Save on Cadillac CTS-V Insurance in Philadelphia

How many times have you said it’s time to compare cheaper Cadillac CTS-V insurance in Philadelphia? If you are new to getting Philadelphia auto insurance quotes online, you can easily be overwhelmed due to the large selection of auto insurance companies that all promise the best rates for Cadillac CTS-V insurance in Philadelphia.

Astonishing but true according to a recent study, most auto insurance buyers have stayed with the same insurance company for four years or more, and just under half have never shopped around. Pennsylvania insurance shoppers can save hundreds of dollars each year by just comparing rate quotes, but most just don’t grasp the benefits if they changed companies.

It’s important to shop coverage around before your next renewal because auto insurance prices tend to go up over time. Just because you found the best quotes on Cadillac CTS-V insurance in Philadelphia six months ago you may be paying too much now. Ignore everything you know about auto insurance because you’re about to learn the best way to find better rates and still maintain coverage.

Finding the cheapest auto insurance coverage in Philadelphia is really quite easy. Practically every driver who quotes auto insurance will most likely be able to lower their premiums. Although Pennsylvania car owners can benefit by having an understanding of the methods companies use to determine how much to charge and use it to your advantage.

Most major insurance companies like 21st Century, Allstate and State Farm provide coverage price quotes directly from their websites. This process is easy for anyone as you just enter the coverages you want into a form. Once you submit the form, their rating system pulls reports for credit and driving violations and provides a quote based on many factors.

Getting online price quotes for Cadillac CTS-V insurance in Philadelphia helps simplify price comparisons, and it’s absolutely necessary to have as many quotes as possible in order to find the lowest payment possible.

To save time and find out how much you’re overpaying now, check out the auto insurance providers below. If you have your current policy handy, we recommend you type in your coverages as shown on your current policy. This makes sure you will receive a fair comparison for similar insurance coverage.

The providers in the list below are ready to provide quotes in Philadelphia, PA. If multiple companies are listed, it’s a good idea that you click on several of them to find the most affordable auto insurance rates.

Affordable rates by receiving these nine discounts

The cost of insuring your cars can be expensive, but you can get discounts that many consumers don’t even know exist. Some discounts will apply at quote time, but lesser-known reductions have to be specifically requested before being credited. If you check and find you aren’t receiving every discount available, you’re paying more than you need to.

• Claim-Free Discount – Good drivers with no accidents pay less when compared with drivers who are more careless.
• Student in College – College-age children who are attending college without a vehicle on campus could qualify for this discount.
• Discounts for Seat Belt Usage – Buckling up and requiring all passengers to use a seat belt can save up to 15% on medical payment and PIP coverage.
• Early Switch Discount – A few larger companies give discounts for switching policies prior to the expiration date on your current CTS-V insurance policy. It could save around 10% when you buy Philadelphia auto insurance online.
• Anti-lock Brake Discount – Cars with ABS and/or traction control are much safer to drive and will save you 10% or more on CTS-V insurance in Philadelphia.
• Passenger Safety Discount – Factory options such as air bags and/or automatic seat belt systems could see savings of up to 25% or more.
• Life Insurance Discount – Auto insurance companies who offer life insurance give a lower auto insurance rate if you buy a life insurance policy as well.
• Bundle and Save – If you have multiple policies and insure them both with the same insurance company you could earn a discount of over 10 percent off each policy depending on the company.
• Discount for Low Mileage – Driving less could qualify for cheaper rates.

Discounts reduce rates, but you should keep in mind that some of the credits will not apply to your bottom line cost. Most only cut specific coverage prices like collision or personal injury protection. So even though it sounds like adding up those discounts means a free policy, it just doesn’t work that way.

The information below shows the comparison of Cadillac CTS-V premium costs with and without discounts applied to the premium. The rates are based on a female driver, no violations or claims, Pennsylvania state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, marriage, multi-car, safe-driver, homeowner, and multi-policy discounts applied.

To locate companies that offer multiple discounts in Philadelphia, click this link.

Cadillac CTS-V insurance statistics and information

The coverage table below showcases different policy rates for Cadillac CTS-V models. Learning a little about how insurance rates are formulated is important for you to make smart policy decisions.

Data based on married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Pennsylvania minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, safe-driver, and homeowner. Rate quotes do not factor in garaging location in Philadelphia which can increase or decrease premium rates significantly.

