No one looks forward to paying for car insurance, especially when the price is too high.
It's well known that auto insurance companies don't want policyholders to shop around. Insureds who shop around annually will, in all likelihood, buy a different policy because there is a good chance of finding a lower rate. A recent survey discovered that consumers who shopped around annually saved approximately $860 a year as compared to drivers who never shopped for cheaper rates.
If finding low prices for car insurance in Philadelphia is your goal, then knowing the best ways to find and compare coverage rates can help you be more efficient.
Lots of insurers contend for your business, and it can be difficult to compare rates to discover the definitive best rate on Cadillac XLR insurance in Philadelphia.
If you currently have a car insurance policy, you will surely be able to save money using the ideas you're about to read. Buying the cheapest auto insurance in Philadelphia can be made easier if you know where to look. But Pennsylvania drivers must learn how insurance companies set your policy premium and use it to find better rates.
Philadelphia insurance discounts for a Cadillac XLR
Auto insurance companies do not advertise the complete list of policy discounts in a way that's easy to find, so the next list breaks down both the well known and the harder-to-find discounts that you may qualify for.
- Accident Forgiveness Coverage - Not a discount per se, but some insurance companies will let one accident slide without raising rates if you are claim-free for a set time period.
- Anti-lock Brake System - Vehicles that have anti-lock braking systems are safer to drive and qualify for as much as a 10% discount.
- Seat Belt Discounts - Drivers who require all occupants to fasten their seat belts may be able to save a few bucks off the personal injury premium cost.
- Drivers Education - Teen drivers should participate in a local driver's education class in school.
- Theft Prevention System - Anti-theft and alarm system equipped vehicles have a lower chance of being stolen and that can save you a little bit as well.
- Air Bags and Passive Restraints - Factory options such as air bags or automatic seat belts can qualify for discounts of up to 25% or more.
- Multiple Cars - Buying a policy with more than one vehicle with the same company can get a discount on all vehicles.
A quick disclaimer, many deductions do not apply to the entire cost. The majority will only reduce the cost of specific coverages such as comp or med pay. Even though the math looks like adding up those discounts means a free policy, company stockholders wouldn't be very happy.
If you would like to view insurers who offer online Cadillac XLR insurance quotes in Pennsylvania, click here to view.
When quoting insurance, remember that comparing all the rates in your area will improve the odds of getting more affordable rates. Not every company allows you to get Philadelphia XLR insurance quotes over the internet, so you need to compare price estimates from them as well.
The auto insurance companies shown below offer free quotes in Pennsylvania. If multiple companies are listed, it's highly recommended you get prices from several of them in order to find the most competitive rates.
Auto insurance can be complex
When it comes to choosing the best auto insurance coverage, there really is no one size fits all plan. You are unique.
These are some specific questions might help in determining whether or not you could use an agent's help.
- Is borrowed equipment or tools covered if stolen or damaged?
- Is my cargo covered for damage or theft?
- Am I covered when driving a rental car?
- Do I pay less for low miles?
- How much liability coverage do I need in Pennsylvania?
- Is my custom stereo system covered?
If you don't know the answers to these questions, you may need to chat with a licensed insurance agent. To find an agent in your area, simply complete this short form.
Insurance is available from local agents
Many drivers still prefer to buy from a licensed agent and that is OK! A good thing about comparing insurance online is you can get cheap insurance quotes and still buy from a local agent. And supporting local agencies is still important in Philadelphia.
Upon completion of this short form, your insurance coverage information gets sent to companies in Philadelphia who will return price quotes for your insurance coverage. There is no need to leave your computer because quoted prices will be sent to the email address you provide. You'll get the best rates without the usual hassles of price shopping. In the event you want to get a price quote from a particular provider, you would need to find their quoting web page and fill out the quote form the provide.
When researching a reputable agency, it helps to know the two different types of agents and how they differ in how they can insure your vehicles. Insurance agencies can either be exclusive or independent agents depending on their company appointments.
Independent Agencies or Brokers
Agents that choose to be independent do not have single company limitations and that enables them to quote your coverage through many companies and find the cheapest rate. To transfer your coverage to a different company, they simply switch companies in-house and you don't have to do anything.
If you are comparing insurance prices, you need to include rate quotes from several independent insurance agents in order to compare the most rates.
Shown below is a small list of independent insurance agencies in Philadelphia who can help you get competitive price quotes.
