Lower Your 2004 Cadillac XLR Insurance Rates

Want lower car insurance rates for your Cadillac XLR? Did a good deal turn out to be overpriced car insurance? Don’t sweat it because many consumers feel financially strained by their car insurance policy.

There is such a variety of insurers to pick from, and even though it’s nice to have a choice, having more car insurance companies makes it harder to find the lowest cost provider.

You should make it a habit to compare rates before your policy renews because car insurance prices are constantly changing. Even if you got the lowest price on XLR insurance two years ago there may be better deals available now. Block out anything you think you know about car insurance because you’re about to learn the right way to properly buy coverages and cut your premium.

Compare quotes for insurance coverage

When shopping for cheap insurance quotes, there are a couple of ways to get quotes from different insurance companies. The simplest method to find affordable 2004 Cadillac XLR insurance rates consists of obtaining rate quotes online. This is very easy and can be done by using one of the methods below.

  1. The single most time-saving way to find the lowest comparison rates is an all-inclusive rate comparison like this one (opens in new window). This quick form saves time by eliminating separate quote forms for every insurance coverage company. One form gets rate comparisons from multiple low-cost companies.
  2. A more time consuming way to analyze rates is to manually visit each company website to complete their respective quote request forms. For instance, let’s say you want to compare prices for Auto-Owners, GEICO and State Farm. You would be required to spend time on each company’s site to enter the same coverage data repeatedly, which is why first method is reommended. For a list of companies in your area, click here.
  3. Even if you have time, the least recommended way to compare price quotes is actually driving to different agent offices. Comparing rates online reduces the need to sit down with an agent unless you have a complicated situation and need the advice and guidance of an agent trained in personal lines coverage. Although, it is possible comparison shop online but buy the policy through an agent.

However you get your quotes, make sure you use nearly identical coverage limits for each comparison quote. If you have different liability limits it will be next to impossible to determine which rate is truly the best. Even a minor difference in insurance coverages or limits could mean much higher rates. It’s important to know that quoting more gives you a better chance of getting more affordable rates. Some companies don’t provide online price quotes, so you should also compare quotes on coverage from those companies, too.

Car insurance discounts are available to slash your rates

Car insurance is easily one of your largest bills, but discounts can save money and there are some available that you may not even be aware of. Larger premium reductions will be automatically applied when you complete an application, but a few must be asked about in order for you to get them.

  • Driver’s Ed – It’s a good idea to have your young drivers participate in a local driver’s education class in high school.
  • E-sign Discounts – Some of the larger companies will provide an incentive for signing up online.
  • Driver Safety – Completing a course that instructs on driving safety could possibly earn you a 5% discount depending on where you live.
  • Discount for Passive Restraints – Vehicles equipped with air bags can qualify for discounts of 20 to 30 percent.
  • Policy Bundle Discount – When you have multiple policies with the same insurance company you could earn a discount of up to 20% off your total premium.
  • ABS Brakes – Cars, trucks, and SUVs with ABS and/or traction control are much safer to drive and the ABS can save up to 10%.
  • Multiple Cars – Purchasing coverage when you have multiple cars or trucks on one policy can get a discount on all vehicles.
  • Payment Method – If you can afford to pay the entire bill instead of paying each month you could save 5% or more.
  • Telematics Discount – Insureds who allow their company to scrutinize driving habits by using a small device installed in their vehicle such as In-Drive from State Farm or Allstate’s Drivewise system could save a few bucks if their driving habits are good.

One thing to note about discounts is that some of the credits will not apply to your bottom line cost. A few only apply to the price of certain insurance coverages like comprehensive or collision. Just because it seems like all those discounts means the company will pay you, you won’t be that lucky.

A list of car insurance companies and their possible discounts can be found below.

  • Travelers may include discounts for hybrid/electric vehicle, student away at school, multi-car, driver training, early quote, and good student.
  • 21st Century includes discounts for 55 and older, automatic seat belts, early bird, good student, anti-lock brakes, teen driver, and theft prevention.
  • State Farm policyholders can earn discounts including safe vehicle, passive restraint, good driver, driver’s education, anti-theft, accident-free, and student away at school.
  • GEICO discounts include anti-lock brakes, membership and employees, military active duty, multi-policy, driver training, and good student.
  • SAFECO may have discounts that include bundle discounts, safe driver, anti-lock brakes, drive less, and teen safe driver.
  • AAA offers discounts for multi-car, good student, good driver, education and occupation, and pay-in-full.

If you want low cost insurance quotes, ask each company to apply every possible discount. Depending on the company, some discounts may not be offered in your area.

Everyone needs different insurance coverages

When buying the right insurance coverage, there isn’t really a perfect coverage plan. Coverage needs to be tailored to your specific needs and your policy should reflect that. For instance, these questions can aid in determining if you may require specific advice.

  • Do I need PIP (personal injury protection) coverage in my state?
  • How high should my uninsured/underinsured coverage be in my state?
  • Does my personal policy cover me when driving out-of-state?
  • Do I have newly-aquired coverage?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • Will I be non-renewed for getting a DUI or other conviction?
  • Will I lose any money if I cancel my policy before it expires?
  • How much can I save by bundling my policies?
  • What happens if I owe more than my 2004 Cadillac XLR is worth?

If you don’t know the answers to these questions but you know they apply to you, you may need to chat with an insurance agent. To find lower rates from a local agent, fill out this quick form or go to this page to view a list of companies.

Parts of your auto insurance policy

Knowing the specifics of a auto insurance policy aids in choosing the best coverages for your vehicles. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording. Shown next are the normal coverages available from auto insurance companies.

Coverage for liability

This coverage can cover damages or injuries you inflict on other’s property or people that is your fault. It protects YOU from claims by other people, and does not provide coverage for damage sustained by your vehicle in an accident.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000. Another option is one limit called combined single limit (CSL) which combines the three limits into one amount without having the split limit caps.

Liability coverage protects against things like repair costs for stationary objects, loss of income and medical services. The amount of liability coverage you purchase is up to you, but you should buy as large an amount as possible.

Comprehensive or Other Than Collision

Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for claims such as falling objects, a tree branch falling on your vehicle and damage from getting keyed. The most you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

UM/UIM Coverage

This provides protection when the “other guys” either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries as well as damage to your Cadillac XLR.

Since many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Frequently the UM/UIM limits do not exceed the liability coverage limits.

Collision coverage

This pays to fix your vehicle from damage resulting from colliding with another car or object. You have to pay a deductible and then insurance will cover the remainder.

Collision insurance covers claims such as damaging your car on a curb, colliding with a tree, crashing into a building, sideswiping another vehicle and driving through your garage door. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. You can also bump up the deductible to save money on collision insurance.

Medical costs insurance

Coverage for medical payments and/or PIP reimburse you for immediate expenses for rehabilitation expenses, pain medications, ambulance fees, surgery and nursing services. They can be utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover all vehicle occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage