Save on 2002 Chevrolet Camaro Insurance Cost

Looking for cheaper insurance coverage rates for your Chevrolet Camaro? I really doubt anyone loves paying for insurance coverage, especially when they know the cost is way too high. Many car insurance companies compete for your hard-earned dollar, so it’s not easy to compare every company and uncover the absolute best rates possible.

You should take the time to quote other rates as often as possible because prices trend upward over time. Even if you think you had the lowest rates on Camaro coverage last year there may be better deals available now. Forget all the misinformation about insurance coverage because I’m going to teach you how to use the internet to save on insurance coverage.

Don’t miss these discounts

Car insurance companies do not list all their discounts very well, so the list below gives a summary of both well-publicized as well as the least known discounts that may be available.

  • Theft Deterent System – Cars and trucks equipped with tracking devices and advanced anti-theft systems can help prevent theft and qualify for as much as a 10% discount.
  • Passenger Safety Discount – Options like air bags or motorized seat belts can get savings of 20% or more.
  • Sign Early and Save – Some insurance companies reward drivers for renewing your policy prior to the expiration date on your current policy. Ten percent is about the average savings.
  • Fewer Miles Equal More Savings – Low annual miles could qualify for discounted premium rates on garaged vehicles.
  • Student Discounts – Maintaining excellent grades can get you a discount of up to 25%. The discount lasts up until you turn 25.
  • Driver’s Education for Students – Reduce the cost of insurance for teen drivers by having them complete a driver education course if it’s offered in school.
  • Pay Upfront and Save – By paying your policy upfront rather than paying monthly you can avoid the installment charge.
  • Good Driver Discounts – Safe drivers may save up to 50% more on Camaro coverage compared to rates paid by drivers with frequent claims.

It’s important to note that many deductions do not apply to the entire policy premium. Most cut the cost of specific coverages such as comprehensive or collision. So even though it sounds like it’s possible to get free car insurance, it doesn’t quite work that way.

Larger insurance companies and some of the discounts are outlined below.

  • Progressive may include discounts for multi-policy, good student, homeowner, online signing, online quote discount, continuous coverage, and multi-vehicle.
  • Farmers Insurance has discounts for alternative fuel, multi-car, electronic funds transfer, distant student, early shopping, and teen driver.
  • Farm Bureau policyholders can earn discounts including youthful driver, multi-policy, good student, safe driver, 55 and retired, multi-vehicle, and renewal discount.
  • State Farm offers discounts for passive restraint, Drive Safe & Save, accident-free, safe vehicle, good student, and multiple autos.
  • GEICO discounts include anti-lock brakes, federal employee, air bags, multi-vehicle, military active duty, and daytime running lights.
  • SAFECO offers discounts including anti-theft, anti-lock brakes, drive less, multi-car, and teen safe driver.
  • Liberty Mutual may offer discounts for safety features, newly retired, preferred payment discount, good student, new move discount, exclusive group savings, and multi-car.

Double check with each insurance company the best way to save money. Some of the discounts discussed earlier might not be offered on policies in your area.

The most recommended method to compare rate quotes is to take advantage of the fact almost all companies allow for online access to give rate comparisons. To start a quote, the only thing you need to do is provide details including your occupation, driver details, if it has an alarm system, and how much coverage you want. Your rating data is then submitted to many highly-rated insurers and they respond with quotes instantly to find the best rate.

Informed consumers can lower their insurance rates

One of the most helpful ways to save on auto insurance is to to have a grasp of some of the factors that are used to determine your policy premiums. When consumers understand what controls the rates you pay, this enables informed choices that will entitle you to lower auto insurance prices.

Listed below are a partial list of the pieces that factor into premiums.

  • Long commutes cost more – The more you drive in a year’s time the higher your rates will be. Almost all companies calculate rates based on how the vehicle is used. Cars and trucks used primarily for pleasure use cost less to insure than vehicles that are driven to work every day. It’s a good idea to make sure your auto insurance coverage shows the correct driver usage. Having an incorrect usage rating on your Camaro is throwing money out the window.
  • Better rates on vehicles with better crash test results – Safe vehicles tend to have better insurance rates. Safe vehicles reduce injuries and reduced instances of injuries translates into fewer and smaller insurance claims and more competitive rates for policyholders.
  • Men tend to take more risk – Statistics show women tend to be less risk to insure than men. It does not mean females are better drivers. They both tend to get into accidents in similar percentages, but the male of the species have accidents that have higher claims. Men also tend to get cited for more serious violations such as DWI and reckless driving.
  • Youthful drivers pay more – Older insureds tend to be more responsible, cost insurance companies less in claims and receive fewer citations.Teenage drivers are known to be careless and easily distracted with other occupants in the car so auto insurance rates are higher.
  • Single drivers take more risk – Having a spouse may cut your premiums when shopping for auto insurance. Having a significant other may mean you are less irresponsible it has been statistically shown that married couples file fewer claims.
  • Theft deterrents save – Driving a car with anti-theft technology or alarm system can save you some money. Advanced theft deterrents like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all help stop your vehicle from being stolen.
  • Multiple policies with one company – Some insurance companies afford discounts to policyholders who consolidate policies with them in the form of a multi-policy discount. Discounts can be five, ten or even twenty percent. Even with this discount, you may still want to shop around to help guarantee you have the best rates. Drivers may still save more without the discount by buying insurance from more than one company.
  • Where you call home factors in – Living in a rural area has it’s advantages when trying to find low car insurance rates. Less people living in that area means a lower chance of having an accident as well as less vandalism and auto theft. City drivers have to deal with traffic congestion and longer commute times. More time on the road means a statistically higher chance of an accident.

Special considerations

When buying adequate coverage for your personal vehicles, there isn’t really a cookie cutter policy. Everyone’s situation is a little different and a cookie cutter policy won’t apply. For example, these questions might help in determining if you will benefit from professional help.

  • I have a DUI can I still get coverage?
  • Do I really need UM/UIM coverage?
  • Does coverage extend to a rental car in a foreign country?
  • How much liability coverage do I need in my state?
  • Am I covered when driving on a suspended license?
  • When should I buy a commercial auto policy?
  • What is the ISO rating for a 2002 Chevy Camaro?
  • What should my uninsured motorist coverage limits be in my state?
  • Is a fancy paint job covered?

If you don’t know the answers to these questions, then you may want to think about talking to an insurance agent. To find an agent in your area, take a second and complete this form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and may give you better protection.

Insurance coverage companies are expert advertisers

Consumers can’t get away from all the ads that claim the lowest car insurance rates by Allstate, GEICO and Progressive. They all seem to state the claim that drivers can save some big amount after switching your policy.

How does each company sell you cheaper insurance coverage? This is the way they can do it.

Most companies have a certain “appetite” for the right customer that earns them the most money. An example of this type of risk profile might be between the ages of 30 and 50, insures multiple vehicles, and drives less than 10,000 miles a year. Someone who meets those qualifications will probably get the lowest rates and is almost guaranteed to save a lot of money.

Insureds who fall outside the “perfect” profile will probably be forced to pay more expensive rates and ends up with the customer not buying. Company advertisements say “customers that switch” not “everyone who quotes” save that much when switching. That’s why insurance companies can confidently state the savings.

Because every company is different, it is so important to get car insurance quotes as often as possible. Because without a comparison, you cannot know which insurance coverage company will give you the biggest savings.

Insurance coverage options for a 2002 Chevy Camaro

Understanding the coverages of your insurance policy helps when choosing appropriate coverage and proper limits and deductibles. Policy terminology can be difficult to understand and coverage can change by endorsement. These are the usual coverages offered by insurance companies.

Comprehensive protection

Comprehensive insurance will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive can pay for claims like hail damage, a broken windshield, a tree branch falling on your vehicle and damage from flooding. The maximum amount your insurance company will pay is the actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Medical expense coverage

Coverage for medical payments and/or PIP pay for bills like rehabilitation expenses, hospital visits and surgery. They are used to fill the gap from your health insurance plan or if you do not have health coverage. It covers all vehicle occupants in addition to any family member struck as a pedestrian. PIP is not available in all states and gives slightly broader coverage than med pay

Collision coverage

This pays for damage to your Camaro resulting from colliding with an object or car. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims such as hitting a mailbox, damaging your car on a curb and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. Another option is to raise the deductible to save money on collision insurance.

Coverage for liability

This coverage can cover damages or injuries you inflict on other people or property. It protects you from legal claims by others, and doesn’t cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. As an example, you may have liability limits of 100/300/100 that translate to a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and a total limit of $100,000 for damage to vehicles and property. Some companies may use a combined limit which combines the three limits into one amount with no separate limits for injury or property damage.

Liability coverage pays for claims like structural damage, court costs, bail bonds and medical services. How much coverage you buy is up to you, but buy as large an amount as possible.

Uninsured or underinsured coverage

Your UM/UIM coverage provides protection from other motorists when they either have no liability insurance or not enough. Covered claims include injuries to you and your family and also any damage incurred to your Chevy Camaro.

Due to the fact that many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Frequently the UM/UIM limits are identical to your policy’s liability coverage.

Don’t throw your cash in the trash

Throughout this article, we presented quite a bit of information on how to lower your 2002 Chevy Camaro insurance rates. It’s most important to understand that the more companies you get car insurance rates for, the better your chances of lowering your car insurance rates. You may even find the biggest savings come from the smaller companies. Some small companies may only write in your state and offer lower car insurance rates than their larger competitors like GEICO and State Farm.

When buying insurance coverage, it’s a bad idea to sacrifice coverage to reduce premiums. Too many times, consumers will sacrifice uninsured motorist or liability limits and learned later that their decision to reduce coverage ended up costing them more. The goal is to find the BEST coverage at the best possible price and still be able to protect your assets.

Additional information