How to Save on Cadillac SRX Insurance in Jacksonville

How many times have you told yourself it’s time to shop around for the cheapest Cadillac SRX insurance in Jacksonville? There isn’t a single person who likes having to buy auto insurance, particularly when the cost is too high.

Insurance quote for Cadillac SRX in JacksonvilleWe don’t have to tell you that insurance companies want to keep your business as long as possible. Insureds who shop around are likely to buy a new policy because of the good chance of finding a lower-priced policy. Surprisingly, a recent survey revealed that drivers who compared prices regularly saved approximately $3,500 over four years as compared to drivers who never shopped for cheaper rates.

If saving the most money on insurance is your goal, knowing how to get rate quotes and compare cheaper coverage can help you succeed in finding affordable rates. Drivers have many auto insurance companies to purchase coverage from, and although it’s nice to have a selection, more options can take longer to find a good deal for Cadillac SRX insurance in Jacksonville.

You need to take a look at other company’s rates before your policy renews because insurance prices change regularly. If you had the lowest price on Cadillac SRX insurance in Jacksonville a year ago there is a good chance you can find better rate quotes now. Forget all the misinformation about auto insurance because I’m going to teach you the only way to find lower rates on auto insurance.

Finding the lowest-priced policy in Jacksonville is not as time-consuming as you think. If you are already insured or just want cheaper coverage, follow these tips to reduce premiums without sacrificing coverage. You just have to know the most time-saving way to compare insurance rates over the internet.

How to buy Cadillac SRX insurance in Jacksonville, Florida

The companies in the list below can provide price comparisons in Florida. If multiple providers are shown, it’s a good idea that you visit two to three different companies to get the lowest price.

Rates and data analysis

The data table below covers detailed analysis of coverage prices for Cadillac SRX models. Having a good understanding how car insurance premiums are determined is important to be able to make smart choices when buying a car insurance policy.

Cadillac SRX Insurance Rates in Jacksonville, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $216 $454 $542 $32 $162 $1,406 $117
SRX Luxury 2WD $216 $524 $542 $32 $162 $1,476 $123
SRX Luxury AWD $216 $524 $542 $32 $162 $1,476 $123
SRX Performance 2WD $240 $524 $542 $32 $162 $1,500 $125
SRX Performance AWD $240 $524 $542 $32 $162 $1,500 $125
SRX Premium 2WD $240 $524 $542 $32 $162 $1,500 $125
SRX Premium AWD $240 $524 $542 $32 $162 $1,500 $125
Get Your Own Custom Quote Go

Table data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Information does not factor in garaging location in Jacksonville which can decrease or increase insurance rates significantly.

How high should deductibles be?

The hardest decision when buying coverage is how high or low should comp and collision deductibles be. The following insurance rates lay out the differences in price when you choose different physical damage coverage deductibles. The first rate quote example uses a $250 deductible and the second data table uses a $1,000 deductible.

Cadillac SRX insurance premium estimates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $364 $640 $418 $24 $124 $1,595 $133
SRX Luxury 2WD $364 $736 $418 $24 $124 $1,691 $141
SRX Luxury AWD $364 $736 $418 $24 $124 $1,691 $141
SRX Performance 2WD $406 $736 $418 $24 $124 $1,733 $144
SRX Performance AWD $406 $736 $418 $24 $124 $1,733 $144
SRX Premium 2WD $406 $736 $418 $24 $124 $1,733 $144
SRX Premium AWD $406 $736 $418 $24 $124 $1,733 $144
Get Your Own Custom Quote Go

Cadillac SRX insurance premium estimates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $224 $402 $418 $24 $124 $1,192 $99
SRX Luxury 2WD $224 $464 $418 $24 $124 $1,254 $105
SRX Luxury AWD $224 $464 $418 $24 $124 $1,254 $105
SRX Performance 2WD $250 $464 $418 $24 $124 $1,280 $107
SRX Performance AWD $250 $464 $418 $24 $124 $1,280 $107
SRX Premium 2WD $250 $464 $418 $24 $124 $1,280 $107
SRX Premium AWD $250 $464 $418 $24 $124 $1,280 $107
Get Your Own Custom Quote Go

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, homeowner, and multi-vehicle. Table data does not factor in Jacksonville location which can lower or raise premium rates substantially.

Based on the above data, using a $250 deductible costs about $37 more each month or $444 every year than requesting the higher $1,000 deductible. Due to the fact that you would have to pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you have at least 20 months between claim filings, you would probably be better off if you choose a higher deductible.

The example below illustrates how your deductible choice and can raise or lower Cadillac SRX insurance premiums for each age group. The costs are based on a married male driver, full coverage, and no policy discounts are applied.

Full coverage rates compared to liability-only

The illustration below visualizes the comparison of Cadillac SRX car insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Florida. The premium estimates are based on no claims, a clean driving record, $250 deductibles, drivers are single, and no discounts are applied to the premium.

Are you wasting money on full coverage?

There is no written rule that is best for determining when to drop full coverage, but there is a guideline you can use. If the annual cost of having full coverage is 10% or more of the vehicle’s replacement cost less your deductible, then it might be time to consider dropping full coverage.

For example, let’s assume your Cadillac SRX replacement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $3,000 after you pay the deductible. If you are paying more than $300 a year for your policy with full coverage, then you might want to consider buying only liability coverage.

There are some conditions where dropping physical damage coverage is not in your best interest. If you still have a lienholder on your title, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should not remove full coverage.

