How Much Does 2016 Cadillac CTS-V Car Insurance Cost?

Looking for better auto insurance rates for your Cadillac CTS-V? Having to pay for overpriced auto insurance can empty your savings account, especially in this economy. Doing a price comparison is a great way to reduce premiums and put more money in your pocket.

Consumers have many auto insurance companies to insure vehicles with, and although it’s nice to have a selection, it can be more difficult to find the lowest rates.

Buying car insurance is not that difficult. Essentially every vehicle owner who carries insurance coverage will be able to lower their premiums. Nevertheless, car owners do need to learn how the larger insurance companies compete online and apply this information to your search.

Don’t miss these discounts

Companies offering auto insurance don’t list every discount very clearly, so we researched some of the more common and also the lesser-known car insurance savings.

  • College Student – Kids in college who live away from home and do not have a car can be insured at a reduced rate.
  • Homeowners Savings – Being a homeowner may trigger a car insurance policy discount because owning a home requires personal responsibility.
  • Federal Employees – Active or retired federal employment could cut as much as 10% off for CTS-V insurance with a few car insurance companies.
  • Anti-theft Discount – Anti-theft and alarm systems help deter theft and will save you 10% or more.
  • Club Memberships – Belonging to a qualifying organization could trigger savings when shopping for car insurance for CTS-V insurance.
  • Senior Citizens – If you qualify as a senior citizen, you may qualify for a discount up to 10% for CTS-V insurance.
  • Seat Belt Usage – Buckling up and requiring all passengers to use a seat belt could cut 10% or more off the personal injury premium cost.
  • Early Switch Discount – Some insurance companies reward drivers for signing up prior to your current policy expiring. It’s a savings of about 10%.
  • Anti-lock Brake System – Anti-lock brake equipped vehicles are safer to drive and qualify for as much as a 10% discount.

It’s important to note that most discount credits are not given to your bottom line cost. Most cut the price of certain insurance coverages like collision or personal injury protection. So despite the fact that it appears all those discounts means the company will pay you, you’re out of luck.

For a list of providers offering car insurance discounts, click here.

Auto Insurance Prices

Most companies like State Farm, Allstate and Geico give coverage price quotes on their websites. This process is fairly simple as you just enter your required coverages as detailed in the form. Once you submit the form, the system will obtain information on your driving record and credit history and returns a price. This helps simplify price comparisons, but having to visit different websites and fill out multiple forms gets old quite quickly. But it’s very important to do this in order to get a better rate.

Rate comparisons made easy

A quicker way to find lower prices is to use a quote form that analyzes rates from several companies at one time. It saves time, reduces the work, and makes quoting online much more efficient. After your information is entered, your coverage is rated and you are able to buy any or none of the price quotes you receive. If you find a better price you simply finish the application and buy the new coverage. It just takes a couple of minutes and you will find out if you’re overpaying now.

To save time and find out how much you’re overpaying now, click here to open in a new tab and fill out the form. If you have coverage now, it’s recommended you input deductibles and limits as close as possible to your current policy. This makes sure you will be getting a price comparison using the exact same coverages.

Cadillac CTS-V rates influenced by many factors

Consumers need to have an understanding of the factors that play a part in calculating your insurance rates. When you know what positively or negatively controls the rates you pay allows you to make educated decisions that could result in much lower annual insurance costs.

  • Do you know you’re credit rating? – Your credit rating is a large factor in determining your rates. Drivers who have high credit scores tend to be better drivers and file fewer claims than those with lower ratings. Therefore, if your credit score can use some improvement, you could be paying less to insure your 2016 Cadillac CTS-V by improving your rating.
  • Lower rates come with age – More mature drivers are more cautious drivers, statistically cause fewer accidents and receive fewer citations. Youthful drivers are known to be more careless when driving therefore insurance rates are much higher.
  • Men pay higher rates – Statistics show women are more cautious behind the wheel. Now that doesn’t mean men are WORSE drivers than women. Women and men cause accidents in similar numbers, but the male of the species tend to have more serious accidents. Men also tend to have more aggressive citations like DUI and reckless driving.
  • Don’t buy coverages you don’t need – There are quite a few additional coverages that you can get tricked into buying on your CTS-V policy. Insurance for vanishing deductibles, accidental death and membership fees are examples of these. These may sound like a good investment when you first buy your policy, but your needs may have changed so eliminate the coverages to reduce your premium.

