Save on 2008 Cadillac CTS Insurance Rates

Looking for better insurance rates for your Cadillac CTS? Overpriced Cadillac CTS insurance can overdraw your savings account, especially in this economy. Doing a price comparison is a great way to tighten up your finances. You have so many insurance companies to choose from, and although it’s a good thing to have a selection, lots of choices makes it harder to adequately compare rates.

Discounts can save BIG

Car insurance is not cheap, buy you may qualify for discounts that many people don’t even know exist. Certain discounts will be applied when you purchase, but some must be requested specifically prior to receiving the credit. If you aren’t receiving every discount available, you’re paying more than you need to.

  • Government Employees – Being employed by or retired from a federal job can earn a discount up to 10% for CTS insurance with certain companies.
  • More Vehicles More Savings – Insuring multiple cars or trucks on the same car insurance policy qualifies for this discount.
  • Own a Home – Being a homeowner may earn you a small savings due to the fact that maintaining a home demonstrates responsibility.
  • Safety Course Discount – Completing a course in driver safety can save you 5% or more depending on where you live.
  • Good Student Discount – A discount for being a good student can be rewarded with saving of up to 25%. Earning this discount can benefit you up to age 25.
  • Payment Discounts – If paying your policy premium upfront instead of paying each month you could save 5% or more.
  • Auto/Life Discount – Select insurance companies reward you with lower rates if you buy auto and life insurance together.
  • Discount for New Cars – Buying coverage on a new vehicle can cost up to 25% less compared to insuring an older model.
  • Paperless Signup – A few companies may give you up to $50 for buying a policy and signing up on their website.

It’s important to note that some of the credits will not apply the the whole policy. Most only reduce specific coverage prices like comprehensive or collision. So despite the fact that it appears you would end up receiving a 100% discount, it doesn’t quite work that way. But all discounts will help reduce the cost of coverage.

To see a list of providers offering car insurance discounts, follow this link.

Factors determining your Cadillac CTS insurance premium

It’s important that you understand some of the elements that come into play when calculating the price you pay for insurance. When you know what positively or negatively controls the rates you pay enables informed choices that may reward you with big savings.

  • Higher deductibles cost less – Your deductibles define the amount you are willing to pay out-of-pocket if you file a covered claim. Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, covers damage that occurs to your car. Some examples of claims that would be covered are running into the backend of another car, damage from fire, and windstorm damage. The more expense the insured has to pay upfront, the less your insurance will be for CTS insurance.
  • Having a spouse can save you money – Having a wife or husband can get you a discount on your policy. It is viewed as being more mature and responsible and it’s proven that married drivers get in fewer accidents.
  • Too many insurance claims drive up costs – Auto insurance companies give lower rates to insureds who do not file claims often. If you file claims often, you can look forward to either higher rates or even cancellation. Car insurance is designed for major claims that would cause financial hardship.
  • Proper usage rating affects rates – The higher the mileage driven in a year the more you’ll pay to insure your vehicle. Almost all companies charge to insure your cars determined by how the vehicle is used. Cars left parked in the garage can get a lower rate than vehicles that are driven to work every day. Make sure your insurance declarations sheet properly reflects the correct usage for each vehicle, because it can save money. Incorrect usage on your CTS can cost quite a bit.
  • Your location affects your rates – Living in a rural area can be a good thing when buying insurance. Less people living in that area translates into fewer accidents and a lower car theft rate. Urban drivers tend to have much more traffic to deal with and a longer drive to work. Longer commute distances means higher likelihood of an accident.
  • Don’t skimp on liability – Liability insurance provides coverage when a jury decides you are liable for personal injury or accident damage. It will provide legal defense coverage which can cost thousands of dollars. Liability insurance is quite affordable compared to physical damage coverage, so buy as much as you can afford.

Will just any policy work for me?

When it comes to choosing proper insurance coverage, there isn’t really a one size fits all plan. Every insured’s situation is different so your insurance needs to address that. For instance, these questions may help you determine if your insurance needs might need professional guidance.

