How to Save on Audi S5 Insurance in Jacksonville

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Insurance quote for Audi S5 in JacksonvilleIf saving money is your primary concern, then the best way to save money on auto insurance rates in Jacksonville is to compare prices once a year from different companies in Florida.

Step 1: Try to learn a little about how insurance works and the things you can control to prevent expensive coverage. Many risk factors that cause high rates such as at-fault accidents, speeding tickets, and a not-so-good credit rating can be remedied by paying attention to minor details. This article provides ideas to get better rates and get additional discounts that may have been overlooked.

Step 2: Obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give rate quotes from a single company like Progressive or State Farm, while agents who are independent can quote rates for many different companies. Select a company

Step 3: Compare the new quotes to your existing policy to see if you can save by switching companies. If you find a lower rate quote and decide to switch, make sure there is no coverage gap between policies.

Step 4: Notify your agent or company of your intention to cancel your current coverage. Submit a signed application and payment to the new company. Once coverage is bound, safely store the certificate of insurance in an easily accessible location in your vehicle.

An important part of this process is that you'll want to make sure you compare identical limits and deductibles on each quote request and and to analyze as many companies as you can. This provides the most accurate price comparison and a thorough price selection.

It's safe to conclude that auto insurance companies want to keep you from comparing prices. People who rate shop once a year will most likely switch to a new company because of the good chance of getting low-cost coverage. A survey found that consumers who shopped around annually saved approximately $3,400 over four years compared to drivers who don't regularly compare prices.

If finding the best price on Audi S5 insurance is your goal, then having some knowledge of how to compare car insurance can make it easier to find better rates.

Finding the cheapest insurance coverage in Jacksonville is really quite easy. If you have coverage now, you should be able to buy cheaper insurance using the concepts covered in this article. You only need to know how to buy insurance online.

The companies in the list below offer comparison quotes in Florida. If multiple companies are listed, we suggest you visit two to three different companies to get the cheapest price.

Auto insurance analysis for an Audi S5

The premium table displayed next outlines different coverage costs for Audi S5 models. Being aware of how auto insurance premiums are established is important to be able to make smart policy decisions.

Audi S5 Insurance Rates in Jacksonville, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S5 4.2 Quattro 2-Dr Coupe $330 $690 $430 $26 $128 $1,604 $134
S5 4.2 Quattro 2-Dr Coupe $330 $690 $430 $26 $128 $1,604 $134
S5 3.0 Quattro 2-Dr Convertible $330 $618 $430 $26 $128 $1,532 $128
S5 4.2 Quattro 2-Dr Coupe $330 $762 $430 $26 $128 $1,676 $140
S5 4.2 Quattro 2-Dr Coupe $330 $762 $430 $26 $128 $1,676 $140
S5 3.0 Quattro 2-Dr Convertible $362 $690 $430 $26 $128 $1,636 $136
Get Your Own Custom Quote Go

Premium data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Rate information does not factor in garaging location in Jacksonville which can impact rates significantly.

Can higher deductibles save money?

When buying auto insurance, a common question is how high should your deductibles be. The rates shown below may help to illustrate the premium difference when you buy lower versus higher insurance deductibles. The first price estimate table uses a $250 deductible for comprehensive and collision coverage and the second rate chart uses a $1,000 deductible.

Audi S5 insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S5 4.2 Quattro 2-Dr Coupe $446 $930 $418 $24 $124 $1,967 $164
S5 4.2 Quattro 2-Dr Coupe $446 $930 $418 $24 $124 $1,967 $164
S5 3.0 Quattro 2-Dr Convertible $446 $834 $418 $24 $124 $1,871 $156
S5 4.2 Quattro 2-Dr Coupe $446 $1028 $418 $24 $124 $2,065 $172
S5 4.2 Quattro 2-Dr Coupe $446 $1028 $418 $24 $124 $2,065 $172
S5 3.0 Quattro 2-Dr Convertible $488 $930 $418 $24 $124 $2,009 $167
Get Your Own Custom Quote Go
Audi S5 insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
S5 4.2 Quattro 2-Dr Coupe $276 $586 $418 $24 $124 $1,428 $119
S5 4.2 Quattro 2-Dr Coupe $276 $586 $418 $24 $124 $1,428 $119
S5 3.0 Quattro 2-Dr Convertible $276 $524 $418 $24 $124 $1,366 $114
S5 4.2 Quattro 2-Dr Coupe $276 $646 $418 $24 $124 $1,488 $124
S5 4.2 Quattro 2-Dr Coupe $276 $646 $418 $24 $124 $1,488 $124
S5 3.0 Quattro 2-Dr Convertible $302 $586 $418 $24 $124 $1,454 $121
Get Your Own Custom Quote Go

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Estimates do not factor in specific zip code location which can raise or lower coverage rates substantially.

Based on this data, we can arrive at the conclusion that using a $250 deductible costs an average of $46 more each month or $552 a year averaged for all S5 models than opting for the higher $1,000 deductible. Since the policyholder would be required to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you go at a minimum 16 months between claims, you would probably come out ahead going with the higher deductible.

