Best Cheap Insurance for a Chevrolet Malibu in Arkansas

Our editors have a joke that when writing about auto insurance, the word “cheap” shouldn’t be used anywhere in the article to describe car insurance prices. The fact is, cheap auto insurance for a Chevrolet Malibu can seem impossible to find. Don’t let that discourage you, because there may be ways you can find and buy auto insurance that doesn’t break your budget.

Your ability to find cheap auto insurance for a Chevrolet Malibu in Arkansas depends upon a pretty complex algorithm that uses a lot of factors like if you are married or single, if you have a tendancy to file claims, and your choice of physical damage deductibles. Drivers on average pay around $850 per year to buy Chevrolet Malibu insurance, but that cost is an estimation assuming a 40-year-old single male that purchased full comprehensive and collision coverage and $1,000 physical damage deductibles.

There is a high likelihood that you’re not a 40-year-old male, married instead of single, and you want different coverage limits than the example. Auto insurance is not the same for everyone, so your best shot at finding cheap insurance rates for your Chevrolet is to make a habit of comparing rates at every renewal.

Compare Rates and Save

The trim level of your Malibu has an effect on price, so the price you will be charged to insure a Malibu LS trim level will be $78 less expensive the price to insure the more well-appointed Malibu LTZ trim level, as shown in the table below.

Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Arkansas minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Estimates do not factor in specific location information which can alter insurance rates considerably.

Picking the best insurance provider can be a challenge considering how many companies are available to choose from in Arkansas. The company rank data shown below can help you choose which car insurance companies you want to consider comparing rates with.

The rankings below are for companies with a national presence, so smaller companies that only insure vehicles in Arkansas are not factored into the list. To get price quotes from these and other top-rated companies, just click here.

Top 10 Large Car Insurance Companies in Arkansas Ranked by Value

1. Travelers
2. American Family
3. AAA Insurance
4. Safeco Insurance
5. Progressive
6. The Hartford
7. The General
8. 21st Century
9. Esurance
10. Nationwide

Top 10 Large Car Insurance Companies Overall in Arkansas

1. Travelers
2. USAA
3. AAA Insurance
4. Nationwide
5. Allstate
6. State Farm
7. The Hartford
8. Safeco Insurance
9. Progressive
10. American Family

Top Companies for Chevrolet Malibu Insurance in Arkansas

The diagram below illustrates how your choice of deductibles can impact insurance rates when searching for cheap insurance for a Chevrolet Malibu. The data assumes a single male driver, comp and collision included, and no discounts are factored in.

In the chart above, a 30-year-old driver could pocket $388 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $588 by choosing a $1,000 deductible. Young drivers, like the 20-year-old, could possibly save up to $1,128 every year by choosing larger deductibles on their policy.

When increasing deductibles, it is important to have emergency funds available to be able to cover the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.

Why you are probably overpaying for Malibu insurance

Arkansas car insurance rates are calculated based on many things which can substantially decrease or increase your annual premium. Simply having a birthday, having a teen driver, or getting a DUI can trigger changes in premium resulting in some rates now being cheaper than others.

Additionally, car insurance companies modify pricing as needed as an adjustment for underwriting gains or losses. Higher than normal claim frequency or severity can result in high rates, while less frequent claims may result in lower-cost Malibu insurance rates.

To illustrate this example, the graph below demonstrates which company has the cheapest car insurance in Arkansas for a 30-year-old male driver with no prior accidents, a clean driving record, and excellent credit. Based on his current situation, Auto Club may offer the best car insurance rates in Arkansas at $1,005 per year. This is $904 less than the average price paid by Arkansas drivers of $1,909. USAA, Travelers, Southern Farm Bureau, and State Farm round out the rest of the most affordable Arkansas auto insurance companies.

In this example, we will give the driver from the above example a claim or two, a lower credit rating, and a speeding citation. Because each insurer has their own guidelines for filing rates in each state, analyzing rate quotes most likely will result in a substantially altered list of companies as shown below.

Safeco now has the best price on car insurance in Arkansas with Farmers, Cameron Mutual, State Auto, and USAA now rounding out the top five. This demonstrates why consumers need to perform a complete rate comparison when trying to get the most economical insurance quotes for a Chevrolet Malibu.

Auto insurance prices consist of many factors and can increase or decrease at any time, so the cheapest option six months ago may now not even be in the top five.

How to find the cheapest auto insurance for a Chevrolet Malibu

Lowering your rates is not difficult, and here are some thrifty solutions that can help drivers buy low-cost car insurance.

• Pay less by remaining claim-free
• Buy vehicles with five-star safety ratings
• At-fault accidents will increase rates
• Drivers with good credit often pay less
• Avoid getting tickets or violations
• Keep rates low by shopping around frequently

The last idea is certainly valuable, as we emphasized in the prior information. Prices charged by companies vary greatly, so don’t be hesitant to change insurance companies if a more affordable price is available.

Many drivers have brand loyalty and that’s fine, but we do not recommend it if that stubbornness costs you a wad of cash every year. Spend a few minutes and shop around and find cheaper auto insurance for a Chevrolet Malibu.