Shockingly, the vast majority of auto insurance customers renewed their policy with the same company for a minimum of four years, and 38% of drivers have never shopped around. Kentucky drivers could pocket up to $631 a year by just shopping around, but they don’t invest the time required to compare rate quotes online.
It takes a little time, but the best way to find cheaper prices for Nissan Versa insurance is to regularly compare quotes from companies in Lexington.
- Read about individual coverages and the measures you can take to drop your rates. Many factors that cause rate increases such as traffic violations, accidents, and an imperfect credit rating can be eliminated by paying attention to minor details. This article provides more details to get affordable coverage and find possible discounts that are available.
- Obtain price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only quote rates from one company like GEICO or Farmers Insurance, while independent agencies can give you price quotes for many different companies. Begin your rate comparison
- Compare the new rates to your current policy premium and see if there is a cheaper rate. If you find a lower rate and change companies, ensure there is no coverage lapse between policies.
- Give proper notification to your current agent or company of your intention to cancel your existing policy. Submit a completed policy application and payment to the new company. Don’t forget to safely store the certificate verifying proof of insurance above your visor, in the console, or in the glove compartment.
A crucial key to this process is that you’ll want to make sure you compare similar coverage information on every quote request and to quote with every insurance company. This enables an accurate price comparison and a complete price analysis.
Detailed insurance information
The coverage table displayed next showcases estimates of insurance costs for Nissan Versa models. Having insight into how rates are determined can help you make informed decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Versa 1.6 SEDAN | $130 | $276 | $342 | $20 | $102 | $870 | $73 |
| Versa 1.8 S Hatchback | $154 | $396 | $342 | $20 | $102 | $1,014 | $85 |
| Versa 1.8 S SEDAN | $154 | $396 | $342 | $20 | $102 | $1,014 | $85 |
| Versa 1.8 SL Hatchback | $176 | $456 | $342 | $20 | $102 | $1,096 | $91 |
| Versa 1.8 SL SEDAN | $176 | $456 | $342 | $20 | $102 | $1,096 | $91 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Price information does not factor in the specific area where the vehicle is garaged which can affect coverage prices significantly.
The information below illustrates how choosing a deductible and can increase or decrease Nissan Versa premium costs for different age categories. The information is based on a married male driver, full coverage, and no discounts are taken into consideration.
Rate difference between full and liability-only coverage
The chart below visualizes the comparison of Nissan Versa premium costs with full physical damage coverage compared to only buying liability only. The premium estimates are based on no claims or violations, $500 deductibles, marital status is single, and no discounts are applied.
When to eliminate full coverage
There is no definitive guideline for dropping physical damage coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is more than about 10% of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your Nissan Versa replacement cost is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $2,000 after paying your deductible. If premiums are more than $200 annually for full coverage, then it may be the right time to buy liability only.
There are a few situations where dropping physical damage coverage is not recommended. If you haven’t satisfied your loan, you must maintain physical damage coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should keep full coverage.
Cut Insurance Costs with These Tips
An important part of buying insurance is that you know the factors that help calculate your car insurance rates. If you know what impacts premium levels, this helps enable you to make changes that can help you get much lower annual insurance costs.
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Tickets drive up prices – Having a clean driving record impacts premiums far more than you think. Attentive drivers pay lower auto insurance prices than their less careful counterparts. Having just one speeding ticket can bump up the cost by as much as thirty percent. Drivers unfortunate enough to have multiple violations such as DWI, reckless driving or hit and run convictions are required to complete a SR-22 with the DMV in their state in order to continue driving.
The illustration below shows how traffic citations and at-fault collisions can affect Nissan Versa insurance premiums for each age group. The rates are based on a single female driver, full physical damage coverage, $500 deductibles, and no policy discounts are applied.
- Your employer and car insurance rates – Do you have a high-stress occupation? Careers like military personnel, social workers, and miners generally have the highest rates in part from high stress and lots of time spent away from family. On the other hand, careers like scientists, engineers and the unemployed have the lowest average rates.
- Small coverages can add up – Insurance companies have many additional extra coverages that can waste your money if you aren’t diligent. Things like personal injury protection, towing coverage, and motor club memberships may not be needed and are just wasting money. The coverages may be enticing when discussing your needs, but if they’re wasting money think about removing them and cutting costs.
- Being married pays dividends – Having a wife or husband may earn you lower rates when buying car insurance. Marriage is viewed as being less irresponsible and it’s statistically proven that married drivers tend to file fewer claims.
- Safer the car lower the rate – Cars with five star safety ratings cost less to insure. Vehicles engineered for safety have better occupant injury protection and lower injury rates means your insurance company pays less and cheaper rates on your policy. If the Nissan Versa scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may be receiving lower rates.
- Lower rates with a multi-policy discount – The majority of insurance companies allow a discount to insureds who consolidate policies with them, otherwise known as a multi-policy discount. Even though this discount sounds good, consumers should still check prices from other companies to help ensure you have the lowest rates.
- Frequent policy claims increase premiums – Auto insurance companies in Kentucky award cheaper rates to drivers who file claims infrequently. If you tend to file frequent claims, you can definitely plan on much higher rates or policy non-renewal. Your insurance policy is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
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Insurance loss data for a Nissan Versa – Auto insurance companies include the past claim history for a vehicle to help determine rates. Vehicles that the data shows to have a trend towards higher claim severity or frequency will have a higher cost to insure.
The next table shows the compiled insurance loss statistics for Nissan Versa vehicles. For each coverage type, the loss probability for all vehicles compiled together is represented as 100. Numbers shown that are under 100 suggest a positive loss record, while numbers that are greater than 100 point to more claims or an increased chance of a larger loss.
Insurance Loss Ratings for Nissan Versa Vehicles Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Nissan Versa 116 110 92 190 203 138 Nissan Versa Note 112 96 85 161 171 133 BETTERAVERAGEWORSEData Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Affordable car insurance rates are possible
As you prepare to switch companies, don’t be tempted to skimp on coverage in order to save money. In many cases, an insured cut physical damage coverage only to find out that it was a big error on their part. Your focus should be to buy enough coverage for the lowest price, but don’t skip important coverages to save money.
We’ve covered a lot of tips how to lower your Nissan Versa insurance auto insurance rates in Lexington. It’s most important to understand that the more times you quote, the higher the chance of saving money. You may even be surprised to find that the most savings is with the least-expected company. Some small companies may often insure only within specific states and give better rates compared to the large companies like Allstate and Progressive.
To read more, feel free to browse the articles below:
- Help Your Teen Be a Better Driver (State Farm)
- Who Has Affordable Car Insurance Quotes for Single Moms in Lexington? (FAQ)
- Who Has Affordable Auto Insurance for Low Mileage Drivers in Lexington? (FAQ)
- Car Insurance FAQ (Trusted Choice)
- How Can I Save Money on Auto Insurance? (Insurance Information Institute)
- Safe Vehicles for Teens (iihs.org)
- Your Car has been Stolen: Now What? (Allstate)