It’s an obvious conclusion that insurance companies want to keep you from shopping around. Drivers who get comparison quotes at least once a year will presumably switch to a new company because of the high probability of finding a cheaper policy. A recent survey found that drivers who compared price quotes annually saved over $3,400 over four years compared to other drivers who never shopped for cheaper rates.
If finding the cheapest price for car insurance in New Orleans is your ultimate goal, then having a grasp of the best way to shop and compare cheaper coverage can help simplify the task of finding more affordable coverage.
Truthfully, the best way to get discount auto insurance rates is to compare prices annually from insurers in New Orleans.
- Spend a few minutes and learn about how companies set rates and the things you can control to prevent high rates. Many rating criteria that are responsible for high rates like traffic violations, accidents, and a not-so-good credit rating can be improved by improving your driving habits or financial responsibility.
- Request price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give rate quotes from one company like GEICO or State Farm, while agents who are independent can provide prices for many different companies.
- Compare the quotes to your current policy to see if you can save by switching companies. If you can save some money and switch companies, ensure coverage does not lapse between policies.
One tip to remember is that you’ll want to compare the same level of coverage on every quote request and and to get quotes from as many different companies as possible. This enables a level playing field and plenty of rates choose from.
The Cadillac CTS-V Insurance Premium Equation
One of the most helpful ways to save on car insurance is to to have a grasp of some of the things that help determine car insurance rates. When you know what positively or negatively determines base rates, this empowers consumers to make smart changes that can earn you lower rates. Many things are taken into consideration when premium rates are determined. A few of the factors are predictable like your driving record, but others are more transparent such as your marital status or how financially stable you are.
Certain jobs pay higher rates – Do you have a high-stress occupation? Jobs like fire fighters, social workers, and miners usually pay the highest average rates due to intense work-related stress and incredibly demanding work hours. On the other hand, jobs like farmers, engineers and the unemployed have lower than average premiums.
Do you qualify for a multi-policy discount? – Most larger companies will award discounts to customers that purchase more than one policy. It’s known as a multi-policy discount. Discounts can be 10 percent or more. If you currently are using one company, it’s still a good idea to get quotes from other companies to verify if the discount is saving money. Drivers may still save even more than the discount by insuring with multiple companies.
Improve your credit history and save – Credit score factor in determining what you pay. Drivers with good credit tend to be less risk to insure than drivers with lower credit scores. So if your credit score is low, you may save money insuring your Cadillac CTS-V by taking the time to improve your credit score.
Lower miles equals lower premium – The more you drive annually the more you’ll pay to insure your vehicle. Many insurance companies charge rates based upon how you use the vehicle. Vehicles left parked in the garage get more affordable rates than vehicles that have high annual mileage. Ask your agent if your policy properly reflects the correct driver usage, because it can save money. Incorrect rating for your CTS-V can cost quite a bit.
Cadillac CTS-V claim probability – Insurance companies take into consideration historical loss data for every vehicle when they set coverage costs for each model. Vehicles that historically have a higher amount or frequency of claims will have increased rates. The table below shows the historical insurance loss data for Cadillac CTS-V vehicles.
For each insurance policy coverage type, the statistical loss for all vehicles compiled together is represented as 100. Numbers below 100 suggest losses that are better than average, while numbers shown that are more than 100 indicate a higher chance of having a claim or an increased chance of larger losses than average.
|Vehicle 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
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
The best way to compare policy rates for Cadillac CTS-V insurance in New Orleans is to know most of the bigger providers participate in a system to give rate comparisons. All you need to do is take a few minutes to give details including what your job is, how you use your vehicles, distance driven, and the ages of drivers. That rating information gets transmitted to multiple auto insurance providers and they return rate quotes instantly to find the best rate.
To find lower affordable Cadillac CTS-V insurance rates now, click here and complete the quick form.
The providers in the list below have been selected to offer price comparisons in Louisiana. To locate cheap auto insurance in Louisiana, it’s highly recommended you visit two to three different companies to get the best price comparison.
Rates and information analytics
The table shown below covers a range of insurance prices for Cadillac CTS-V models. Learning as much as possible about how auto insurance policy rates are calculated can help customers make informed decisions when comparing rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Prices based on single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Louisiana minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Rate information does not factor in specific zip code location which can modify coverage prices greatly.
The example below illustrates how your deductible choice and can raise or lower Cadillac CTS-V insurance prices for each age group. The data is based on a single male driver, full physical damage coverage, and no additional discounts are factored in.
Car insurance rates by age and gender in New Orleans
The chart below illustrates the comparison of Cadillac CTS-V auto insurance rates for male and female drivers. The premiums are based on no tickets, no at-fault accidents, comp and collision included, $500 deductibles, single status, and no policy discounts are applied.
Difference between liability only and full coverage rates
The example below visualizes the comparison of Cadillac CTS-V car insurance rates with full physical damage coverage and with liability coverage only. The premiums are based on no claims or driving citations, $100 deductibles, marital status is single, and no discounts are applied.
When to drop full coverage
There is no exact formula of when to eliminate physical damage coverage, but there is a general guideline. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.
For example, let’s say your Cadillac CTS-V settlement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $2,000 after the policy deductible has been paid. If you are paying in excess of $200 a year for full coverage, then you may want to consider only buying liability coverage.
There are a few cases where removing full coverage is not advised. If you haven’t paid off your loan, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.
Auto insurance does more than just repair your car
Even though New Orleans CTS-V insurance rates can get expensive, buying auto insurance may not be optional for several reasons.
- Just about all states have compulsory liability insurance requirements which means it is punishable by state law to not carry specific limits of liability in order to be legal. In Louisiana these limits are 15/30/25 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you bought your CTS-V with a loan, it’s guaranteed your bank will make it a condition of the loan that you have physical damage coverage to guarantee payment of the loan. If you cancel or allow the policy to lapse, the lender may insure your Cadillac at an extremely high rate and force you to pay the higher premium.
