Lower Your 2016 Cadillac ELR Insurance Rates

Trying to find cheaper insurance coverage rates for your Cadillac ELR? No one likes having to buy insurance coverage, especially knowing they are paying too much. Drivers have multiple insurers to buy insurance from, and though it is a good thing to have a choice, it can be more difficult to compare rates and cut insurance costs.

Pay less by taking advantage of discounts

Companies offering auto insurance do not advertise every available discount very well, so the following is a list of both well-publicized and the harder-to-find savings tricks you should be using. If you don’t get every credit possible, you are paying more than you should be.

  • Auto/Home Discount – If you insure your home and vehicles with the same company you will save up to 20% off your total premium.
  • Drivers Education – Cut your cost by having your teen driver successfully complete driver’s ed class in high school.
  • Drive Safe and Save – Safe drivers may receive a discount up to 45% less on ELR insurance than less cautious drivers.
  • Paperwork-free – Some insurance companies give back up to $50 simply for signing online.
  • Military Rewards – Being on active duty in the military can result in better rates.
  • Own a Home – Owning a house may earn you a small savings due to the fact that maintaining a home shows financial diligence.
  • More Vehicles More Savings – Insuring multiple cars or trucks with the same company qualifies for this discount.
  • Clubs and Organizations – Affiliation with a professional or civic organization could trigger savings when buying auto insurance on ELR insurance.
  • Accident Waiver – A handful of insurance companies will forgive one accident without raising rates as long as you don’t have any claims for a set time period.
  • Federal Government Employee – Simply working for the federal government may qualify you for a discount on ELR insurance with a few auto insurance companies.

Drivers should understand that many deductions do not apply to the entire cost. Most only reduce the price of certain insurance coverages like physical damage coverage or medical payments. So even though they make it sound like you can get free auto insurance, it doesn’t quite work that way.

To see a list of companies with the best auto insurance discounts, click this link.

What determines your Cadillac ELR insurance premium

Consumers need to have an understanding of the rating factors that come into play when calculating auto insurance rates. When you know what positively or negatively influences your rates allows you to make educated decisions that may reward you with better auto insurance rates.

The list below includes a partial list of the pieces companies use to determine rates.

  • Liability coverage is peace of mind – Liability coverage is the protection when a jury decides you are liable for causing damage or personal injury in an accident. Liability insurance provides legal defense coverage up to the limits shown on your policy. Liability insurance is quite affordable when compared with rates for comp and collision, so buy as much as you can afford.
  • Add-on coverages can add up – There are quite a few extra coverages you can purchase on your ELR policy. Insurance for rental car reimbursement, better glass coverage and motor club memberships may be costing you every month. These coverages may sound good initially, but if you don’t need them eliminate the coverages to reduce your premium.
  • Credit scores impact auto insurance rates – Credit score is a important factor in determining your rates. If your credit is lower than you’d like, you could save money insuring your 2016 Cadillac ELR by spending a little time repairing your credit. Drivers who have high credit scores tend to be better drivers and file fewer claims than drivers who have poor credit.
  • Do you have a high stress job? – Occupations such as lawyers, architects and accountants tend to have higher rates than average attributed to job stress and long work days. On the flip side, jobs such as farmers, athletes and the unemployed receive lower rates on ELR insurance.
  • Don’t let your coverage lapse – Driving your car without having proper coverage is illegal and as a result your rates will increase for letting your coverage lapse. And not only will insurance be more expensive, but being ticketed for driving with no insurance might get you a license revocation or jail time.
  • A clean driving record saves money – A bad driving record has a lot to do with how much you pay for insurance. Even one speeding ticket can boost insurance rates by as much as thirty percent. Careful drivers get better rates than bad drivers. If you have serious violations such as reckless driving, hit and run or driving under the influence may find they need to submit a SR-22 or proof of financial responsibility with their state DMV in order to continue driving.
  • One company can mean more discounts – Many companies will give a discount to insureds who have multiple policies with them. It’s known as a multi-policy discount. Discounts can be anywhere from five to ten percent in most cases. Even if you’re getting this discount you still need to comparison shop to confirm you are receiving the best rates possible.
  • Proper usage rating affects rates – The more you drive in a year the more you’ll pay to insure your vehicle. Most insurance companies charge to insure your cars based on how the vehicle is used. Cars used primarily for pleasure use receive lower rates as compared to vehicles used primarily for driving to work. Double check that your auto insurance policy properly reflects the correct driver usage, because improper ratings can cost you money. Incorrect usage on your ELR can cost quite a bit.

