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Best Car Insurance for Chevrolet Malibu & Cost To Insure It?

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Updated January 22nd, 2021

Checked by
Shaun Fyffe
Insurance Author
Reviewed by
Maurice Draine
Former P&C Agent
Advertiser Disclosure: Some of the offers within the content are from companies where AutoInsureSavings.org may receive compensation. This does not influence our analysis of services or products. Our opinions are our own in good faith.

If you have recently purchased a new Chevrolet Malibu or are considering purchasing one, you will need to learn the best insurance options in terms of coverage and price.

The best auto insurers for affordable coverage are Erie, Auto-Owners, and Tennessee Farmers.

Erie’s best option provided us a quote of $1,043 per year or 25% less expensive than the average rate.

Average Cost to Insure a Chevrolet Malibu

Here are the key considerations and takeaways. 

Chevrolet Malibu Insurance Cost - Key Takeaways
The average cost to insure a Chevrolet Malibu is $1,384 per year or $115 per month.
The cheapest insurers for full coverage are Erie and Auto-Owners, offering insurance quotes at $1,043 and $1,088 annually.
The best minimum coverage rates are found with GEICO and State Farm, providing quotes at $29 and $45 a month.
The average cost to insure a a RS 4 door sedan is $1,402 annually; the LT sedan is $1,477, and the Premier is $1,720.

This guide will look at the average cost of auto insurance for the Malibu and which factors contribute to your premium’s overall cost to help you make the right coverage choices.

The Cheapest Chevrolet Malibu Insurance

Popular insurers such as Erie, USAA, and Tennessee Farmers are at the top of the list for the cheapest options.

Erie provided our licensed agents a quote for coverage at $1,043 per year or an $87 monthly rate for full coverage.

Regional insurer Auto-Owners provided us a quote at $90 a month or 16% lower than the average monthly rate of $106.

The cheapest national auto insurer is GEICO who provided our agents a $98 per month rate or 9% less expensive than average.  

The average rates for insurance prices are $1,384 per year or $115 per month.

That amount is about $135 less annually for the cost of full coverage on the average family sedan.

CompanyMonthly PremiumAnnual Premium
Erie$87$1,043
Auto-Owners$90$1,088
Tennessee Farmers$90$1,090
USAA$95$1,140
GEICO$98$1,176
Allstate$119$1,438
Farmers$122$1,587
Liberty Mutual$139$1,678
State Farm$150$1,800
Progressive$152$1,824
Elephant$161$1,932
Travelers$169$2,033
Shelter$181$2,176
Chubb$187$2,241

If you can find a lower auto insurance premium than these amounts, you have found some of the most affordable rates for this make and model.

Several factors can affect the total cost of your premium.

While your vehicle’s make and model help determine the price, several other details such as your age, your driving history, and where you live can also impact your auto insurance rates.

Cost to insure with discounts, high deductibles, high-risk and young drivers.Illustrated above is the cost to insure a Chevrolet Malibu by driver discounts, high-risk, teen-drivers, and higher deductibles compared to the average rate. If you buy a policy, a higher deductible with multiple discounts, you can save 20% or more on a policy. Your results may vary when you get a quote.

What are the Best Insurance Companies for Minimum Coverage?

The cheapest minimum coverage rates for a Chevrolet Malibu are offered by GEICO, who provided our agents a $29 monthly rate or $380 annually.

The second cheapest option is State Farm, with a quote at $45 per month or $550 annually.

The best companies to insure your motor vehicle with the state’s minimum includes the following average annual rates:

CompanyMonthly RateAnnual Rate
GEICO$29$380
State Farm$45$550
Progressive$48$577
Farmers$54$656
Allstate$63$759

Minimum coverage is the least expensive insurance you can purchase no matter what type of vehicle you own.

In most states, bodily injury and property damage liability is the only coverage required. That takes care of any costs associated with medical bills or property damage associated with an accident you caused.

Some states may also require you to purchase uninsured motorist coverage as well.

Best auto insurers from Erie, Auto-Owners, Tennessee Farmers Mutual compared to average quote.The least expensive auto insurers are Erie ($1,043), Auto-Owners ($1,088), and Tennessee Farmers ($1,090) for annual rates compared to the average of $1,384.  Your results may vary when you get a quote.

What Are the Average Chevrolet Malibu Insurance Rates?

For most drivers, the most affordable average rate to insure a Chevy Malibu is $380 annually for liability coverage only.

Drivers who want full coverage insurance can expect to pay around $1,384 annually, while those in the high-risk category will pay upwards of $2,940 per year.

The age of your vehicle will determine coverage costs, as illustrated. 

Model YearCost to Insure
2021$1,384
2020$1,380
2018$1,311
2016$1,187
2014$1,108

Based on location, drivers who live in rural areas will pay $1,025 annually, while those in small cities can expect their annual premiums to be around $1,434.

