Inconceivable but true, a large majority of auto insurance policyholders in Ohio have remained with the same auto insurance company for over three years, and roughly 40% of drivers have never compared rate quotes at all. With the average premium in the U.S. being $1,847, drivers could save themselves about $850 a year by just comparing quotes, but most tend to underestimate the rate savings if they bought a different policy.
The recommended way to get more affordable Dodge Charger insurance is to regularly compare quotes from providers who can sell car insurance in Cincinnati.
First, gain an understanding of the coverage provided by your policy and the steps you can take to drop your rates. Many risk factors that result in higher prices like traffic citations and a less-than-favorable credit history can be amended by making minor changes in your lifestyle. Later in this article we will cover tips to prevent rate hikes and get bigger discounts that may have been overlooked.
Second, request rate estimates from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give prices from one company like GEICO and Allstate, while independent agencies can give you price quotes from multiple sources.
Third, compare the new quotes to your existing policy and see if there is a cheaper rate. If you find a lower rate quote and decide to switch, ensure coverage does not lapse between policies.
Fourth, notify your company or agent of your decision to cancel your current coverage and submit payment and a signed application to the newly selected company. As soon as you receive it, put the certificate of insurance somewhere easily accessible.
A key point to remember is to try to use the same liability limits and deductibles on every price quote and and to compare as many companies as feasibly possible. Doing this helps ensure a fair price comparison and many rates to choose from.
Our objective in writing this article is to let you in on how to get online quotes and how you can save the most money. If you already have coverage, you will surely be able to get lower rates using the concepts covered in this article. Consumers just have to know the proper methods to shop for auto insurance online.
Finding a lower price on insurance isn’t really that difficult. The only requirement is to take a couple of minutes to compare rates from online providers.
Getting rates online is very simple and it makes it a waste of time to drive to insurance agents’ offices. Buying insurance online can eliminate the need for a local agent unless you want the extra assistance of an agent trained in personal lines coverage. If you prefer, some companies allow you to price shop your coverage online but purchase the actual policy in an agency.
The companies in the list below can provide free quotes in Ohio. If you wish to find the best auto insurance in Ohio, we recommend you visit several of them to get the best price comparison.
Dodge Charger insurance rates and statistics
The coverage information shown below covers different coverage prices for Dodge Charger models. Learning how auto insurance prices are calculated can help drivers make decisions when choosing a new policy provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Charger 3.5 AWD||$132||$214||$290||$18||$86||$740||$62|
|Charger SXT AWD||$132||$214||$290||$18||$86||$740||$62|
|Charger Rallye AWD||$132||$248||$290||$18||$86||$774||$65|
|Charger R/T AWD||$146||$248||$290||$18||$86||$788||$66|
|Get Your Own Custom Quote Go|
Data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Table data does not factor in the specific area where the vehicle is garaged which can influence rates significantly.
The diagram below highlights how deductible choice and can impact Dodge Charger annual premium costs for each age group. The costs are based on a single female driver, full physical damage coverage, and no discounts are applied.
Cost comparison with and without full coverage
The illustration below illustrates the comparison of Dodge Charger yearly insurance costs with full coverage compared to only the Ohio minimum liability coverage. The prices are based on no accidents, no driving violations, $250 deductibles, drivers are not married, and no discounts are applied to the premium.
Deciding between full coverage and liability only
There is no clear-cut formula of when to drop physical damage coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is more than about 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s assume your Dodge Charger replacement value is $3,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company would pay you is $2,000 after paying the physical damage deductible. If premiums are more than $200 annually for physical damage coverage, then you may need to consider dropping full coverage.
There are some conditions where buying only liability insurance is not a good idea. If you still have a lienholder on your title, you must maintain physical damage coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should keep full coverage.
Why you need insurance for your Charger
Even though it can be expensive, insurance is required in Ohio but also provides important benefits.
First, most states have minimum liability requirements which means you are required to carry specific minimum amounts of liability insurance coverage if you drive a 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.
Second, if your Dodge Charger has a lienholder, almost all lenders will stipulate that you have full coverage to ensure loan repayment if the vehicle is totaled. If you let the policy lapse, the lender may have to buy a policy to insure your Dodge at a much higher premium rate and require you to reimburse them for the much more expensive policy.
Third, insurance safeguards both your Dodge and your personal assets. It also can pay for all forms of medical expenses for yourself as well as anyone injured by you. Liability coverage also covers legal expenses if you are sued as the result of your driving. If you receive damage to your vehicle caused by a storm or accident, your insurance policy will pay to have it repaired.
