Auto Insurance Rate Quotes for a Chevy Aveo in New Orleans

Insurance rates Chevy Aveo in New OrleansIt’s an obvious assumption that car insurance companies don’t want their customers to go rate shopping. Consumers who shop around for cheaper rates will presumably move their business because of the high probability of finding coverage at a more affordable price. A recent survey revealed that consumers who routinely shopped for cheaper coverage saved an average of $850 each year compared to people who never shopped for cheaper rates.

If finding budget-friendly rates on insurance is your intention, then having a grasp of how to shop for insurance coverage can help you succeed in finding affordable rates.

If you want to save the most money, the best way to find more affordable Chevy Aveo insurance is to start doing a yearly price comparison from companies who sell insurance in New Orleans. Rates can be compared by following these guidelines.

One key aspect of rate comparisons is to compare similar coverage information on each quote and and to get rates from all possible companies. This helps ensure the most accurate price comparison and the best price quote selection.

Locating the best rates in New Orleans is actually quite easy if you know where to start. Basically, each driver who has to buy auto insurance most likely will find better rates. But Louisiana consumers do need to understand the methods companies use to determine prices.

It’s important to know that obtaining a wide range of quotes increases your odds of finding a lower rate.

The companies in the list below have been selected to offer comparison quotes in Louisiana. If you want to find the best cheap car insurance in New Orleans, it’s a good idea that you get price quotes from several of them to find the most affordable car insurance rates.

Insurance does more than just repair your car

Despite the high cost of buying insurance for a Chevy Aveo in New Orleans, insuring your vehicle is not optional due to several reasons.

The benefits of having insurance are without a doubt worth the cost, especially with large liability claims. On average, a vehicle owner in New Orleans is currently overpaying as much as $800 each year so you should quote rates each time the policy renews to make sure the price is not too high.

Auto insurance data for a Chevy Aveo

The data table below covers a range of policy rates for Chevy Aveo models. Having a better idea how insurance policy premiums are calculated can be useful when making informed decisions when comparing rates.

Chevrolet Aveo Insurance Rates in New Orleans, LA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Aveo LS 4-Dr Hatchback $344 $876 $524 $32 $158 $1,934 $161
Aveo LS 4-Dr Sedan $344 $876 $524 $32 $158 $1,934 $161
Aveo LT 4-Dr Hatchback $388 $876 $524 $32 $158 $1,978 $165
Aveo LT 4-Dr Sedan $388 $876 $524 $32 $158 $1,978 $165
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Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Louisiana minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Rates do not factor in specific location which can affect prices significantly.

Higher deductibles save money

One of the more difficult decisions when buying auto insurance is the level to set your comp and collision deductibles. The tables below approximate the premium difference between low and high deductibles. The first rate comparisons uses a $100 deductible and the second price grid uses a $500 deductible.

Chevrolet Aveo insurance prices with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Aveo LS 4-Dr Hatchback $400 $850 $464 $28 $140 $1,907 $159
Aveo LS 4-Dr Sedan $400 $850 $464 $28 $140 $1,907 $159
Aveo LT 4-Dr Hatchback $452 $850 $464 $28 $140 $1,959 $163
Aveo LT 4-Dr Sedan $452 $850 $464 $28 $140 $1,959 $163
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Chevrolet Aveo insurance prices with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Aveo LS 4-Dr Hatchback $292 $574 $464 $28 $140 $1,498 $125
Aveo LS 4-Dr Sedan $292 $574 $464 $28 $140 $1,498 $125
Aveo LT 4-Dr Hatchback $330 $574 $464 $28 $140 $1,536 $128
Aveo LT 4-Dr Sedan $330 $574 $464 $28 $140 $1,536 $128
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Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Louisiana minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, multi-policy, and claim-free. Premium costs do not factor in specific New Orleans garaging location which can change coverage rates substantially.

We can estimate from the data above that using a $100 deductible would cost the average driver about $34 more each month or $408 a year averaged for all Aveo models than buying the higher $500 deductible. Since you would have to pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you go at a minimum 12 months between claim filings, you would come out ahead if you opt for a higher deductible. Below is how this determination is made.

Average monthly premium for $100 deductibles: $161
Average monthly premium for $500 deductibles (subtract): – $127
Monthly savings from raising deductible: $34
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $34
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 12 months

One thing to note is that a higher deductible results in a higher out-of-pocket expense when you have a physical damage claim. That will necessitate enough money stashed away in order to pay more to get your vehicle repaired.

The illustration below shows how different deductible levels and can raise or lower Chevy Aveo insurance rates for different age categories. The premium estimates are based on a married male driver, full physical damage coverage, and no discounts are applied to the premium.

Chevrolet Aveo insurance costs by age and gender

The diagram below illustrates the difference between Chevy Aveo insurance rates for male and female drivers. The prices are based on no accidents or driving violations, comp and collision included, $1,000 deductibles, marital status is single, and no discounts are taken into consideration.

Rate difference between full and liability-only coverage

The information below illustrates the comparison of Chevy Aveo annual premium costs when comparing full coverage to liability only. Data assumes a clean driving record, no at-fault accidents, $100 deductibles, drivers are not married, and no discounts are applied.

Should you pay for full coverage?

There is no clear-cut formula to stop paying for full coverage on your policy, but there is a general guideline. If the yearly cost for physical damage coverage is about 10% or more of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.

For example, let’s assume your Chevy Aveo settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is severely damaged, you would only receive $4,000 after the deductible is paid. If it’s costing in excess of $400 annually for physical damage coverage, then it might be time to buy liability only.

There are a few cases where dropping full coverage is not a good idea. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not opt for liability only.

Don’t overlook these Chevy Aveo insurance discounts

Car insurance is not cheap, but you might already qualify for some discounts that can drop the cost substantially. Some trigger automatically when you get a quote, but some may not be applied and must be specifically requested before you will receive the discount. If they aren’t giving you every credit you deserve, you are paying more than you should be.Car insurance discounts

Discounts save money, but please remember that many deductions do not apply to the entire policy premium. Most only reduce the cost of specific coverages such as physical damage coverage or medical payments. So even though they make it sound like it’s possible to get free car insurance, companies wouldn’t make money that way. Any qualifying discounts should definitely cut the cost of coverage.

The chart below illustrates the comparison of Chevy Aveo auto insurance rates with and without discounts. The rate quotes are based on a female driver, no violations or claims, Louisiana state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, claim-free, safe-driver, marriage, multi-policy, and homeowner discounts applied.

Larger car insurance companies and their possible discounts are outlined below.

If you want the cheapest Chevrolet Aveo rate quotes, ask all companies you are considering to give you their best rates. Savings might not be available to policyholders in New Orleans. If you would like to see a list of providers that offer multiple discounts in Louisiana, click here.

Auto insurance can get complicated

When selecting the right insurance coverage for your personal vehicles, there isn’t really a cookie cutter policy. Each situation is unique.Drive safe and save

For example, these questions might point out if your insurance needs would benefit from an agent’s advice.

If you can’t answer these questions but you think they might apply to your situation, you may need to chat with a licensed agent. If you want to speak to an agent in your area, fill out this quick form.