How Much Does 2006 Dodge Magnum Insurance Cost?
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UPDATED: Jun 12, 2015
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Finding the lowest price for insurance coverage is challenging if you’re new to online quoting. But relax because it’s actually quite easy.
Don’t overlook these discounts
The price of auto insurance can be rather high, buy you may qualify for discounts to help bring down the price. A few discounts will automatically apply when you quote, but some may not be applied and must be specially asked for in order for you to get them.
- Homeowners Pay Less – Owning a home can save you money because owning a home shows financial diligence.
- Good Student Discount – Performing well in school can get you a discount of up to 25%. This discount can apply well after school through age 25.
- Anti-lock Brake Discount – Vehicles with anti-lock braking systems are safer to drive and therefore earn up to a 10% discount.
- Pay Upfront and Save – If you pay your bill all at once instead of making monthly payments you may reduce your total bill.
- Early Signing – Some companies give discounts for signing up prior to your current policy expiring. This can save 10% or more.
- Defensive Driving Course – Taking a course teaching defensive driving skills can save you 5% or more if you qualify.
Keep in mind that most discount credits are not given the whole policy. The majority will only reduce the price of certain insurance coverages like comp or med pay. So even though they make it sound like you can get free auto insurance, it doesn’t quite work that way. Any amount of discount will reduce your overall premium however.
Insurance companies that may offer these money-saving discounts may include but are not limited to:
- Mercury Insurance
- Farmers Insurance
- Auto-Owners Insurance
- Liberty Mutual
Before buying, ask each company how you can save money. Savings may not be available in your state.
Factors that can influence Dodge Magnum insurance rates
Consumers need to have an understanding of the different types of things that go into determining car insurance rates. When you know what positively or negatively influences your rates helps enable you to make changes that can help you get better car insurance rates.
Listed below are some of the items that factor into your rates.
- Multi-policy discounts can save money – The majority of companies give discounts to customers who buy several policies from them such as combining an auto and homeowners policy. Discounts can add up to anywhere from five to ten percent in most cases. Even though this discount sounds good, it’s in your best interest to compare rates to verify if the discount is saving money. Consumers may find a better deal by buying insurance from more than one company.
- Liability coverage is cheap – Liability coverage is the coverage that protects you in the event that you are found to be at fault for damages caused by your negligence. Liability provides for a legal defense which can be incredibly expensive. Liability is cheap when compared with rates for comp and collision, so do not skimp.
- Do you need the policy add-ons? – There are many extra coverages that can waste your money if you aren’t careful. Coverages like roadside assistance, accident forgiveness and motor club memberships are examples of these. These coverages may sound good at first, but if you don’t need them get rid of them and save.
- Your age impacts your rates – Young drivers are known to get distracted easily when driving so car insurance rates are higher. If you’ve ever had to add a young driver onto your car insurance can be quite pricey. More mature drivers are more responsible, file fewer claims and are safer drivers.
- Women pay lower rates – Statistics have proven women tend to be less risk to insure than men. Now that doesn’t mean men are worse drivers. Men and women cause accidents at about the same rate, but the male of the species tend to have more serious accidents. Men also tend to have more aggressive citations like reckless driving and DUI.
- Lower rates with optional equipment – Driving a car with a theft deterrent system can help lower your rates. Theft prevention devices such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all hinder auto theft.
- A clean driving record saves money – Your driving citation history has a huge affect on how much you pay. Drivers with clean records have lower premiums than bad drivers. Only having one citation may increase your cost by twenty percent. Drivers who have serious citations like hit and run, DWI or reckless driving convictions may need to submit a SR-22 form with their state motor vehicle department in order to continue driving.
- Lower miles equals lower premium – The higher the mileage driven each year the more you’ll pay to insure your vehicle. Almost all companies charge to insure your cars determined by how the vehicle is used. Cars left parked in the garage can get a lower rate than those used for commuting. Make sure your car insurance declarations sheet is rated on the correct usage for each vehicle, because it can save money. Incorrect usage on your Magnum can cost quite a bit.
Is my situation unique?
When buying adequate coverage, there really is no “best” method to buy coverage. Every situation is different.
Here are some questions about coverages that might help in determining whether or not you could use an agent’s help.
- Does my car insurance cover rental cars?
- What is no-fault insurance?
- What is medical payments coverage?
- Is borrowed equipment or tools covered if stolen or damaged?
- When do I need to add a new car to my policy?
- Am I covered if I crash into my own garage door?
- Is pleasure use cheaper than using my 2006 Dodge Magnum to commute?
If you’re not sure about those questions but you think they might apply to your situation then you might want to talk to an agent. To find an agent in your area, complete this form.
Information about specific coverages
Learning about specific coverages of your policy helps when choosing which coverages you need for your vehicles. Insurance terms can be difficult to understand and nobody wants to actually read their policy.
This coverage will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive coverage pays for claims like hail damage, a broken windshield, damage from a tornado or hurricane and a tree branch falling on your vehicle. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
Liability auto insurance
Liability insurance protects you from damage that occurs to a person or their property that is your fault. This insurance protects YOU from claims by other people, and does not provide coverage for your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have limits of 25/50/25 which means a $25,000 limit per person for injuries, $50,000 for the entire accident, and property damage coverage for $25,000. Another option is one limit called combined single limit (CSL) which provides one coverage limit rather than limiting it on a per person basis.
Liability coverage pays for things like structural damage, loss of income and attorney fees. How much coverage you buy is your choice, but it’s cheap coverage so purchase higher limits if possible.
Collision coverage protection
Collision insurance will pay to fix damage to your Magnum resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.
Collision can pay for things like driving through your garage door, colliding with a tree, hitting a mailbox and rolling your car. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. It’s also possible to raise the deductible to bring the cost down.
Medical payments coverage and PIP
Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses such as funeral costs, surgery, prosthetic devices, dental work and doctor visits. The coverages can be used to fill the gap from your health insurance policy or if you do not have health coverage. It covers all vehicle occupants as well as being hit by a car walking across the street. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage
Uninsured/Underinsured Motorist coverage
This protects you and your vehicle’s occupants from other drivers when they are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries and damage to your Dodge Magnum.
Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea. Frequently the UM/UIM limits are similar to your liability insurance amounts.
Get your money’s worth
Consumers who switch companies do it for many reasons like being labeled a high risk driver, unfair underwriting practices, policy cancellation or an unsatisfactory settlement offer. No matter why you want to switch, choosing a new insurance company can be pretty painless.
As you go through the steps to switch your coverage, never sacrifice coverage to reduce premiums. Too many times, someone sacrificed liability limits or collision coverage and found out when filing a claim that it was a big error on their part. The aim is to buy a smart amount of coverage at an affordable rate while still protecting your assets.
We covered many ways to reduce 2006 Dodge Magnum insurance prices online. The most important thing to understand is the more providers you compare, the more likely it is that you will get a better rate. You may even find the biggest savings come from a lesser-known regional company.
Even more information can be found in these articles:
- Cellphones, Texting and Driving (iihs.org)
- What are my Rights when Filing a Claim? (Insurance Information Insitute)
- What does Personal Injury Protection (PIP) Cover? (Allstate)
- Distracted Driving Extends Beyond Texting (State Farm)
- Credit and Insurance Scores (Insurance Information Insitute)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Insitute)
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