Updated: January 15, 2025
Advertising & Editorial Disclosure
A major factor affecting the price of car insurance costs is age. In comparison to 40-year-olds’ $1,244 premium for full coverage for a 2009 Chevy Malibu, 16-year-olds pay $5,756 yearly. A 2022 model will cost a 16-year-old $7,543 per year, as opposed to a 40-year-old's $1,668.
Since pricing is not the only factor that matters, MoneyGeek examined the best insurance providers for a Chevy Malibu in terms of customer service, affordability and claims history.
When considering the most affordable insurers for a Chevy Malibu, both for full and minimum coverage, State Farm consistently stands out as the cheapest option. Here's a breakdown:
Full Coverage Insurance:
- State Farm offers the cheapest full coverage insurance for a Chevy Malibu at an annual premium of $1,123. This insurer also has a high customer service score of 90 out of 100 according to MoneyGeek.
- GEICO is another affordable option for full coverage, with an annual premium of $1,242 and a solid customer service score of 88 out of 100.
Minimum Coverage Insurance:
- State Farm also provides the most affordable minimum coverage insurance at an annual premium of $496.
- Conversely, Farmers offers the most expensive minimum coverage at $791 per year, making State Farm the clear winner in affordability for minimum coverage as well.
Teen Drivers:
For 16-year-old drivers of a 2022 Chevy Malibu, the affordability trend continues with State Farm offering full coverage at $4,199 annually, which is significantly cheaper than Progressive's rate of $10,226.
Key Insights:
- Affordability: State Farm is consistently the most affordable option across different coverage types and age groups.
- Service: Besides affordability, State Farm is also highlighted for excellent customer service, making it an ideal choice for drivers seeking both low rates and quality service.
- Age Impact: Costs are significantly higher for teenage drivers, emphasizing the importance of age considerations in insurance premiums.
When looking for the best insurance providers for a Chevy Malibu, be sure to evaluate services in conjunction with pricing to find the best overall value for your specific needs.
Based on the provided data, State Farm emerges as the best car insurance provider for a Chevy Malibu. Here's a breakdown of the key information:
- MoneyGeek Score: 90 out of 100
- Annual Premium for Full Coverage:
- 2009 Chevy Malibu: $924
- 2022 Chevy Malibu: $1,314
State Farm offers the cheapest full coverage rates and has the second-highest overall customer service score among the companies analyzed. This makes it a top choice for affordability and quality of service when insuring a Chevy Malibu.
Age plays a significant role in determining car insurance premiums. This is particularly evident when comparing the insurance costs for a 16-year-old driver and a 40-year-old driver, especially for different models and model years of cars such as the Chevy Malibu.
Insurance Premiums by Age and Vehicle Model
1. Age-Based Premium Differences:
- 16-Year-Old Drivers:
- For a 2009 Chevy Malibu, a 16-year-old driver can expect to pay an annual premium of $5,756 for full coverage.
- For a newer 2022 Chevy Malibu, the premium increases to $7,543 annually for the same coverage.
- 40-Year-Old Drivers:
- In contrast, a 40-year-old driver pays significantly less, with a premium of $1,244 per year for a 2009 Chevy Malibu.
- For a 2022 model, the premium rises to $1,668 annually.
2. Reasons for High Costs for Teen Drivers:
- Young, inexperienced drivers are seen as a higher risk by insurers, primarily due to a higher propensity for accidents.
- As a result, teen drivers face much higher insurance costs, which tend to decrease as they age and gain more driving experience.
3. Premium Reduction Over Time:
- Insurance premiums typically decrease as drivers transition from their teenage years into their 20s, stabilizing further in their 30s and 40s.
- By age 40, drivers typically benefit from significantly reduced rates due to accumulated driving experience and potentially a history of safe driving.
Example Costs from Different Providers
- State Farm:
- For a 16-year-old driving a 2022 Chevy Malibu, the cost is relatively lower at $4,199 annually compared to other providers.
- Progressive:
- Comparatively, Progressive charges $10,226 annually for a 16-year-old with the same vehicle.
- For 40-Year-Olds:
- State Farm offers some of the most competitive rates, with $1,123 annually for a full coverage plan regardless of the model year.
Factors Affecting Insurance Costs Besides Age
- The year of the car, with newer models generally costing more to insure due to higher replacement values and potential repair costs.
- The propensity for theft, especially for models like the Chevy Malibu which are stolen frequently, raising their risk profile.
- Location, as insurance premiums vary significantly from one state to another, with states like Florida generally being more expensive.
