The most effective way to find low-cost prices for auto insurance rates is to make a habit of regularly comparing prices from companies in Tulsa.
Step 1: Try to learn a little about policy coverages and the modifications you can make to drop your rates. Many risk factors that cause rate increases such as inattentive driving and your credit history can be rectified by being financially responsible and driving safely. Continue reading for more ideas to help prevent high rates and get additional discounts that may have been overlooked.
Step 2: Compare prices from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can provide rates from one company like GEICO or Allstate, while agents who are independent can quote rates from multiple companies.
Step 3: Compare the new rates to your existing rates to determine if you can save on CTS insurance. If you find better rates and switch companies, make sure there is no lapse between the expiration of your current policy and the new one.
One key aspect of rate comparisons is to try to use the same liability limits and deductibles on each quote and and to get price quotes from every insurance company. Doing this helps ensure an accurate price comparison and a complete selection of prices.
It goes without saying that auto insurance companies don’t want you to look at other companies. Insureds who compare other prices are highly likely to switch companies because there is a good probability of finding a policy with better rates. Remarkably, a study showed that people who routinely compared quotes saved about $865 annually compared to policyholders who never shopped for cheaper rates.
If finding the best rates on insurance in Tulsa is your ultimate goal, then having some insight into how to find companies and compare car insurance can make it easier to shop your coverage around.
Insurance quotes and discounts
Insurance can be prohibitively expensive, but you may qualify for discounts that may help make it more affordable. Certain discounts will be triggered automatically at the time you complete a quote, but once in a while a discount must be specially asked for prior to receiving the credit.
- Mature Driver Discount – Seniors may be able to get better insurance rates.
- New Car Discount – Adding a new car to your policy can save up to 30% since newer models have better safety ratings.
- Active Military Service – Having a family member in the military could mean lower premium rates.
- Passive Restraints – Vehicles equipped with air bags and/or automatic seat belt systems may qualify for discounts of 20 to 30 percent.
- Homeowners Savings – Being a homeowner can help you save on insurance due to the fact that maintaining a home requires a higher level of personal finance.
- Claim-Free Discount – Drivers who don’t have accidents can save substantially when compared with accident-prone drivers.
- Theft Deterrent – Vehicles equipped with tracking devices and advanced anti-theft systems help deter theft and can earn a small discount on your policy.
It’s important to understand that most discount credits are not given to the overall cost of the policy. A few only apply to the cost of specific coverages such as liability, collision or medical payments. Just because it seems like you would end up receiving a 100% discount, company stockholders wouldn’t be very happy. But all discounts will reduce the cost of your policy.
The illustration below illustrates the comparison of Cadillac CTS yearly insurance costs with and without policy discounts. The premium estimates are based on a male driver, no driving violations, no at-fault accidents, Oklahoma state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, safe-driver, multi-policy, homeowner, and claim-free discounts applied.
Popular insurance companies and some of the premium reductions they offer can be read below.
- GEICO has savings for multi-policy, anti-theft, emergency military deployment, federal employee, five-year accident-free, and good student.
- MetLife offers premium reductions for claim-free, defensive driver, good driver, accident-free, good student, and multi-policy.
- Progressive policyholders can earn discounts including online quote discount, multi-policy, online signing, homeowner, good student, and multi-vehicle.
- Travelers has discounts for new car, multi-policy, save driver, payment discounts, and driver training.
- SAFECO discounts include bundle discounts, teen safe driver, teen safety rewards, anti-theft, homeowner, accident prevention training, and safe driver.
- AAA offers discounts for multi-car, pay-in-full, anti-theft, multi-policy, and AAA membership discount.
When comparing rates, check with every insurance company how many discounts you can get. Some of the earlier mentioned discounts might not be available to policyholders in every state. To find insurance companies with significant discounts in Tulsa, click here to view.
All major car insurance companies give prices for coverage directly from their websites. Doing online price comparisons for Cadillac CTS insurance in Tulsa is quite simple as you just enter your coverage preferences into the quote form. Behind the scenes, their rating system pulls reports for credit and driving violations and returns pricing information based on these factors.
The ability to get online quotes for Cadillac CTS insurance in Tulsa makes it simple to compare prices and it’s necessary to perform this step if you want to get the best rate possible.
