Cheapest 2016 Subaru WRX Insurance Rates in 2024
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UPDATED: Jun 6, 2023
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Want lower car insurance rates for your Subaru WRX? Are you a victim of overpriced car insurance? Trust us when we tell you many consumers feel financially strained by their car insurance policy. Companies like GEICO and Progressive constantly bombard you with TV and radio ads and it is difficult to ignore the propoganda and do the work needed to find the best deal.
If you have a current insurance policy or need a new policy, you can follow these tips to reduce the price you pay while maximizing coverage. Choosing the best insurance company for you is quite easy. Consumers just need to know the most effective way to compare company rates on the web.
Don’t pay full price with these seven discounts
Companies don’t list every discount in a way that’s easy to find, so we break down both well-publicized and the more hidden discounts you could be receiving. If you aren’t receiving every discount you qualify for, you are paying more than you should be.
- Seat Belt Usage – Requiring all passengers to use a seat belt can save 10% or more on the medical payments or PIP coverage costs.
- Organization Discounts – Being a member of certain professional organizations could trigger savings when shopping for car insurance for WRX insurance.
- Military Discounts – Being deployed with a military unit may qualify for rate reductions.
- Safety Course Discount – Taking part in a defensive driving course can save you 5% or more and easily recoup the cost of the course.
- Anti-theft Discount – Vehicles equipped with anti-theft or alarm systems prevent vehicle theft and will save you 10% or more.
- Good Students Pay Less – A discount for being a good student can earn a discount of 20% or more. The discount lasts well after school through age 25.
- Senior Citizens – If you’re over the age of 55, you may be able to get reduced rates for WRX insurance.
It’s important to note that many deductions do not apply to the entire policy premium. Some only apply to the price of certain insurance coverages like liability, collision or medical payments. So when the math indicates having all the discounts means you get insurance for free, it just doesn’t work that way.
For a list of providers offering car insurance discounts, click this link.
Save $385 a year. For real?
Consumers can’t get away from ads that promise big savings by companies like Allstate and Progressive. All the companies have a common claim about savings if you move to them.
How does each company make the same claim? This is how they do it.
All companies are able to cherry pick for the right customer that makes them money. An example of a profitable customer could be a mature driver, a clean driving record, and has a high credit rating. A propective insured who meets those qualifications will qualify for the lowest rates and most likely will cut their rates substantially.
Drivers who are not a match for this ideal profile will have to pay higher premiums which leads to business going elsewhere. The ads say “drivers who switch” not “people who quote” save that much money. That’s the way companies can truthfully make those claims. Because of the profiling, it is so important to get as many comparisons as possible. It’s just too difficult to predict which car insurance company will provide you with the cheapest Subaru WRX insurance rates.
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Your personal situation dictates your coverage
When it comes to buying proper insurance coverage, there isn’t really a perfect coverage plan. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply. For instance, these questions can help discover if your insurance needs would benefit from professional advice.
- What is roadside assistance coverage?
- Are rock chip repairs covered?
- How much liability do I need to cover my assets?
- If my pet gets injured in an accident are they covered?
- Do I need rental car coverage?
- Do I pay less for low miles?
- Am I covered when pulling a rental trailer?
If it’s difficult to answer those questions but one or more may apply to you, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form or you can go here for a list of companies in your area. It’s fast, doesn’t cost anything and can provide invaluable advice.
Auto insurance coverage breakdown
Learning about specific coverages of a auto insurance policy can be of help when determining appropriate coverage and the correct deductibles and limits. Auto insurance terms can be difficult to understand and coverage can change by endorsement. Below you’ll find the usual coverages found on most auto insurance policies.
Uninsured or underinsured coverage
This coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. This coverage pays for injuries to you and your family as well as damage to your Subaru WRX.
Because many people only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
This coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.
Collision coverage pays for things like colliding with another moving vehicle, hitting a mailbox, driving through your garage door, sideswiping another vehicle and damaging your car on a curb. Collision is rather expensive coverage, so you might think about dropping it from older vehicles. Another option is to raise the deductible to get cheaper collision coverage.
Auto liability insurance
Liability insurance can cover injuries or damage you cause to people or other property that is your fault. This insurance protects YOU from legal claims by others. It does not cover damage to your own property or vehicle.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 50/100/50 which means $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000.
Liability can pay for claims such as repair costs for stationary objects, emergency aid and court costs. How much coverage you buy is a decision to put some thought into, but you should buy as much as you can afford.
Medical expense coverage
Medical payments and Personal Injury Protection insurance provide coverage for immediate expenses such as nursing services, rehabilitation expenses and pain medications. They are used to fill the gap from your health insurance program or if you do not have health coverage. It covers all vehicle occupants and will also cover any family member struck as a pedestrian. PIP is not universally available but it provides additional coverages not offered by medical payments coverage
Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims like fire damage, falling objects, a tree branch falling on your vehicle and hitting a bird. The maximum amount a auto insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.
Affordable 2016 Subaru WRX insurance is attainable from both online companies in addition to many insurance agents, so compare prices from both to have the best rate selection. There are still a few companies who do not provide the ability to get a quote online and these small, regional companies work with independent agents.
Throughout this article, we presented some good ideas how you can save on insurance. The key concept to understand is the more companies you get rates for, the higher the chance of saving money. You may be surprised to find that the best prices are with a small local company. These smaller insurers often have lower prices on specific markets than their larger competitors like State Farm and Allstate.
Additional detailed information can be read in the articles below:
- Steps to Take After an Auto Accident (Insurance Information Insitute)
- How Much Auto Coverage do I Need? (Insurance Information Insitute)
- Liability Insurance Coverage (Nationwide)
- Event Data Recorders FAQ (iihs.org)
- Safety Belts FAQ (iihs.org)
Frequently Asked Questions
Should I review my insurance coverage periodically, even if I already have a policy for my Subaru WRX?
Yes, it’s essential to review your insurance coverage periodically, even if you already have a policy for your Subaru WRX. Life circumstances, such as changes in your driving habits, vehicle value, or financial situation, can impact your insurance needs. Additionally, insurance providers may adjust their rates, discounts, or coverage options over time. By reviewing your policy regularly and discussing any changes with your insurance agent, you can ensure that your coverage remains adequate and that you’re taking advantage of any available cost-saving opportunities.
Can I find cheap insurance rates for a Subaru WRX by purchasing insurance solely online?
While purchasing insurance online can be convenient and offer competitive rates, it’s not the only option to find affordable coverage for a Subaru WRX. It’s still valuable to consider working with local insurance agents who can provide personalized advice, help you navigate coverage options, and potentially find discounts specific to your area or circumstances. By exploring both online and offline options, you can maximize your chances of finding cheap insurance rates for your Subaru WRX.
Does my credit score affect the insurance rates for a 2016 Subaru WRX?
Yes, your credit score can impact your insurance rates for a 2016 Subaru WRX. Many insurance companies consider credit-based insurance scores as one of the factors when determining premiums. Studies have shown a correlation between credit history and the likelihood of filing insurance claims. Generally, individuals with better credit scores may receive lower insurance rates compared to those with poor credit. It’s a good idea to maintain a healthy credit score by paying bills on time, reducing debt, and monitoring your credit report for accuracy.
Will modifying my 2016 Subaru WRX affect my insurance rates?
Modifications made to your 2016 Subaru WRX can potentially impact your insurance rates. Insurance companies consider modifications as alterations to the original vehicle’s specifications, which may increase the risk of accidents or theft. Certain modifications, such as engine upgrades or aftermarket parts, can make your vehicle more valuable and potentially costlier to insure. Additionally, modifications that enhance performance may lead to higher premiums due to increased risks associated with speed and aggressive driving.
It’s crucial to inform your insurance provider about any modifications made to your Subaru WRX to ensure proper coverage. Failure to disclose modifications could result in coverage gaps or claim denials. Consider discussing modifications with your insurance agent and comparing quotes from insurers who specialize in insuring modified vehicles.
Can I transfer my insurance policy from my old vehicle to a new 2016 Subaru WRX?
In most cases, you cannot directly transfer an insurance policy from one vehicle to another. When you purchase a new vehicle, you’ll typically need to update your insurance policy to reflect the change. The insurance company will require information about the new 2016 Subaru WRX, including its VIN (Vehicle Identification Number), make, model, and other relevant details. They will then calculate the appropriate premiums based on factors such as the vehicle’s value, safety features, and claims history.
It’s important to notify your insurance provider promptly when acquiring a new vehicle to ensure continuous coverage. Some insurance companies may offer temporary coverage for a newly acquired vehicle, allowing you a short window to update your policy. However, it’s always best to contact your insurance agent or company as soon as possible to properly insure your new Subaru WRX.
How can I lower my insurance rates for a Subaru WRX if I have a limited budget?
If you have a limited budget and want to lower your insurance rates for a Subaru WRX, consider the following options:
- Increase your deductibles: By opting for higher deductibles, you can lower your premiums. However, be prepared to pay more out of pocket in the event of a claim.
- Seek discounts: Explore available discounts from insurance companies, such as safe driver discounts, bundling policies, or installing anti-theft devices. These can help reduce your premiums.
- Maintain a clean driving record: Avoid traffic violations and accidents to maintain a good driving record, as insurers often offer lower rates to drivers with a history of safe driving.
- Consider usage-based or pay-as-you-go insurance: Some insurance companies offer policies based on your actual driving habits, allowing you to pay premiums based on the mileage or time you spend behind the wheel.
- Shop around and compare quotes: Obtain quotes from multiple insurance providers to ensure you’re getting the best possible rate for your Subaru WRX.
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