No normal person likes paying for insurance, in particular when the cost is too high.
Unbelievable but true according to a study about 70% of customers have remained with the same insurance company for well over three years, and roughly 40% of drivers have never compared rate quotes at all. With the average insurance premium being $2,134, Louisville drivers could save an average of about 30% each year, but they underestimate the large savings they would see if they switched to a more affordable policy.
How to save money on Volkswagen Touareg insurance in Louisville
Really, the only way to find better pricing on Volkswagen Touareg insurance is to regularly compare price quotes from insurers who provide auto insurance in Louisville.
Step 1: Gain an understanding of the different coverages in a policy and the modifications you can make to keep rates down. Many factors that result in higher prices such as your driving record and an imperfect credit history can be controlled by making minor driving habit or lifestyle changes. Later in this article we will cover the details to find cheap rates and get additional discounts that may be available.
Step 2: Obtain price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give rate quotes from a single company like GEICO or State Farm, while independent agencies can give you price quotes from multiple companies.
Step 3: Compare the new rates to your existing coverage to see if a cheaper rate is available in Louisville. If you can save some money and buy the policy, make sure there is no lapse in coverage.
Step 4: Provide notification to your current agent or company of your intention to cancel the current policy. Submit any necessary down payment along with the completed application to the new insurer. Once the paperwork is finalized, put the new proof of insurance paperwork in your vehicle’s glove compartment or console.
One thing to remember is that you’ll want to compare identical deductibles and limits on each price quote and and to get quotes from as many different insurance providers as possible. This provides a fair price comparison and maximum price selection.
With consumers having so many companies and agents to choose from, it is very difficult to locate the lowest price insurer.
Consumers should take time to do price comparisons periodically because rates trend upward over time. If you had the best premium rates on Volkswagen Touareg insurance in Louisville six months ago there may be better deals available now. There is a lot of wrong information about Touareg insurance out there, but I’m going to show you a lot of great tips on how to save money.
The purpose of this post is to introduce you to how auto insurance companies operate and how to save the most money. If you have a current insurance policy, you will be able to reduce premiums using the concepts you’re about to learn. But Kentucky vehicle owners benefit from understanding how big insurance companies price insurance differently because it can help you find the best coverage.
Insurance policy discounts you can’t miss
Insurance is not inexpensive, but there may be some discounts to help bring down the price. Certain credits will be shown at the time of quoting, but a few must be manually applied prior to getting the savings.
- Responsible Driver Discount – Drivers without accidents can save up to 40% or more on their Louisville car insurance quote than less cautious drivers.
- Good Grades Discount – Getting good grades may save you up to 25%. Most companies allow this discount up until you turn 25.
- Driver’s Ed – It’s a good idea to have your young drivers enroll in driver’s education if it’s offered in school.
- Professional Memberships – Being in qualifying employment or professional organizations could earn you a nice discount on your next insurance statement.
- Defensive Driver – Passing a driver safety course could save 5% or more if your company offers it.
- Multiple Cars – Having all your vehicles on a single policy can reduce rates for all insured vehicles.
Please keep in mind that most discounts do not apply to your bottom line cost. Most only apply to individual premiums such as liability and collision coverage. Despite the appearance that adding up those discounts means a free policy, that’s just not realistic.
The illustration below shows the comparison of Volkswagen Touareg premium costs with and without discounts. The prices are based on a male driver, no tickets, no at-fault accidents, Kentucky state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, claim-free, marriage, homeowner, and multi-policy discounts applied.
To choose insurers offering insurance discounts in Louisville, follow this link.
All the larger insurance companies like 21st Century, Allstate and State Farm make it easy to get prices on their websites. The process is easy for anyone because it’s just a matter of typing in your coverage information into the quote form. When the form is submitted, their system pulls your driving record and credit report and returns pricing information. The ability to get online quotes for Volkswagen Touareg insurance in Louisville makes it simple to compare prices and it’s necessary to do this if you want to find the most affordable premium on insurance.
To quickly find out how much you can save on insurance, compare rate quotes from the providers shown below. To compare your current rates, we recommend you complete the form with your coverages exactly as they are listed on your policy. Doing this assures you are getting a price comparison based on similar coverages.
The companies in the list below offer comparison quotes in Louisville, KY. If you wish to find the best car insurance in KY, it’s highly recommended you visit two to three different companies in order to get a fair rate comparison.
Volkswagen Touareg insurance coverage information
The data table shown next showcases a range of insurance rates for Volkswagen Touareg models. Being more informed about how auto insurance premiums are figured can help customers make smart choices when comparing insurance quotes.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Touareg 3 Turbo Diesel AWD 4-Dr||$340||$778||$424||$26||$128||$1,696||$141|
|Touareg 3.6 AWD 4-Dr||$340||$778||$424||$26||$128||$1,696||$141|
|Get Your Own Custom Quote Go|
Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Table data does not factor in zip code location which can influence auto insurance rates greatly.
