Compare Cadillac SRX Insurance Rates in Aurora

Insurance quote for Cadillac SRX in AuroraA recent study showed that most insurance buyers kept their coverage with the same insurance company for more than four years, and 38% of drivers have never compared rates to find lower-cost insurance. With the average premium in Colorado being $1,800, drivers could save nearly 35% each year, but they don’t believe the big savings they would realize if they bought a different policy.

If you want to save money, the best way to get budget Cadillac SRX insurance is to make a habit of regularly comparing prices from insurers who provide auto insurance in Aurora. Rate comparisons can be done by following these steps.

First, take a little time to learn about car insurance and the things you can control to prevent expensive coverage. Many policy risk factors that cause high rates such as traffic violations, accidents, and a bad credit score can be eliminated by making lifestyle changes or driving safer. Keep reading for more ideas to prevent expensive rate increases and earn larger discounts.

Second, compare prices from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give prices from one company like Progressive and State Farm, while agents who are independent can quote rates for many different companies.

Third, compare the new rate quotes to the price on your current policy to see if a cheaper rate is available in Aurora. If you find a lower rate and make a switch, make sure there is no coverage gap between policies.

Fourth, provide written notification to your current company to cancel the current policy. Submit the completed application along with a down payment to the new insurer. Immediately upon receiving it, put the new proof of insurance certificate in a readily accessible location in your vehicle.

An important part of this process is that you use similar coverage information on every quote request and and to get prices from all possible companies. This enables a fair rate comparison and a complete price analysis.

Locating the best rates in Aurora can be much easier if you know how to start. Practically every vehicle owner who quotes auto insurance will most likely find a lower price. Nevertheless, Colorado car owners benefit from understanding how insurance companies charge you for coverage.

Analysis of Cadillac SRX rates

The rate table displayed below highlights different insurance policy prices for Cadillac SRX models. Having insight into how policy premiums are formulated can help drivers make smart choices when purchasing an insurance policy.

Cadillac SRX Insurance Rates in Aurora, CO
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $190 $340 $352 $20 $106 $1,008 $84
SRX Luxury 2WD $190 $390 $352 $20 $106 $1,058 $88
SRX Luxury AWD $190 $390 $352 $20 $106 $1,058 $88
SRX Performance 2WD $210 $390 $352 $20 $106 $1,078 $90
SRX Performance AWD $210 $390 $352 $20 $106 $1,078 $90
SRX Premium 2WD $210 $390 $352 $20 $106 $1,078 $90
SRX Premium AWD $210 $390 $352 $20 $106 $1,078 $90
Get Your Own Custom Quote Go

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Estimates do not factor in vehicle location which can modify coverage prices considerably.

Rate comparison for different deductibles

When shopping for car insurance, a common question is how high should the physical damage coverage deductibles be. The rates below lay out the rate difference when you buy lower versus higher physical damage coverage deductibles. The first table uses a $100 deductible for comp and collision and the second pricing table uses a $1,000 deductible.

Cadillac SRX insurance prices with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $342 $644 $352 $20 $106 $1,489 $124
SRX Luxury 2WD $342 $740 $352 $20 $106 $1,585 $132
SRX Luxury AWD $342 $740 $352 $20 $106 $1,585 $132
SRX Performance 2WD $380 $740 $352 $20 $106 $1,623 $135
SRX Performance AWD $380 $740 $352 $20 $106 $1,623 $135
SRX Premium 2WD $380 $740 $352 $20 $106 $1,623 $135
SRX Premium AWD $380 $740 $352 $20 $106 $1,623 $135
Get Your Own Custom Quote Go

Cadillac SRX insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $190 $340 $352 $20 $106 $1,008 $84
SRX Luxury 2WD $190 $390 $352 $20 $106 $1,058 $88
SRX Luxury AWD $190 $390 $352 $20 $106 $1,058 $88
SRX Performance 2WD $210 $390 $352 $20 $106 $1,078 $90
SRX Performance AWD $210 $390 $352 $20 $106 $1,078 $90
SRX Premium 2WD $210 $390 $352 $20 $106 $1,078 $90
SRX Premium AWD $210 $390 $352 $20 $106 $1,078 $90
Get Your Own Custom Quote Go

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Rates do not factor in the specific area where the vehicle is garaged which can lower or raise prices substantially.

Based on the data above, we can derive that using a $100 deductible would cost the average driver about $44 more each month or $528 every year than quoting the higher $1,000 deductible. Since the policyholder would be required to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you have at a minimum 20 months between claims, you would most likely save money by going with a higher deductible. Below is a better example of how you can do this calculation yourself.

Average monthly premium for $100 deductibles: $133
Average monthly premium for $1,000 deductibles (subtract): – $89
Monthly savings from raising deductible: $44
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $44
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 20 months

Impact of citations and accidents on insurance rates

The diagram below demonstrates how speeding tickets and accidents impact Cadillac SRX yearly insurance costs for different insured age categories. The premium estimates are based on a single female driver, full physical damage coverage, $1,000 deductibles, and no additional discounts are factored in.

