Expensive auto insurance can dwindle your personal savings and make it hard to pay other bills. Comparing price quotes is free, only takes a few minutes, and is a good way to tighten up your finances. Big-name insurance companies like State Farm, Progressive and GEICO all promote huge savings with catchy ads and it is difficult to ignore the flying pigs and cute green geckos and find the best price available.
Compare the Market for Auto Insurance
Shopping for lower auto insurance rates can be a daunting task if you don’t understand the easiest way. You could spend the better part of a day talking to agents in your area, or you could use the internet to get rates in a matter of minutes.
The majority of car insurance companies belong to an insurance system where insurance shoppers submit one quote, and every company then gives them pricing based on that information. This eliminates the need for quote requests to each individual auto insurance company. To fill out one form to compare multiple rates now click here to start a free quote.
The single downside to pricing coverage this way is that consumers can’t choose which providers to get quotes from. If you prefer to choose individual companies to compare, we have assembled a list of the cheapest auto insurance companies in your area. Click to view list.
It’s up to you which method you use, but double check that you are using apples-to-apples coverages with every price quote. If you have unequal deductibles or liability limits it will be next to impossible to make a fair comparison for your Cadillac XLR.
These discounts can slash auto insurance rates
Companies offering auto insurance don’t list all their discounts in a way that’s easy to find, so we break down some of the more common and the more hidden ways to save on auto insurance. If you aren’t receiving every discount possible, you’re just leaving money on the table.
- Discount for Swiching Early – Select companies give a discount for switching policies before your current expiration date. The savings is around 10%.
- Memberships – Participating in a qualifying organization may earn a discount on your policy on XLR insurance.
- No Charge for an Accident – A few companies will forgive one accident before hitting you with a surcharge if you are claim-free prior to the accident.
- Military Discounts – Being deployed with a military unit could be rewarded with lower premiums.
- Drive Less and Save – Keeping the miles down on your Cadillac could qualify for discounted rates on garaged vehicles.
- Discount for Good Grades – This discount can get you a discount of up to 25%. Earning this discount can benefit you up until you turn 25.
- Life Insurance Discount – Companies who offer life insurance give a break if you buy auto and life insurance together.
- New Vehicle Savings – Adding a new car to your policy can save up to 30% compared to insuring an older model.
- Drive Safe and Save – Drivers who don’t get into accidents can get discounts for up to 45% lower rates on XLR insurance than less cautious drivers.
As a disclaimer on discounts, many deductions do not apply to the entire cost. Some only apply to the price of certain insurance coverages like collision or personal injury protection. So when it seems like it’s possible to get free car insurance, it doesn’t quite work that way.
To see a list of companies who offer auto insurance discounts, click this link.
What determines your Cadillac XLR insurance premium
It’s important that you understand the different types of things that help determine auto insurance rates. When you know what positively or negatively determines base rates enables informed choices that may reward you with better auto insurance rates.
- Women pay lower rates – Statistics demonstrate women are more cautious behind the wheel. However, don’t assume that women are BETTER drivers than men. Men and women are in accidents at a similar rate, but the male of the species cause more damage and cost insurance companies more money. Men also tend to have more aggressive citations like reckless driving and DUI.
- Poor driving leads to higher costs – A bad driving record has a lot to do with how much you pay for insurance. Drivers with clean records get better rates than people who have multiple driving citations. Only having one citation may increase your cost by twenty percent. If you have severe violations like hit and run, DWI or reckless driving convictions may find they need to submit a SR-22 or proof of financial responsibility with their state motor vehicle department in order to drive a vehicle legally.
- Do you need those extra coverages? – There are many add-on coverages that you can get tricked into buying if you aren’t careful. Things like vanishing deductibles, accidental death and membership fees may be wasting your money. They may seem good at first, but your needs may have changed so remove them from your policy.
- Pay less after the wedding – Being married helps lower the price on your auto insurance policy. Having a significant other usually means you are more mature than a single person and it’s proven that married drivers get in fewer accidents.
- Where you live – Residing in a small town is a positive aspect when insuring your vehicles. Drivers in populated areas tend to have more traffic problems and a longer drive to work. Lower population means fewer accidents.
- Clean credit earns discounts – Having a bad credit history is a huge factor in your rate calculation. Therefore, if your credit history is not that good, you could pay less to insure your Cadillac XLR by repairing your credit. People with high credit ratings tend to be more responsible than drivers who have lower credit scores.
- Do you have enough liability coverage? – Liability insurance is the coverage that protects you if ever a court rules you are at fault for causing damage or personal injury in an accident. Liability provides you with a defense in court which can cost thousands of dollars. This coverage is very inexpensive compared to physical damage coverage, so do not skimp.
More effort can pay off
Low-cost Cadillac XLR insurance is possible online and with local insurance agents, so compare prices from both to get a complete price analysis. Some insurance providers do not offer online price quotes and usually these small insurance companies provide coverage only through local independent agents.
When buying insurance coverage, it’s a bad idea to reduce coverage to reduce premium. In many instances, someone dropped collision coverage only to discover later they didn’t have enough coverage. The ultimate goal is to buy the best coverage you can find at a price you can afford, not the least amount of coverage.