Those who live in larger metropolitan areas will pay about $1,844 per year to insure it.

Here are some additional details on how coverage choices and driving history can affect your auto insurance costs.

The most affordable rate for it, after all, discounts, is $792 annually.

Below are the best policy discounts for all models and trims. 

Available discounts 
Multi-policy Loyalty discount
Multi-car discountAir bag discount
Good driver discountGroup rate discount
Anti-theft discountSafe driver discount
Anti-lock brake discountLoyalty discount

If you choose a higher deductible, you can expect to save as much as $186 per year.

The average price a 40-year-old driver with no violations will pay to insure their Chevy Malibu with a $500 deductible is $1,384 per year.

High-risk drivers who have severe violations on their record could pay as much as $2,940 or more per year.

Driver profiles$100 deductible$500 $1,000
Good driver$1,640$1,384$1,154
High-risk driver$3,688$2,940$2,520
Young driver$6,119$5,052$4,288

A policy to insure a 16-year old driver can cost an average of $5,052 per year.

However, before calculating your premium, there are several different factors such as your marital status, age, gender, credit score, and driving history.

What are the Insurance Quotes by Trim Level?

The trim level of your Malibu will have a significant impact on how much you pay per year or month on your insurance policy.

Here is a comparison based on the average annual rates from a quote for a 30-year-old male driver with no previous violations or accidents.

Trim LevelInsurance RatesBase Price
LS w/1LS 4dr Sedan$1,384$23,270
RS 4dr Sedan$1,402$24,270
LT 4dr Sedan$1,477$26,670
Premier 4dr Sedan$1,720$33,370

The driver has decided on minimal bodily injury and property damage liability, uninsured/underinsured motorist coverage, and $500 in comprehensive and collision coverage.

Malibu LS

With an annual quote of $1,384, some of the features that make auto insurance more costly for this trim level on the Malibu include:

— Buckle to drive system

— 4G LTE Wi-Fi hotspot capable

Trim Level RS

The RS model has similar features as the LS, with an average auto quote of $1,402 per year and the following additions:

— 18-in. aluminum wheels

— Black grille with chrome surround

— Rear spoiler

— Eight-way power driver’s seat with power lumbar

Malibu LT and Premier

A further-enhanced version of the RS model vehicle is the LT and Premier car models, with average annual rates at $1,477 to $1,720 per year.

Many of the extra features on this edition could significantly increase your monthly rates.

— 2.0L turbo four-cylinder engine producing 250 HP and 260 lb.-ft. of torque

— Nine-speed automatic transmission

— 19-in. aluminum wheels

— Bose premium nine-speaker audio system

— Infotainment 3 Plus System with navigation and 8-in. HD color touchscreen

How Safe is the Chevy Malibu?

The Malibu has an overall safety rating of 8.9.

Based on Insurance Institute of Highway Safety (IIHS.org) Safety Ratings, the vehicle scored “Good” in several impacts and crash safety tests. The Malibu also received a “Superior” safety rating with Front Crash Prevention.

Here are the National Highway Traffic Safety Association (NHTSA.gov) Safety & Crash Test Ratings:

  • Overall: 4 Stars
  • Frontal Crash: 5 Stars
  • Side Crash: 4 Stars
  • Rollover: 4 Stars 

Standard and Advanced Safety Features

The Chevy Malibu is designed to protect the driver and passengers in the event of a severe collision.

According to CarandDriver.com, all standard safety features include stability control, antilock brakes, traction control, and several airbags, including front knee, rear side, and side curtain.

Advanced safety features for money-saving discounts include the following.

Standard & Advance Safety Features 
Forward collision alert & automatic emergency brakingAdaptive cruise control
Front pedestrian brakingRear vision camera
Lane keep assist with lane departure warningHigh definition surround vision
Following distance indicatorRear camera mirror
Lane change alert with side blind zone alertRear cross traffic alert
Rear park assistIntellibeam auto high beam assist

OnStar

OnStar is an advanced communication system that can send crash notifications, alert emergency assistance, and help with roadside assistance and remote door unlocking.

Teen Driver Mode

This useful feature system allows you to preset the system with geographic, speed, and audio volume settings.

Driver Confidence I

This safety package includes various features such as automatic high beams, front and rear parking sensors, and driving assist features like blind-spot monitoring.

Driver Confidence II

Available with the Premier trim level, this safety package includes additional features such as a collision mitigation system that safely applies the brakes when the car is at high speeds and adaptive cruise control.

Other key features include:

Key Features 
4G LTE Wi-FiWireless charging
Apple CarPlay8-inch diagonal reconfigurable Driver Information Center
Android AutomyChevrolet Mobile App

How to Find the Cheapest Auto Insurance for Your Chevy Malibu?

You can save money on your Chevrolet Malibu by using the following strategies.

— Make sure to check insurance quotes every six months to a year.

— Buy a Malibu with an anti-theft device.

Comparison shopping before you buy any vehicle. Make sure to compare similar makes and car models.

— Reduce unnecessary coverage on older model vehicles. 

— Maintain a good driving record by avoiding traffic tickets, speeding violations, and driving under the influence offenses.

To find the least expensive insurance rates for your motor vehicle, you will need to compare quotes from at least three insurance providers.

By comparing quotes from multiple companies, you have the chance to look at what each provider has to offer in terms of coverage options and discounts.

To find the most affordable insurance options for your Malibu or another sedan, check out AutoInsureSavings.org for rate comparison tools, resources, and other useful information on how to purchase the right insurance policy.

How Does the Chevy Malibu Compare to Other Vehicles in its Class?

Comparing the cost of insurance between vehicles in the same class before you make a purchase can help you choose the right car that will save you money over time.

The Chevy Malibu is a mid-size, four-door sedan comparable to other similar vehicles such as the Hyundai Sonata, the Kia Optima, and the Volkswagen Passat.

VehicleComprehensiveCollisionLiabilityFull Coverage Premium
Chevrolet Malibu$322$532$530$1,384
Toyota Corolla$290$548$552$1,390
Subaru WRX$332$570$509$1,411
Hyundai Sonata$280$562$626$1,468
Kia Optima$294$566$556$1,416
Ford Taurus$344$596$562$1,502
Volkswagen Passat$320$536$539$1,395

Compared to similar sedans, the Malibu had a lower than average personal injury loss ratio at 43%.

Their bodily injury loss ratio was at 62%, which is less than the average 28%.

These are some statistics to consider when comparing insurance rates because these numbers lead to much higher premiums.

To get a better idea of how it compares to other sedans, here are the average premiums for it and the Hyundai Sonata:

InsurerChevrolet MalibuHyundai Sonata
GEICO$1,176$1,550
Farmers$1,587$1,946
Nationwide$1,289$1,445
Progressive$1,824$1,584
State Farm$1,800$1,484

Frequently Asked Questions

What is the Average Cost to Insure a Chevrolet Malibu?

The average cost to insure a Malibu is $1,384 per year or $115 per month from our sample 30-year-old driver. High-risk drivers will pay $2,940 annually, and young drivers will pay $5,052 per year.

Are Chevy Malibu’s Expensive to Insure?

Compared to other cars in its class, the Malibu is more expensive to insure than other vehicles. With an average base price of $23,270, the yearly cost to insure it on a cost-to-base car price ratio is 13.2%. That is significantly higher than the national average.

What Factors Affect the Cost of Chevrolet Malibu Insurance?

Several factors can impact the cost of your insurance premium for your Chevy Malibu or any other vehicle. Most providers will look at your age, where you live, your driving history, the make and model of your car, and even your credit score to determine what your premium will be.

The features of your vehicle can also affect your insurance costs, and therefore, to save money on your policy, you should choose a car with a high safety rating.

To learn more about what factors have the most significant impact on your insurance rates, check out the helpful guides available at AutoInsureSavings.org.

How Much Insurance Do I Need for a Chevy Malibu?

The amount of coverage you need for your Chevy Malibu depends on your state’s minimum coverage requirements and how much protection you feel is necessary based on your driving habits. If you are a good driver and have no violations or accidents on your driving record, you could save money by only purchasing a minimum coverage policy. In most states, this is liability coverage.

However, if you have had one or more accidents in the past, it would be in your best interest to consider a full coverage policy that will take care of any medical costs or repair bills you may be responsible for following a crash.

To learn more about the cheapest insurance options for Chevy Malibu and more ways to save, enter your Zip Code or contact the experts at AutoInsureSavings.org.

Our licensed professionals will be happy to answer any questions you have.

Methodology

AutoInsureSavings.org collects quotes from the largest car insurers for a 30-year-old male motorist for our driver profile. Each driver has a clean driving record, and we applied good driver other available discounts available by vehicle model.

Quotes for each insurer are via Quadrant Information Services with $50,000 bodily injury liability per person, $100,000 bodily injury liability per accident, $50,000 property damage liability per accident, and $500 deductibles for collision and comprehensive coverage.
Sources

— IIHS.org. “Vehicle Ratings
— III.org.  What Determines The Cost Of My Auto Insurance?
— NAIC. “Market Share Report.”
— National Highway Traffic Safety Association. “Safety Ratings.”
— Car and Driver. “Review of 2021 Chevrolet Malibu

Maurice Draine

Maurice Draine

Maurice, a former licensed P&C insurance agent with a 4-year degree in journalism. He resides in Minneapolis and has worked as a technical writer for UnitedHealthcare and Wells Fargo, where he created Medicare-related policies and procedures for three years. He is also an editor for AutoInsureSavings.org.

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