Best Cadillac CTS-V Insurance in Columbus

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Insurance for Cadillac CTS-VWant to know an easy way to compare the cheapest Cadillac CTS-V insurance in Columbus? Expensive car insurance in Columbus can stress out your family's budget and make it impossible to make ends meet.

It's easy to assume that insurance companies don't want you to compare rates. Consumers who shop around for the cheapest price are inclined to switch car insurance companies because there is a good chance of getting low-cost coverage. A recent survey found that people who compared prices regularly saved an average of $3,500 over four years compared to drivers who didn't regularly shop around.

If finding the most affordable Cadillac CTS-V insurance in Columbus is your ultimate target, then having a good understanding the best ways to shop for coverage rates can make shopping around easier.

How to find low-cost rates for Cadillac CTS-V insurance in Columbus

The best way we recommend to get affordable Cadillac CTS-V insurance is to compare prices once a year from different companies who sell insurance in Columbus. Price quotes can be compared by following these steps.

  1. Take a few minutes and learn about the different coverages in a policy and the things you can control to prevent expensive coverage. Many rating criteria that are responsible for high rates such as getting speeding tickets and a less-than-favorable credit score can be rectified by being financially responsible and driving safely. Later in this article we will cover the details to help find cheaper rates and get additional discounts that may have been overlooked.
  2. Get rate quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can give quotes from one company like GEICO or Farmers Insurance, while independent agencies can quote rates for a wide range of companies.
  3. Compare the new rate quotes to your existing coverage to see if switching to a new carrier will save money. If you find a lower rate quote and change companies, verify that coverage does not lapse between policies.
  4. Provide adequate notice to your current company to cancel your current car insurance policy. Submit the application along with any required down payment to the new company. Once the application is submitted, store the proof of insurance certificate along with your vehicle registration.

One important bit of advice is that you use identical coverages on each price quote and and to get price quotes from as many carriers as you can. This helps ensure the most accurate price comparison and the best rate selection.

You have multiple insurers to purchase coverage from, and although it's a good thing to have multiple companies, it makes it harder to compare rates and cut insurance costs.

Finding affordable coverage in Columbus can be much easier if you know how to start. If you have a policy now or are looking for a new policy, use these techniques to get lower rates without reducing coverage. Consumers just have to know the most efficient way to buy auto insurance on the web.

Cadillac CTS-V insurance analysis

The coverage table below covers estimates of prices for Cadillac CTS-V models. Learning more about how insurance quotes are calculated can help you make informed decisions when shopping around for a new policy.

Cadillac CTS-V Insurance Rates in Columbus, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CTS-V $338 $604 $252 $14 $76 $1,284 $107
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Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Information does not factor in Columbus location which can alter auto insurance rates significantly.

Physical damage deductibles

One common question asked by Columbus drivers is how high should the physical damage deductibles be. The data tables below summarize the differences in price between high and low deductibles. The first price estimate table uses a $100 deductible and the second set of prices uses a $1,000 deductible.

Cadillac CTS-V insurance premium estimates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CTS-V $296 $604 $192 $12 $58 $1,187 $99
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Cadillac CTS-V insurance premium estimates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CTS-V $164 $318 $192 $12 $58 $744 $62
Get Your Own Custom Quote Go

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Estimates do not factor in specific zip code location which can impact rates noticeably.

We can estimate from the data above that using a $100 deductible costs approximately $37 more each month or $444 for a full year averaged for all CTS-V models than quoting the higher $1,000 deductible. Because you would be required to pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you normally average more than 24 months between claim filings, you would save more money by selecting a higher deductible.

How to determine when to raise your deductibles

Average monthly premium for $100 deductibles: $99
Average monthly premium for $1,000 deductibles (subtract): - $62
Monthly savings from raising deductible: $37
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $37
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 24 months

One important note is that a higher deductible means you pay more out-of-pocket if you have a claim. You need to have some extra funds in order to pay the deductible for vehicle repair.

Four Tips to Get Cheaper Columbus Insurance Costs

Many things are used in the calculation when you get your auto insurance bill. Some of the criteria are obvious such as your driving history, although some other factors are less obvious such as whether you are married or your financial responsibility. The best way to find cheaper insurance is to take a look at a few of the rating criteria that play a part in calculating the rates you pay for insurance. When you understand what influences your rates, this allows you to make good choices that will entitle you to lower premium levels.

Shown below are just a few of the factors utilized by car insurance companies to help set prices.

Discounts for married drivers - Having a wife or husband can actually save you money on your insurance policy. Marriage is viewed as being more mature and responsible and statistics show being married results in fewer claims.

Experienced drivers save more - Young drivers in Ohio tend to be less responsible when driving with friends so insurance rates are higher. Adding a teenage driver to your policy can be quite pricey. Older people are more cautious drivers, cost insurance companies less in claims, and usually have better credit.

The chart below uses these variables: single driver, full coverage with $250 deductibles, and no discounts or violations.

High insurance claims frequency drives up insurance rates - If you tend to file frequent claims, you can look forward to higher premiums or even policy non-renewal. Car insurance companies in Ohio give better rates to drivers who are claim-free. Your insurance policy is intended to be relied upon for claims that you cannot pay yourself.

More performance means higher premiums - The type of car or truck you need to insure makes a big difference in how high your rates are. The lowest performance passenger cars usually have the lowest premiums, but the cost you end up paying is determined by many additional factors.

The chart below uses these variables: married female driver age 50, full coverage with $500 deductibles, and no discounts or violations. It compares Cadillac CTS-V insurance rates compared to other models that have a range of risk factors.

Insurance loss data for Cadillac CTS-V vehicles - Insurers use claims history to help set a rate to offset losses. Vehicles that historically have high amounts or severity of claims will cost more to insure. The next table shows the actual insurance loss data for Cadillac CTS-V vehicles.

For each insurance policy coverage type, the statistical loss for all vehicles, without regard to make or model, is represented as 100. Numbers below 100 indicate better than average losses, while numbers above 100 indicate frequent claims or statistically larger claims.

Insurance Loss Ratings for Cadillac CTS-V Vehicles
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Cadillac CTS-V 2dr 174 74 135

Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Cheaper coverage is out there

Insureds who switch companies do it for a variety of reasons including delays in paying claims, policy non-renewal, not issuing a premium refund and delays in responding to claim requests. Regardless of your reason, switching companies can be less work than you think.

When buying insurance coverage, 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 uninsured motorist or liability limits and discovered at claim time that a couple dollars of savings turned into a financial nightmare. Your goal should be to buy enough coverage for the lowest cost, but do not skimp to save money.

In this article, we covered quite a bit of information on how to get a better price on Cadillac CTS-V insurance in Columbus. It's most important to understand that the more rate quotes you have, the better your comparison will be. You may even discover the best premium rates are with an unexpected company.

Steps to quoting cheaper Cadillac CTS-V insurance in Columbus

Really, the only way to get cheaper Cadillac CTS-V insurance is to regularly compare quotes from insurance carriers in Columbus.

  1. It will benefit you to learn about how companies set rates and the things you can change to keep rates in check. Many factors that are responsible for high rates like traffic tickets, fender benders, and a not-so-good credit rating can be amended by improving your driving habits or financial responsibility.
  2. Obtain price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can provide rates from one company like GEICO or State Farm, while independent agents can provide rate quotes from multiple companies.
  3. Compare the new quotes to your existing policy to see if you can save by switching companies. If you find a lower rate quote, make sure there is no lapse in coverage.

One key aspect of rate comparisons is to try to use similar coverage information on every quote request and and to analyze all possible companies. This ensures a level playing field and many rates to choose from.

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