2002 Oldsmobile Silhouette Insurance Rates

Trying to find lower insurance rates for your Oldsmobile Silhouette? Did you fall for a flashy sales pitch and buy overpriced insurance? Believe me when I say you’re not the only one.

Numerous auto insurance companies battle for your insurance dollar, so it’s not easy to compare every insurance company and get the definite cheapest price

Smart consumers take time to check insurance prices periodically because rates change quite often. Even if you think you had the best deal for Silhouette insurance last year you can probably find a lower rate today. Starting now, forget all the misinformation about insurance because I’m going to teach you the proper way to save on insurance.

If you currently have car insurance, you will most likely be able to save some money using this strategy. Finding the best rates is not that difficult. But drivers do need to understand how insurance companies price insurance differently because it can help you find the best coverage.

How much can you save with discounts?

Insurance can cost an arm and a leg, but you can get discounts to help offset the cost. Larger premium reductions will be automatically applied at quote time, but a few must be manually applied before they will apply.

  • Low Mileage Discounts – Driving fewer miles can qualify you for better rates on cars that stay parked.
  • Discount for Good Grades – A discount for being a good student can save 20 to 25%. This discount can apply up until you turn 25.
  • Discount for Life Insurance – Select insurance companies reward you with a discount if you purchase life insurance.
  • Defensive Driving Course – Completing a driver safety course can save you 5% or more and easily recoup the cost of the course.
  • Pay Now and Pay Less – If you pay your entire premium ahead of time instead of paying each month you could save 5% or more.
  • Own a Home – Simply owning a home can save you money because of the fact that having a home shows financial diligence.

As a disclaimer on discounts, most of the big mark downs will not be given to the overall cost of the policy. Most cut individual premiums such as liability, collision or medical payments. Just because you may think you would end up receiving a 100% discount, it doesn’t quite work that way. But any discount will cut the cost of coverage.

Insurance companies that may offer some of the above discounts include:

It’s a good idea to ask each company how you can save money. Discounts might not be offered in your state.

Parts of the Oldsmobile Silhouette rate equation

It’s important that you understand the rating factors that play a part in calculating car insurance rates. Knowing what determines base rates allows you to make educated decisions that will entitle you to lower car insurance prices.

Shown below are some of the factors companies use to determine prices.

  • Do you know you’re credit rating? – Having a bad credit score is a important factor in calculating your car insurance rates. Consumers who have excellent credit tend to be less risk to insure than those with poor credit. If your credit is low, you could pay less to insure your 2002 Oldsmobile Silhouette by spending a little time repairing your credit.
  • Extra add-on coverages are wasting money – There are many add-on coverages you can purchase when buying car insurance. Things like personal injury protection, better glass coverage and term life insurance are examples of these. They may seem good when you first buy your policy, but if they’re wasting money remove them from your policy.
  • Lower rates come with age – Mature drivers are more cautious drivers, tend to cause fewer accidents and get fewer tickets. Young drivers are statistically proven to get distracted easily in a vehicle and because of this, their car insurance rates are much higher.
  • Men pay higher rates – Statistics demonstrate that women are safer drivers than men. That doesn’t necessarily mean that women are BETTER drivers than men. They both are in accidents at about the same rate, but the male of the species cause more damage. Men also tend to have more aggressive citations like reckless driving and DUI. Youthful male drivers tend to get in the most accidents and therefore have the most expensive car insurance rates.
  • Liability coverage is peace of mind – The liability section of your policy will protect you if a jury decides you are liable for damages from an accident. Liability insurance provides legal defense which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so drivers should carry high limits.
  • Safer cars cost less to insure – Safer cars tend to have better insurance rates. These vehicles reduce injuries and any reduction in injury severity translates into fewer and smaller insurance claims and more competitive rates for policyholders. If the Oldsmobile Silhouette earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website you may qualify for a discount.

How much car insurance do I need?

When choosing adequate coverage for your vehicles, there isn’t really a cookie cutter policy. Your needs are not the same as everyone else’s so your insurance needs to address that. These are some specific questions can aid in determining whether your personal situation would benefit from professional advice.

  • Is there coverage for injuries to my pets?
  • Is my babysitter covered when using my vehicle?
  • When should I drop full coverage on my 2002 Oldsmobile Silhouette?
  • Is my teenager covered with friends in the car?
  • Am I missing any policy discounts?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • What is high-risk coverage and where do I buy it?

If you’re not sure about those questions but a few of them apply, then you may want to think about talking to an agent. If you want to speak to an agent in your area, complete this form or click here for a list of car insurance companies in your area.

Do you really save 40% when you switch?

Insurance coverage providers like Progressive, Geico, Allstate and State Farm consistently run ads on TV and radio. They all make an identical promise that you can save if you change to their company. But how can every company make the same claim?

Different companies can use profiling for the driver that makes them money. For example, a driver they prefer could possibly be between the ages of 40 and 55, is a homeowner, and chooses high deductibles. Any new insured who meets those qualifications is entitled to the best price and is almost guaranteed to save when they switch companies.

Potential customers who don’t qualify for these standards will be quoted higher premiums which leads to business not being written. The ads state “customers that switch” but not “drivers who get quotes” save money. This is how insurance companies can confidently state the savings.

This emphasizes why drivers must compare many company’s rates. Because you never know which company will give you the biggest savings on Oldsmobile Silhouette insurance.

Coverages available on your car insurance policy

Knowing the specifics of your car insurance policy can help you determine the best coverages at the best deductibles and correct limits. The terms used in a policy can be confusing and nobody wants to actually read their policy. Below you’ll find typical coverages found on the average car insurance policy.

Coverage for liability

Liability coverage protects you from injuries or damage you cause to a person or their property. It protects YOU from claims by other people, and doesn’t cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property. Some companies may use one limit called combined single limit (CSL) which combines the three limits into one amount rather than limiting it on a per person basis.

Liability insurance covers claims such as pain and suffering, repair costs for stationary objects and court costs. How much liability coverage do you need? That is your choice, but consider buying as high a limit as you can afford.

Uninsured/Underinsured Motorist coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they are uninsured or don’t have enough coverage. This coverage pays for medical payments for you and your occupants and damage to your Oldsmobile Silhouette.

Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. So UM/UIM coverage is important protection for you and your family. Usually the UM/UIM limits are similar to your liability insurance amounts.

Comprehensive coverage

This coverage will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things like vandalism, falling objects and a tree branch falling on your vehicle. The maximum amount a car insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.

Coverage for collisions

Collision coverage covers damage to your Silhouette caused by collision with an object or car. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims such as driving through your garage door, colliding with a tree and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. Another option is to choose a higher deductible to get cheaper collision coverage.

Medical payments coverage and PIP

Medical payments and Personal Injury Protection insurance pay for immediate expenses for prosthetic devices, pain medications, EMT expenses and dental work. The coverages can be used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. Coverage applies to all vehicle occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is not universally available but can be used in place of medical payments coverage

Be Smart and Buy Smart

We just covered many tips how you can get a better price on 2002 Oldsmobile Silhouette insurance. The key concept to understand is the more rate comparisons you have, the better chance you’ll have of finding lower rates. You may be surprised to find that the lowest rates come from a small mutual company. Some small companies may have significantly lower rates on certain market segments than the large multi-state companies such as State Farm, Geico and Nationwide.

When trying to cut insurance costs, never reduce coverage to reduce premium. There are a lot of situations where someone dropped full coverage only to regret at claim time they didn’t purchase enough coverage. The aim is to buy a smart amount of coverage for the lowest price.

Additional auto insurance information can be read at the links below