Save Money on Dodge Grand Caravan Insurance in Lexington

If saving money is your primary concern, then the best way to get more affordable Dodge Grand Caravan insurance is to start comparing prices yearly from insurers in Lexington. Price quotes can be compared by completing these steps.

Step 1: Gain an understanding of policy coverages and the things you can change to prevent high rates. Many rating factors that cause rate increases such as at-fault accidents, speeding tickets, and a not-so-good credit rating can be eliminated by paying attention to minor details.

Step 2: Compare prices from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give prices from one company like Progressive or Farmers Insurance, while independent agencies can quote rates for many different companies. View insurance agents

Step 3: Compare the new rates to your current policy premium to determine if switching companies saves money. If you find a lower rate quote and buy the policy, make sure there is no lapse in coverage.

Step 4: Provide written notification to your current company of your intent to cancel your current coverage and submit payment and a signed application for your new policy. Immediately safely store the certificate verifying coverage in your glove compartment.

The key thing to remember is that you’ll want to make sure you compare the same coverage limits and deductibles on each quote request and and to compare as many different companies as possible. This provides a fair price comparison and a thorough selection of prices.

It’s an obvious conclusion that car insurance companies want to keep you from shopping around. Drivers who shop around will presumably buy a new policy because there is a good probability of finding better rates. A study showed that people who made a habit of comparing rate quotes saved about $3,400 over four years compared to other drivers who never compared rates.

If saving the most money on auto insurance in Lexington is the reason you’re reading this, then understanding how to choose a company and compare coverage rates can make it easier to find better rates.

If you are insured now or just want to reduce your rates, you can use this information to reduce premiums and still have adequate protection. Locating the best rates in Lexington can be made easier if you know where to look. Smart shoppers only have to learn the proper way to compare insurance rates on the web.

Data for Dodge Grand Caravan insurance

The data table shown next showcases different insurance costs for Dodge Grand Caravan models. Knowing how premiums are figured can be valuable when making decisions when shopping around.

Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Premium amounts do not factor in specific zip code location which can influence coverage prices noticeably.

Policy deductible comparison

One of the more difficult decisions when buying insurance is which comprehensive and collision deductibles to buy. The following tables highlight how much more rates are when you choose different coverage deductibles. The first pricing table uses a $100 physical damage deductible and the second rate chart uses a $500 deductible.

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Rates do not factor in specific garaging location which can impact auto insurance rates noticeably.

Based on the data above, we can derive that using a $100 deductible costs approximately $21 more each month or $252 annually averaged for all Grand Caravan models than opting for the higher $500 deductible. Because you would pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you average more than 19 months between claim filings, you would save money going with the higher deductible. The illustration below shows how we made this calculation.

An important sidenote is that raising deductibles means you will have to pay more when you do file a claim. You must have enough extra savings in the event you have to pay the deductible.

Full coverage or liability only

The example below visualizes the comparison of Dodge Grand Caravan yearly insurance costs with full coverage compared to only the Kentucky minimum liability coverage. The premium estimates are based on a clean driving record, no at-fault accidents, $250 deductibles, single marital status, and no discounts are factored in.

Are you wasting money paying for full coverage?

There is no exact formula for phasing out full coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is more than 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.

For example, let’s pretend your Dodge Grand Caravan claim settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $4,000 after the deductible is paid. If premiums are more than $400 annually to have full coverage, then you might want to think about dropping full coverage.

There are a few situations where only buying liability is not in your best interest. If you haven’t satisfied your loan, you must maintain physical damage coverage to protect the lienholder’s interest in the vehicle. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should keep full coverage.

How You Can Control Dodge Grand Caravan Insurance Rates

Lots of things are used when you quote your car insurance policy. Some are pretty understandable such as your driving record, but other factors are less apparent such as your credit history or how financially stable you are. A large part of saving on auto insurance is knowing a few of the rating criteria that come into play when calculating your auto insurance rates. If you know what influences your rates, this enables informed choices that may reward you with lower auto insurance prices.

• The type of vehicle you drive affects your rates – The performance of the vehicle you need to insure makes a substantial difference in how high your rates are. The lowest base rates are for lower cost passenger vehicles, but there are many factors that impact the final cost.

