A study showed that the majority of drivers have purchased from the same company for at least four years, and 38% of drivers have never even shopped around for affordable coverage. Ohio consumers could save nearly 55% each year by just shopping around, but they don’t invest the time required to compare rate quotes.
The preferred way to get budget Cadillac CTS-V insurance is to regularly compare price quotes from insurers who sell insurance in Cleveland. You can shop around by following these steps.
Step 1: Spend a few minutes and learn about the different coverages in a policy and the measures you can take to drop your rates. Many rating criteria that increase rates such as speeding tickets, accidents and an imperfect credit score can be controlled by making small lifestyle or driving habit changes. This article gives tips to help prevent costly coverage and earn a bigger discount.
Step 2: Compare rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from one company like GEICO or Farmers Insurance, while independent agents can quote rates for a wide range of companies. Click to view companies
Step 3: Compare the new rates to your current policy premium to determine if switching companies saves money. If you find a better price and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.
Step 4: Provide adequate notice to your current company of your intention to cancel your current policy. Submit the signed application along with the required initial payment to your new insurance company. As soon as you have the new policy, store the certificate verifying proof of insurance in an accessible location in your vehicle.
One thing to point out is to try to compare similar deductibles and liability limits on every quote request and and to get price quotes from as many car insurance companies as possible. Doing this helps ensure an accurate price comparison and the best price quote selection.
If you currently have insurance, you will most likely be able to get lower rates using the ideas presented in this article. Finding the cheapest insurance coverage in Cleveland is actually quite easy if you know where to start. But Ohio vehicle owners need to learn how companies market insurance on the web and take advantage of how the system works.
Smart Consumers Save Every Year
When buying insurance it’s important to understand the rating factors that help calculate your insurance rates. When you understand what influences your rates, this empowers consumers to make smart changes that could help you find big savings.
Cheaper rates using alarm systems – Purchasing a vehicle that has an advanced theft prevention system can help lower your rates. Anti-theft features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can help prevent your vehicle from being stolen.
Marriage discount – Being married helps lower the price on your insurance bill. It means you’re more mature and insurance companies reward insureds because married couples file fewer claims.
Do you work long hours in a high stress occupation? – Jobs like military personnel, police officers, and stock brokers are shown to have higher premiums than the average policyholder because of intense work situations and extremely grueling work hours. On the flip side, occupations like actors, historians and retirees generally pay rates lower than average.
Little extras can really add up – There are a ton of extra coverages that can waste your money if you aren’t careful. Insurance for replacement cost coverage, towing, and extra life insurance coverage could be just wasting money. These may sound like a good investment when you first buy your policy, but your needs may have changed so eliminate them to save money.
Teen driver insurance premiums – Older, more experienced drivers are more cautious drivers, file fewer claims, and are safer drivers. Inexperience drivers have a tendency to be less responsible in a vehicle and because of this, their insurance rates are much higher.
The data below is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.
Insurance loss statistics a Cadillac CTS-V – Car insurance companies use past loss statistics for each vehicle to determine a price that will be profitable for them. Vehicles that statistically have higher prevalence or dollar amount of losses will cost more to insure.
The table below demonstrates the historical loss data for Cadillac CTS-V vehicles. For each insurance policy coverage type, the statistical loss for all vehicles combined as an average equals 100. Percentage values below 100 suggest a positive loss record, while values that are above 100 show a trend for more claims or an increased likelihood of larger losses.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Cadillac CTS-V 2dr | 174 | 74 | 135 |
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
To find affordable Cleveland car insurance quotes, there are several ways to compare quotes from all the different companies. The best method to compare Cadillac CTS-V insurance prices is simply to get online rate quotes.
Getting free rates online is quite simple, and it takes the place of having to spend time driving to different Cleveland agent offices. Comparing Cadillac CTS-V insurance rates online has reduced the need for local agents unless you’re the type of person who wants the trained advice that can only be provided by a licensed insurance agent. It is possible with some companies comparison shop online and still use a local agent.
Keep in mind that comparing a wide range of rates helps you find the best rates. Not every company provides rate quotes online, so it’s important to also get quotes from them as well.
The companies in the list below have been selected to offer free quotes in Cleveland, OH. In order to find cheaper auto insurance in Cleveland, OH, it’s highly recommended you click on several of them to get the most affordable price.
Data for Cadillac CTS-V insurance
The data table displayed next showcases estimates of policy rates for Cadillac CTS-V models. Learning more about how auto insurance prices are calculated can assist in making smart choices when purchasing an auto insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| CTS-V | $230 | $514 | $186 | $10 | $56 | $996 | $83 |
| Get Your Own Custom Quote Go | |||||||
Data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Premium amounts do not factor in vehicle location which can raise or lower insurance rates significantly.