In order to find out if lower rates are available, compare rate quotes from the providers shown below. To compare your current rates, we recommend you copy the coverages exactly as shown on your declarations page. Using the same limits helps guarantee you will receive a fair comparison based on the exact same insurance coverage.
The providers in the list below are our best choices to provide comparison quotes in Oklahoma. If you want cheap auto insurance in Oklahoma, we recommend you get rate quotes from several of them in order to get a fair rate comparison.
Insurance coverage analysis
The coverage table below outlines detailed analysis of insurance prices for Cadillac CTS models. Having knowledge of how auto insurance prices are established can be of help when making smart choices when purchasing an auto insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|CTS Luxury AWD||$374||$926||$506||$30||$152||$1,988||$166|
|CTS Performance AWD||$374||$926||$506||$30||$152||$1,988||$166|
|CTS Premium AWD||$418||$926||$506||$30||$152||$2,032||$169|
|Get Your Own Custom Quote Go|
Table data represents single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Oklahoma minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, homeowner, and safe-driver. Premium costs do not factor in your specific Tulsa location which can impact auto insurance rates significantly.
The example below demonstrates how deductible levels and can affect Cadillac CTS insurance costs for different age groups of insureds. The premium estimates are based on a married male driver, comprehensive and collision coverage, and no policy discounts are applied.
Gender-based insurance rates by age
The example below visualizes the comparison of Cadillac CTS insurance costs for male and female drivers. The premium estimates are based on a clean driving record, no at-fault accidents, full coverage, $500 deductibles, single status, and no discounts are taken into consideration.
Price comparison of only insuring for liability
The example below illustrates the difference between Cadillac CTS insurance premiums with full coverage compared to only the Oklahoma minimum liability coverage. The data assumes no violations or claims, $250 deductibles, drivers are not married, and no policy discounts are applied.
When to drop comprehensive and collision
There is no clear-cut formula to drop comprehensive and collision coverage on your policy, but there is a broad guideline. If the annual cost of having full coverage is about 10% or more of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.
For example, let’s pretend your Cadillac CTS book value is $4,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would receive is $3,000 after paying the physical damage deductible. If premium cost is more than $300 annually for physical damage coverage, then it may be the right time to buy liability only.
There are some circumstances where dropping physical damage coverage is not financially feasible. If you still owe a portion of the original loan, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should not buy liability only.
How You Can Control Cadillac CTS Insurance Premiums
A large part of saving on auto insurance is knowing some of the elements that help calculate the level of your policy premiums. If you have some idea of what impacts premium levels, this helps enable you to make changes that may reward you with lower premium levels.
The following are just a few of the factors that factor into prices.
Lower stress equals lower premiums – Careers like military generals, architects, and accountants have higher premiums than the average policyholder in part from high stress and extremely grueling work hours. Other jobs such as farmers, students and homemakers have the lowest average rates.
Liability is peace of mind – A critical coverage on your policy, liability insurance will protect you when you are found liable for an accident. It provides legal defense to attempt to prove you were not liable. This coverage is very inexpensive compared to other policy coverages, so insureds should have plenty of protection for their assets.
Single drivers take more risk – Having a wife or husband may cut your premiums on your auto insurance policy. Having a spouse generally demonstrates drivers are more mature and responsible and it’s proven that being married results in fewer claims.
More people means more accidents – Residing in smaller towns and rural areas of the country may provide you with better prices when buying auto insurance. Fewer drivers means fewer accidents and a lower car theft rate. Residents of big cities regularly have traffic congestion and longer commute times. Spending more time driving statistically corresponds to a higher accident and claim rate.
Excellent credit equals lower prices – Having a bad credit history is a big factor in your rate calculation. If your credit rating leaves room for improvement, you may save money insuring your Cadillac CTS by repairing your credit. Insureds with very high credit ratings tend to file fewer claims than drivers who have lower credit ratings.
Youthful drivers pay more – Older, more experienced drivers are proven to be safer behind the wheel, tend to cause fewer accidents, and are generally more financially stable. Inexperience drivers are statistically shown to be more careless behind the wheel so auto insurance rates are higher.
The chart below assumes a single driver, full coverage with $1000 deductibles, and no discounts or violations.
Loss statistics for a Cadillac CTS – Insurers use past insurance losses to calculate a price that will offset any claims. Vehicles that historically have higher loss trends will have higher rates.