  The data below is based on a married male driver age 20, full coverage with $250 deductibles, and no discounts or violations. The data compares Dodge Grand Caravan policy rates compared to other makes and models that have different performance rating factors.

• No auto insurance claims equals lower auto insurance rates – If you tend to file frequent claims, you shouldn’t be surprised to get increased rates or even have your policy non-renewed. Auto insurance companies in Kentucky award cheaper rates to drivers that do not abuse their auto insurance. Your car insurance is intended to be relied upon for claims that you cannot pay yourself.
• Vehicles with better crash test results lower premiums – Cars with high safety ratings cost less to insure. Vehicles engineered for safety have better occupant injury protection and reduced instances of injuries translates into fewer and smaller insurance claims and lower rates for you.
• Improve your credit rating and save – Your credit history is a large factor in your rate calculation. Insureds that have high credit ratings tend to be more responsible than drivers with poor credit. Therefore, if your credit could use some work, you could pay less to insure your Dodge Grand Caravan if you clean up your credit.

• Premiums drop with age – Older insureds are proven to be safer behind the wheel, cause fewer claims and accidents, and usually have better credit. Beginning drivers tend to be easily distracted with other occupants in the car so they pay higher auto insurance rates.

  The chart below is based on a single driver, full coverage with $100 deductibles, and no discounts or violations.

• Drive less and get lower costs – The more miles you rack up on your Dodge in a year’s time the more you will pay for auto insurance. A lot of companies rate vehicles partially by how you use the vehicle. Cars and trucks that do not get driven very much receive better premium rates compared to those used for work or business. It’s always a good idea to double check that your policy states the proper vehicle usage. An incorrectly rated Grand Caravan is throwing money out the window.

• Cautious drivers pay less – Being a careful driver influences premium rates substantially. Attentive drivers get better prices than bad drivers. Having just one speeding ticket or other violation may cause rates to rise to the point where it’s not affordable. Drivers with careless violations such as DUI, reckless driving or excessive speeding are required to file a SR-22 with their state DMV in order to legally drive.

  The chart below shows how violations and at-fault collisions influence Dodge Grand Caravan insurance costs for different age categories. The information is based on a married male driver, full coverage, $500 deductibles, and no discounts are factored in.

• Never let your auto insurance policy expire – Having an insurance coverage lapse can be a guaranteed way to trigger a rate increase. In addition to paying higher rates, not being able to provide proof of insurance can result in fines and jail time.

• Insurance losses for a Dodge Grand Caravan – Car insurance companies take into consideration historical loss data for every vehicle to help set a rate to offset losses. Models that the statistics show to have higher losses will have a higher premium rate. The table below demonstrates the historical loss data for Dodge Grand Caravan vehicles.

  For each insurance policy coverage type, the loss probability for all vehicles compiled together equals 100. Values under 100 suggest losses that are better than average, while percentages above 100 show a trend for more claims or an increased chance of a larger loss.

  
  

  Dodge Grand Caravan Insurance Loss Statistics

  Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Dodge Grand Caravan	79	104	81	108	108	107

  BETTER

  AVERAGE

  WORSE

  Statistics from IIHS.org for 2013-2015 Model Years

Find affordable rates by being thorough

The cheapest Dodge Grand Caravan insurance in Lexington is available both online and also from your neighborhood Lexington agents, so get free Lexington auto insurance quotes from both of them to have the best selection. Some companies may not provide online rate quotes and usually these smaller companies prefer to sell through independent insurance agents.

As you go through the steps to switch your coverage, do not reduce coverage to reduce premium. There are too many instances where someone dropped uninsured motorist or liability limits and discovered at claim time that saving that couple of dollars actually costed them tens of thousands. The aim is to get the best coverage possible at the lowest possible cost, not the least amount of coverage.

For more information, link through to the following helpful articles:

• Comprehensive Coverage (Liberty Mutual)
• Who Has Cheap Car Insurance for High Risk Drivers in Lexington? (FAQ)
• How Much are Auto Insurance Rates for Drivers with Bad Credit in Lexington? (FAQ)
• Who Has the Cheapest Lexington Car Insurance Rates for Retired Military? (FAQ)
• How to Avoid Staged Accidents (State Farm)
• What if I Can’t Find Coverage? (Insurance Information Institute)
• Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)
• Pickups fall short in headlight tests (Insurance Institute for Highway Safety)