2014 Chevrolet Volt Car Insurance Cost – 7 Tips for Cheaper Prices

Looking for cheaper insurance rates for your Chevrolet Volt? Nobody I know looks forward to buying insurance, especially when they are paying too much. With so many companies and agents to choose from, it can be impossible to locate the most affordable car insurance company.

How much can you save with these seven discounts?

Car insurance companies don’t always list every discount very clearly, so here is a list some of the best known and the harder-to-find ways to save on insurance. If you’re not getting every credit available, you are paying more than you should be.

  • Pay Upfront and Save – If you pay your entire premium ahead of time instead of making monthly payments you can actually save on your bill.
  • Anti-theft System – Cars that have factory anti-theft systems help deter theft and therefore earn up to a 10% discount.
  • Government Employees – Simply working for the federal government may qualify you for a discount for Volt insurance depending on your company.
  • Passive Restraints and Air Bags – Vehicles equipped with air bags can get savings of more than 20%.
  • Service Members Pay Less – Having a deployed family member can result in better rates.
  • Organization Discounts – Participating in a civic or occupational organization could trigger savings on your policy for Volt insurance.
  • Discount for Life Insurance – Larger companies have a discount if you purchase life insurance.

A little note about advertised discounts, most discount credits are not given to the entire policy premium. Some only apply to the cost of specific coverages such as collision or personal injury protection. Just because it seems like all the discounts add up to a free policy, it doesn’t quite work that way.

Car insurance companies that possibly offer these money-saving discounts include:

Double check with each company which discounts they offer. Discounts may not apply in your area.

Buyer beware of insurance coverage advertising tricks

Consumers get pounded daily by advertisements for car insurance savings by Progressive, GEICO, Allstate and State Farm. All the ads have a common claim about savings if you change to their company.

How can each company claim to save you money?

Different companies have a preferred profile for the type of customer that makes them money. An example of a desirable insured might be between 30 and 50, has no prior claims, and drives less than 10,000 miles a year. Any driver who meets those qualifications will get very good rates and therefore will save when switching.

Potential customers who don’t qualify for this ideal profile will have to pay a more expensive rate and ends up with business not being written. The ad wording is “customers that switch” not “people who quote” save that kind of money. This is how companies can make those claims. Because of the profiling, drivers should quote coverage with many companies. It’s just too difficult to predict the company that will give you the biggest savings on Chevy Volt insurance.

How much car insurance do I need?

When it comes to choosing adequate coverage for your vehicles, there really is not a single plan that fits everyone. Everyone’s situation is a little different and your policy should reflect that. These are some specific questions can help discover whether your personal situation would benefit from an agent’s advice.

  • Is my Chevy Volt covered if I use it for business?
  • Is other people’s property covered if stolen from my vehicle?
  • Is a blown tire covered by insurance?
  • Does my insurance cover damage caused when ticketed for reckless driving?
  • Should I put collision coverage on all my vehicles?
  • Can my teen drive my company car?

If you can’t answer these questions but a few of them apply, you may need to chat with an insurance agent. To find an agent in your area, fill out this quick form or go to this page to view a list of companies. It is quick, free and may give you better protection.

Car insurance coverages for a Chevy Volt

Having a good grasp of car insurance aids in choosing the right coverages and proper limits and deductibles. The terms used in a policy can be difficult to understand and coverage can change by endorsement. Below you’ll find typical coverage types found on the average car insurance policy.

Liability

This provides protection from damage or injury you incur to other people or property that is your fault. Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have liability limits of 100/300/100 which means $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property.

Liability insurance covers claims like bail bonds, pain and suffering and structural damage. How much coverage you buy is a decision to put some thought into, but it’s cheap coverage so purchase as much as you can afford.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP kick in for short-term medical expenses for things like funeral costs, ambulance fees, rehabilitation expenses, hospital visits and X-ray expenses. They can be used in conjunction with a health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP coverage is not available in all states and may carry a deductible

Comprehensive insurance

Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims like theft, falling objects, hail damage and fire damage. The highest amount your car insurance company will pay is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” are uninsured or don’t have enough coverage. This coverage pays for hospital bills for your injuries and damage to your Chevy Volt.

Since a lot of drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family.

Collision coverage protection

This coverage pays for damage to your Volt caused by collision with another car or object. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for claims like colliding with a tree, crashing into a ditch, hitting a mailbox, backing into a parked car and rolling your car. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. It’s also possible to bump up the deductible to save money on collision insurance.

Compare but don’t skimp

You just read many ways to save on 2014 Chevy Volt insurance. The most important thing to understand is the more quotes you get, the higher your chance of finding lower rates. You may be surprised to find that the best prices are with a small mutual company. Some small companies may have significantly lower rates on certain market segments as compared to the big name companies such as State Farm and Allstate.

Cheaper insurance is available both online in addition to many insurance agents, and you need to comparison shop both to have the best selection. A few companies do not provide online price quotes and usually these small, regional companies provide coverage only through local independent agents.

When shopping online for insurance coverage, it’s a bad idea to skimp on critical coverages to save a buck or two. There are too many instances where an insured cut collision coverage and discovered at claim time they didn’t have enough coverage. The ultimate goal is to buy a smart amount of coverage at a price you can afford while not skimping on critical coverages.

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