Who Has the Cheapest Auto Insurance Quotes for a Chevrolet Malibu in Philadelphia?

Finding economical insurance for a Chevrolet Malibu depends on many different factors such as whether you are single or married, your residence address, and violations on your driving record. Pennsylvania drivers will pay on average $1,053 a year to insure their Malibu, but that figure is a projection calculated using a 50-year-old single male driver with both comprehensive and collision coverage and $100 deductibles.

When projecting a rate like this, the problem is that you are not 50 years old and maybe not even male, married instead of single, and maybe your Malibu just needs liability-only coverage. Auto insurance is not the same for everyone, so the only real way to find cheap insurance rates for your Chevrolet is to do the rate comparisons yourself. Quotes are always free and you will receive rate quotes from some of the best companies in Pennsylvania.

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Your vehicle’s trim level tends to have a direct impact on the yearly cost, so the price you will pay to insure a Malibu LS will be $122 cheaper than the insurance cost for the high end Malibu LTZ model, as shown in the prices below.

Chevrolet Malibu Insurance Rates in Philadelphia, PA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Malibu LS $244 $528 $372 $22 $112 $1,278 $107
Malibu Hybrid $244 $528 $372 $22 $112 $1,278 $107
Malibu LT $274 $528 $372 $22 $112 $1,308 $109
Malibu LTZ $274 $620 $372 $22 $112 $1,400 $117
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Above prices assume single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Pennsylvania minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Premium amounts do not factor in garaging location in Philadelphia which can decrease or increase premiums noticeably.

Ending up with the right insurance provider can be difficult considering how many companies there are in Pennsylvania. The ranking information shown below may help you select which coverage providers you want to consider when comparing rate quotes.

The ratings below only include large, nationwide insurance companies, so companies that focus mainly on Pennsylvania business are not taken into consideration for the list. If you’d like to compare prices from these and other competitive companies, just click here.

Top 10 Major Car Insurance Companies in Philadelphia Ranked by Value

  1. The General
  2. The Hartford
  3. Titan Insurance
  4. Farmers Insurance
  5. 21st Century
  6. Safeco Insurance
  7. AAA Insurance
  8. State Farm
  9. Travelers
  10. Progressive

Insurance rates are higher with tickets and accidents

The ideal way to score low insurance prices in Pennsylvania for a Malibu is to be a safe driver and not get tickets or have accidents. The diagram below highlights how traffic violations and at-fault collisions drive up car insurance costs for each different age category. The prices are based on a single male driver, comp and collision included, $500 deductibles, and no policy discounts are applied.

The data charted above shows the average cost of an auto insurance policy per year with no accidents or violations is $1,985. Add in one speeding ticket and the average cost surges to $2,237, an increase of $252 each year. Now throw in one accident along with the one speeding ticket and the yearly cost of insurance for a Chevrolet Malibu increases to an average of $2,943. That’s an increase of $958, or $80 per month, just for not paying attention while driving!

Liability-only versus full coverage

Finding the cheapest insurance is the goal of the majority of vehicle owners, and one of the easiest ways to save on the cost of insurance for a Chevrolet Malibu is to buy liability only. The diagram below visualizes the comparison of insurance costs when comparing full coverage to liability only. The price estimates are based on no claims, a clean driving record, $500 deductibles, single status, and no discounts are applied.

If averaged for all ages, physical damage coverage costs an extra $1,838 per year over and above liability coverage. At some point, almost every driver questions if it’s a good idea to buy full coverage. There is no written rule to stop paying for full coverage, but there is a broad guideline. If the yearly cost of full coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.

For example, let’s pretend your vehicle’s replacement cost is $10,500 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would receive is $9,500 after the deductible is paid. If it’s costing in excess of $950 annually for your policy with full coverage, then it may be the right time to buy liability only.

The illustration below highlights how deductible choice can raise or lower annual premium costs when quoting cheap insurance for a Chevrolet Malibu. The rates are based on a married male driver, comp and collision included, and no discounts are applied.

As shown above, a 50-year-old driver could cut expenses by $284 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $430 by using a $1,000 deductible. Youthful drivers, like the Age 20 category, could lower their rates up to $942 each year just by using higher deductibles.

If you do decide to increase your deductibles, it is essential to have enough funds in savings to be able to cover the extra out-of-pocket expense, which is the one shortcoming of high deductibles.