How Much Does 2002 Volkswagen GTI Car Insurance Cost?

No one loves paying for car insurance, especially knowing they could find better prices if they shop around. Drivers have multiple insurance companies to choose from, and although it’s nice to have a selection, too many choices makes it more difficult to compare rates and find the lowest cost car insurance.

Quote insurance online

Shopping for lower insurance rates can be a lot of work if you aren’t aware of the easiest way. You could waste a few hours driving to agents in your area, or you can utilize online quotes to get prices fast.

Many companies belong to a marketplace that enables customers to only type in their quote data once, and each company then gives them pricing. This prevents consumers from doing quote requests for each company.

To access this free quoting program, click here to open in new window.

The single downside to using this type of system is you can’t choose the companies you want pricing from. If you wish to select specific insurance companies for rate comparison, we have assembled a list of low cost insurance companies in your area. Click to view list.

How you compare quotes is your choice, just make absolute certain that you use nearly identical information on every price quote you get. If each company quotes different data it’s impossible to find the best deal for your Volkswagen GTI.

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Drivers can save with these rate-reducing discounts

Insuring your vehicles can cost a lot, but you might be missing out on some discounts that can drop the cost substantially. Larger premium reductions will be automatically applied at the time you complete a quote, but a few need to be specifically requested prior to receiving the credit.

• Multi-car Discount – Purchasing coverage when you have primary and secondary vehicles on one policy qualifies for this discount.
• Defensive Driver Discounts – Passing a course teaching safe driver skills is a good idea and can lower rates if your company offers it.
• Smart Student Discounts – Excelling in school could provide a savings of up to 20% or more. The discount lasts until age 25.
• Theft Prevention Discount – Cars and trucks equipped with anti-theft or alarm systems are less likely to be stolen and earn discounts up to 10% off your auto insurance quote.
• Passive Restraints and Air Bags – Cars that have air bags and/or automatic seat belt systems can get savings of 20 to 30 percent.
• Homeowners Pay Less – Being a homeowner can save you money because maintaining a house requires a higher level of personal finance.
• Distant Student – Kids who live away from home to go to college and do not take a car to college could qualify for this discount.
• Accident Waiver – This one isn’t a discount, but a few companies such as Allstate and State Farm permit an accident before hitting you with a surcharge as long as you don’t have any claims for a specific time period.

One thing to note about discounts is that most credits do not apply to your bottom line cost. Some only apply to the price of certain insurance coverages like comprehensive or collision. Just because it seems like you can get free auto insurance, that’s just not realistic. But all discounts will definitely reduce the amount you have to pay.

A list of companies and some of the discounts are detailed below.

• Geico offers discounts including membership and employees, multi-vehicle, anti-lock brakes, seat belt use, and daytime running lights.
• SAFECO may offer discounts for teen safety rewards, accident prevention training, drive less, anti-lock brakes, and multi-car.
• State Farm offers discounts for safe vehicle, student away at school, Drive Safe & Save, good student, Steer Clear safe driver discount, driver’s education, and anti-theft.
• MetLife policyholders can earn discounts including claim-free, multi-policy, good student, defensive driver, good driver, accident-free
• 21st Century may include discounts for teen driver, student driver, driver training, automatic seat belts, early bird, and defensive driver.
• Progressive has discounts for homeowner, multi-policy, online signing, online quote discount, and multi-vehicle.

When quoting, ask every prospective company which credits you are entitled to. Some discounts listed above may not apply in your area. To choose insurance companies who offer auto insurance discounts, click here to view.

Do I need special coverages?

When buying coverage, there isn’t really a one size fits all plan. Every situation is different so your insurance needs to address that. Here are some questions about coverages that can help discover if your situation might need an agent’s assistance.

• Do I need replacement cost coverage?
• Can my babysitter drive my car?
• How high should deductibles be on a 2002 Volkswagen GTI?
• How high should my uninsured/underinsured coverage be in my state?
• Is pleasure use cheaper than using my 2002 Volkswagen GTI to commute?
• Does my policy cover me when driving someone else’s vehicle?
• Where can I get insurance after a DUI in my state?

If you can’t answer these questions, then you may want to think about talking to an insurance agent. To find an agent in your area, fill out this quick form or go to this page to view a list of companies. It is quick, free and may give you better protection.

Find cheap insurance coverage with these tips

Part of the insurance coverage buying process is learning the rating factors that are used to determine your premiums. When you understand what determines base rates, this allows you to make educated decisions that can help you get cheaper rates.

