How long has it been since you compared more affordable Cadillac Escalade insurance in Phoenix? Did a good deal turn out to be an expensive car insurance policy? It’s quite common and you’re not the only one.
Shockingly, a large majority of consumers have stayed with the same insurance company for at least four years, and almost 40% of drivers have never shopped around. Consumers in Phoenix can save hundreds of dollars each year by just comparing rate quotes, but they don’t invest the time required to compare rate quotes. Online insurance companies like State Farm, GEICO and Farmers Insurance all claim big savings with fancy advertisements and it is challenging if not impossible to separate fact from fiction and effectively compare rates to find the best deal.
Informed Consumers Know How to Buy Auto Insurance for Less
Lots of things are used when you get your auto insurance bill. Some are pretty understandable like your driving record, but some are more transparent such as your marital status or how financially stable you are. A large part of saving on auto insurance is knowing the factors that go into determining your premiums. If you understand what determines premiums, this helps enable you to make changes that could result in big savings.
The itemized list below are some of the most rate-impacting factors used by insurance companies to determine rates.
Gender is a factor – Over the last 50 years, statistics have shown women tend to be less risk to insure than men. That doesn’t necessarily mean that women are better drivers. Females and males have at-fault accidents at a similar rate, but guys get into accidents with more damage. In addition to higher claims, males also receive more major tickets such as driving while intoxicated (DWI) or driving recklessly.
Poor credit decisions can cost you – Having a bad credit history is likely to be a major factor in determining what you pay for auto insurance. Consumers who have excellent credit scores tend to be less risk to insure than those with lower credit ratings. Therefore, if your credit could use some work, you could be paying less to insure your Cadillac Escalade if you improve your credit rating.
Liability coverage – Liability insurance provides coverage if ever you are responsible for an accident. Liability provides legal defense which can be incredibly expensive. This coverage is very inexpensive compared to physical damage coverage, so insureds should have plenty of protection for their assets.
Teen drivers pay higher premiums – Drivers with little experience tend to be easily distracted when driving so they pay higher auto insurance rates. Older insureds are proven to be safer behind the wheel, cause fewer claims and accidents, and get fewer tickets.
High deductibles equal low rates – The deductibles you choose are the amount of money you are willing to pay out-of-pocket if a covered claim is submitted. Protection for physical damage, also called ‘full coverage’, covers damage that occurs to your car. Some instances where coverage would apply are rearending another vehicle, hail damage, and damage caused by road hazards. The higher the amount you are required to pay out-of-pocket, the lower your rates will be.
Incidental coverages can add up – There are a ton of additional extra coverages that may not really be needed on your Escalade policy. Coverages for personal injury protection, better glass coverage, and extra equipment coverage are some examples. They may sound like good ideas when deciding what coverages you need, but if they’re wasting money think about removing them and cutting costs.
Tickets and citations cost more than a fine – Having just one speeding ticket or other violation can increase the cost of insurance to the point where it’s not affordable. Drivers with clean records tend to pay less for car insurance compared to bad drivers. Drivers who get flagrant tickets such as hit and run, DWI or reckless driving convictions may be required to complete a SR-22 with their state’s department of motor vehicles in order to legally drive.
Job stress can make you pay more – Jobs such as real estate brokers, social workers and stock brokers usually pay higher rates than average due to intense work situations and long work hours. On the flip side, professions such as scientists, historians and performers pay the least.
Cadillac Escalade insurance claim data – Companies analyze claim trends for every vehicle to calculate a price that will offset losses. Vehicles that statistically have higher number or severity of losses will cost more to insure. The table below shows the historical loss data for Cadillac Escalade vehicles.
For each type of coverage, the loss probability for all vehicles, regardless of manufacturer or model, is equal to 100. Values that are under 100 suggest losses that are better than average, while percentages above 100 indicate higher probability of having a loss or an increased chance of larger losses than average.
Cadillac Escalade Insurance Loss Statistics
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Cadillac Escalade 4dr 2WD||156||122|
|Cadillac Escalade 4dr 4WD||132||99||119||55|
|Cadillac Escalade ESV 4dr 2WD||124|
|Cadillac Escalade ESV 4dr 4WD||123||106||155|
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Finding a better price on car insurance is pretty simple and can save money. All that’s required is to spend a little time comparing rates to discover which company has affordable Cadillac Escalade insurance quotes.
