Chevy Cobalt Insurance
(And how you can easily get started today)
Chevrolet introduced its compact car, the Cobalt, in 2004, and produced these cars from the 2005 through 2010 model years. Available as a coupe or a sedan, this budget-friendly car replaced Chevy’s Cavalier and Prizm models.
Today, these inexpensive and relatively safe cars are an affordable option for teenage drivers and for use as “beater cars,” though some owners find them to be perfectly acceptable vehicles as their primary car.
Regardless of how you use it, if you own a Chevy Cobalt, it will need to be covered with a car insurance policy that meets or exceeds your state’s minimum coverage requirements. Whether you already have a car insurance policy or you are in the market to purchase your first, a local independent agent can help you find savings.
What Kind of Insurance Do You Need for Your Chevy Cobalt?
Insuring an older vehicle is a little different than a brand new vehicle. Compact cars like the Cobalt have advantages and disadvantages when it comes to insurance coverage.
Most states mandate the following coverage:
Bodily injury liability: This pays the other driver for any medical costs and lost wages that may result from an accident where you're at fault.
Property damage liability: If you cause damage to someone else's property, property damage liability reimburses the property owner. This includes everything from running into someone's fence to their vehicle.
Because these cars are smaller and lighter than most vehicles on the road, they typically do not result in as much property damage or as many significant injuries to others if you are responsible for an accident. This can lower your liability coverage costs.
Many states also require this coverage:
Medical payments/Personal injury protection: This coverage pays for medical treatment and lost wages for you and your passengers if you're in an accident. It doesn't matter if you were at fault or not. Fifteen states currently mandate that you have proper medical payment or PIP coverage as a driver. These states are:
- Maryland (unless a waiver is signed at initial purchase of the policy)
- New Jersey
- New York
- North Dakota
Uninsured motorist coverage: Uninsured and underinsured motorist coverage pays for damage to your vehicle if the other party doesn't have enough insurance coverage. Even in states where coverage is mandatory, there are countless claims of this type.
Collision insurance: If you don't have collision insurance and you collide with someone's vehicle or property, you'll be paying out of pocket. This coverage pays for the costs so you don't have to. The difference between collision and property damage is that collision pays for repairs to your vehicle, while property damage pays for any third-party property that is damaged.
Comprehensive insurance: Unfortunately, your Chevy Cobalt is at risk of a variety of other incidents. From vandalism and theft to unexpected damage from wild animals or Mother Nature, comprehensive coverage pays for everything that isn't covered under your collision policy.
Because the Cobalt is a used car, many owners do not find it advantageous to purchase collision or comprehensive coverage with their policy packages. If you can reasonably afford to replace your car, it might be more cost-effective to forgo this coverage. If you do decide to purchase it, you will find this optional coverage less expensive than it is when purchased for a newer car.
Glass coverage: Rock chips and cracks can be dangerous to drive with. Glass coverage is a no-deductible and affordable addition to your policy that pays to replace or repair any of your glass.
Gap insurance: While it's not likely you'll owe more on your Chevy Cobalt than it's worth, if you find yourself in this situation, you can look into purchasing gap insurance. In a total loss, gap insurance covers the difference between what the car is worth and what you owe.
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What Affects the Cost of Insurance for a Chevy Cobalt?
Spending a majority of your time driving means you're at risk of getting in a car accident. This increase in risk can also increase your car insurance premiums.
Violations lead to insurance companies raising insurance premiums because they assume you're a dangerous driver. Having just one violation on your record can negatively impact your insurance premiums. Your independent insurance agent can help you determine when violations will fall off your record.
Your car’s value
Fortunately, the fact that Chevy Cobalts haven't been produced since 2010 make the cost very affordable. Low-cost vehicles tend to cost less to insure because it will cost the insurance company less money to pay for any repairs or replacement.
|Average price of a Chevy Cobalt|
|2010||$4,025 - $6,425|
|2009||$3,975 - $5,300|
|2008||$3,775 - $4,725|
|2007||$3,475 - $4,475|
|2006||$3,100 - $4,275|
The safety of your Chevy Cobalt
While compact and subcompact cars — particularly older models — tend to have issues with occupant safety, the Cobalt has moderate ratings.
The Insurance Institute for Highway Safety (IIHS) rates this vehicle as follows for crash safety:
- Small overlap front: Good
- Moderate overlap front: Not Rated
- Side impact (older models without side curtain airbags): Poor
- Side impact (newer models with side curtain airbags): Acceptable
- Rear crash protection: Good
Unfortunately, Cobalt vehicles from the 2005 through 2008 model years did not come equipped with side curtain airbags. The 2009 and 2010 models fared a bit better.
Where you live
Drivers who live in more populated areas will generally have higher premiums than those who live in rural towns due to the increased risk of incidents like collisions or theft.
Additional factors that affect your Chevy Cobalt insurance premiums
The following will also be taken into consideration when setting your car insurance premium.
- Safety features like anti-theft devices
- Your age
- Your gender
- The deductibles you choose
- Your credit rating
What Is the Average Cost to Insure a Chevy Cobalt?
The average Chevy Cobalt driver will pay around $1,342 annually for full coverage. However, if you're sure that liability is all you need, you'll only pay $580. As always, teen drivers will pay significantly more, but drivers who live in rural areas will pay less than the average.
|Average insurance price of Chevy Cobalt||$1,342|
Which states are most and least affordable for car insurance?
Estimated annual Chevy Cobalt insurance premiums in the United States:
|Most expensive states:|
|Most affordable states:|
How Can You Save on Chevy Cobalt Insurance?
Insurance companies offer plenty of ways to save you money on car insurance, including:
- Good student discount
- Anti-theft device discount
- Affinity discount
- Good driver discount
- Multi-line discount
- Multi-vehicle discount
Choosing a higher deductible may also help you save money on your monthly premiums.
Top Insurance Companies That Insure the Chevy Cobalt
No two insurance companies are exactly alike, meaning it’s important to select an insurer that fits your needs. The US Independent Insurance Agent Satisfaction Study by J.D. Power awarded the following companies high marks:
Your independent insurance agent will help you shop for coverage and find a company that meets your needs as a driver.
Where to Find Car Insurance for Your Chevy Cobalt
Comparison shopping is always an important step if you are looking for the best price for any type of insurance policy. A local independent agent can help make shopping stress free. These agents will take the time to understand your coverage needs and answer your insurance-related questions.
They can then gather quotes for policies and rates from a variety of competing insurance companies so that you can easily compare what they have to offer. Find an agent near you to get started, and discover how easy it can be to compare quotes for Chevy Cobalt insurance.
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consumper report; iihs