2014 Cadillac ELR Car Insurance Rates – 7 Savings Tips

Want lower insurance rates for your Cadillac ELR? Did budget coverage turn out to be an expensive insurance policy? It’s quite common and many drivers have buyer’s remorse. Insurance companies such as State Farm, Farmers Insurance, Geico and Allstate persitently shower you with TV and radio ads and it is challenging if not impossible to avoid their marketing magic and effectively compare rates to find the best deal.

If you have insurance now or are shopping for new coverage, you can use this information to reduce the price you pay while maximizing coverage. Choosing the best insurance company for you is quite easy. Drivers just need to understand how to compare rates over the internet.

How to get insurance coverage quotes

All major insurance coverage companies such as Progressive, Geico, Allstate and State Farm allow consumers to get prices for coverage direct online. Comparing prices online is quite easy as all you need to do is type in the amount of coverage you want as requested by the quote form. When the form is submitted, the quote system gets credit information and your driving record and returns pricing information. Being able to quote online helps simplify price comparisons, but the time it takes to visit multiple sites and type in the same information is a waste of time. But it is imperative to get many rate quotes in order to get the lowest possible prices on insurance coverage.

The quickest way to locate the lowest prices utilizes a single form that obtains quotes from more than one company. This type of form saves time, requires less work, and makes comparison shopping much easier. After sending your information, it is rated and you are able to buy any of the price quotes you receive. If one or more price quotes are lower than your current rates, you can click and sign and buy the new coverage. The whole process can be completed in less than 10 minutes and may save quite a bit of money.

To get comparison pricing now, click here and submit your coverage information. If you have a policy now, it’s recommended you input the coverages identical to your current policy. This makes sure you will get comparison quotes for the exact same coverage.

Insurance advertisements

Consumers can’t avoid all the ads that claim the cheapest premium rates by Progressive, Geico, Allstate and State Farm. They all seem to convey the message that you can save if you move your coverage to them.

It sounds good, but how can they all have lower policy pricing? It’s all in how they say it.

Many companies have underwriting criteria for a prospective insured that will most likely be profitable. A good example of this type of risk profile could possibly be between the ages of 40 and 55, has no prior claims, and drives less than 10,000 miles a year. Any customer that matches those criteria will get very good premium rates and will most likely save a lot of money.

Insureds who fall short of the requirements will get a more expensive rate which translates to the customer not buying. The wording the ads use say “drivers that switch” not “everyone who quotes” save that much. That’s the way companies can make those statements. This illustrates why it is so important to get insurance quotes from several different companies. Because without a comparison, you cannot know which insurance company will have the best car insurance rates at this point in time.

Insurance discounts are available to slash your rates

Insurance can cost an arm and a leg, but there could be significant discounts that you may not even be aware of. Larger premium reductions will be automatically applied when you complete an application, but some need to be inquired about before being credited.

  • Discount for Home Ownership – Owning a house can save a few bucks since home ownership demonstrates responsibility.
  • Include Life Insurance and Save – Insurance companies who offer life insurance give a break if you buy some life insurance too.
  • Active Service Discounts – Having a deployed family member could trigger a small discount.
  • Early Renewal Discounts – Some larger companies give discounts for switching to them early. This can save 10% or more.
  • Accident Waiver – This one is not really a discount per se, but companies like Allstate and Progressive allow you one accident before hitting you with a surcharge if you are claim-free for a particular time prior to the accident.
  • Bundle and Save – If you can combine your home and auto policy with one insurance company you will save as much as 10 to 15 percent.
  • Claim Free – Insureds who avoid accidents and claims pay less when compared to insureds who have frequent claims or accidents.

While discounts sound great, it’s important to understand that some of the credits will not apply to the overall cost of the policy. Some only reduce specific coverage prices like liability, collision or medical payments. So when the math indicates you can get free auto insurance, company stockholders wouldn’t be very happy.

The best insurance companies and a selection of discounts can be read below.

  • State Farm may offer discounts for multiple autos, student away at school, accident-free, safe vehicle, and multiple policy.
  • American Family discounts include early bird, bundled insurance, mySafetyValet, Steer into Savings, and good student.
  • AAA offers discounts for good driver, pay-in-full, multi-car, AAA membership discount, and good student.
  • Geico policyholders can earn discounts including membership and employees, emergency military deployment, daytime running lights, defensive driver, and multi-vehicle.
  • Mercury Insurance may include discounts for location of vehicle, accident-free, professional/association, multi-policy, and low natural disaster claims.
  • Farmers Insurance includes discounts for alternative fuel, switch companies, youthful driver, business and professional, early shopping, and multi-car.
  • Progressive offers premium reductions for good student, homeowner, multi-policy, online quote discount, and continuous coverage.

If you are trying to find inexpensive insurance quotes, ask each insurance company what discounts are available to you. Some of the earlier mentioned discounts may not be offered everywhere.

Everyone needs different auto insurance coverages

When it comes to buying adequate coverage, there isn’t really a cookie cutter policy. Coverage needs to be tailored to your specific needs so this has to be addressed. Here are some questions about coverages that can help discover if your situation would benefit from professional advice.

  • How can I force my company to pay a claim?
  • Am I getting all the discounts available?
  • Can I afford to pay high deductible claims out of pocket?
  • Am I covered when using my vehicle for business?
  • Should I buy additional glass protection?
  • How do I insure my teen driver?
  • Should I carry comprehensive and collision coverage?
  • What exactly is covered by my policy?
  • Is there coverage for injuries to my pets?
  • Where can I find DUI or SR-22 insurance?

If you don’t know the answers to these questions but one or more may apply to you, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, complete this form or you can go here for a list of companies in your area. It’s fast, free and may give you better protection.

Coverages available on your insurance policy

Learning about specific coverages of insurance can be of help when determining the best coverages and the correct deductibles and limits. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording. Shown next are the usual coverages found on most insurance policies.

Liability

This coverage provides protection from damage that occurs to other people or property. This insurance protects YOU against claims from other people. Liability doesn’t cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 100/300/100 which means $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and a limit of $100,000 paid for damaged property.

Liability coverage protects against claims such as loss of income, structural damage and court costs. How much coverage you buy is a decision to put some thought into, but you should buy higher limits if possible.

Uninsured and underinsured coverage

This protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your 2014 Cadillac ELR.

Because many people carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is important protection for you and your family.

Collision protection

Collision coverage pays to fix your vehicle from damage resulting from colliding with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for claims like damaging your car on a curb, hitting a mailbox and crashing into a building. Collision coverage makes up a good portion of your premium, so consider removing coverage from older vehicles. Another option is to raise the deductible in order to get cheaper collision rates.

Coverage for medical payments

Med pay and PIP coverage pay for immediate expenses like EMT expenses, funeral costs and X-ray expenses. The coverages can be utilized in addition to your health insurance policy or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. PIP is not universally available and gives slightly broader coverage than med pay

Comprehensive coverages

This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims such as theft, damage from getting keyed, rock chips in glass, hail damage and vandalism. The maximum amount you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

A fool and his money are soon parted

We just presented a lot of ways to save on 2014 Cadillac ELR insurance. It’s most important to understand that the more rate comparisons you have, the better your comparison will be. You may even find the most savings is with a lesser-known regional company. These smaller insurers can often insure niche markets at a lower cost than the large multi-state companies such as Allstate or State Farm.

As you prepare to switch companies, you should never sacrifice coverage to reduce premiums. There are a lot of situations where an accident victim reduced collision coverage and discovered at claim time that it was a big mistake. The proper strategy is to find the BEST coverage at an affordable rate but still have enough coverage for asset protection.

Much more information about insurance coverage is located on the following sites: