Are you tired of scraping nickels together each month for auto insurance? You are in the same boat as many other drivers. Having so many companies and agents to choose from, it can be challenging to find the most affordable company.
Auto insurance companies offer many types of discounts
Some companies don’t always list every possible discount in an easy-to-find place, so we took the time to find both well-publicized and the harder-to-find credits that may apply to you.
- Cautious Driver Discounts – Insureds who avoid accidents may receive a discount up to 45% for CTS-V insurance than drivers with accidents.
- Memberships – Affiliation with a qualifying organization could earn you a nice discount on your next renewal.
- Early Payment Discounts – If paying your policy premium upfront instead of making monthly payments you could save up to 5%.
- Bundle and Save – If you have multiple policies and place coverage with the same company you could get a discount of at least 10% off all policies.
- College Student – Kids who live away from home to go to college and do not have a car could get you a discount.
- Smart Student Discounts – Getting good grades can earn a discount of 20% or more. Many companies even apply the discount to college students until age 25.
Discounts lower rates, but some of the credits will not apply to the entire policy premium. The majority will only reduce individual premiums such as comprehensive or collision. So despite the fact that it appears all the discounts add up to a free policy, auto insurance companies aren’t that generous.
Larger auto insurance companies and their possible discounts can be found below.
- State Farm may have discounts that include student away at school, Drive Safe & Save, multiple autos, safe vehicle, driver’s education, and multiple policy.
- Farmers Insurance policyholders can earn discounts including homeowner, youthful driver, mature driver, business and professional, alternative fuel, multi-car, and distant student.
- Progressive includes discounts for continuous coverage, multi-policy, homeowner, online signing, good student, and multi-vehicle.
- GEICO has discounts for daytime running lights, federal employee, defensive driver, anti-lock brakes, good student, and military active duty.
- Auto-Owners Insurance offers discounts for anti-lock brakes, safe driver, group or association, good student, safe vehicle, and anti-theft.
- The Hartford has savings for good student, air bag, anti-theft, driver training, bundle, and vehicle fuel type.
- Farm Bureau offers discounts including multi-policy, driver training, 55 and retired, youthful driver, multi-vehicle, and safe driver.
- USAA offers premium reductions for new vehicle, safe driver, vehicle storage, military installation, defensive driver, family discount, and driver training.
Before buying, ask every insurance company which discounts can lower your rates. Discounts might not be available to policyholders in your area. If you would like to see a list of auto insurance companies that can offer you the previously mentioned discounts, click here to view.
Smart Consumers Know How to Get Auto Insurance More Affordably
Lots of things are used in the calculation when premium rates are determined. Some are pretty understandable like an MVR report, although some other factors are less apparent such as your credit history or your financial responsibility. 
The factors shown below are a few of the “ingredients” that factor into prices.
- Fewer miles means better costs – Driving a lot of miles annually the higher your rates will be. The majority of insurers price each vehicle’s coverage based on how the vehicle is used. Vehicles used primarily for pleasure use qualify for better rates than those used for commuting. Double check that your auto insurance declarations sheet is rated on the correct usage for each vehicle, because improper ratings can cost you money. Incorrect rating for your CTS-V is throwing money out the window.
- Consider raising physical damage deductibles – Comp and collision deductibles are how much you are willing to pay out-of-pocket before your auto insurance pays a claim. Physical damage insurance, also called comprehensive and collision insurance, insures against damage to your car. A few examples of covered claims are a windshield broken by a bird, vandalism, and damage from wind. The higher the amount you have to pay, the lower your rates will be for CTS-V insurance.
- Youthful driver insurance costs – More mature drivers tend to be more responsible, tend to cause fewer accidents , and usually have better credit.Drivers with little experience tend to get distracted easily when driving with friends so they pay higher auto insurance rates.
- Cars with good safety ratings cost less to insure – Vehicles that have high safety ratings tend to have lower insurance rates. Safer cars result in less severe injuries and better occupant protection translates into fewer and smaller insurance claims which can result in lower premiums.
Do I just need basic coverages?
When it comes to buying the right insurance coverage for your personal vehicles, there isn’t really a “perfect” insurance plan. Coverage needs to be tailored to your specific needs and your policy should reflect that. For example, these questions can help discover whether you might need professional guidance.
- Is a new car covered when I drive it off the dealer lot?
- Do I need medical payments coverage since I have good health insurance?
- Am I covered when driving in Canada or Mexico?
- Am I covered by my spouse’s policy after a separation?
- Does my personal auto insurance policy cover using my vehicle for business use?
- How can I get high-risk coverage after a DUI?
- Are rental cars covered under my policy?
- Does my insurance cover damage caused when ticketed for reckless driving?
- Will my vehicle be repaired with OEM or aftermarket parts?
- Why is insurance for a teen driver so high?
If you’re not sure about those questions but you think they might apply to your situation then you might want to talk to a licensed agent. If you don’t have a local agent, simply complete this short form or you can also visit this page to select a carrier It is quick, free and may give you better protection.
Smaller companies may have the best rates
Consumers get pounded daily by advertisements that claim the cheapest prices from companies such as 21st Century, Allstate and State Farm. They all convey the message that drivers will save a bundle if you change your policy.
Is it even possible that every company can offer drivers better rates? Here is how they do it.
Companies have specific criteria for the type of driver that earns them a profit. One example of a desirable insured might have to be between the ages of 30 and 45, insures multiple vehicles, and drives less than 5,000 miles a year. A driver who matches that profile will get the preferred premium rates and will also save when switching.
Potential insureds who don’t measure up to this stringent profile will have to pay higher premium rates which results in the customer buying from a different company. The wording the ads use say “customers who switch” not “everyone who quotes” can get the lowest rates when switching. That’s the way companies can truthfully make those statements. That is why you really need to compare price quotes frequently. It’s not possible to predict with any certainty which company will fit your personal profile best.
More quotes mean more savings
Cost effective Cadillac CTS-V insurance is definitely available from both online companies as well as from insurance agents, and you should be comparing both to have the best chance of lowering rates. There are still a few companies who do not offer the ability to get a quote online and many times these smaller companies prefer to sell through local independent agents.
As you shop your coverage around, do not skimp on coverage in order to save money. In too many instances, someone sacrificed physical damage coverage to discover at claim time they didn’t purchase enough coverage. Your aim should be to get the best coverage possible for the lowest cost, but do not sacrifice coverage to save money.