The information below highlights how deductible selection and can raise or lower Audi S5 insurance costs for each age group. The data is based on a single male driver, full coverage, and no other discounts are factored in.

Impact of speeding/accidents on Jacksonville auto insurance rates

The chart below demonstrates how citations and at-fault collisions can influence Audi S5 insurance rates for each different age category. The data is based on a single male driver, comp and collision included, $500 deductibles, and no discounts are applied to the premium.

Do you need full coverage?

The illustration below compares Audi S5 insurance prices when comparing full coverage to state minimum liability only. The premium estimates are based on no violations or claims, $1,000 deductibles, drivers are single, and no other discounts are factored in.

Should you pay for full coverage?

There is no exact formula for dropping physical damage insurance, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than about 10% of the vehicle's replacement cost less your deductible, then it may be the right time to buy liability only.

For example, let's assume your Audi S5 replacement value is $8,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $7,000 after paying your deductible. If you are paying in excess of $700 a year for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.

There are some circumstances where only buying liability is not recommended. If you haven't paid off your loan, you are required to maintain full coverage as part of the loan conditions. Also, if you can't afford to buy a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.

Informed Consumers Know How to Quote Insurance Cheaper

Lots of things are taken into consideration when you get a price on insurance. Most are fairly basic like an MVR report, but some are more obscure like your vehicle usage or your commute time. An important part of buying insurance is that you know the different types of things that are used to determine your insurance rates. If you have some idea of what positively or negatively impacts your premiums, this allows you to make good choices that could help you find lower rates.

The factors shown below are some of the most rate-impacting factors used by your company to calculate your rates.

  • Costs for males may be higher - Over time, data shows that women are safer drivers than men. It does not mean men are WORSE drivers than women. They both tend to get into auto accidents in similar numbers, but the male of the species cause more damage and cost insurance companies more money. They also get cited for more serious violations like DUI and reckless driving. Teenage male drivers are most likely to cause an accident and thus pay the highest rates.

    The information below illustrates the comparison of Audi S5 annual premium costs for male and female drivers. The rate quotes are based on no driving violations, no at-fault accidents, comprehensive and collision coverage, $100 deductibles, single status, and no discounts are factored in.

  • Deter car thieves - Selecting a car model with an alarm system can help bring down rates. Theft deterrent systems such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help prevent car theft.
  • Only buy what you need - Policies have add-on coverages that can add up on your insurance policy. Coverages like rental car reimbursement, better glass coverage, and extra life insurance coverage are probably not needed. These may sound like a good investment when buying your policy, but your needs may have changed so eliminate them to save money.
  • Insurance rates in urban areas - Residing in areas with lower population is a good thing when shopping for auto insurance. Fewer drivers translates into fewer accident claims. Drivers in populated Florida areas tend to have more aggressive driving styles and more time behind the wheel. Higher commute times translates into higher accident risk.
  • Do you know you're credit history? - Credit score can be a huge factor in your rate calculation. If your credit history is low, you could potentially save money when insuring your Audi S5 by improving your credit score. People that have very good credit scores tend to file fewer claims and have better driving records as compared to drivers with lower ratings.
  • Save by driving less - The more you drive in a year's time the higher your rates will be. The majority of insurers price each vehicle's coverage based on their usage. Cars that are left in the garage receive lower rates than those used for commuting. It's a smart idea to ensure your insurance declarations sheet shows the proper vehicle usage. A policy that improperly rates your S5 may be costing you higher rates.
  • Loss probability for an Audi S5 - Companies use statistical claims data to help determine prices. Models that tend to have increased losses will cost more for specific coverages. The next table shows the historical insurance loss data for Audi S5 vehicles.

    For each policy coverage type, the statistical loss for all vehicles combined as an average is set at 100. Percentages below 100 imply a favorable loss record, while percentages above 100 indicate higher probability of having a loss or statistically larger losses.

    Audi S5 Insurance Loss Statistics
    Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Audi S5 2dr 4WD 197 85 161 68
    Audi S5 Convertible 4WD 162 62 124
    BETTER
    AVERAGE
    WORSE

    Empty fields indicate not enough data collected
    Statistics from IIHS.org for 2013-2015 Model Years

Why car insurance is not optional

Even though it's not necessarily cheap to insure an Audi in Jacksonville, insuring your vehicle is required by state law in Florida and it also provides benefits you may not be aware of.

  • The majority of states have compulsory liability insurance requirements which means state laws require a specific level of liability if you want to drive legally. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
  • If you bought your Audi S5 with a loan, almost all lenders will stipulate that you have physical damage coverage to guarantee their interest in the vehicle. If you let the policy lapse, the bank will be required to insure your Audi for a much higher rate and require you to reimburse them much more than you were paying before.
  • Car insurance protects not only your car but also your assets. It also can pay for medical expenses that are the result of an accident. Liability coverage will also pay to defend you in the event you are sued. If your Audi gets damaged, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage minus the deductible amount.

The benefits of having insurance outweigh the cost, especially for larger claims. In a recent study of 1,000 drivers, the average customer is overpaying over $800 each year so you should quote your policy with other companies at every renewal to save money.