Save Money on Nissan GT-R Insurance in Columbus

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Insurance rates Nissan GT-R in ColumbusAmazingly, most drivers have purchased from the same company for at least four years, and practically 40% of insurance customers have never compared quotes from other companies. Ohio insurance shoppers could save nearly 55% every year, but they don't believe the amount of savings they would get if they swap their current policy for a cheaper one.

It takes a few minutes, but the best way to save money on Nissan GT-R insurance is to make a habit of comparing prices annually from providers that insure vehicles in Columbus.

  • First, spend some time learning about how your policy works and the modifications you can make to prevent high rates. Many rating criteria that result in higher prices such as your driving record and poor credit history can be remedied by making minor changes in your lifestyle.
  • Second, request rate estimates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from one company like Progressive or Farmers Insurance, while agents who are independent can quote prices for a wide range of companies.
  • Third, compare the new rate quotes to your existing coverage to see if a cheaper price is available in Columbus. If you find a lower rate quote, make sure coverage is continuous and does not lapse.
  • Fourth, provide written notification to your current company to cancel your current policy and submit a down payment along with a signed application to the new company. When you receive it, store the certificate verifying proof of insurance in your vehicle.

An important part of this process is to use the same amount of coverage on every quote request and and to analyze all possible companies. Doing this ensures an apples-to-apples comparison and the best rate selection.

This information will tell you the best way to buy inexpensive car insurance and some money-saving tips. If you currently have car insurance, you will surely be able to reduce the price you pay using the techniques presented in this article. But Ohio vehicle owners can benefit by having an understanding of how the larger insurance companies charge you for coverage and use it to your advantage.

To find the best auto insurance rates, there are several ways to compare rate quotes from local Columbus auto insurance companies. The simplest method to find the cheapest Nissan GT-R insurance rates is to perform an online rate comparison. When comparing auto insurance rates, know that making a lot of price comparisons increases the chance that you will find more affordable insurance. Not every company allows you to get online rate quotes, so you also need to get rates on coverage from those companies, too.

The auto insurance companies shown below provide quotes in Ohio. If multiple providers are shown, we suggest you visit as many as you can in order to get a fair rate comparison.

Coverage statistics and figures

The rate table shown next outlines different insurance costs for Nissan GT-R models. Learning as much as possible about how auto insurance policy rates are calculated can assist in making smart choices when purchasing an auto insurance policy.

Nissan GT-R Insurance Rates in Columbus, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
GT-R Premium AWD 2-Dr $202 $384 $252 $14 $76 $928 $77
GT-R AWD 2-Dr $202 $384 $252 $14 $76 $928 $77
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Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Rate quotes do not factor in specific location which can revise rates substantially.

Safe drivers pay less for auto insurance

The example below highlights how traffic violations and at-fault claims increase Nissan GT-R car insurance costs for different age groups. The premiums are based on a single female driver, comprehensive and collision coverage, $500 deductibles, and no additional discounts are factored in.

Cost difference between full coverage and liability

The chart below shows the comparison of Nissan GT-R yearly insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The data assumes no accidents, no driving violations, $250 deductibles, single marital status, and no policy discounts are applied.

Should you pay for full coverage?

There is no clear-cut rule of when to stop paying for physical damage coverage on your policy, but there is a general school of thought. If the annual cost of coverage is about 10% or more of the settlement you would receive from your company, then you may want to consider only buying liability coverage.

For example, let's pretend your Nissan GT-R claim settlement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $6,000 after you pay the deductible. If you are paying over $600 a year for your policy with full coverage, the it may be a good time to stop paying for full coverage.

There are some scenarios where removing full coverage is not a good plan. If you still owe money on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.

Columbus Insurance Costs are Influenced by These Factors

Part of the car insurance buying process is learning the factors that go into determining your policy premiums. When consumers understand what controls the rates you pay, this enables informed choices that can earn you much lower annual insurance costs. Lots of factors are part of the calculation when you get a price on insurance. Most are fairly basic like an MVR report, but other factors are more obscure such as your marital status or your commute time.

The itemized list below are most of the major factors that factor into your prices.

