Find Affordable Chevy Camaro Insurance in Cincinnati

Insurance for Chevy CamaroIt’s safe to assume that insurance companies don’t want you to compare rates. Drivers who shop around for better prices will most likely switch car insurance companies because there is a significant possibility of finding a lower-cost company. A recent car insurance study revealed that drivers who made a habit of comparing rates saved as much as $860 a year as compared to drivers who never shopped for cheaper rates.

If finding the cheapest price for Chevy Camaro insurance is your goal, then having a good understanding how to shop and compare coverage rates can help make the process easier.

The easiest way to save on Chevy Camaro insurance in Cincinnati is to start doing a yearly price comparison from insurers in Ohio.

A good tip to remember is to try to compare the same deductibles and limits on each quote request and and to get rates from all possible companies. This ensures an apples-to-apples comparison and plenty of rates choose from.

Insurance coverage analysis

The price information shown below outlines estimates of insurance premium costs for Chevy Camaro models. Learning more about how insurance prices are established can help you make informed decisions when comparing rates.

Chevrolet Camaro Insurance Rates in Cincinnati, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camaro LS $154 $318 $296 $18 $88 $874 $73
Camaro LT $154 $318 $296 $18 $88 $874 $73
Camaro SS $172 $366 $296 $18 $88 $940 $78
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Data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Rate quotes do not factor in vehicle location which can alter coverage prices considerably.

Car insurance deductibles

One common question asked by Cincinnati drivers is which deductible level should you buy. The premium rates below may help to conceptualize the differences in premium rates between high and low deductibles. The first set of rates uses a $250 deductible for comp and collision and the second set of rates uses a $500 deductible.

Chevrolet Camaro insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camaro LS $198 $348 $226 $14 $68 $879 $73
Camaro LT $198 $348 $226 $14 $68 $879 $73
Camaro SS $220 $400 $226 $14 $68 $953 $79
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Chevrolet Camaro insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camaro LS $160 $280 $226 $14 $68 $748 $62
Camaro LT $160 $280 $226 $14 $68 $748 $62
Camaro SS $180 $324 $226 $14 $68 $812 $68
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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 multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Price estimates do not factor in the specific area where the vehicle is garaged which can revise price quotes considerably.

Based on this data, using a $250 deductible costs roughly $11 more each month or $132 each year across all Chevrolet Camaro models than requesting the higher $500 deductible. Because you would be required to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you normally go more than 23 months between claim filings, you would probably save some money if you opt for a higher deductible. The illustration below shows a better example of how this determination is made.

Average monthly premium for $250 deductibles: $75
Average monthly premium for $500 deductibles (subtract): – $64
Monthly savings from raising deductible: $11
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $11
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 23 months

One thing to be aware of is that increasing deductibles to save money results in more money out-of-pocket when you file a claim. You need to have some extra savings in order to pay the higher deductible.

Careless driving habits raise car insurance rates

The chart below shows how traffic citations and accident claims impact Chevy Camaro insurance costs for different categories of driver ages. The data is based on a married male driver, full physical damage coverage, $250 deductibles, and no additional discounts are factored in.

Premiums by gender and age

The illustration below shows the difference between Chevy Camaro auto insurance costs for male and female drivers. The information is based on no tickets, no at-fault accidents, full coverage, $500 deductibles, single marital status, and no discounts are applied.

Full coverage versus liability only rates

The diagram below compares Chevy Camaro insurance premiums with liability coverage only compared to full coverage. The prices are based on no claims or driving violations, $250 deductibles, marital status is single, and no other discounts are factored in.

Should you pay for full coverage or liability only?

There is no specific rule that is best for determining when to drop physical damage coverage, but there is a general convention. If the annual cost of having full coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then you might want to think about dropping full coverage.

For example, let’s say your Chevy Camaro claim settlement value is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, you would only receive $7,000 after the policy deductible has been paid. If you are paying over $700 a year for your policy with full coverage, the it may be a good time to stop paying for full coverage.

There are some cases where eliminating full coverage is not in your best interest. If you still have a lienholder on your title, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage on your policy.

Car insurance coverage considerations

Learning about specific coverages of a car insurance policy can help you determine the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy.

Med pay and Personal Injury Protection (PIP)

Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses for things like EMT expenses, nursing services and rehabilitation expenses. The coverages can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. Coverage applies to both the driver and occupants in addition to getting struck while a pedestrian. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage

Comprehensive insurance

This will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things such as rock chips in glass, vandalism, hitting a bird, damage from flooding and damage from a tornado or hurricane. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your Chevy Camaro.

Due to the fact that many Ohio drivers only carry the minimum required liability limits (Ohio limits are 25/50/25), their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage should not be overlooked. Frequently these limits do not exceed the liability coverage limits.

Coverage for liability

This coverage will cover damages or injuries you inflict on other’s property or people by causing an accident. This coverage protects you against claims from other people, and doesn’t cover damage to your own property or vehicle.

Coverage consists of three different 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 which means $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000. Occasionally you may see one number which is a combined single limit which limits claims to one amount without having the split limit caps.

Liability insurance covers claims such as court costs, legal defense fees, medical expenses, emergency aid and structural damage. How much liability should you purchase? That is your choice, but buy higher limits if possible. Ohio requires minimum liability limits of 25/50/25 but it’s recommended drivers buy better liability coverage.

The illustration below shows why minimum state limits may not be adequate coverage.

Collision coverage

Collision insurance pays to fix your vehicle from damage resulting from colliding with an object or car. You will need to pay your deductible then your collision coverage will kick in.

Collision insurance covers claims like damaging your car on a curb, sideswiping another vehicle, crashing into a building and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. It’s also possible to raise the deductible on your Camaro in order to get cheaper collision rates.

Affordable car insurance rates are available

When you buy Cincinnati car insurance online, don’t be tempted to reduce needed coverages to save money. In many instances, consumers will sacrifice liability coverage limits and learned later that it was a big mistake. Your goal should be to purchase a proper amount of coverage at an affordable rate, but do not sacrifice coverage to save money.

Lower-priced car insurance in Cincinnati can be found online and from local insurance agents, so you should be comparing quotes from both in order to have the best price selection to choose from. Some insurance companies may not offer the ability to get a quote online and these regional carriers only sell through local independent agencies.

Drivers leave their current company for many reasons like high prices, lack of trust in their agent, policy cancellation or poor customer service. Regardless of your reason, finding a new car insurance company can be less work than you think.

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