Getting free quotes online is quite simple, and it replaces the need to drive around to insurance agents’ offices. Buying insurance online makes this unnecessary unless you’re the type of person who wants the professional guidance only provided by licensed Phoenix agents. Although you can comparison shop your insurance online and get advice from an agent in your area.
The companies shown below are ready to provide price quotes in Arizona. If the list has multiple companies, we suggest you visit several of them to get the most affordable price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Escalade Luxury Edition 2WD||$192||$326||$382||$22||$114||$1,036||$86|
|Escalade Premium Edition 4WD||$300||$524||$352||$20||$106||$1,302||$109|
|Escalade Luxury Edition 4WD||$216||$334||$374||$22||$112||$1,058||$88|
|Escalade Premium Edition 2WD||$344||$608||$454||$26||$136||$1,568||$131|
|Escalade Hybrid 2WD||$336||$782||$356||$22||$106||$1,602||$134|
|Escalade Hybrid 4WD||$302||$656||$356||$22||$106||$1,442||$120|
|Escalade Platinum Edition 2WD||$446||$716||$490||$30||$146||$1,828||$152|
|Escalade Platinum Edition 4WD||$286||$484||$374||$22||$112||$1,278||$107|
|Escalade Hybrid Platinum 2WD||$268||$464||$444||$26||$132||$1,334||$111|
|Escalade Hybrid Platinum 4WD||$298||$672||$440||$26||$132||$1,568||$131|
|Get Your Own Custom Quote Go|
Data rating is based on single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Arizona minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Premium costs do not factor in specific garaging location which can influence coverage rates greatly.
The example below illustrates how choosing a deductible and can influence Cadillac Escalade insurance costs for each different age category. The data is based on a single male driver, full physical damage coverage, and no policy discounts are applied.
Rate comparison of male drivers versus female drivers
The illustration below shows the comparison of Cadillac Escalade insurance prices for male and female drivers. The information is based on no claims or driving violations, full physical damage coverage, $1,000 deductibles, single marital status, and no discounts are applied to the premium.
But they said I’d save $425 a year!
Consumers in Arizona can’t get away from ads that claim the cheapest car insurance rates from the likes of Progressive, GEICO, Allstate and State Farm. All the companies try to convey promises that drivers can save some big amount if you just switch your coverage.
But how can every company give you a lower rate on Cadillac Escalade insurance in Phoenix?
All companies give the best rates for the type of customer that earns them the most money. For example, a driver they prefer should be over the age of 45, has had continuous coverage, and drives a car with an anti-theft system. Anybody who matches those parameters will get low rates and is almost guaranteed to cut their rates substantially.
Drivers who are not a match for the requirements will see a more expensive rate with the end result being the customer buying from a different company. The wording the ads use say “drivers that switch” not “everyone who quotes” save that much money. That is how insurance companies can make claims like that. This really illustrates why you need to compare price quotes frequently. Because you never know which insurance companies will give you lower rates than your current company.
Three good reasons to insure your Cadillac vehicle
Despite the high cost, paying for car insurance is required for several reasons.
First, most states have minimum liability requirements which means you are required to buy specific minimum amounts of liability insurance coverage if you drive a vehicle. In Arizona these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
Second, if you bought your Escalade with a loan, more than likely the lender will have a requirement that you carry insurance to ensure loan repayment if the vehicle is totalled. If you do not pay your insurance premiums, the bank or lender will purchase a policy for your Cadillac at a much higher rate and force you to reimburse them for the expensive policy.
Third, insurance protects not only your vehicle but also your assets. Insurance will also pay for hospital and medical expenses for both you and anyone you injure as the result of an accident. Liability insurance will also pay for a defense attorney if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of having car insurance definitely exceed the cost, specifically if you ever have a liability claim. According to a survey of 1,000 drivers, the average driver overpays as much as $855 a year so it’s important to compare rates at every renewal to make sure the price is not too high.
These discounts can lower your insurance rates
Car insurance can cost a lot, but you may find discounts that you may not even know about. Larger premium reductions will be automatically applied when you get a quote, but lesser-known reductions have to be specially asked for before being credited. If they aren’t giving you every credit available, you’re paying more than you need to.
- Anti-lock Brake System – Anti-lock brake equipped vehicles can stop better under adverse conditions and earn discounts up to 10%.
- Student Discount for Driver Training – Reduce the cost of insurance for teen drivers by having them enroll in driver’s education in school or through a local driver safety program.