  • Am I covered if I hit my neighbor’s mailbox?
  • How do I insure my teen driver?
  • Does coverage extend to a rental car in a foreign country?
  • Is my custom paint covered by insurance?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • How high should deductibles be on a 2008 Cadillac CTS?
  • What if I total my 2008 Cadillac CTS and owe more than it’s worth?

If you don’t know the answers to these questions then you might want to talk to a licensed insurance agent. If you don’t have a local agent, simply complete this short form or you can go here for a list of companies in your area. It is quick, free and may give you better protection.

Save $388 a year. For real?

Consumers constantly see and hear ads for the lowest price auto insurance by Allstate and Progressive. They all make an identical promise of big savings if you change to their company.

How do they all make the same claim? It’s all in the numbers.

Insurance companies are able to cherry pick for the type of driver they prefer to insure. For instance, a driver they prefer could possibly be between the ages of 40 and 55, has no driving citations, and has great credit. Any driver who matches those parameters will qualify for the lowest rates and is almost guaranteed to cut their rates substantially.

Potential insureds who don’t qualify for this ideal profile will have to pay higher rates which usually ends up with the driver buying from a lower-cost company. The ad wording is “customers who switch” not “everybody who quotes” save that much. That’s why companies can make those claims.

Because of the profiling, you absolutely need to get quotes from several different companies. It’s not possible to predict which insurance companies will have the lowest Cadillac CTS insurance rates.

Car insurance coverage breakdown

Knowing the specifics of car insurance helps when choosing the best coverages for your vehicles. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording. Shown next are typical coverages found on the average car insurance policy.

Coverage for liability

Liability coverage provides protection from damage that occurs to people or other property in an accident. This coverage protects you against other people’s claims. Liability doesn’t cover your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 100/300/100 which means a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property. Occasionally you may see a combined single limit or CSL which provides one coverage limit and claims can be made without the split limit restrictions.

Liability can pay for things like court costs, legal defense fees and attorney fees. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as large an amount as possible.

Comprehensive coverage

This coverage covers damage that is not covered by collision coverage. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims like hitting a bird, fire damage and falling objects. The maximum amount your car insurance company will pay is the cash value of the vehicle, so if the vehicle’s value is low consider dropping full coverage.

Collision protection

This pays for damage to your CTS resulting from colliding with another car or object. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage pays for claims like driving through your garage door, hitting a mailbox, colliding with a tree and scraping a guard rail. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are older. Another option is to choose a higher deductible to bring the cost down.

Uninsured/Underinsured Motorist coverage

This protects you and your vehicle from other drivers when they do not carry enough liability coverage. Covered losses include medical payments for you and your occupants as well as damage to your Cadillac CTS.

Because many people have only the minimum liability required by law, their limits can quickly be used up. So UM/UIM coverage is a good idea. Frequently your uninsured/underinsured motorist coverages are set the same as your liablity limits.

Medical payments coverage and PIP

Medical payments and Personal Injury Protection insurance pay for expenses for X-ray expenses, ambulance fees, nursing services, EMT expenses and prosthetic devices. They can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. Coverage applies to not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. Personal Injury Protection is not an option in every state and may carry a deductible

More effort can pay off

We just showed you many ways to reduce 2008 Cadillac CTS insurance prices online. The key concept to understand is the more rate quotes you have, the better chance you’ll have of finding lower rates. You may even find the best price on insurance coverage is with some of the lesser-known companies. Some small companies may often insure only within specific states and give getter rates compared to the large companies like Progressive or GEICO.

Low-cost insurance is definitely available on the web and with local insurance agents, so you should be comparing quotes from both to have the best selection. There are still a few companies who do not offer you the ability to get quotes online and these small, regional companies work with independent agents.

When buying insurance coverage, it’s a bad idea to skimp on coverage in order to save money. There are too many instances where an insured cut full coverage to discover at claim time they didn’t have enough coverage. Your strategy should be to purchase plenty of coverage for the lowest price, not the least amount of coverage.

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