Did budget coverage turn out to be an underperforming, overpriced car insurance policy? Believe me, there are lots of people in the same boat.
A recent NerdWallet.com study revealed that the vast majority of consumers have been with the same company for at least the last four years, and approximately 38% of consumers have never compared car insurance rates at all. The average driver in the United States could cut their rates by almost $859 a year just by shopping around, but they don't know the amount of money they would save if they bought a different policy.
Due to the increasing number of companies to choose from that have lower-cost insurance for a Chevy Tahoe in Columbia, it can be hard to choose the cheapest company.
Locating the most cost-effective auto insurance policy in Columbia is actually very simple if you learn how to start. If you have a current auto insurance policy, you will be able to get lower rates using the ideas you're about to read. But South Carolina vehicle owners do need to learn how big insurance companies determine premium rates.
To find cheaper rates, there are a couple of ways of comparing rate quotes from many available auto insurance companies in South Carolina. By far the easiest way to do a complete rate comparison is to use the internet to compare rates.
Online shopping is fast and free, and it takes the place of having to waste gas driving to different Columbia agent offices. The ability to quote Chevy Tahoe insurance online eliminates the middleman unless you require the professional assistance that only a licensed agent can provide. Although you can get the lowest quotes online and still use a local agent.
When comparison shopping, making a lot of price comparisons will improve the odds of getting better pricing. Not every company allows you to get online price quotes, so you should also compare prices from them, too.
The companies shown below provide price quotes in Columbia, SC. If multiple companies are listed, we suggest you visit several of them in order to get a fair rate comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tahoe LS 2WD||$184||$352||$358||$22||$108||$1,024||$85|
|Tahoe LS 4WD||$188||$304||$328||$20||$98||$938||$78|
|Tahoe LT 2WD||$302||$488||$352||$20||$106||$1,268||$106|
|Tahoe LT 4WD||$242||$358||$342||$20||$102||$1,064||$89|
|Tahoe LTZ 2WD||$142||$274||$320||$18||$96||$850||$71|
|Tahoe LTZ 4WD||$242||$422||$342||$20||$102||$1,128||$94|
|Get Your Own Custom Quote Go|
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and South Carolina minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Price estimates do not factor in garaging location in Columbia which can alter auto insurance rates substantially.
Men versus women drivers and insurance cost
The illustration below visualizes the comparison of Chevrolet Tahoe insurance costs for male and female drivers. The premiums are based on no driving violations, no at-fault accidents, full coverage, $500 deductibles, single marital status, and no other discounts are factored in.
Price comparison of only insuring for liability
The illustration below visualizes the comparison of Chevrolet Tahoe insurance costs with liability coverage only compared to full coverage. The prices are based on a clean driving record, no at-fault accidents, $1,000 deductibles, married female driver, and no additional discounts are factored in.
Guidelines for dropping full coverage
There is no clear-cut rule for excluding physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than about 10% of the replacement cost minus the deductible, then you may need to consider dropping full coverage.
For example, let's assume your Chevrolet Tahoe book value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $6,000 after the policy deductible has been paid. If you are currently paying more than $600 a year for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are a few cases where eliminating full coverage is not a good plan. If you still have a lienholder on your title, you have to carry full coverage to protect the lienholder's interest in the vehicle. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.
You may qualify for discounts for Chevy Tahoe insurance in Columbia
Insuring your vehicles can cost a lot, but there's a good chance there are discounts that can help lower your rates. Some discounts will apply when you quote, but a few must be asked for in order for you to get them.
- Distant College Student Discount - Kids who live away from home to go to college and do not have access to a covered vehicle could get you a discount.
- New Car Discount - Buying a new car instead of a used Tahoe may earn a small discount because newer vehicles have to meet stringent safety requirements.
- Discount for Life Insurance - Not every insurance company offers life insurance, but if they do you may earn a lower rate if you buy auto and life insurance together.
- Low Mileage Discounts - Low annual miles could qualify for lower prices due to less chance of an accident.
- Active Service Discounts - Being on active deployment in the military may qualify for rate reductions.
As is typical with insurance, most discounts do not apply to all coverage premiums. Some only reduce the price of certain insurance coverages like comp or med pay. Even though it may seem like you could get a free auto insurance policy, nobody gets a free ride. But all discounts will definitely lower the cost of your policy.
Larger auto insurance companies and some of their more popular discounts can be read below.
- Progressive may include discounts for good student, multi-policy, homeowner, online quote discount, multi-vehicle, and online signing.
- SAFECO includes discounts for teen safe driver, drive less, safe driver, bundle discounts, and anti-theft.
- American Family may offer discounts for bundled insurance, defensive driver, air bags, early bird, good driver, and mySafetyValet.
- MetLife offers discounts for good student, claim-free, defensive driver, good driver, accident-free, and multi-policy.
- GEICO has discounts for driver training, multi-policy, anti-theft, federal employee, and defensive driver.
- The Hartford may have discounts that include air bag, anti-theft, driver training, good student, defensive driver, vehicle fuel type, and bundle.
If you are trying to find low cost Columbia car insurance quotes, ask all companies you are considering which discounts can lower your rates. Some of the discounts discussed earlier might not be available to policyholders in Columbia.
Insurance agents near you
Some people still like to get professional advice from a licensed agent and doing so can bring peace of mind One of the best bonuses of comparing insurance online is that you can find lower rates and still choose a local agent.
To find an agent, once you fill out this form (opens in new window), your coverage information is immediately sent to companies in Columbia who will give you quotes for your insurance coverage. You won't need to contact an agency because prices are sent immediately to you. You'll get the best rates without a big time investment. If you wish to get a rate quote for a specific company, just visit that company's website and fill out their quote form.
Selecting a provider should depend on more than just a cheap quote. Any agent in Columbia should be forthright in answering these questions:
- Do the coverages you're quoting properly cover your vehicle?
- Are they in the agency full-time?
- How are they compensated?
- Is the agency active in community causes in Columbia?
- Can they help ensure a fair claim settlement?
- Are there any discounts that you might be missing?
Learn How to Buy Auto Insurance Cheaper
Many different elements are part of the equation when quoting car insurance. Most are fairly basic such as traffic violations, although some other factors are less apparent like where you live or how safe your car is.
- Lower rates for married couples - Your spouse may earn you lower rates on your auto insurance bill. It means you're more stable financially and statistics show drivers who are married file infrequent claims.
- Cheaper rates for prior coverage - Having a gap between insurance policy dates is a sure-fire way to increase your rates. And not only will your rates increase, the inability to provide proof of insurance might get you fines or a revoked license. You may need to prove you have insurance by filing a SR-22 with the South Carolina department of motor vehicles.
- Prevent theft and reduce premiums - Selecting a car model with anti-theft technology or alarm system can help lower your premiums. Systems that thwart thieves such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar help track and prevent your vehicle from being stolen.
- Qualify for multi-policy discounts - Some insurers apply lower prices to insureds that purchase more than one policy. It's known as a multi-policy discount. Even though this discount sounds good, it's in your best interest to check prices from other companies to confirm you are receiving the best rates possible. You may still find lower rates by insuring with multiple companies.
- Safety ratings are a factor - Vehicles with good safety scores get lower rates. Safer cars have better occupant injury protection and fewer injuries means your insurance company pays less and more competitive rates for policyholders. If your Chevy Tahoe earned at least an "acceptable" rating on the Insurance Institute for Highway Safety website you may qualify for a discount.
- Additional coverages that may be costing you - Insurance companies have many additional coverages that sound like a good idea at the time if you aren't diligent. Insurance for things like vanishing deductibles, death and dismemberment, and additional equipment coverage are probably not needed. They may seem like a good idea when buying your policy, but now you might not need them so remove them and pocket the money.
- Too many policy claims and you'll pay more - If you are the type of insured that files lots of claims you should expect either policy cancellation or increased premiums. Insurance companies in South Carolina give the lowest premiums to people who file claims infrequently. Your insurance policy is meant to be used in the event of claims that pose a financial burden.
- Chevy Tahoe claim probability - Insurers use historical loss data as a way to help calculate a profitable premium rate. Vehicles that are shown to have a trend towards higher claim severity or frequency will be charged more to insure. The table below illustrates the loss history for Chevy Tahoe vehicles.
For each policy coverage type, the claim probability for all vehicles compiled together is a value of 100. Values below 100 indicate a favorable loss history, while numbers above 100 show a trend for more claims or tendency to have higher losses.
Auto Insurance Loss Data for Chevrolet Tahoe Models
Specific Chevrolet Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Chevrolet Tahoe 4dr 2WD 82 90 105 70 63 88 Chevrolet Tahoe 4dr 4WD 83 89 103 68 62 80
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Why you need auto insurance
Even though it can be expensive, maintaining insurance may be required for several reasons.
- Almost all states have mandatory liability insurance requirements which means state laws require a specific level of liability coverage in order to be legal. In South Carolina 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.
- If you have a lien on your Tahoe, it's most likely the lender will force you to have comprehensive coverage to guarantee payment of the loan. If the policy lapses, the lender will be forced to insure your Chevy for a much higher rate and force you to reimburse them the higher price.
- Insurance protects not only your vehicle but also your assets. It will also reimburse you for many types of medical costs incurred in an accident. Liability insurance also covers all legal expenses up to the policy limit if you are sued as the result of your driving. If you have damage to your Chevy as the result of the weather or an accident, your policy will pay to repair the damage minus the deductible amount.
The benefits of having insurance more than cancel out the cost, particularly when you have a large claim. According to a survey of 1,000 drivers, the average driver is overpaying more than $700 annually so it's very important to do a rate comparison each time the policy renews to be sure current rates are still competitive.
Cheap auto insurance rates are out there
When trying to cut insurance costs, it's a bad idea to buy lower coverage limits just to save a few bucks. There have been many situations where an insured cut full coverage and discovered at claim time that it was a big mistake. The goal is to get the best coverage possible at a price you can afford, but don't skip important coverages to save money.
Discount Chevy Tahoe insurance in Columbia is definitely available both online as well as from insurance agents, and you should compare rates from both in order to have the best price selection to choose from. Some insurance providers may not have price quotes online and these small insurance companies prefer to sell through independent insurance agencies.
- Electronic Stability Control FAQ (iihs.org)
- Who Has Cheap Car Insurance for a Honda Civic in South Carolina? (FAQ)
- How Much are Auto Insurance Rates for Ride Shares in South Carolina? (FAQ)
- How Much are South Carolina Auto Insurance Quotes for a Dodge Ram? (FAQ)
- What is the Cheapest Auto Insurance in Charleston, South Carolina? (FAQ)
- Safety Tips for Teen Drivers (Insurance Information Institute)
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)
- Choosing an Insurance Company (Insurance Information Institute)