Impact of careless driving on Cleveland insurance rates
The chart below illustrates how violations and accident claims can influence Cadillac CTS-V yearly insurance costs for different age groups. The premiums are based on a married male driver, full coverage, $250 deductibles, and no additional discounts are factored in.
Should you buy full coverage?
The example below illustrates the comparison of Cadillac CTS-V insurance prices with and without full coverage. The premiums are based on no driving violations, no at-fault accidents, $1,000 deductibles, drivers are single, and no discounts are taken into consideration.
Should you buy full coverage or liability only?
There is no exact formula that is best for determining when to drop comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of having full coverage is 10% or more of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
For example, let’s pretend your Cadillac CTS-V book value is $8,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company will settle for is $7,000 after you pay the deductible. If premiums are more than $700 a year for comprehensive and collision coverage, then you might want to consider buying only liability coverage.
There are some circumstances where buying only liability insurance is not financially feasible. If you still have a lienholder on your title, you must maintain physical damage coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should keep full coverage.
Why you need auto insurance
Even though Cleveland CTS-V insurance rates can get expensive, insurance is mandatory in Ohio but it also protects more than you think.
- Almost all states have compulsory liability insurance requirements which means it is punishable by state law to not carry a minimum amount of liability in order to drive the car legally. 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 your CTS-V has a loan, almost all lenders will force you to have physical damage coverage to guarantee their interest in the vehicle. If you do not pay your insurance premiums, the bank or lender will purchase a policy for your Cadillac at a much higher rate and require you to pay much more than you were paying before.
- Insurance safeguards your vehicle and your assets. It will also reimburse you for most medical and hospital costs for you, any passengers, and anyone injured in an accident. One policy coverage, liability insurance, will also pay to defend you if someone files suit against you as the result of an accident. If your Cadillac gets damaged, your auto insurance policy will pay to restore your vehicle to like-new condition.
The benefits of insuring your car are definitely more than the cost, particularly if you ever have a claim. According to a survey of 1,000 drivers, the average driver overpays more than $825 a year so it’s recommended you shop around at least once a year to make sure the price is not too high.
Lower-cost Cadillac CTS-V insurance quotes in Cleveland
Some providers don’t necessarily list the entire discount list very clearly, so the following is a list of a few of the more well known and also the more inconspicuous ways to save on car insurance. If you do not check that you are getting every discount you qualify for, you may be paying too high a price.
- Smart Student Discounts – Performing well in school can save 20 to 25%. This discount can apply well after school through age 25.
- Theft Deterrent – Anti-theft and alarm system equipped vehicles are less likely to be stolen and will save you 10% or more on CTS-V insurance in Cleveland.
- Student Discount for Driver Training – It’s a good idea to have your young drivers successfully complete driver’s ed class in school or through a local driver safety program.
- Switch and Save Discount – A few car insurance companies give discounts for switching to them early. It could save around 10% when you buy Cleveland car insurance online.
- Drive Safe and Save – Drivers who avoid accidents may receive a discount up to 45% than drivers with accident claims.
- Driving Data Discount – Insureds who allow driving data submission to analyze their driving habits by installing a telematics device like Drivewise from Allstate or In-Drive from State Farm might get better premium rates as long as the data is positive.
- Seat Belts Save more than Lives – Drivers who always wear seat belts and also require passengers to buckle up before driving can save 10% or more on the medical payments or PIP coverage costs.
- Pay Now and Pay Less – By making one initial payment rather than spreading payments over time you may have a lower total premium amount.
One thing to note about discounts is that most discount credits are not given to your bottom line cost. Most cut the price of certain insurance coverages like liability, collision or medical payments. So when the math indicates all the discounts add up to a free policy, companies wouldn’t make money that way.
The diagram below illustrates the difference between Cadillac CTS-V yearly insurance costs with and without discounts applied to the policy premium. The data is based on a female driver, no claims or violations, Ohio state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, multi-car, homeowner, safe-driver, and multi-policy discounts applied.
Car insurance companies who might offer some of the above discounts include:
If you are trying to find low cost Cleveland car insurance quotes, ask all the companies which credits you are entitled to. All car insurance discounts might not be offered in your state. To locate car insurance companies that offer multiple discounts in Cleveland, click this link.
Can’t I compare prices from local Cleveland insurance agencies?
Some consumers just prefer to get professional advice from a licensed agent and often times that is recommended An additional benefit of comparing rates online is the fact that drivers can get cheap rate quotes and still choose a local agent.
