We don’t have to point out that fact that car insurance companies don’t want their policyholders to compare prices. Insureds who shop around for better prices are inclined to buy a new policy because there is a good chance of finding good coverage at a lower price. A recent survey revealed that drivers who regularly compared price quotes saved about $3,400 over four years compared to policyholders who don’t regularly compare prices.
If finding the cheapest price for Jaguar XK insurance is why you’re reading this, then understanding how to quote prices and compare insurance coverage can help simplify the task of finding more affordable coverage.
The preferred way to save on auto insurance rates in Tucson is to start doing an annual price comparison from insurers in Arizona.
- Step 1: Get an understanding of what coverages are included in your policy and the factors you can control to keep rates down. Many policy risk factors that cause rate increases like at-fault accidents, speeding tickets, and a substandard credit score can be rectified by making lifestyle changes or driving safer.
- Step 2: Request rate estimates 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 quote prices from multiple companies.
- Step 3: Compare the new rate quotes to your existing rates to see if a cheaper rate is available in Tucson. If you find a better price and switch companies, make sure there is no lapse in coverage.
- Step 4: Notify your current company of your intent to cancel the current policy. Submit payment along with a signed and completed policy application to your new insurance company. Immediately store the proof of insurance paperwork in your glove compartment.
A crucial key to this process is to make sure you enter identical limits and deductibles on each price quote and and to get rate quotes from as many carriers as you can. This helps ensure an accurate price comparison and a better comparison of the market.
If you already have coverage or just want cheaper coverage, you can learn to find the best rates without having to cut coverage. Comparison shopping for cheaper auto insurance policy in Tucson is simple if you know the tricks. You just need to use the tricks to shop for auto insurance online.
How do Car Insurance Companies Determine Jaguar XK Insurance Premiums?
Many different elements are taken into consideration when you get a price on insurance. Some factors are common sense like a motor vehicle report, although some other factors are less apparent such as whether you are married or your vehicle rating. Smart consumers have a good feel for the rating factors that help determine your policy premiums. If you understand what positively or negatively impacts your premiums, this empowers consumers to make smart changes that may result in lower auto insurance prices.
Cheaper premiums with safer cars – Cars with five star safety ratings can get you lower premiums. Highly rated vehicles reduce the chance of injuries and reduced instances of injuries means less money paid by your insurance company and more competitive rates for policyholders.
Certain vocations pay higher premiums – Jobs such as real estate brokers, police officers, and miners have higher rates than average because of intense work situations and lots of time spent away from family. On the flip side, jobs such as scientists, students and retirees pay the least.
More people means more accidents – Being located in less populated areas has definite advantages when talking about auto insurance. Fewer people means reduced accidents and a lower car theft rate. Urban drivers have to deal with congested traffic and longer commute times. More time on the road statistically corresponds to a higher accident and claim rate.
Too many policy claims and you’ll pay more – Companies in Arizona generally give better rates to people who file claims infrequently. If you are a frequent claim filer, you can pretty much guarantee much higher rates or policy non-renewal. Your car insurance is meant to be used in the event of major claims that would cause financial hardship.
Rates for males may be higher – Statistics show women are more cautious behind the wheel. That doesn’t necessarily mean that females are better at driving than males. Females and males cause auto accidents in similar numbers, but the men cause more damage and cost insurance companies more money. Not only that, but men also get cited for more serious violations such as driving while intoxicated (DWI) or driving recklessly.
The example below visualizes the comparison of Jaguar XK insurance premiums for male and female drivers. The premiums assume no violations or accidents, full physical damage coverage, $250 deductibles, single status, and no discounts are factored in.
Insurance is expensive for younger drivers – More mature drivers are shown to be more cautious, statistically cause fewer accidents, and usually have better credit. Teenage drivers tend to be careless and easily distracted with other occupants in the car and because of this, their auto insurance rates are much higher.
The following chart uses these assumptions: single driver, full coverage with $100 deductibles, and no discounts or violations.
Don’t cancel your policy without a new one in place – Driving with no insurance is against the law and auto insurance companies will penalize you for letting your coverage cancel without a new policy in place. Not only will rates go up, not being able to provide proof of insurance can result in a steep fine or even jail time. You may have to file a SR-22 with the Arizona motor vehicle department to get your license reinstated.
Jaguar XK historical loss data – Insurance companies study historical loss data as a tool for profitable underwriting. Vehicles that the data determines to have higher frequency or amount of claims will have increased rates. The information below illustrates the compiled insurance loss statistics for Jaguar XK vehicles.
For each coverage category, the statistical loss for all vehicles compiled together is considered to be 100. Numbers shown that are under 100 suggest losses that are better than average, while values that are 100 or greater indicate more frequent losses or statistically larger claims.
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Jaguar XK 2dr||167|
|Jaguar XK Convertible||119|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Rates and detailed analysis
The data table shown next highlights detailed analysis of insurance prices for Jaguar XK models. Learning as much as possible about how policy rates are determined is important for you to make informed decisions when comparing rate quotes.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|XK Portfolio 2-Dr Coupe||$182||$422||$240||$14||$72||$930||$78|
|XK 2-Dr Coupe||$182||$422||$240||$14||$72||$930||$78|
|XK Portfolio 2-Dr Convertible||$196||$386||$282||$16||$84||$964||$80|
|XK 2-Dr Convertible||$196||$386||$282||$16||$84||$964||$80|
|Get Your Own Custom Quote Go|
Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Arizona minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, multi-vehicle, and homeowner. Price information does not factor in specific garaging location which can revise coverage rates greatly.
Cost of full coverage
The illustration below compares Jaguar XK annual premium costs when comparing full coverage to state minimum liability only. The premiums are based on no claims or violations, $1,000 deductibles, drivers are not married, and no other discounts are factored in.
When to buy liability coverage only
There isn’t a steadfast formula to stop buying comp and collision coverage, but there is a general convention. If the annual cost of your full coverage insurance is about 10% or more of the settlement you would receive from your company, then it could be time to drop full coverage.
For example, let’s assume your Jaguar XK claim settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company will settle for is $6,000 after the policy deductible has been paid. If you are paying over $600 annually for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are some situations where buying only liability insurance is not financially feasible. If you still owe money on your vehicle, you have to maintain full coverage as part of the loan requirements. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not opt for liability only.
Cheaper Tucson car insurance rates with discounts
Car insurance is neither fun to buy or cheap, but there’s a good chance there are discounts to cut the cost considerably. A few discounts will be applied when you purchase, but some need to be manually applied before they will apply.
- Safety Restraint Discount – Drivers who require all occupants to wear their seat belts may be able to save a few bucks off the personal injury premium cost.
- Discount for Multiple Policies – If you can bundle your homeowners and auto insurance with one insurance company you could get a discount of 10% to 20% off each policy.
- Accident Waiver – Not really a discount, but some companies like Liberty Mutual and GEICO will forgive one accident before raising your premiums if your claims history is clear before the accident.
- Air Bags and Passive Restraints – Vehicles with factory air bags or automatic seat belts can receive discounts of 20 to 30 percent.
- Discounts for New Vehicles – Buying a new car model is cheaper because newer models are generally safer.
- Telematics Data Discounts – Insureds who allow companies to spy on driving patterns by using a small device installed in their vehicle such as In-Drive from State Farm or Allstate’s Drivewise system might see lower rates as long as the data is positive.
- Professional Organizations – Having an affiliation with a professional or civic organization could earn you a nice discount on your next car insurance statement.
- No Claims – Drivers who don’t have accidents are rewarded with significantly better rates on Tucson car insurance quote as opposed to drivers who are more careless.
A little disclaimer on discounts, some of the credits will not apply to your bottom line cost. Most cut the cost of specific coverages such as collision or personal injury protection. So even though you would think having all the discounts means you get insurance for free, that’s just not realistic.
The chart below illustrates the difference between Jaguar XK insurance rates with and without discounts applied to the policy premium. The price estimates are based on a female driver, no claims or violations, Arizona state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, safe-driver, multi-car, marriage, and multi-policy discounts applied.
To find insurers that offer many of these discounts in Tucson, follow this link.
Find cheap rates by being thorough
Consumers leave their current company for a number of reasons such as high rates after DUI convictions, not issuing a premium refund, delays in responding to claim requests and denial of a claim. Regardless of your reason, finding a new company is not as difficult as it may seem.
When buying insurance coverage, do not skimp on critical coverages to save a buck or two. In too many instances, someone dropped comprehensive coverage or liability limits only to regret that the savings was not a smart move. The proper strategy is to purchase a proper amount of coverage at the best price while not skimping on critical coverages.
Lower-priced Jaguar XK insurance in Tucson is available from both online companies and from local agencies, and you should compare price quotes from both in order to have the best chance of saving money. Some insurance providers may not offer price quotes online and usually these regional carriers provide coverage only through independent agencies.
To read more, link through to these articles:
- Information for Teen Drivers (GEICO)
- Who Has Cheap Auto Insurance Rates for a Chevrolet Traverse in Tucson? (FAQ)
- Who Has Affordable Auto Insurance for Homeowners in Tucson? (FAQ)
- Understanding your Policy (NAIC.org)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- Vehicle Size and Weight FAQ (iihs.org)
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)