How Much Does 2001 Volkswagen GTI Insurance Cost?
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UPDATED: Mar 31, 2020
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Trying to find better car insurance rates? Buyers have lots of choices when searching for low-cost Volkswagen GTI insurance. They can either spend hours calling around to get rate comparisons or save time using the internet to get rate quotes.
There is a better way to compare car insurance rates so we’re going to tell you the proper way to get price quotes for a Volkswagen and locate the lowest price from local insurance agents and online providers.
Elements that influence Volkswagen GTI insurance rates
Consumers need to have an understanding of the factors that go into determining the price you pay for insurance coverage. Understanding what determines base rates allows you to make educated decisions that may reward you with lower insurance coverage prices.
Listed below are a few of the “ingredients” companies use to determine rates.
- Bump up deductibles to save – Your deductibles define the amount you are required to spend out-of-pocket in the event of a claim. Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, insures against damage to your car. Some instances where coverage would apply are running into the backend of another car, vandalism, and windstorm damage. The more money you are required to pay out-of-pocket, the bigger discount you will receive for GTI coverage.
- Multiple policies with one company can save – Many insurance companies give discounts to people who have multiple policies with them such as combining an auto and homeowners policy. Discounts can add up to 10 percent or more. If you currently are using one company, it’s still a good idea to comparison shop to confirm you are receiving the best rates possible.
- Your insurance coverage rates can be influenced by your job – Did you know your occupation can influence how much you pay for insurance coverage? Careers like lawyers, social workers and dentists tend to have the highest average rates due to job stress and lots of time spent at work. Other professions such as farmers, historians and homemakers receive lower rates for GTI coverage.
- A lapse in coverage is a bad thing – Not having insurance is a misdemeanor and insurance coverage companies will penalize you for letting your insurance lapse. And not only will your rates increase, failure to provide proof of insurance may earn you a hefty fine and possibly a revoked license.You may have to prove you have insurance by filing a SR-22 with your state motor vehicle department to get your license reinstated.
- Liability coverage protects you – The liability section of your policy is the coverage that protects you when a court rules you are at fault for damages caused by your negligence. Liability insurance provides you with a defense in court up to the limits shown on your policy. Liability insurance is quite affordable compared to insuring for physical damage coverage, so drivers should carry high limits.
Discounts are available to cut your rates
Car insurance is not cheap, but there could be available discounts that you may not know about. A few discounts will automatically apply at the time you complete a quote, but some must be inquired about in order for you to get them. If you don’t get every credit available, you’re paying more than you need to.
- Defensive Driver – Taking a course teaching defensive driving skills could save 5% or more if your company offers it.
- Employee of Federal Government – Simply working for the federal government may qualify you for a discount for GTI coverage with select insurance companies.
- Auto/Life Discount – Larger companies have a break if you buy auto and life insurance together.
- No Charge for an Accident – A few companies permit an accident before hitting you with a surcharge so long as you haven’t had any claims for a set time period.
- Pay Upfront and Save – If paying your policy premium upfront instead of making monthly payments you could save 5% or more.
- Passive Restraints and Air Bags – Vehicles with factory air bags or motorized seat belts can receive discounts up to 30%.
- Good Student – This discount can get you a discount of up to 25%. Earning this discount can benefit you up until you turn 25.
- 55 and Retired – If you’re over the age of 55, you can possibly qualify for a discount up to 10% for GTI coverage.
- Drivers Ed for Students – Cut your cost by having your teen driver successfully complete driver’s ed class if offered at their school.
It’s important to note that most discount credits are not given to the entire cost. Most cut specific coverage prices like comprehensive or collision. So despite the fact that it appears all the discounts add up to a free policy, companies don’t profit that way. But all discounts will reduce the cost of coverage.
For a list of insurance companies offering car insurance discounts, follow this link.
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Everyone needs different coverages
When choosing the right insurance coverage for your personal vehicles, there is no perfect coverage plan. Each situation is unique.
For example, these questions can help discover if your insurance needs would benefit from an agent’s advice.
- Should I buy more coverage than the required minimum liability coverage?
- Why is insurance for a teen driver so high?
- Does coverage extend to a rental car in a foreign country?
- Does coverage extend to my business vehicle?
- Where can I get insurance after a DUI in my state?
- Do I need special endorsements for business use of my vehicle?
If you’re not sure about those questions but one or more may apply to you then you might want to talk to a licensed agent. If you don’t have a local agent, fill out this quick form. It’s fast, free and can help protect your family.
Detailed coverages of your car insurance policy
Learning about specific coverages of a car insurance policy can be of help when determining the right coverages and proper limits and deductibles. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording.
Medical expense insurance
Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses such as X-ray expenses, EMT expenses, nursing services and hospital visits. The coverages can be utilized in addition to your health insurance policy or if you do not have health coverage. It covers both the driver and occupants in addition to being hit by a car walking across the street. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage
Protection from uninsured/underinsured drivers
This coverage gives you protection from other motorists when they either have no liability insurance or not enough. Covered losses include injuries to you and your family and also any damage incurred to your Volkswagen GTI.
Since many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Normally these coverages do not exceed the liability coverage limits.
Collision insurance covers damage to your GTI resulting from a collision with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision can pay for claims like crashing into a building, crashing into a ditch, colliding with a tree, sideswiping another vehicle and damaging your car on a curb. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. It’s also possible to choose a higher deductible to get cheaper collision coverage.
Coverage for liability
Liability coverage provides protection from damages or injuries you inflict on a person or their property. It protects you from legal claims by others. It does not cover damage sustained by your vehicle in an accident.
Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show policy limits of 100/300/100 which means $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property. Alternatively, you may have a combined single limit or CSL which limits claims to one amount without having the split limit caps.
Liability can pay for things such as attorney fees, legal defense fees, medical expenses and emergency aid. The amount of liability coverage you purchase is up to you, but you should buy as much as you can afford.
Comprehensive (Other than Collision)
This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.
Comprehensive coverage protects against claims like fire damage, hitting a deer, hail damage, falling objects and damage from getting keyed. The most you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
Smart shoppers get results
When you buy insurance online, don’t be tempted to buy poor coverage just to save money. There have been many situations where consumers will sacrifice liability coverage limits only to regret at claim time that their decision to reduce coverage ended up costing them more. The proper strategy is to purchase plenty of coverage at an affordable rate while not skimping on critical coverages.
Lower-priced 2001 Volkswagen GTI insurance is available from both online companies as well as from independent agents, so you should be comparing quotes from both so you have a total pricing picture. There are still a few companies who don’t offer online price quotes and these small insurance companies work with independent agents.
Drivers who switch companies do it for any number of reasons including policy non-renewal, an unsatisfactory settlement offer, delays in paying claims or even poor customer service. Whatever your reason, choosing a new company is pretty easy and you might even save some money in the process.
To learn more, feel free to visit the resources below:
- Steps to Take After an Auto Accident (Insurance Information Insitute)
- Teen Driving Statistics (iihs.org)
- Protecting Teens from Drunk Driving (Insurance Information Insitute)
- Frontal Crash Tests (iihs.org)
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