An analysis of deductible level

A question often asked by Philadelphia drivers is how high or low should comp and collision deductibles be. The data tables below sum up the price difference when you buy lower versus higher physical damage deductibles. The first rate comparisons uses a $250 deductible for comp and collision and the second set of rates uses a $500 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Pennsylvania minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Price estimates do not factor in your specific Philadelphia location which can increase or decrease auto insurance rates greatly.

We can derive from the above data that using a $250 deductible will cost you about $20 more each month or $240 each year than opting for the higher $500 deductible. Since the policyholder would be required to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you tend to go at a minimum 13 months between claim filings, you would save more money by going with a higher deductible. Below is a better example of how you can make your own decision.

The illustration below shows how choosing a deductible and can impact Cadillac CTS-V insurance costs for different age groups. The prices are based on a single female driver, comprehensive and collision coverage, and no additional discounts are factored in.

Should you buy full coverage?

The example below illustrates the comparison of Cadillac CTS-V car insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Pennsylvania. The costs are based on a clean driving record, no claims, $1,000 deductibles, single marital status, and no discounts are taken into consideration.

When to stop buying full coverage

There isn’t a written rule for phasing out physical damage insurance, but there is a general convention. If the annual cost of comprehensive and collision coverage is more than about 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.

For example, let’s pretend your Cadillac CTS-V book value is $3,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would receive is $2,000 after paying the physical damage deductible. If you are paying over $200 a year for full coverage, the it may be a good time to stop paying for full coverage.

There are some cases where eliminating full coverage is not a good plan. If you have an outstanding loan on your vehicle, you have to maintain full coverage as part of the loan requirements. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should keep full coverage.

When should I get advice from an insurance agent?

A small number of people prefer to go talk to an agent. One of the great benefits of comparing insurance prices online is the fact that drivers can get lower rates and still have an agent to talk to.

By using this form (opens in new window), the coverage information is emailed to local insurance agents in Philadelphia who will give you quotes for your business. You don’t have to contact an agency because prices are sent immediately to you. You can find lower rates without requiring a lot of work. In the event you want to get a rate quote for a specific company, you can always find their quoting web page and give them your coverage information.

Selecting an insurance company is decision based upon more than just a cheap quote. You should also get answers to these questions.

• Does the quote include credit and driving reports?
• Do they review policy coverages at every renewal?
• Is auto insurance their primary focus in Philadelphia?
• Are they involved in claim handling?
• Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
• Do the coverages you’re quoting properly cover your vehicle?
• Is there a local claims center in Philadelphia?

If you want to buy insurance from a reliable agent, there are two different types of agencies and how they work. Agents in Philadelphia can be described as either independent or exclusive.

Exclusive Insurance Agencies

Exclusive agents write business for a single company and examples are Farmers Insurance, State Farm, or Allstate. These agents are not able to provide other company’s prices so you need to shop around if the rates are high. Exclusive agencies are usually quite knowledgeable in insurance sales and that allows them to sell at a higher price point. Consumers frequently buy from exclusive agents mainly due to the prominence of the brand rather than having low rates.

Below is a short list of exclusive insurance agents in Philadelphia that can give you comparison quotes.

• Kevin Lowber – State Farm Insurance Agent
  1347 E Hunting Park Ave – Philadelphia, PA 19124 – (215) 533-9010 – View Map
• Les Moore – State Farm Insurance Agent
  6750 N 5th St – Philadelphia, PA 19126 – (215) 224-4400 – View Map
• Vince Ovecka – State Farm Insurance Agent
  456 E Girard Ave – Philadelphia, PA 19125 – (215) 739-0800 – View Map

More insurance agents

Independent Agencies or Brokers

Independent agencies are not required to write business for one company so they can insure your vehicles through many different insurance companies and find the cheapest insurance rates. To transfer your coverage to a different company, they simply switch companies in-house and you won’t have to switch agencies. When comparing rate quotes, you will definitely want to get some free quotes from at a minimum one independent agency for the best price selection. They often place coverage with small mutual carriers which may provide better rates.

Below is a list of independent insurance agents in Philadelphia willing to provide price quotes.

• Kowalewski Jawork Insurance Agency Inc
  706 S 5th St – Philadelphia, PA 19147 – (215) 922-1222 – View Map
• Burg Insurance
  2707 Kirkbride St – Philadelphia, PA 19137 – (215) 744-4100 – View Map
• First Rate Insurance
  7790 Rockwell Ave Suite 1 – Philadelphia, PA 19111 – (215) 725-6700 – View Map

More insurance agents

Upon receiving positive responses as well as a affordable price, it’s possible that you found an insurance agent that will properly service your insurance policy. Just keep in mind you are entitled to cancel a policy when you choose so never assume you’re contractually obligated to the insurance policy for a certain time period.