To obtain the lowest possible rates, it’s advisable for drivers to compare quotes from various insurers and consider factors beyond merely age and vehicle model, such as customer service quality, claims handling, and overall satisfaction ratings.
Why Trust MoneyGeek? We collected thousands of car insurance quotes from Quadrant Information Services to analyze average rates for a Chevy Malibu.
These rates were updated to reflect the average cost of car insurance for a Chevy Malibu as of 2023.
A Chevy Malibu's average annual insurance rate is $1,490, although various insurers may charge in distinct ways. State Farm charges $1,123 for full coverage car insurance, while Farmers charges $1,719 for the same insurance plan.
While Farmers provides the most costly insurance for minimum coverage at $791, State Farm has the most affordable average cost at $496 yearly. To find the most affordable car insurance, you should compare rates from many different providers.
| State Farm | $1,123 |
| GEICO | $1,242 |
| Allstate | $1,400 |
| Nationwide | $1,495 |
| Travelers | $1,537 |
| Progressive | $1,687 |
| Farmers | $1,719 |
When insurers determine car insurance premiums, they take multiple factors into consideration. Because of its theft rate, a Chevy Malibu is moderately expensive to insure. Data from the National Highway Traffic Safety Administration (NHTSA) shows that this car model is stolen fairly regularly. When cars are stolen more frequently, this makes them riskier to insure and causes them to charge higher rates.
The best auto insurance providers for a Chevy Malibu should be chosen based on affordability, quality of service and claims management. MoneyGeek’s best options for full coverage are the following companies:
State Farm offers the cheapest rates and the second-highest overall customer service score from the various insurance companies we analyzed.
Provides the most affordable car insurance
Offers excellent customer satisfaction
Provides roadside assistance and rental car/travel reimbursement coverage
No unique coverage options for policyholders
Poor claims management rating
State Farm offers many advantages to policyholders who want to insure a Chevy Malibu. If you are looking for affordable insurance coverage with great customer service, this insurer can take you to the best of both worlds. It’s important to note that State Farm offers few coverage options and poor claims management.
Most of the add-on coverages offered by State Farm are common among other insurance companies in the market, including roadside assistance, rental car and/or travel reimbursement and rideshare insurance. With rental car/travel reimbursement, you can receive reimbursement for expenses up to certain limits when your car is being repaired after a covered accident.
State Farm lacks other usual coverages, including new car replacement, deductible modification, gap insurance, accident forgiveness or better car replacement.
Provides excellent customer service
Ranks well in affordability
Offers mechanical breakdown insurance
Poor record of handling claims
Lower coverage score
No new car replacement or better car replacement
GEICO is another reliable insurance company that provides quality service to drivers who want to insure a Chevy Malibu. It strikes a balance between outstanding service quality and affordability as it has the second-cheapest insurance rates out of the seven insurance companies we assessed. However, you must anticipate its weak claims management and the absence of new car replacement or better car replacement coverages.
GEICO includes coverage for rental car reimbursement, accident forgiveness and roadside assistance. Roadside assistance covers the expenses of towing, jump-starts, flat-tire repair and lockout assistance. Unlike other top insurance providers, GEICO fails to provide new car replacement or better car replacement coverage.
Mechanical breakdown insurance (MBI) is a special service provided by GEICO that offers superior protection at an affordable price than the normal dealer-extended warranty. It is offered for newly purchased or leased cars that are less than 15 months old and have fewer than 15,000 miles on them.
One factor that affects the average price of auto insurance is the age of the car being insured. Since the value of a car depreciates over time, newer models can cost more to insure. Full coverage insurance for a Chevy Malibu costs $1,244 per year for a 2009 model and $1,668 per year for a 2022 model.
| 2022 | $1,668 |
| 2021 | $1,647 |
| 2020 | $1,582 |
| 2019 | $1,574 |
| 2018 | $1,539 |
| 2017 | $1,469 |
| 2016 | $1,456 |
| 2015 | $1,417 |
| 2014 | $1,356 |
| 2013 | $1,352 |
| 2012 | $1,321 |
| 2011 | $1,266 |
| 2010 | $1,268 |
| 2009 | $1,244 |
There are also variations in the average cost of car insurance between companies. For a 2009 and 2022 Chevy Malibu, State Farm provides the most affordable insurance at $924 and $1,314, respectively.
| State Farm | $1,314 |
| GEICO | $1,397 |
| Nationwide | $1,650 |
| Allstate | $1,737 |
| Travelers | $1,792 |
| Progressive | $1,926 |
| Farmers | $2,009 |
Insurers consider everything when calculating the cost of insurance for a Chevy Malibu, including your age. Teenage drivers often end up paying more for car insurance than those between the ages of 30 and 40. Full coverage teen car insurance typically costs $6,595 for a 16-year-old, compared to $1,440 for a 40-year-old. Teen driver rates decline as they go through their teenage years before stabilizing in their 20s.
