Compare the Cost of Chevy Malibu Insurance by Model Year and Company

MoneyGeek noted that the average cost of car insurance for a Chevy Malibu is $1,271 per year. It is not expensive to insure a Chevy since it costs about $157 less than the national average. Keep in mind that rates differ from one insurance company to the next based on the model year of your car.

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If you are looking for the lowest Chevy Malibu insurance rates, comparing quotes from various companies can help you get the best deal. This is because insurers charge different rates for the same car model. Additionally, the cheapest company differs based on the model year of your car and driving record.

Key Takeaways

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The cost of insuring a Chevy Malibu is lower than the insurance cost of an average car model. Chevy Malibu drivers pay $1,271 per year, which is $157 less than the national average.

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The average annual cost of insuring a Chevy Malibu can vary by as much as $573 per year, depending on the insurer. It pays to shop around.

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Chevy Malibu drivers can pay up to $422 per year based on how old their car is. Older car models are cheaper to insure.

How Much It Costs to Insure a Chevy Malibu and the Cheapest Company

Chevy Malibu insurance costs differ from one insurance provider to the next. It costs an average of $1,271 to ensure a Chevy Malibu, but the price may be higher or lower, depending on your insurance company. USAA is the cheapest insurance option at $1,063 per year. If you qualify for USAA, you can save as much as $573 per year on car insurance.

The Average Annual Cost of Chevy Malibu Insurance by Company

MoneyGeek obtained car insurance rate data from a sample driver profile with a policy that offers 100/300/100 liability insurance and comprehensive and collision coverage.

The Average Cost to Insure a Chevy Malibu by Company

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Is a Chevy Malibu Expensive to Insure?

Insurance companies use several factors when calculating insurance rates. High-priced models and those with high theft or crash rates often have higher insurance costs.

While insurers do not reveal how they determine car insurance rates for each car model, they consider criteria like repair costs, theft rates and the car’s value. The Chevy Malibu is not expensive to insure due to its low value and low horsepower. Low-value vehicles cost less to repair, and those with low horsepower don’t get involved in severe accidents as frequently. These factors are why the Chevy Malibu is cheaper to insure.

The Best Car Insurance Company for a Chevy Malibu

The cost of insurance should not be the only factor you consider when purchasing coverage for your Chevy Malibu. Evaluating other details about your insurer can help you find the best option.

MoneyGeek’s scoring system is established by affordability, customer complaints, financial stability and customer satisfaction scores of each insurance company. Based on the scores:

  • USAA is the best car insurance company for Chevy Malibu, although it is only available to former and current military members and their families.
  • The second-best insurer for Chevy Malibu is GEICO.

1
USAA
Score:99

5/5

Affordability

4.5/5

Claims Ratings

5/5

User Satisfaction

5/5

Financial Stability

2
GEICO
Score:87

4.7/5

Affordability

3.5/5

Claims Ratings

3/5

User Satisfaction

5/5

Financial Stability

3
State Farm
Score:81

4.1/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

5/5

Financial Stability

4
Progressive
Score:80

4.1/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

4.5/5

Financial Stability

5
Allstate
Score:69

3/5

Affordability

4.5/5

Claims Ratings

3/5

User Satisfaction

4.5/5

Financial Stability

How Much It Costs to Insure a Chevy Malibu by Model Year

While newer vehicles are usually more expensive to insure, comprehensive and collision insurance rates typically reduce as a car’s value depreciates over time. It costs an average of $995 to ensure a 2005 Chevy Malibu, while drivers of the 2019 version pay $1,417. That’s a contrast of about $422.

Depending on the model year of your car, you can find cheaper insurance from different providers. The most affordable company for a 2020 Chevy Malibu is USAA, with an average cost of $1,131 per year.

You can compare rates for your model year using the information below.

The Average Cost to Insure a Chevy Malibu by Model Year

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  • Company
    Average Annual Rates (2020 model)
    Average Annual Rates (2019 model)
    Average Annual Rates (2018 model)
    Average Annual Rates (2017 model)
    Average Annual Rates (2016 model)
    Average Annual Rates (2010 model)
    Average Annual Rates (2005 model)
  • 1.
    $1,131
    $1,162
    $1,200
    $1,061
    $1,034
    $958
    $895
  • 2.
    $1,236
    $1,219
    $1,203
    $1,161
    $1,161
    $965
    $891
  • 3.
    $1,314
    $1,440
    $1,272
    $1,259
    $1,238
    $1,224
    $935
  • 4.
    $1,391
    $1,344
    $1,321
    $1,304
    $1,252
    $1,130
    $979
  • 5.
    $1,400
    $1,420
    $1,437
    $1,453
    $1,530
    $1,297
    $1,126

How Expensive Is It to Insure a Chevy Malibu Compared to Other Cars?

Is the Chevy Malibu expensive to insure? Insurance for this model is more affordable compared to other models as well as the national average. It costs an average of $1,271 per year to insure a Chevy Malibu. By comparison, the average price across all models is $1,427.

How Much It Costs to Insure a Chevy Malibu for 16- to 25-Year-Olds

Due to a lack of driving experience, younger drivers tend to pay more for car insurance regardless of the model of the car they drive. The average cost of insuring a Chevy Malibu for an 18-year-old is $4,148 per year. In comparison, 40-year-old drivers pay $2,877 less for the same coverage.

Car insurance can be cheaper for younger drivers if they stay on their parent’s policy and more expensive if they purchase their own coverage.

You can use the information below to get car insurance costs for drivers between 16 and 25 years of age.

The Average Cost to Insure a Chevy Malibu by Driver Age

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  • Age
    Average Annual Rates
  • 16
    $5,317
  • 17
    $4,710
  • 18
    $4,148
  • 19
    $2,971
  • 20
    $2,651
  • 21
    $2,099
  • 22
    $1,933
  • 23
    $1,769
  • 24
    $1,661
  • 25
    $1,507
  • 40
    $1,271

How Does Location Affect the Cost of Chevy Malibu Insurance?

Although the costs cited above are based on the national average, your location can have a significant impact on your car insurance costs. You can compare Chevy Malibu car insurance rates for your state using our state page analysis.

FAQs About Chevy Malibu Insurance

The model of your car can influence how much you pay for auto insurance, although it is not the only factor that insurers look at when calculating their rates. The following are some of the common questions about Chevy Malibu insurance.

Read More About Car Insurance

Methodology

MoneyGeek researched car insurance data for a Chevrolet Malibu base model using a sample driver profile. In this case, the driver is a 40-year-old male purchasing a full coverage policy with the following limits:

  • $100,000 in bodily injury liability insurance per person
  • $300,000 in bodily injury liability insurance per accident
  • $100,000 in property damage liability insurance per accident
  • Comprehensive and collision insurance with a $1,000 deductible

The average rates are intended to guide you on the cost of car insurance from different providers but do not represent your exact rates.

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.