Rate increases following a ticket or accident
The illustration below highlights how traffic violations and fender-benders can influence Volkswagen Touareg auto insurance costs for different age groups of insureds. The price estimates are based on a married female driver, full coverage, $100 deductibles, and no discounts are applied to the premium.
Liability only or full coverage
The example below shows the comparison of Volkswagen Touareg annual premium costs when comparing full coverage to liability only. The costs are based on a clean driving record, no at-fault accidents, $250 deductibles, drivers are single, and no additional discounts are factored in.
Guidelines for dropping full coverage
There is no clear-cut formula of when to stop paying for physical damage insurance, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your Volkswagen Touareg settlement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, you would only receive $8,000 after the deductible is paid. If premium cost is more than $800 a year for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.
There are some cases where removing full coverage is not in your best interest. If you still have a lienholder on your title, you have to maintain full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should keep full coverage on your policy.
Buy Volkswagen Touareg Insurance at a Discount
Smart consumers have a good feel for some of the things that come into play when calculating the level of your policy premiums. When you understand what controls the rates you pay, this enables you to make decisions that may reward you with cheaper rates.
The list below includes just a few of the factors used by your company to calculate prices.
- Safety first – Safer cars tend to have better insurance rates. Highly rated vehicles help reduce the chance of injuries in an accident and any reduction in injury severity means your insurance company pays less which can mean better rates for you.
- Fewer miles means better rates – The higher the miles on your Volkswagen annually the higher your rates will be. The majority of insurers apply a rate based upon how much you drive. Cars used primarily for pleasure use qualify for better rates than cars that get driven a lot. Ask your agent if your vehicle rating shows annual mileage. Having the wrong rating on your Touareg can cost quite a bit.
- Don’t buy add-on coverages that may not be needed – There are many extra bells and whistles that may not really be needed if you don’t pay attention. Insurance for rental car reimbursement, death and dismemberment, and extra life insurance coverage could be just wasting money. They may sound like good ideas when talking to your agent, but now you might not need them so consider taking them off your policy.
Teen driver insurance rates – More experienced drivers have been proven to be more responsible, statistically cause fewer accidents, and are generally more financially stable. Young drivers are proven to be inattentive behind the wheel so they pay higher insurance rates.
The next chart is based on a single driver, full coverage with $100 deductibles, and no discounts or violations.
Gals tend to be lower risk – Statistics show that females tend to be a little less risky than males. That doesn’t necessarily mean that women are better drivers. Females and males tend to get into at-fault accidents in similar percentages, but the men tend to have more serious accidents. Men also statistically get more serious tickets like DWI (DUI) or reckless driving. Youthful male drivers tend to get in the most accidents so they pay the highest premiums.
The information below illustrates the difference between Volkswagen Touareg premium costs for male and female drivers. The premiums are based on no claims or driving violations, full coverage, $250 deductibles, drivers are single, and no other discounts are factored in.
- Too many claims will drive premiums up – Car insurance companies in Kentucky generally give cheaper rates to insureds who are claim-free. If you are the type of insured that files lots of claims you can look forward to higher rates. Your insurance policy is intended to be relied upon for the large, substantial claims.
- Discounts for theft deterrents – Buying a car with anti-theft technology or alarm system can earn a premium discount. Anti-theft devices like GM’s OnStar, tamper alarm systems and vehicle immobilizers help track and prevent your vehicle from being stolen.
Loss statistics for a Volkswagen Touareg – Insurance companies use past insurance losses when they calculate premium prices for each model. Vehicles that statistically have higher number or severity of losses will cost more for coverage.
The table shown below demonstrates the insurance loss data for Volkswagen Touareg vehicles. For each type of coverage, the loss probability for all vehicles, as a total average, is equal to 100. Values that are under 100 indicate better than average losses, while percentages above 100 point to more losses or a tendency for claims to be larger.
Auto Insurance Loss Data for Volkswagen Touareg Models Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Volkswagen Touareg 4dr 4WD 131 115 133 56 65 87BETTERAVERAGEWORSE
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
When to get professional advice
Always remember that when buying proper insurance coverage, there really is no single plan that fits everyone. Each situation is unique.
Here are some questions about coverages that can aid in determining if your situation will benefit from professional help.
- Do I need higher collision deductibles?
- Should I buy more coverage than the required Kentucky minimum liability coverage?
- When can my company non-renew my policy?
- Is rental equipment covered for theft or damage?
- If I use my vehicle for business use is it covered?
- What is an umbrella policy?
- Is business property covered if stolen from my car?
- Can I afford to pay high deductible claims out of pocket?
- What are the financial responsibility laws in my state?
- What is medical payments coverage?
If you’re not sure about those questions then you might want to talk to an insurance agent. To find lower rates from a local agent, take a second and complete this form.