By evaluating insurance companies, you can find the lowest prices. State Farm costs $4,199 annually for a full coverage policy for 16-year-old drivers driving a 2022 Chevy Malibu, while Progressive costs $10,226. Note that these are the costs of single teen auto insurance coverage. Teens could potentially save money by joining a family policy. It’s also important to note that drivers under the age of 18 might need a guardian’s consent to purchase insurance.
| State Farm | $4,199 |
| GEICO | $6,602 |
| Nationwide | $6,654 |
| Travelers | $7,157 |
| Allstate | $8,071 |
| Farmers | $10,088 |
| Progressive | $10,226 |
Where you live has a huge impact on your auto insurance quote in addition to your age and pertinent details of your Chevy Malibu. The most costly state in terms of average car insurance premiums is Florida, while Idaho has the cheapest rates. Knowing which companies have the most affordable rates is essential so you can request estimates from them.
| Alabama | Nationwide | $709 | $59 |
| Alaska | State Farm | $699 | $58 |
| Arizona | Root Insurance Company | $682 | $57 |
| Arkansas | State Farm | $629 | $52 |
| California | AAA California | $1,001 | $83 |
| Colorado | American National P&C | $541 | $45 |
| Connecticut | GEICO | $693 | $58 |
| Delaware | State Farm | $881 | $73 |
| District of Columbia | GEICO | $662 | $55 |
| Florida | State Farm | $1,058 | $88 |
| Georgia | Country Financial | $665 | $55 |
| Hawaii | GEICO | $565 | $47 |
| Idaho | American National P&C | $299 | $25 |
| Illinois | Country Financial | $663 | $55 |
| Indiana | American Family | $555 | $46 |
| Iowa | State Farm | $509 | $42 |
| Kansas | Nationwide | $670 | $56 |
| Kentucky | Nationwide | $790 | $66 |
| Louisiana | Louisiana Farm Bureau | $1,048 | $87 |
| Maine | Concord Group | $521 | $43 |
| Maryland | Progressive | $938 | $78 |
| Massachusetts | State Farm | $483 | $40 |
| Michigan | GEICO | $898 | $75 |
| Minnesota | State Farm | $797 | $66 |
| Mississippi | Direct General Insurance | $723 | $60 |
| Missouri | Nationwide | $909 | $76 |
| Montana | Progressive | $437 | $36 |
| Nebraska | American National P&C | $405 | $34 |
| Nevada | CSAA | $940 | $78 |
| New Hampshire | State Farm | $540 | $45 |
| New Jersey | Plymouth Rock Assurance | $895 | $75 |
| New Mexico | State Farm | $644 | $54 |
| New York | Kemper | $781 | $65 |
| North Carolina | Erie | $630 | $52 |
| North Dakota | American Family | $616 | $51 |
| Ohio | Nationwide | $485 | $40 |
| Oklahoma | State Farm | $662 | $55 |
| Oregon | State Farm | $706 | $59 |
| Pennsylvania | Nationwide | $580 | $48 |
| Rhode Island | State Farm | $700 | $58 |
| South Carolina | American National P&C | $463 | $39 |
| South Dakota | Allstate | $746 | $62 |
| Tennessee | State Farm | $579 | $48 |
| Texas | State Farm | $699 | $58 |
| Utah | Nationwide | $725 | $60 |
| Vermont | State Farm | $493 | $41 |
| Virginia | American Family | $601 | $50 |
| Washington | PEMCO | $534 | $44 |
| West Virginia | Erie | $784 | $65 |
| Wisconsin | GEICO | $556 | $46 |
| Wyoming | State Farm | $745 | $62 |
To assist you in comparing car insurance quotes for a Chevy Malibu, we provided answers to some frequently asked questions about cost, claims management and customer service.
A Chevy Malibu's annual insurance average is $1,490 for full coverage, which is $925 cheaper compared to the $2,415 average for all other car models. State Farm has the cheapest insurance prices for a Chevy Malibu, costing $1,123 annually.
State Farm provides the best car insurance for a Chevy Malibu. It achieved a MoneyGeek score of 90 out of 100 due to its affordability and outstanding customer service.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a 5-time Jeopardy champion!
He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
