2002 Cadillac Escalade Car Insurance Cost – 10 Ideas for Cheaper Prices

Nobody I know anticipates paying for auto insurance, especially when they know the cost is too high. Numerous insurance companies battle for your hard-earned dollar, and it can be difficult to compare rates to find the absolute cheapest price

It’s important to quote other rates periodically because auto insurance prices change frequently. Just because you had the best rates on Escalade coverage six months ago other companies may now be cheaper. Forget anything you know (or think you know) about auto insurance because it’s time to teach you one of the best ways to lower your annual insurance bill.

Finding auto insurance

Getting more affordable 2002 Cadillac Escalade auto insurance pricing is a fairly straight forward process. You just have to spend a few minutes on the computer to compare rate quotes to discover which company has affordable insurance coverage quotes. It is quite easy and can be accomplished by using one of the methods below.

  1. One of the simplest ways consumers can make multiple comparisons would be an industry-wide quote request form click here to open form in new window. This method eliminates the need for a different quote to each individual auto insurance company. One simple form gets rate comparisons from several companies.
  2. A different way to compare rate quotes requires visiting each company’s website and complete a new quote form. For instance, we’ll pretend you want to compare rates from Nationwide, GEICO and Liberty Mutual. To do that, you would have to visit each site and type in your information over and over, and that explains why we recommend the first method. To view a list of companies in your area, click here.

Compare rates however you want, just make darn sure you compare nearly identical quote information with every price quote. If you use mixed coverages you will not be able to get a fair rate comparison.

Insurance discounts help cut rates

Auto insurance companies don’t always advertise every discount they offer very well, so the below list has a few of the more well known and also the lesser-known ways to save on insurance.

  • Pay Upfront and Save – If you pay your entire premium ahead of time instead of paying each month you can avoid the installment charge.
  • ABS and Traction Control Discounts – Cars, trucks, and SUVs that have anti-lock braking systems are much safer to drive and the ABS can save up to 10%.
  • Government Employee Discount – Being employed by or retired from a federal job can save as much as 8% on Escalade coverage with some insurance companies.
  • Air Bags and Passive Restraints – Cars that have air bags or automatic seat belts can qualify for discounts as much as 30%.
  • Theft Prevention System – Vehicles with anti-theft systems help deter theft and that can save you a little bit as well.
  • Defensive Driving Course – Participating in a course in driver safety could earn you a small percentage discount and easily recoup the cost of the course.
  • Renewal Discounts – A few insurance companies allow discounts for signing up prior to your current policy expiration. It’s a savings of about 10%.
  • Discount for New Cars – Insuring a vehicle that is new can cost up to 25% less due to better safety requirements for newer models.
  • Home Ownership Discount – Being a homeowner can earn you a little savings due to the fact that maintaining a home demonstrates responsibility.
  • Fewer Miles Equal More Savings – Low mileage vehicles can earn better rates on cars that stay parked.

Discounts reduce rates, but you should keep in mind that most discount credits are not given the the whole policy. The majority will only reduce the price of certain insurance coverages like collision or personal injury protection. Just because you may think having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business.

A list of companies and a partial list of their discounts include:

  • The Hartford may include discounts for defensive driver, vehicle fuel type, anti-theft, driver training, bundle, air bag, and good student.
  • American Family offers discounts for accident-free, early bird, mySafetyValet, good student, TimeAway discount, good driver, and air bags.
  • Progressive offers discounts including online quote discount, homeowner, multi-policy, continuous coverage, online signing, good student, and multi-vehicle.
  • Travelers policyholders can earn discounts including hybrid/electric vehicle, new car, continuous insurance, driver training, multi-policy, and good student.
  • Farmers Insurance includes discounts for alternative fuel, good student, youthful driver, teen driver, multi-car, early shopping, and homeowner.
  • USAA has savings for military installation, defensive driver, driver training, good student, and multi-policy.
  • Liberty Mutual discounts include multi-car, newly retired, preferred payment discount, good student, and new graduate.

Before buying, ask each company or agent which discounts you may be entitled to. All car insurance discounts may not apply to policies in your area. If you would like to see a list of insurers that provide some of the discounts listed above, click this link.

Which is the best insurance?

When buying the right insurance coverage, there is no cookie cutter policy. Everyone’s needs are different so this has to be addressed. For instance, these questions can aid in determining whether your personal situation may require specific advice.

  • Do all my vehicles need collision coverage?
  • At what point should I drop full coverage?
  • What happens if I owe more than my 2002 Cadillac Escalade is worth?
  • Is my teenager covered with friends in the car?
  • Does my insurance cover my expensive audio equipment?
  • Is my Cadillac Escalade covered if I use it for business?
  • Does my insurance cover a custom paint job?
  • Am I better off with higher deductibles on my 2002 Cadillac Escalade?

If you don’t know the answers to these questions then you might want to talk to a licensed agent. To find an agent in your area, complete this form or you can also visit this page to select a carrier It’s fast, doesn’t cost anything and can provide invaluable advice.

Auto insurance myths debunked

Consumers can’t avoid all the ads for auto insurance savings from companies such as Allstate and Progressive. All the ads make an identical promise that drivers will save a bundle if you change your policy.

How is it possible that every company can charge less that you’re paying now?

Insurance companies have specific guidelines for the type of customer that earns them the highest profit. For instance, a desirable insured should be over the age of 35, has never had a claim, and drives less than 7,500 miles a year. A propective insured who fits that profile will probably get the lowest car insurance rates and therefore will save when they switch companies.

Potential customers who don’t meet this stringent profile may be required to pay more expensive rates which translates to business going elsewhere. Company advertisements say “people who switch” not “all people who quote” can get the lowest rates when switching. This is how insurance companies can confidently lure you into getting a quote.

Because each company has a different risk profile, drivers must compare many company’s premium rates. It’s not possible to predict with any certainty which company will have the lowest rate quotes.

The coverage is in the details

Knowing the specifics of your policy can be of help when determining the right coverages and the correct deductibles and limits. Insurance terms can be confusing and even agents have difficulty translating policy wording. Listed below are typical coverages available from insurance companies.

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include medical payments for you and your occupants and also any damage incurred to your Cadillac Escalade.

Because many people carry very low liability coverage limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea. Usually your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses like dental work, ambulance fees, funeral costs, X-ray expenses and hospital visits. They are used to cover expenses not covered by your health insurance program or if you do not have health coverage. It covers all vehicle occupants and also covers if you are hit as a while walking down the street. PIP coverage is not available in all states but can be used in place of medical payments coverage

Collision insurance

Collision insurance pays for damage to your Escalade caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.

Collision can pay for things like scraping a guard rail, colliding with another moving vehicle, driving through your garage door, crashing into a ditch and rolling your car. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. Drivers also have the option to bump up the deductible to save money on collision insurance.

Liability

Liability insurance protects you from damage or injury you incur to a person or their property. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 25/50/25 which means a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have a combined single limit or CSL which combines the three limits into one amount with no separate limits for injury or property damage.

Liability coverage pays for claims like emergency aid, structural damage, medical services, pain and suffering and repair bills for other people’s vehicles. How much liability should you purchase? That is up to you, but consider buying as much as you can afford.

Comprehensive insurance

This pays for damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers things such as theft, hitting a deer and hitting a bird. The maximum amount your insurance company will pay is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

You can do this!

As you shop your coverage around, make sure you don’t skimp on critical coverages to save a buck or two. There are too many instances where consumers will sacrifice liability limits or collision coverage only to regret that the few dollars in savings costed them thousands. Your aim should be to get the best coverage possible at the lowest possible cost while not skimping on critical coverages.

You just learned a lot of information how to save on 2002 Cadillac Escalade insurance. The key thing to remember is the more you quote insurance coverage, the more likely it is that you will get a better rate. Consumers may even find the lowest premium rates are with a smaller regional carrier. Smaller companies may often insure only within specific states and give getter rates than the large multi-state companies such as State Farm, GEICO and Nationwide.

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