Best Ways to Save on Nashville Cadillac CTS-V Insurance

Insurance quote for Cadillac CTS-V in NashvilleIt’s easy to assume that car insurance companies don’t want you to compare rates. Consumers who shop around for the cheapest rate are likely to switch auto insurance companies because they stand a good chance of finding good coverage at a lower price. A study showed that drivers who compared rates once a year saved over $3,450 over four years compared to drivers who never shopped for cheaper rates.

If finding low prices for insurance in Nashville is your intention, knowing the best way to shop and compare insurance rates can help make the process easier and more efficient.

Truthfully, the best way to find affordable quotes for Cadillac CTS-V insurance in Nashville is to start comparing prices regularly from insurers in Tennessee. Price quotes can be compared by following these guidelines.

  1. Spend some time learning about how insurance companies determine prices and the measures you can take to lower rates. Many policy risk factors that cause rate increases such as speeding tickets, accidents and poor credit history can be rectified by paying attention to minor details. This article provides the details to find cheap rates and get additional discounts.
  2. Get rate quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only provide price estimates from one company like Progressive or Farmers Insurance, while agents who are independent can provide price quotes from multiple companies.
  3. Compare the new rate quotes to your existing coverage and determine if there is any savings. If you find better rates, make sure there is no lapse between the expiration of your current policy and the new one.
  4. Tell your current agent or company of your intention to cancel your current car insurance policy. Submit a completed policy application and payment for the new policy. Make sure you store the certificate verifying proof of insurance with your registration paperwork.

The key thing to know about shopping around is that you’ll want to compare identical deductibles and limits on each price quote and and to analyze as many companies as feasibly possible. Doing this enables an apples-to-apples comparison and maximum price selection.

If you’re already insured or want to find a cheaper company, you will benefit by learning to find the best rates without reducing protection. Locating the best rates in Nashville is quite easy. Drivers just need to understand the most effective way to shop on the web.

The most recommended method to compare insurance rates from multiple companies is to know the trick all the major auto insurance companies participate in a system to compare rate quotes. All consumers are required to do is give them some information such as if you lease or own, what you do for a living, if you’re married, and how old drivers are. The data is instantly sent to insurance companies and you receive quotes very quickly.

To start a quote now, click here and find out if you can get cheaper insurance in Nashville.

The providers in the list below offer price comparisons in Nashville, TN. To buy the best car insurance in TN, we recommend you get prices from several of them to get the best price comparison.

Cadillac CTS-V insurance statistics and information

The data table shown next showcases different coverage prices for Cadillac CTS-V models. Having a better idea how insurance policy rates are formulated can assist in making smart buying decisions.

Cadillac CTS-V Insurance Rates in Nashville, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CTS-V $338 $644 $246 $14 $74 $1,316 $110
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-policy, and multi-vehicle. Rate quotes do not factor in vehicle garaging location which can change auto insurance rates noticeably.

Higher deductibles lower rates

When buying insurance, a common question is at what level do you set your deductibles. The following insurance rates sum up the differences in price between high and low coverage deductibles. The first set of rates uses a $100 deductible for comprehensive and collision coverage and the second rate table uses a $500 deductible.

Cadillac CTS-V insurance premium rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CTS-V $376 $768 $246 $14 $74 $1,503 $125
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Cadillac CTS-V insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CTS-V $274 $520 $246 $14 $74 $1,128 $94
Get Your Own Custom Quote Go

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, multi-vehicle, and safe-driver. Premium costs do not factor in garaging location in Nashville which can impact insurance rates considerably.

Based on the figures above, using a $100 deductible will cost in the ballpark of $31 more each month or $372 each year averaged for all CTS-V models than opting for the higher $500 deductible. Since the policyholder would be required to pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you normally go more than 13 months between claim filings, you would save more money by selecting a higher deductible.

How to calculate if a higher deductible is a good decision

Average monthly premium for $100 deductibles: $125
Average monthly premium for $500 deductibles (subtract): – $94
Monthly savings from raising deductible: $31
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $31
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 13 months

One thing to be aware of is that increasing deductibles to lower your rates results in more money out-of-pocket when you file a claim. That will require some available funds in the event you need to pay the deductible for vehicle repair.

