How Much Does 2005 Chevrolet Cobalt Insurance Cost?

Want better insurance rates for your Chevrolet Cobalt? Pricey Chevrolet Cobalt insurance can diminish your savings account and require stricter spending habits. Price shopping at each renewal is a fast and free way to make ends meet.

Numerous insurers battle to insure your vehicles, so it’s not easy to compare every insurance company to get the cheapest price

Consumers need to quote other rates as often as possible because insurance prices are constantly changing. Even if you got the lowest price for Cobalt insurance at your last renewal other companies may now be cheaper. Forget all the misinformation about insurance because you’re going to learn how to use the internet to remove unneeded coverages and save money.

If you are paying for car insurance now, you should be able to save some money using these techniques. Finding affordable coverage is quite easy. But drivers must learn the way companies sell insurance online.

How your Cobalt insurance rates are determined

Consumers need to have an understanding of the factors that help calculate your insurance rates. If you have a feel for what impacts premium levels, this allows you to make educated decisions that can earn you much lower annual insurance costs.

• Never allow your insurance to lapse – Having a gap between insurance policy dates will be a guaranteed way to increase your insurance rates. In addition to paying higher rates, not being able to provide proof of insurance could earn you fines or a revoked license. You may then be required to submit proof of financial responsibility or a SR-22 with your state motor vehicle department to get your license reinstated.
• Women pay lower rates – Over time, data shows that men are more aggressive behind the wheel. Now that doesn’t mean females are better at driving than males. Females and males cause auto accidents at a similar rate, but the males cause more damage. Men also have more aggressive citations like DWI (DUI) or reckless driving.
• Get cheaper premiums after the wedding – Having a spouse helps lower the price compared to being single. Marriage usually means you are more responsible and it’s proven that drivers who are married file infrequent claims.
• Low credit rating equals high premiums – Having a bad credit score is a large factor in your rate calculation. If your credit leaves room for improvement, you could save money insuring your 2005 Chevrolet Cobalt by spending a little time repairing your credit. Drivers who have excellent credit tend to be less risk to insure than drivers with worse credit.
• Does your occupation raise your prices? – Jobs like real estate brokerspolice officers and financial analysts generally have higher premiums than the average policyholder attributed to intense work situations and long work hours. Other occupations like farmers, engineers and homemakers get better rates for Cobalt insurance.
• Liability coverage limits on your policy – The liability section of your policy will afford coverage in the event that you are found to be at fault for causing damage or personal injury in an accident. This coverage provides legal defense coverage which can cost thousands of dollars. This coverage is very inexpensive as compared to coverage for physical damage, so drivers should buy more than the minimum limits required by law.

How to buy insurance online

To find the best insurance prices, there are several ways of comparing rates from different companies. The best method to compare rates consists of shopping online. It’s really quite simple and can be done in a couple of different ways.

1. Without a doubt, the easiest way to compare a lot of rates at once would be an industry-wide quote request form click to view form in new window. This quick form keeps you from doing multiple quote forms for every company. One form gets you price quotes from all major companies.
2. A slightly less efficient method to get comparison quotes consists of going to each company’s website to complete a price quote. For examples sake, let’s say you want comparison quotes from Geico, Progressive and Travelers. In order to compare rates, you need to spend time going to each site individually and punch in your information repeatedly, which can take a lot of time.

   For a handy list of car insurance company links in your area, click here.

You can use whichever method you prefer to find lower rates, just make sure you use equivalent coverage data on every quote. If you enter higher or lower deductibles it will be impossible to make a fair comparison for your Chevy Cobalt. Just a small difference in insurance coverages or limits may result in a large different in cost. And when price shopping your coverage, comparing more rates from different companies will improve the odds of getting a better price. Not every company allows you to get online quotes, so you also need to get price quotes from them, too.

Big brands don’t always mean big savings

Insurance companies such as 21st Century, Allstate and State Farm regularly use television and radio advertisements. All the companies advertise claims of big savings just by switching to them. How does every insurance company charge you a lower premium? Just pay attention to how they say it.

All companies quote their cheapest rates for the type of driver that will most likely be profitable. For instance, a driver they prefer may need to be over the age of 45, has a clean driving record, and has excellent credit. A propective insured who fits those characteristics will probably get the lowest rates and will pay quite a bit less when switching companies.

Consumers who are not a match for the ideal profile will be quoted a higher rate which results in the prospect going elsewhere. The ad wording is “customers who switch” but not “everyone who gets a quote” save money. That is how insurance companies can advertise the way they do. Because of the profiling, you absolutely need to compare quotes as often as possible. It is impossible to guess with any certainty which company will fit you best based on your risk profile.