Insurance agencies near you
A small number of people prefer to visit with an insurance agent and that is just fine! An additional benefit of getting free rate quotes online is that drivers can save money and get lower rates and also buy local. And supporting small agencies is important especially in Louisville.
To make it easy to find an agent, after completing this short form, the coverage information is immediately sent to local insurance agents in Louisville who will gladly provide quotes to get your business. It makes it easy because there is no need to do any legwork due to the fact that quote results will go to the email address you provide. You can find better rates AND an agent nearby. If for some reason you want to quote rates from a particular provider, don’t hesitate to go to their quote page and submit a quote form there.
If you want a local agent, it’s helpful to know the different types of agents and how they operate. Auto insurance agents are considered either independent agents or exclusive agents depending on their employer.
Independent Insurance Agents
These type of agents are not employed by one company so they have the ability to put coverage through lots of different companies and possibly get better coverage at lower prices. If premiums increase, your agent can just switch to a different company and you stay with the same agent. When searching for an agent, you will want to check rates from a couple of independent agencies for the best price selection.
Featured below is a list of independent insurance agents in Louisville who may provide price quotes.
Exclusive Insurance Agencies
Agents in the exclusive channel work for only one company such as American Family, State Farm, and AAA. Exclusive agencies are unable to provide prices from multiple companies so they really need to provide good service. They are usually quite knowledgeable on what they offer which can be an advantage.
Listed below is a short list of exclusive insurance agencies in Louisville that can give you rate quotes.
Picking an insurance agent is decision based upon more than just the quoted price. These are some valid questions you should ask.
- Is there a 24/7 contact number?
- Do they prorate repair cost based on vehicle mileage?
- Are they in the agency full-time?
- Will the company cover a rental car if your car is getting fixed?
- What insurance company do they write the most business with?
- Are they paid to recommend certain coverages?
- Is auto insurance their primary focus in Louisville?
- Do they review policy coverages at every renewal?
Why you need auto insurance
Despite the potentially high cost of Volkswagen Touareg insurance, insurance may not be optional for several reasons.
- The majority of states have mandatory insurance requirements which means you are required to buy a specific minimum amount of liability coverage 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 you have a lien on your vehicle, it’s most likely the lender will force you to buy insurance to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the lender may have to buy a policy to insure your Volkswagen for a lot more money and require you to pay for the much more expensive policy.
- Insurance protects not only your car but also your assets. It will also reimburse you for hospital and medical expenses incurred in an accident. Liability insurance, one of your policy coverages, also pays for attorney fees and expenses if you are named as a defendant in an auto accident. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.
The benefits of insuring your car are without a doubt worth the cost, specifically if you ever have a liability claim. According to a recent study, the average American driver overpays more than $750 every year so smart consumers compare quotes every year to be sure current rates are still competitive.
The best insurance company isn’t always the cheapest
The cheapest Volkswagen Touareg insurance in Louisville is available on the web and from local agencies, and you should be comparing both to have the best chance of lowering rates. Some insurance companies do not provide online price quotes and most of the time these small, regional companies work with local independent agencies.
Drivers who switch companies do it for any number of reasons including delays in paying claims, an unsatisfactory settlement offer, high rates after DUI convictions and even questionable increases in premium. It doesn’t matter what your reason, finding a great new company is pretty easy and you might even save some money in the process.
In this article, we covered many ways to reduce Volkswagen Touareg insurance auto insurance rates online in Louisville. The most important thing to understand is the more quotes you get, the more likely it is that you will get a better rate. You may even be surprised to find that the biggest savings come from an unexpected company.
Steps to quoting cheaper Volkswagen Touareg insurance in Louisville
If saving money is your primary concern, then the best way to find low-cost Volkswagen Touareg insurance is to start doing an annual price comparison from insurers who sell insurance in Louisville. Drivers can shop around by completing these steps.
- First, take a little time to learn about how car insurance works and the measures you can take to prevent rate increases. Many things that result in higher prices like accidents, traffic violations, and a bad credit rating can be improved by making minor changes to your lifestyle.
- Second, compare rates from direct, independent, and exclusive agents. Direct and exclusive agents can only give rate quotes from one company like GEICO or Farmers Insurance, while independent agents can quote prices for a wide range of companies. Compare rates now
- Third, compare the new quotes to your existing rates and determine if there is any savings. If you can save some money and decide to switch, ensure there is no coverage lapse between policies.
One important bit of advice is to try to compare identical coverage information on each quote and and to get rate quotes from as many companies as you can. Doing this ensures an apples-to-apples comparison and a complete price analysis.
For more information, link through to the resources below:
- Older Driver Statistics (Insurance Information Institute)
- What Car Insurance is Cheapest for a Nissan Versa in Louisville? (FAQ)
- What Auto Insurance is Cheapest in Louisville, Kentucky? (FAQ)
- How to Avoid Staged Accidents (State Farm)
- Coverage Information (Progressive Insurance)
- Side Impact Crash Tests (iihs.org)