The Chevrolet Camaro is the manufacturer's dream sports car, offering the speed and agility you may want in a Sunday cruiser. While the Chevrolet Camaro may not be your typical family car, it does have the ability to seat four.
Car insurance for your Chevrolet Camaro is essential, and an independent insurance agent will help you find a policy that does an exceptional job of protecting you.
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What Kind of Insurance Do You Need for Your Chevrolet Camaro?
Being well protected makes sense, and so does having knowledge of the insurance options for your Chevrolet Camaro. Each state typically has car insurance coverages that are required to drive, while others may be optional.
Most states mandate the following coverages:
Bodily Injury Liability
If a car accident causes injury to another person, including passengers, pedestrians, or other drivers, bodily injury liability will pay for medical expenses. Bodily injury liability will even pay for lost wages if the other party has to be out of work as a result of the accident.
Property Damage Liability
Your property damage liability policy will pay the expenses to repair or replace a building, vehicle, or structure if you or someone driving your car damages another person's property. However, property damage liability will not provide coverage for your own car.
Many states require this coverage:
Medical Payments/Personal Injury Protection
Medical payments or personal injury protection (PIP) coverage pays for medical expenses that you or your passengers need when an accident occurs. PIP insurance is available in "no-fault" states and is usually required. Medical payments coverage is available in every other state.
Uninsured and Underinsured Motorist Coverage
Uninsured and underinsured motorists, aka UM/UIM, will pay for damage to your vehicle if you are involved in an accident where the other driver is not insured or does not have enough coverage. Most policies have some form of this coverage automatically, but you'll want to check with your independent insurance agent on your policy's specifics.
If you are the responsible party in a car accident, collision insurance will pay damage to another person's property on your behalf. If you forgo collision coverage, your personal finances could be at risk.
Even if you park your Chevrolet Camaro in the comfort of your garage, it can still be at risk. A natural disaster, storm, and other incidents out of your control can cause damage to your car. Comprehensive insurance will apply for these events and more.
To replace or repair your Chevrolet Camaro's windshield could cost you around $300 to $700. Instead of paying that cost on your own, you could have your windshield replaced with zero-deductible glass coverage. This policy endorsement is a minimal expense and well worth the few extra dollars.
If you are financing or leasing your Chevrolet Camaro, then you'll want to have gap coverage. Gap insurance will pay the difference between the car's value and any outstanding amount due when a total loss accident occurs. Without gap coverage, you will have to pay the difference out of pocket.
What Affects the Cost of Insurance for Your Chevrolet Camaro
Many factors go into calculating your Chevrolet Camaro's yearly premiums, and it's not only about the car. For instance, younger drivers will pay higher insurance rates because they tend to get into more accidents due to inexperience. If you are a teen Chevrolet Camaro driver, you will pay an average of $5,358 per year for insurance. The lowest average rate for full coverage per year being $845, however. Those with a spotty driving record will typically pay an average of $3,172 annually.
Average Cost of Chevrolet Insurance by Model
The year, make, and model of your Chevrolet will affect your annual premiums. The below averages assume that the driver has a cleaning motor vehicle report and is a 40-year-old male. The policies are based on a $500 comprehensive and collision deductible, UM/UIM coverage, and minimum liability limits. Rates are averaged across all 50 states.
|Average annual insurance premium for a new Chevrolet by model|
|Chevrolet Bolt EV||$1,580|
|Chevrolet Captiva Sport||$1,308|
|Chevrolet Silverado 2500HD||$1,650|
|Chevrolet Silverado 3500HD||$1,660|
|Chevrolet Tahoe Hybrid||$1,608|
The Safety of Your Chevrolet Camaro
Fortunately, Chevrolet has taken the safety of your Camaro seriously. The less likely you are to file a claim, the more discounts your insurance carrier will award you.
Forward collision warning and blind-spot warning come as an option in the 2020 Chevrolet Camaro. According to the Insurance Institute of Highway Safety, this model gets good marks and a four- and five-star rating across the board.
How Location Affects Your Chevrolet Camaro Insurance
Particular states are rated more favorably than others and can get you a lower car insurance premium depending on where you live. Insurance companies look at local crime rates, traffic patterns, and the number of claims filed.
|Average yearly auto insurance rates are the least expensive in these states:|
|Average yearly auto insurance rates are most expensive in these states:|
Average Cost to Insure a Chevrolet Camaro
On average, the annual policy premium with full coverage for a Chevrolet Camaro is $1,472. Your pricing will vary depending on where you live, how old you are, and your driving record.
Here's how Chevrolet Camaro rates change for younger vs. older drivers:
|Chevrolet Equinox rates by age for full coverage with a $500 deductible|
Top Independent Insurance Carriers That Insure the Chevrolet Camaro
Your insurance carrier is as important as the coverages you choose for your Chevrolet Camaro. Each insurance company has different ratings on how well they can make claims payments to their insureds. You'll want an insurance company that is reputable and responsive. The US Independent Insurance Agent Satisfaction Study by J.D. Power gave these companies a good recommendation:
Get a Chevrolet Camaro Quote
Reach out to a TrustedChoice.com agent today to get a quote for insurance on your Chevrolet Camaro. An independent insurance agent can shop dozens of insurance companies, providing you with the most affordable and complete auto insurance coverage.
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