Affordable Insurance for a Dodge Challenger in Toledo

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Discount Dodge Challenger insuranceIf saving money is your primary concern, then the best way to find low-cost Dodge Challenger insurance is to make a habit of regularly comparing prices from insurers in Toledo. You can compare rates by following these steps.

  • First, read about policy coverages and the steps you can take to prevent expensive coverage. Many rating criteria that drive up the price like traffic citations, accidents, and a less-than-favorable credit score can be amended by making minor driving habit or lifestyle changes.
  • Second, request rate estimates from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can provide rates from one company like GEICO and Allstate, while independent agents can quote rates from many different companies. Find a Toledo insurance agent
  • Third, compare the price quotes to your existing coverage and see if there is a cheaper rate. If you find a better price and decide to switch, ensure there is no coverage lapse between policies.
  • Fourth, tell your current agent or company of your intention to cancel your current coverage and submit payment and a completed application for your new policy. When you receive it, put the certificate verifying coverage in an easily accessible location.

One thing to remember is to make sure you enter the same level of coverage on every quote request and to quote with as many auto insurance providers as possible. This provides an accurate price comparison and many rates to choose from.

It's safe to assume that insurance companies don't want their customers to go rate shopping. Insureds who rate shop once a year are inclined to move their business because they have good chances of finding coverage at a cheaper rate. A study showed that people who faithfully checked for cheaper rates saved an average of $72 a month compared to those who never compared rates.

If saving the most money on Dodge Challenger insurance in Toledo is your objective, then understanding the best ways to find and compare insurance coverage can help make the process easier and more efficient.

If you have a policy now, you should be able to lower your rates using the techniques presented in this article. Finding the cheapest auto insurance coverage in Toledo is much easier if you know where to start. But Ohio consumers do need to learn how big insurance companies market on the web and take advantage of how the system works.

How to Lower Your Insurance Prices

A large part of saving on auto insurance is knowing a few of the rating criteria that help calculate auto insurance rates. If you have a feel for what positively or negatively impacts your premiums, this allows you to make educated decisions that can help you get better auto insurance rates.

The items below are just a few of the factors used by your company to calculate your premiums.

  • Too many policy claims will drive prices up - If you are the type of insured that files lots of claims you can look forward to either a policy non-renewal or much higher rates. Insurance companies in Ohio award cheaper rates to drivers who do not file claims often. Auto insurance is meant to be used in the event of claims that pose a financial burden.
  • Only buy coverage you need - There are quite a few extra bells and whistles that can add up but may not be useful. Insurance for things like replacement cost coverage, towing, and motor club memberships may not be needed and are just wasting money. They may seem like a good idea when you first buy your policy, but your needs may have changed so get rid of them and save.
  • Discounts for married couples - Being married may earn you lower rates when shopping for auto insurance. Having a spouse demonstrates that you tend to be more responsible and it's proven that drivers who are married file infrequent claims.
  • Raise your physical damage deductibles for better rates - Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your vehicle. Examples of some claims that would be covered would be a broken windshield, vandalism, and burglary. Physical damage deductibles are how much you are required to spend in the event of a claim. The more money you are required to pay out-of-pocket, the less your company will charge you for insurance.
  • Mileage impacts costs - Driving more miles annually the more you'll pay to insure it. Almost all companies calculate prices based on how the vehicle is used. Autos not used for work or commuting can be on a lower rate level than those that get driven frequently. An incorrectly rated Challenger is just wasting money. It's a good idea to make sure your auto insurance declarations sheet reflects the correct usage, because improper ratings can cost you money.
  • Premiums are impacted by vehicle performance - The make and model of the car you own makes a huge difference in your car insurance bill. The cheapest insurance rates are generally reserved for the lowest performance passenger vehicles, but there are many factors that impact the final cost.

    The next chart assumes a single female driver age 50, full coverage with $1000 deductibles, and no discounts or violations. It shows Dodge Challenger policy rates compared to other makes and models that have a range of risk factors.

Rate information and statistics

The coverage table below covers a range of insurance coverage prices for Dodge Challenger models. Understanding how insurance premiums are formulated is important to be able to make smart choices when purchasing an auto insurance policy.

Dodge Challenger Insurance Rates in Toledo, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Challenger SE $118 $226 $290 $18 $86 $738 $62
Challenger R/T $130 $260 $290 $18 $86 $784 $65
Challenger SRT-8 $142 $294 $290 $18 $86 $830 $69
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Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Premium costs do not factor in specific location which can modify insurance rates considerably.

Physical damage deductibles

One common question asked by Toledo drivers is how high should the physical damage deductibles be. The figures shown below determine the differences in price when you choose different physical damage coverage deductibles. The first price estimate table uses a $250 comprehensive and collision deductible and the second price chart uses a $500 deductible.

Dodge Challenger insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Challenger SE $220 $348 $256 $16 $76 $941 $78
Challenger R/T $244 $400 $256 $16 $76 $1,017 $85
Challenger SRT-8 $266 $454 $256 $16 $76 $1,093 $91
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Dodge Challenger insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Challenger SE $180 $280 $256 $16 $76 $808 $67
Challenger R/T $198 $324 $256 $16 $76 $870 $73
Challenger SRT-8 $216 $366 $256 $16 $76 $930 $78
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Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, multi-vehicle, and safe-driver. Rate information does not factor in specific zip code location which can raise or lower auto insurance rates greatly.

Based on the data above, we can derive that using a $250 deductible costs approximately $12 more each month or $144 annually across all Dodge Challenger models than requesting the higher $500 deductible. Since the policyholder would be required to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you tend to have at least 21 months between claims, you would probably come out ahead if you decide on a higher deductible. The illustration below shows a better example of how you can make your own decision.

Average monthly premium for $250 deductibles: $85
Average monthly premium for $500 deductibles (subtract): - $73
Monthly savings from raising deductible: $12
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $12
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 21 months

One thing to note is that increasing deductibles to lower your rates means you will have to pay more when you file a claim. You need some available funds in the event you have to pay the deductible.

Accidents and violations increase rates

The information below demonstrates how citations and fender-benders can influence Dodge Challenger insurance costs for each different age category. The rates are based on a married male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are factored in.

Car insurance rates based on gender

The illustration below compares Dodge Challenger yearly insurance costs for male and female drivers. The data is based on no accidents, no driving violations, full physical damage coverage, $100 deductibles, drivers are not married, and no other discounts are factored in.

Should you buy full coverage?

The example below shows the difference between Dodge Challenger insurance prices with and without full coverage. The data is based on no claims or driving citations, $1,000 deductibles, drivers are single, and no other discounts are factored in.

When to drop full coverage

There is no definitive formula of when to exclude full coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is about 10% or more of the vehicle's replacement cost less your deductible, then you might want to consider buying only liability coverage.

For example, let's pretend your Dodge Challenger replacement value is $8,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company would pay you is $7,000 after the deductible is paid. If premium cost is more than $700 a year for your policy with full coverage, then you may want to consider only buying liability coverage.

There are a few situations where dropping physical damage coverage is not a good idea. If you haven't satisfied your loan, you have to keep full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.

Do you qualify for discounts on Dodge Challenger insurance in Toledo?

Auto insurance companies do not advertise their entire list of discounts in a way that's easy to find, so the following is a list of some of the best known and also the lesser-known credits available to bring down your rates.Save money with discounts

  • Smart Student Discounts - Getting good grades could provide a savings of up to 20% or more. Many companies even apply the discount to college students well after school through age 25.
  • Toledo Homeowners Discount - Just owning your own home may earn you a small savings because it requires a higher level of personal finance.
  • Claim-Free Discount - Claim-free drivers are rewarded with significantly better rates on Toledo auto insurance quote when compared to bad drivers.
  • Use Seat Belts - Forcing all vehicle occupants to wear their seat belts could cut 10% or more off the medical payments premium.
  • Active Military Service - Being on active duty in the military may qualify for rate reductions.

Just know that some credits don't apply to the whole policy. Most only cut specific coverage prices like physical damage coverage or medical payments. Even though it appears having all the discounts means you get insurance for free, it just doesn't work that way. Any qualifying discounts will lower your policy cost.

The chart below compares Dodge Challenger annual premium costs with and without discounts applied to the policy rates. The costs are based on a female driver, no tickets, no at-fault accidents, Ohio 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 multi-policy, marriage, homeowner, multi-car, safe-driver, and claim-free discounts applied.

Larger insurance companies and some of the premium reductions they offer are included below.

  • State Farm discounts include accident-free, safe vehicle, student away at school, driver's education, and multiple autos.
  • GEICO may offer discounts for membership and employees, air bags, seat belt use, emergency military deployment, defensive driver, daytime running lights, and anti-lock brakes.
  • SAFECO offers discounts for homeowner, anti-lock brakes, drive less, accident prevention training, bundle discounts, multi-car, and anti-theft.
  • Farmers Insurance offers discounts including electronic funds transfer, business and professional, homeowner, youthful driver, and distant student.
  • AAA includes discounts for multi-policy, good student, good driver, pay-in-full, and education and occupation.
  • USAA may have discounts that include family discount, good student, vehicle storage, multi-vehicle, and military installation.

If you are trying to find low cost Toledo auto insurance quotes, ask every company which discounts can lower your rates. Some credits may not apply to policies everywhere. To see providers that offer the discounts shown above in Toledo, click here to view.

Which auto insurance company is best in Toledo?

Buying coverage from the highest-rated car insurance company can be challenging considering how many companies are available to choose from in Toledo. The ranking data shown next can help you select which companies to look at when shopping your coverage around.

Top 10 Toledo Car Insurance Companies Overall

  1. USAA
  2. 21st Century
  3. GEICO
  4. Nationwide
  5. AAA Insurance
  6. Liberty Mutual
  7. Safeco Insurance
  8. State Farm
  9. Travelers
  10. American Family

Top 10 Toledo Car Insurance Companies Ranked by Customer Satisfaction

  1. USAA - 92%
  2. Erie Insurance - 88%
  3. American Family - 88%
  4. State Farm - 88%
  5. Nationwide - 88%
  6. 21st Century - 88%
  7. AAA Insurance - 87%
  8. Liberty Mutual - 87%
  9. Farmers Insurance - 87%
  10. The Hartford - 87%

Compare. Compare. Compare.

We just covered a lot of ways to compare Dodge Challenger insurance rates in Toledo. The most important thing to understand is the more price quotes you have, the higher your chance of finding the cheapest Dodge Challenger rate quotes. You may even find the lowest rates come from some of the smallest insurance companies. Regional companies can often provide lower car insurance rates in certain areas as compared to the big name companies such as State Farm, GEICO and Nationwide.

Affordable Dodge Challenger insurance in Toledo is attainable both online and also from your neighborhood Toledo agents, so get free Toledo auto insurance quotes from both of them in order to have the best price selection to choose from. Some companies do not offer online quoting and usually these regional carriers work with local independent agents.

While you're price shopping online, it's not a good idea to buy less coverage just to save a little money. In too many instances, someone sacrificed liability limits or collision coverage and found out when filing a claim that saving that couple of dollars actually costed them tens of thousands. Your focus should be to buy enough coverage at the lowest possible cost, but do not sacrifice coverage to save money.

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