1998 Jaguar XJR Insurance Rates

Did budget coverage turn out to be an expensive auto insurance policy? Say no more because there are many drivers thinking the same thing.

Because there are so many options when it comes to auto insurance, it’s nearly impossible to choose a more affordable auto insurance company.

You should make it a habit to shop coverage around quite often since rates change quite often. Just because you had the lowest premium rates on XJR coverage on your last policy you can probably find a better price now. Ignore everything you know about auto insurance because I’m going to let you in on the secrets to how to use the internet to find the best coverage while lowering your premiums.

How to compare insurance coverage rate quotes

To get the cheapest insurance quotes, there a variety of ways to get quotes from companies that offer insurance coverage in your state. The quickest method to do a complete rate comparison is to jump online and get quotes. It is quite easy and can be accomplished in a couple minutes as outlined below.

The best way to get the best comparison quotes is an all-inclusive rate comparison like this one (opens in new window). This quick form saves time by eliminating repetitive form submissions for every company. A single form will get you price quotes instantly.

A less efficient way to compare rate quotes requires a trip to the website of each company and get a separate price quote. For sake of this example, we’ll pretend you want to compare rates from Geico, 21st Century and GMAC. To get each rate you have to navigate to each company’s site to enter your coverage information, which is why most consumers use the first method. For a handy list of car insurance company links in your area, click here.

The least efficient and most time consuming method to do your price quoting is actually driving to each insurance agency near you. Shopping for insurance coverage online eliminates the middleman unless your situation requires the trained guidance of a local agency. Drivers can compare the best prices online but buy the policy through an agent.

The method you choose is up to you, but do your best to enter the same coverage limits and deductibles on every quote you get. If you are comparing different limits and deductibles on each one it will be very difficult to find the best deal for your Jaguar XJR. Just a small difference in limits can result in a big premium difference. Just keep in mind that quoting more will increase your chances of finding more affordable insurance. Some regional insurers cannot provide price estimates online, so you also need to get rates from those companies as well.

Truth in auto insurance advertising

Well-known auto insurance companies like 21st Century, Allstate and State Farm endlessly run television, radio, and online ads. All the ads advertise claims of big savings if you switch your auto insurance coverage to their company. It sounds good, but how can they all charge less that you’re paying now? Here is the trick they use.

Many companies require specific criteria for the type of customer that will add to their bottom line. For example, a profitable insured should be between the ages of 30 and 50, has a clear driving record, and has a short commute. A customer who matches those parameters will get a cheap rate quote and as a result will probably save a lot of money.

Potential insureds who may not quite match these criteria will be quoted higher rates which translates to the customer buying from a different company. If you listen closely, the ads state “people who switch” not “everyone who quotes” save that kind of money. That’s the way insurance companies can confidently make claims that they all have the best car insurance rates.

This really emphasizes why you absolutely need to get insurance quotes as often as possible. It is impossible to predict with any certainty which company will have the best rates for your profile.

Insurance premiums are influenced by these factors

Smart consumers have a good feel for some of the factors that aid in calculating the level of your policy premiums. When you understand what influences your rates, this empowers consumers to make smart changes that could result in cheaper rates. Multiple criteria are used in the calculation when premium rates are determined. Most are fairly basic such as your driving history, but other criteria are more obscure such as your credit history or your vehicle rating.

• File a insurance claims and pay more – If you frequently file small claims, you can pretty much guarantee much higher rates or policy non-renewal. Car insurance companies generally give better rates to policyholders who file claims infrequently. Your insurance policy is intended for major claims that would cause financial hardship.
• Incidental coverages may not be needed – There are a ton of additional extra coverages that may not really be needed if you aren’t diligent. Things like rental car coverage, towing coverage, and additional equipment coverage could be just wasting money. These may sound like a good investment when deciding what coverages you need, but your money might be better spent on other coverage so remove them from your policy.
• Bad credit hurts insurance rates – Credit history can be an important factor in calculating your car insurance rates. Drivers who have excellent credit scores tend to be better risks to insure as compared to drivers with lower credit scores. If your credit history can use some improvement, you could potentially save money when insuring your 1998 Jaguar XJR if you improve your credit rating.
• Accidents will cost you – Careful drivers get better rates compared to drivers with tickets. Even a single ticket can increase the cost of insurance by as much as thirty percent. Drivers who have received dangerous violations like DUI or reckless driving may find that they have to to maintain a SR-22 to the state department of motor vehicles in order to continue driving.
• Don’t skimp on liability – The liability section of your policy kicks in if you are responsible for physical damage or personal injury to other. It will provide legal defense coverage which can be incredibly expensive. Liability insurance is pretty cheap compared to other policy coverages, so do not cut corners here.