  • Consolidating policies can get discounts - Most major car insurance companies give better rates for people that purchase more than one policy such as combining an auto and homeowners policy. Discounts can be ten or even fifteen percent. Even if you're getting this discount you still need to compare other company rates to make sure you are getting the best deal.There is a chance you can save even more by buying from different companies
  • Gender matters - Over time, data shows that men are more aggressive behind the wheel. However, this does not mean men are worse drivers. Both sexes get in auto accidents in similar numbers, but the males have accidents that have higher claims. In addition to higher claims, males also get cited for more serious violations such as reckless driving. Young males are the most expensive to insure and therefore have the most expensive car insurance rates.

    The diagram below shows the difference between Nissan GT-R auto insurance costs for male and female drivers. The rates are based on no violations or accidents, full coverage, $1,000 deductibles, drivers are not married, and no discounts are taken into consideration.

  • Avoid car insurance policy lapses - Having a gap between insurance policy dates is a quick way to drive up your policy premiums. In addition to paying higher premiums, the inability to provide proof of insurance will get you a fine, jail time, or a revoked license. You could then be forced to file a SR-22 with the Ohio motor vehicle department.
  • Buy a safe car and pay less - Cars with high safety ratings get lower rates. Highly rated vehicles reduce the chance of injuries and fewer injuries means lower claim amounts passed on to you as lower rates. If your Nissan GT-R is rated at least an "acceptable" rating on the Insurance Institute for Highway Safety website it may cost less to insure.
  • Where you call home can modify costs - Having an address in less populated areas has it's advantages when shopping for auto insurance. Lower population means less chance of accidents as well as less vandalism and auto theft. Drivers who live in large Ohio cities have to deal with more aggressive driving styles and longer commutes to work. More time behind the wheel means higher likelihood of an accident.
  • Limits of liability protection - Your car insurance policy's liability coverage provides coverage if ever you are found to be at fault for causing personal injury or damage in an accident. Liability provides legal defense coverage to attempt to prove you were not liable. It is affordable coverage when compared to the cost of physical damage coverage, so do not skimp.
  • Car insurance rates and age - Drivers with little experience are statistically proven to be more careless behind the wheel so car insurance rates are higher. Having to add a youthful driver onto your car insurance can break the bank. Older people are shown to be more cautious, cause fewer claims and accidents, and are generally more financially stable.

    The following data uses these assumptions: single driver, full coverage with $1000 deductibles, and no discounts or violations.

  • Nissan GT-R insurance loss probability - Car insurance companies study historical loss data as a way to help calculate a profitable premium price. Models that the data shows to have increased claim numbers or amounts will have a higher premium rate. The next table illustrates the compiled insurance loss statistics for Nissan GT-R vehicles.

    For each coverage type, the claim probability for all vehicles, regardless of make or model, is set at 100. Values that are under 100 indicate a favorable loss history, while values over 100 indicate more frequent losses or a tendency for claims to be larger.

    Nissan GT-R Insurance Claim Statistics
    Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Nissan GT-R 2dr 4WD 373 82 317

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

Why you need Nissan GT-R insurance in Ohio

Even though it's not necessarily cheap to insure a Nissan in Columbus, insurance is not optional due to several reasons.

  • The majority of states have mandatory insurance requirements which means you are required to buy a specific minimum amount of liability in order to license the vehicle. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
  • If you have a lien on your vehicle, almost all lenders will make it a condition of the loan that you buy insurance to ensure they get paid if you total the vehicle. If you default on your policy, the bank or lender will purchase a policy for your Nissan for a much higher rate and require you to reimburse them for the expensive policy.
  • Auto insurance preserves both your car and your assets. It will also reimburse you for medical bills for you, your passengers, and anyone else injured in an accident. One policy coverage, liability insurance, will also pay to defend you if you are named as a defendant in an auto accident. If your Nissan gets damaged, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage.

The benefits of carrying adequate insurance are without a doubt worth the cost, specifically if you ever have a liability claim. In a recent study of 1,000 drivers, the average customer is wasting up to $869 every year so compare rate quotes every year to ensure rates are competitive.