2002 Chevrolet Tahoe Car Insurance Cost

Looking for the cheapest auto insurance rates for your Chevrolet Tahoe? Are you sick and tired of robbing Peter to pay Paul to buy car insurance? You are in the same boat as many other drivers. Drivers have so many insurance companies to pick from, and even though it’s nice to have multiple companies, lots of choices makes it harder to compare rates.

Consumers should take time to get comparison quotes every six months because insurance rates are variable and change quite frequently. Just because you found the lowest rates on Tahoe insurance a couple years back you can probably find a better price now. You’ll find quite a bit of inaccurate information about auto insurance on the internet, so by reading this article, you’re going to learn some solid techniques on how to slash your auto insurance rates.

How much can you save with discounts?

Companies that sell car insurance don’t always publicize all available discounts very well, so the following is a list of some of the more common and the harder-to-find discounts you could be receiving. If you don’t get every credit you qualify for, you’re just leaving money on the table.

  • Auto/Home Discount – When you combine your home and auto insurance with one insurance company you may save 10% to 20% off each policy.
  • Drivers Ed for Students – Have your child complete a driver education course in school.
  • Discount for Life Insurance – Companies who offer life insurance give lower rates if you buy life insurance from them.
  • Safe Driver Discount – Insureds without accidents can pay as much as 50% less on Tahoe insurance than drivers with accidents.
  • Multi-car Discount – Insuring more than one vehicle on one policy may reduce the rate for each vehicle.

Consumers should know that most discounts do not apply to the entire policy premium. Some only reduce the price of certain insurance coverages like comp or med pay. So even though they make it sound like you would end up receiving a 100% discount, it doesn’t quite work that way.

Insurance companies that may offer some of the above discounts include:

Before buying, ask each insurance company which discounts you may be entitled to. All car insurance discounts may not apply in your area.

These factors can influence what you pay for Chevy Tahoe insurance

Smart consumers have a good feel for some of the elements that play a part in calculating the rates you pay for insurance. Having a good understanding of what impacts premium levels enables informed choices that could result in much lower annual insurance costs.

Shown below are some of the factors insurance companies consider when setting premiums.

  • Do you qualify for a multi-policy discount? – Some insurance companies provide better rates to customers who have multiple policies with them, otherwise known as a multi-policy discount. Even though this discount sounds good, it’s still a good idea to comparison shop to confirm you are receiving the best rates possible. Drivers may still find better rates by buying insurance from more than one company.
  • Drive a safer car and pay less – Vehicles with good safety scores get lower rates. These vehicles have better occupant injury protection and fewer injuries translates into savings for insurance companies and thus lower rates. If your Chevy Tahoe has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it is probably cheaper to insure.
  • High credit ratings translate to low rates – Having a bad credit history is a important factor in determining what you pay for insurance. If your credit rating is not that good, you could pay less to insure your 2002 Chevrolet Tahoe by improving your rating. Drivers who have high credit scores tend to be better drivers and file fewer claims than those with lower credit scores.
  • Bad driving skills means higher rates – Drivers with clean records receive lower rates than bad drivers. Just one moving violation may increase your cost twenty percent or more. Drivers who get serious violations like hit and run, DWI or reckless driving convictions may be required to submit a SR-22 form to the state department of motor vehicles in order to continue driving.
  • Men are more aggressive – The statistics show women are more cautious behind the wheel. However, this does not mean men are worse drivers. Men and women are in accidents at about the same rate, but the men have costlier accidents. Men also statistically receive more costly citations like reckless driving and DUI. Male drivers age 16 to 19 are the most expensive to insure and therefore have the most expensive insurance rates.
  • Being married is a good thing – Having a spouse actually saves money on your insurance policy. Having a significant other is viewed as being more mature and responsible it has been statistically shown that married drivers get in fewer accidents.
  • Pleasure use saves money – The more you drive in a year’s time the more you will pay for insurance. Most insurance companies charge to insure your cars based on their usage. Vehicles used primarily for pleasure use can get a lower rate as compared to vehicles used primarily for driving to work. If your policy improperly rates your Tahoe can result in significantly higher rates. Double check that your insurance policy is showing the correct driver usage, because it can save money.
  • Little extras can really add up – There are a lot of additional coverages you can purchase on your insurance policy. Insurance for vanishing deductibles, better glass coverage and additional equipment coverage may be costing you every month. They may seem like a good idea at first, but now you might not need them so eliminate the coverages to reduce your premium.

