How to Save on Audi A5 Insurance in Oklahoma City

Perplexed by the number of auto insurance companies that you can choose from? Many other people are as well. There are so many choices that it can really be a difficult situation to find the lowest price for Audi A5 insurance in Oklahoma City. If you live there, you know that Oklahoma City is an excellent city in which to live, but expensive auto insurance premiums makes it impossible to pay other bills every month.

A recent auto insurance study discovered that almost 70% of insureds kept their policy with the same company for over three years, and approximately 40% of consumers have never even compared rates from other companies. Oklahoma City drivers could cut their rates by $600 a year by just comparing rate quotes, but they just don’t want to find affordable auto insurance rates.

It is always a good idea to do price comparisons occasionally because insurance prices are usually higher with each renewal. Just because you found the lowest price on Audi A5 insurance in Oklahoma City at your last renewal the chances are good that you can find a lower rate quote today. Forget anything you know (or think you know) about auto insurance because I’m going to let you in on the secrets to the proper way to find great coverage at a great price.

When price shopping your coverage, having more price comparisons provides better odds of finding lower pricing.

The providers in the list below are ready to provide free rate quotes in Oklahoma City, OK. If multiple companies are shown, we recommend you visit two to three different companies to find the lowest car insurance rates.

Don’t overlook these Audi A5 insurance discounts

Properly insuring your vehicles can get expensive, but you may qualify for discounts to cut the cost considerably. Larger premium reductions will be automatically applied when you complete an application, but once in a while a discount must be requested specifically before you get the savings.

• Accident Free – Insureds with no claims or accidents have much lower rates as opposed to drivers who are more careless.
• Discounts for Federal Employees – Having worked for a branch of the government can earn a discount up to 10% with certain companies.
• Sign Online – A few larger online companies will give a small break for signing up on their website.
• Home Ownership Discount – Owning a home in Oklahoma City may earn you a small savings because owning a home is proof of financial responsibility.
• Accident Forgiveness Coverage – Not necessarily a discount, but a few companies such as State Farm, Progressive and GEICO will let one accident slide without the usual rate increase so long as you are claim-free for a particular time prior to the accident.
• Early Payment Discounts – If you pay your bill all at once instead of monthly or quarterly installments you can avoid the installment charge.
• Switch and Save Discount – Some insurance companies give discounts for buying a new policy before your current A5 insurance policy expires. You can save around 10% with this discount.
• Save with More Vehicles Insured – Buying a policy with multiple cars on one policy may reduce the rate for each vehicle.

Consumers should know that most discounts do not apply to all coverage premiums. Most only cut the cost of specific coverages such as liability and collision coverage. If you do the math and it seems like you can get free auto insurance, companies wouldn’t make money that way. Any qualifying discounts should help lower your overall bill.

The chart below illustrates the comparison of Audi A5 auto insurance rates with and without discounts applied to the rates. Data assumes a female driver, no claims or driving citations, Oklahoma state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, multi-policy, homeowner, multi-car, and safe-driver discounts applied.

To choose insurance companies that offer discounts in Oklahoma City, click this link.

Audi A5 insurance rate analysis

The coverage information displayed below highlights different insurance policy prices for Audi A5 models. Knowing how policy premiums are formulated can aid in making decisions when shopping around.

Cost estimates assume single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Oklahoma minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Premium amounts do not factor in the specific area where the vehicle is garaged which can change auto insurance rates considerably.

Can higher deductibles save money?

The hardest decision when buying coverage is which deductible level should you buy. The rates below summarize the premium difference of buying low and high deductibles. The first rate table uses a $100 comprehensive and collision deductible and the second price chart uses a $500 deductible.

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Oklahoma minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Premium amounts do not factor in garaging location in Oklahoma City which can modify premium rates substantially.

Based on this data, we can arrive at the conclusion that using a $100 deductible will cost you about $42 more each month or $504 every year than requesting the higher $500 deductible. Because you would be required to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you normally average at a minimum 10 months between claims, you would save more money if you elect the higher deductible.

Reckless driving habits raise car insurance rates

The diagram below highlights how speeding tickets and at-fault collisions can impact Audi A5 yearly insurance costs for different categories of driver ages. Data assumes a single male driver, full coverage, $250 deductibles, and no additional discounts are factored in.

Full coverage or liability only

The chart below visualizes the comparison of Audi A5 insurance rates with full coverage and liability only. The prices are based on no claims, a clean driving record, $1,000 deductibles, drivers are single, and no discounts are taken into consideration.

When to drop comprehensive and collision

There is no clear-cut formula to stop buying full coverage on your policy, but there is a general school of thought. If the annual cost of having full coverage is about 10% or more of the replacement cost minus the deductible, then it might be time to buy liability only.

For example, let’s assume your Audi A5 book value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company will settle for is $6,000 after paying your deductible. If it’s costing in excess of $600 a year for full coverage, then it could be time to drop full coverage.

There are a few cases where removing full coverage is not recommended. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should not consider dropping full coverage.

Audi A5 Insurance Premium Factors

Smart consumers have a good feel for some of the elements that go into determining your car insurance rates. If you have some idea of what influences your rates, this helps enable you to make changes that can help you get cheaper rates. Lots of factors are part of the equation when you quote your car insurance policy. Some of the criteria are obvious such as your driving history, but other factors are less obvious such as whether you are married or your financial responsibility.

Listed below are a few of the things used by insurance companies to determine premiums.

Gals pay lower prices – Over the last 50 years, statistics have shown that females tend to be a little less risky than males. It does not mean females are better at driving than males. Both genders cause auto accidents at about the same rate, but the men have costlier accidents. Men also statistically receive more major tickets like DWI (DUI) or reckless driving.

The example below shows the comparison of Audi A5 car insurance costs for male and female drivers. The data assumes no violations or claims, full coverage, $250 deductibles, drivers are single, and no discounts are applied to the premium.

Save money by eliminating extra policy coverages – There are many add-on coverages that can waste your money on your A5 policy. Insurance for things like roadside assistance, better glass coverage, and term life insurance are examples of these. They may seem like a good idea when you first buy your policy, but if you have no use for them remove them from your policy.

Is your car, truck or SUV built for speed? – The make and model of the car or truck you need to insure makes a huge difference in determining your rates. The cheapest insurance rates will generally be found on smaller low performance passenger models, but that’s not the only thing that factors into the final price.

The data below uses these assumptions: single female driver age 20, full coverage with $500 deductibles, and no discounts or violations. It shows Audi A5 policy rates compared to other models of vehicles that have different risk factors.

Liability safeguards assets – The liability section of your policy provides coverage if you are responsible for physical damage or personal injury to other. Your policy’s liability insurance provides legal defense coverage which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so drivers should buy more than the minimum limits required by law.

Single drivers take more risk – Getting married can get you a discount on your car insurance policy. Marriage demonstrates that you tend to be more mature than a single person and insurance companies reward insureds because drivers who are married are more cautious.

Uninterrupted coverage saves money – Driving your car without having proper coverage can get you a ticket and any future policy may cost more because you let your insurance expire. Not only will rates go up, being ticketed for driving with no insurance may earn you a hefty fine and possibly a revoked license.

Loss probability for an Audi A5 – Insurers use past insurance losses to determine a rate that will be profitable for them. Models that historically have increased claim numbers or amounts will have a higher premium rate. The next table shows the insurance loss data used by companies for Audi A5 vehicles.

For each type of coverage, the loss probability for all vehicles combined as an average is set at 100. Values below 100 represent a good loss history, while values that are above 100 indicate higher probability of having a loss or a tendency for claims to be larger.