Best Cincinnati Cadillac SRX Insurance

Insurance quote for Cadillac SRX in CincinnatiIt’s an obvious conclusion that insurance companies don’t want policyholders to shop around. Insureds who compare other prices will probably switch companies because they have good chances of finding more affordable rates. A recent survey discovered that people who routinely shopped for cheaper coverage saved as much as $860 a year compared to other drivers who never compared prices.

If finding the lowest price for insurance in Cincinnati is your ultimate goal, then knowing how to get free comparison quotes and analyze car insurance can make shopping around easier.

The most effective way to find affordable Cadillac SRX insurance is to start comparing rates regularly from companies who sell insurance in Cincinnati. Rates can be compared by completing these steps.

First, try to comprehend individual coverages and the modifications you can make to keep rates down. Many policy risk factors that result in higher rates like at-fault accidents and a not-so-good credit history can be remedied by making lifestyle changes or driving safer.

Second, compare prices from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only provide price estimates from a single company like GEICO and Allstate, while independent agents can give you price quotes for a wide range of companies.

Third, compare the new rate quotes to your existing coverage and see if there is a cheaper rate. If you find better rates, ensure coverage does not lapse between policies.

One thing to remember is to use the same coverage limits and deductibles on every quote request and and to get rates from every company you can. This helps ensure the most accurate price comparison and the best price quote selection.

Locating the most cost-effective car insurance policy in Cincinnati is much easier if you know where to start. If you currently have car insurance, you will be able to save money using these methods. But Ohio consumers must learn how big insurance companies determine premium rates because it varies considerably.

Just remember that comparing a large number of companies helps increase your odds of locating the best price.

The providers in the list below are ready to provide price comparisons in Cincinnati, OH. If you want to find the best auto insurance in OH, we suggest you compare several of them in order to get a fair rate comparison.

Cadillac SRX insurance rate analysis

The rate table shown below outlines a range of policy rates for Cadillac SRX models. Learning more about how auto insurance prices are formulated can help drivers make smart choices when buying a car insurance policy.

Cadillac SRX Insurance Rates in Cincinnati, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $212 $470 $296 $18 $88 $1,084 $90
SRX Luxury 2WD $212 $540 $296 $18 $88 $1,154 $96
SRX Luxury AWD $212 $540 $296 $18 $88 $1,154 $96
SRX Performance 2WD $236 $540 $296 $18 $88 $1,178 $98
SRX Performance AWD $236 $540 $296 $18 $88 $1,178 $98
SRX Premium 2WD $236 $540 $296 $18 $88 $1,178 $98
SRX Premium AWD $236 $540 $296 $18 $88 $1,178 $98
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Above prices assume single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Prices do not factor in specific zip code location which can increase or decrease auto insurance rates significantly.

How high should deductibles be?

One frequently asked question is where to set your physical damage deductibles. The following insurance rates can help show the difference in cost between high and low coverage deductibles. The first table uses a $250 deductible for comprehensive and collision coverage and the second set of prices uses a $500 deductible.

Cadillac SRX insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $198 $348 $226 $14 $68 $879 $73
SRX Luxury 2WD $198 $400 $226 $14 $68 $931 $78
SRX Luxury AWD $198 $400 $226 $14 $68 $931 $78
SRX Performance 2WD $220 $400 $226 $14 $68 $953 $79
SRX Performance AWD $220 $400 $226 $14 $68 $953 $79
SRX Premium 2WD $220 $400 $226 $14 $68 $953 $79
SRX Premium AWD $220 $400 $226 $14 $68 $953 $79
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Cadillac SRX insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $160 $280 $226 $14 $68 $748 $62
SRX Luxury 2WD $160 $324 $226 $14 $68 $792 $66
SRX Luxury AWD $160 $324 $226 $14 $68 $792 $66
SRX Performance 2WD $180 $324 $226 $14 $68 $812 $68
SRX Performance AWD $180 $324 $226 $14 $68 $812 $68
SRX Premium 2WD $180 $324 $226 $14 $68 $812 $68
SRX Premium AWD $180 $324 $226 $14 $68 $812 $68
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Estimates do not factor in vehicle location which can alter premium rates greatly.

Using the data above, we can ascertain that using a $250 deductible could cost the average driver approximately $11 more each month or $132 every year across all Cadillac SRX models than choosing the higher $500 deductible. Since you would pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you tend to have at least 23 months between claims, you would probably come out ahead by selecting a higher deductible.

How to determine if a higher deductible is a good idea

Average monthly premium for $250 deductibles: $78
Average monthly premium for $500 deductibles (subtract): – $67
Monthly savings from raising deductible: $11
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $11
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 23 months

One thing to be aware of is that raising deductibles to save money means you will have to cover more of the damage yourself when you have a comprehensive or collision claim. It will be required that you have enough disposable income in the event you have to pay the higher deductible.

Impact of speeding/accidents on auto insurance rates

The illustration below demonstrates how traffic citations and at-fault claims can drive up Cadillac SRX premium costs for each different age group. The prices are based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are applied to the premium.

Rate difference between full and liability-only coverage

The illustration below compares Cadillac SRX insurance costs with and without physical damage coverage. The data is based on a clean driving record, no at-fault accidents, $1,000 deductibles, single status, and no policy discounts are applied.

Should you buy full coverage or liability only?

There is no clear-cut formula that is best for determining when to drop comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.

For example, let’s say your Cadillac SRX settlement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $4,000 after paying the physical damage deductible. If premium cost is more than $400 annually for comprehensive and collision coverage, then it might be time to consider dropping full coverage.

There are some circumstances where dropping physical damage coverage is not a good plan. If you still owe money on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage in place.

Cadillac SRX Insurance Price Factors

An important part of buying insurance is that you know the rating factors that come into play when calculating the level of your policy premiums. When you know what positively or negatively determines base rates, this enables informed choices that can help you get lower premium levels.

Auto insurance in Ohio serves several purposes

Despite the high cost, buying auto insurance is required for several reasons.

The benefits of buying auto insurance are without a doubt worth the cost, especially with large liability claims. As of last year, the average driver in Ohio is currently overpaying as much as $855 a year so it’s important to compare rates each time the policy renews to ensure rates are competitive.