude physical damage coverage on your policy, but there is a broad guideline. If the yearly cost for physical damage coverage is more than about 10% of the settlement you would receive from your company, then it might be time to buy liability only.
For example, let’s assume your Chevy Aveo replacement value is $9,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company will settle for is $8,000 after paying your policy deductible. If you are paying in excess of $800 annually for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are some circumstances where dropping physical damage coverage is not a good plan. If you have an outstanding loan on your vehicle, you have to carry full coverage to protect the lienholder’s interest in the vehicle. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should not remove full coverage.
Car insurance is an important decision
Even though Virginia Beach Aveo insurance rates can get expensive, maintaining insurance serves an important purpose.
First, the majority of states have minimum mandated liability insurance limits which means you are required to carry specific minimum amounts of liability in order to be legal. In Virginia 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.
Second, if your car has a loan, almost all lenders will make it a condition of the loan that you have full coverage to guarantee payment of the loan. If you do not keep the policy in force, the lender may have to buy a policy to insure your Chevy for a lot more money and force you to pay for the expensive policy.
Third, car insurance protects both your vehicle and your personal assets. Insurance will pay for medical expenses for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, also pays for attorney fees and expenses in the event you are sued. If mother nature or an accident damages your car, collision and comprehensive coverages will pay to repair the damage.
The benefits of carrying enough insurance definitely exceed the cost, particularly for liability claims. Unknowingly, the average driver overpays as much as $855 a year so it’s very important to do a rate comparison at every renewal to make sure the price is not too high.
Specifics of your car insurance policy
Understanding the coverages of your car insurance policy aids in choosing which coverages you need for your vehicles. The terms used in a policy can be ambiguous and nobody wants to actually read their policy. These are typical coverages found on most car insurance policies.
Comprehensive auto coverage
Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims like theft, damage from a tornado or hurricane, hail damage and a tree branch falling on your vehicle. The highest amount your car insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
Medical payments and PIP coverage
Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses for things like pain medications, surgery, ambulance fees, funeral costs and dental work. They are often utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover all vehicle occupants as well as getting struck while a pedestrian. Personal injury protection coverage is not universally available and gives slightly broader coverage than med pay
UM/UIM (Uninsured/Underinsured Motorist) coverage
Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists either are underinsured or have no liability coverage at all. Covered losses include hospital bills for your injuries and also any damage incurred to your Chevy Aveo.
Since a lot of drivers have only the minimum liability required by law (which is 25/50/20), it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.
Coverage for collisions
Collision insurance pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for things like colliding with another moving vehicle, colliding with a tree, backing into a parked car and hitting a parking meter. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from lower value vehicles. It’s also possible to bump up the deductible on your Aveo in order to get cheaper collision rates.
Liability
Liability insurance can cover damages or injuries you inflict on other people or property by causing an accident. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see policy limits of 25/50/20 that translate to $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and property damage coverage for $20,000.
Liability coverage protects against things such as funeral expenses, legal defense fees and bail bonds. The amount of liability coverage you purchase is your choice, but buy as high a limit as you can afford. Virginia requires minimum liability limits of 25/50/20 but you should think about purchasing higher limits.
The chart below shows why the minimum limit may not provide you with enough coverage.
Virginia auto insurance company ratings
Buying coverage from a highly-rated auto insurance provider can be rather challenging considering how many choices drivers have in Virginia. The company ratings below could help you decide which providers to look at comparing prices from.
Top 10 Virginia Beach Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
Top 10 Virginia Beach Car Insurance Companies Ranked by Value
- Mercury Insurance
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- Erie Insurance
- Esurance
- The General