Special considerations

When quoting and comparing the right insurance coverage, there really is not a perfect coverage plan. Your financial needs are unique so your insurance needs to address that.
Here are some questions about coverages that can aid in determining whether your personal situation would benefit from professional advice.

• Does my insurance cover my expensive audio equipment?
• Am I covered if I break a side mirror?
• Is my camper covered for physical damage?
• Why are teen drivers so expensive to add on to my policy?
• Can good grades get a discount?
• Do I have coverage when using my vehicle for my home business?
• Am I covered when driving a rental car?

If you’re not sure about those questions, then you may want to think about talking to an insurance agent. To find an agent in your area, take a second and complete this form or go to this page to view a list of companies.

Why you need to buy insurance

Despite the high cost, insurance is not optional due to several reasons.

First, just about all states have mandatory liability insurance requirements which means the state requires specific minimum amounts of liability protection in order to license the vehicle. In Pennsylvania these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.

Second, if you have a lien on your Cadillac CTS-V, most banks will require you to carry insurance to ensure the loan is repaid in case of a total loss. If the policy lapses, the lender will be forced to insure your Cadillac at a much higher premium rate and require you to pay for the much more expensive policy.

Third, insurance safeguards not only your car but also your financial assets. It will also provide coverage for all forms of medical expenses for not only you but also any passengers injured in an accident. Liability insurance also covers legal expenses if you are named as a defendant in an auto accident. If damage is caused by hail or an accident, comprehensive and collision coverage will cover the repair costs.

The benefits of carrying adequate insurance are definitely more than the cost, particularly if you ever have a claim. But the average American driver is wasting up to $810 a year so shop around at every policy renewal to ensure rates are inline.

Specifics of your insurance policy

Learning about specific coverages of your policy can help you determine the best coverages and proper limits and deductibles. Insurance terms can be impossible to understand and coverage can change by endorsement. These are the normal coverages available from insurance companies.

Comprehensive protection – Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things such as theft, fire damage and a tree branch falling on your vehicle. The highest amount your insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

Uninsured or underinsured coverage – This coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants and damage to your Cadillac CTS-V.

Since a lot of drivers carry very low liability coverage limits (Pennsylvania limits are 15/30/5), it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Medical expense coverage – Med pay and PIP coverage provide coverage for bills such as funeral costs, rehabilitation expenses and X-ray expenses. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. It covers you and your occupants and will also cover any family member struck as a pedestrian. PIP coverage is not an option in every state but can be used in place of medical payments coverage

Liability coverages – This coverage will cover injuries or damage you cause to other people or property by causing an accident. It consists of three limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have limits of 15/30/5 that means you have $15,000 bodily injury coverage, a total of $30,000 of bodily injury coverage per accident, and property damage coverage for $5,000.

Liability coverage pays for things like attorney fees, pain and suffering, loss of income and medical services. How much liability should you purchase? That is up to you, but buy as much as you can afford. Pennsylvania requires drivers to carry at least 15/30/5 but drivers should carry better liability coverage.

The illustration below shows why buying the state minimum limits may not provide you with enough coverage.

Collision – This coverage pays for damage to your CTS-V from colliding with a stationary object or other vehicle. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things such as rolling your car, hitting a mailbox, hitting a parking meter, backing into a parked car and sustaining damage from a pot hole. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. It’s also possible to increase the deductible on your CTS-V to get cheaper collision coverage.

Cheap insurance premiums are possible

Some insurance companies do not provide the ability to get quotes online and many times these small insurance companies sell through independent insurance agencies. Low-cost Cadillac CTS-V insurance in Philadelphia is available both online and with local Philadelphia insurance agents, and you should compare price quotes from both to have the best chance of lowering rates.

While you’re price shopping online, it’s not a good idea to sacrifice coverage to reduce premiums. There have been many cases where drivers have reduced comprehensive coverage or liability limits to discover at claim time that the savings was not a smart move. The goal is to buy a smart amount of coverage at an affordable rate while still protecting your assets.

Much more information about insurance in Pennsylvania can be read below:

• Property Damage Coverage (Liberty Mutual)
• Who Has Cheap Auto Insurance Rates for a Honda CR-V in Philadelphia? (FAQ)
• Who Has Affordable Philadelphia Car Insurance for 17 Year Olds? (FAQ)
• How Much are Car Insurance Rates for Teenagers in Philadelphia? (FAQ)
• What is Gap Insurance? (Insurance Information Institute)
• Your Car has been Stolen: Now What? (Allstate)