Have you fallen victim to an overpriced insurance policy? You're in good company because many Louisville drivers have buyer's remorse.
It's well known that insurance companies don't want you quoting rates from other companies. Drivers who compare price quotes are highly likely to switch insurance companies because of the good chance of finding a policy with more affordable rates. A recent insurance study discovered that consumers who routinely shopped around saved about $72 a month as compared to drivers who never compared rates.
If finding the cheapest rates on Dodge Charger insurance in Louisville is your ultimate target, then knowing how to compare cheaper coverage can save money and time.
Steps to buying low-cost Dodge Charger insurance in Louisville
If you want to find the absolute lowest rates, then the best way to get affordable Dodge Charger insurance in Louisville is to do a yearly price comparison from insurers who sell insurance in Kentucky. You can shop around by following these steps.
Step 1: Read and learn about the coverage provided by your policy and the modifications you can make to keep rates low. Many rating criteria that result in higher prices like your driving record and a low credit rating can be eliminated by being financially responsible and driving safely.
Step 2: Compare rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only provide price estimates from one company like Progressive and State Farm, while independent agencies can provide price quotes for a wide range of insurance providers. View a list of agents
Step 3: Compare the new rate quotes to your existing coverage to see if you can save by switching companies. If you find a better price and change companies, make sure there is no lapse in coverage.
Step 4: Give notification to your current company of your intention to cancel your current policy. Submit a down payment along with a signed application to your new company or agent. Immediately upon receiving it, put the proof of insurance certificate in your vehicle's glove compartment or console.
The key thing to know about shopping around is to make sure you enter the same coverage limits and deductibles on every quote request and to quote with as many carriers as you can. This enables the most accurate price comparison and a thorough selection of prices.
Lots of car insurance companies contend for your business, and because of this it can be hard to compare auto insurance companies and get the definite best rates possible on Dodge Charger insurance in Louisville.
Finding cheaper car insurance prices is a fairly straight forward process. All that's required is to spend a few minutes on the computer getting comparison quotes to find out which insurance company has affordable Louisville car insurance quotes.
It's so easy to compare rate quotes online that it makes it a waste of time to physically go to insurance agencies in your area. Doing it all online has made agencies unnecessary unless you prefer the trained advice that only an agent can give. Drivers can price shop your coverage online and still use a local agent.
The car insurance companies shown below are ready to provide free quotes in Kentucky. If you want cheap auto insurance in Louisville, we suggest you click on several of them to get a more complete price comparison.
Why you need to buy insurance
Despite the high insurance cost for a Dodge Charger in Louisville, buying insurance is required in Kentucky but it also protects you in many ways.
- The majority of states have mandatory insurance requirements which means the state requires a minimum amount of liability protection in order to drive the car. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you bought your Charger with a loan, almost every bank will require you to have comprehensive coverage to guarantee their interest in the vehicle. If you do not keep the policy in force, the bank will be required to insure your Dodge at a more expensive rate and require you to pay much more than you were paying before.
- Insurance preserves not only your vehicle but also your financial assets. It will also pay for medical expenses for you, any passengers, and anyone injured in an accident. As part of your policy, liability insurance will also pay attorney fees in the event you are sued. If your car is damaged in a storm or accident, your insurance policy will pay to have it repaired.
The benefits of having insurance outweigh the cost, specifically if you ever have a liability claim. Today the average American driver is currently overpaying as much as $750 every year so compare rates once a year at a minimum to save money.
Premium rates and analysis
The premium information displayed next covers a range of insurance premium costs for Dodge Charger models. Being able to understand how insurance rates are formulated can be valuable when making informed purchases.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Charger 3.5 AWD||$322||$550||$420||$24||$126||$1,442||$120|
|Charger SXT AWD||$322||$550||$420||$24||$126||$1,442||$120|
|Charger Rallye AWD||$322||$634||$420||$24||$126||$1,526||$127|
|Charger R/T AWD||$354||$634||$420||$24||$126||$1,558||$130|
|Get Your Own Custom Quote Go|
Table data represents married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Rate information does not factor in the specific area where the vehicle is garaged which can affect coverage prices greatly.
The information below highlights how deductible selection and can impact Dodge Charger insurance costs for different categories of driver ages. The data is based on a single male driver, full coverage, and no discounts are taken into consideration.
Impact of speeding/accidents on auto insurance rates
The information below shows how traffic citations and at-fault fender-benders can drive up Dodge Charger insurance rates for different age groups. The data is based on a single male driver, full coverage, $100 deductibles, and no discounts are applied.