The benefits of carrying enough insurance definitely exceed the price paid, particularly if you ever have a claim. An average driver in America is wasting up to $750 every year so we recommend shopping around at least once a year to help ensure money is not being wasted.
Dodge Charger Insurance Rate Factors
Consumers need to have an understanding of a few of the rating criteria that play a part in calculating your policy premiums. If you have some idea of what impacts premium levels, this allows you to make good choices that may result in much lower annual insurance costs.
Shown below are some of the most rate-impacting factors used by companies to determine your rate level.
- Do safer cars cost less to insure? – Vehicles that have high safety ratings get lower rates. Highly rated vehicles help reduce the chance of injuries in an accident and better occupant protection translates into savings for insurance companies which can result in lower premiums. If your Dodge Charger scored at minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you are probably receiving a discount.
- Lower rates with a multi-policy discount – Many companies will award better rates to clients who consolidate policies with them. It’s known as a multi-policy discount. The amount of the discounts can be as much as ten percent or more Even if you already get this discount, it’s in your best interest to comparison shop to guarantee you are still saving the most. You may still save even more than the discount by buying insurance from a different company.
- Discounts for theft deterrents – Selecting a car model that has a built-in theft deterrent system can help lower your rates. Theft prevention features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all aid in stopping car theft and help bring rates down.
- Good credit saves on insurance – Having a good credit history factor in calculating your premium rate. Insureds with very high credit ratings tend to file fewer claims and have better driving records than drivers with bad credit. Therefore, if your credit could use some work, you could save money insuring your Dodge Charger by spending a little time repairing your credit.
- Discounts for married couples – Having a significant other may earn you lower rates when buying insurance. Having a spouse means you’re less irresponsible and statistics prove drivers who are married are more cautious.
- Coverage lapses raise prices – Allowing your coverage to lapse will be a sure-fire way to drive up your policy premiums. Not only will you pay more, being ticketed for driving with no insurance can result in fines or a revoked license.
Insurance loss data for a Dodge Charger – Insurers use statistical claims data when they calculate premium prices for each model. Models that tend to have higher claim amounts or frequency will be charged more to insure.
The table below shows the insurance loss data for Dodge Charger vehicles. For each policy coverage type, the claim amount for all vehicles combined as an average is equal to 100. Percentage numbers below 100 represent a good loss history, while values over 100 show a trend for more claims or an increased probability of a larger loss.
Auto Insurance Loss Data for Dodge Charger Models Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Dodge Charger 2WD 148 142 160 176 178 159 Dodge Charger 4WD 124 129 115 107 110 138 Dodge Charger HEMI 156 106 202 118 127 111BETTERAVERAGEWORSE
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
In the end, you can save money
When you buy Cincinnati auto insurance online, make sure you don’t buy poor coverage just to save money. In too many instances, consumers will sacrifice collision coverage and found out when filing a claim that they should have had better coverage. The proper strategy is to purchase a proper amount of coverage at the lowest possible cost.
A few companies do not provide online price quotes and most of the time these regional insurance providers only sell through independent insurance agencies. More affordable insurance in Cincinnati is attainable both online in addition to local insurance agencies, so compare prices from both to get a complete price analysis.
We’ve covered many ways to lower your Dodge Charger insurance prices in Cincinnati. The key thing to remember is the more companies you get rates for, the better chance you’ll have of finding low cost Cincinnati auto insurance quotes. Consumers may even find the lowest prices come from some of the smallest insurance companies. Smaller companies may often insure only within specific states and give better rates than the large multi-state companies such as Allstate and Progressive.
More detailed insurance information is available at these sites:
- Eight Auto Insurance Myths (Insurance Information Institute)
- How Much are Auto Insurance Rates for Young Drivers in Cincinnati? (FAQ)
- How Much are Cincinnati Auto Insurance Rates for 18 Year Olds? (FAQ)
- Who Has the Cheapest Cincinnati Auto Insurance Rates for Retired Military? (FAQ)
- Who Has Cheap Cincinnati Auto Insurance for Teenage Males? (FAQ)
- What Insurance is Cheapest for a Ford F-150 in Cincinnati? (FAQ)
- Who Has the Cheapest Cincinnati Auto Insurance Rates with Multiple Speeding Tickets? (FAQ)
- Rental Reimbursement Coverage (Allstate)
- Insurance losses by make and model (Insurance Institute for Highway Safety)
- Can I Drive Legally without Insurance? (Insurance Information Institute)