Shockingly, most auto insurance customers kept their policy with the same company for four years or more, and virtually 40% of consumers have never compared rates from other carriers. With the average auto insurance premium being $2,130, Kentucky drivers could save approximately 30% a year just by shopping around, but they don’t want to spend time to go online and compare rates.
If you want to find the absolute lowest rates, then the best way to get cheaper car insurance rates is to begin comparing prices regularly from companies in Louisville.
- Try to learn a little about how your policy works and the steps you can take to prevent high rates. Many things that are responsible for high rates such as careless driving and a not-so-good credit rating can be controlled by being financially responsible and driving safely.
- Request price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can provide rates from one company like Progressive or Farmers Insurance, while independent agencies can provide prices for a wide range of insurance providers.
- Compare the new rate quotes to the price on your current policy and determine if there is any savings. If you find a lower rate quote and decide to switch, make sure coverage does not lapse between policies.
- Tell your current agent or company of your intent to cancel your current coverage. Submit a down payment along with a signed application to your new agent or company. As soon as you have the new policy, put the certificate verifying coverage in a readily accessible location in your vehicle.
One piece of advice is that you use identical coverages on every price quote and and to analyze all possible companies. Doing this helps ensure a level playing field and a complete selection of prices.
If you are insured now or just want a better rate, use these tips to find better prices without reducing protection. Buying the cheapest insurance in Louisville is not that difficult. Drivers just need to use the fastest way to shop for insurance using one simple form.
All major car insurance companies give coverage price quotes on the web. Doing online price comparisons for Cadillac XLR insurance in Louisville is possible for anyone as you just enter your personal and coverage information as detailed in the form. After you complete the form, the company’s rating system pulls your credit score and driving record and returns a price quote based on these and other factors. Being able to quote online for Cadillac XLR insurance in Louisville streamlines rate comparisons, and it’s absolutely necessary to perform this step in order to get a lower rate.
In order to find out if lower rates are available, consider comparing rates from the companies shown below. If you have coverage now, it’s recommended you enter the insurance coverages as shown on your current policy. Doing this guarantees you will receive comparison quotes for the exact same coverage.
The companies shown below provide price comparisons in Kentucky. If you want to find the best cheap auto insurance in Louisville, KY, we recommend you visit two to three different companies to get the best price comparison.
Car insurance does more than just repair your car
Even though Louisville XLR insurance rates can get expensive, buying car insurance is required in Kentucky but it also protects you in many ways.
- Just about all states have compulsory liability insurance requirements which means you are required to carry specific limits of liability coverage if you drive a vehicle. 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 took out a loan on your Cadillac, most banks will make it mandatory that you carry insurance to guarantee loan repayment. If you default on your policy, the lender will be forced to insure your Cadillac for a lot more money and force you to pay a much higher amount than you were paying before.
- Insurance protects not only your vehicle but also your financial assets. Insurance will also pay for most medical and hospital costs that are the result of an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney if anyone sues you for causing an accident. If your Cadillac gets damaged, collision and comprehensive coverages will pay to have it repaired.
The benefits of carrying enough insurance definitely exceed the price paid, especially with large liability claims. An average driver in America is overpaying over $800 each year so you should quote rates at least once a year to help ensure money is not being wasted.
Cheaper Louisville insurance quotes with discounts
Not too many consumers would say insurance is affordable, but there could be available discounts that could drop your premiums quite a bit. Certain credits will be shown when you quote, but a few must be requested specifically prior to getting the savings. If you check and find you aren’t receiving every discount possible, you are just wasting money.
- Early Switch Discount – A few insurance companies allow discounts for buying a new policy prior to your current XLR insurance policy expiration. You can save around 10% with this discount.
- Defensive Driver – Taking a safe driver course could cut 5% off your bill if your company offers it.
- College Student – College-age children who are enrolled in a college that is more than 100 miles from Louisville and won’t have access to an insured vehicle could qualify for this discount.
- Braking Control Discount – Vehicles with ABS braking systems or traction control prevent accidents and will save you 10% or more on XLR insurance in Louisville.
- Passive Restraints – Factory options such as air bags can qualify for discounts of more than 20%.
- Low Mileage Discounts – Low mileage vehicles can qualify you for lower prices on the low mileage vehicles.
- Onboard Data Collection – Drivers who elect to allow their insurance company to look at driving manner by using a telematics device like In-Drive from State Farm and Progressive’s Snapshot could possibly reduce rates if their driving habits are good.
Don’t be shocked that some credits don’t apply to the entire cost. Some only apply to individual premiums such as comprehensive or collision. Just because it seems like you would end up receiving a 100% discount, it just doesn’t work that way. Any amount of discount should help reduce the amount you have to pay.
Car insurance companies that may offer policyholders most of these discounts include:
If you need lower rates, check with every insurance company which discounts you qualify for. Savings might not apply in every state.
Neighborhood agents and auto insurance
Many people would prefer to get professional advice from a licensed agent. Good insurance agents are trained risk managers and give you someone to call. One of the benefits of comparing auto insurance online is that drivers can save money and get lower rates but also keep your business local. Buying from and supporting neighborhood insurance agencies is still important in Louisville.
To make it easy to find an agent, after completing this short form, your information is immediately sent to participating agents in Louisville who will give you bids and help you find cheaper coverage. It simplifies rate comparisons since you won’t have to contact an agency since rate quotes are delivered to you. In the event you want to get a price quote for a specific company, feel free to visit that company’s website and complete a quote there.
The different types of car insurance agents
If you want to buy auto insurance from a good Louisville insurance agent, you must know there are a couple types of insurance agents and how they are slightly different. Agencies in Louisville can be categorized as either independent or exclusive. Both provide auto insurance policies, but it is important to understand the subtle differences since it can affect which agent you choose.
Agents of this type do not have single company limitations and that enables them to quote your coverage with multiple insurance companies and potentially find a lower price. If your premiums go up, your policy is moved internally and you don’t have to find a new agent.
When searching for an agent, you definitely need to include price quotes from a couple of independent agencies to get the most accurate price comparison.
Listed below is a partial list of independent agencies in Louisville who may provide free price quotes.
Exclusive Auto Insurance Agencies
Agents in the exclusive channel can only provide one company’s prices and examples are State Farm, Allstate, and Farm Bureau. Exclusive agents are unable to compare rates from other companies so they are skilled at selling on more than just price. These agents are usually quite knowledgeable on their company’s products and that enables them to sell even at higher rates.
Listed below are exclusive agencies in Louisville willing to provide rate quotes.
Finding a good insurance agency should include more criteria than just the bottom line cost. Any agent in Louisville should be forthright in answering these questions:
- Do they feel the quoted coverages are adequate?
- Do they offer accident forgiveness?
- Do they have any clout with companies to ensure a fair claim settlement?
- Can glass claims be handled at your home?
- Do they offer claims assistance after hours?
- How would your car be valued if totaled?
- Will high miles depreciate repair valuations?
Learn about insurance coverages for a Cadillac XLR
Learning about specific coverages of your policy aids in choosing which coverages you need and proper limits and deductibles. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording. Shown next are the normal coverages offered by insurance companies.
Comprehensive coverage (or Other than Collision)
Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive coverage pays for things such as hitting a deer, hitting a bird, damage from getting keyed, fire damage and falling objects. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Collision coverage protection
Collision coverage pays to fix your vehicle from damage resulting from colliding with another car or object. You have to pay a deductible and then insurance will cover the remainder.
Collision insurance covers claims like colliding with another moving vehicle, crashing into a ditch, hitting a mailbox and backing into a parked car. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. You can also raise the deductible on your XLR in order to get cheaper collision rates.
Insurance for medical payments
Coverage for medical payments and/or PIP provide coverage for expenses like prosthetic devices, chiropractic care, X-ray expenses, ambulance fees and dental work. The coverages can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. It covers you and your occupants as well as getting struck while a pedestrian. PIP coverage is only offered in select states but can be used in place of medical payments coverage
This coverage provides protection from damage or injury you incur to other’s property or people that is your fault. It protects YOU against claims from other people, and doesn’t cover damage to your own property or vehicle.
It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see policy limits of 25/50/10 which stand for a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and $10,000 of coverage for damaged property. Occasionally you may see one number which is a combined single limit that pays claims from the same limit rather than limiting it on a per person basis.
Liability can pay for things such as medical expenses, attorney fees, loss of income, pain and suffering and legal defense fees. How much liability coverage do you need? That is up to you, but you should buy higher limits if possible. Kentucky requires drivers to carry at least 25/50/10 but it’s recommended drivers buy more coverage.
The chart below demonstrates why minimum state limits may not be adequate coverage.
Uninsured Motorist or Underinsured Motorist insurance
This coverage protects you and your vehicle from other motorists when they are uninsured or don’t have enough coverage. This coverage pays for medical payments for you and your occupants and damage to your Cadillac XLR.
Because many people have only the minimum liability required by law (which is 25/50/10), it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family. Normally the UM/UIM limits are set the same as your liability limits.
Smart shoppers get results
We just covered quite a bit of information on how to find cheap Cadillac XLR insurance in Louisville. The key concept to understand is the more times you quote, the higher your chance of finding affordable Cadillac XLR insurance quotes. You may even be surprised to find that the lowest priced insurance comes from a small local company. Regional companies may often insure only within specific states and give better rates as compared to the big name companies such as Progressive and GEICO.
There are still a few companies who do not provide the ability to get a quote online and many times these smaller companies only sell coverage through independent agents. Lower-priced insurance in Louisville can be found both online in addition to local insurance agencies, and you should be comparing both in order to have the best price selection to choose from.
Additional information is available below:
- Determining Your Vehicle’s Value and Repair Cost (Insurance Information Institute)
- What Auto Insurance is Cheapest for Drivers Under 21 in Louisville? (FAQ)
- Who Has Cheap Auto Insurance for Postal Workers in Louisville? (FAQ)
- Who Has Cheap Louisville Auto Insurance for Hybrid Vehicles? (FAQ)
- How Much is Car Insurance for Low Mileage Drivers in Louisville? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for 4×4 Vehicles in Louisville? (FAQ)
- Reducing Your Risks in a Car Crash Video (iihs.org)
- How to Avoid Buying a Flooded Car (Insurance Information Institute)
- Alcohol Impaired Driving FAQ (iihs.org)