Save Money on Jeep Compass Insurance in Tulsa

If saving money is your primary concern, then the best way to find affordable quotes for auto insurance rates in Tulsa is to compare quotes annually from insurance carriers in Oklahoma. You can compare rates by completing these steps.

The key thing to know about shopping around is to try to use the same amount of coverage on every price quote and and to compare as many different companies as possible. Doing this ensures a level playing field and plenty of rates choose from.

Insurance rates Jeep Compass in TulsaEveryone knows that car insurance companies don’t want you to look for cheaper rates. Insureds who compare rates once a year are highly likely to buy a different policy because of the good chance of finding better rates. A survey found that consumers who compared prices regularly saved approximately $3,500 over four years compared to those who never compared other company’s rates.

If saving the most money on car insurance is your objective, understanding how to get rate quotes and compare car insurance can make the process more efficient.

Components of Your Jeep Compass Insurance Rates

Consumers need to have an understanding of the rating factors that are used to determine your auto insurance rates. When you know what positively or negatively influences your rates, this empowers consumers to make smart changes that could result in much lower annual insurance costs. Multiple criteria are used in the calculation when you get a price on insurance. Some are obvious such as traffic violations, although others are not quite as obvious like where you live or your commute time.

The list below includes some of the most rate-impacting factors used by insurance companies to determine your rates.

Where you reside – Choosing to live in small towns and rural areas may provide you with better prices when shopping for auto insurance. Less people means a lower chance of having an accident and lower theft and vandalism rates. People who live in big cities have to deal with congested traffic and longer commute times. Higher commute times means higher likelihood of an accident.

More stress means more cost – Careers such as lawyers, airline pilots, and accountants generally have the highest average rates in part from intense work situations and lots of time spent away from family. Other professions such as actors, athletes and homemakers get better rates.

How’s your driving record? – A bad driving record influences premium rates substantially. Attentive drivers tend to pay less for car insurance as compared to those with violations. Having a single speeding ticket can increase rates twenty percent or more. Drivers who get license-revoking violations like DUI or willful reckless driving are required to file a proof of financial responsibility form (SR-22) with their state DMV in order to drive a vehicle legally.

The information below illustrates how speeding tickets and accident claims raise Jeep Compass premium costs for each age group. The rate quotes are based on a single female driver, full coverage, $500 deductibles, and no policy discounts are applied.

The more you drive the more you pay – The more you drive in a year’s time the more you will pay for auto insurance. A lot of companies price each vehicle’s coverage based on how the vehicle is used. Cars and trucks used primarily for pleasure use receive better premium rates than those that get driven frequently. Make sure your policy shows annual mileage, because improper ratings can cost you money. An improperly rated Compass may be costing you higher rates.

Teenage drivers pay high prices – Older people are viewed as being more responsible, tend to cause fewer accidents, and are safer drivers. Beginning drivers have been known to be inattentive and easily distracted when behind the wheel so auto insurance rates are higher.

The following data assumes a single driver, full coverage with $1000 deductibles, and no discounts or violations.

Poor credit decisions can cost you – Having a good credit history is a big factor in determining what you pay. Consumers who have high credit scores tend to be less risk to insure than drivers with poor credit. So if your credit is not that good, you could pay less to insure your Jeep Compass by improving your credit score.

Loss probability for a Jeep Compass – Companies analyze the history of losses as a way to help calculate a profitable premium rate. Models that historically have higher claim amounts or frequency will have increased rates. The table below shows the insurance loss data for Jeep Compass vehicles.

For each insurance policy coverage type, the statistical loss for all vehicles averaged together is a value of 100. Percentage numbers below 100 indicate better than average losses, while numbers above 100 indicate frequent claims or an increased likelihood of larger losses.

Car Insurance Loss Data for Jeep Compass Models
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Jeep Compass 4dr 2WD 87 135 58 128 124 142
Jeep Compass 4dr 4WD 76 114 63 99 107 106

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

Car insurance statistics for a Jeep Compass

The premium table below highlights different coverage costs for Jeep Compass models. Learning a little about how insurance quotes are established can help guide drivers when making decisions on which coverage to buy.

Jeep Compass Insurance Rates in Tulsa, OK
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Compass Sport 2WD $212 $380 $470 $28 $140 $1,230 $103
Compass Sport 4WD $242 $462 $470 $28 $140 $1,342 $112
Compass Limited 2WD $242 $462 $470 $28 $140 $1,342 $112
Compass Limited 4WD $242 $462 $470 $28 $140 $1,342 $112
Get Your Own Custom Quote Go

Table data represents married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Oklahoma minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, multi-vehicle, and homeowner. Prices do not factor in your specific Tulsa location which can increase or decrease premium rates noticeably.

Analysis of deductible levels

One of the most common car insurance questions is which comprehensive and collision deductibles to buy. The rates below highlight the cost difference when you select higher and lower physical damage coverage deductibles. The first rate table uses a $250 comprehensive and collision deductible and the second rate table uses a $500 deductible.

Jeep Compass insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Compass Sport 2WD $302 $480 $448 $26 $134 $1,415 $118
Compass Sport 4WD $346 $584 $448 $26 $134 $1,563 $130
Compass Limited 2WD $346 $584 $448 $26 $134 $1,563 $130
Compass Limited 4WD $346 $584 $448 $26 $134 $1,563 $130
Get Your Own Custom Quote Go

Jeep Compass insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Compass Sport 2WD $246 $388 $448 $26 $134 $1,242 $104
Compass Sport 4WD $282 $472 $448 $26 $134 $1,362 $114
Compass Limited 2WD $282 $472 $448 $26 $134 $1,362 $114
Compass Limited 4WD $282 $472 $448 $26 $134 $1,362 $114
Get Your Own Custom Quote Go

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Oklahoma minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Rates do not factor in specific Tulsa garaging location which can revise insurance rates considerably.

Using the premium rates above, we can conclude that using a $250 deductible costs approximately $15 more each month or $180 every year than requesting the higher $500 deductible. Because you would be required to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you usually have at least 17 months between claims, you would more than likely save some money if you choose a higher deductible.

The example below illustrates how your deductible choice and can impact Jeep Compass premium costs for different age categories. The premiums assume a single female driver, full physical damage coverage, and no additional discounts are factored in.

Do you need full coverage?

The example below shows the difference between Jeep Compass premium costs with full coverage and liability only. The information is based on no claims or violations, $250 deductibles, drivers are single, and no discounts are applied.

Deciding between full coverage and liability only

There is no written rule of when to stop paying for physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.

For example, let’s assume your Jeep Compass replacement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $7,000 after paying your policy deductible. If you are currently paying more than $700 annually for your policy with full coverage, then it might be time to buy liability only.

There are some scenarios where dropping physical damage coverage is not a good plan. If you still have a lienholder on your title, you have to keep full coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should not opt for liability only.

Car insurance discounts help lower rates for Jeep Compass insurance in Tulsa

Car insurance can cost a lot, but there’s a good chance there are discounts that could help you make your next renewal payment. Certain credits will be shown at the time of purchase, but once in a while a discount must be asked about before being credited.Cheaper car insurance with discounts

As is typical with insurance, most of the big mark downs will not be given to the entire cost. Most only apply to specific coverage prices like collision or personal injury protection. Even though it may seem like you would end up receiving a 100% discount, companies don’t profit that way.

The diagram below illustrates the comparison of Jeep Compass insurance costs with and without discounts applied. The costs are based on a male driver, a clean driving record, no claims, Oklahoma state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, homeowner, marriage, multi-policy, and safe-driver discounts applied.

Large car insurance companies and a partial list of their discounts are:

It’s a good idea to ask all companies you are considering how many discounts you can get. Some of the discounts discussed earlier may not apply to policyholders everywhere.

Oklahoma car insurance company ratings

Selecting the right car insurance provider is hard considering how many choices you have in Tulsa. The information displayed below can help you decide which companies to look at comparing rates with.

Top 10 Tulsa Car Insurance Companies Overall

  1. Travelers
  2. USAA
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Allstate
  7. State Farm
  8. The Hartford
  9. Safeco Insurance
  10. Progressive

More quotes mean more auto insurance savings

Consumers switch companies for any number of reasons including delays in responding to claim requests, lack of trust in their agent, not issuing a premium refund and even being labeled a high risk driver. It doesn’t matter why you want to switch choosing a new insurance company is less work than it seems.

When trying to cut insurance costs, don’t be tempted to reduce needed coverages to save money. In many instances, someone dropped comprehensive coverage or liability limits only to find out that their decision to reduce coverage ended up costing them more. The aim is to buy a smart amount of coverage at the best price.

Cheaper auto insurance in Tulsa can be bought online and from local insurance agents, so get free Tulsa auto insurance quotes from both of them to get a complete price analysis. Some insurance companies do not offer online rate quotes and many times these regional carriers only sell coverage through independent insurance agencies.

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