How to Save on Tampa Cadillac SRX Insurance

It’s safe to assume that insurance companies don’t want you shop around. Drivers who get comparison quotes once a year will, in all likelihood, switch auto insurance companies because there is a significant possibility of finding a lower-cost company. A recent survey revealed that drivers who compared price quotes annually saved over $850 each year compared to policyholders who didn’t regularly shop around.

If finding the best price on Cadillac SRX insurance is why you’re reading this, learning how to find and compare insurance can help you succeed in saving money.

Insurance quote for Cadillac SRX in TampaThe easiest way to save on car insurance rates is to annually compare prices from different companies in Tampa.

  1. Spend some time learning about car insurance and the measures you can control to keep rates in check. Many policy risk factors that result in higher rates such as tickets, at-fault accidents, and a bad credit score can be remedied by making small lifestyle or driving habit changes.
  2. Request price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only provide price estimates from one company like Progressive or Allstate, while independent agencies can quote rates from multiple companies.
  3. Compare the quotes to your current policy to see if you can save by switching companies. If you find a better price and switch companies, ensure there is no coverage lapse between policies.
  4. Notify your company or agent of your intent to cancel your current policy. Submit a completed policy application and payment to the new insurer. As soon as you have the new policy, keep the new proof of insurance certificate in your glove compartment.

A tip to remember is that you’ll want to make sure you compare identical limits and deductibles on every price quote and and to look at as many companies as feasibly possible. This guarantees an apples-to-apples comparison and the best price selection.

Cheap companies for Cadillac SRX insurance in Florida

The following companies provide free rate quotes in Tampa, FL. If you want the cheapest auto insurance in Tampa, we suggest you compare several of them in order to get a fair rate comparison.

Insurance coverage details

The premium table displayed below covers detailed analysis of coverage prices for Cadillac SRX models. Knowing how rates are established is important for making smart choices when comparing insurance rates.

Cadillac SRX Insurance Rates in Tampa, FL
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $368 $702 $430 $26 $128 $1,654 $138
SRX Luxury 2WD $368 $810 $430 $26 $128 $1,762 $147
SRX Luxury AWD $368 $810 $430 $26 $128 $1,762 $147
SRX Performance 2WD $410 $810 $430 $26 $128 $1,804 $150
SRX Performance AWD $410 $810 $430 $26 $128 $1,804 $150
SRX Premium 2WD $410 $810 $430 $26 $128 $1,804 $150
SRX Premium AWD $410 $810 $430 $26 $128 $1,804 $150
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Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Rates do not factor in specific garaging location which can affect premium rates significantly.

Can higher deductibles save money?

A question often asked by Tampa drivers is which deductibles should you choose. The data tables below highlight how much more you’ll pay of buying low and high coverage deductibles. The first rate table uses a $250 physical damage deductible and the second rate table uses a $500 deductible.

Cadillac SRX insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $364 $640 $418 $24 $124 $1,595 $133
SRX Luxury 2WD $364 $736 $418 $24 $124 $1,691 $141
SRX Luxury AWD $364 $736 $418 $24 $124 $1,691 $141
SRX Performance 2WD $406 $736 $418 $24 $124 $1,733 $144
SRX Performance AWD $406 $736 $418 $24 $124 $1,733 $144
SRX Premium 2WD $406 $736 $418 $24 $124 $1,733 $144
SRX Premium AWD $406 $736 $418 $24 $124 $1,733 $144
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Cadillac SRX insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $296 $516 $418 $24 $124 $1,378 $115
SRX Luxury 2WD $296 $594 $418 $24 $124 $1,456 $121
SRX Luxury AWD $296 $594 $418 $24 $124 $1,456 $121
SRX Performance 2WD $330 $594 $418 $24 $124 $1,490 $124
SRX Performance AWD $330 $594 $418 $24 $124 $1,490 $124
SRX Premium 2WD $330 $594 $418 $24 $124 $1,490 $124
SRX Premium AWD $330 $594 $418 $24 $124 $1,490 $124
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Prices do not factor in Tampa location which can modify auto insurance rates significantly.

Based on the data above, we can derive that using a $250 deductible will cost you approximately $20 more each month or $240 each year than opting for the higher $500 deductible. Due to the fact that you would have to pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you tend to have at least 13 months between claim filings, you would probably save some money if you choose the higher deductible.

How to determine if a higher deductible is a good idea

Average monthly premium for $250 deductibles: $142
Average monthly premium for $500 deductibles (subtract): – $122
Monthly savings from raising deductible: $20
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $20
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 13 months

One important note is that raising deductibles results in a higher out-of-pocket expense when you have a claim. You will want to have some savings in the bank in the event you need to pay the deductible to have repairs made.

The chart below shows how choosing a deductible and can raise or lower Cadillac SRX insurance costs for different age groups of insureds. The price estimates are based on a single male driver, comprehensive and collision coverage, and no other discounts are factored in.

Cadillac SRX liability rates compared to full coverage

The chart below shows the difference between Cadillac SRX insurance costs with full physical damage coverage compared to only buying liability only. The rates are based on no violations or claims, $100 deductibles, single status, and no additional discounts are factored in.

When to stop buying physical damage coverage

There is no definitive rule to delete full coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision 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 say your Cadillac SRX replacement value is $6,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company would pay you is $5,000 after you pay the deductible. If you are currently paying more than $500 annually for full coverage, the it may be a good time to stop paying for full coverage.

There are some situations where eliminating full coverage is not recommended. If you still owe money on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should maintain full coverage.

You Can Change Your Insurance Prices

Multiple criteria are part of the equation when you get a price on insurance. Most are fairly basic like an MVR report, but some are more obscure like your continuous coverage or how safe your car is.

The list below includes some of the things companies use to determine your prices.

Higher premiums for specific vocations – Jobs such as military generals, architects, and medical professionals are shown to have higher average rates in part from intense work situations and lots of time spent at work. Other jobs like scientists, students and retirees pay lower than average rates.

Bad driving leads to higher costs – Your driving citation history impacts your car insurance rates tremendously. Just one driving citation can increase rates by as much as thirty percent. Drivers who don’t get tickets receive lower rates as compared to careless drivers. People who have license-revoking violations like reckless driving or DUI may find that they have to to file a proof of financial responsibility form (SR-22) with the DMV in their state in order to continue driving.

The chart below shows how violations and at-fault fender-benders drive up Cadillac SRX insurance costs for different ages of insureds. The premiums are based on a single female driver, full coverage, $250 deductibles, and no discounts are applied.

High comp and collision deductibles save money – Physical damage deductibles define the amount you are required to spend before a claim is paid by your company. Coverage for physical damage, also known as collision and other-than-collision, insures against damage to your car. Examples of covered claims would be a windshield broken by a bird, damage caused by hail, and having a roll-over accident. The higher the amount the insured has to pay upfront, the less your auto insurance will be.

Is insurance coverage cheaper for females or males? – Statistics show women tend to be less risk to insure than men. Now that doesn’t mean females are better at driving than males. Women and men have accidents in similar numbers, but the males have costlier accidents. Men also tend to get higher numbers of serious violations such as DWI and reckless driving. Male teenagers tend to get in the most accidents and thus pay the highest rates.

The chart below visualizes the comparison of Cadillac SRX insurance costs for male and female drivers. The premiums are based on a clean driving record, no at-fault accidents, comp and collision included, $250 deductibles, drivers are single, and no discounts are applied.

Save money with alarms and GPS tracking – Driving a car with a theft deterrent system can help bring down rates. Anti-theft devices such as OnStar, LoJack tracking, and tamper alarms all aid in stopping auto theft.

Lower rates for married couples – Having a significant other may cut your premiums on auto insurance. Having a spouse generally demonstrates drivers are more mature and statistics prove drivers who are married file infrequent claims.

Mature drivers save more – Older, more experienced drivers tend to be more responsible, cause fewer claims and accidents, and receive fewer citations. Inexperience drivers have been known to get distracted easily with other occupants in the car therefore auto insurance rates are much higher.

The following chart assumes a single driver, full coverage with $250 deductibles, and no discounts or violations.

Safer cars mean better prices – Vehicles with good safety scores tend to be cheaper to insure. Highly rated vehicles protect occupants better and fewer serious injuries means less claims paid and cheaper rates on your policy.

Insurance loss probability for a Cadillac SRX – Car insurance companies use past loss statistics for each vehicle to determine a rate that will be profitable for them. Models that the data shows to have higher frequency or amount of claims will cost more for specific coverages.

The table below shows the compiled insurance loss statistics for Cadillac SRX vehicles. For each policy coverage, the claim amount for all vehicles, as an average, is set at 100. Percentage numbers below 100 suggest losses that are better than average, while numbers shown that are more than 100 point to more frequent losses or statistically larger losses.

Insurance Loss Ratings for Cadillac SRX Vehicles
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Cadillac SRX 4dr 2WD 103 101 84 80 82 91
Cadillac SRX 4dr 4WD 109 106 103 78 75 83

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Affordable Tampa auto insurance rates with discounts

Some insurance providers don’t always list every discount they offer very clearly, so the following list contains some of the best known and the more hidden discounts you could be receiving when you buy Tampa car insurance online. If you’re not getting every credit you qualify for, you are paying more than you should be.Auto insurance discounts

Discounts lower rates, but most credits do not apply to your bottom line cost. A few only apply to the cost of specific coverages such as liability and collision coverage. So despite the fact that it appears you can get free auto insurance, it just doesn’t work that way.

The chart below illustrates the difference between Cadillac SRX auto insurance rates with and without discounts. The rate quotes are based on a male driver, a clean driving record, no claims, Florida 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 homeowner, claim-free, multi-policy, safe-driver, marriage, and multi-car discounts applied.

Large auto insurance companies and a partial list of their discounts are:

It’s a good idea to ask every prospective company to give you their best rates. A few discounts may not be available everywhere.

When to contact an insurance agent

A lot of people still prefer to talk to a local agent and that is just fine! Agents are highly skilled in risk management and help submit paperwork. One of the benefits of comparing rates online is you can get lower rates but also keep your business local.

Insurance agents in TampaTo help locate an agent, after submitting this form (opens in new window), your coverage information gets sent to local insurance agents in Tampa that can give you free Tampa car insurance quotes and help you find cheaper coverage. There is no need to search for an agent since rate quotes are delivered directly to you. If you wish to get a price quote for a specific company, you would need to search and find their rate quote page and complete a quote there.

Deciding on an company should depend on more than just the price. Below are some questions you should ask.

Affordable coverage is out there

When buying insurance coverage, you should never sacrifice coverage to reduce premiums. There are too many instances where an accident victim reduced liability limits or collision coverage only to regret that their decision to reduce coverage ended up costing them more. Your goal should be to find the BEST coverage at the lowest possible cost, but do not skimp to save money.

We’ve covered a lot of techniques to shop for Cadillac SRX insurance online. It’s most important to understand that the more companies you get premium rates for, the better chance you’ll have of finding affordable Cadillac SRX insurance quotes. You may even find the best car insurance rates are with an unexpected company. These companies can often insure niche markets at a lower cost compared to the large companies like Allstate and Progressive.

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