Save Money on Chevy Camaro Insurance in El Paso

Insurance rates Chevy Camaro in El PasoIt takes a little time, but the best way to get budget car insurance rates in El Paso is to start doing a yearly price comparison from insurance carriers who can sell car insurance in Texas. This can be done by completing these steps.

Step 1: Learn about how companies price auto insurance and the measures you can control to keep rates low. Many rating factors that cause high rates like traffic violations and a poor credit score can be amended by improving your driving habits or financial responsibility.

Step 2: Request price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give rate quotes from a single company like Progressive or State Farm, while independent agencies can quote prices from multiple companies. Click to view companies

Step 3: Compare the quotes to your current policy premium and see if there is a cheaper rate in El Paso. If you find a better price, make sure coverage is continuous and does not lapse.

One bit of advice is to compare similar coverage information on each quote and to quote with as many companies as possible. Doing this guarantees an apples-to-apples comparison and plenty of rates choose from.

It’s amazing but a large majority of insurance policyholders in Texas renewed their policy with the same company for over three years, and nearly 40% of drivers have never compared rate quotes at all. Consumers in America could pocket about $850 a year, but they underestimate the amount of money they would save if they swap their current policy for a cheaper one.

Coverage information

The rate table displayed next covers a range of insurance costs for Chevy Camaro models. Having a better idea how auto insurance policy rates are figured can benefit drivers when making smart choices when comparing insurance rates.

Chevrolet Camaro Insurance Rates in El Paso, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camaro LS $318 $718 $430 $26 $128 $1,620 $135
Camaro LT $318 $718 $430 $26 $128 $1,620 $135
Camaro SS $354 $828 $430 $26 $128 $1,766 $147
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Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Information does not factor in specific location information which can decrease or increase premium rates considerably.

Insurance deductibles

One of the hardest decisions when shopping for insurance is which deductible level should you buy. The rates below help summarize how much more rates are when you choose different policy deductibles. The first table uses a $250 physical damage deductible and the second price chart uses a $1,000 deductible.

Chevrolet Camaro insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camaro LS $332 $584 $382 $22 $114 $1,459 $122
Camaro LT $332 $584 $382 $22 $114 $1,459 $122
Camaro SS $370 $672 $382 $22 $114 $1,585 $132
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Chevrolet Camaro insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camaro LS $206 $368 $382 $22 $114 $1,092 $91
Camaro LT $206 $368 $382 $22 $114 $1,092 $91
Camaro SS $228 $424 $382 $22 $114 $1,170 $98
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Prices do not factor in garaging location in El Paso which can lower or raise price quotes considerably.

Based on the figures above, using a $250 deductible costs an average of $32 more each month or $384 a year averaged for all Camaro models than opting for the higher $1,000 deductible. Because you would pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to have more than 23 months between claims, you would save more money if you choose the higher deductible. The illustration below shows a better example of how this decision is made.

Average monthly premium for $250 deductibles: $125
Average monthly premium for $1,000 deductibles (subtract): – $93
Monthly savings from raising deductible: $32
Difference between deductibles ($1,000 – $250): $750
Divide difference by monthly savings: $750 / $32
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 23 months

One important caveat is that raising deductibles to save money results in a higher out-of-pocket expense when you do file a claim. That will require some savings in order to pay the deductible.

Should you buy full coverage?

The example below illustrates the difference between Chevy Camaro insurance costs with full physical damage coverage compared to only buying liability only. The premiums assume a clean driving record, no at-fault accidents, $500 deductibles, drivers are not married, and no discounts are factored in.

Deciding between full coverage and liability only

There is no clear-cut formula that is best for determining when to drop physical damage coverage, but there is a general guideline. If the annual cost of having full coverage is more than around 10% of any settlement you would receive from your insurance company, then it might be time to buy liability only.

For example, let’s assume your Chevy Camaro book value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $4,000 after the deductible is paid. If premiums are more than $400 a year to have full coverage, then you may need to consider dropping full coverage.

There are some conditions where dropping full coverage is not a good plan. If you haven’t paid off your loan, you must maintain physical damage coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should not eliminate full coverage.

El Paso Insurance Costs are Influenced by These Factors

Many factors are part of the equation when you quote your car insurance policy. Some are obvious like a motor vehicle report, although others are less apparent such as your credit history or how financially stable you are.

The factors shown below are some of the major factors used by your company to calculate rates.

Ratings for Texas auto insurance companies

Choosing the top company can be a challenge considering how many different companies insure vehicles in Texas. The rank data shown below may help you choose which companies to look at purchasing coverage from.

Top 10 El Paso Car Insurance Companies by A.M. Best Rank

  1. Travelers – A++
  2. USAA – A++
  3. GEICO – A++
  4. State Farm – A++
  5. Titan Insurance – A+
  6. Esurance – A+
  7. Progressive – A+
  8. The Hartford – A+
  9. Allstate – A+
  10. Nationwide – A+

Top 10 El Paso Car Insurance Companies Ranked by Value

  1. Mercury Insurance
  2. Travelers
  3. American Family
  4. AAA Insurance
  5. Safeco Insurance
  6. Progressive
  7. The Hartford
  8. The General
  9. 21st Century
  10. Esurance

Persistence will pay off

We just showed you many ideas to shop for Chevy Camaro insurance online. It’s most important to understand that the more rate comparisons you have, the better your chances of lowering your rates. Consumers may even find the most savings is with a smaller regional carrier. They can often insure niche markets at a lower cost compared to the large companies like Progressive and GEICO.

Some insurance providers do not offer the ability to get a quote online and many times these small insurance companies sell through local independent agencies. Lower-priced Chevy Camaro insurance in El Paso can be found from both online companies and with local El Paso insurance agents, so you should compare both to have the best rate selection.

Additional car insurance information can be found at the links below