Take policy discounts and save

Auto insurance companies don’t list every disount available in an easy-to-find place, so the below list has a few of the more well known and also the lesser-known credits available to lower your premiums when you buy insurance coverage online. If you check and find you aren’t receiving every discount possible, you’re paying more than you need to.

• E-sign – Certain insurance companies give back up to $50 simply for signing on the internet.
• Anti-lock Brake Discount – Vehicles with ABS braking systems or traction control can reduce accidents so you can save 10 percent or more.
• Discounts for Federal Employees – Being employed by or retired from a federal job may reduce rates when you quote insurance coverage for Cobalt insurance depending on your auto insurance provider.
• Discount for Home Ownership – Just being a homeowner can get you a discount due to the fact that maintaining a home demonstrates responsibility.
• Military Deployment Discount – Being deployed in the military could be rewarded with lower prices.

As is typical with insurance, most of the big mark downs will not be given to the entire policy premium. Most only reduce individual premiums such as liability and collision coverage. Even though it may seem like you could get a free auto insurance policy, you won’t be that lucky.

If you would like to choose from a list of auto insurance companies that offer the discounts shown above, click here.

Which policy gives me the best coverage?

When it comes to buying the right insurance coverage, there really is no perfect coverage plan. Each situation is unique and a cookie cutter policy won’t apply. Here are some questions about coverages that might help in determining if you may require specific advice.

• Do I need to file an SR-22 for a DUI in my state?
• Do I need PIP coverage since I have good health insurance?
• When does my teenage driver need to be added to my policy?
• Do I need more liability coverage?
• Do I need added coverage for expensive stereo equipment?
• Is my 2005 Chevy Cobalt covered for smoke damage?
• Can I afford to buy a different vehicle if my 2005 Chevy Cobalt is totaled?
• Are my friends covered when driving my car?
• Are rental cars covered under my policy?
• I have health insurance so do I need medical payments coverage?

If it’s difficult to answer those questions but one or more may apply to you, then you may want to think about talking to an agent. If you want to speak to an agent in your area, take a second and complete this form or click here for a list of auto insurance companies in your area.

Insurance coverage basics

Understanding the coverages of your insurance policy aids in choosing the right coverages at the best deductibles and correct limits. Insurance terms can be ambiguous and even agents have difficulty translating policy wording. Listed below are the normal coverages found on most insurance policies.

UM/UIM (Uninsured/Underinsured Motorist) coverage – Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” are uninsured or don’t have enough coverage. Covered claims include medical payments for you and your occupants and damage to your Chevy Cobalt.

Since many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage should not be overlooked.

Comprehensive auto coverage – Comprehensive insurance coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like theft, a tree branch falling on your vehicle, hitting a bird, fire damage and vandalism. The highest amount you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Liability insurance – Liability insurance provides protection from damage that occurs to other people or property. It protects YOU from legal claims by others, and does not provide coverage for your own vehicle damage or injuries.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property.

Liability insurance covers things like court costs, emergency aid and medical expenses. How much coverage you buy is up to you, but consider buying higher limits if possible.

Collision coverages – Collision coverage pays for damage to your Cobalt resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.

Collision can pay for claims such as crashing into a ditch, damaging your car on a curb, rolling your car, crashing into a building and colliding with a tree. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. You can also increase the deductible in order to get cheaper collision rates.

Medical payments and PIP coverage – Medical payments and Personal Injury Protection insurance kick in for expenses such as nursing services, X-ray expenses, ambulance fees and chiropractic care. They are used to fill the gap from your health insurance policy or if there is no health insurance coverage. It covers you and your occupants and will also cover any family member struck as a pedestrian. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage

A penny saved is a penny earned

While you’re price shopping online, never buy lower coverage limits just to save a few bucks. There have been many situations where someone dropped liability limits or collision coverage to discover at claim time that it was a big mistake. The aim is to purchase a proper amount of coverage for the lowest price, not the least amount of coverage.

Lower-priced auto insurance is attainable from both online companies and from local insurance agents, so you should be comparing quotes from both to get a complete price analysis. There are still a few companies who may not offer online quoting and most of the time these smaller companies only sell through independent agencies.

More resources

• Auto Insurance 101 (About.com)
• Distracted Driving Statistics (Insurance Information Insitute)
• Insuring a Leased Car (Insurance Information Insitute)
• Neck Injury FAQ (iihs.org)
• Things to Know Before you Cancel Insurance (Allstate)
• Side Impact Crash Tests (iihs.org)