Three good reasons to insure your Cadillac vehicle

Despite the potentially high cost of Cadillac SRX insurance, insuring your vehicle is required for several reasons.

First, the majority of states have minimum mandated liability insurance limits which means you are required to buy a minimum amount of liability coverage in order to drive the car 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.

Second, if your vehicle has a loan, more than likely the lender will have a requirement that you buy insurance to guarantee their interest in the vehicle. If you let the policy lapse, the bank or lender will purchase a policy for your Cadillac at a more expensive rate and force you to pay a much higher amount than you were paying before.

Third, auto insurance preserves your Cadillac SRX and your assets. It will also cover medical transport and hospital expenses incurred in an accident. Liability insurance will also pay to defend you if you cause an accident and are sued. If your vehicle suffers damage from an accident or hail, your auto insurance policy will pay to restore your vehicle to like-new condition.

The benefits of buying auto insurance more than cancel out the cost, especially with large liability claims. On average, a vehicle owner in Jacksonville overpays more than $820 a year so you should quote and compare rates at every policy renewal to ensure rates are competitive.

How to Lower Your Insurance Costs

Many factors are considered when pricing auto insurance. Some are pretty understandable such as your driving history, but other factors are not as apparent like your continuous coverage or your financial responsibility. It’s important that you understand some of the elements that are used to determine your policy premiums. If you understand what controls the rates you pay, this enables you to make decisions that may result in big savings.

The items below are most of the major factors car insurance companies consider when setting your prices.

Tough vocation may mean higher premiums – Occupations like doctors, police officers, and financial analysts have higher rates than average due to intense work requirements and lots of time spent at work. Other professions such as actors, historians and performers have lower than average premiums.

You might pay higher rates if you are single – Having a spouse may earn you lower rates on your car insurance bill. Having a significant other may mean you are more mature than a single person it has been statistically shown that married drivers tend to file fewer claims.

Older drivers are lower risk – Teenage drivers in Florida have been known to be more careless with other occupants in the car so car insurance rates are higher. More experienced drivers are more cautious drivers, tend to file fewer claims, and usually have better credit.

The chart below uses these assumptions: single driver, full coverage with $100 deductibles, and no discounts or violations.

A good credit rating can save money – Having a bad credit score can be an important factor in determining what you pay. Drivers who have excellent credit scores tend to file fewer claims and have better driving records than drivers who have lower credit scores. Therefore, if your credit can use some improvement, you could save money insuring your Cadillac SRX by improving your credit score.

Your address can affect prices – Residing in less populated areas of the country is a good thing when talking about car insurance. Less people living in that area translates into fewer accident claims in addition to fewer liability claims. Urban drivers have to deal with more aggressive driving styles and longer commute times. The longer drive time means more chance of being in an accident.

Prevent your car from being stolen – Buying a car with advanced anti-theft systems can earn a premium discount. Theft prevention devices such as GM’s OnStar, tamper alarm systems and vehicle immobilizers can help prevent auto theft and help lower rates.

Insurance loss statistics a Cadillac SRX – Companies include the past claim history for a vehicle when setting rates for each model. Vehicles that have increased losses will have higher rates.

The information below illustrates the insurance loss data used by companies for Cadillac SRX vehicles. For each policy coverage, the claim amount for all vehicles, without regard to make or model, is a value of 100. Numbers under 100 suggest a better than average loss history, while numbers above 100 point to more claims or a tendency for losses to be larger than average.

Car Insurance Loss Data for Cadillac SRX Models
Specific Cadillac Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Cadillac SRX 4dr 2WD 103 101 84 80 82 91
Cadillac SRX 4dr 4WD 109 106 103 78 75 83

Data Source: (Insurance Institute for Highway Safety) for 2013-2015 Model Years

You can lower your insurance rates

As you quote Jacksonville car insurance, do not buy poor coverage just to save money. In many cases, someone dropped uninsured motorist or liability limits and learned later they didn’t have enough coverage. The goal is to buy enough coverage at the best possible price, not the least amount of coverage.

We just presented a lot of techniques to compare Cadillac SRX insurance premium rates in Jacksonville. It’s most important to understand that the more rate quotes you have, the higher your chance of finding cheaper Jacksonville car insurance quotes. You may even find the lowest premium rates come from an unexpected company. Some small companies often have lower prices on specific markets as compared to the big name companies such as State Farm and Allstate.

Steps to buying lower priced Cadillac SRX insurance in Jacksonville

If saving the most money is your goal, then the best way to find affordable Cadillac SRX insurance is to compare quotes annually from insurers who can sell car insurance in Jacksonville.

  1. Try to comprehend auto insurance and the measures you can control to drop your rates. Many risk factors that drive up the price such as accidents, traffic violations, and a negative credit history can be improved by paying attention to minor details.
  2. Compare rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only quote rates from a single company like GEICO and State Farm, while agents who are independent can provide prices for a wide range of insurance providers. Compare rates now
  3. Compare the new quotes to your current policy to determine if switching companies saves money. If you find better rates and buy the policy, ensure coverage does not lapse between policies.
  4. Tell your current agent or company to cancel your current coverage. Submit payment along with a signed and completed policy application for the new policy. Once received, keep the new proof of insurance paperwork in an easily accessible location.

One bit of advice is to try to use similar coverage information on each price quote and and to get prices from as many auto insurance providers as possible. Doing this helps ensure the most accurate price comparison and the best price quote selection.

Much more information about insurance in Florida can be found below: