Compare Cadillac Escalade Insurance Quotes in Memphis

Feel like you’re a prisoner to an overpriced car insurance policy? Trust us, many Memphis consumers feel financially strained by their car insurance policy.

Statistics show that nearly 70% of drivers have been with the same company for four years or more, and 38% of customers have never even compared rates from other companies. Most drivers in Tennessee can save hundreds of dollars each year just by getting comparison quotes, but most just don’t grasp how much savings they would realize if they moved their coverage to a different company.

Having so many car insurance companies to choose from, it is very difficult to find the lowest price company.

It’s smart to price shop coverage at least once a year since insurance prices go up and down regularly. Just because you had the lowest price on Cadillac Escalade insurance in Memphis two years ago you can probably find a better rate now. You can find a lot of wrong information about Escalade insurance online but we’re going to give you the easiest ways to lower your car insurance rates in Memphis.

How to compare Memphis Cadillac Escalade insurance quotes

Most major insurance companies allow you to get insurance quotes on the web. Getting online rates for Cadillac Escalade insurance in Memphis is easy for anyone because it’s just a matter of typing in the coverage amounts you desire as requested by the quote form. Once entered, their rating system collects credit information and your driving record and provides a quote based on these and other factors. Getting online price quotes for Cadillac Escalade insurance in Memphis makes it simple to compare prices and it’s necessary to get many rate quotes in order to find the cheapest price.

If you want to compare rates using this form now, compare quotes from the companies shown below. If you have coverage now, it’s recommended you copy your coverages as shown on your current policy. This makes sure you will receive a fair comparison using the exact same coverages.

The providers in the list below are ready to provide price quotes in Tennessee. To buy the best cheap auto insurance in Tennessee, it’s highly recommended you visit several of them to get the lowest price.

Auto insurance policy discounts for Cadillac Escalade insurance in Memphis

Some insurers don’t always advertise all their discounts in a way that’s easy to find, so here is a list a few of the more common and the harder-to-find ways to save on auto insurance.

• Discount for Life Insurance – Select companies reward you with a break if you buy life insurance.
• Sign Early and Save – Select auto insurance companies give a discount for switching companies before your current Escalade insurance policy expires. Ten percent is about the average savings.
• Early Payment Discounts – By paying your policy upfront rather than paying in monthly installments you could save 5% or more.
• Driver Safety – Taking time to complete a course in driver safety could cut 5% off your bill and make you a better driver.
• Active Service Discounts – Having an actively deployed family member may lower your premium rates slightly.
• Senior Citizen Rates – Drivers that qualify as senior citizens can possibly qualify for lower premium rates.
• Employee of Federal Government – Employees or retirees of the government could cut as much as 10% off with select insurance companies.

While discounts sound great, it’s important to understand that most credits do not apply to all coverage premiums. Most only reduce individual premiums such as liability, collision or medical payments. If you do the math and it seems like you can get free auto insurance, companies wouldn’t make money that way.

The illustration below shows the comparison of Cadillac Escalade auto insurance rates with and without discounts applied to the policy rates. The data assumes a female driver, no violations or accidents, Tennessee state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, homeowner, marriage, multi-policy, and claim-free discounts applied.

A few companies that may offer policyholders these money-saving discounts possibly include:

• Progressive
• GEICO
• State Farm
• Esurance
• The Hartford

If you want cheaper Memphis auto insurance quotes, ask all the companies how you can save money. Savings may not apply to policies in Memphis. To find providers with discount rates in Memphis, click here.

Rates and detailed analysis

The rate table displayed next covers different insurance coverage prices for Cadillac Escalade models. Having a better understanding of how auto insurance policy rates are figured can be of help when making informed decisions when comparing rate quotes.

Data variables include married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Rate quotes do not factor in vehicle garaging location which can modify rates substantially.

Should you raise deductibles?

One of the hardest decisions when shopping for auto insurance is how high should your deductibles be. The comparisons below highlight the differences in premium rates when you select higher and lower coverage deductibles. The first data table uses a $250 deductible for comprehensive and collision coverage and the second price table uses a $1,000 deductible.

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Rates do not factor in specific location which can impact premium rates greatly.

We can derive from the above data that using a $250 deductible will cost you roughly $31 more each month or $372 annually across all Cadillac Escalade models than quoting the higher $1,000 deductible. Since you would have to pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you average at a minimum 24 months between claims, you would come out ahead going with the higher deductible.

Should you buy full coverage?

The chart below compares Cadillac Escalade insurance costs when comparing full coverage to state minimum liability only. The premiums assume no claims or driving citations, $100 deductibles, drivers are not married, and no additional discounts are factored in.

Should you buy full coverage or liability only?

There is no specific rule that is best for determining when to drop full coverage, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.

For example, let’s assume your Cadillac Escalade book value is $9,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $8,000 after paying your deductible. If you are currently paying more than $800 annually for full coverage, then it could be time to drop full coverage.

There are some situations where removing full coverage is not in your best interest. If you still have a loan on your vehicle, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.

Buying auto insurance from Memphis insurance agencies

A small number of people would rather get advice from a local agent. The best thing about price shopping on the web is that you can obtain lower rates but still work with a licensed agent.

By using this simple form, the coverage information is transmitted to local insurance agents in Memphis who will return price quotes and help you find cheaper coverage. There is no need to search for an agent because quoted prices will be sent to you instantly. Get lower rates without a big time investment. If you wish to compare rates for a specific company, don’t hesitate to search and find their rate quote page and fill out their quote form.

Picking the best insurer requires more thought than just the quoted price. Some important questions to ask are:

• Does the quote include credit and driving reports?
• Are claim adjusters local or do you have to take your car somewhere else?
• If independent agents, which companies do they recommend?
• Are they giving you every discount you deserve?
• How much training do they have in personal risk management?

If you are wanting to purchase auto insurance from a local Memphis insurance agent, you need to know there are two different agency structures from which to choose. Auto insurance agents in Memphis can be categorized as either independent agents or exclusive agents.

Exclusive Agencies

Agents of this type can only write with one company and some examples include State Farm, Allstate, or Farmers Insurance. They generally cannot place coverage with different providers so if the price isn’t competitive there isn’t much they can do. Exclusive agents receive extensive training on their products and sales techniques which can be an advantage.

The following is a short list of exclusive insurance agencies in Memphis willing to provide price quote information.

More insurance agents

Independent Agents

These type of agents can sell policies from many different companies and that enables them to quote your coverage with multiple insurance companies and find you cheaper rates. If they quote lower rates, they simply move your policy to a different company and you can keep the same agent. When searching for an agent, we recommend you compare prices from independent agents for the best price selection.

Below is a short list of independent insurance agents in Memphis willing to provide comparison quotes.

More insurance agents

What Determines Cadillac Escalade Insurance Costs?

The best way to find cheaper auto insurance is to take a look at the rating factors that help determine your policy premiums. When you understand what determines premiums, this helps enable you to make changes that will entitle you to lower premium levels.

• Men tend to take more risk – Over the last 30 years, statistics show that females tend to be a little less risky than males. It does not mean women are better drivers. Both sexes are responsible for fender benders in similar numbers, but men get into accidents with more damage. They also get higher numbers of serious violations like driving under the influence (DUI). Male teenagers tend to get in the most accidents and are penalized with high auto insurance rates.

  The information below visualizes the comparison of Cadillac Escalade insurance costs for male and female drivers. The information is based on a clean driving record, no claims, comp and collision included, $500 deductibles, single marital status, and no discounts are factored in.

• Extra coverages can add up – There are quite a few extra add-on coverages that you can get tricked into buying on your auto insurance policy. Insurance for things like rental car reimbursement, accident forgiveness, and Farm Bureau memberships could be just wasting money. They may sound like good ideas when discussing your needs, but if you don’t need them eliminate them to save money.
• Don’t abuse auto insurance claims – If you tend to file frequent claims, you can definitely plan on either a policy non-renewal or much higher rates. Companies in Tennessee generally give the best rates to policyholders who are not frequent claim filers. Your insurance policy is meant to be used in the event of the large, substantial claims.
• Costs can change based on your address – Having an address in less populated areas of the country can save you money when talking about auto insurance. People in densely populated areas tend to have traffic congestion and more time behind the wheel. Less people means fewer accidents.
• Reduce premiums by driving safer vehicles – Vehicles that have high safety ratings get lower rates. Highly rated vehicles reduce occupant injuries and fewer serious injuries translates into savings for insurance companies passed on to you as lower rates. If your Cadillac Escalade is rated at least four stars on Safercar.gov it may cost less to insure.

• Tickets drive up prices – Your driving citation history has a huge affect on how much you pay. Having a single citation may cause rates to rise by as much as thirty percent. Drivers who don’t get tickets pay lower auto insurance prices as compared to careless drivers. Drivers who get dangerous citations like DUI, reckless driving or excessive speeding may find they need to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to prevent a license revocation.