Rate comparison of men versus women

The diagram below shows the difference between Cadillac CTS-V insurance premiums for male and female drivers. The rates are based on no claims or driving citations, comprehensive and collision coverage, $500 deductibles, marital status is single, and no other discounts are factored in.

Cadillac CTS-V full coverage rates compared to liability only

The diagram below visualizes the comparison of Cadillac CTS-V auto insurance rates with full coverage compared to only the Tennessee minimum liability coverage. Data assumes a clean driving record, no claims, $250 deductibles, single status, and no discounts are applied.

When to stop buying comprehensive and collision coverage

There isn’t a steadfast formula of when to eliminate comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is 10% or more of the settlement you would receive from your company, then it might be time to consider dropping full coverage.

For example, let’s assume your Cadillac CTS-V settlement value is $9,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $8,000 after the policy deductible has been paid. If you are currently paying more than $800 annually for physical damage coverage, then it might be time to buy liability only.

There are some situations where removing full coverage is not advised. If you still owe a portion of the original loan, you have to carry full coverage to protect the lienholder’s interest in the vehicle. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should keep full coverage in place.

Choosing vehicle insurance is an important decision

Despite the fact that car insurance is not cheap in Nashville, buying car insurance is required in Tennessee but also provides important benefits.

The benefits of having insurance definitely exceed the cost, particularly for liability claims. On average, a vehicle owner in Nashville is overpaying over $700 annually so you should quote and compare rates each time the policy renews to ensure rates are competitive.

How Car Insurance Companies Determine Cadillac CTS-V Insurance Premiums

Multiple criteria are considered when quoting car insurance. Some of the criteria are obvious such as your driving record, but other criteria are more transparent such as whether you are married or your vehicle rating.

Safety first – Cars with five star safety ratings get lower rates. Safe vehicles protect occupants better and lower rates of occupant injuries translates into fewer and smaller insurance claims and thus lower rates.

Save money with alarm systems – Purchasing a vehicle with an alarm system can get you a discount on your auto insurance. Anti-theft features like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all help stop auto theft and help lower rates.

Costs increase with policy add-ons – Policies have add-on coverages that may not really be needed if you aren’t careful. Things like rental car coverage, death and dismemberment, and additional equipment coverage are probably not needed. They may seem like a good idea when you first buy your policy, but your needs may have changed so remove them from your policy.

Youthful driver insurance premiums – Teen drivers in Tennessee tend to be easily distracted with other occupants in the car and because of this, their auto insurance rates are much higher. Older drivers are more responsible, file fewer claims, and get fewer tickets.

The following data uses these variables: single driver, full coverage with $100 deductibles, and no discounts or violations.

Lower rates with a multi-policy discount – Lots of insurance companies give better rates to insureds that buy multiple policies, otherwise known as a multi-policy discount. Even if you already get this discount, drivers will still want to compare Cadillac CTS-V rates in Nashville to guarantee you are still saving the most. Drivers may still save money by buying from different companies

Cadillac CTS-V claim probability – Insurance companies include the past claim history for a vehicle in order to profitably underwrite each model. Models that the data shows to have higher prevalence or dollar amount of losses will have a higher cost to insure. The next table shows the historical insurance loss data for Cadillac CTS-V vehicles.

For each type of coverage, the statistical loss for all vehicles, regardless of make, model or trim level, is set at 100. Values below 100 represent a good loss history, while percentage numbers above 100 indicate more frequent losses or tendency to have higher losses.

Insurance Loss Ratings for Cadillac CTS-V Vehicles
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
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

More effort can pay off

Some insurance companies do not provide the ability to get a quote online and usually these smaller companies only sell through independent agencies. The cheapest Cadillac CTS-V insurance in Nashville is available on the web in addition to many Nashville insurance agents, so you should be comparing quotes from both in order to have the best chance of saving money.

You just learned a lot of information how to compare Cadillac CTS-V insurance rates in Nashville. The most important thing to understand is the more times you quote, the higher the chance of saving money. You may even be surprised to find that the lowest priced insurance comes from a lesser-known regional company. Some small companies may have significantly lower car insurance rates on certain market segments as compared to the big name companies such as State Farm and Allstate.

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