Cheapest Insurance for a Scion xB in Columbus

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Insurance quote for Scion xB in ColumbusAre you researching the cheapest auto insurance rates in Columbus, OH? Columbus drivers have a choice when trying to find the lowest priced Scion xB insurance. You can either spend your time struggling with agents to compare prices or use the internet to get rate quotes.

There are more efficient ways to shop for auto insurance and you need to know the best way to quote coverages for a Scion and find the lowest possible price from both online companies and Columbus agents.

Amazingly, nearly 70% of drivers have been with the same company for well over three years, and about 40% of consumers have never quoted rates to find affordable coverage. Columbus drivers could save an average of approximately 55% each year by just comparing quotes, but they won't spend time to compare rates.

If you have coverage now or are looking for a new policy, follow these tips to find the best rates while maintaining coverages. The goal of this article is to help educate you on how car insurance companies work and some tips to save money. You just have to learn the most efficient way to shop over the internet.

Rates and detailed analysis

The premium table below showcases different insurance rates for Scion xB models. Being aware of how prices are figured can aid in making smart choices when purchasing an insurance policy.

Scion xB Insurance Rates in Columbus, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
XB 2WD $150 $240 $214 $12 $64 $680 $57
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Price data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Rate quotes do not factor in your specific Columbus location which can increase or decrease premium rates greatly.

Physical damage deductibles: Should you raise them?

When buying car insurance, a common question is how low should you set your deductibles. The following insurance rates summarize the difference in cost when you select higher and lower physical damage deductibles. The first data set uses a $100 physical damage deductible and the second price chart uses a $1,000 deductible.

Scion xB insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
XB 2WD $196 $290 $226 $14 $68 $819 $68
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Scion xB insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
XB 2WD $108 $152 $226 $14 $68 $568 $47
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Premium costs do not factor in vehicle garaging location which can affect auto insurance rates substantially.

Based on the data above, we can derive that using a $100 deductible will cost in the ballpark of $21 more each month or $252 every year than buying the higher $1,000 deductible. Since the policyholder would be required to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to go more than 43 months between claims, you would most likely save money if you elect the higher deductible. The numbers below show the way this decision is made.

Average monthly premium for $100 deductibles: $68
Average monthly premium for $1,000 deductibles (subtract): - $47
Monthly savings from raising deductible: $21
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $21
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 43 months

One important caveat is that a higher deductible results in a higher out-of-pocket expense when you have a comprehensive or collision claim. You must have some available funds in the event you need to pay more to get your vehicle repaired.

The diagram below shows how choosing a deductible and can affect Scion xB yearly insurance costs for each different age category. Data assumes a married female driver, comprehensive and collision coverage, and no discounts are applied.

The Scion xB Insurance Cost Equation

A large part of saving on car insurance is knowing the factors that go into determining your policy premiums. If you know what influences your rates, this empowers consumers to make smart changes that can help you get lower rates.

The factors shown below are a few of the things used by insurance companies to determine your rates.

  • Being married reduces risk - Having a wife or husband may save some money compared to being single. It usually means you are more financially stable and it's proven that married drivers tend to file fewer claims.
  • Extra coverages that aren't used - There are many additional extra coverages that can add up when buying car insurance. Coverages for replacement cost coverage, accident forgiveness, and additional equipment coverage may be wasting your money. They may seem like a good idea at first, but now you might not need them so remove them and pocket the money.
  • Claim-free discounts can add up - Insurance companies in Ohio generally give the best rates to policyholders that do not abuse their auto insurance. If you frequently file small claims, you can expect much higher rates or policy non-renewal. Your insurance policy is intended to be relied upon for claims that pose a financial burden.
  • Save money with good credit - Having a bad credit history will be a significant factor in determining premium rates. People with very good credit scores tend to be better risks to insure than drivers who have bad credit. If your credit is low, you may save money insuring your Scion xB by improving your credit score.
  • Better prices for no policy lapses - Having a gap between insurance policy dates can be a sure-fire way to increase your car insurance rates. Not only will you pay more, failure to provide proof of insurance could earn you fines and jail time. You could then be forced to submit proof of financial responsibility or a SR-22 with the Ohio department of motor vehicles.
  • More performance means higher prices - The make and model of the car you are insuring makes a huge difference in your premium level. Low performance passenger vehicles generally receive the lowest base rates, but your final cost has many other factors.

    The following data is based on a single male driver age 50, full coverage with $1000 deductibles, and no discounts or violations. It compares Scion xB policy rates compared to other models of vehicles that have a range of risk factors.

  • Insurance loss data for a Scion xB - Companies include the past claim history for a vehicle when determining insurance prices. Models that the data determines to have increased losses will have higher rates for specific coverages.

    The next table illustrates the collected loss data for Scion xB vehicles. For each coverage category, the statistical loss for all vehicles, regardless of make, model or trim level, is represented as 100. Values that are below 100 are indicative of better than average losses, while numbers that are greater than 100 point to more losses or larger claims.

    Scion xB Insurance Claim Statistics
    Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Scion xB 86 92 89 148 127 116

    Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Quote. Compare. Save.

As you restructure your insurance plan, make sure you don't buy lower coverage limits just to save a few bucks. There are many occasions where an insured cut comprehensive coverage or liability limits and found out when filing a claim that they should have had better coverage. The goal is to buy a smart amount of coverage at the best cost, but do not skimp to save money.

People who switch companies do it for a variety of reasons including delays in responding to claim requests, high prices, poor customer service and policy non-renewal. It doesn't matter what your reason, finding a great new company can be pretty painless.

You just learned quite a bit of information on how to save on Scion xB insurance in Columbus. It's most important to understand that the more you quote Columbus auto insurance, the better your chances of lowering your premium rates. You may even be surprised to find that the biggest savings come from a lesser-known regional company.

Steps to finding lower priced Scion xB insurance in Columbus

Really, the only way to get cheaper Scion xB insurance in Columbus is to compare prices once a year from insurers who sell insurance in Ohio.

  1. Try to comprehend policy coverages and the things you can change to prevent expensive coverage. Many rating criteria that result in higher rates like inattentive driving and an imperfect credit history can be rectified by making lifestyle changes or driving safer.
  2. Obtain price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can provide rates from a single company like Progressive and State Farm, while independent agents can give you price quotes from multiple sources.
  3. Compare the new rate quotes to your existing coverage and determine if there is any savings. If you find a better price and change companies, make sure there is no lapse in coverage.
  4. Provide proper notification to your current company of your intent to cancel your current policy. Submit a down payment along with a completed application to the new company. Immediately put the new proof of insurance certificate in your vehicle.

One thing to remember is to use identical limits and deductibles on each quote and and to look at as many companies as feasibly possible. Doing this guarantees a fair rate comparison and the best price selection.

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