How to Compare Tulsa Chevy Suburban Insurance

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Discount Chevy Suburban insuranceTo save the most money, the best way to get discount car insurance rates in Tulsa is to start comparing prices regularly from different companies in Oklahoma. Prices can be compared by following these steps.

  • First, gain an understanding of the different coverages in a policy and the measures you can take to prevent expensive coverage. Many rating criteria that drive up the price like accidents, traffic violations, and an imperfect credit history can be remedied by improving your driving habits or financial responsibility. This article provides instructions to get low prices and earn larger discounts.
  • Second, compare rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can provide rates from a single company like GEICO and Allstate, while independent agents can quote prices for many different companies.
  • Third, compare the quotes to your current policy premium to see if you can save by switching companies. If you find better rates, make sure the effective date of the new policy is the same as the expiration date of the old one.
  • Fourth, notify your current company of your intention to cancel your current car insurance policy and submit a completed application and payment for the new coverage. Don't forget to safely store the proof of insurance certificate in an accessible location in your vehicle.

One tip to remember is that you'll want to make sure you compare identical coverages on every price quote and and to analyze as many companies as feasibly possible. This ensures an accurate price comparison and a complete rate analysis.

A recent NerdWallet.com study revealed that most insurance buyers in Oklahoma kept buying from the same company for well over three years, and nearly the majority have never taken the time to shop around. Most drivers in the United States could cut their rates by up to 47% a year by just comparing rate quotes, but they don't know the benefits if they moved their coverage to a different company.

Finding the cheapest auto insurance coverage in Tulsa is quite easy. If you have a policy now or just want cheaper coverage, you can use these tips to reduce the price you pay without sacrificing coverage. Consumers just have to use the least time-consuming way to shop for auto insurance online from multiple companies.

Finding a better price on auto insurance is surprisingly easy. Drivers just need to invest a little time getting comparison quotes to find the company with affordable Chevrolet Suburban insurance quotes.

The companies in the list below are ready to provide comparison quotes in Oklahoma. If you want the best cheap car insurance in Tulsa, it's a good idea that you click on several of them to get a more complete price comparison.

Chevy Suburban insurance rates and statistics

The coverage table shown below highlights estimates of coverage prices for Chevy Suburban models. Having a good grasp of how insurance policy rates are determined can help you make informed coverage decisions.

Chevrolet Suburban Insurance Rates in Tulsa, OK
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Suburban LS 2WD $374 $684 $470 $28 $140 $1,696 $141
Suburban LT 2WD $374 $684 $470 $28 $140 $1,696 $141
Suburban LS 4WD $374 $684 $470 $28 $140 $1,696 $141
Suburban LT 4WD $374 $684 $470 $28 $140 $1,696 $141
Suburban LTZ 2WD $374 $804 $470 $28 $140 $1,816 $151
Suburban LTZ 4WD $418 $804 $470 $28 $140 $1,860 $155
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Cost estimates assume married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Oklahoma minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Estimates do not factor in garaging location in Tulsa which can affect premium rates substantially.

An analysis of deductible level

One of the more difficult decisions when buying auto insurance is the level to set your comp and collision deductibles. The comparison tables below may help you to understand how much more rates are between low and high physical damage coverage deductibles. The first price estimate table uses a $250 physical damage coverage deductible and the second price chart uses a $500 deductible.

Chevrolet Suburban insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Suburban LS 2WD $392 $584 $448 $26 $134 $1,609 $134
Suburban LT 2WD $392 $584 $448 $26 $134 $1,609 $134
Suburban LS 4WD $392 $584 $448 $26 $134 $1,609 $134
Suburban LT 4WD $392 $584 $448 $26 $134 $1,609 $134
Suburban LTZ 2WD $392 $688 $448 $26 $134 $1,713 $143
Suburban LTZ 4WD $436 $688 $448 $26 $134 $1,757 $146
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Chevrolet Suburban insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Suburban LS 2WD $318 $472 $448 $26 $134 $1,398 $117
Suburban LT 2WD $318 $472 $448 $26 $134 $1,398 $117
Suburban LS 4WD $318 $472 $448 $26 $134 $1,398 $117
Suburban LT 4WD $318 $472 $448 $26 $134 $1,398 $117
Suburban LTZ 2WD $318 $554 $448 $26 $134 $1,480 $123
Suburban LTZ 4WD $354 $554 $448 $26 $134 $1,516 $126
Get Your Own Custom Quote Go

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Oklahoma minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Price estimates do not factor in specific zip code location which can change insurance rates considerably.

Using the data above, we can ascertain that using a $250 deductible costs approximately $18 more each month or $216 for a full year than selecting the higher $500 deductible. Since you would have to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you tend to go at a minimum 14 months between claim filings, you would save money by going with a higher deductible. The table below illustrates a better example of how we made this calculation.

Average monthly premium for $250 deductibles: $138
Average monthly premium for $500 deductibles (subtract): - $120
Monthly savings from raising deductible: $18
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $18
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 14 months

One important issue to know is that increasing deductibles to lower your rates results in having to pay to pay more out-of-pocket when you do file a claim. That will require enough money stashed away in the event you need to pay more to get your vehicle repaired.