By using this quick form, your insurance coverage information is transmitted to insurance agents in Cleveland that can provide free Cleveland car insurance quotes and help you find cheaper coverage. There is no reason to find an agent since price quotes are sent instantly to you. You can find better rates without having to waste a lot of time. In the event you want to compare prices from a particular provider, just navigate to their website and give them your coverage information.
Selecting an provider requires you to look at more than just the bottom line cost. Here are some questions to ask:
- How many companies do they write for?
- Is vehicle mileage a factor when determining depreciation for repairs?
- If you raise deductibles, how much can you save?
- If your car is in the repair shop, do you have coverage for a rental car?
- Are all drivers listed on the coverage quote?
- Does the agency have a positive business rating?
- Do they offer accident forgiveness?
Multiple types of car insurance agents in Cleveland
If you want to buy car insurance from a reliable insurance agent, you need to know there are two different types of agencies from which to choose. Insurance agencies in Cleveland can either be exclusive agents or independent agents.
Exclusive Insurance Agents
Agents that elect to be exclusive generally can only insure with one company such as AAA, Allstate, and State Farm. These agents are not able to compare other company’s rates so keep that in mind. They are trained well on what they offer and that enables them to sell even at higher rates.
The following is a short list of exclusive insurance agents in Cleveland that can give you price quotes.
Robin Gorman – State Farm Insurance Agent
16812 Chagrin Blvd – Shaker Heights, OH 44120 – (216) 283-0080 – View Map
Farmers Insurance – Earl Soroka
1621 Euclid Ave #408 – Cleveland, OH 44115 – (216) 452-0885 – View Map
Allstate Insurance: Teresa C. Paez
15105 Puritas Ave – Cleveland, OH 44135 – (216) 362-6526 – View Map
Independent Agents
Agents in the independent channel are not employed by one company and that enables them to quote your coverage through lots of different companies and get the cheapest rates. To transfer your coverage to a different company, they simply switch companies in-house and you don’t have to do anything.
If you are trying to find cheaper rates, you definitely need to get quotes from several independent insurance agents to maximize your price options.
Shown below are Cleveland independent agencies who can help you get price quote information.
Washington and Co Insurance Agency Inc
10535 St Clair Ave – Cleveland, OH 44108 – (216) 761-1500 – View Map
Insurance Consultants Agency
23980 Chagrin Blvd – Cleveland, OH 44122 – (216) 766-6300 – View Map
Machor Sage Insurance Agency
7379 Pearl Rd # 5 – Cleveland, OH 44130 – (440) 826-0404 – View Map
After you get positive feedback to any questions you may have as well as a affordable price, you may have just found an insurance agent that is a good match to insure your vehicles. But keep in mind you are entitled to terminate your policy for any reason so don’t think that you’re stuck with the car insurance policy with no way out.
When should I discuss my situation with an agent?
When selecting coverage, there really is not a perfect coverage plan. You are unique and your car insurance should unique, too.
For instance, these questions can aid in determining whether your personal situation could use an agent’s help.
- Do I get a pro-rated refund if I cancel my policy early?
- Which is better, split liability limits or combined limits?
- Is a driver training discount available?
- What are the financial responsibility laws in my state?
- How much liability coverage do I need in Ohio?
- What is an SR-22 filing?
- Why is insurance for a teen driver so high in Cleveland?
- Does car insurance cover theft of personal property?
- Are my friends covered when driving my Cadillac CTS-V?
- What is PIP insurance?
If you’re not sure about those questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, complete this form or you can go here for a list of companies in your area.
Find cheap car insurance prices by comparing often
We covered many tips how you can lower your Cadillac CTS-V insurance auto insurance rates in Cleveland. The key concept to understand is the more quotes you get, the higher the chance of saving money. You may even find the lowest auto insurance rates are with a company that doesn’t do a lot of advertising. Regional companies may only write in your state and offer lower premium rates as compared to the big name companies such as Progressive and GEICO.
When searching for affordable Cadillac CTS-V insurance quotes, it’s very important that you do not buy less coverage just to save a little money. There are a lot of situations where an accident victim reduced full coverage only to regret they didn’t have enough coverage. The goal is to buy enough coverage for the lowest price, but do not skimp to save money.
For more information, feel free to visit the articles below:
- Rental Car Insurance Tips (Insurance Information Institute)
- Who Has the Cheapest Car Insurance for High Mileage Drivers in Cleveland? (FAQ)
- What Auto Insurance is Cheapest for Used Cars in Cleveland? (FAQ)
- Vehicle Insurance in the U.S. (Wikipedia)
- Event Data Recorders FAQ (iihs.org)
- Understanding Car Crashes Video (iihs.org)
- Teen Driving and Texting (State Farm)