The Chevrolet Camaro is a classic American muscle car. If you have your eye on a new or pre-owned sports car from Chevy, explore the cost of auto insurance on a Camaro before you move forward with your purchase. This guide explores the ins and outs of Chevy Camaro insurance, including average rates and factors that affect the cost of coverage.
Average Camaro Auto Insurance Rates
The insurance website ValuePenguin reviewed Camaro car coverage rates for eight model years and found an average annual premium of $2294. The most affordable available rates in the survey came from Progressive, with an average premium of $1875 per year on the Camaro.
According to quotes gathered by auto insurance website The Zebra, Camaro drivers pay an average of $151 per month for auto insurance, compared to an average of $129 per month for all U.S. drivers. The site’s researchers found the most affordable monthly rate of $70 from Allied.
The website BuyAutoInsurance.com found average rates of $123 a month and $1472 per year for the Camaro, though high-risk drivers can expect to pay nearly $2300 more for annual coverage. Its study breaks down the average policy cost for this vehicle as $372 for liability coverage, $348 for comprehensive coverage, and $594 for collision coverage.
Camaro Auto Insurance Rates by Model Year
ValuePenguin also looked at the cost of Camaro insurance by model year and received the following average annual rates for a 30-year-old male:
- 2014 Camaro: $1954.
- 2015 Camaro: $2011.
- 2016 Camaro: $2154.
- 2017 Camaro: $2289.
- 2018 Camaro: $2362.
- 2019 Camaro: $2440.
- 2020 Camaro: $2526.
- 2021 Camaro: $2612.
These rates represent the average cost of a full coverage policy on the LT trim.
Camaro Auto Insurance Rates by Provider
The Zebra reports these affordable average annual 2020 Camaro premiums by insurance company:
- Allied: $840.
- American Family: $1428.
- Arbella: $1570.
- Auto Owners: $1582.
- Erie: $1479.
- GEICO: $1606.
- Mercury: $1593.
- Nationwide: $1483.
- Southern Farm Bureau: $1548.
- Vermont Mutual: $1150.
- Tennessee Farmers: $1389.
- USAA (for members of the military and their families): $1570.
BuyAutoInsurance.com reports the most popular nationwide auto insurance providers for Camaro drivers include Allstate, Farmers, Chubb, GEICO, Nationwide, Liberty Mutual, Progressive, Travelers, USAA, and State Farm.
Smart Financial found the most affordable annual Camaro insurance rates from:
- ACC Insurance Company: $1422.
- California Capital: $2288.
- Farm Bureau Mutual IA Group: $1950.
- First Chicago Insurance: $2556.
- Grange Mutual: $2029.
- Hastings Mutual Insurance Company: $1395.
- Pekin Insurance: $1154.
- Rockford Mutual Insurance: $2226.
- Unigard: $2108.
Camaro Auto Insurance Rates by Driver Age
Smart Financial reports these average monthly Camaro insurance rates by age group:
- 16 to 19: $339.
- 20 to 29: $203.
- 30 to 39: $146.
- 40 to 49: $117.
- 50 to 59: $141.
These numbers are for the 2021 model year. Young drivers have a higher statistical risk of accidents than older drivers.
Factors Affecting Camaro Auto Insurance Rates
According to BuyAutoInsurance.com and Finder, these are the most significant factors influencing the cost of car insurance coverage for the Camaro:
- Model year, with more affordable coverage rates available for older Camaros.
- Driver age, with the highest rates for young, inexperienced teens and 20-somethings.
- Driver location, with higher rates in the cities than in rural and suburban locales.
- Driving records, with more expensive coverage for drivers who have a history of violations and claims.
- The Chevy Camaro’s safety ratings, which include high ratings on several crash tests from agencies such as the Insurance Institute for Highway Safety and the National Highway and Traffic Safety Administration (NHTSA).
- The safety equipment in your Camaro.
- Body type, which can increase the cost of Camaro coverage since the vehicle is a two-door performance coupe.
- Available power, with higher insurance rates associated with higher horsepower.
- The cost of repairs, which increases with more luxurious trims and high-tech features.
- Gas fuel, which costs less for insurance than comparable hybrid, diesel, and electric vehicles.
About the Chevrolet Camaro
Finder reports that the 2021 generation of the Camaro is the sixth for this legendary powerhouse, which debuted in 1967 as a direct competitor to the Ford Mustang. Over the years, the Camaro has gained accolades for its outstanding performance and fuel economy. It has an above-average reliability rating for the sports car class from both J.D. Power and Associates and U.S. News and World Report, as well as a 9.3 out of 10 safety rating from these sources. It has a five-star crash test rating from the NHTSA. You can reduce necessary repairs on your Camaro with routine maintenance, including oil changes every 7500 miles as recommended by Chevy.
Chevy offers a three-year, 36,000-mile limited bumper-to-bumper warranty on new Camaro models, which fixes poor workmanship and parts defects. The powertrain warranty lasts five years or 100,000 miles; a new model also has corrosion and rust-through coverage.
How to Buy Chevrolet Camaro Insurance
Finder recommends comparing policies between several auto insurance providers. To find the right Camaro policy for your needs, ask these questions:
- How much does the policy cost? Make sure you use the same coverage options to accurately compare quotes from different companies.
- How much coverage do I need? Some drivers require only state minimum coverage while others prefer the protection of a full-coverage policy.
- What is my deductible? This amount is the out-of-pocket cost when you file a claim with your comprehensive or collision policy for auto repair. A lower deductible results in a higher monthly insurance premium.
- What extras does the policy have? Examples include roadside assistance and accident forgiveness.
- Am I eligible for any discounts? Common examples include good driver discounts and defensive driving education discounts.
Check this out if you need additional information, resources, or guidance on car insurance.
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