The diagram below illustrates how your choice of deductibles and can raise or lower Chevy Suburban insurance rates for different insured age categories. The costs are based on a married female driver, comprehensive and collision coverage, and no policy discounts are applied.

Drive responsibly or pay higher rates

The diagram below highlights how speeding tickets and accident claims increase Chevy Suburban car insurance costs for each different age category. The premiums assume a married male driver, full coverage, $1,000 deductibles, and no additional discounts are factored in.

Comparison of full coverage and liability-only policies

The information below visualizes the comparison of Chevy Suburban annual premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The price estimates are based on no claims or driving violations, $500 deductibles, marital status is single, and no discounts are applied to the premium.

When to drop comprehensive and collision coverage

There isn't a written rule to stop buying physical damage coverage on your policy, but there is a general convention. If the annual cost of comprehensive and collision coverage is about 10% or more of the settlement you would receive from your company, then it's probably a good time to buy liability coverage only.

For example, let's say your Chevy Suburban book value is $3,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $2,000 after the deductible is paid. If you are currently paying more than $200 a year to have full coverage, then you may want to consider only buying liability coverage.

There are some cases where only buying liability is not a good plan. If you haven't paid off your loan, you have to maintain full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage.

Informed Consumers Save Money

Many things are used when premium rates are determined. Some are obvious like a motor vehicle report, although some other factors are less apparent such as whether you are married or your commute time.

High coverage deductibles lower rates - The deductibles you choose define the amount you are required to spend out-of-pocket if the claim is covered. Physical damage coverage, also called comprehensive and collision insurance, covers damage that occurs to your car. Some coverage claims are collision with another vehicle, damage from fire, and having a roll-over accident. The more expense you have to pay, the bigger discount you will receive.

Excellent credit means lower costs - An insured's credit score is a big factor in determining your rates. If your credit can use some improvement, you may save money insuring your Chevrolet Suburban by taking the time to improve your credit score. Insureds with good credit tend to file fewer claims and have better driving records than drivers who have lower credit ratings.

Little extras can really add up - There are quite a few extra add-on coverages that you can get tricked into buying when buying auto insurance. Coverage for things like roadside assistance, high-cost glass coverage, and motor club memberships are examples of these. The coverages may be enticing when buying your policy, but your needs may have changed so eliminate them to save money.

Vehicle risk affects costs - The make and model of the car you are insuring makes a huge difference in how high your rates are. Lower cost passenger models receive the most favorable rates, but that's not the only thing that factors into the final price.

The data below uses these variables: married female driver age 30, full coverage with $500 deductibles, and no discounts or violations. It compares Chevrolet Suburban car insurance rates compared to other models that have different performances.

Bundle home and auto and save - Most larger insurers will award a discount to insureds that buy multiple policies in the form of a multi-policy discount. This can amount to as much as ten percent or more Even with this discount, drivers will still want to check prices from other companies to confirm you are receiving the best rates possible. You may still be able to find lower rates by insuring with multiple companies.

Auto insurance rates and your job - Do you work in a high-stress field? Careers like military generals, architects, and emergency personnel have higher premiums than the average policyholder in part from high stress levels and lots of time spent away from family. On the flip side, jobs like farmers, historians and performers have the lowest average rates.

Know your vehicle's crash test rating - Safe vehicles get lower rates. Vehicles engineered for safety reduce injuries and lower injury rates means less claims paid and lower rates for you.

Insurance losses for a Chevy Suburban - Auto insurance companies use historical loss data to help determine the rate you pay. Models that statistically have higher number or severity of losses will have increased rates. The table below outlines the compiled insurance loss statistics for Chevy Suburban vehicles.

For each coverage type, the statistical loss for all vehicles, as a total average, equals 100. Numbers under 100 suggest a positive loss record, while values that are above 100 point to more losses or an increased likelihood of larger losses.

Chevrolet Suburban Insurance Loss Statistics
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Chevrolet Suburban 1500 4dr 2WD 90 92 90 67
Chevrolet Suburban 1500 4dr 4WD 109 113 124 72 70
BETTER
AVERAGE
WORSE

Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years

Why car insurance is not optional

Despite the potentially high cost of Chevy Suburban insurance, maintaining insurance may be required and benefits you in several ways.

  • Most states have compulsory liability insurance requirements which means you are required to buy a minimum amount of liability in order to drive the car legally. In Oklahoma these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
  • If your vehicle has a lienholder, more than likely the lender will require that you have full coverage to protect their interest in the vehicle. If coverage lapses or is canceled, the bank will be required to insure your Chevy at a significantly higher premium and make you pay for it.
  • Insurance safeguards not only your car but also your assets. Insurance will also pay for medical bills for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance also pays for attorney fees and expenses if you are named as a defendant in an auto accident. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.

The benefits of buying enough insurance outweigh the cost, particularly if you ever have a claim. According to a 2015 survey, the average American driver is currently overpaying as much as $825 a year so you should quote rates at every renewal to ensure rates are inline.