Cheapest Chevy Camaro Insurance in New Orleans

It’s easy to assume that car insurance companies don’t want their policyholders to compare prices. Insureds who compare other rates are very likely to buy a different policy because there is a good chance of finding coverage at a cheaper rate. A recent study showed that consumers who shopped around every year saved $3,400 over four years as compared to drivers who never shopped around for lower prices.

If finding the best price on insurance in New Orleans is why you’re here, then having an understanding of how to shop and compare insurance rates can help you succeed in saving money.

If you want to find the absolute lowest rates, then the best way to get low-cost auto insurance rates is to compare prices once a year from providers who provide car insurance in New Orleans.

1. Read and learn about how insurance works and the measures you can take to prevent high rates. Many risk factors that cause rate increases such as traffic violations and a less-than-favorable credit score can be improved by making minor changes to your lifestyle. This article gives tips to help reduce prices and earn a bigger discount.
2. Obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give prices from one company like Progressive or Farmers Insurance, while independent agencies can provide price quotes for a wide range of insurance providers.
3. Compare the price quotes to your current policy premium and see if you can save money. If you can save money and switch companies, make sure there is no lapse in coverage.

An important note is to use similar limits and deductibles on each price quote and and to analyze as many carriers as you can. Doing this ensures a fair price comparison and a complete rate analysis.

Rates and detailed analysis

The information displayed next outlines a range of policy rates for Chevy Camaro models. Having a good understanding how rates are determined can help guide drivers when making smart choices when purchasing an auto insurance policy.

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Louisiana minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, homeowner, and multi-vehicle. Table data does not factor in garaging location in New Orleans which can impact insurance rates considerably.

Should you raise deductibles?

A question often asked by New Orleans drivers is which deductibles should you choose. The comparison tables below can help you visualize the price difference between high and low coverage deductibles. The first rate quote example uses a $100 comprehensive and collision deductible and the second rate chart uses a $1,000 deductible.

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Louisiana minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Price estimates do not factor in the specific area where the vehicle is garaged which can affect price quotes considerably.

We can estimate from the data above that using a $100 deductible costs roughly $54 more each month or $648 for a full year than quoting the higher $1,000 deductible. Due to the fact that you would have to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you have at least 17 months between claims, you would probably save some money if you opt for a higher deductible.

The information below illustrates how your choice of deductibles and can change Chevy Camaro insurance costs for different categories of driver ages. The premiums assume a single female driver, comp and collision included, and no other discounts are factored in.

Reckless driving habits raise insurance rates

The example below demonstrates how citations and fender-benders raise Chevy Camaro insurance premiums for each age group. The data assumes a married male driver, comp and collision included, $100 deductibles, and no discounts are taken into consideration.

How much more does full coverage cost?

The chart below shows the comparison of Chevy Camaro insurance costs with full physical damage coverage and with liability coverage only. The premium estimates are based on no driving violations, no at-fault accidents, $250 deductibles, drivers are not married, and no discounts are taken into consideration.

When to stop buying physical damage coverage

There is no exact rule to stop paying for physical damage coverage, but there is a guideline you can use. If the yearly cost of full coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.

For example, let’s pretend your Chevy Camaro claim settlement value is $7,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, you would only receive $6,000 after paying your deductible. If you are currently paying more than $600 a year for full coverage, then it may be the right time to buy liability only.

There are a few situations where removing full coverage is not advised. If you have an outstanding loan on your vehicle, you have to keep full coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not eliminate full coverage.

Five Things That Determine Your Insurance Rates

The best way to find cheaper auto insurance is to take a look at the factors that go into determining the level of your policy premiums. When consumers understand what positively or negatively impacts your premiums, this allows you to make good choices that could result in big savings. Many things are considered when pricing auto insurance. Most are fairly basic such as traffic violations, but other factors are more obscure like where you live or your financial responsibility.

• Add-on coverages you don’t use – Policies have extra coverages that sound like a good idea at the time if you aren’t careful. Coverage for things like rental car coverage, high-cost glass coverage, and membership fees are examples of these. They may seem like a good idea initially, but your needs may have changed so get rid of them and save.

• Gender and car insurance prices – The statistics show that females take fewer risks when driving. This data doesn’t prove that men are WORSE drivers than women. Males and females cause accidents in similar percentages, but guys have accidents that have higher claims. Men also statistically get more serious tickets like DWI (DUI) or reckless driving.

  The diagram below shows the difference between Chevy Camaro premium costs for male and female drivers. The prices are based on no driving violations, no at-fault accidents, full coverage, $1,000 deductibles, single status, and no policy discounts are applied.

• Better credit means lower prices – Having a bad credit history will be a significant factor in your rate calculation. Drivers with high credit scores tend to be better risks to insure than drivers with bad credit. If your credit score leaves room for improvement, you could potentially save money when insuring your Chevrolet Camaro by repairing your credit.
• Raising comp and collision deductibles lowers rates – Comp and collision deductibles tell how much you are willing to pay in the event of a claim. Coverage for physical damage, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Some examples of claims that would be covered could be colliding with a stationary object, damage caused by hail, and having a roll-over accident. The more of the claim you are required to pay out-of-pocket, the lower your rates will be.

• Age of drivers impacts premiums – More experienced drivers tend to be more responsible, statistically cause fewer accidents, and get fewer tickets. Inexperience drivers have been known to be more careless behind the wheel and because of this, their auto insurance rates are much higher.

  The following data uses these variables: single driver, full coverage with $100 deductibles, and no discounts or violations.

• Chevy Camaro insurance loss statistics – Insurance companies include the past claim history for a vehicle when they calculate premium rates for each model. Vehicles that tend to have higher frequency or amount of claims will have higher rates for specific coverages.

  The table below illustrates the collected loss data for Chevy Camaro vehicles. For each coverage category, the claim amount for all vehicles, as an average, is represented as 100. Numbers that are below 100 imply a favorable loss record, while values that are 100 or greater indicate a higher chance of having a claim or tendency to have higher losses.

  
  

  Chevrolet Camaro Insurance Claim Statistics

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Chevrolet Camaro 2dr	139	118	123	123	130	127
  Chevrolet Camaro Convertible	92	85	107	85	95	103
  Chevrolet Camaro ZL1 2dr	222	80	174
  Chevrolet Camaro ZL1 Convertible	111		113

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Compare auto insurance rates regularly to save

As you quote New Orleans auto insurance, you should never buy less coverage just to save a little money. Too many times, an insured dropped uninsured motorist or liability limits and discovered at claim time they didn’t have enough coverage. Your goal is to purchase a proper amount of coverage for the lowest cost and still be able to protect your assets.

Insureds switch companies for many reasons like being labeled a high risk driver, policy non-renewal, extreme rates for teen drivers or unfair underwriting practices. Regardless of your reason, switching auto insurance companies can be less work than you think.

Some insurance companies may not offer internet price quotes and these smaller companies only sell through independent insurance agencies. Cheap Chevy Camaro insurance in New Orleans is available online in addition to many New Orleans insurance agents, and you should compare price quotes from both to have the best selection.

Additional information can be found below:

• Reducing Your Risks in a Car Crash Video (iihs.org)
• How Much is Auto Insurance for a Honda CR-V in New Orleans? (FAQ)
• Who Has Cheap Auto Insurance for Active Military in New Orleans? (FAQ)
• Learn About Car Insurance (GEICO)
• Shopping for a Safe Car (Insurance Information Institute)
• Insurance Losses by Make and Model (iihs.org)
• Auto Insurance for Teen Drivers (Insurance Information Institute)