Save Money on Cadillac SRX Insurance in Orlando

Discount Cadillac SRX insuranceIt takes a little time, but the best way to get low-cost Cadillac SRX insurance is to start doing an annual price comparison from insurers who sell auto insurance in Orlando.

  1. Take a few minutes and learn about car insurance and the changes you can make to keep rates in check. Many rating factors that result in higher prices like accidents, careless driving, and a not-so-good credit rating can be rectified by making small lifestyle or driving habit changes. Keep reading for more details to get better rates and find discounts that may have been missed.
  2. Request price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can give quotes from a single company like GEICO or Allstate, while independent agents can give you price quotes for many different companies.
  3. Compare the price quotes to your current policy to see if cheaper SRX coverage is available in Orlando. If you find better rates and switch companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
  4. Notify your agent or company to cancel your current auto insurance policy and submit the signed application along with the required initial payment to your new carrier. Immediately place the new certificate of insurance in your glove compartment.

An important note is to make sure you enter identical coverage information on each price quote and and to get prices from as many companies as possible. Doing this helps ensure an accurate price comparison and the best price selection.

It’s a fact that car insurance companies don’t want customers comparing rates. Insureds who shop rates annually will most likely buy a different policy because of the high probability of finding a more affordable policy. A study showed that consumers who regularly compared rates saved on average $3,400 over four years compared to policyholders who never shopped around for cheaper prices.

If finding budget-friendly auto insurance in Orlando is your ultimate goal, then having some knowledge of how to get price quotes and compare insurance rates can save money and time.

Locating the best insurance company for you in Orlando seems hard but is not really that difficult. Nearly each driver who requires lower cost car insurance will find better rates. Although Florida drivers must understand the way insurance companies calculate their prices and apply this information to your search.

Coverage statistics and figures

The table below highlights a range of insurance rates for Cadillac SRX models. Having knowledge of how auto insurance policy rates are determined is important for drivers to make smart choices when buying a policy.

Cadillac SRX Insurance Rates in Orlando, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $316 $650 $400 $24 $120 $1,510 $126
SRX Luxury 2WD $316 $748 $400 $24 $120 $1,608 $134
SRX Luxury AWD $316 $748 $400 $24 $120 $1,608 $134
SRX Performance 2WD $352 $748 $400 $24 $120 $1,644 $137
SRX Performance AWD $352 $748 $400 $24 $120 $1,644 $137
SRX Premium 2WD $352 $748 $400 $24 $120 $1,644 $137
SRX Premium AWD $352 $748 $400 $24 $120 $1,644 $137
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Premium data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Prices do not factor in specific zip code location which can revise rates greatly.

Deductible comparison

One of the most common insurance questions is what deductibles to buy. The comparison tables below may help to conceptualize how much more you’ll pay when you select higher and lower physical damage deductibles. The first pricing table uses a $100 deductible for physical damage 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 $406 $764 $418 $24 $124 $1,761 $147
SRX Luxury 2WD $406 $880 $418 $24 $124 $1,877 $156
SRX Luxury AWD $406 $880 $418 $24 $124 $1,877 $156
SRX Performance 2WD $452 $880 $418 $24 $124 $1,923 $160
SRX Performance AWD $452 $880 $418 $24 $124 $1,923 $160
SRX Premium 2WD $452 $880 $418 $24 $124 $1,923 $160
SRX Premium AWD $452 $880 $418 $24 $124 $1,923 $160
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Cadillac SRX insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $224 $402 $418 $24 $124 $1,192 $99
SRX Luxury 2WD $224 $464 $418 $24 $124 $1,254 $105
SRX Luxury AWD $224 $464 $418 $24 $124 $1,254 $105
SRX Performance 2WD $250 $464 $418 $24 $124 $1,280 $107
SRX Performance AWD $250 $464 $418 $24 $124 $1,280 $107
SRX Premium 2WD $250 $464 $418 $24 $124 $1,280 $107
SRX Premium AWD $250 $464 $418 $24 $124 $1,280 $107
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Price estimates do not factor in specific location which can change price quotes greatly.

Based on the above data, using a $100 deductible will cost you about $52 more each month or $624 a year averaged for all SRX models than selecting the higher $1,000 deductible. Due to the fact that you would have to pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to go at least 17 months between claim filings, you would probably come out ahead if you choose a higher deductible.

Cadillac SRX insurance rates: Men versus women

The chart below shows the difference between Cadillac SRX annual premium costs for male and female drivers. The premiums assume no violations or accidents, full physical damage coverage, $1,000 deductibles, drivers are not married, and no additional discounts are factored in.

Cadillac SRX full coverage rates compared to liability only

The illustration below illustrates the difference between Cadillac SRX insurance prices with full coverage and liability only. The data assumes no claims or violations, $1,000 deductibles, single marital status, and no policy discounts are applied.

Are you wasting money paying for full coverage?

There isn’t a steadfast formula to exclude physical damage coverage on your policy, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then you might want to think about dropping full coverage.

For example, let’s assume your Cadillac SRX settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $6,000 after paying the physical damage deductible. If premium cost is more than $600 annually for physical damage coverage, the it may be a good time to stop paying for full coverage.

There are some cases where removing full coverage is not a good plan. If you still have a lienholder on your title, you have to keep full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should keep full coverage in place.

Learn How to Lower Your Insurance Premiums

An important part of buying insurance is that you know some of the elements that help determine your auto insurance rates. If you have a feel for what controls the rates you pay, this allows you to make educated decisions that could help you find lower auto insurance prices.

Allowing your auto insurance policy to lapse raises rates – Driving your car without having proper coverage is illegal and you may have a hard time finding new coverage because you let your coverage cancel without a new policy in place. Not only will rates go up, not being able to provide proof of insurance will get you a hefty fine and possibly a revoked license. Then you may be required to provide proof of insurance in the form of an SR-22 filing with the Florida department of motor vehicles.

Save miles and save money – The more you drive your Cadillac annually the higher the price you pay to insure it. Many insurance companies charge to insure your cars based on their usage. Cars left parked in the garage qualify for better rates than those that get driven frequently. Double check that your auto insurance policy correctly shows the correct driver usage, because it can save money. Having the wrong rating on your SRX is just wasting money.

GPS tracking and theft deterrents systems cut prices – Choosing to buy a car with an alarm system can help lower your rates. Systems that thwart thieves such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system help track and prevent your car from being stolen.

Improve your credit history – Having a bad credit score can be an important factor in determining what you pay for auto insurance. People with high credit scores tend to be more responsible as compared to drivers with lower credit scores. Therefore, if your credit is lower than you’d like, you could be paying less to insure your Cadillac SRX if you improve your credit rating.

Where you reside – Living in small towns and rural areas has it’s advantages when it comes to auto insurance. Fewer drivers and short commutes translates into fewer accidents and also fewer theft and vandalism claims. Drivers who live in large Florida cities regularly have more auto accidents and longer commute times. More time behind the wheel means more chances of being involved in an auto accident.

Insurance loss statistics a Cadillac SRX – Insurers factor in historical loss data to help calculate a profitable premium price. Models that the data shows to have higher loss trends will have a higher premium rate.

The table below shows the collected loss data for Cadillac SRX vehicles. For each coverage type, the claim probability for all vehicles, regardless of manufacturer or model, equals 100. Percentage values below 100 suggest losses that are better than average, while values over 100 indicate higher probability of having a loss or statistically larger losses.

Cadillac SRX Insurance Claim Statistics
Vehicle Make and 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

Persistence is the key to affordable rates

While you’re price shopping online, don’t be tempted to skimp on coverage in order to save money. There have been many cases where an insured dropped comprehensive coverage or liability limits and found out when filing a claim that saving that couple of dollars actually costed them tens of thousands. The aim is to purchase a proper amount of coverage at the lowest possible cost while still protecting your assets.

Cost effective Cadillac SRX insurance is attainable on the web and with local Orlando insurance agents, and you should compare price quotes from both in order to have the best price selection to choose from. Some insurance providers may not have price quotes online and usually these regional insurance providers provide coverage only through independent agencies.

You just read a lot of ways to find affordable Cadillac SRX insurance in Orlando. The most important thing to understand is the more rate quotes you have, the better your chances of lowering your rates. You may even find the lowest prices come from some of the smallest insurance companies.

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