Average Insurance Costs:
- Annual Premium: Approximately $2,442 for a new Chevrolet Suburban.
Given that older vehicles like the 1994 Suburban typically have lower market values, you might expect premiums to be lower than the average for newer models. However, the exact cost can vary based on multiple factors.
Factors Influencing Premiums:
- Vehicle Age and Value: Older vehicles often have lower comprehensive and collision premiums due to decreased market value.
- Driving Record: A clean history can lead to discounts, while violations may increase rates.
- Location: Areas with higher traffic or theft rates can affect premiums.
- Coverage Limits and Deductibles: Choosing higher deductibles can lower premiums but increases out-of-pocket expenses in claims.
| Single Male in his 50s |
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| Year/Make Model: 1994 Chevrolet Suburban |
| Ownership Status: Owns |
| Discounts: Paperless, EFT |
| Selected Coverages With Progressive |
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| Bodily Injury Liability: $25,000 per person, $50,000 per accident |
| Property Damage Liability: $25,000 |
| Uninsured Motorist Bodily Injury: Rejected Comprehensive: $500 Collision: $500 Roadside and Rental Reimbursement ADDED |
| Other Rejected Coverages: Medical Payments |
Many people are surprised when their insurance rate is higher than expected, especially if they don’t have any accidents or violations on their record. This is good, a clean record helps keep rates down tremendously. However, did you know that lack of continuous insurance can hurt your rates in the future? Even if you don’t drive your vehicle, it’s best to continue paying for at least the state minimum liability, to keep your insurance score nice and high. A continuous insurance discount is one of the biggest insurance discounts you can add to a policy.
Total 6 Month Premium: $813.50
Monthly Installments: $136.03
What We Do at A Plus Insurance
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