Buying affordable insurance for a Chevrolet Equinox doesn't take too much effort, but it hinges on a lot of factors such as annual vehicle mileage, the performance level of your vehicle, and any prior driving offenses. Drivers pay on average $831 per year for Equinox insurance, but that cost is a projection based on a 50-year-old married male driver with full coverage and $500 deductibles.
It's highly likely you're not a 50-year-old male, maybe you are single instead of married, or maybe you need higher liability limits than the state minimum. Even a minor difference in rating factors or requested coverage amount can make a large difference in the price of a policy.
This shows why the only way to find cheap car insurance rates for your Chevrolet is to do a thorough rate comparison. In just a couple of minutes you will be able to see rates from some of the most affordable companies that insure vehicles in South Carolina.
The specific model of Equinox will influence the yearly cost, so the rate you pay to insure a Equinox LS 2WD will be $74 less expensive the price to insure the high end Equinox LTZ AWD version, as shown below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Equinox LS 2WD||$168||$304||$328||$20||$98||$918||$77|
|Equinox LT 2WD||$168||$304||$328||$20||$98||$918||$77|
|Equinox LS AWD||$168||$304||$328||$20||$98||$918||$77|
|Equinox LT AWD||$168||$304||$328||$20||$98||$918||$77|
|Equinox LTZ 2WD||$188||$358||$328||$20||$98||$992||$83|
|Equinox LTZ AWD||$188||$358||$328||$20||$98||$992||$83|
|Equinox LTZ AWD||$188||$358||$328||$20||$98||$992||$83|
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Price data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and South Carolina minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Price information does not factor in South Carolina location which can alter price quotes substantially.
Best insurance in South Carolina
Selecting the top car insurance company can be a challenge considering how many different companies there are to choose from in South Carolina. The ranking data shown next may help you select which car insurance companies to look at comparing price quotes from.
These rankings include large nationwide companies, so companies that have a smaller presence will not be included in these rankings. To compare prices from these and other top-rated companies, simply click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
The chart below shows how choosing a deductible can impact insurance premiums when searching for cheap insurance for a Chevrolet Equinox in South Carolina. The information is based on a married male driver, full physical damage coverage, and no discounts are applied to the premium.
In the chart above, a 50-year-old driver could pocket $284 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $428 by choosing a $1,000 deductible. Young drivers, like the 20-year-old, could drop their prices up to $948 or more just by using higher deductibles. When insureds make the decision to increase the deductibles on their policy, it's a good idea to have additional funds squirreled away to be able to pay the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
Discounts on South Carolina car insurance
Auto insurance companies that provide policies for a Chevrolet Equinox may also give you price discounts that could lower prices by as much as 30% if you can meet the requirements. Larger insurance companies and their offered discounts can be read below.
- Progressive may offer discounts for online signing, good student, multi-policy, continuous coverage, homeowner, online quote discount, and multi-vehicle.
- MetLife may have discounts that include defensive driver, good student, claim-free, good driver, and multi-policy.
- Mercury Insurance offers premium reductions for type of vehicle, multi-policy, accident-free, low natural disaster claims, good driver, professional/association, and age of vehicle.
- Nationwide offers discounts including family plan, defensive driving, anti-theft, accident-free, multi-policy, and good student.
- GEICO may include discounts for seat belt use, emergency military deployment, anti-theft, multi-policy, and membership and employees.
- AAA includes discounts for pay-in-full, good student, anti-theft, multi-car, and multi-policy.
The example below shows the comparison of car insurance costs with and without discounts applied to the policy rates. The costs are based on a male driver, no claims or violations, South Carolina state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with homeowner, multiple policy, accident-free, safe-driver, claim-free, and passive restraint discounts applied. When discounts are applied, the average savings per year on insurance for a Chevrolet Equinox is 28% or $473.
Liability only or full coverage
Reducing the cost of insurance is probably important to most vehicle owners, and one of the best ways to reduce the cost of insurance for a Chevrolet Equinox in South Carolina is to only buy liability insurance. The example below visualizes the comparison of car insurance costs with full coverage and liability only. The data is based on no driving violations, no at-fault accidents, $250 deductibles, drivers are not married, and no discounts are factored in.
If we average the cost for ages 20 through 70, full coverage costs $2,125 per year more than just insuring for liability. Lot's of drivers question when is the right time to remove full coverage. There is no definitive rule that works best for making the decision to drop comprehensive and collision coverage on your policy, but there is a broad guideline. If the yearly cost for physical damage coverage is more than 10% of the settlement you would receive from your company, then it's probably a good time to buy liability coverage only.