Best Ways to Save on Oklahoma City Cadillac SRX Insurance

Unthinkable but true, a large majority of drivers in Oklahoma kept buying from the same company for well over three years, and roughly 40% of drivers have never even compared quotes to find cheap rates. American drivers could cut their rates by nearly $860 a year, but most undervalue how much they could save if they just switched companies.

Really, the only way to find affordable quotes for auto insurance rates is to do an annual price comparison from insurance carriers who sell auto insurance in Oklahoma City. Prices can be compared by following these guidelines.

• First, get a basic knowledge of how insurance works and the steps you can take to keep rates low. Many risk factors that are responsible for high rates such as distracted driving and a bad credit rating can be improved by making minor driving habit or lifestyle changes.
• Second, obtain price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from one company like Progressive or Allstate, while agents who are independent can quote prices from multiple insurance companies. Select a company
• Third, compare the new rate quotes to the premium of your current policy to determine if switching companies saves money. If you find a lower rate, make sure the effective date of the new policy is the same as the expiration date of the old one.
• Fourth, tell your current company of your intent to cancel your current coverage. Submit the signed application along with the required initial payment for the new policy. Don’t forget to safely store the proof of insurance paperwork somewhere easily accessible.

One tip to remember is to use the same physical damage deductibles and liability limits on each quote request and and to get quotes from as many companies as possible. Doing this enables a level playing field and the best price selection.

Our goal in writing this article help educate you on the best ways to compare prices and some tips to save money. If you are insured now, you should be able to shop for the lowest rates using these methods. But Oklahoma vehicle owners must understand the methods companies use to sell insurance online because it varies considerably.

Affordable Oklahoma City insurance quotes with discounts

Insurance can cost an arm and a leg, but there may be some discounts that can drop the cost substantially. Many discounts should be triggered at the time of quoting, but some must be requested specifically before they will apply.

• Savings for New Vehicles – Buying a new car instead of a used SRX can be considerably cheaper because newer vehicles have to meet stringent safety requirements.
• Seat Belt Usage – Drivers who require all vehicle occupants to buckle up could cut 10% or more off the medical payments premium.
• Anti-theft Discount – Cars equipped with tracking devices and advanced anti-theft systems are stolen less frequently and will qualify for a discount on a Oklahoma City car insurance quote.
• Senior Citizens – If you’re over the age of 55, you are able to get a slight reduction on a Oklahoma City car insurance quote.
• Discount for Swiching Early – Some insurance companies reward drivers for buying a new policy prior to your current SRX insurance policy expiration. You could save around 10% when you buy Oklahoma City car insurance online.
• Claim Free – Drivers with accident-free driving histories have much lower rates when compared with insureds who have frequent claims or accidents.
• E-sign Discounts – Some larger companies provide a small discount for completing your application on the internet.
• Good Students Pay Less – Getting good grades can earn a discount of 20% or more. The discount lasts well after school through age 25.
• Bundle and Save – If you can bundle your auto and home insurance and insure them both with the same insurance company you may earn over 10 percent off each policy depending on the company.
• Government Employees – Active or former government employment can earn a discount up to 10% with select insurance companies.

Keep in mind that most of the big mark downs will not be given to the entire policy premium. Most only cut specific coverage prices like liability and collision coverage. So even though it sounds like all the discounts add up to a free policy, insurance companies wouldn’t stay in business.

The chart below illustrates the difference between Cadillac SRX car insurance rates with and without discounts being applied to the rates. The premium estimates are based on a female driver, no driving violations, no at-fault accidents, Oklahoma state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, marriage, safe-driver, multi-policy, and multi-car discounts applied.

Large insurance companies and their possible discounts can be found below.

• American Family may include discounts for TimeAway discount, accident-free, multi-vehicle, air bags, defensive driver, and mySafetyValet.
• State Farm has savings for Drive Safe & Save, multiple policy, accident-free, multiple autos, and passive restraint.
• 21st Century includes discounts for student driver, 55 and older, defensive driver, air bags, early bird, driver training, and theft prevention.
• Travelers discounts include home ownership, good student, multi-policy, save driver, and continuous insurance.
• GEICO may have discounts that include federal employee, membership and employees, multi-vehicle, good student, emergency military deployment, five-year accident-free, and anti-theft.

Before you buy a policy, ask every company the best way to save money. Savings may not apply in every state. To locate insurance companies offering insurance discounts in Oklahoma, click this link.

The quickest method we recommend to compare car insurance company rates for Cadillac SRX insurance in Oklahoma City utilizes the fact most of the bigger providers will pay a fee to provide you with a free rate quote. All you need to do is give them rating details like if a SR-22 is required, if the car is leased, how much coverage you want, and if your license is active. Those rating factors is automatically sent to many highly-rated insurers and you get price estimates instantly.

To start a rate quote now, click here and enter the information requested.

The companies in the list below offer free rate quotes in Oklahoma City, OK. If multiple companies are shown, it’s a good idea that you get rate quotes from several of them to get the cheapest price.

Cadillac SRX insurance coverage information

The coverage table below showcases a range of insurance premium costs for Cadillac SRX models. Having a better idea how car insurance prices are established is important for you to make decisions on which coverage to buy.

Data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Oklahoma minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Table data does not factor in Oklahoma City location which can alter price quotes greatly.

Insurance deductibles

One of the more difficult decisions when buying insurance is what deductibles to buy. The figures shown below sum up the rate differences between low and high physical damage deductibles. The first rate comparisons uses a $250 physical damage coverage deductible and the second price table uses a $1,000 deductible.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Oklahoma minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Prices do not factor in vehicle garaging location which can lower or raise insurance rates substantially.

Based on the data above, we can derive that using a $250 deductible will cost you approximately $39 more each month or $468 each year averaged for all SRX models than choosing the higher $1,000 deductible. Since you would pay $750 more to settle a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to go more than 19 months between claim filings, you would probably come out ahead by selecting a higher deductible.

The illustration below shows how choosing a deductible and can increase or decrease Cadillac SRX annual premium costs for each different age category. The costs are based on a married male driver, comprehensive and collision coverage, and no discounts are applied to the premium.

Difference between full coverage and liability only rates

The illustration below illustrates the comparison of Cadillac SRX auto insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Oklahoma. The prices are based on no accidents, no driving violations, $250 deductibles, drivers are single, and no discounts are applied to the premium.

Should you pay for full coverage or liability only?

There is no exact formula to drop comp and collision coverage, but there is a broad guideline. If the yearly cost of full coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.

For example, let’s say your Cadillac SRX settlement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, you would only receive $8,000 after paying your policy deductible. If you are paying in excess of $800 annually to have full coverage, then you may need to consider dropping full coverage.

There are a few cases where buying only liability insurance is not a good idea. If you still have a loan on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should keep full coverage on your policy.

How You Can Control Cadillac SRX Insurance Costs

It’s important that you understand some of the factors that help calculate your auto insurance rates. If you understand what positively or negatively impacts your premiums, this empowers consumers to make smart changes that could help you find cheaper rates.

The list below includes a partial list of the pieces auto insurance companies consider when setting rates.

• Does insurance cost less for women? – Over the last 30 years, statistics show that females take fewer risks when driving. It does not mean women are better drivers. They both are in accidents in similar numbers, but the males have costlier accidents. In addition to higher claims, males also get higher numbers of serious violations like reckless driving and DUI.

  The illustration below visualizes the comparison of Cadillac SRX auto insurance rates for male and female drivers. The premiums are based on no claims or driving citations, comprehensive and collision coverage, $500 deductibles, single marital status, and no discounts are applied.

• Safety first – Safe vehicles tend to be cheaper to insure. The safest vehicles reduce injuries and lower injury rates translates directly to fewer claims which can result in lower premiums.
• Never go without auto insurance – Not having insurance can get you a ticket and any future policy may cost more because you let your insurance lapse. Not only will you pay higher rates, not being able to provide proof of insurance could earn you a fine, jail time, or a revoked license.

• The type of car you drive affects your rates – The performance of the car you are insuring makes a substantial difference in your auto insurance rates. The lowest premiums are usually for economy passenger models, but the cost you end up paying is determined by many additional factors.

  The following data is based on a married female driver age 50, full coverage with $250 deductibles, and no discounts or violations. It shows Cadillac SRX insurance rates compared to other makes and models that have a range of risk factors.

• Cadillac SRX claim data – Insurers take into consideration historical loss data for every vehicle to help set a rate to offset losses. Models that historically have higher claim frequency or loss amount will have higher rates for specific coverages. The table below outlines the collected loss data for Cadillac SRX vehicles.

  For each insurance policy coverage type, the loss probability for all vehicles combined as an average is a value of 100. Values that are below 100 represent a good loss history, while percentage values above 100 indicate more frequent claims or statistically larger claims.

  
  

  Cadillac SRX Insurance Claim Statistics

  Vehicle 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

  BETTER

  AVERAGE

  WORSE

  Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Can’t I compare rates from local Oklahoma City insurance agencies?

Some people prefer to go talk to an agent and that is recommended in a lot of cases One of the benefits of price shopping on the web is that you can find cheaper premium rates and still choose a local agent. And providing support for small agencies is definitely important in Oklahoma City.

To make it easy to find an agent, after completing this form (opens in new window), your coverage information is submitted to agents in your area that can provide free Oklahoma City car insurance quotes for your insurance coverage. You won’t even need to leave your house since rate quotes are delivered to you directly. You can most likely find cheaper rates and work with a local agent. In the event you want to compare rates from a specific insurance company, feel free to jump over to their website and fill out the quote form the provide.

Pick the best car insurance agent in Oklahoma City for you

If you are searching for a reputable agency, it can be helpful to understand the different agency structures and how they are distinctly different. Agencies in Oklahoma City can be classified as either independent agents or exclusive agents.

Independent Agencies or Brokers

Agents that elect to be independent do not sell for just one brand and that is an advantage because they can write policies with an assortment of companies and find the cheapest insurance rates. If your agent finds better pricing, they simply switch companies in-house and that require little work on your part. If you need lower rates, you need to contact multiple independent agents in order to compare the most rates.

Shown below is a partial list of independent insurance agents in Oklahoma City who may be able to give you free insurance rate quotes.

View more agents

Exclusive Insurance Agencies

Agents in the exclusive channel can only write with one company like Allstate and State Farm. Exclusive agents cannot compare rates from other companies so they are skilled at selling on more than just price. Exclusive agents receive extensive training on their company’s products which can be an advantage.

Listed below are Oklahoma City exclusive insurance agents who can help you get rate quotes.

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Picking an auto insurance agent shouldn’t rely on just the premium amount. These are some questions you should get answers to.

• Are they properly licensed to sell insurance in Oklahoma?
• Can they provide you with a list of referrals?
• How would your car be valued if totaled?
• Does the agency have a positive business rating?
• Does the agency support the community they serve?
• Does the agent help file claims?
• Can glass claims be handled at your home?

Upon getting good responses to your questions as well as a price you’re happy with, you may have found an insurance agent that can be trusted to properly insure your vehicles.

It may be expensive, but it’s not optional

Despite the potentially high cost of Cadillac SRX insurance, car insurance serves several important purposes.

First, the majority of states have mandatory insurance requirements which means the state requires a minimum amount of liability protection in order to get the vehicle licensed. In Oklahoma these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.

Second, if your car has a lienholder, more than likely the lender will make it mandatory that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If coverage lapses or is canceled, the bank may buy a policy for your Cadillac at a much higher premium rate and force you to pay the higher premium.

Third, car insurance protects not only your vehicle but also your financial assets. Insurance will pay for all forms of medical expenses for both you and anyone you injure as the result of an accident. One policy coverage, liability insurance, will also pay for a defense attorney in the event you are sued. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage minus the deductible amount.

The benefits of insuring your car outweigh the cost, particularly for liability claims. Despite what companies tell you, the average driver overpays as much as $869 every year so compare rates once a year at a minimum to be sure current rates are still competitive.

Don’t give up on cheaper premiums

You just read many ideas to compare Cadillac SRX insurance car insurance rates in Oklahoma City. The key thing to remember is the more rate quotes you have, the higher your chance of finding the cheapest Cadillac SRX rate quotes. You may even be surprised to find that the lowest car insurance rates come from a small local company. Smaller companies can often insure niche markets at a lower cost compared to the large companies like State Farm and Allstate.

Discount Cadillac SRX insurance in Oklahoma City can be found online and from local insurance agents, and you should compare price quotes from both to have the best rate selection. Some insurance providers may not have rates over the internet and many times these regional insurance providers provide coverage only through independent agents.

Helpful resources

• Air Bags: Potential Dangers to Your Children (Insurance Information Institute)
• What Insurance is Cheapest for a Subaru Forester in Oklahoma City? (FAQ)
• Who Has the Cheapest Car Insurance Quotes for 17 Year Olds in Oklahoma City? (FAQ)
• Understanding your Policy (NAIC.org)
• Comprehensive Coverage (Liberty Mutual)
• Things to Know Before you Cancel Insurance (Allstate)
• Top Signs Your Brakes are Giving Out (State Farm)