Compare Cadillac SRX Insurance Rates in Madison

Remarkably, a study showed that nearly 70% of drivers have purchased from the same company for a minimum of four years, and just under half have never compared rates with other companies. Madison consumers can save hundreds of dollars each year just by comparing rates, but they underestimate the benefits if they just switched companies.

If your goal is the lowest price, then the best way to get affordable Cadillac SRX insurance in Madison is to make a habit of regularly comparing prices from different companies who sell auto insurance in Wisconsin.

1. Spend some time learning about policy coverages and the changes you can make to drop your rates. Many policy risk factors that result in higher rates like inattentive driving and a negative credit history can be controlled by making lifestyle changes or driving safer. This article gives more ideas to get lower rates and find overlooked discounts.
2. Get rate quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only provide price estimates from a single company like Progressive or State Farm, while independent agencies can provide prices for a wide range of companies.
3. Compare the new rates to your existing policy and see if you can save money. If you can save some money, ensure there is no coverage lapse between policies.
4. Provide notification to your current company of your decision to cancel the current policy and submit payment along with a signed and completed policy application to your new company or agent. Immediately upon receiving it, keep the new certificate of insurance with your registration paperwork.

A good piece of advice is to use identical coverages on each price quote and and to get price estimates from as many different insurance providers as possible. Doing this helps ensure a fair price comparison and a complete selection of prices.

Buying affordable auto insurance in Madison is not that difficult. If you are already insured, you will most likely be able to cut your premiums using these tips. But Wisconsin vehicle owners must understand how the larger insurance companies calculate your policy premium and use it to find better rates.

Earn discounts to get lower-cost Madison insurance quotes

Car insurance companies don’t list all possible discounts very well, so below is a list a few of the more common in addition to some of the lesser obvious credits available to you.

• Good Student Discount – Excelling in school can earn a discount of 20% or more. Most companies allow this discount up until you turn 25.
• Defensive Driving Course – Taking time to complete a defensive driver course is a good idea and can lower rates if you qualify.
• Discounts for Government Workers – Being employed by or retired from a federal job may reduce rates when you quote Madison auto insurance but check with your company.
• Savings for New Vehicles – Putting insurance on a new SRX can get you a discount because newer models keep occupants safer.
• Pay Now and Pay Less – If you can afford to pay the entire bill rather than paying in monthly installments you may reduce your total bill.

As a disclaimer on discounts, most discount credits are not given to all coverage premiums. The majority will only reduce the price of certain insurance coverages like medical payments or collision. So even though they make it sound like you would end up receiving a 100% discount, companies wouldn’t make money that way.

The example below shows the difference between Cadillac SRX insurance premiums with and without discounts. The costs are based on a female driver, a clean driving record, no at-fault accidents, Wisconsin state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, claim-free, multi-car, safe-driver, and multi-policy discounts applied.

To locate insurance companies who offer insurance discounts in Wisconsin, click here to view.

When comparing insurance rates, know that comparing a large number of companies gives you a better chance of getting more affordable insurance.

The companies shown below have been selected to offer free quotes in Madison, WI. If you wish to find cheap car insurance in Madison, we recommend you visit two to three different companies to get a more complete price comparison.

Rate information and statistics

The information shown next covers estimates of rate quotes for Cadillac SRX models. Knowing how auto insurance premiums are figured is important for making smart buying decisions.

Prices above based on married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, homeowner, and multi-policy. Prices do not factor in specific Madison garaging location which can affect coverage rates significantly.

Raise deductibles and save

One of the more difficult decisions when buying auto insurance is at what level do you set your deductibles. The figures shown below outline the differences in premium rates when you choose different physical damage deductibles. The first rate estimation uses a $100 deductible for comp and collision and the second rate chart uses a $1,000 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Rate information does not factor in Madison location which can affect price quotes considerably.

Based on the figures above, using a $100 deductible costs about $29 more each month or $348 each year across all Cadillac SRX models than quoting the higher $1,000 deductible. Because you would pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you usually have at a minimum 31 months between claims, you would come out ahead if you choose the higher deductible. Here’s how this decision is made.

An important thing to remember is that raising deductibles to get cheaper rates means you will have to pay more out-of-pocket when you have a claim. It will be required that you have access to more funds in the event you need to pay more to get your vehicle repaired.

The illustration below illustrates how your choice of deductibles and can influence Cadillac SRX insurance costs for different age groups. The costs are based on a single male driver, comprehensive and collision coverage, and no discounts are applied to the premium.

Irresponsible driving raises your rates

The chart below highlights how traffic violations and at-fault claims can affect Cadillac SRX annual premium costs for different age groups of insureds. The prices are based on a married male driver, full physical damage coverage, $250 deductibles, and no discounts are applied.

Full coverage rates vs. liability-only in Madison

The chart below shows the difference between Cadillac SRX insurance rates with liability coverage only compared to full coverage. The data is based on a clean driving record, no at-fault accidents, $250 deductibles, single marital status, and no discounts are factored in.

When to switch to liability coverage only

There is no definitive guideline that is best for determining when to drop full coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is more than around 10% of replacement cost minus your deductible, then it may be the right time to buy liability only.

For example, let’s assume your Cadillac SRX settlement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would receive is $4,000 after paying your deductible. If you are paying more than $400 a year to have full coverage, then you may want to consider only buying liability coverage.

There are a few cases where dropping physical damage coverage is not in your best interest. If you still have a lienholder on your title, you have to keep full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not consider dropping full coverage.

Insurance Rate Influencing Factors

Smart consumers have a good feel for some of the elements that play a part in calculating the price you pay for car insurance. When consumers understand what determines premiums, this enables informed choices that may reward you with lower premium levels. Many different elements are used in the calculation when quoting car insurance. Most are fairly basic such as your driving record, but other criteria are more transparent such as your marital status or how financially stable you are.

• Discounts for multiple policies – Most larger insurers provide better rates to clients who have multiple policies with them. It’s known as a multi-policy discount. Even if you qualify for this discount already, it’s still a good idea to get quotes from other companies to help guarantee you have the best rates. You may still save more without the discount by buying car insurance from a different company.
• Do you really need roadside assistance? – There are a lot of optional add-on coverages that you can get tricked into buying but may not be useful. Coverages for coverage for rental cars, towing coverage, and membership fees are examples of these. They may seem like a good idea when talking to your agent, but your money might be better spent on other coverage so remove them from your policy.
• Five star crash test rating saves money – Cars with five star safety ratings tend to have better insurance rates. Safer cars result in less severe injuries and better occupant protection translates into fewer and smaller insurance claims and more competitive rates for policyholders. If your Cadillac is rated at least four stars on Safercar.gov or an “acceptable” rating on iihs.org you are probably receiving a discount.

• Gender as a rate factor – Statistics have proven women tend to be less risk to insure than men. That doesn’t necessarily mean that females are better at driving than males. Both genders get in fender benders at a similar rate, but the men cause more damage. Not only that, but men also receive more major tickets like reckless driving and DUI. Male teenagers are the most expensive to insure and thus pay the highest rates.

  The diagram below illustrates the comparison of Cadillac SRX car insurance rates for male and female drivers. The prices are based on no driving violations, no at-fault accidents, full physical damage coverage, $1,000 deductibles, drivers are single, and no discounts are taken into consideration.

• Vehicle theft costs us all – Buying a car with an alarm system can help lower your rates. Theft prevention features like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems can help prevent auto theft.

• Lower performance equals lower insurance prices – The performance level of the vehicle you are buying insurance for makes a big difference in your rates. Lower performance four cylinder passenger cars usually have the lowest premiums, but that’s not the only thing that factors into the final price.

  The following data uses these variables: single female driver age 20, full coverage with $1000 deductibles, and no discounts or violations. It shows Cadillac SRX rates compared to other makes and models that have a range of risk factors.

• Higher prices for high stress jobs – Did you know your car insurance rates can be affected by your occupation? Jobs such as military generals, architects, and medical professionals generally pay higher premium rates attributed to high stress and extremely grueling work hours. Other careers like scientists, students and performers pay lower than average rates.
• Never go without car insurance – Not maintaining insurance is a big no-no and as a result your rates will increase for letting your insurance coverage expire. And not only will your rates increase, being ticketed for driving with no insurance could result in fines and jail time.

• Cadillac SRX claim data – Auto insurance companies analyze claim trends for every vehicle to help set a rate to offset losses. Vehicles that historically have a higher amount or frequency of claims will have increased rates. The table below demonstrates the loss history for Cadillac SRX vehicles.

  For each policy coverage, the claim amount for all vehicles averaged together is a value of 100. Numbers under 100 indicate better than average losses, while values that are above 100 indicate a higher chance of having a claim or statistically larger losses.

  
  

  Cadillac SRX Insurance Loss Statistics

  Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Cadillac SRX 4dr 2WD	103	101	84	80	82	91
  Cadillac SRX 4dr 4WD	109	106	103	78	75	83

  BETTER

  AVERAGE

  WORSE

  Statistics from IIHS.org for 2013-2015 Model Years

Special considerations

When it comes to insurance from an agent or online, there is no cookie cutter policy. Your needs are not the same as everyone else’s.

For example, these questions might point out if your situation will benefit from professional help.

• Is upholstery damage covered by car insurance?
• Is a fancy paint job covered?
• What discounts do I qualify for?
• Does insurance cover damages from a DUI accident?
• Can I afford to pay high deductible claims out of pocket?
• Should I buy more coverage than the required Wisconsin minimum liability coverage?

If you’re not sure about those questions then you might want to talk to a licensed insurance agent. If you don’t have a local agent, complete this form.

When should I have guidance from an agent?

Some people would prefer to talk to a local agent and that can be a great decision An additional benefit of comparing insurance online is the fact that drivers can get better rates and still have an agent to talk to.

To find an agent, once you fill out this simple form, your insurance data is emailed to insurance agents in Madison who want to provide quotes to get your business. You never need to search for any insurance agencies since price quotes are sent directly to you. You can get cheaper insurance rates without the usual hassles of price shopping. If for some reason you want to get a rate quote from a specific insurance provider, you just need to jump over to their website and give them your coverage information.

Finding a good insurer is decision based upon more than just the bottom line cost. The questions below may impact your decision as well.

• How many years have they been established?
• If you have an accident, will your rates go up?
• Do they get paid more for recommending certain coverages?
• Does the agent recommend any additional coverage?
• Is the quote a firm price?

If you’re trying to find a local Madison insurance agent, there are two different agency structures to choose from. Madison agents are either independent or exclusive depending on the company they work for.

Exclusive Insurance Agencies

Agents in the exclusive channel can usually just insure with one company like Farmers Insurance, State Farm, or Allstate. Exclusive agents are unable to give you multiple price quotes so they have to upsell other benefits. These agents are trained well on the products they sell and that allows them to sell at a higher price point.

Shown below is a list of exclusive agents in Madison that can give you price quotes.

View more agents

Independent Insurance Agents

Agents of this type are appointed with more than one company so they can insure your vehicles through lots of different companies depending on which coverage is best. If you are not satisfied with one company, an independent agent can move your coverage and you can keep the same agent.

If you need cheaper insurance rates, you should always contact a few independent agents so that you can do a thorough price comparison.

Listed below are Madison independent insurance agents who can help you get price quote information.

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Three main reasons to buy auto insurance

Despite the high cost, auto insurance may not be optional for several reasons.

• Just about all states have mandatory liability insurance requirements which means the state requires a minimum amount of liability protection in order to be legal. In Wisconsin these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
• If you have a loan on your SRX, most banks will stipulate that you have insurance to ensure the loan is repaid in case of a total loss. If the policy lapses, the lender will be forced to insure your Cadillac at a more expensive rate and make you pay for the much more expensive policy.
• Auto insurance preserves not only your vehicle but also your financial assets. Insurance will also pay for all forms of medical expenses for both you and anyone you injure as the result of an accident. One policy coverage, 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, your auto insurance policy will pay to repair the damage minus the deductible amount.

The benefits of insuring your car more than cancel out the cost, especially when you need to use it. Unknowingly, the average driver is overpaying over $865 each year so compare quotes from several companies each time the policy renews to be sure current rates are still competitive.

Auto insurance savings summarized

When shopping online for auto insurance, never buy lower coverage limits just to save a few bucks. In too many instances, an insured cut comprehensive coverage or liability limits only to regret at claim time that they should have had better coverage. Your focus should be to purchase plenty of coverage at the best cost while still protecting your assets.

We’ve covered many tips how you can shop for Cadillac SRX insurance online. The key concept to understand is the more you quote Madison auto insurance, the better your chances of lowering your premium rates. You may even discover the best price on auto insurance is with a small local company.

Consumers who switch companies do it for a variety of reasons including policy non-renewal, high prices, unfair underwriting practices or not issuing a premium refund. It doesn’t matter why you want to switch choosing a new company is not as difficult as it may seem.

For more information, feel free to visit the following helpful articles:

• Determining Auto Insurance Rates (GEICO)
• Who Has the Cheapest Car Insurance Quotes for Postal Workers in Madison? (FAQ)
• How Much is Auto Insurance for Seniors in Madison? (FAQ)
• What Auto Insurance is Cheapest for a Hyundai Elantra in Madison? (FAQ)
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• Who Has Affordable Auto Insurance Rates for Veterans in Madison? (FAQ)
• Who Has the Cheapest Car Insurance for Drivers Over Age 60 in Madison? (FAQ)
• What is Full Coverage? (Allstate)
• Protect Yourself Against Auto Theft (Insurance Information Institute)