Buick Verano Insurance
(Here's what you need to know)
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The Verano is a great little car that is packed with technology, luxury and safety features, making it the perfect car for just about anyone.
There are rumors that the Verano may be on the way out, with 2017 being the last year for this compact luxury vehicle. If you are interested in owning one, don’t wait.
The Verano scores well on all safety ratings and is rarely stolen. It is also very affordable to insure, with average annual premium of $883, well below the national average of $1,474.
If the Verano is the car for you, or you already have one in your driveway, contact an independent insurance agent today. They will ensure that your Verano is properly protected with a very reasonable car insurance policy.
How Much Does Buick Verano Insurance Cost?
You can expect your annual insurance costs for a Buick Verano to be about $883, which comes in well below the national average of $1,474. As a compact sedan, the Verano will never be considered a sports car. Its smaller size and reasonable engine size help keep insurance costs down.
While there are many factors that you can control when it comes to your insurance costs (your driving and credit record), one that you can’t control is what other drivers are doing out on the road.
Statistics show that roughly 12.6% of drivers are not carrying car insurance, which raises the cost of insurance for all drivers, including Buick Verano owners.
The reason these uninsured drivers push up everyone’s rates is that insurance companies have to cover the cost of claims for uninsured drivers, and those costs are passed on to insured customers through higher premiums.
While the Verano is a fairly cheap vehicle to insure, there are ways to lower your premium even further. All insurance companies offer discounts, so make sure you are getting every discount you qualify for.
A Trusted Choice agent can review your current insurance and make sure you are getting all of the discounts that are available, and they will also shop your coverage to verify you get the best coverage at the best price.
Here are just a few of the more common discounts:
- Bundling: Purchasing home and car insurance from the same insurer should result in a discount on your premium of up to 25 percent.
- Paperless Policy: If your insurance company doesn’t have to print out a copy of your policy and mail it to you, they save money and pass that savings on to you via a small discount. Have your policy and bills sent through email to save money.
- Defensive Driving Course: Many insurers offer a discount if you take and pass a defensive driving course. Check with your insurer for approved courses.
Discounts are not the only way to lower your Buick Verano insurance costs. Here are few factors that you have direct control over that affect your premium:
- Credit Rating: Your credit rating has a major impact on your premium, since statistics show that drivers with lower credit scores tend to file more claims. If your credit score is low, make efforts to improve it. Pay your bills on time and review your credit report for errors. As your credit score improves, ask your insurer to requote your policy.
- Driving Record: This is a big one when it comes to your premium. Avoid speeding tickets and accidents to get the best rate.
- Claim Record: This is another major one. Filing claims on your policy will dramatically raise your premium. Save your insurance for major claims and pay for small damages out of pocket.
What Influences Insurance Costs for Compact Sedans?
The Buick Verano is a compact sedan, and as a general rule, small cars can be a bit more expensive to insure for a couple of reasons:
- Affordability: The Verano has a fairly low starting price. Affordable vehicles tend to be driven by younger drivers. Unfortunately, young drivers get in more accidents, which runs up the accident statistics for that more affordable vehicles, making them more expensive to insure for everyone.
- Accidents: According to a study by the Insurance Institute for Highway Safety, small entry-level vehicles have the highest rates of driver deaths per 1 million registered vehicles. Smaller vehicles have less mass to absorb a collision, which can lead to more serious accidents and injuries.
Buick Verano Auto Theft and Safety Ratings
According to data from the National Highway Traffic Safety Administration, a mere 29 Veranos were stolen in 2013.
Theft rates definitely have an impact on your car insurance rates, so vehicles with low theft rates are more affordable to insure than cars that have higher theft rates. Insurance companies have to pay out a claim every time a vehicle is stolen, and they incorporate that data into their premium calculations.
You will need comprehensive coverage to replace your Verano in the event it is stolen. Comprehensive insurance covers theft as well as any damage caused by storms, vandalism, falling objects and even damage caused by an animal.
An independent insurance agent will happily explain the benefits that comprehensive coverage provides as well as shop around for the best quote for your Verano.
Just like theft rates, safety ratings have a major impact on your insurance costs. The Buick Verano receives excellent safety ratings in almost all categories.
While not ranked as a Top Safety, Pick the Verano did get the highest rating of “Good” in the majority of categories, according to the Insurance Institute for Highway Safety:
- Moderate overlap front: Good
- Side impact: Good
- Roof strength: Good
- Head restraints and seats: Good
- Small overlap front: No Rating
There are a couple of reasons that insurers offer lower insurance rates to drivers of safe vehicles:
- Minimize or Prevent Damages: Cars that have a high safety rating provide better protection to occupants in the event of an accident, which results in fewer claims, and the claims that do happen tend to be less expensive. Safety features such as autonomous braking may actually prevent an accident and a claim.
- Safer Drivers: Statistics indicate that drivers who choose safe vehicles tend to drive more safely and file fewer claims.
Costs of Buick Verano Repairs
Unfortunately, the Verano is slightly more expensive to repair than national averages. As an example, the cost to repair or replace the front bumper on the Verano is $850, while the national average is $675.
In most modern cars, the bumper has sensors for airbags and other safety features, which can run up the cost of repairing or replacing this vital part of the car.
If you are not carrying collision coverage on your car insurance policy, you will have to pay the cost of the repairs out of your own pocket. Collision picks up the tab for the repair or replacement of your vehicle if it is damaged in a collision.
Collision insurance is subject to a deductible that you must pay before your insurance kicks in to cover the repair costs.
Remember, it is best to save your collision insurance for major claims; pay for smaller damages out of pocket, or your rates could rise dramatically.
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Where to Find Car Insurance for Buick Verano
If you are currently shopping for a Buick Verano or already own one, an independent agent can help you find the perfect policy to protect it. They will do all of the legwork for you, gathering quotes and securing discounts.
Your Trusted Choice agent will then present you with the best options for your particular situation.
Contact an agent today to start your Buick Verano insurance quote.
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