The table below outlines the loss history for Cadillac CTS vehicles. For each policy coverage type, the claim amount for all vehicles, without regard to make or model, is a value of 100. Percentages below 100 indicate a favorable loss history, while values over 100 indicate higher probability of having a loss or an increased likelihood of larger losses.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Cadillac CTS 4dr 2WD||123||72||118||73|
|Cadillac CTS 4dr 4WD||127||75||98||75|
|Cadillac CTS-V 2dr||174||74||135|
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Auto insurance is unique, just like you
When quoting and comparing coverage for your vehicles, there really is no cookie cutter policy. Coverage needs to be tailored to your specific needs and a cookie cutter policy won’t apply. For example, these questions might point out whether your personal situation would benefit from professional advice.
- Is extra glass coverage worth it?
- Does my insurance cover damage caused when ticketed for reckless driving?
- Does my Cadillac CTS qualify for pleasure use?
- Can my babysitter drive my car?
- When can my company non-renew my policy?
- At what point should I drop full coverage?
- Why am I required to get a high-risk car insurance policy?
If you don’t know the answers to these questions, you may need to chat with an insurance agent. If you want to speak to an agent in your area, simply complete this short form or go to this page to view a list of companies.
Get rate quotes but buy from a local Tulsa insurance agent
Some people would rather sit down with an agent and often times that is recommended A nice benefit of comparing car insurance online is you can get cheap car insurance quotes and still have an agent to talk to. Buying insurance from local insurance agencies is still important in Tulsa.
After completing this short form, the coverage information gets sent to companies in Tulsa who want to provide quotes for your car insurance coverage. It’s much easier because you don’t need to search for any insurance agencies due to the fact that quote results will go to your email. You can most likely find cheaper rates without a big time investment. If you have a need to compare rates from a specific company, just visit that company’s website and fill out their quote form.
Choosing an provider requires you to look at more than just the price. The questions below may impact your decision as well.
- Is vehicle mileage a factor when determining depreciation for repairs?
- Will the agent or a CSR service your policy?
- How many years have they been established?
- Do they offer rental car reimbursement?
- Do they offer claims assistance after hours?
- Are they paid to recommend certain coverages?
Three reasons to insure your Cadillac CTS
Despite the high cost, maintaining insurance may be required for several reasons.
- The majority of states have minimum mandated liability insurance limits which means the state requires a specific minimum amount of liability insurance in order to drive the car legally. In Oklahoma these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a lien on your Cadillac, almost every bank will make it mandatory that you have insurance to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the bank or lender will purchase a policy for your Cadillac at a much higher premium rate and require you to fork over for the much more expensive policy.
- Car insurance protects both your vehicle and your personal assets. It also can pay for medical expenses for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, also covers legal expenses if you are sued as the result of your driving. If you receive damage to your vehicle caused by a storm or accident, your car insurance policy will pay all costs to repair after the deductible has been paid.
The benefits of having car insurance more than offset the price you pay, especially for larger claims. On average, a vehicle owner in Tulsa is overpaying more than $750 every year so smart consumers compare quotes at every renewal to ensure rates are inline.
Cheap car insurance premiums are possible
You just learned quite a bit of information on how to compare Cadillac CTS insurance auto insurance rates in Tulsa. The key thing to remember is the more you quote Tulsa auto insurance, the higher the chance of saving money. You may even discover the most savings is with the least-expected company. Some small companies may often insure only within specific states and give better rates compared to the large companies like GEICO and State Farm.
When you buy Tulsa auto insurance online, never buy poor coverage just to save money. In many instances, an accident victim reduced full coverage only to regret they didn’t have enough coverage. Your aim should be to purchase a proper amount of coverage at a price you can afford and still be able to protect your assets.
Additional information is located at these links:
- Safety Features for Your New Car (State Farm)
- What Insurance is Cheapest with Multiple Speeding Tickets in Tulsa? (FAQ)
- Who Has Cheap Car Insurance Rates for a School Permit in Tulsa? (FAQ)
- Tools for Teen Driving Safety (State Farm)
- Vehicle Safety Ratings (iihs.org)
- Shopping for a Safe Car (Insurance Information Institute)
- Reducing Your Risks in a Car Crash Video (iihs.org)