Car Insurance Rate Quotes for a Cadillac CTS-V in Raleigh

Really, the only way to save on Cadillac CTS-V insurance in Raleigh is to compare prices annually from insurance carriers in North Carolina. Prices can be compared by following these steps.

First, try to comprehend how auto insurance works and the measures you can control to drop your rates. Many things that cause rate increases such as at-fault accidents and your credit history can be remedied by making minor driving habit or lifestyle changes.

Second, get rate quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can provide rates from one company like Progressive or Farmers Insurance, while independent agents can give you price quotes from many different companies.

Third, compare the new rate quotes to your current policy premium and see if you can save money. If you find a better price and switch companies, make sure coverage does not lapse between policies.

Fourth, tell your current company of your intention to cancel your existing policy and submit a down payment along with a completed application to the new company. As soon as you have the new policy, put the certificate verifying proof of insurance in an easily accessible location.

A crucial key to this process is to make sure you’re comparing identical deductibles and limits on every quote and and to look at every company you can. Doing this enables a fair price comparison and a thorough price selection.

Insurance for Cadillac CTS-VAmazingly, the majority of drivers kept their coverage with the same auto insurance company for at least the last four years, and nearly 40% of drivers have never even compared quotes to find lower-cost rates. Many drivers in Raleigh could save up to 10% every year, but they don’t know the rate savings if they just switched companies.

It’s important to know that making a lot of price comparisons helps you find the best rates. Not every company allows you to get online price quotes, so it’s recommended that you also compare price quotes from the smaller companies as well.

The auto insurance companies shown below can provide price comparisons in North Carolina. If multiple companies are listed, it’s highly recommended you visit as many as you can to get the best price comparison.

Insurance rate breakdown

The coverage information displayed next covers detailed analysis of insurance premium costs for Cadillac CTS-V models. Having knowledge of how prices are formulated is important for making informed coverage decisions.

Cadillac CTS-V Insurance Rates in Raleigh, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CTS-V $360 $816 $286 $16 $86 $1,564 $130
Get Your Own Custom Quote Go

Prices above based on single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Price information does not factor in the specific area where the vehicle is garaged which can modify coverage prices noticeably.

Deductible comparison

One common question asked by Raleigh drivers is which comprehensive and collision deductibles to buy. The following insurance rates illustrate the cost difference between low and high coverage deductibles. The first rate estimation uses a $100 physical damage deductible and the second set of rates uses a $1,000 deductible.

Cadillac CTS-V insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CTS-V $324 $662 $212 $12 $64 $1,299 $108
Get Your Own Custom Quote Go

Cadillac CTS-V insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CTS-V $180 $350 $212 $12 $64 $818 $68
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, multi-vehicle, and safe-driver. Table data does not factor in vehicle location which can decrease or increase coverage rates greatly.

Using the data above, we can ascertain that using a $100 deductible costs approximately $40 more each month or $480 every year than requesting the higher $1,000 deductible. Because you would pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have at least 23 months between claims, you would come out ahead if you elect the higher deductible. The illustration below shows how you can come to your own conclusion.

Average monthly premium for $100 deductibles: $108
Average monthly premium for $1,000 deductibles (subtract): – $68
Monthly savings from raising deductible: $40
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $40
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 23 months

One important note is that a higher deductible means you pay more out-of-pocket when you do file a claim. That will necessitate enough disposable savings in the event you have to pay the deductible.

The example below illustrates how your deductible choice and can change Cadillac CTS-V yearly insurance costs for each different age category. The rate quotes are based on a married male driver, full physical damage coverage, and no discounts are applied.

Drive responsibly or pay higher rates

The diagram below illustrates how violations and accidents can increase Cadillac CTS-V insurance prices for different age groups. The premiums assume a married male driver, comprehensive and collision coverage, $100 deductibles, and no additional discounts are factored in.

Annual premiums comparing men and women in Raleigh

The chart below shows the difference between Cadillac CTS-V insurance costs for male and female drivers. The rate quotes are based on no claims, a clean driving record, full physical damage coverage, $1,000 deductibles, drivers are not married, and no discounts are factored in.

Rate difference between full and liability-only coverage

The illustration below illustrates the difference between Cadillac CTS-V auto insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums assume no claims or driving citations, $100 deductibles, single marital status, and no additional discounts are factored in.

Guidelines for eliminating full coverage

There is no set guideline that works best for making the decision to drop full coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.

For example, let’s pretend your Cadillac CTS-V claim settlement value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, you would only receive $2,000 after the deductible is paid. If you are paying over $200 a year for physical damage coverage, the it may be a good time to stop paying for full coverage.

There are some situations where buying only liability insurance is not financially feasible. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not remove full coverage.

How do Insurers Determine Cadillac CTS-V Insurance Premiums?

A large part of saving on auto insurance is knowing the factors that help determine the level of your policy premiums. If you have a feel for what impacts premium levels, this helps enable you to make changes that could result in much lower annual insurance costs.

The following are some of the factors utilized by car insurance companies to help set your prices.

Why do I need car insurance?

Despite the high cost of buying insurance for a Cadillac CTS-V in Raleigh, insurance is required by state law in North Carolina and it also provides benefits you may not be aware of.

First, the majority of states have compulsory liability insurance requirements which means state laws require a minimum amount of liability protection if you want to drive legally. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.

Second, if your car has a loan, most banks will have a requirement that you have full coverage to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the bank will be required to insure your Cadillac at a more expensive rate and require you to reimburse them the higher price.

Third, insurance protects not only your Cadillac CTS-V but also your assets. It will also reimburse you for hospital and medical expenses incurred in an accident. Liability coverage will also pay to defend you if anyone sues you for causing an accident. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay all costs to repair after the deductible has been paid.

The benefits of carrying adequate insurance greatly outweigh the cost, especially for larger claims. An average driver in America is overpaying over $850 per year so it’s recommended you shop around every year to ensure rates are inline.