Compare Cadillac SRX Insurance Rates in Madison

Insurance rates Cadillac SRX in MadisonRemarkably, 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.

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.

Cadillac SRX Insurance Rates in Madison, WI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $154 $292 $216 $12 $64 $738 $62
SRX Luxury 2WD $154 $338 $216 $12 $64 $784 $65
SRX Luxury AWD $154 $338 $216 $12 $64 $784 $65
SRX Performance 2WD $172 $338 $216 $12 $64 $802 $67
SRX Performance AWD $172 $338 $216 $12 $64 $802 $67
SRX Premium 2WD $172 $338 $216 $12 $64 $802 $67
SRX Premium AWD $172 $338 $216 $12 $64 $802 $67
Get Your Own Custom Quote Go

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.

Cadillac SRX insurance prices with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $224 $422 $230 $14 $68 $983 $82
SRX Luxury 2WD $224 $484 $230 $14 $68 $1,045 $87
SRX Luxury AWD $224 $484 $230 $14 $68 $1,045 $87
SRX Performance 2WD $248 $484 $230 $14 $68 $1,069 $89
SRX Performance AWD $248 $484 $230 $14 $68 $1,069 $89
SRX Premium 2WD $248 $484 $230 $14 $68 $1,069 $89
SRX Premium AWD $248 $484 $230 $14 $68 $1,069 $89
Get Your Own Custom Quote Go

Cadillac SRX insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
SRX 2WD $124 $222 $230 $14 $68 $658 $55
SRX Luxury 2WD $124 $256 $230 $14 $68 $692 $58
SRX Luxury AWD $124 $256 $230 $14 $68 $692 $58
SRX Performance 2WD $138 $256 $230 $14 $68 $706 $59
SRX Performance AWD $138 $256 $230 $14 $68 $706 $59
SRX Premium 2WD $138 $256 $230 $14 $68 $706 $59
SRX Premium AWD $138 $256 $230 $14 $68 $706 $59
Get Your Own Custom Quote Go

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.

Average monthly premium for $100 deductibles: $87
Average monthly premium for $1,000 deductibles (subtract): – $58
Monthly savings from raising deductible: $29
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $29
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 31 months

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.

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.

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.

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.

4706 Cottage Grove Rd Ste 300Madison, WI 53716(608) 222-2411View Map

621 N Sherman Ave, Ste B16Madison, WI 53704(608) 222-1400View Map

424 S Park StMadison, WI 53715(608) 257-5132View Map

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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.

1310 Mendota St # 108Madison, WI 53714(608) 241-4136View Map

2820 Walton Cmns W # 135Madison, WI 53718(608) 242-9473View Map

6200 Mineral Point RdMadison, WI 53705(608) 238-2686View Map

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Three main reasons to buy auto insurance

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

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.

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