Dodge Charger insurance rates by age and gender
The information below illustrates the difference between Dodge Charger insurance premiums for male and female drivers. The prices are based on no accidents, no driving violations, full physical damage coverage, $1,000 deductibles, single marital status, and no discounts are applied to the premium.
Full coverage or liability only
The chart below shows the difference between Dodge Charger auto insurance rates with liability coverage only compared to full coverage. The premium estimates are based on no tickets, no at-fault accidents, $250 deductibles, single status, and no discounts are applied to the premium.
When to eliminate full coverage
There is no exact formula that works best for making the decision to drop physical damage insurance, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is about 10% or more of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.
For example, let's assume your Dodge Charger settlement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $4,000 after the deductible is paid. If you are paying over $400 annually for full coverage, the it may be a good time to stop paying for full coverage.
There are some situations where eliminating full coverage is not advised. If you haven't paid off your loan, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you can't afford to buy a different vehicle if your current one is in an accident, you should not buy liability only.
Cheaper Louisville insurance rates with discounts
Not many people think insurance is cheap, but discounts can save money and there are some available to help bring down the price. Some discounts apply automatically at the time you complete a quote, but a few need to be asked about in order for you to get them. If you aren't receiving every discount available, you could be getting lower rates.
- Bundle and Save - If you combine your home and auto policies with the same insurance company you could save up to 20% and get you cheap Charger insurance.
- Driver Training Discounts - Participating in a course in defensive driving could possibly earn you a 5% discount and easily recoup the cost of the course.
- Membership in Organizations - Belonging to specific professional or occupational memberships or organizations is a simple method to lower premiums on your next insurance statement.
- Discount for Home Ownership - Owning your own home or condo can help you save on insurance because maintaining a house demonstrates responsibility.
- Theft Prevention System - Cars and trucks that have factory anti-theft systems are less likely to be stolen and therefore earn up to a 10% discount.
- New Vehicle Savings - Buying a new car instead of a used Charger can get you a discount because newer vehicles have to meet stringent safety requirements.
Keep in mind that most of the big mark downs will not be given to the entire policy premium. Most only reduce the price of certain insurance coverages like collision or personal injury protection. If you do the math and it seems like all the discounts add up to a free policy, insurance companies aren't that generous.
The chart below illustrates the difference between Dodge Charger insurance prices with and without discounts applied to the policy premium. The rate quotes are based on a male driver, no accidents or driving violations, Kentucky state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, multi-car, multi-policy, homeowner, and marriage discounts applied.
Large insurance companies and some of the premium reductions they offer can be found below.
- Farm Bureau offers discounts for multi-vehicle, driver training, renewal discount, 55 and retired, safe driver, and good student.
- Liberty Mutual policyholders can earn discounts including new vehicle discount, multi-car, new graduate, safety features, newly retired, new move discount, and exclusive group savings.
- State Farm has discounts for good student, passive restraint, Drive Safe & Save, anti-theft, multiple policy, Steer Clear safe driver discount, and good driver.
- Auto-Owners Insurance may include discounts for company car, mature driver, student away at school, multi-policy, air bags, and paid in full.
- GEICO may offer discounts for anti-lock brakes, daytime running lights, emergency military deployment, driver training, membership and employees, federal employee, and defensive driver.
- SAFECO offers discounts including multi-car, teen safe driver, safe driver, drive less, and teen safety rewards.
Before buying, ask each company how you can save money. Some of the discounts discussed earlier may not be available in your area.
Which policy gives me the best coverage?
When it comes to buying adequate coverage for your vehicles, there is no "best" method to buy coverage. Every insured's situation is different so your insurance needs to address that. For example, these questions can help discover whether you would benefit from an agent's advice.
- What is medical payments coverage?
- What if I owe more than I can insure my car for?
- Should I have combined single limit or split liability limits?
- Does having multiple vehicles earn me a discount?
- Can I afford to buy a different vehicle if my Dodge Charger is totaled?
- Should I buy only the required Kentucky minimum liability coverage?
- What policy terms are available?
- Will I be non-renewed for getting a DUI or other conviction?
- Should I rate my vehicle as business use?
- Am I covered when renting a car or should I buy coverage from the car rental agency?
If you don't know the answers to these questions, you may need to chat with an agent. To find lower rates from a local agent, complete this form or click here for a list of insurance companies in your area. It only takes a few minutes and you can get the answers you need.