How much car insurance do I need?

When it comes to buying adequate coverage, there isn’t really a single plan that fits everyone. Everyone’s needs are different and your policy should reflect that. Here are some questions about coverages that could help you determine if you may require specific advice.

  • Are my tools covered if they get stolen from my vehicle?
  • Is a blown tire covered by insurance?
  • How do I buy GAP insurance?
  • How can I get my company to pay me more for my totalled car?
  • Am I insured when driving a different vehicle?
  • What is the rate difference between pleasure use and commuting?
  • Am I covered if I drive in a foreign country?
  • Should I buy additional glass protection?
  • Am I covered when driving on a suspended license?
  • Should I put collision coverage on all my vehicles?

If you’re not sure about those questions, you might consider talking to a licensed insurance agent. To find an agent in your area, fill out this quick form or you can go here for a list of companies in your area. It only takes a few minutes and you can get the answers you need.

Auto insurance ads bend the truth

Drivers can’t ignore all the ads for cheaper car insurance by companies like Allstate and Progressive. All the ads make an identical promise of big savings after switching to them.

How does each company say the same thing? This is how they do it.

All companies have a certain “appetite” for the type of driver that earns them a profit. A good example of a profitable customer could possibly be between the ages of 40 and 55, is a homeowner, and has excellent credit. Any new insured who matches those parameters will qualify for the lowest rates and is almost guaranteed to save when they switch companies.

Drivers who fall outside the requirements must pay higher premiums which usually ends up with the customer not buying. The ads state “people who switch” not “people who quote” save that much. That’s the way companies can truthfully advertise the savings. This illustrates why you should compare many company’s rates. It is impossible to predict which insurance companies will fit your personal profile best.

Insurance coverages and their meanings

Knowing the specifics of your insurance policy can be of help when determining appropriate coverage and proper limits and deductibles. Insurance terms can be confusing and reading a policy is terribly boring. Listed below are typical coverages available from insurance companies.

Auto collision coverage

This coverage pays for damage to your Tahoe resulting from a collision with another car or object. A deductible applies and then insurance will cover the remainder.

Collision can pay for things such as hitting a mailbox, damaging your car on a curb, hitting a parking meter and sustaining damage from a pot hole. This coverage can be expensive, so consider dropping it from lower value vehicles. It’s also possible to increase the deductible to bring the cost down.

Liability coverage

Liability coverage provides protection from damage or injury you incur to other people or property. This insurance protects YOU from legal claims by others. It does not cover your own vehicle damage or injuries.

Liability coverage has three 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 100/300/100 which stand for $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property.

Liability coverage pays for claims like loss of income, medical expenses, repair bills for other people’s vehicles, legal defense fees and court costs. How much coverage you buy is a personal decision, but you should buy as much as you can afford.

Comprehensive insurance

Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims such as falling objects, theft, a broken windshield, damage from flooding and vandalism. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP provide coverage for short-term medical expenses like EMT expenses, X-ray expenses, surgery, pain medications and rehabilitation expenses. The coverages can be utilized in addition to your health insurance policy or if you are not covered by health insurance. They cover not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. PIP is not available in all states but can be used in place of medical payments coverage

Uninsured/Underinsured Motorist (UM/UIM)

This coverage protects you and your vehicle from other motorists when they either have no liability insurance or not enough. Covered claims include hospital bills for your injuries and also any damage incurred to your Chevy Tahoe.

Since many drivers have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked.

And the best car insurance company is…

We just presented many ways to reduce 2002 Chevy Tahoe insurance prices online. It’s most important to understand that the more price quotes you have, the higher your chance of finding lower rates. You may even discover the most savings is with some of the smallest insurance companies. Some small companies may have significantly lower rates on certain market segments than the large multi-state companies such as Geico and State Farm.

Cheap insurance is available on the web as well as from independent agents, so you should be comparing quotes from both to have the best chance of lowering rates. Some companies don’t offer the ability to get a quote online and many times these small insurance companies only sell through independent insurance agents.

When buying insurance coverage, you should never reduce needed coverages to save money. In too many instances, drivers have reduced physical damage coverage only to regret at claim time that it was a big mistake. Your strategy should be to find the BEST coverage for the lowest price while still protecting your assets.

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