Lower Your 2006 Cadillac SRX Car Insurance Cost

Trying to find better insurance coverage rates for your Cadillac SRX? Expensive insurance coverage can dwindle your bank account and put a big crunch on your finances. Doing a price comparison is free, only takes a few minutes, and is a good way to reduce premiums and put more money in your pocket.

With so many insurance companies to choose from, it is very difficult to locate the cheapest company.

Your Cadillac SRX insurance rate is a complex equation

An important part of buying insurance is that you know some of the elements that come into play when calculating your insurance coverage rates. Having a good understanding of what determines base rates enables informed choices that could result in better insurance coverage rates.

The list below includes some of the factors insurance coverage companies consider when setting premiums.

  • Your spouse saves you money – Having a spouse can get you a discount when buying insurance coverage. Having a spouse is viewed as being more mature than a single person and it’s proven that drivers who are married are more cautious.
  • Careful drivers pay lower rates – Careful drivers tend to pay less for car insurance than people who have multiple driving citations. Even a single speeding ticket can boost insurance rates by as much as thirty percent. Drivers who get severe violations such as reckless driving, hit and run or driving under the influence may be required to submit a SR-22 or proof of financial responsibility with their state motor vehicle department in order to drive a vehicle legally.
  • Liability coverage is peace of mind – Liability coverage is the coverage that protects you if ever you are found to be at fault for damages from an accident. Liability insurance provides legal defense up to the limits shown on your policy. This coverage is very inexpensive when compared with rates for comp and collision, so do not cut corners here.
  • Where do you drive? – The more miles you rack up on your Cadillac in a year’s time the higher your rate. Most companies apply a rate determined by how the vehicle is used. Autos that are left in the garage get more affordable rates as compared to vehicles used primarily for driving to work. Verify your insurance coverage policy is rated on how each vehicle is driven. If your policy improperly rates your SRX may be wasting your money.
  • Car features impact rates – Purchasing a vehicle with an alarm system can help lower your rates. Theft prevention devices such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all aid in stopping auto theft.
  • Bundling policies can get discounts – Most companies give discounts to customers who buy several policies from them, otherwise known as a multi-policy discount. If you currently are using one company, it’s still a good idea to shop around to confirm you are receiving the best rates possible.
  • High deductibles save money – Your deductibles represent how much money you are willing to pay out-of-pocket before a claim is paid by your company. Physical damage insurance, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. Some examples of claims that would be covered would be colliding with a building, damage from fire, or theft. The more the insured has to pay upfront, the bigger discount you will receive for SRX coverage.
  • Don’t let your coverage lapse – Driving with no insurance is against the law and your next policy will cost more because you let your coverage have a gap. Not only will you pay more, getting caught without coverage can result in a steep fine or even jail time.

How to save on 2006 Cadillac SRX insurance

Car insurance can cost a lot, but there could be available discounts to help bring down the price. Most are applied at the time of quoting, but a few must be asked for before they will apply.

  • Seat Belts Save – Drivers who require all occupants to buckle their seat belts could cut 10% or more off your medical payments premium.
  • Drive Less and Save – Low mileage vehicles can earn lower rates on the low mileage vehicles.
  • Resident Student – Kids in college living away from home attending college and do not have a car may be able to be covered for less.
  • New Car Discount – Putting insurance coverage on a new car can cost up to 25% less due to better safety requirements for new cars.
  • Accident Waiver – A few companies allow you one accident before raising your premiums if your claims history is clear for a set time period.

It’s important to note that some of the credits will not apply to the entire policy premium. The majority will only reduce specific coverage prices like liability, collision or medical payments. Just because it seems like all the discounts add up to a free policy, it just doesn’t work that way. But all discounts will reduce the amount you have to pay.

Insurance companies that may have some of the above discounts are:

Double check with every prospective company which discounts you may be entitled to. Some discounts might not apply in your area.

Advertising myths

Insurance providers like Progressive, Allstate and Geico consistently run ads on television and other media. They all have a common claim that you can save if you change your coverage to them. How can each company claim to save you money?

All the different companies are able to cherry pick for the driver they prefer to insure. An example of a desirable insured might be a mature driver, has no tickets, and drives newer vehicles. A customer getting a price quote that hits that “sweet spot” receives the best rates and as a result will probably save quite a bit of money when switching.

Drivers who don’t qualify for the requirements must pay a more expensive rate which usually ends up with business going elsewhere. The ad wording is “customers that switch” not “everyone that quotes” save that much. That’s the way insurance companies can confidently make the claims of big savings.

This illustrates why you need to compare many company’s rates. It’s just too difficult to predict which insurance companies will give you the biggest savings on Cadillac SRX insurance.

Tailor your coverage to you

When it comes to buying the best insurance coverage for your vehicles, there is no cookie cutter policy. Coverage needs to be tailored to your specific needs and your policy should reflect that. These are some specific questions can aid in determining if your situation might need an agent’s assistance.

  • Why does it cost so much to insure a teen driver?
  • How do I buy GAP insurance?
  • Can I rent a car in Mexico?
  • What are the best liability limits?
  • What is medical payments coverage?
  • If my 2006 Cadillac SRX is totaled, can I afford another vehicle?

If it’s difficult to answer those questions but one or more may apply to you, you may need to chat with a licensed agent. To find lower rates from a local agent, take a second and complete this form or you can also visit this page to select a carrier

Car insurance coverages for a 2006 Cadillac SRX

Knowing the specifics of a auto insurance policy can help you determine the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy. Listed below are typical coverages found on most auto insurance policies.

Comprehensive protection

This will pay to fix damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things like a broken windshield, falling objects, fire damage, a tree branch falling on your vehicle and damage from flooding. The maximum amount a auto insurance company will pay at claim time is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Medical expense coverage

Medical payments and Personal Injury Protection insurance provide coverage for immediate expenses like dental work, funeral costs, chiropractic care and hospital visits. They are utilized in addition to your health insurance policy or if you do not have health coverage. They cover all vehicle occupants in addition to any family member struck as a pedestrian. PIP is not universally available but it provides additional coverages not offered by medical payments coverage

Liability coverage

Liability coverage provides protection from damages or injuries you inflict on other’s property or people. It protects you against claims from other people. It does not cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 25/50/25 that means you have $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property. Alternatively, you may have a combined single limit or CSL which limits claims to one amount with no separate limits for injury or property damage.

Liability coverage pays for things such as loss of income, court costs, medical expenses, structural damage and repair bills for other people’s vehicles. The amount of liability coverage you purchase is up to you, but buy as much as you can afford.

Uninsured or underinsured coverage

Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they do not carry enough liability coverage. Covered losses include medical payments for you and your occupants as well as damage to your Cadillac SRX.

Because many people only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is a good idea. Most of the time the UM/UIM limits are set the same as your liablity limits.

Auto collision coverage

Collision coverage will pay to fix damage to your SRX resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims such as sustaining damage from a pot hole, hitting a parking meter, driving through your garage door and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are 8 years or older. Another option is to choose a higher deductible to bring the cost down.

Summing up your insurance coverage search

Lower-priced 2006 Cadillac SRX insurance can be found from both online companies and also from your neighborhood agents, so you should compare both to get a complete price analysis. Some insurance providers may not provide online price quotes and many times these small insurance companies only sell through independent insurance agents.

When you buy insurance online, it’s very important that you do not sacrifice coverage to reduce premiums. There have been many cases where an insured dropped comprehensive coverage or liability limits only to find out that the few dollars in savings costed them thousands. Your strategy should be to find the BEST coverage for the lowest price, not the least amount of coverage.

More articles