- Discount for Multiple Policies – If you can bundle your auto and home insurance with one company they may give you a discount of as much as 10 to 15 percent.
- 55 and Retired – If you qualify as a senior citizen, you could receive better insurance rates.
- Multi-line Discount – Some insurance companies give a discounted rate on car insurance if you buy auto and life insurance together.
- Memberships – Affiliation with a civic or occupational organization in Phoenix can get you a small discount on your next insurance statement.
Consumers should know that some credits don’t apply to the entire cost. Some only reduce individual premiums such as liability, collision or medical payments. Even though it appears you would end up receiving a 100% discount, you aren’t that lucky.
If you would like to see a list of companies that offer the discounts shown above in Arizona, click here to view.
When to talk to an insurance agent
Some consumers still prefer to get advice from a local agent and we recommend doing that Professional agents can make sure you are properly covered and will help you if you have claims. An additional benefit of comparing insurance online is that drivers can save money and get the lowest rates and also buy local.
By using this quick form, your information is sent to local insurance agents in Phoenix who want to provide quotes for your insurance coverage. There is no need to leave your house since price quotes are sent directly to you. If you need to get a price quote from a specific company, you just need to visit that company’s website and submit a quote form there.
Choosing the best provider should depend on more than just the price. The questions below may impact your decision as well.
- Which company do they place the most coverage with?
- How is replacement cost determined on your vehicle?
- Can you choose the body shop in case repairs are needed?
- Does the agency have a current Errors and Omissions policy?
- Is the coverage adequate for your vehicle?
- Can glass claims be handled at your home?
- How often do they review policy coverages?
- Can you get a list of referrals?
When researching a local Phoenix insurance agent, you need to know there are two different types of agents and how they can quote your rates. Phoenix agents are either exclusive agents or independent agents. Either type can sell and service insurance coverage, but it’s important to know how they differ because it can influence buying decisions.
Exclusive Insurance Agencies
Agents of this type work for only one company and some examples include Farmers Insurance, State Farm, Allstate, and AAA. Exclusive agents are unable to provide prices from multiple companies so keep that in mind. Exclusive agencies are well schooled on the products they sell which aids in selling service over price.
Below is a short list of exclusive insurance agencies in Phoenix that are able to give price quote information.
Mary Parada – State Farm Insurance Agent
3414 W Bell Rd – Phoenix, AZ 85053 – (602) 942-9202 – View Map
Eric Hamilton – State Farm Insurance Agent
10265 W Camelback Rd #120 – Phoenix, AZ 85037 – (623) 848-3048 – View Map
Agents in the independent channel are not locked into one company so they can insure your vehicles with many different companies and get the cheapest rates. To transfer your coverage to a different company, your agent can switch companies which requires no work on your part.
When shopping rates, you definitely need to include price quotes from multiple independent agents for the best price selection.
Shown below are independent insurance agencies in Phoenix that can give you price quotes.
Persistence will pay off
As you go through the steps to switch your coverage, you should never buy lower coverage limits just to save a few bucks. There are too many instances where someone sacrificed liability limits or collision coverage only to regret at claim time that the few dollars in savings costed them thousands. Your focus should be to purchase a proper amount of coverage for the lowest cost but still have enough coverage for asset protection.
Cost effective Cadillac Escalade insurance can be sourced online and from local agencies, and you need to price shop both to have the best selection. Some insurance providers do not provide rates over the internet and most of the time these small, regional companies provide coverage only through independent agents.
More tips and info about car insurance can be read at these sites:
- Frontal Crash Tests (iihs.org)
- Who Has Cheap Phoenix Auto Insurance Rates for Drivers Over Age 70? (FAQ)
- Who Has Cheap Phoenix Car Insurance Quotes for a Honda CR-V? (FAQ)
- Who Has the Cheapest Car Insurance for a Chevrolet Malibu in Phoenix? (FAQ)
- Who Has the Cheapest Car Insurance Quotes with Multiple Speeding Tickets in Phoenix? (FAQ)
- Who Has Affordable Auto Insurance for a Jeep Wrangler in Phoenix? (FAQ)
- Who Has Affordable Phoenix Auto Insurance for Police Officers? (FAQ)
- Booster Seat Ratings (iihs.org)
- Prepare your Teens for Safe Driving (InsureUonline.org)
- How to shop for a safer car (Insurance Institute for Highway Safety)