Affordable Toledo Cadillac SRX Insurance

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Insurance rates Cadillac SRX in ToledoIf you want to save money, the best way to find more affordable Cadillac SRX insurance is to start doing an annual price comparison from insurers that insure vehicles in Toledo.

  • Step 1: Get a basic knowledge of coverages and the steps you can take to prevent rate increases. Many risk factors that cause rate increases such as traffic violations and a poor credit rating can be improved by making lifestyle changes or driving safer. Keep reading for the details to prevent rate hikes and find overlooked discounts.
  • Step 2: Get rate quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from one company like GEICO or Farmers Insurance, while agents who are independent can provide prices for many different companies.
  • Step 3: Compare the new rates to your existing rates to see if a cheaper rate is available. If you find a lower rate quote and switch companies, ensure there is no coverage lapse between policies.
  • Step 4: Notify your agent or company to cancel the current policy and submit a down payment and signed policy application to your new insurance company. Don't forget to place your new proof of insurance paperwork along with the vehicle's registration papers.

A crucial key to this process is to make sure you're comparing the same liability limits and deductibles on each price quote and and to analyze as many companies as feasibly possible. Doing this helps ensure an apples-to-apples comparison and the best price selection.

It's amazing but almost 70% of insureds have been with the same company for a minimum of four years, and nearly half have never quoted car insurance rates at all. Toledo insurance shoppers could save almost 55% every year by just comparing quotes, but they don't know the rate savings if they bought a different policy.

Shop Cadillac SRX insurance online

The companies shown below offer price comparisons in Toledo, OH. If your goal is to find the best cheap auto insurance in OH, it's highly recommended you visit several of them to find the most competitive car insurance rates.

Car insurance data for a Cadillac SRX

The rate table shown below outlines estimates of rate quotes for Cadillac SRX models. Knowing how insurance prices are formulated can help guide drivers when making smart choices when selecting a policy.

Cadillac SRX Insurance Rates in Toledo, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $138 $276 $238 $14 $72 $738 $62
SRX Luxury 2WD $138 $316 $238 $14 $72 $778 $65
SRX Luxury AWD $138 $316 $238 $14 $72 $778 $65
SRX Performance 2WD $154 $316 $238 $14 $72 $794 $66
SRX Performance AWD $154 $316 $238 $14 $72 $794 $66
SRX Premium 2WD $154 $316 $238 $14 $72 $794 $66
SRX Premium AWD $154 $316 $238 $14 $72 $794 $66
Get Your Own Custom Quote Go

Table data represents married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Price estimates do not factor in specific Toledo garaging location which can impact coverage rates noticeably.

An analysis of deductible level

One of the most common car insurance questions is what deductibles to buy. The rates shown below sum up the differences in price between low and high policy deductibles. The first rate quote example uses a $100 deductible and the second price chart uses a $1,000 deductible.

Cadillac SRX insurance premium estimates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $220 $416 $226 $14 $68 $969 $81
SRX Luxury 2WD $220 $478 $226 $14 $68 $1,031 $86
SRX Luxury AWD $220 $478 $226 $14 $68 $1,031 $86
SRX Performance 2WD $246 $478 $226 $14 $68 $1,057 $88
SRX Performance AWD $246 $478 $226 $14 $68 $1,057 $88
SRX Premium 2WD $246 $478 $226 $14 $68 $1,057 $88
SRX Premium AWD $246 $478 $226 $14 $68 $1,057 $88
Get Your Own Custom Quote Go
Cadillac SRX insurance premium estimates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $122 $220 $226 $14 $68 $650 $54
SRX Luxury 2WD $122 $252 $226 $14 $68 $682 $57
SRX Luxury AWD $122 $252 $226 $14 $68 $682 $57
SRX Performance 2WD $136 $252 $226 $14 $68 $696 $58
SRX Performance AWD $136 $252 $226 $14 $68 $696 $58
SRX Premium 2WD $136 $252 $226 $14 $68 $696 $58
SRX Premium AWD $136 $252 $226 $14 $68 $696 $58
Get Your Own Custom Quote Go

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Prices do not factor in vehicle location which can alter price quotes considerably.

Using the data above, we can ascertain that using a $100 deductible costs approximately $29 more each month or $348 for a full year than choosing the higher $1,000 deductible. Since the policyholder would be required to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you average at a minimum 31 months between claim filings, you would save more money if you choose a higher deductible.

The information below shows how choosing a deductible and can increase or decrease Cadillac SRX insurance rates for different age groups of insureds. The costs are based on a married female driver, comp and collision included, and no policy discounts are applied.

Accidents and violations increase rates

The information below shows how violations and at-fault claims can influence Cadillac SRX insurance costs for different age groups. The rates are based on a married male driver, full physical damage coverage, $100 deductibles, and no additional discounts are factored in.

Annual premiums comparing men and women

The chart below compares Cadillac SRX insurance premiums for male and female drivers. The premiums are based on no tickets, no at-fault accidents, comprehensive and collision coverage, $500 deductibles, single status, and no additional discounts are factored in.

Toledo Insurance Premiums are Influenced by These Factors

Lots of factors are part of the equation when premium rates are determined. Some are pretty understandable such as your driving record, but others are not quite as obvious like where you live and annual miles driven.

Premiums drop with age - Youthful drivers in Ohio have a tendency to be inattentive and easily distracted with other occupants in the car so they pay higher auto insurance rates. Older drivers tend to be more responsible, tend to cause fewer accidents, and usually have better credit.

The following data uses these variables: single driver, full coverage with $100 deductibles, and no discounts or violations.

Deter car thieves - Selecting a car model that has an advanced theft prevention system can get you a discount on your auto insurance. Anti-theft features like LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system can thwart your car from being stolen.

File policy claims and pay more - Insurance companies in Ohio generally give better rates to drivers who are claim-free. If you file claims often, you can pretty much guarantee either higher rates or even cancellation. Your insurance policy is meant to be used in the event of major claims that would cause financial hardship.

Being married can save on auto insurance - Having a spouse may earn you lower rates on your auto insurance policy. Marriage translates into being more stable financially and it's statistically proven that married drivers tend to have fewer serious accidents.

Rural vs Urban Areas - Choosing to live in less populated areas of the country has definite advantages when talking about auto insurance. Drivers who live in large cities tend to have traffic congestion and longer commutes to work. Fewer people translates into fewer accident claims and lower theft and vandalism rates.

Cadillac SRX historical loss data - Auto insurance companies analyze claim trends for every vehicle to help determine rates. Models that have higher prevalence or dollar amount of losses will cost more for coverage. The table below illustrates the collected loss data for Cadillac SRX vehicles.

For each insurance policy coverage type, the claim amount for all vehicles, as a total average, is a value of 100. Percentage numbers below 100 represent a good loss history, while numbers that are greater than 100 indicate higher probability of having a loss or an increased chance of larger losses than average.

Auto Insurance Loss Data for Cadillac SRX Models
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

Data Source: (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Three good reasons to insure your vehicle

Even though it's not necessarily cheap to insure a Cadillac in Toledo, insuring your vehicle is most likely required but also gives you several important benefits.

  • Just about all states have mandatory insurance requirements which means the state requires specific limits of liability protection in order to license the vehicle. In Ohio 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.
  • If you have a lien on your Cadillac SRX, almost every bank will require that you buy full coverage to guarantee their interest in the vehicle. If you let the policy lapse, the lender may insure your Cadillac for a lot more money and require you to reimburse them much more than you were paying before.
  • Insurance preserves both your car and your personal assets. It will also reimburse you for medical expenses incurred in an accident. As part of your policy, liability insurance will also pay for a defense attorney if anyone sues you for causing an accident. If you have damage to your Cadillac as the result of the weather or an accident, comprehensive and collision coverage will pay all costs to repair after the deductible has been paid.

The benefits of carrying adequate insurance definitely exceed the cost, particularly when you have a large claim. Despite what companies tell you, the average driver is overpaying more than $700 annually so compare quotes from several companies once a year at a minimum to make sure the price is not too high.