  The diagram below demonstrates how traffic citations and fender-benders influence Cadillac Escalade insurance costs for each different age category. The data is based on a married female driver, full physical damage coverage, $250 deductibles, and no additional discounts are factored in.

• Credit rating impacts premium prices – Your credit score is a large factor in your rate calculation. Insureds that have high credit scores tend to be more responsible and file fewer claims than drivers with lower credit scores. If your credit score is lower than you’d like, you could pay less to insure your Cadillac Escalade by spending a little time repairing your credit.
• Bundling policies can get discounts – Most auto insurance companies will award lower prices to policyholders that buy multiple policies. It’s known as a multi-policy discount. Discounts can be ten or even up to twenty percent in some cases. Even if you qualify for this discount already, it’s still a good idea to shop around to verify if the discount is saving money.There is a chance you can save money even if you have your coverage with different companies

• Insurance loss statistics a Cadillac Escalade – Auto insurance companies use past insurance losses to calculate a rate that will offset losses. Vehicles that are shown to have higher prevalence or dollar amount of losses will be charged more to insure.

  The information below illustrates the insurance loss data for Cadillac Escalade vehicles. For each insurance policy coverage type, the loss probability for all vehicles averaged together is equal to 100. Values that are 100 or less represent a good loss history, while percentage numbers above 100 indicate more frequent losses or an increased probability of a larger loss.

  
  

  Auto Insurance Loss Data for Cadillac Escalade Models

  Vehicle 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

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Protect more than your vehicle

Despite the potentially high cost of Cadillac Escalade insurance, insurance is not optional due to several reasons.

• Almost all states have compulsory liability insurance requirements which means state laws require a specific level of liability in order to license the vehicle. In Tennessee these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
• If you have a lien on your Cadillac Escalade, it’s most likely the lender will require you to have physical damage coverage to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the lender will be forced to insure your Cadillac at an extremely high rate and require you to fork over a much higher amount than you were paying before.
• Insurance protects both your car and your assets. It also can pay for medical transport and hospital expenses incurred in an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney if you cause an accident and are sued. If damage is caused by hail or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage minus the deductible amount.

The benefits of insuring your Escalade greatly outweigh the cost, especially if you ever need it. According to a recent study, the average American driver overpays more than $865 each year so compare rate quotes at least once a year to help ensure money is not being wasted.

Persistent drivers can save

We just presented a lot of tips how to reduce Cadillac Escalade insurance rates online in Memphis. The key concept to understand is the more price quotes you have, the better your comparison will be. You may even be surprised to find that the best price on insurance is with the smaller companies. These smaller insurers often have lower car insurance rates on specific markets compared to the large companies like Progressive and GEICO.

When buying insurance coverage, don’t be tempted to buy less coverage just to save a little money. Too many times, someone sacrificed liability limits or collision coverage and discovered at claim time that a couple dollars of savings turned into a financial nightmare. The ultimate goal is to buy a smart amount of coverage for the lowest cost, but do not sacrifice coverage to save money.

Steps to buying cheaper Cadillac Escalade insurance in Memphis

If saving the most money is your goal, then the best way to find low-cost auto insurance rates is to annually compare prices from companies in Memphis.

• First, it will benefit you to learn about the coverage provided by your policy and the steps you can take to lower rates. Many risk factors that result in higher prices such as multiple speeding tickets and an imperfect credit rating can be rectified by improving your driving habits or financial responsibility.
• Second, request rate estimates from direct, independent, and exclusive agents. Exclusive and direct companies can provide rates from a single company like GEICO or Allstate, while agents who are independent can quote prices for a wide range of companies. Click to view companies
• Third, compare the new rate quotes to your existing rates and see if there is a cheaper rate. If you find a better price and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.
• Fourth, provide adequate notice to your current company of your decision to cancel your existing policy. Submit the completed application along with a down payment to the newly selected company. Once the paperwork is finalized, place your new certificate verifying coverage with your registration paperwork.

The key thing to remember is to try to compare the same deductibles and limits on each quote request and to quote with as many carriers as you can. Doing this guarantees an accurate price comparison and maximum price selection.

More information can be found below:

• New head restraint design cuts injuries (Insurance Institute for Highway Safety)
• Who Has Affordable Memphis Car Insurance for a Nissan Altima? (FAQ)
• Who Has Affordable Car Insurance Rates for Drivers with a DUI in Memphis? (FAQ)
• Who Has Cheap Memphis Auto Insurance for Homeowners? (FAQ)
• Understanding your Policy (NAIC.org)
• How Does Hitting a Deer Impact Insurance Rates? (Allstate)
• Driving in Bad Weather (Insurance Information Institute)