Lower Your 2017 Cadillac CTS-V Car Insurance Rates

Overwhelmed by the wide range of insurance coverage companies that you can choose from? There are so many companies available that it is a chore to lower your premium rates.

Discounts for affordable insurance coverage rates

The price of auto insurance can be rather high, but there could be available discounts to help offset the cost. Some discounts apply automatically at quote time, but a few need to be specially asked for before being credited.

• First Accident Forgiveness – Not necessarily a discount, but a handful of insurance companies allow you one accident without raising rates as long as you don’t have any claims before the accident.
• Paperless Signup – Certain companies give back up to $50 for buying your policy over the internet.
• Active Service Discounts – Being on active deployment in the military may lower your prices slightly.
• Savings for New Vehicles – Putting insurance coverage coverage on a new car may earn a small discount since new vehicles have better safety ratings.
• Student Discount for Driver Training – Reduce the cost of insurance for teen drivers by having them enroll in driver’s education if it’s offered in school.
• Distant Student – who are enrolled in a college that is more than 100 miles from home without a vehicle on campus may be insured at a cheaper rate.
• Anti-lock Brakes – Anti-lock brake equipped vehicles have fewer accidents and therefore earn up to a 10% discount.
• Save over 55 – If you’re over the age of 55, you could receive a small decrease in premiums for CTS-V coverage.
• Good Driver Discount – Insureds without accidents can pay as much as 50% less for CTS-V coverage compared to accident prone drivers.

It’s important to understand that some of the credits will not apply to your bottom line cost. Some only reduce the cost of specific coverages such as comprehensive or collision. Just because it seems like you would end up receiving a 100% discount, insurance companies wouldn’t stay in business.

A partial list of companies who may offer most of the discounts above may include but are not limited to:

• Esurance
• The Hartford
• AAA
• Geico
• State Farm

When getting free insurance coverage quotes, it’s a good idea to each insurance company what discounts are available to you. Depending on the company, some discounts may not apply in your area. If you would like to choose from a list of insurers that offer the discounts shown above, click here.

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How do car insurance companies determine Cadillac CTS-V insurance rates?

Consumers need to have an understanding of the different types of things that help calculate the level of your policy premiums. If you have some idea of what determines premiums, this helps enable you to make changes that may result in big savings.

Listed below are some of the major factors utilized by car insurance companies to help set premiums.

• Deter theft and pay less – Choosing a vehicle with anti-theft technology or alarm system can help bring down rates. Theft prevention features such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems can help prevent your vehicle from being stolen.
• Prices can change based on your address – Residing in small towns and rural areas has it’s advantages when insuring your vehicles. Less people translates into fewer accidents and a lower car theft rate. Drivers who live in large cities regularly have more aggressive driving styles and much longer commute distances. More time commuting means higher likelihood of an accident.
• Always keep your auto insurance policy in place – Allowing your auto insurance policy to lapse will be a sure-fire way to increase your auto insurance rates. Not only will you pay higher rates, being ticketed for driving with no insurance could earn you a fine, jail time, or a revoked license.
• Adjust physical damage deductibles and save – Physical damage protection, also called ‘full coverage’, protects your Cadillac from damage. Examples of covered claims could be collision with another vehicle, damage caused by hail, and burglary. Deductibles for physical damage represent how much money the insured will be required to pay if the claim is covered. The more expense you are required to pay out-of-pocket, the lower your rates will be for CTS-V coverage.
• Extra policy coverages you don’t use – There are many optional add-on coverages you can purchase but may not be useful. Coverages for rental car coverage, death and dismemberment, and Farm Bureau memberships are probably not needed. You may think they are a good idea initially, but if you don’t need them consider taking them off your policy.
• Insurance premiums and driver gender – Statistics demonstrate women are more cautious behind the wheel. That doesn’t necessarily mean that men are worse drivers. Women and men are in accidents at about the same rate, but the men tend to have higher claims. Not only that, but men also get cited for more serious violations like DWI (DUI) or reckless driving. Male teenagers generally have the highest accident percentage so they pay the highest premiums.

Tailor your auto insurance coverage to you

When it comes to buying the right insurance coverage, there really is not a cookie cutter policy. Coverage needs to be tailored to your specific needs.

For instance, these questions could help you determine if your situation will benefit from professional help.

• Does my insurance cover a custom paint job?
• Why am I required to buy high-risk coverage?
• When does my teenage driver need to be added to my policy?
• How much liability insurance is required?
• Does medical payments coverage apply to all occupants?
• Will my vehicle be repaired with OEM or aftermarket parts?
• Is my 2017 Cadillac CTS-V covered for smoke damage?
• How many claims can I have before being cancelled?
• Will my rates increase for filing one claim?
• At what point should I drop full coverage?

If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to a licensed agent. To find lower rates from a local agent, take a second and complete this form.

Will you really save $487 on car insurance?

Well-known car insurance companies like Progressive, Allstate and Geico endlessly run television, radio, and online ads. They all tend to make the same promise that you can save if you move your policy. It sounds good, but how can they all charge lower premium rates?

Different companies offer their best rates for the type of driver they prefer to insure. For example, a desirable insured might be over the age of 40, has had continuous coverage, and has a high credit rating. A customer that matches those criteria will qualify for the lowest premium rates and will most likely save a lot of money.

Potential customers who do not meet these criteria will probably have to pay higher premium rates which leads to the customer not purchasing. The trick is to say “customers who switch” but not “everyone who gets a quote” save money. That’s why companies can advertise the savings. Different companies use different criteria so you really should do a quote comparison often. It’s just not possible to know with any certainty which company will provide the lowest prices.

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Detailed coverages of your auto insurance policy

Learning about specific coverages of your auto insurance policy can be of help when determining the best coverages and the correct deductibles and limits. Policy terminology can be confusing and coverage can change by endorsement.

Liability coverage

Liability coverage will cover damages or injuries you inflict on other’s property or people by causing an accident. This coverage protects you from legal claims by others, and doesn’t cover damage to your own property or vehicle.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see policy limits of 100/300/100 that means you have $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000.

Liability coverage protects against things like loss of income, medical services, attorney fees and repair costs for stationary objects. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase as large an amount as possible.

Uninsured and underinsured coverage

Your UM/UIM coverage gives you protection from other drivers when they either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family as well as damage to your Cadillac CTS-V.

Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. So UM/UIM coverage should not be overlooked.

Comprehensive coverages

This will pay to fix damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive can pay for claims such as rock chips in glass, a broken windshield, damage from a tornado or hurricane, damage from flooding and theft. The highest amount a auto insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.

Collision protection

This pays for damage to your CTS-V from colliding with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.

Collision can pay for claims such as scraping a guard rail, sustaining damage from a pot hole and driving through your garage door. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from lower value vehicles. Another option is to bump up the deductible to bring the cost down.

Coverage for medical payments

Personal Injury Protection (PIP) and medical payments coverage kick in for bills for prosthetic devices, doctor visits and funeral costs. They are used in conjunction with a health insurance policy or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

The bottom line

People leave their current company for a variety of reasons including extreme rates for teen drivers, not issuing a premium refund, an unsatisfactory settlement offer and poor customer service. Whatever your reason, finding a great new company is not as difficult as it may seem.

Budget-conscious 2017 Cadillac CTS-V insurance can be bought from both online companies in addition to many insurance agents, so you need to quote insurance coverage with both to have the best rate selection. Some car insurance companies may not offer the ability to get quotes online and these smaller companies only sell coverage through independent agents.

When getting insurance coverage quotes online, it’s not a good idea to reduce coverage to reduce premium. In many cases, drivers have reduced uninsured motorist or liability limits only to find out that the small savings ended up costing them much more. The ultimate goal is to buy the best coverage you can find at an affordable rate, but don’t skip important coverages to save money.

More detailed car insurance information can be found by following these links:

• How Does Hitting a Deer Impact Insurance Rates? (Allstate)
• Information for Teen Drivers (Geico)
• Electronic Stability Control FAQ (iihs.org)
• Comprehensive Coverage (Liberty Mutual)

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