Your coverage should be tailored to you

When buying the right insurance coverage, there really is not a “best” method to buy coverage. Each situation is unique so this has to be addressed. Here are some questions about coverages that may help you determine if your insurance needs could use an agent’s help.

  • Is my ex-spouse still covered by my policy?
  • What exactly is covered by my policy?
  • What is PIP insurance?
  • Is business property covered if stolen from my car?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • What is medical payments coverage?
  • Does coverage extend to Mexico or Canada?
  • Do I need motorclub coverage?
  • How can I force my company to pay a claim?
  • I have good health insurance, so how much medical payments coverage do I need?

If you don’t know the answers to these questions but a few of them apply, you may need to chat with an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of insurance companies in your area. It is quick, free and you can get the answers you need.

The fine print in insurance ads

Consumers can’t ignore all the ads that promise big savings by Progressive, Allstate and GEICO. All the companies make an identical promise about savings if you change to their company.

But how can every company make almost identical claims? This is how they do it.

All companies are able to cherry pick for the type of customer that earns them a profit. A good example of a desirable insured might be profiled as over the age of 50, has no tickets, and has excellent credit. A propective insured who meets those qualifications gets the lowest rates and therefore will save a lot of money.

Potential insureds who do not match this ideal profile will have to pay more money which leads to business not being written. The ad wording is “people who switch” not “people who quote” save money. That’s why insurance companies can state the savings. Because of the profiling, drivers must compare as many rates as you can. It is impossible to predict which company will fit your personal profile best.

Parts of your insurance policy

Knowing the specifics of a insurance policy can help you determine the right coverages and proper limits and deductibles. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording. These are typical coverages found on most insurance policies.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance reimburse you for bills for things like chiropractic care, prosthetic devices and pain medications. They are used to cover expenses not covered by your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants as well as any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Comprehensive coverages

This will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things such as hitting a bird, damage from a tornado or hurricane, falling objects and damage from getting keyed. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Auto collision coverage

This coverage pays for damage to your ELR resulting from colliding with another car or object. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against things like crashing into a building, backing into a parked car, rolling your car and damaging your car on a curb. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from lower value vehicles. Drivers also have the option to raise the deductible in order to get cheaper collision rates.

Uninsured and underinsured coverage

Your UM/UIM coverage provides protection when other motorists either have no liability insurance or not enough. Covered claims include injuries to you and your family and also any damage incurred to your Cadillac ELR.

Because many people carry very low liability coverage limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Auto liability insurance

This coverage provides protection from injuries or damage you cause to a person or their property. This coverage protects you against other people’s claims. Liability doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see values of 100/300/100 that means you have a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and $100,000 of coverage for damaged propery.

Liability insurance covers claims such as repair costs for stationary objects, attorney fees, funeral expenses and medical services. How much liability should you purchase? That is a decision to put some thought into, but consider buying as large an amount as possible.

One last thing

Lower-priced 2016 Cadillac ELR insurance can be found online in addition to many insurance agents, and you should be comparing both to get a complete price analysis. Some insurance providers do not provide online price quotes and many times these small insurance companies only sell through independent insurance agents.

We just showed you some good ideas how to shop for insurance online. The key concept to understand is the more companies you get rates for, the better likelihood of reducing your rate. You may even find the best prices are with a small local company. Some small companies may often insure only within specific states and give getter rates compared to the large companies like State Farm or Progressive.

Additional insurance information can be read at these links: