Are you looking for more affordable Chevy Malibu insurance in Philadelphia? Are you frustrated by the sheer number of auto insurance providers in your area? You’re not alone. There are so many choices that it is more work than you anticipated to find the perfect company for you. If you’ve ever been there, you know that Philadelphia is the perfect city to reside in, but high auto insurance premiums can make it difficult for lots of drivers to be able to buy decent coverage.
It’s safe to assume that auto insurance companies don’t want you to look for a cheaper policy. Insureds who rate shop once a year will probably buy a new policy because of the high probability of finding coverage at a more affordable price. A recent auto insurance study discovered that people who did price comparisons regularly saved on average $3,500 over four years compared to people who never shopped around for better prices.
If saving the most money on car insurance in Philadelphia is your goal, then knowing how to choose a company and compare insurance coverage can save time and make the process easier.
You should take the time to compare rates periodically because auto insurance rates tend to go up over time. If you had the best deal on Chevy Malibu insurance in Philadelphia on your last policy the chances are good that you can find a lower price today. Ignore everything you know about auto insurance because you’re about to learn one of the best ways to save money, get proper coverage and the best rates.
If you already have coverage, you will be able to get lower rates using the ideas covered in this article. Shopping around for cheaper insurance policy in Philadelphia is not as confusing as people think. Although Pennsylvania vehicle owners should learn how the larger insurance companies determine premium rates and use it to find better rates.
When shopping for Chevy Malibu insurance in Philadelphia there are multiple ways to compare rate quotes from many different Pennsylvania insurance companies. The best method to find affordable insurance rates involves getting comparison quotes online.
When comparison shopping, comparing all the rates in your area will increase your chances of finding lower pricing.
The companies in the list below can provide free rate quotes in Pennsylvania. If several companies are displayed, we suggest you visit two to three different companies to get a more complete price comparison.
Score discounts on Philadelphia auto insurance
Some companies do not list every available discount in an easy-to-find place, so the list below contains both the well known as well as the least known discounts that you may qualify for. If you are not receiving all the discounts possible, you could be saving more on your auto insurance.
- College Student – College-age children who attend college more than 100 miles from Philadelphia and don’t have a car could get you a discount.
- Senior Citizen Discount – Drivers that qualify as senior citizens may receive a small decrease in premiums.
- New Car Discount – Buying coverage on a new vehicle can be considerably cheaper since newer vehicles have better safety ratings.
- Use Seat Belts – Buckling up and requiring all passengers to wear their seat belts can save up to 15% on the premium charged for medical payments and/or PIP.
- Discount for Home Ownership – Owning a house in Philadelphia may trigger a policy discount on auto insurance because of the fact that having a home requires personal responsibility.
- Multi-line Discount – Select auto insurance companies reward you with a discounted rate on car insurance if you buy life insurance from them.
You can save money using discounts, but most discounts do not apply to the entire policy premium. The majority will only reduce specific coverage prices like comprehensive or collision. Despite the fact that it seems like having all the discounts means you get insurance for free, company stockholders wouldn’t be very happy.
The diagram below visualizes the comparison of Chevy Malibu insurance prices with and without discounts being applied to the rates. Data assumes a female driver, no claims or violations, Pennsylvania state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, multi-car, safe-driver, marriage, and homeowner discounts applied.
The best auto insurance companies and their possible discounts can be read below.
- State Farm policyholders can earn discounts including good student, Steer Clear safe driver discount, good driver, anti-theft, accident-free, and multiple policy.
- Progressive may have discounts that include online quote discount, multi-vehicle, multi-policy, continuous coverage, homeowner, online signing, and good student.
- Progressive discounts include good student, online signing, online quote discount, homeowner, and multi-vehicle.
- MetLife offers discounts for good driver, claim-free, defensive driver, accident-free, and multi-policy.
- Farm Bureau offers discounts including youthful driver, multi-policy, driver training, multi-vehicle, safe driver, 55 and retired, and renewal discount.
- GEICO has discounts for federal employee, multi-vehicle, good student, anti-lock brakes, and seat belt use.
- SAFECO may include discounts for accident prevention training, teen safe driver, bundle discounts, anti-theft, homeowner, teen safety rewards, and anti-lock brakes.
When getting a coverage quote, ask each insurance company which discounts you may be entitled to. Some of the earlier mentioned discounts might not apply in Philadelphia.
Chevy Malibu insurance statistics and information
The information displayed below showcases a range of insurance policy prices for Chevy Malibu models. Learning as much as possible about how auto insurance prices are established can help customers make decisions on the best policy coverages.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Malibu LS | $206 | $346 | $330 | $20 | $98 | $1,000 | $83 |
| Malibu Hybrid | $206 | $346 | $330 | $20 | $98 | $1,000 | $83 |
| Malibu LT | $234 | $346 | $330 | $20 | $98 | $1,028 | $86 |
| Malibu LTZ | $234 | $408 | $330 | $20 | $98 | $1,090 | $91 |
| Get Your Own Customized Quote Go | |||||||
Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Pennsylvania minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, multi-vehicle, and claim-free. Premium amounts do not factor in the specific area where the vehicle is garaged which can revise price quotes noticeably.
Comparison of policy deductibles
One of the more difficult decisions when buying insurance is which deductibles should you choose. The comparison tables below may help to illustrate the differences in premium rates between high and low physical damage deductibles. The first price estimate table uses a $100 deductible and the second rate chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Malibu LS | $284 | $512 | $330 | $20 | $98 | $1,269 | $106 |
| Malibu Hybrid | $284 | $512 | $330 | $20 | $98 | $1,269 | $106 |
| Malibu LT | $320 | $512 | $330 | $20 | $98 | $1,305 | $109 |
| Malibu LTZ | $320 | $602 | $330 | $20 | $98 | $1,395 | $116 |
| Get Your Own Customized Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Malibu LS | $158 | $270 | $330 | $20 | $98 | $876 | $73 |
| Malibu Hybrid | $158 | $270 | $330 | $20 | $98 | $876 | $73 |
| Malibu LT | $178 | $270 | $330 | $20 | $98 | $896 | $75 |
| Malibu LTZ | $178 | $318 | $330 | $20 | $98 | $944 | $79 |
| Get Your Own Customized Quote Go | |||||||
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Pennsylvania minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Information does not factor in specific location which can increase or decrease price quotes significantly.
Using the premium rates above, we can conclude that using a $100 deductible will cost in the ballpark of $34 more each month or $408 a year than opting for the higher $1,000 deductible. Since you would have to pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to go at least 26 months between claims, you would more than likely save some money if you elect the higher deductible.
How to calculate deductible break even period
| Average monthly premium for $100 deductibles: | $109 |
| Average monthly premium for $1,000 deductibles (subtract): | – $75 |
| Monthly savings from raising deductible: | $34 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $34 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 26 months |
One important caveat is that a higher deductible level results in a higher out-of-pocket expense when you have a claim. You should have some available funds in order to pay the deductible for vehicle repair.
Tickets and at-fault accidents raise rates
The example below shows how speeding tickets and fender-benders can influence Chevy Malibu yearly insurance costs for each different age category. The premiums assume a single female driver, full coverage, $250 deductibles, and no additional discounts are factored in.
Chevrolet Malibu insurance costs by age and gender
The diagram below illustrates the comparison of Chevy Malibu annual premium costs for male and female drivers. Data assumes a clean driving record, no at-fault accidents, comprehensive and collision coverage, $100 deductibles, drivers are not married, and no other discounts are factored in.
Difference between liability only and full coverage rates
The diagram below compares Chevy Malibu insurance costs with full coverage compared to only the Pennsylvania minimum liability coverage. The costs are based on no claims or driving citations, $500 deductibles, single status, and no discounts are factored in.
Should you pay for full coverage or liability only?
There is no written rule to stop paying for physical damage coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is 10% or more of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.
For example, let’s assume your Chevy Malibu replacement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $2,000 after the policy deductible has been paid. If you are currently paying more than $200 a year to have full coverage, then it could be time to drop full coverage.
There are a few cases where dropping physical damage coverage is not recommended. If you still owe a portion of the original loan, you have to maintain full coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not eliminate full coverage.
Get Cheaper Insurance Premiums by Understanding These Factors
Lots of things are considered when you quote your car insurance policy. Some factors are common sense such as your driving history, but some are more obscure like where you live or your vehicle rating.
Where you live plays a part – Being located in a small town is a positive aspect when trying to find low car insurance rates. Fewer drivers translates into fewer accidents. Residents of big cities have more auto accidents and more time behind the wheel. More time behind the wheel means higher likelihood of an accident.
Reduce premiums by driving cars with good safety ratings – Safer cars get lower rates. These vehicles reduce occupant injuries and lower injury rates translates into fewer and smaller insurance claims and more competitive rates for policyholders. If the Chevy Malibu has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website you are probably receiving a discount.
High credit scores save money – Having a bad credit rating is likely to be a major factor in calculating your premium rate. Therefore, if your credit score leaves room for improvement, you could potentially save money when insuring your Chevrolet Malibu by taking the time to improve your credit score. Drivers who have very high credit ratings tend to be better drivers and file fewer claims as compared to drivers with poor credit scores.
Save by staying claim free – Insurance companies in Pennsylvania generally give lower rates to policyholders who are not frequent claim filers. If you file a lot of claims you can definitely plan on higher rates. Auto insurance is intended for more catastrophic claims.
Drive a fast car and pay more – The performance level of the car you are buying insurance for makes a big difference in determining your rates. Lower cost passenger cars normally have pretty low rates, but that’s not the only thing that factors into the final price.
The following chart assumes a married female driver age 50, full coverage with $250 deductibles, and no discounts or violations. The data compares Chevrolet Malibu car insurance rates compared to other models of vehicles that have different performance rating factors.
Chevy Malibu statistical loss data – Companies analyze claim trends for every vehicle to help calculate premium costs. Models that the statistics show to have a trend towards higher claim severity or frequency will cost more for coverage. The table below illustrates the collected loss data for Chevy Malibu vehicles.
For each coverage type, the loss probability for all vehicles, without regard to make or model, is a value of 100. Numbers under 100 indicate a favorable loss history, while numbers that are greater than 100 show a trend for more claims or an increased chance of a larger loss.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Chevrolet Malibu | 94 | 100 | 109 | 139 | 145 | 120 |
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
When to talk to an agent
Many drivers would rather buy from a local agent and that is not a bad decision The best thing about comparing rate quotes online is that you can obtain better rates but still work with a licensed agent.
After filling out this form (opens in new window), your coverage information is sent to insurance agents in Philadelphia that provide free Philadelphia auto insurance quotes to get your business. You won’t need to leave your house since price quotes are sent immediately to your email address. You’ll get the best rates without requiring a lot of work. If you wish to compare rates from a particular provider, you just need to visit that company’s website and give them your coverage information.
Deciding on an company requires more thought than just a cheap price quote. A good agent in Philadelphia will have answers to these questions.
- Are they actively involved in the community?
- Do clients work directly with the agent or are most inquiries handled by a CSR?
- Do they have 24-hour customer assistance?
- When do they do a full risk review?
- Are there any discounts for paying up front?
- Does the agency have a positive business rating?
- Do they offer accident forgiveness?
- Do they assist clients in filing claims?
When searching for a local insurance agency, it’s important to understand the different types of agencies that you can choose from. Insurance policy providers may be either exclusive or independent (non-exclusive).
Exclusive Insurance Agencies
Exclusive agencies can only quote rates from one company and some examples include Allstate, State Farm and Farmers Insurance. They usually cannot give you multiple price quotes so you might not find the best rates. They receive extensive training on their company’s products which helps overcome the inability to quote other rates. Many people purchase coverage from exclusives primarily because of the prominence of the brand instead of buying on price only.
Listed below are exclusive insurance agents in Philadelphia who may provide you with price quotes.
- Jeff Gottesman – State Farm Insurance Agent
9551 Bustleton Ave – Philadelphia, PA 19115 – (215) 725-1000 – View Map - State Farm – Philadelphia – Thanh Pham
254 S 10th St – Philadelphia, PA 19107 – (215) 238-7400 – View Map - Ahida Garcia – State Farm Insurance Agent
716 Adams Ave Ste 8 – Philadelphia, PA 19124 – (215) 533-5550 – View Map
Independent Insurance Agencies
Agents that choose to be independent do not sell for just one brand so they can insure your vehicles with multiple insurance companies and possibly get better coverage at lower prices. If they quote lower rates, an independent agent can move your coverage and you don’t have to switch agencies. When shopping rates, it’s a good idea to compare prices from a couple of independent agencies in order to have the best price comparison. Many independent agencies also insure through smaller mutual companies who may have lower rates.
Shown below is a list of independent agencies in Philadelphia who can help you get comparison quotes.
- Martin Insurance
5700 Delancey St – Philadelphia, PA 19143 – (215) 471-6860 – View Map - Torri Insurance Agency
214 Fairmount Ave – Philadelphia, PA 19123 – (800) 701-5909 – View Map - Eckroth Insurance Group LLC
521 N 22nd St – Philadelphia, PA 19130 – (215) 232-0200 – View Map
What is the best insurance coverage?
When it comes to choosing coverage online or from an agent for your personal vehicles, there isn’t really a cookie cutter policy. Your needs are unique to you.
For instance, these questions might help in determining if your situation would benefit from professional advice.
- Do I need more liability coverage?
- Do I have coverage if my license is suspended?
- Which is better, split liability limits or combined limits?
- When should I not file a claim?
- When should I not buy collision coverage?
- Who sells insurance for high-risk drivers?
If you don’t know the answers to these questions, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, take a second and complete this form.
More quotes mean more insurance savings
You just read some good ideas how to shop for Chevy Malibu insurance online. The key thing to remember is the more price quotes you have, the more likely it is that you will get a better rate. You may even find the lowest priced insurance comes from some of the smallest insurance companies.
When you buy Philadelphia auto insurance online, you should never buy less coverage just to save a little money. In many instances, an accident victim reduced collision coverage only to regret that they should have had better coverage. The goal is to purchase a proper amount of coverage at an affordable rate while still protecting your assets.
The cheapest Chevy Malibu insurance in Philadelphia is definitely available online and from local insurance agents, and you need to price shop both in order to have the best price selection to choose from. A few companies do not provide price quotes online and these smaller providers sell through independent insurance agencies.
Even more information is available by following these links:
- Young Drivers: The High Risk Years Video (iihs.org)
- Who Has Affordable Car Insurance for Business Use in Philadelphia? (FAQ)
- What Car Insurance is Cheapest for Infrequent Drivers in Philadelphia? (FAQ)
- How Much are Auto Insurance Rates for a Toyota Camry in Philadelphia? (FAQ)
- How Much is Philadelphia Auto Insurance for Drivers Requiring a SR22? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for a Chevrolet Malibu in Philadelphia? (FAQ)
- Distracted Driving (Insurance Information Institute)
- Teen Driver Licensing Information (iihs.org)