- Auto insurance preserves not only your car but also your assets. Insurance will pay for medical bills for you, your passengers, and anyone else injured in an accident. Liability insurance also covers legal expenses in the event you are sued. If damage is caused by hail or an accident, collision and comprehensive coverages will pay to repair the damage.
The benefits of carrying enough insurance are without a doubt worth the cost, especially if you ever need it. An average driver in America overpays as much as $855 a year so compare quotes from several companies each time the policy renews to help ensure money is not being wasted.
Get affordable rates with discounts
Buying car insurance is not cheap, but you can get discounts that you may not know about. Some of these discounts will be visible at quote time, but some may not be applied and must be manually applied prior to receiving the credit.
- Own a Home – Owning your own home or condo can get you a discount because of the fact that having a home is proof that your finances are in order.
- Early Renewal Discounts – Some companies provide a discount for buying a new policy prior to your current CTS-V insurance policy expiring. Ten percent is about the average savings.
- Responsible Drivers – Drivers who avoid accidents may receive a discount up to 45% than their less cautious counterparts.
- Distant Student – College-age children who are attending college and do not have a car could qualify for this discount.
- Bundle and Save – If you insure your home and vehicles with the same company you could earn a discount of 10% to 20% off each policy.
- Federal Employees – Having worked for a branch of the government could provide a small rate reduction with certain companies.
As a sidenote, most credits do not apply to the overall cost of the policy. Most only cut specific coverage prices like liability, collision or medical payments. Just because you may think all those discounts means the company will pay you, it just doesn’t work that way.
The illustration below compares Cadillac CTS-V insurance rates with and without discounts applied to the rates. Data assumes a female driver, a clean driving record, no claims, Louisiana state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, safe-driver, marriage, multi-car, and multi-policy discounts applied.
For a list of insurers that offer some of these discounts in New Orleans, click this link.
Auto insurance quotes from neighborhood New Orleans auto insurance agents
Certain consumers still prefer to go talk to an agent and that is not a bad decision Experienced insurance agents will help you protect your assets and help you file claims. A nice benefit of getting free rate quotes online is that you can find cheap auto insurance rates and still buy from a local agent. And buying from local agencies is important particularly in New Orleans.
Upon completion of this simple form, your insurance coverage information is transmitted to companies in New Orleans who will return price quotes and help you find cheaper coverage. It makes it easy because there is no need to search for any insurance agencies since rate quotes are delivered straight to your inbox. In the event you want to get a price quote from a specific insurance company, don’t hesitate to jump over to their website and submit a quote form there.
Pick the best car insurance agent in New Orleans for you
If you would like to find a good New Orleans insurance agent, you should know the different agency structures that you can choose from. Auto insurance policy providers are considered either exclusive or independent (non-exclusive). Both types can write policy coverage, but it’s important to know why they differ since it can impact the selection process.
Independent Auto Insurance Agents (or Brokers)
Agents of this type are normally appointed by many insurers so they can insure your vehicles with lots of companies and find you the best rates. If premiums increase, your agent can just switch to a different company and that require little work on your part. If you are comparing auto insurance prices, you will definitely want to get several quotes from several independent agencies to get the best comparison.
Shown below is a short list of independent agents in New Orleans that may be able to give you cheap rate quotes.
Agents that elect to be exclusive can usually just insure with one company and some examples include AAA, Allstate, State Farm, or Farmers Insurance. Exclusive agencies are unable to compare rates from other companies so always compare other rates. Exclusive agencies are trained well on the products they sell and that enables them to sell even at higher rates.
Listed below is a list of exclusive insurance agencies in New Orleans that can give you comparison quotes.
Deciding on an auto insurance agent requires you to look at more than just a cheap quote. Here are some questions you might want to ask.
- By raising physical damage deductibles, how much would you save?
- How many years have they been established?
- Do they see any coverage gaps in your plan?
- Where are claims handled?
- What company do they have the most business with?
- Does their agency support local causes in New Orleans?
New Orleans car insurance company ratings
Picking a high-quality auto insurance provider is difficult considering how many different insurance companies sell coverage in Louisiana. The company information shown below could help you decide which auto insurers you want to consider shopping prices with.
Top 10 New Orleans Car Insurance Companies Overall
- Mercury Insurance
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
Top 10 New Orleans Car Insurance Companies by A.M. Best Rank
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
In the end, you can save money
When shopping online for insurance, it’s a bad idea to skimp on coverage in order to save money. There have been many situations where consumers will sacrifice comprehensive coverage or liability limits and discovered at claim time they didn’t have enough coverage. Your focus should be to buy a smart amount of coverage at an affordable rate.
We just showed you many tips how you can compare Cadillac CTS-V insurance car insurance rates in New Orleans. It’s most important to understand that the more you quote New Orleans car insurance, the better chance you’ll have of finding affordable Cadillac CTS-V insurance quotes. Drivers may even discover the best car 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 State Farm, GEICO and Nationwide.
Additional information can be read at these links:
- Self-driving cars won’t replace humans (Insurance Institute for Highway Safety)
- Who Has Cheap New Orleans Auto Insurance for High Mileage Drivers? (FAQ)
- How Much are Auto Insurance Quotes for a Ford F-150 in New Orleans? (FAQ)
- How Much is Car Insurance for a Toyota Camry in New Orleans? (FAQ)
- Who Has Cheap Auto Insurance for Active Military in New Orleans? (FAQ)
- Property Damage Coverage (Liberty Mutual)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
- What to do at the Scene of an Accident (Insurance Information Institute)