Buying the best cheap auto insurance for a Chevrolet Equinox in Arizona relies on a pretty complex algorithm that uses a lot of factors such as the safety rating of your vehicle, your residence address, and driving violations. Drivers in Arizona will pay around $1,188 each year for Equinox insurance, but that price is an estimation based on a 40-year-old single female driver with full coverage and $100 deductibles.
When projecting a rate like this, the problem is that you may not be 40 years old (or even female), possibly married instead of single, or maybe your Equinox is old enough that it doesn’t require full coverage. Auto insurance requires individual risk assessment, so the only way to find cheap insurance rates for your Chevrolet is to do your own rate comparisons.
Your Chevrolet’s trim level tends to have a direct impact on price, so the cost to insure a Equinox LS 2WD model will be $126 lower than the cost to insure the higher-end Equinox LTZ AWD version, as shown below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Equinox LS 2WD||$248||$526||$390||$24||$116||$1,304||$109|
|Equinox LT 2WD||$248||$526||$390||$24||$116||$1,304||$109|
|Equinox LS AWD||$248||$526||$390||$24||$116||$1,304||$109|
|Equinox LT AWD||$248||$526||$390||$24||$116||$1,304||$109|
|Equinox LTZ 2WD||$280||$620||$390||$24||$116||$1,430||$119|
|Equinox LTZ AWD||$280||$620||$390||$24||$116||$1,430||$119|
|Equinox LTZ AWD||$280||$620||$390||$24||$116||$1,430||$119|
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Data rating is based on single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Arizona minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, multi-vehicle, and safe-driver. Price estimates do not factor in the specific area where the vehicle is garaged which can change premium rates noticeably.
Determining which companies quote the most affordable insurance rates for a Chevrolet Equinox will take a little more sweat in order to find coverage that fits your budget. Every insurance provider has their own unique process for setting rates, so let’s look at the rankings for the overall cheapest insurance companies in Phoenix, AZ.
Find the Best Cheap Insurance for Your Equinox
|Rank||Company||Cost Per Year|
|11||Farm Bureau Mutual||$1,285|
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The Hartford normally has some of the lowest car insurance rates in Phoenix at around $836 annually. Auto-Owners, Safeco, Travelers, and USAA would also make the list of some of the more affordable Phoenix, AZ insurance companies.
As the example above demonstrates, if you currently have a policy with Safeco and switched to The Hartford, you could see an annual savings of about $87. Drivers with Travelers might save as much as $272 a year, and USAA insureds might cut rates by $277 a year.
To find out how your current rates compare, click here to start a quote or feel free to get quotes from the companies below.
These premiums are averages across all drivers and vehicles in Arizona and do not take into consideration an exact location for a Chevrolet Equinox. So the car insurance company that can offer you the best rate may not even be in the list above. That point stresses why you need to compare rates from as many companies as possible using your own driver and vehicle profiles.
Should you buy full coverage?
Paying a lower price for insurance is the goal of the majority of people, and one of the quickest ways to reduce the cost of insurance for a Chevrolet Equinox is to not buy full coverage. The chart below shows the comparison of insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Arizona. The data is based on no claims, a clean driving record, $100 deductibles, single status, and no policy discounts are applied.
As an average, physical damage insurance costs $2,042 per year more than buying just liability insurance. That may make you wonder if buying full coverage is worth the expense. There is no set rule to stop paying for comprehensive and collision coverage on your policy, but there is a guideline you can use. If the yearly cost of full coverage is more than around 10% of the settlement you would receive from your company, then you might want to think about dropping full coverage.
For example, let’s say your vehicle’s book value is $7,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $6,000 after you pay the deductible. If it’s costing you more than $600 annually for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
Why you should be comparing rates
Phoenix insurance rates are impacted by many things that control the price you pay for coverage. Getting older, buying a different vehicle, or getting a few speeding tickets can trigger rate changes resulting in some rates now being much cheaper than others.
Also, insurers modify pricing at least once a year in order to maintain liquidity for claims. Heavier than normal losses may cause high rates, while a lower level of claims may produce more affordable Equinox insurance rates.
The chart below shows the company with the cheapest car insurance in Phoenix, AZ for a 40-year-old male driver with no accidents, a clean driving record, and a good credit history. When comparing rates based on his personal profile, The Hartford has the most affordable car insurance rates in Phoenix at $1,196 per year. This is $232 less than the average price paid by Arizona drivers of $1,428. Auto-Owners, Safeco, Travelers, and USAA are the rest of the cheapest Phoenix, AZ auto insurance companies.
The example below compares rates after we give the driver in the first chart an accident claim, a little lower credit rating, and a blemish on his driving record. Due to the fact that every insurance company has a different formula to establish rates, getting updated rate quotes most likely will result in a slightly different list of the cheapest companies as shown below.
GEICO now has the cheapest price in Phoenix, AZ with Ameriprise Group, Allied, CSAA, and Safe Auto completing the list. This illustrates why Phoenix drivers need to spend some time comparing rates when trying to get the most budget-friendly insurance rates for a Chevrolet Equinox.
Car insurance prices consist of many risk factors and change dramatically, so the cheapest option when you bought your policy may now be one of the more expensive options.
The agencies below can probably answer your questions and help you decide which car insurance policy is best, as lots of people like to have some advice when comparing insurance rates for a Chevrolet Equinox. It can be time-consuming to find the cheapest rates, and insurance agents licensed in the state of Arizona can give peace of mind knowing you have sufficient coverage at claim time.
To locate an agency closest to you, click the button link following the list or click here to compare price quotes.
Martha Bueti – State Farm Insurance Agent
3540 E Baseline Rd #115 – Phoenix, AZ 85042 – (602) 243-9209
Bob Schneider – State Farm Insurance Agent
243 W Portland St – Phoenix, AZ 85003 – (602) 277-2687
Severiano Torres III – State Farm Insurance Agent
1820 N 75th Ave #106 – Phoenix, AZ 85035 – (623) 846-0240