Have you finally had enough of being strong-armed to pay auto insurance each month? You’re in the same situation as many other Kentucky drivers.
Amazingly, a recent NerdWallet.com study showed that almost 70% of insureds kept buying from the same company for over three years, and almost half have never quoted rates to find affordable coverage. Consumers in Kentucky can save about $630 each year by just comparing quotes, but they just don’t understand how much savings they would realize if they replace their high priced policy.
Since drivers have many auto insurance companies to choose from, it can be difficult for people to locate a more affordable insurance company.
Consumers need to get comparison quotes as often as possible since insurance prices fluctuate regularly. Despite the fact that you may have had the best price on Dodge Dakota insurance in Louisville six months ago the chances are good that you can find a lower rate quote today. Block out anything you think you know about auto insurance because you’re about to find out the fastest and easiest way to buy cheaper Dodge Dakota insurance in Louisville.
Shopping for the best protection in Louisville is not as hard as you may think. Just about anyone who has to buy auto insurance most likely will be able to reduce their rates. Nevertheless, Kentucky vehicle owners do need to learn how the larger insurance companies calculate your policy premium and use this information to your advantage.
Insurance statistics for a Dodge Dakota
The table displayed next showcases estimates of insurance premium costs for Dodge Dakota models. Understanding how insurance premiums are determined can help customers make decisions when choosing a new policy provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Dakota ST Ext Cab 2WD||$190||$438||$462||$28||$138||$1,256||$105|
|Dakota Bighorn Ext Cab 2WD||$190||$438||$462||$28||$138||$1,256||$105|
|Dakota Lonestar Ext Cab 2WD||$216||$438||$462||$28||$138||$1,282||$107|
|Dakota ST Crew Cab 2WD||$216||$438||$462||$28||$138||$1,282||$107|
|Dakota Bighorn Crew Cab 2WD||$216||$516||$462||$28||$138||$1,360||$113|
|Dakota Lonestar Crew Cab 2WD||$216||$516||$462||$28||$138||$1,360||$113|
|Dakota Bighorn Ext Cab 4WD||$244||$438||$368||$22||$110||$1,182||$99|
|Dakota ST Ext Cab 4WD||$244||$438||$368||$22||$110||$1,182||$99|
|Dakota Laramie Crew Cab 2WD||$244||$516||$462||$28||$138||$1,388||$116|
|Dakota ST Crew Cab 4WD||$244||$438||$368||$22||$110||$1,182||$99|
|Dakota Lonestar Ext Cab 4WD||$244||$438||$368||$22||$110||$1,182||$99|
|Dakota Bighorn Crew Cab 4WD||$244||$438||$368||$22||$110||$1,182||$99|
|Dakota TRX Crew Cab 4WD||$244||$516||$368||$22||$110||$1,260||$105|
|Dakota TRX Crew Cab 4WD||$244||$516||$368||$22||$110||$1,260||$105|
|Dakota Lonestar Crew Cab 4WD||$244||$516||$368||$22||$110||$1,260||$105|
|Dakota Laramie Crew Cab 4WD||$272||$516||$368||$22||$110||$1,288||$107|
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Data rating is based on single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Prices do not factor in garaging location in Louisville which can increase or decrease auto insurance rates noticeably.
Poor driving habits will raise your insurance rates
The illustration below illustrates how speeding tickets and accidents can influence Dodge Dakota insurance premiums for each different age group. The premiums are based on a married male driver, full coverage, $100 deductibles, and no discounts are factored in.
Comparison of full coverage and liability-only policies
The chart below shows the difference between Dodge Dakota yearly insurance costs with and without full coverage. The costs are based on no claims, a clean driving record, $100 deductibles, drivers are single, and no discounts are applied to the premium.
When to stop paying for full coverage
There isn’t a steadfast formula for eliminating full coverage on your policy, but there is a general school of thought. If the annual cost of coverage is about 10% or more of the replacement cost minus the deductible, then it might be time to consider dropping full coverage.
For example, let’s assume your Dodge Dakota replacement cost is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $4,000 after you pay the deductible. If it’s costing in excess of $400 a year for physical damage coverage, the it may be a good time to stop paying for full coverage.
There are a few situations where eliminating full coverage is not a good plan. If you still have a loan on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.