Use discounts on insurance

Some insurers do not list all disounts very well, so the list below gives a summary of a few of the more well known and the more hidden credits that may apply to you.

• Braking Control Discount – Anti-lock brake equipped vehicles prevent accidents and qualify for as much as a 10% discount.
• E-sign Discounts
• Mature Driver Discount – Older drivers can possibly qualify for a small decrease in premiums on XJR coverage.
• Driver Safety – Passing a class that teaches safe driver techniques could possibly earn you a 5% discount depending on where you live.
• Seat Belt Discounts – Using a seat belt and requiring all passengers to buckle up before driving can save up to 10 percent (depending on the company) off the personal injury premium cost.
• Early Signing – A few insurance companies offer discounts for renewing your policy prior to your current policy expiration. You may see this discount when you get insurance quotes online.
• Pay Now and Pay Less – By paying your policy upfront instead of paying each month you can avoid monthly service charges.
• Own a Home and Save – Just owning your own home can save a few bucks since owning and maintaining a home requires personal responsibility.

Discounts save money, but please remember that most discount credits are not given to all coverage premiums. Most only reduce the price of certain insurance coverages like comp or med pay. If you do the math and it seems like all those discounts means the company will pay you, companies wouldn’t make money that way.

For a list of insurance companies with the best discounts, click this link.

Tailor your auto insurance coverage to you

When it comes to buying the right insurance coverage, there isn’t really a cookie cutter policy. Everyone’s needs are different so your insurance needs to address that. Here are some questions about coverages that may help you determine whether your personal situation might need professional guidance.

• Is a fancy paint job covered?
• Do I pay less if my vehicle is kept in my garage?
• Am I covered when delivering products for my home-based business?
• What vehicles should carry emergency assistance coverage?
• What is UM/UIM insurance?
• Can I rent a car in Mexico?
• Can I pay claims out-of-pocket if I buy high deductibles?
• Why am I required to buy liability insurance?

If it’s difficult to answer those questions, then you may want to think about talking to an agent. If you don’t have a local agent, take a second and complete this form or click here for a list of auto insurance companies in your area.

Car insurance coverage specifics

Having a good grasp of your car insurance policy can help you determine the right coverages for your vehicles. Car insurance terms can be impossible to understand and coverage can change by endorsement. These are typical coverages available from car insurance companies.

Liability insurance

This protects you from damages or injuries you inflict on other people or property by causing an accident. This insurance protects YOU from claims by other people, and does not provide coverage for damage sustained by your vehicle in an accident.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show liability limits of 25/50/25 that translate to a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and a total limit of $25,000 for damage to vehicles and property. Some companies may use one number which is a combined single limit which combines the three limits into one amount rather than limiting it on a per person basis.

Liability coverage pays for claims such as repair bills for other people’s vehicles, attorney fees and loss of income. How much liability should you purchase? That is a decision to put some thought into, but buy higher limits if possible.

Comprehensive coverages

This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage pays for things like hitting a deer, damage from flooding, vandalism and rock chips in glass. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Uninsured and underinsured coverage

This coverage provides protection when other motorists either are underinsured or have no liability coverage at all. It can pay for medical payments for you and your occupants and also any damage incurred to your 1998 Jaguar XJR.

Since a lot of drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Most of the time your uninsured/underinsured motorist coverages are set the same as your liablity limits.

Coverage for medical payments

Med pay and PIP coverage provide coverage for immediate expenses such as hospital visits, prosthetic devices, dental work and nursing services. The coverages can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. They cover not only the driver but also the vehicle occupants as well as being hit by a car walking across the street. PIP is not available in all states and gives slightly broader coverage than med pay

Collision insurance

Collision insurance will pay to fix damage to your XJR from colliding with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.

Collision coverage protects against things such as hitting a mailbox, damaging your car on a curb and colliding with a tree. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. It’s also possible to choose a higher deductible to save money on collision insurance.

Be a penny pincher

Throughout this article, we presented a lot of ways to lower your 1998 Jaguar XJR insurance prices. The key thing to remember is the more you quote insurance, the higher the chance of saving money. You may be surprised to find that the best price on insurance is with a company that doesn’t do a lot of advertising. Smaller companies often have lower rates on specific markets compared to the large companies like State Farm or Progressive.

As you go through the steps to switch your coverage, do not buy less coverage just to save a little money. In many instances, an accident victim reduced physical damage coverage only to find out that the savings was not a smart move. Your goal should be to buy enough coverage at an affordable rate while still protecting your assets.

To read more, take a look at the articles below:

• Teen Driver Licensing Information (iihs.org)
• Choosing a Car for Your Teen (State Farm)
• Uninsured Motorists: Threats on the Road (Insurance Information Insitute)
• Child Safety Seats (Insurance Information Insitute)