Exclusive agencies write business for a single company like AAA, State Farm, Farmers Insurance, and Allstate. Exclusive agents are unable to place coverage with different providers so you need to shop around if the rates are high. These agents are usually well trained on sales techniques which helps them sell on service rather than price.
Shown below is a short list of exclusive agencies in Philadelphia that are able to give rate quotes.
Finding the right insurance agency is decision based upon more than just the quoted price. A good agent in Philadelphia will have answers to these questions.
- Will a damage claim use OEM or aftermarket replacement parts?
- Do they reduce claim amounts on high mileage vehicles?
- Does the agent recommend any additional coverage?
- Can glass claims be handled at your home?
- Does the agency have a positive business rating?
- How much training do they have in personal risk management?
- How does the company pay claims for a total loss?
- Do they regularly work with personal auto policies in Philadelphia?
Auto insurance protects more than just your car
Even though it's not necessarily cheap to insure a Cadillac in Philadelphia, auto insurance serves several important purposes.
- Most states have mandatory liability insurance requirements which means you are required to buy a specific level of liability protection in order to be legal. 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.
- If your Cadillac has a lienholder, it's guaranteed your bank will make it a condition of the loan that you have full coverage to guarantee payment of the loan. If you let the policy lapse, the lender may have to buy a policy to insure your Cadillac at a much higher rate and force you to reimburse them much more than you were paying before.
- Auto insurance protects both your Cadillac XLR and your personal assets. It also can pay for medical bills for not only you but also any passengers injured in an accident. Liability coverage, the one required by state law, will also pay to defend you if you cause an accident and are sued. If damage is caused by hail or an accident, your auto insurance policy will pay to repair the damage minus the deductible amount.
The benefits of carrying adequate insurance outweigh the cost, especially when you need to use it. According to a 2015 survey, the average American driver is wasting up to $820 a year so it's very important to do a rate comparison at least once a year to be sure current rates are still competitive.
What car insurance coverages do you need?
Knowing the specifics of your policy can be of help when determining the right coverages and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement.
Collision - This coverage covers damage to your XLR resulting from colliding with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for things like backing into a parked car, hitting a parking meter and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. It's also possible to choose a higher deductible on your XLR to bring the cost down.
Med pay and Personal Injury Protection (PIP) - Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses for chiropractic care, pain medications and funeral costs. They are used to fill the gap from your health insurance policy or if there is no health insurance coverage. Coverage applies to not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state and may carry a deductible
Comprehensive insurance - Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for claims such as damage from a tornado or hurricane, damage from flooding, hitting a bird and hail damage. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much it's probably time to drop comprehensive insurance.
Uninsured/Underinsured Motorist (UM/UIM) - Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they do not carry enough liability coverage. Covered losses include hospital bills for your injuries and also any damage incurred to your Cadillac XLR.
Because many people have only the minimum liability required by law (Pennsylvania limits are 15/30/5), it doesn't take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked. Most of the time these limits are similar to your liability insurance amounts.
Liability - This coverage protects you from damage that occurs to a person or their property by causing an accident. Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 15/30/5 that translate to a $15,000 limit per person for injuries, a total of $30,000 of bodily injury coverage per accident, and $5,000 of coverage for damaged property. Alternatively, you may have a combined limit which provides one coverage limit with no separate limits for injury or property damage.
Liability coverage pays for claims such as emergency aid, legal defense fees, court costs, repair costs for stationary objects and bail bonds. How much liability should you purchase? That is your choice, but buy as high a limit as you can afford. Pennsylvania requires minimum liability limits of 15/30/5 but you should think about purchasing more liability than the minimum.
The next chart shows why buying low liability limits may not be enough coverage.
You can lower your car insurance rates
We just showed you many ideas to get a better price on Cadillac XLR insurance in Philadelphia. The key thing to remember is the more companies you get prices for, the better your comparison will be. Consumers may even find the lowest premium rates are with a smaller regional carrier.
Some companies may not have online quoting and usually these regional carriers only sell through independent agents. Budget-conscious Cadillac XLR insurance can be bought on the web and from local agencies, and you need to comparison shop both to get a complete price analysis.
Consumers leave their current company for a number of reasons such as high prices, being labeled a high risk driver, not issuing a premium refund or even unfair underwriting practices. Regardless of your reason, switching car insurance companies can be less work than you think.
Additional car insurance information is available on the following sites: