It’s a known fact that auto insurance companies want to keep your business as long as possible. Insureds who shop rates annually are very likely to switch to a new company because they have good chances of finding a policy with more affordable rates. A recent car insurance study discovered that people who regularly compared price quotes saved $3,500 over four years compared to other drivers who never shopped around for better prices.
If finding the most affordable Cadillac CTS insurance in Raleigh is your intention, then learning a little about how to get free comparison quotes and analyze insurance can save time and money.
The most effective way to get more affordable car insurance rates in Raleigh is to compare prices regularly from insurers in North Carolina.
Step 1: Learn about how companies price auto insurance and the modifications you can make to prevent expensive coverage. Many policy risk factors that increase rates such as inattentive driving and an imperfect credit score can be improved by making minor driving habit or lifestyle changes. Continue reading for tips to help prevent high rates and find overlooked discounts.
Step 2: Quote rates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give prices from one company like Progressive and State Farm, while agents who are independent can provide price quotes for many different companies. Begin your rate comparison
Step 3: Compare the new rate quotes to your current policy premium to see if you can save by switching companies. If you find a lower rate quote and buy the policy, ensure there is no coverage lapse between policies.
The key aspect of shopping around is to compare similar coverage information on every quote and and to get prices from all possible companies. Doing this guarantees a fair price comparison and the best price selection.
How do Insurance Companies Determine Cadillac CTS Insurance Rates?
Lots of factors are taken into consideration when quoting car insurance. Some are pretty understandable like a motor vehicle report, but other factors are less obvious such as your credit history or your financial responsibility.
The higher your credit rating the lower your prices – Credit score is a big factor in determining your rates. Consumers who have high credit ratings tend to be more responsible than drivers with worse credit. If your credit can be improved, you could be paying less to insure your Cadillac CTS if you clean up your credit.
Insure your auto and home with one company – The majority of insurers afford discounts to buyers that have more than one policy such as combining an auto and homeowners policy. Discounts can be ten or even up to twenty percent in some cases. Even if you already get this discount, consumers should still comparison shop to make sure you are getting the best deal. It’s possible to still save money by splitting coverages up.
Type of vehicle determines base rates – The type of vehicle you are trying to find cheaper insurance for makes a huge difference in how high your rates are. Small economy passenger vehicles normally have pretty low rates, but many other things help determine your insurance rates.
The data below uses these assumptions: single female driver age 30, full coverage with $250 deductibles, and no discounts or violations. It compares Cadillac CTS policy rates compared to other models that have a range of performance risks.
Driving citations will cost you – Having just one citation can bump up the cost forty percent or more. Careful drivers pay less for auto insurance compared to drivers with tickets. Drivers unfortunate enough to have severe violations like DWI, reckless driving or hit and run convictions might be required by their state to file a proof of financial responsibility form (SR-22) with their state DMV in order to drive a vehicle legally.
The information below demonstrates how citations and accident claims can increase Cadillac CTS premium costs for different age groups. The data assumes a married female driver, full coverage, $1,000 deductibles, and no discounts are applied.
Drive a safer car and pay less – Safer cars are cheaper to insure. Vehicles engineered for safety reduce injuries and reduced instances of injuries means lower claim amounts and thus lower rates.
Cadillac CTS claim data – Insurance companies analyze claim trends for every vehicle when they set coverage costs for each model. Models that the statistics show to have higher claim amounts or frequency will have increased rates. The table below shows the historical loss data for Cadillac CTS vehicles.
For each coverage type, the claim probability for all vehicles combined as an average is considered to be 100. Numbers below 100 suggest a positive loss record, while percentages above 100 indicate higher probability of having a loss or a tendency for claims to be larger.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Cadillac CTS 4dr 2WD | 123 | 72 | 118 | 73 | ||
| Cadillac CTS 4dr 4WD | 127 | 75 | 98 | 75 | ||
| 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
Car insurance data for a Cadillac CTS
The information below outlines detailed analysis of prices for Cadillac CTS models. Learning a little about how car insurance prices are calculated can be valuable when making smart choices when buying a car insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| CTS AWD | $268 | $560 | $336 | $20 | $100 | $1,284 | $107 |
| CTS | $268 | $560 | $336 | $20 | $100 | $1,284 | $107 |
| CTS Luxury AWD | $268 | $646 | $336 | $20 | $100 | $1,370 | $114 |
| CTS Performance AWD | $268 | $646 | $336 | $20 | $100 | $1,370 | $114 |
| CTS Luxury | $268 | $646 | $336 | $20 | $100 | $1,370 | $114 |
| CTS Performance | $268 | $646 | $336 | $20 | $100 | $1,370 | $114 |
| CTS Sport | $268 | $646 | $336 | $20 | $100 | $1,370 | $114 |
| CTS Premium | $300 | $646 | $336 | $20 | $100 | $1,402 | $117 |
| CTS Premium AWD | $300 | $646 | $336 | $20 | $100 | $1,402 | $117 |
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Price data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Rate quotes do not factor in vehicle garaging location which can decrease or increase premiums noticeably.
Gender differences in car insurance premiums
The illustration below compares Cadillac CTS auto insurance rates for male and female drivers. The data is based on no tickets, no at-fault accidents, full coverage, $1,000 deductibles, marital status is single, and no other discounts are factored in.
Raleigh auto insurance discounts
Some providers do not list every discount very well, so the list below details some of the more common and the harder-to-find credits available to you. If you aren’t receiving every discount you qualify for, you could be getting lower rates.
- Student in College – Youth drivers who are enrolled in higher education away from home and leave their car at home could qualify for this discount.
- Memberships – Affiliation with a professional or civic organization is a simple method to lower premiums on your next auto insurance statement.
- Raleigh Homeowners Discount – Simply owning a home may trigger a policy discount on auto insurance because maintaining a house means you have a higher level of financial diligence.
- 55 and Retired – Mature drivers can get a discount up to 10%.
- Anti-theft System – Vehicles that have factory alarm systems and tracking devices can help prevent theft and that can save you a little bit as well.
You should keep in mind that some credits don’t apply to all coverage premiums. Most cut the price of certain insurance coverages like comp or med pay. So despite the fact that it appears all the discounts add up to a free policy, you aren’t that lucky.
The example below illustrates the comparison of Cadillac CTS insurance rates with and without discounts applied to the policy rates. The information is based on a female driver, no claims or driving citations, North Carolina state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, multi-car, safe-driver, multi-policy, and marriage discounts applied.
To see a list of auto insurance companies who offer online Cadillac CTS insurance quotes in North Carolina, click here.
Car insurance savings summarized
Lower-priced car insurance in Raleigh is definitely available both online and also from your neighborhood Raleigh agents, and you should compare price quotes from both to have the best selection. Some insurance providers do not offer the ability to get a quote online and these smaller companies prefer to sell through independent agents.
People switch companies for many reasons like lack of trust in their agent, high rates after DUI convictions, extreme rates for teen drivers and policy non-renewal. Whatever your reason, finding the right car insurance provider is pretty simple and you could end up saving a buck or two.
While you’re price shopping online, make sure you don’t skimp on coverage in order to save money. Too many times, an insured dropped liability coverage limits to discover at claim time that the small savings ended up costing them much more. Your goal should be to purchase a proper amount of coverage at the best price, not the least amount of coverage.
For more information, feel free to browse these articles:
- Hybrid vehicles cost insurers more (Insurance Institute for Highway Safety)
- Who Has Cheap Auto Insurance for Teenage Females in Raleigh? (FAQ)
- What Auto Insurance is Cheapest for Good Drivers in Raleigh? (FAQ)
- Who Has Cheap Auto Insurance for a Dodge Ram in Raleigh? (FAQ)
- Tools for Teen Driving Safety (State Farm)
- Dangers of fake or stolen airbags (Insurance Institute for Highway Safety)
- Teen Driver Statistics (Insurance Information Institute)
- Vehicle Safety Ratings (iihs.org)