Cheapest Insurance for a Chevy Cobalt in Toledo

It’s an obvious assumption that auto insurance companies don’t want customers comparing rates. People who shop around for a cheaper policy will most likely buy a different policy because there is a good chance of finding coverage at a cheaper rate. A study showed that people who made a habit of comparing rates saved over $3,450 over four years compared to drivers who never shopped around for cheaper prices.

If finding the best price on insurance in Toledo is your objective, then having some insight into how to shop for coverage rates can help simplify the task of finding more affordable coverage.

If saving money is your primary concern, then the best way to get more affordable Chevy Cobalt insurance in Toledo is to do a yearly price comparison from providers that insure vehicles in Ohio.

1. Take a few minutes and learn about how car insurance works and the things you can control to drop your rates. Many things that increase rates such as careless driving and poor credit history can be remedied by paying attention to minor details. Read the full article for instructions to find cheap rates and find missing discounts.
2. Request price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only provide price estimates from a single company like GEICO and Allstate, while agents who are independent can quote rates for a wide range of companies.
3. Compare the new rate quotes to your current policy premium and see if you can save money. If you find a lower rate, make sure coverage is continuous and does not lapse.

The key thing to know about shopping around is that you’ll want to make sure you compare similar deductibles and liability limits on every quote request and to quote with all possible companies. This guarantees an accurate price comparison and a thorough price selection.

Buying the cheapest auto insurance in Toledo is much easier if you know where to start. If you’re already insured, you will be able to get lower rates using this information. Drivers just need to know the proper methods to compare company rates online.

The companies in the list below are ready to provide price quotes in Toledo, OH. If multiple companies are listed, we suggest you visit several of them in order to get a fair rate comparison.

Chevy Cobalt detailed coverage information

The price information displayed below highlights a range of insurance premium costs for Chevy Cobalt models. Learning more about how auto insurance policy rates are calculated can help you make decisions on the best policy coverages.

Table data represents married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Price information does not factor in your specific Toledo location which can affect coverage prices significantly.

Higher deductibles lower rates

When comparing auto insurance rates, the most common question is how high or low should comp and collision deductibles be. The rates shown below may help you to understand the difference in cost of buying low and high insurance deductibles. The first data table uses a $250 physical damage deductible and the second price chart uses a $500 deductible.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, multi-vehicle, and safe-driver. Rate information does not factor in specific Toledo garaging location which can increase or decrease insurance rates substantially.

Using the premium rates above, we can conclude that using a $250 deductible will cost in the ballpark of $11 more each month or $132 for a full year across all Chevrolet Cobalt models than requesting the higher $500 deductible. Due to the fact that you would have to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you tend to average at least 23 months between claims, you would come out ahead if you decide on a higher deductible. The table below shows how you can perform this determination yourself.

One thing to note is that raising deductibles to save money means you will have to pay more of your own money when you have to file a claim. You need some money saved in order to pay more to get your vehicle repaired.

The chart below highlights how deductible choice and can influence Chevy Cobalt insurance costs for different ages of insureds. The rates are based on a single female driver, comprehensive and collision coverage, and no discounts are taken into consideration.

Impact of speeding/accidents on auto insurance rates

The diagram below demonstrates how speeding tickets and at-fault claims raise Chevy Cobalt auto insurance costs for each age group. The information is based on a single female driver, comprehensive and collision coverage, $250 deductibles, and no additional discounts are factored in.

Chevrolet Cobalt insurance rates by gender

The information below shows the difference between Chevy Cobalt annual premium costs for male and female drivers. The costs are based on no violations or accidents, full coverage, $100 deductibles, drivers are not married, and no policy discounts are applied.

Take advantage of these nine premium slashing discounts

Insuring your vehicles can cost a lot, but there could be significant discounts that many consumers don’t even know exist. Certain reductions will be credited when you purchase, but some must be requested specifically before they will apply.

• Theft Deterrent – Vehicles that have factory alarm systems and tracking devices are less likely to be stolen and qualify for as much as a 10% discount.
• Driver Training Discounts – Participating in a course that instructs on driving safety can save you 5% or more if you qualify.
• Active Military Service – Having a deployed family member could mean lower prices.
• Telematics Data – Drivers that enable their insurance company to analyze when and where they use their vehicle by using a telematics device in their vehicle such as In-Drive from State Farm or Allstate’s Drivewise system may see discounts as long as they are good drivers.
• Government Employees – Simply working for the federal government may qualify for a discount when you quote Toledo car insurance but check with your company.
• Life Insurance Discount – Larger car insurance companies have a discount if you purchase some life insurance too.
• Sign Early and Save – A few companies allow discounts for buying a policy before your current Cobalt insurance policy expires. It can save you around 10%.
• Good Student – Performing well in school may save as much as 25% on a Toledo car insurance quote. Most companies allow this discount up to age 25.
• Discounts for Responsible Drivers – Insureds who avoid accidents can save as much as half off their rates than less cautious drivers.

You should keep in mind that most credits do not apply to the entire policy premium. The majority will only reduce the price of certain insurance coverages like medical payments or collision. So when the math indicates adding up those discounts means a free policy, companies don’t profit that way.

The diagram below visualizes the comparison of Chevy Cobalt insurance costs with and without discounts applied. The costs are based on a female driver, a clean driving record, no claims, Ohio state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, multi-policy, safe-driver, homeowner, and claim-free discounts applied.

Large car insurance companies and the discounts they provide include:

• Progressive offers discounts for online quote discount, online signing, homeowner, good student, and multi-policy.
• GEICO may offer discounts for driver training, multi-policy, emergency military deployment, anti-lock brakes, good student, multi-vehicle, and military active duty.
• State Farm offers discounts including good driver, student away at school, multiple autos, multiple policy, passive restraint, Steer Clear safe driver discount, and Drive Safe & Save.
• Esurance has savings for claim free, defensive driver, online quote, homeowner, emergency road assistance, and multi-car.
• The Hartford policyholders can earn discounts including driver training, air bag, vehicle fuel type, bundle, anti-theft, and good student.

It’s a good idea to ask every company how many discounts you can get. A few discounts may not apply to policyholders in your state. If you would like to view car insurance companies with the best discounts in Toledo, click here.

It may be expensive, but it’s not optional

Even though it can be expensive, paying for insurance is required for several reasons.

First, just about all states have compulsory liability insurance requirements which means you are required to carry specific limits of liability protection in order to be legal. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.

Second, if you have a loan on your vehicle, almost all lenders will require you to buy insurance to guarantee payment of the loan. If coverage lapses or is canceled, the bank may buy a policy for your Chevy at an extremely high rate and require you to fork over the higher premium.

Third, insurance safeguards not only your vehicle but also your assets. Insurance will also pay for all forms of medical expenses that are the result of an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney if you are sued as the result of an accident. If your Chevy gets damaged, comprehensive and collision coverage will pay to have it repaired.

The benefits of having insurance are definitely more than the cost, especially with large liability claims. The average driver in Ohio is overpaying over $800 each year so we recommend shopping around at every renewal to make sure the price is not too high.

Don’t assume everyone needs the same auto insurance coverage

When quoting and choosing the best auto insurance coverage for your vehicles, there isn’t really a single plan that fits everyone. Everyone’s needs are different.

For instance, these questions may help highlight whether your personal situation would benefit from an agent’s advice.

• How high should deductibles be on a Chevy Cobalt?
• When should I drop full coverage on my Chevy Cobalt?
• Do I need motorclub coverage?
• How much will a speeding ticket raise my rates?
• What is the difference between personal and commercial auto insurance policies?
• How does medical payments coverage work?
• Does insurance cover damages from a DUI accident?

If you can’t answer these questions, you may need to chat with an agent. If you want to speak to an agent in your area, complete this form. It’s fast, free and you can get the answers you need.

Insurance quotes from local neighborhood Toledo car insurance agents

Certain consumers still like to buy from a licensed agent and that is recommended in a lot of cases Licensed agents can make sure you are properly covered and help file insurance claims. One of the great benefits of comparing rates online is that drivers can save money and get cheap insurance quotes and still have an agent to talk to.

For easy comparison, once you complete this form (opens in new window), your insurance data is immediately sent to agents in your area who will return price quotes to get your business. You don’t have to visit any agencies because quoted prices will be sent instantly to you. If you need to get a price quote from a specific insurance provider, you can always find their quoting web page and complete a quote there.

Picking the best insurer should include more criteria than just the price. Ask your prospective agent these questions:

• Where would your vehicle be repaired?
• Does the quote include credit and driving reports?
• When do they do policy reviews?
• Do they offer accident forgiveness?
• Do they offer claims assistance after hours?
• Does the agency have a current Errors and Omissions policy?

If you need to find a good insurance agency, there are two types of agencies and how they differ in how they can insure your vehicles. Agencies in Toledo are either independent agents or exclusive agents depending on their employer. Both types of agents can handle insurance, but it is a good idea to know the difference in the companies they write for since it may influence the selection process.

Exclusive Agencies

Exclusive insurance agents write business for a single company such as Allstate, AAA, Farmers Insurance, and State Farm. Exclusive agents cannot give you multiple price quotes so always compare other rates. Exclusive agents are usually quite knowledgeable on their company’s products which can be an advantage.

The following are Toledo exclusive agencies who may provide you with price quotes.

More Toledo agents

Independent Agents

Agents of this type often have affiliation with several companies so they can insure your vehicles with any number of different companies and help determine which has the cheapest rates. If your premiums go up, they simply move the coverage in-house and you won’t have to switch agencies.

When comparing insurance rates, you will want to include rate quotes from several independent agencies to ensure the widest selection of prices.

Below are Toledo independent insurance agents that can give you rate quotes.

More Toledo agents

Once you have received satisfactory answers for all questions you ask as well as offering an affordable quote, you’ve probably found an auto insurance agent that meets the criteria to insure your vehicles.

Specifics of your car insurance policy

Knowing the specifics of your car insurance policy can help you determine the right coverages at the best deductibles and correct limits. Policy terminology can be ambiguous and even agents have difficulty translating policy wording.

Insurance for medical payments – Medical payments and Personal Injury Protection insurance reimburse you for short-term medical expenses for chiropractic care, rehabilitation expenses, X-ray expenses, funeral costs and pain medications. They can be used to fill the gap from your health insurance program or if you do not have health coverage. Coverage applies to all vehicle occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is not universally available and gives slightly broader coverage than med pay

Uninsured Motorist or Underinsured Motorist insurance – Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they do not carry enough liability coverage. Covered losses include injuries to you and your family and also any damage incurred to your Chevy Cobalt.

Due to the fact that many Ohio drivers only carry the minimum required liability limits (which is 25/50/25), their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Liability – This provides protection from injuries or damage you cause to other’s property or people by causing an accident. This insurance protects YOU against claims from other people, and does not provide coverage for your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show policy limits of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and $25,000 of coverage for damaged property.

Liability coverage protects against things such as emergency aid, structural damage, court costs and medical services. How much liability coverage do you need? That is your choice, but you should buy as high a limit as you can afford. Ohio state law requires minimum liability limits of 25/50/25 but drivers should carry higher limits.

The next chart shows why minimum state limits may not be enough.

Comprehensive coverage (or Other than Collision) – This pays to fix your vehicle from damage that is not covered by collision coverage. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage pays for claims like damage from getting keyed, fire damage, hitting a bird and vandalism. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.

Collision coverage – This coverage will pay to fix damage to your Cobalt resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers claims like rolling your car, crashing into a ditch and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. It’s also possible to choose a higher deductible on your Cobalt to save money on collision insurance.