Smart Consumers Can Save Money
Lots of things are taken into consideration when quoting car insurance. Most are fairly basic such as your driving history, but some are more obscure like where you live and annual miles driven. An important part of buying insurance is that you know some of the elements that come into play when calculating the rates you pay for auto insurance. If you understand what influences your rates, this allows you to make good choices that can help you get lower auto insurance prices.
Male premiums may be higher – Over the last 50 years, statistics have shown women tend to be less risk to insure than men. That doesn’t necessarily mean that males are worse at driving than females. They both are in auto accidents in similar numbers, but the males tend to have higher claims. Not only that, but men also get cited for more serious violations like reckless driving and DUI. Male teenagers cause the most accidents and thus pay the highest rates.
The diagram below compares Dodge Dakota insurance costs for male and female drivers. The premiums are based on a clean driving record, no at-fault accidents, full coverage, $250 deductibles, single marital status, and no additional discounts are factored in.
Prevent theft and save – Purchasing a vehicle with a theft deterrent system can save you a little every year. Advanced theft deterrents like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar help track and prevent your vehicle from being stolen.
Don’t abuse policy claims – Companies in Kentucky give better rates to drivers that do not abuse their auto insurance. If you’re an insured who likes to file claims you can definitely plan on either policy cancellation or increased premiums. Your car insurance is meant to be used in the event of more catastrophic claims.
Physical damage deductibles are a factor – Physical damage insurance, aka comp and collision, protects your Dodge from damage. A few examples of covered claims are colliding with a building, collision with an animal, and damage caused by flying debris. Your deductibles are the amount of money you are required to spend in the event of a claim. The more the insured is willing to pay, the bigger discount you will receive.
Single drivers take more risk – Getting married may save some money on your policy. It may mean you are less irresponsible and it’s statistically proven that being married results in fewer claims.
Reduce prices by driving vehicles with better crash test results – Vehicles with good safety scores are cheaper to insure. Vehicles built for safety reduce injuries and lower injury rates translates directly to fewer claims and thus lower rates. If your Dodge Dakota scored at minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org it is probably cheaper to insure.
The best insurance company isn’t always the cheapest
Lower-priced Dodge Dakota insurance in Louisville can be sourced online as well as from independent agents in Louisville, and you should compare price quotes from both so you have a total pricing picture. A few companies do not provide online rate quotes and most of the time these small, regional companies sell through local independent agencies.
We’ve covered a lot of tips how to find cheaper Dodge Dakota insurance in Louisville. The most important thing to understand is the more price quotes you have, the better likelihood of getting the cheapest Dodge Dakota rate quotes. You may even be surprised to find that the best price on insurance is with a company that doesn’t do a lot of advertising.
Drivers change insurance companies for any number of reasons including denial of a claim, unfair underwriting practices, delays in responding to claim requests and not issuing a premium refund. Whatever your reason, finding a great new company can be easier than you think.
Steps to finding cheaper rates for Dodge Dakota insurance in Louisville
The preferred way to get cheaper auto insurance rates is to do a yearly price comparison from companies who sell insurance in Louisville. Rates can be compared by completing these steps.
- It will benefit you to learn about how your policy works and the measures you can control to prevent expensive coverage. Many policy risk factors that increase rates such as your driving record and a substandard credit score can be amended by being financially responsible and driving safely.
- Compare rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only give prices from a single company like Progressive or State Farm, while agents who are independent can provide prices for a wide range of companies.
- Compare the quotes to the price on your current policy to see if cheaper Dakota coverage is available in Louisville. If you find better rates and buy the policy, ensure there is no coverage lapse between policies.
A key point to remember is to try to use the same coverage limits and deductibles on each quote request and and to look at all possible companies. Doing this enables the most accurate price comparison and a complete selection of prices.
For more information, link through to the following helpful articles:
- Things to Know Before you Cancel Insurance (Allstate)
- How Much are Auto Insurance Quotes for 18 Year Olds in Louisville? (FAQ)
- What Auto Insurance is Cheapest After a Speeding Ticket in Louisville? (FAQ)
- How Much are Auto Insurance Rates for a Chevrolet Silverado in Louisville? (FAQ)
- Auto Insurance 101 (About.com)
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)
- Comprehensive Coverage (Liberty Mutual)