When might I need help?

When it comes to buying the right insurance coverage for your vehicles, there really is not a one size fits all plan. Every insured’s situation is different and a cookie cutter policy won’t apply. These are some specific questions might point out if your situation would benefit from professional advice.

  • Can I afford to pay high deductible claims out of pocket?
  • Is a new car covered when I drive it off the dealer lot?
  • Does car insurance cover theft of personal property?
  • Will my vehicle be repaired with OEM or aftermarket parts?
  • Am I covered when using my vehicle for business?
  • Will I lose any money if I cancel my policy before it expires?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • What is the rate difference between pleasure use and commuting?
  • What is an SR-22 filing?
  • Does coverage extend to my business vehicle?

If you don’t know the answers to these questions but you know they apply to you, you may need to chat with an agent. To find an agent in your area, simply complete this short form or click here for a list of insurance companies in your area.

Ads can be misleading

Insurance providers like State Farm, Allstate and Geico consistently run ads on TV and radio. They all make the same claim that you can save if you change your coverage to them. How does each company say the same thing?

All the different companies have a certain “appetite” for the type of customer that makes them money. For example, a driver they prefer might be over the age of 40, has no driving citations, and drives less than 10,000 miles a year. A customer getting a price quote who fits that profile will qualify for the lowest rates and therefore will save when they switch companies.

Consumers who are not a match for this ideal profile must pay higher prices and this can result in business going elsewhere. The ads state “people who switch” not “everybody who quotes” save money. That is how companies can make those claims. This illustrates why you need to get as many comparisons as possible. Because you never know which company will fit your personal profile best.

Auto insurance coverages

Knowing the specifics of your car insurance policy aids in choosing the best coverages and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy. Below you’ll find typical coverages found on most car insurance policies.

Insurance for medical payments

Personal Injury Protection (PIP) and medical payments coverage provide coverage for expenses for X-ray expenses, ambulance fees, pain medications, prosthetic devices and nursing services. They can be utilized in addition to your health insurance policy or if you lack health insurance entirely. Coverage applies to you and your occupants in addition to being hit by a car walking across the street. PIP is not an option in every state and may carry a deductible

Auto collision coverage

Collision insurance will pay to fix damage to your CTS-V resulting from a collision with another vehicle or an object, but not an animal. A deductible applies then the remaining damage will be paid by your insurance company.

Collision can pay for things like scraping a guard rail, colliding with another moving vehicle, damaging your car on a curb and hitting a mailbox. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. It’s also possible to increase the deductible to get cheaper collision coverage.

Comprehensive coverage (or Other than Collision)

Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things such as a tree branch falling on your vehicle, hitting a deer and damage from flooding. The maximum amount you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Liability coverage

This coverage protects you from damages or injuries you inflict on other’s property or people. This coverage protects you against other people’s claims, and does not provide coverage for damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. As an example, you may have values of 50/100/50 that means you have a $50,000 limit per person for injuries, $100,000 for the entire accident, and $50,000 of coverage for damaged propery.

Liability can pay for things such as legal defense fees, structural damage and pain and suffering. How much liability should you purchase? That is a decision to put some thought into, but it’s cheap coverage so purchase higher limits if possible.

Uninsured Motorist or Underinsured Motorist insurance

This coverage provides protection when the “other guys” do not carry enough liability coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your Cadillac CTS-V.

Because many people carry very low liability coverage limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is important protection for you and your family.

Saving money makes a lot of cents

In this article, we covered many ways to lower your 2016 Cadillac CTS-V insurance rates. It’s most important to understand that the more you quote, the better your comparison will be. Consumers could even find that the lowest priced insurance coverage comes from some of the lesser-known companies. They can often insure niche markets at a lower cost than their larger competitors like Progressive or Geico.

Low-cost insurance is definitely available on the web in addition to many insurance agents, and you need to comparison shop both to have the best rate selection. A few companies do not provide the ability to get a quote online and usually these small insurance companies provide coverage only through local independent agents.

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