- Chevrolet Equinox car insurance costs an average of $1,424 per year, $712 for a 6-month policy, or $119 per month.
- Equinox insurance cost ranges from $1,368 to $1,496 annually for the average driver, depending on trim level.
- Dropping physical damage insurance coverage on an older Equinox could save $580 a year, depending on policy limits and driver age.
How much does Chevy Equinox insurance cost?
Chevrolet Equinox car insurance costs an average of $1,424 per year for full coverage, which is about $119 each month. The Equinox ranks #24 out of 46 vehicles in the 2022 compact SUV segment for insurance affordability.
Depending on the trim level being insured, average monthly car insurance cost for a Chevrolet Equinox ranges from $114 per month on the Equinox LS model to $125 per month on the Premier AWD model.
For individual policy coverages, collision coverage costs an average of $554 a year, comprehensive (or other-than-collision) coverage costs approximately $360, and the remaining liability/medical coverage costs around $510.
The following chart displays average car insurance rates for a 2022 Equinox with a range of different policy situations. Different driver ages, driving records, and policy deductible amounts can make a big different in how much Equinox insurance costs.
|Driver Risk Profile||Annual Rate||Monthly Rate|
|High Risk Driver Age 30||$3,202||$267|
|Safe Driver Age 20||$2,806||$234|
|At-fault Accidents Age 40||$2,004||$167|
|Low Deductibles Age 40||$1,824||$152|
|Safe Driver Age 30||$1,496||$125|
|Safe Driver Age 40||$1,424||$119|
|Safe Driver Age 50||$1,296||$108|
|Safe Driver Age 60||$1,270||$106|
|High Deductibles Age 40||$1,216||$101|
|Discount Rate Age 40||$1,184||$99|
To help illustrate the full price range for Equinox insurance, consider that buying a policy with only liability coverage in the cheapest areas of Wisconsin or Ohio can cost as little as $218 a year, while a 16-year-old driver with a tendency to speed in some neighborhoods in New Orleans, LA, could be as much as $16,286 a year for a policy that provides full coverage.
Some additional insights concerning Equinox insurance cost include:
- Safe drivers have cheaper Equinox insurance. Too many at-fault accidents can raise rates, potentially up to $1,964 per year for a 20-year-old driver and even as much as $424 per year for a 60-year-old driver.
- Get cheaper rates by researching discounts. Discounts may be available if the policyholders are senior citizens, are military or federal employees, belong to certain professional organizations, are away-from-home students, are good students, or many other discounts which could save the average driver as much as $240 per year.
- Raise your credit for better rates. Having an excellent credit rating above 800 could save around $224 per year over a lower credit score of 670-739. Conversely, a not-so-perfect credit rating could cost up to $259 more per year.
- The cost to insure teen drivers is expensive. Average rates for full coverage Equinox car insurance costs $5,124 per year for a 16-year-old driver, $4,760 per year for a 17-year-old driver, and $4,438 per year for a 18-year-old driver.
- Driving violations increase insurance rates. To get the cheapest rates, it just makes good sense to be a safe driver. As a matter of fact, just one or two minor moving violations can increase insurance cost by up to $370 per year. Being convicted of a serious infraction such as reckless driving could raise rates by an additional $1,290 or more.
- As you get older, car insurance rates go down. The difference in insurance rates for an Equinox between a 60-year-old driver ($1,270 per year) and a 20-year-old driver ($2,806 per year) is $1,536, or a difference of 54.7%.
- Prepare for sticker shock for high risk insurance. For a 30-year-old driver, having a tendency to get into accidents or receive driving citations increases the cost by $1,706 or more per year.
What is the cheapest Chevrolet Equinox insurance?
The cheapest model of Chevy Equinox to insure is the base LS model at $1,368 per year, or about $114 per month. Other trims like the LS and LT 2WD models cost a little more than the L version, but are still quite affordable.
The most expensive Premier AWD trim level costs an extra $128 per year over the lowest cost LS model. In most instances, as the cost of the vehicle increases with multiple add-on feature packages, the cost of insurance always seems to increase as well.