The factors shown below are a few of the “ingredients” used by companies to determine prices.

• Allowing your insurance coverage to lapse raises prices – Allowing your insurance coverage policy to lapse will be a fast way to bump up your insurance coverage costs. And not only will insurance be more expensive, being ticketed for driving with no insurance will get you fines or a revoked license.
• Pay less after the wedding – Being married actually saves money on your insurance coverage policy. Having a significant other may mean you are less irresponsible and it’s statistically proven that married drivers get in fewer accidents.
• Vehicle options can affect prices – Choosing a vehicle with a theft deterrent system can save you some money. Theft prevention features like GM’s OnStar, tamper alarm systems and vehicle immobilizers all aid in stopping auto theft and help lower rates.
• High deductibles cost less – Physical damage coverage, termed comprehensive and collision coverage on your policy, covers your vehicle from damage. Some coverage claims are colliding with a building, damage caused by hail, and windstorm damage. Deductibles for physical damage represent how much money you are required to pay if the claim is covered. The more money you choose to pay out-of-pocket, the bigger discount you will receive on GTI insurance.
• Multiple policies with one company can save – Most insurance coverage companies will give discounts to policyholders that have more than one policy in the form of a multi-policy discount. If you currently are using one company, you may still want to shop around to confirm you are receiving the best rates possible. Consumers may find better rates even if you have your coverage with different companies
• Use but don’t abuse your insurance – Insurance companies provide most affordable rates to policyholders who file claims infrequently. If you tend to file frequent claims, you can expect either a policy non-renewal or much higher rates. Your insurance policy is meant to be used in the event of major claims that would cause financial hardship.
• High credit scores equal low premiums – Credit rating is a large factor in your rate calculation. People with good credit tend to be more responsible and file fewer claims than those with lower credit ratings. So if your credit could use some work, you could potentially save money when insuring your 2002 Volkswagen GTI by improving your credit score.

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Parts of your auto insurance policy

Having a good grasp of your auto insurance policy can help you determine the best coverages for your vehicles. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording. These are typical coverage types offered by auto insurance companies.

Comprehensive (Other than Collision)

This will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like rock chips in glass, falling objects and damage from flooding. The highest amount you’ll receive from a claim is the actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Collision coverage

This will pay to fix damage to your GTI from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage protects against things such as colliding with a tree, driving through your garage door, sustaining damage from a pot hole and sideswiping another vehicle. This coverage can be expensive, so consider removing coverage from older vehicles. It’s also possible to choose a higher deductible to save money on collision insurance.

Medical expense insurance

Med pay and PIP coverage pay for bills for things like dental work, hospital visits, surgery, pain medications and prosthetic devices. They are often used to fill the gap from your health insurance policy or if you lack health insurance entirely. It covers you and your occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Protection from uninsured/underinsured drivers

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.

Since many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea. Usually these limits are identical to your policy’s liability coverage.

Liability

This coverage will cover damage or injury you incur to other’s property or people in an accident. It protects YOU from claims by other people, and doesn’t cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see policy limits of 50/100/50 that means you have a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000. Alternatively, you may have one limit called combined single limit (CSL) that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability insurance covers claims like medical expenses, repair bills for other people’s vehicles, emergency aid, loss of income and structural damage. How much coverage you buy is a personal decision, but consider buying as high a limit as you can afford.

Online plus local equals savings

Budget-conscious 2002 Volkswagen GTI insurance can be sourced from both online companies as well as from insurance agents, and you need to comparison shop both to have the best selection. Some insurance providers may not provide price quotes online and these small, regional companies sell through local independent agents.

As you prepare to switch companies, you should never buy lower coverage limits just to save a few bucks. In too many instances, an accident victim reduced full coverage only to discover later that they should have had better coverage. Your objective should be to get the best coverage possible at a price you can afford but still have enough coverage for asset protection.

We just showed you a lot of information how to lower your 2002 Volkswagen GTI insurance rates. The key thing to remember is the more times you quote, the better chance you’ll have of finding low cost auto insurance. Consumers may even find the lowest rates are with a small local company. Regional companies often have lower car insurance rates on specific markets as compared to the big name companies such as Allstate or State Farm.

More information can be read at the links below

• Smart Auto Insurance Tips (Insurance Information Insitute)
• Rental Reimbursement Coverage (Allstate)
• Preventing Carjacking and Theft (Insurance Information Insitute)
• Airbag FAQ (iihs.org)
• Older Drivers FAQ (iihs.org)

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