Want to learn a better way to compare low-cost car insurance rates in Louisville, KY? Louisville shoppers have options when shopping for affordable Dodge Viper insurance. You can either waste hours contacting agents to get rate comparisons or leverage the internet to make rate comparisons. There are both good and bad ways to shop for car insurance and we’ll show you the quickest way to compare rates for a new or used Dodge and get the cheapest rates either online or from Louisville insurance agents.
Smart consumers take time to do rate comparisons on a regular basis because car insurance prices are constantly changing. If you had the lowest rate on Dodge Viper insurance in Louisville a year ago you can probably find a better premium rate now. Forget all the misinformation about car insurance because we’re going to show you one of the easiest ways to find better rates and still maintain coverage.
If you are insured now or just want to save money, use these cost-cutting techniques to get lower rates while maintaining coverages. This article’s intent is to familiarize you with how car insurance companies work and some tips to save money. Vehicle owners just have to use how to compare rate quotes on the web.
Reducing your Dodge Viper insurance rates is not a difficult process. The only thing you need to do is take time comparing price quotes online from several insurance companies.
The car insurance companies shown below offer free rate quotes in Kentucky. To buy cheap auto insurance in Kentucky, we suggest you get price quotes from several of them to get the best price comparison.
Dodge Viper insurance rate analysis
The coverage information shown below showcases different policy rates for Dodge Viper models. Learning more about how insurance quotes are established is important for making smart choices when selecting a coverage provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Viper SRT/10 2-Dr Coupe||$352||$756||$334||$20||$100||$1,562||$130|
|Viper SRT/10 2-Dr Roadster||$352||$756||$334||$20||$100||$1,562||$130|
|Get Your Own Custom Quote Go|
Premium data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Prices do not factor in Louisville location which can impact price quotes substantially.
The example below shows how choosing a deductible and can increase or decrease Dodge Viper annual premium costs for different age groups of insureds. The data assumes a married male driver, full coverage, and no discounts are taken into consideration.
Rate difference between full and liability-only coverage
The example below shows the comparison of Dodge Viper yearly insurance costs with full physical damage coverage and with liability coverage only. The rate quotes are based on no claims, a clean driving record, $250 deductibles, single marital status, and no discounts are applied to the premium.
When to stop paying for full coverage
There is no clear-cut formula to drop comp and collision coverage, but there is a general guideline you can use. If the yearly cost of full coverage is about 10% or more of the replacement cost minus the deductible, then it may be the right time to buy liability only.
For example, let’s assume your Dodge Viper book value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $2,000 after the deductible is paid. If you are currently paying more than $200 a year for full coverage, then it might be time to buy liability only.
There are some conditions where dropping full coverage is not recommended. If you still have a loan on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should maintain full coverage.
Three main reasons to buy auto insurance
Despite the high cost, buying auto insurance may be required and benefits you in several ways.
- The majority of states have minimum liability requirements which means you are required to carry a specific minimum amount of liability if you don’t want to risk a ticket. 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 your vehicle has a loan, almost all lenders will make it mandatory that you have physical damage coverage to ensure they get paid if you total the vehicle. If you default on your policy, the bank may insure your Dodge at an extremely high rate and require you to fork over for the much more expensive policy.
- Insurance safeguards your car and your assets. Insurance will also pay for medical expenses for yourself as well as anyone injured by you. As part of your policy, liability insurance will also pay to defend you if you are named as a defendant in an auto accident. If your Dodge gets damaged, comprehensive (other-than-collision) and collision coverage will pay to have it repaired.
The benefits of buying auto insurance more than cancel out the cost, especially for larger claims. An average driver in America overpays more than $800 each year so you should quote and compare rates at every renewal to ensure rates are inline.
How to Lower Your Insurance Costs
Multiple criteria are considered when you get a price on insurance. A few of the factors are predictable such as your driving history, but other factors are less apparent such as whether you are married or your vehicle rating.
The itemized list below are some of the most rate-impacting factors that factor into premiums.
- Raise your comp and collision deductibles for better rates – Comprehensive and collision coverage deductibles represent how much money you are willing to pay if a claim is determined to be covered. Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, is used to repair damage to your car. A few examples of covered claims could be rear-ending another vehicle, vandalism, and having a roll-over accident. The more the insured has to pay upfront, the less your auto insurance will be.
- Safeguard your assets with liability insurance – The liability coverage on your policy is the coverage that protects you in the event that you are found to be at fault for physical damage or personal injury to other. Liability provides legal defense to defend your case. Liability insurance is pretty cheap as compared to coverage for physical damage, so drivers should carry high limits.
- Decrease prices by maintaining coverage – Going without insurance can be a quick way to increase your rates. In addition to paying higher premiums, the inability to provide proof of insurance may result in a revoked license or a big fine. You may then be required to prove you have insurance by filing a SR-22 with the Kentucky department of motor vehicles.