The next table shows average yearly and 6-month Chevrolet Equinox car insurance rates, including a monthly budget amount, for each 2022 model year trim level.
|Chevrolet Equinox Trim Level||Annual Policy||6-month Policy||Per Month|
As you should be able to tell by the table above, as the MSRP of an Equinox increases with higher-end trim levels and options, the cost of car insurance also increases.
Vehicles that cost more also have higher “actual cash value” or ACV, which simply means that if the vehicle is totaled in an accident or other event (fire, hail, flood, etc.), your car insurance company will have to pay more to replace it. And more money out of the car insurance company’s pocket means more money out of your pocket in the form of more expensive car insurance rates.
How do Equinox insurance rates rank vs. other SUVs?
The Chevy Equinox ranks #24 out of 46 total comparison vehicles in the 2022 compact SUV segment. The Equinox costs an average of $1,424 per year to insure for full coverage, while the segment median rate is $1,426 per year.
When compared to other small SUVs, Equinox insurance costs $16 less per year than the Toyota RAV4, is $88 more than the Honda CR-V, costs $68 less than the Nissan Rogue, and is $74 less than the Ford Escape.
The chart below shows how well average Chevrolet Equinox insurance rates compare to other popular compact SUVs. A more comprehensive data table is included after the chart that ranks insurance rates for the entire 2022 small SUV category.
|7||Nissan Rogue Sport||$1,272||-$152|
|11||Toyota Corolla Cross||$1,310||-$114|
|21||Mitsubishi Eclipse Cross||$1,408||-$16|
|34||Hyundai Ioniq 5||$1,514||$90|
|35||Mini Cooper Clubman||$1,516||$92|
|41||Mini Cooper Countryman||$1,582||$158|
|44||Ford Mustang Mach-E||$1,726||$302|
Another useful way to evaluate rates is to discover how the cost of insurance for a Chevrolet Equinox compares to similarly priced models. With an average MSRP of $30,445, the cost to buy a new 2022 Chevrolet Equinox ranges from $26,995 to $33,795, depending on the trim level.
The vehicles in the compact SUV segment most similar in price to the Equinox are the Subaru Forester, Mini Cooper, Volkswagen Tiguan, and Jeep Compass.
Here’s how they compare to a 2022 Equinox for price and the cost to insure.
- Chevrolet Equinox vs. Subaru Forester – The average MSRP for a 2022 Chevrolet Equinox is $79 cheaper than the Subaru Forester, at $30,445 compared to $30,524. Insuring the Subaru Forester costs an average of $104 less than the Chevrolet Equinox.
- Chevrolet Equinox vs. Mini Cooper – The 2022 Chevrolet Equinox has an average MSRP that is $245 more expensive than the Mini Cooper ($30,445 versus $30,200). Anticipate paying around $140 more per year for insurance on the Mini Cooper compared to an Equinox.
- Chevrolet Equinox vs. Volkswagen Tiguan – The sticker price on the Volkswagen Tiguan averages $507 more than the Chevrolet Equinox ($30,952 compared to $30,445). The average insurance cost for a 2022 Chevrolet Equinox compared to the Volkswagen Tiguan is $100 more each year.
- Chevrolet Equinox vs. Jeep Compass – The 2022 Chevrolet Equinox has an average MSRP that is $616 more expensive than the Jeep Compass ($30,445 versus $29,829). Insurance on a Chevrolet Equinox costs an average of $54 less annually than the Jeep Compass.
How much is insurance on a used Equinox?
Insuring a 2013 Equinox could save $312 each year over the cost of insuring a new 2022 model. A 2018 model would save around $268 each year.
The following table shows average car insurance rates for a Chevy Equinox for various driver age groups for the 2013 to 2022 model years.
Rates range from $960 for a 60-year-old driver rated on a 2014 Chevy Equinox to the most expensive rate of $2,806 for a 20-year-old driver rated on a 2021 Equinox.
|Model Year||Driver Age 20||Age 30||Age 40||Age 50||Age 60|
After the vehicle depreciates considerably, it will probably be a good idea to drop coverage for physical damage from the insurance policy. As a vehicle ages, the added cost of comprehensive and collision coverage surpasses the benefit of having it.
Deleting physical damage coverage on an older Chevrolet Equinox may save you $580 a year, depending on the coverage deductibles and the age of the driver rated on the vehicle.