Cheaper 2004 Cadillac SRX Insurance Rates

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: May 12, 2022

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Trying to find lower insurance rates for your Cadillac SRX? Did you fall for a flashy sales pitch and buy high-priced insurance? Believe me when I say you are not the only one feeling buyer’s remorse.

Many insurance companies compete to insure your vehicles, so it can be very hard to choose a insurer to get the best rate

It’s a great practice to shop coverage around occasionally because insurance rates are usually higher with each renewal. Just because you had the lowest rates for SRX insurance a couple years back there may be better deals available now. Forget anything you know (or think you know) about insurance because we’re going to demonstrate the best methods to find better coverage at a better price.

These discounts can lower your rates

Car insurance companies don’t always advertise all their discounts very clearly, so the following is a list of some of the best known and also the lesser-known discounts you could be receiving.

  • Accident Waiver – A few companies permit an accident before raising your premiums if your claims history is clear for a certain period of time.
  • Multi-policy Discount – When you have multiple policies with the same company you could get a discount of 10% to 20% off each policy.
  • Good Student Discount – This discount can earn a discount of 20% or more. Earning this discount can benefit you up to age 25.
  • Drive Less and Save – Fewer annual miles on your Cadillac can qualify you for a substantially lower rate.
  • Homeowners Discount – Owning a house can save you money because maintaining a house shows financial diligence.
  • Accident Free – Drivers with accident-free driving histories can save substantially compared to bad drivers.
  • Passive Restraints – Factory air bags can get savings of up to 25% or more.
  • Pay Upfront and Save – If paying your policy premium upfront instead of monthly or quarterly installments you may reduce your total bill.
  • Paperwork-free – Certain companies will discount your bill up to fifty bucks for buying a policy and signing up over the internet.

It’s important to note that many deductions do not apply the whole policy. Some only reduce individual premiums such as comp or med pay. So despite the fact that it appears adding up those discounts means a free policy, auto insurance companies aren’t that generous.

For a list of companies with discount auto insurance rates, click here.

Cadillac SRX rates are in the details

It’s important that you understand the different types of things that go into determining the rates you pay for insurance coverage. When you know what positively or negatively influences your rates helps enable you to make changes that can help you get better insurance coverage rates.

Listed below are some of the items that factor into your rates.

  • Lower rates with optional equipment – Purchasing a vehicle with an alarm system can get you a discount on your insurance coverage. Anti-theft features like GM’s OnStar, tamper alarm systems and vehicle immobilizers all aid in stopping car theft.
  • Do you have enough liability coverage? – Liability coverage provides coverage if you are found liable for damages caused by your negligence. It provides for a legal defense starting from day one. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so buy as much as you can afford.
  • Rate your vehicle for proper use – The higher the mileage driven in a year’s time the higher your rate. Most companies rate vehicles based on how the vehicle is used. Cars not used for work or commuting qualify for better rates compared to those used for work or business. Ask your agent if your insurance coverage declarations sheet properly reflects the correct usage for each vehicle. If your policy improperly rates your SRX can cost quite a bit.
  • More claims means more premium – If you frequently file small claims, you can expect either higher rates or even cancellation. Car insurance companies give discounts to drivers who do not file claims often. Car insurance is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
  • Mature drivers pay less – Older insureds are viewed as being more responsible, file fewer claims and are safer drivers. Teenage drivers are known to get distracted easily when behind the wheel and because of this, their insurance coverage rates are much higher.
  • Men fork out a little more – The statistics show women are more cautious behind the wheel. Now that doesn’t mean women are better drivers. Men and women are in accidents at a similar rate, but the men tend to have more serious accidents. Men also statistically receive more costly citations such as reckless driving.

Different people need different coverages

When choosing proper insurance coverage for your personal vehicles, there really is no “best” method to buy coverage. Every insured’s situation is different so your insurance needs to address that. For example, these questions could help you determine whether you will benefit from professional help.

  • Am I covered if hit by an uninsured driver?
  • Am I getting all the discounts available?
  • Should I put collision coverage on all my vehicles?
  • I have good health insurance, so how much medical payments coverage do I need?
  • Can my teen driver be rated on a liability-only vehicle?
  • Is upholstery damage covered by car insurance?

If you don’t know the answers to these questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. To find an agent in your area, fill out this quick form or you can go here for a list of companies in your area.

Coverages available on your policy

Understanding the coverages of your policy aids in choosing appropriate coverage for your vehicles. Insurance terms can be impossible to understand and coverage can change by endorsement. Shown next are the normal coverages available from insurance companies.

UM/UIM Coverage

Your UM/UIM coverage provides protection from other motorists when they either have no liability insurance or not enough. It can pay for hospital bills for your injuries and also any damage incurred to your Cadillac SRX.

Because many people carry very low liability coverage limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important.

Liability insurance

This coverage provides protection from damages or injuries you inflict on other people or property by causing an accident. This insurance protects YOU from legal claims by others, and does not provide coverage for your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 25/50/25 which stand for a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and $25,000 of coverage for damaged property.

Liability insurance covers things such as emergency aid, repair bills for other people’s vehicles, bail bonds, attorney fees and legal defense fees. How much coverage you buy is a personal decision, but consider buying higher limits if possible.

Collision coverage protection

Collision insurance will pay to fix damage to your SRX resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.

Collision coverage pays for things such as crashing into a building, hitting a parking meter, driving through your garage door and colliding with another moving vehicle. This coverage can be expensive, so consider dropping it from vehicles that are older. Another option is to choose a higher deductible to bring the cost down.

Medical costs insurance

Coverage for medical payments and/or PIP kick in for expenses for things like funeral costs, EMT expenses, hospital visits and surgery. They are used to cover expenses not covered by your health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants as well as getting struck while a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Comprehensive or Other Than Collision

Comprehensive insurance pays for damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things such as theft, vandalism and hitting a bird. The most a insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

And the best car insurance company is…

While you’re price shopping online, do not skimp on critical coverages to save a buck or two. There are many occasions where someone sacrificed physical damage coverage and discovered at claim time that the small savings ended up costing them much more. The proper strategy is to buy the best coverage you can find for the lowest price while still protecting your assets.

Cheap 2004 Cadillac SRX insurance is definitely available both online as well as from independent agents, so you should be comparing quotes from both to have the best rate selection. There are still a few companies who don’t offer online quoting and usually these small insurance companies provide coverage only through local independent agents.

To learn more, link through to the articles below:

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