Don’t get traffic citations – Getting just one speeding ticket can boost insurance rates by as much as twenty percent. Attentive drivers get better rates compared to bad drivers. Drivers with serious tickets such as reckless driving, hit and run or driving under the influence are required to complete a SR-22 with their state’s licensing department in order to keep their license.
The chart below demonstrates how citations and at-fault collisions raise Dodge Viper insurance prices for different age groups of insureds. The price estimates are based on a married female driver, full physical damage coverage, $500 deductibles, and no other discounts are factored in.
Men drivers tend to cost more – Over the last 50 years, statistics have shown women are more cautious behind the wheel. It does not mean women are BETTER drivers than men. Women and men are responsible for fender benders in similar numbers, but the males have costlier accidents. Men also tend to have more aggressive citations like reckless driving and DUI. Young men ages 16 to 20 are the most expensive to insure and therefore have the most expensive auto insurance rates.
The information below shows the difference between Dodge Viper yearly insurance costs for male and female drivers. The premiums are based on a clean driving record, no at-fault accidents, comprehensive and collision coverage, $100 deductibles, marital status is single, and no discounts are applied.
- Keep policy claims to a minimum – Auto insurance companies in Kentucky award lower rates to policyholders who do not rely on their insurance for small claims. If you are a frequent claim filer, you can expect either a policy non-renewal or much higher rates. Your car insurance is designed for claims that you cannot pay yourself.
- Add-on coverages push up premiums – Policies have extra coverages that can add up on your auto insurance policy. Coverage for things like vanishing deductibles, towing, and Farm Bureau memberships may be costing you every month. You may think they are a good idea when you first buy your policy, but your money might be better spent on other coverage so eliminate the coverages to reduce your premium.
Loss statistics for a Dodge Viper – Insurance companies analyze past claim statistics to help set a rate to offset losses. Vehicles that the data shows to have higher claim amounts or frequency will cost more for coverage.
The table below outlines the collected loss data for Dodge Viper vehicles. For each type of coverage, the statistical loss for all vehicles averaged together is represented as 100. Values below 100 suggest a better than average loss history, while percentages above 100 indicate higher probability of having a loss or an increased chance of a larger loss.
Dodge Viper Insurance Loss Statistics Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Dodge Viper 2dr 147BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Insurance agents can help
When quoting and choosing insurance from an agent or online, there really is no one-size-fits-all type of policy. Every insured’s situation is different.
These are some specific questions can help discover if your insurance needs could use an agent’s help.
- Can I rent a car in Mexico?
- Should I buy full coverage?
- Is borrowed equipment or tools covered if stolen or damaged?
- Can I drive in Mexico and have coverage?
- Am I covered when driving on a suspended license?
- How high should my medical payments coverage be?
- Does my insurance cover my expensive audio equipment?
- What are the liability requirements in my state?
- Who sells insurance for high-risk drivers?
If it’s difficult to answer those questions but one or more may apply to you, you may need to chat with an insurance agent. If you don’t have a local agent, simply complete this short form. It only takes a few minutes and you can get the answers you need.
Compare insurance prices regularly to save
As you prepare to switch companies, it’s very important that you do not skimp on critical coverages to save a buck or two. There are too many instances where someone dropped physical damage coverage only to discover later that their decision to reduce coverage ended up costing them more. The ultimate goal is to buy a smart amount of coverage for the lowest price.
Some insurance providers may not offer internet price quotes and usually these regional carriers only sell through independent agents. The cheapest Dodge Viper insurance in Louisville is definitely available from both online companies and with local Louisville insurance agents, and you need to price shop both to have the best chance of lowering rates.
We covered many tips how you can shop for Dodge Viper insurance online. It’s most important to understand that the more rate comparisons you have, the more likely it is that you will get a better rate. You may even be surprised to find that the lowest priced insurance comes from some of the smallest insurance companies.
Steps to finding discount Dodge Viper insurance in Louisville
To save the most money, the best way to find cheaper quotes for Dodge Viper insurance in Louisville is to start comparing prices yearly from insurers that sell auto insurance in Kentucky.
Step 1: Try to comprehend what coverages are included in your policy and the things you can control to lower rates. Many rating criteria that increase rates such as getting speeding tickets and a less-than-favorable credit rating can be rectified by making small lifestyle or driving habit changes.
Step 2: Compare rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can provide rates from a single company like GEICO and Allstate, while independent agents can give you price quotes for many different companies. Compare rates
Step 3: Compare the new rates to the price on your current policy and see if there is a cheaper rate in Louisville. If you can save some money and make a switch, ensure coverage does not lapse between policies.
Step 4: Give proper notification to your current agent or company to cancel your existing policy. Submit a completed application and payment to the new company. As soon as coverage is bound, place the new certificate verifying coverage with your vehicle’s registration.
One bit of advice is to use the same liability limits and deductibles on each quote request and to quote with as many companies as feasibly possible. Doing this provides an apples-to-apples comparison and a thorough price selection.
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