Cadillac SRX liability rates compared to full coverage

The illustration below shows the comparison of Cadillac SRX auto insurance rates when comparing full coverage to state minimum liability only. The premium estimates are based on no violations or claims, $500 deductibles, drivers are single, and no additional discounts are factored in.

Should you buy full coverage or liability only?

There is no definitive guideline that is best for determining when to drop physical damage coverage, but there is a guideline you can use. If the annual cost of coverage is more than 10% of the settlement you would receive from your company, then you might want to think about dropping full coverage.

For example, let’s assume your Cadillac SRX settlement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $5,000 after the policy deductible has been paid. If you are paying more than $500 annually for your policy with full coverage, the it may be a good time to stop paying for full coverage.

There are a few situations where dropping physical damage coverage is not a good plan. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if you can’t afford to buy a different vehicle in case of an accident, you should not drop full coverage.

You Can Change Your Insurance Rates

A large part of saving on car insurance is knowing some of the factors that aid in calculating the rates you pay for car insurance. If you understand what positively or negatively impacts your premiums, this enables you to make decisions that may reward you with big savings. Many different elements are used when you quote your car insurance policy. Most are fairly basic such as your driving history, although some other factors are not quite as obvious like where you live or your commute time.

The factors shown below are some of the factors car insurance companies consider when setting your prices.

High insurance claims frequency drives up premiums – If you tend to file frequent claims, you can expect increased rates or even have your policy non-renewed. Auto insurance companies in Colorado generally give the lowest premiums to policyholders who do not file claims often. Your insurance policy is intended to be relied upon for claims that pose a financial burden.

Drive less and save – Driving a lot of miles every year the more it will cost to insure it. Most companies calculate rates based upon how the vehicle is primarily used. Vehicles that have low annual miles cost less to insure than those that get driven frequently. It’s a good idea to make sure your vehicle rating shows the correct usage. An incorrectly rated SRX is just wasting money.

High performance vehicles cost more to insure – The make and model of the car you need insurance for makes a substantial difference in your auto insurance rates. The cheapest rates tend to be for lower performance four cylinder passenger vehicles, but there are many factors that impact the final cost.

The data below uses these variables: single female driver age 50, full coverage with $1000 deductibles, and no discounts or violations. It shows Cadillac SRX policy rates compared to other vehicles that have a range of performance rating factors.

Cheaper prices using alarm systems – Driving a car with advanced anti-theft systems can save you a little every year. Theft deterrent systems like GM’s OnStar, tamper alarm systems and vehicle immobilizers help track and prevent vehicle theft.

Uninterrupted coverage saves money – Letting your insurance expire can be a sure-fire way to increase your car insurance rates. In addition to paying higher premiums, failure to provide proof of insurance could earn you a revoked license or a big fine.

Your employer is a factor – Occupational choices like real estate brokers, air traffic controllers, and stock brokers usually pay the highest rates in part from high stress and lengthy work days. On the flip side, jobs like actors, historians and homemakers pay lower than average rates.

Car and home together may be cheaper – Most larger car insurance companies afford discounts to customers that purchase more than one policy, otherwise known as a multi-policy discount. Even if you qualify for this discount already, drivers will still want to comparison shop to make sure you are getting the best deal. You may still save even more than the discount by buying from different companies

Cadillac SRX historical loss data – Insurance companies use past insurance losses to help determine the rate you pay. Models that have a higher amount or frequency of claims will have a higher cost to insure. The table below outlines the insurance loss data for Cadillac SRX vehicles.

For each insurance policy coverage type, the loss probability for all vehicles averaged together is represented as 100. Values under 100 mean the vehicle has better than average losses, while percentages above 100 indicate more frequent losses or statistically larger claims.

Cadillac SRX Insurance Claim Statistics
Vehicle 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

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Ratings for Aurora auto insurance companies

Choosing the right auto insurance provider can be challenging considering how many choices you have in Colorado. The ranking data listed below can help you analyze which providers to look at shopping prices with.

Top 10 Aurora Car Insurance Companies Overall

  1. USAA
  2. American Family
  3. State Farm
  4. The Hartford
  5. AAA Insurance
  6. GEICO
  7. The General
  8. Titan Insurance
  9. Progressive
  10. Allstate

Don’t give up on cheaper rates

Budget-friendly insurance in Aurora can be sourced from both online companies in addition to local insurance agencies, and you need to comparison shop both to get a complete price analysis. There are still a few companies who may not have the ability to get quotes online and many times these small insurance companies work with independent agents.

As you go through the steps to switch your coverage, don’t be tempted to reduce coverage to reduce premium. In many cases, consumers will sacrifice uninsured motorist or liability limits and learned later they didn’t purchase enough coverage. The ultimate goal is to purchase plenty of coverage at a price you can afford.

In this article, we covered a lot of information how to compare Cadillac SRX insurance car insurance rates in Aurora. The key thing to remember is the more companies you get premium rates for, the higher the chance of saving money. You may even be surprised to find that the most savings is with a smaller regional carrier. These smaller insurers often have lower premium rates on specific markets than their larger competitors like Progressive or GEICO.

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