Did a good deal turn into an expensive car insurance policy? You’re in good company because there are many drivers thinking the same thing.
Numerous car insurance companies battle for your insurance dollar, and because of this it can be hard to compare insurers to get the lowest price
It’s important to compare rates occasionally because insurance prices change quite often. If you had the best rates for CTS-V coverage six months ago there is a good chance you can find better rate quotes now. Forget anything you know (or think you know) about car insurance because we’re going to show you the only way to save on car insurance.
When shopping for cheaper auto insurance quotes, there are a couple of ways of comparing price quotes from all the different companies. One of the best ways to comparison shop involves getting comparison quotes online. This can be done in several different ways.
Which method you use is up to you, but make sure you use equivalent coverage limits and deductibles on every price quote you get. If you compare unequal deductibles or liability limits you will not be able to determine which rate is truly the best. Having just a slight variation in insurance coverages or limits may result in large price differences. Keep in mind that more quotes helps improve the odds of finding the best offered rates. Not every company does quotes online, so it’s important to compare price estimates on coverage from those companies, too.
Some insurers don’t always list every available discount very well, so the following is a list of both well-publicized and the more hidden ways to save on auto insurance.
A little disclaimer on discounts, most of the big mark downs will not be given to all coverage premiums. Most only cut individual premiums such as collision or personal injury protection. So when it seems like all the discounts add up to a free policy, that’s just not realistic. But all discounts will positively reduce your premiums.
A list of auto insurance companies and a summarized list of policyholder discounts include:
If you are trying to find the cheapest auto insurance quotes, ask every company how many discounts you can get. Some discounts listed above may not be available everywhere. To choose providers with significant discounts, click here.
When it comes to buying adequate coverage, there isn’t really a perfect coverage plan. Every insured’s situation is different so your insurance needs to address that. For instance, these questions may help you determine whether your personal situation could use an agent’s help.
If you can’t answer these questions but you think they might apply to your situation then you might want to talk to an insurance agent. To find an agent in your area, complete this form or go to this page to view a list of companies.
One of the most helpful ways to save on insurance is to to have a grasp of the rating factors that help determine the level of your policy premiums. If you have some idea of what determines premiums, this enables informed choices that will entitle you to big savings. Many different elements are used in the calculation when you quote your car insurance policy. Some are obvious such as traffic violations, but other criteria are not as apparent such as your marital status and annual miles driven.
The list below includes some of the factors insurance companies consider when setting your premiums.
Learning about specific coverages of your policy helps when choosing the best coverages and proper limits and deductibles. The terms used in a policy can be confusing and even agents have difficulty translating policy wording. Shown next are the usual coverages offered by car insurance companies.
This pays for damage to your CTS-V caused by collision with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.
Collision can pay for claims like sideswiping another vehicle, crashing into a building and damaging your car on a curb. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. Another option is to bump up the deductible in order to get cheaper collision rates.
Uninsured Motorist or Underinsured Motorist insurance
Your UM/UIM coverage provides protection from other motorists when they either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your 2017 Cadillac CTS-V.
Due to the fact that many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. So UM/UIM coverage is important protection for you and your family. Usually these coverages are similar to your liability insurance amounts.
Insurance for medical payments
Medical payments and Personal Injury Protection insurance kick in for immediate expenses for EMT expenses, rehabilitation expenses, funeral costs, dental work and nursing services. They are often used in conjunction with a health insurance plan or if you do not have health coverage. Medical payments and PIP cover both the driver and occupants as well as if you are hit as a while walking down the street. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage
Comprehensive coverage (or Other than Collision)
Comprehensive insurance covers damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.
Comprehensive can pay for things such as fire damage, damage from flooding and theft. The highest amount you can receive from a comprehensive claim is the actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Liability coverage protects you from damages or injuries you inflict on a person or their property that is your fault. This insurance protects YOU from legal claims by others, and doesn’t cover your injuries or vehicle damage.
Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 100/300/100 that means you have a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000. Occasionally you may see a combined single limit or CSL which provides one coverage limit without having the split limit caps.
Liability coverage protects against claims such as medical services, emergency aid, repair costs for stationary objects, court costs and structural damage. How much coverage you buy is your choice, but it’s cheap coverage so purchase as much as you can afford.
As you restructure your insurance plan, never buy poor coverage just to save money. In many cases, consumers will sacrifice comprehensive coverage or liability limits to discover at claim time that a couple dollars of savings turned into a financial nightmare. Your focus should be to purchase a proper amount of coverage at a price you can afford while not skimping on critical coverages.
A few companies may not offer rate quotes online regional carriers work with independent agents. More affordable auto insurance is possible both online as well as from independent agents, so you should compare both to get a complete price analysis.
Additional auto insurance information is located on the following sites:
Does 21st Century use ACV or replacement cost?
Corporate greed I’m telling you. I’m in the east part of Spokane, Washington. Received rates from GEICO, AIG Insurance, Eastwood, and Hartford for my CTS-V and I think I saved around $60 each month. :)
I’ve insured with Allstate for a long time. Pretty cheap in Cranston, Rhode Island.
I live on the west side of Houston, TX. I quoted with State Farm, GMAC, and Esurance for my 2017 Cadillac CTS-V and am saving around $510 a year. Have a couple speeding tickets too.
Great site. From northwest of Baltimore, MD. I compared lots of rates. Saved roughly $60 a month. Progressive was the cheapest option for me. Insured with State Farm before. Wish I didn’t have to insure at all.
Any claims experience with GEICO in Detroit, Michigan?
From a town just southwest of Hilo, Hawaii. Quoted with Allstate, AAA, and Erie for my 2017 Cadillac CTS-V and saved $478 a year. Was with Auto-Owners. Have an at-fault accident tho. :P
I live just outside Rutland, Vermont. Quoted a bunch of companies. Saved roughly $60 a month. 21st Century was the cheapest option for me.
I live in Dover, Delaware. Quoted with State Farm, Auto-Owners, and Esurance for my CTS-V and I’m now saving $43 a month. I’m a pretty good driver though.
Checking in from Minneapolis, MN. I got free rates from Auto-Owners, Esurance, and Mercury for my CTS-V and saved just over $220 a year. Left Hartford to switch. I quoted rates online then called them.
Just a quick comment on my experience. Live in the southern part of Manchester, NH. Can’t remember who all I quoted but I ended up saving about $30 each month. Insured with MetLife before. Still almost need a second mortgage.
Proud to be from Salem, Oregon. Quoted with Travelers, Auto-Owners, The General, and Sentry for my Cadillac and I think I saved about $50 each month.
Like your site, BTW. I live on the north side of Henderson, Nevada. Compared rates from a lot of places. Saved roughly $20 a month. 21st Century was the cheapest for me.
Located in Bangor, ME. Got quotes from AAA, Mercury, and Travelers for my Cadillac and saved just over $480 a year. Insured with Hartford before. I have kids on my policy, too. I used their website to get prices.