Cheap Quotes for Chevy Impala Insurance in Madison

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Insurance rates Chevy Impala in MadisonIt's shocking but about 70% of customers kept their policy with the same company for at least four years, and almost 40% of drivers have never even compared quotes to find lower-cost rates. Madison insurance shoppers could save almost 30% each year just by getting comparison quotes, but they just feel it's too hard to compare other rate quotes.

The best way we recommend to get cheaper car insurance rates in Madison is to do a yearly price comparison from companies that sell auto insurance in Wisconsin. You can compare rates by following these steps.

  • First, it will benefit you to learn about car insurance and the modifications you can make to prevent expensive coverage. Many factors that increase rates like speeding tickets, accidents and poor credit can be improved by improving your driving habits or financial responsibility.
  • Second, obtain price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can give quotes from a single company like Progressive or Farmers Insurance, while independent agents can provide rate quotes for a wide range of insurance providers. View rates
  • Third, compare the new rates to the premium of your current policy and see if there is a cheaper rate in Madison. If you find a lower rate and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.

One bit of advice is to try to compare the same level of coverage on each quote and and to get price quotes from as many car insurance companies as possible. Doing this enables the most accurate price comparison and a thorough price selection.

If you are insured now or are looking for a new policy, you will benefit by learning to find better prices without sacrificing coverage. Locating the most cost-effective car insurance policy in Madison is quite easy. Comparison shoppers only have to learn the most effective way to shop their coverage around from many different companies online.

The easiest way to get rate comparisons for Chevy Impala insurance in Madison is to know almost all companies allow for online access to give you rate quotes. The only thing you need to do is provide the companies a bit of rating information such as whether you have decent credit, whether you are married, your occupation, and the make and model of your vehicles. The rating information gets transmitted to insurance companies and you will get price comparisons within a short period of time.

To check Chevy Impala insurance prices now, click here and find out if you can get cheaper insurance in Madison.

The providers in the list below are ready to provide quotes in Madison, WI. In order to find cheap car insurance in Wisconsin, we recommend you visit several of them to get a more complete price comparison.

Car insurance analysis for a Chevy Impala

The information displayed below showcases estimates of coverage costs for Chevy Impala models. Understanding how car insurance premiums are figured can be valuable when making smart buying decisions.

Chevrolet Impala Insurance Rates in Madison, WI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Impala LS $82 $184 $242 $14 $72 $594 $50
Impala LS $82 $184 $242 $14 $72 $594 $50
Impala LT $94 $184 $242 $14 $72 $606 $51
Impala LT $94 $184 $242 $14 $72 $606 $51
Impala LTZ $94 $218 $242 $14 $72 $640 $53
Impala LTZ $94 $218 $242 $14 $72 $640 $53
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Table data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Information does not factor in the specific area where the vehicle is garaged which can increase or decrease prices significantly.

Deductible analysis

When comparing car insurance rates, the most common question is how high should the physical damage coverage deductibles be. The data tables below may help to conceptualize the cost difference between low and high policy deductibles. The first data table uses a $250 deductible and the second set of prices uses a $500 deductible.

Chevrolet Impala insurance policy rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Impala LS $154 $300 $230 $14 $68 $791 $66
Impala LS $154 $300 $230 $14 $68 $791 $66
Impala LT $178 $300 $230 $14 $68 $815 $68
Impala LT $178 $300 $230 $14 $68 $815 $68
Impala LTZ $178 $352 $230 $14 $68 $867 $72
Impala LTZ $178 $352 $230 $14 $68 $867 $72
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Chevrolet Impala insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Impala LS $126 $242 $230 $14 $68 $680 $57
Impala LS $126 $242 $230 $14 $68 $680 $57
Impala LT $144 $242 $230 $14 $68 $698 $58
Impala LT $144 $242 $230 $14 $68 $698 $58
Impala LTZ $144 $284 $230 $14 $68 $740 $62
Impala LTZ $144 $284 $230 $14 $68 $740 $62
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Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Price information does not factor in vehicle garaging location which can raise or lower price quotes significantly.

Based on the figures above, using a $250 deductible will cost in the ballpark of $10 more each month or $120 for a full year averaged for all Impala models than selecting the higher $500 deductible. Due to the fact that you would have to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you go at a minimum 25 months between claim filings, you would probably come out ahead if you choose a higher deductible.

How to determine if a higher deductible is a good idea

Average monthly premium for $250 deductibles: $69
Average monthly premium for $500 deductibles (subtract): - $59
Monthly savings from raising deductible: $10
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $10
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 25 months

The chart below illustrates how your choice of deductibles and can raise or lower Chevy Impala insurance premiums for different age groups of insureds. The prices are based on a married male driver, comp and collision included, and no additional discounts are factored in.

Poor driving habits will raise your car insurance rates

The example below demonstrates how speeding tickets and accident claims can impact Chevy Impala insurance premiums for different age groups of insureds. Data assumes a married female driver, comprehensive and collision coverage, $100 deductibles, and no policy discounts are applied.

Gender differences in car insurance premiums

The diagram below visualizes the comparison of Chevy Impala insurance premiums for male and female drivers. The premium estimates are based on no claims, a clean driving record, comp and collision included, $100 deductibles, single marital status, and no discounts are applied to the premium.

Full coverage versus liability-only in Madison

The information below illustrates the difference between Chevy Impala auto insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premium estimates are based on a clean driving record, no at-fault accidents, $100 deductibles, drivers are single, and no discounts are applied to the premium.

When to stop buying physical damage coverage

There is no clear-cut rule that is best for determining when to drop physical damage coverage, but there is a guideline you can consider. If the annual cost of your full coverage insurance is more than around 10% of the vehicle's replacement cost less your deductible, then it might be time to buy liability only.

For example, let's say your Chevy Impala claim settlement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would receive is $5,000 after the policy deductible has been paid. If premium cost is more than $500 a year for physical damage coverage, then it might be time to buy liability only.

There are some situations where removing full coverage is not financially feasible. If you still have a loan on your vehicle, you are required to maintain full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not buy liability only.

Why you need insurance

Despite the potentially high cost of Chevy Impala insurance, insuring your vehicle is required in Wisconsin but it also protects you in many ways.

  • The majority of states have minimum mandated liability insurance limits which means it is punishable by state law to not carry a minimum amount of liability in order to drive the car legally. In Wisconsin these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
  • If you have a lien on your Chevy Impala, almost all lenders will make it mandatory that you buy full coverage to guarantee payment of the loan. If you let the policy lapse, the bank will be required to insure your Chevy for a much higher rate and require you to pay for the expensive policy.
  • Insurance protects your Chevy Impala and your assets. Insurance will also pay for all forms of medical expenses incurred in an accident. Liability coverage will also pay attorney fees if you cause an accident and are sued. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.

The benefits of insuring your Impala definitely exceed the cost, especially with large liability claims. Despite what companies tell you, the average driver is wasting up to $750 every year so compare rates every year to be sure current rates are still competitive.

Chevy Impala Insurance Cost Factors

The best way to find cheaper auto insurance is to take a look at the factors that go into determining your auto insurance rates. When you understand what determines base rates, this allows you to make good choices that may result in lower auto insurance prices. Many factors are part of the equation when quoting car insurance. Some factors are common sense such as traffic violations, but other factors are less obvious like where you live or your financial responsibility.

  • Safety ratings are a factor - Cars with high safety ratings are cheaper to insure. Vehicles built for safety help reduce the chance of injuries in an accident and reduced instances of injuries translates directly to fewer claims passed on to you as lower rates. If your Chevy scored at minimum an "acceptable" rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may qualify for a discount.
  • A good credit history can save money - Having a bad credit rating will be a significant factor in calculating your premium rate. Insureds that have very high credit ratings tend to be more responsible and file fewer claims than drivers with bad credit. So if your credit score can use some improvement, you could save money insuring your Chevrolet Impala by improving your rating.
  • Physical damage deductibles - Physical damage deductibles state the amount of money you are willing to pay out-of-pocket before your auto insurance pays a claim. Insurance for physical damage to your car, also known as collision and other-than-collision, insures against damage to your car. Examples of covered claims would be rear-ending another vehicle, hail damage, and having a roll-over accident. The more damage repair cost you're willing to pay, the lower your rates will be.
  • Big cities have higher costs - Living in a small town may provide you with better prices when shopping for auto insurance. Urban drivers have to deal with more traffic problems and higher rates of accident claims. Fewer drivers translates into fewer accident claims in addition to lower liability claims.
  • Annual miles impacts rates - The more you drive your Chevy in a year the higher your rate. Most insurance companies price each vehicle's coverage based upon how much you drive. Vehicles that have low annual miles cost less to insure than cars that get driven a lot. Ask your agent if your policy correctly shows annual mileage, because it can save money. An incorrectly rated Impala may be costing you.
  • Insurance loss statistics a Chevy Impala - Insurers use data from past claims in order to profitably underwrite each model. Models that are shown to have high amounts or severity of claims will have higher rates for specific coverages.

    The data below shows the actual insurance loss data for Chevy Impala vehicles. For each type of coverage, the statistical loss for all vehicles as a whole is considered to be 100. Numbers under 100 indicate a favorable loss history, while numbers shown that are more than 100 indicate higher probability of having a loss or a tendency for claims to be larger.

    Chevrolet Impala Insurance Claim Statistics
    Specific Chevrolet Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Chevrolet Impala 104 89 135 122 122 104
    Chevrolet Impala Limited 100 115 79 142 148 153

    Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Wisconsin auto insurance company ratings

Selecting the top car insurance provider can be a challenge considering how many different insurance companies sell coverage in Wisconsin. The information below can help you decide which companies to look at purchasing from.

Top 10 Madison Car Insurance Companies Ranked by Value

  1. USAA
  2. GEICO
  3. AAA Insurance
  4. Erie Insurance
  5. Liberty Mutual
  6. State Farm
  7. Allstate
  8. Safeco Insurance
  9. Travelers
  10. 21st Century

Top 10 Madison Car Insurance Companies Ranked by Claims Service

  1. Progressive
  2. Travelers
  3. Liberty Mutual
  4. Nationwide
  5. USAA
  6. AAA Insurance
  7. Safeco Insurance
  8. GEICO
  9. Esurance
  10. The General

In Summary

We covered a lot of information how to save on Chevy Impala insurance in Madison. The key concept to understand is the more providers you compare, the better your chances of lowering your prices. You may even discover the biggest savings come from the least-expected company. Smaller companies may often insure only within specific states and give better rates as compared to the big name companies such as Allstate, GEICO and Progressive.

As you prepare to switch companies, make sure you don't buy less coverage just to save a little money. There are too many instances where an accident victim reduced physical damage coverage only to regret that they should have had better coverage. The aim is to get the best coverage possible at the best possible price.

Additional information