Chevy Camaro Insurance

Are You Overpaying for Chevy Camaro Insurance?

If so, here's how you can find the right coverage.

Chevy Camaro Insurance

The Camaro was first produced in 1966 to compete with the highly popular Ford Mustang. With its sleek design, sporty performance, and nimble handling, this car has been, and continues to be, one of the top-selling Chevy models. 

Whether you already have a car insurance policy or you are a first-time buyer looking for affordable coverage, a local independent insurance agent can help you find the policy that best meets your coverage and budgetary needs. 

These independent agents can work with several different insurance providers to obtain rates for policies that are customized for you.  That way, you can choose the policy that gives you the best value for your hard-earned money. Find an agent near you to learn more about your Chevy Camaro insurance options.

What Type of Insurance Do You Need for Your Chevy Camaro? 

Some types of car insurance coverage are optional, while others will require a minimum amount purchased depending on the state you live in. 

The following coverages are usually mandated:

  • Bodily injury liability: Steps in when a third party sustains injuries as a result of an accident. As the at-fault driver, you're responsible to pay for accident-related medical expenses and lost wages. Bodily injury liability will pay these costs up to your policy limits.
  • Property damage liability: Covers any property that is damaged in an accident where you or someone who is authorized is driving your vehicle. It pays to replace or repair vehicles and structures, but it will not repair or replace your vehicle. 
  • Medical payments/Personal injury protection: If you're injured in an accident, your medical payments or personal injury protection (PIP) coverage will pay some of the medical bills that are associated with the accident. 
  • Uninsured and underinsured motorist coverage: Uninsured and underinsured motorist coverage pays for damage to your vehicle if the other party does not have enough insurance coverage. 

Optional Coverage 

  • CollisionColliding with mailboxes or parked vehicles can result in serious damage to your vehicle. While your property damage coverage will pay for the mailbox or other vehicle, collision insurance is necessary if you want insurance to pay for your vehicle. 
  • ComprehensiveEven if you're not driving your Chevy Camaro, it's still at risk. What if a storm damages your roof? Or your vehicle catches on fire? For incidents that are out of your control and aren't covered under collision, there's comprehensive coverage.
  • Glass coverageMost windshield replacements are not worth going through your insurance, but can still cost several hundred dollars. Glass coverage is an endorsement that's inexpensive at only a few extra dollars a year.
  • Gap insuranceIf you are financing or leasing your Chevy Camaro, then you will want to consider purchasing gap coverage. This insurance is an endorsement that you add to your policy that pays the difference between your car's value and the amount owed to the financing company if you're involved in a total loss accident. 

What Factors Affect the Cost of Insurance for Your Chevy Camaro?

Annual Mileage

The average American drives between 10,000 and 15,000 miles per year. Being above or below this number can impact the cost of your premium.

Driving Record 

Clean records correlate with lower insurance premiums. Even one violation can negatively impact your rates. An independent insurance agent can advise you on when any previous accidents or traffic violations will fall off and stop affecting your rates.

The Value of Your Car 

A brand-new Chevy Camaro ranges from $25,000 to $69,000. That's a big price gap based on the trim model, which means your insurance premiums will follow suit. If you're willing to purchase an older model, it could save you a few bucks on insurance. 

Average 2020 Chevy Camaro
2020 $25,000 - $69,000
2019 $24,475 - $61,700
2018 $22,700 - $55,175
2017 $20,950 - $49,475
2016 $21,425 - $30,050

The Safety of Your Chevy Camaro

The Chevy Camaro is in a class of vehicles referred to as “pony cars.” These are muscle cars that are on the smaller side and similar in style and performance to the Ford Mustang, the original pony car. Basically, all pony cars are muscle cars, but not all muscle cars are pony cars. Fortunately, the Camaro is a surprisingly safe car. In fact, the Chevy Camaro is considered the safest vehicle in the muscle car category. The vehicle received "good" ratings in crash tests by the Insurance Institute for Highway Safety (IIHS) and five-out-of-five stars in all rollover and side crash tests by the National Highway Traffic Safety Administration (NHTSA). It ranked four-out-of-five in all other crash tests.

Where You Live with Your Chevy Camaro

If you live in a populated city, you're more prone to incidents that will lead to a claim. The Camaro is the single most stolen vehicle in the pony car or muscle car classification, making up about 40% of all performance cars stolen in recent years. Increased risks like this and driving on busier roads, encountering traffic, and vandalism can cause insurance premiums to increase.

Average Cost to Insure a Chevy Camaro

The average annual cost to insure a Chevy Camaro is $1,472, making it a relatively affordable sports car to insure. Those costs could go up or down depending on whether you're a high-risk driver or are willing to take a higher deductible. 

What Is the Average Cost to Insure a Chevy Camaro?

Average Annual Cost to Insure a Chevy Camaro  $1,472
Teens $5,358
High-Risk Drivers $3,172
High Deductibles $1,260
Low Deductibles $1,888

Which States Are Most and Least Affordable for Car Insurance? 

Estimated annual Chevy Camaro insurance premiums in the United States:

Most Expensive States:
Florida $1,844
Rhode Island $1,966
Kentucky $2,010
Louisiana $2,182
Michigan $2,560
Most Affordable States:
North Carolina $848
Virginia  $848
Maine $910
Idaho $996
Iowa $996

Top Insurance Carriers That Insure the Chevy Camaro

According to a recent U.S. Independent Insurance Agent Satisfaction Study by J.D. Power, the following companies provide excellent service to their insurance customers: 

  1. Wawanesa
  2. Auto-Owners Insurance
  3. State Farm
  4. Ameriprise
  5. Geico
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How to Find the Best Chevy Camaro Insurance

When you are shopping for the best insurance policy to cover your Chevy Camaro, you can benefit from working with a Trusted Choice agent. 

These independent agents can make it easy to compare rates for policies that have been customized to meet your specific needs. That way, you can be sure that you are not overpaying for your coverage. Find an agent near you to learn more and get started.

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