Car Insurance Rates for a Cadillac CTS-V in Omaha

Insurance quote for Cadillac CTS-V in OmahaAre you tired of not being able to scrape enough together to pay high insurance rates every month? You are in the same boat as many other drivers in Nebraska.

Smart shoppers know that insurance companies don’t want you to look for a cheaper policy. Consumers who compare other prices will, in all likelihood, switch to a new company because there are good odds of finding more affordable rates. A recent survey discovered that consumers who compared rates annually saved approximately $3,450 over four years compared to drivers who never shopped around for better prices.

If finding discount rates on Cadillac CTS-V insurance in Omaha is the reason you’re reading this, understanding how to get price quotes and compare coverages can make it simple to find affordable coverage.

Steps to saving money on Cadillac CTS-V insurance in Omaha

The recommended way to find low-cost Cadillac CTS-V insurance is to compare prices once a year from different companies who provide auto insurance in Omaha. Rates can be compared by following these guidelines.

  1. Get an understanding of car insurance and the things you can change to keep rates in check. Many rating factors that drive up the price such as high-risk driving behaviors and an unacceptable credit history can be improved by making minor driving habit or lifestyle changes.
  2. Obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only provide price estimates from one company like Progressive or Allstate, while independent agents can give you price quotes for many different companies.
  3. Compare the price quotes to the premium of your current policy and determine if cheaper CTS-V coverage is available. If you find a lower rate quote, make sure coverage does not lapse between policies.
  4. Notify your company or agent of your decision to cancel your current car insurance policy. Submit a completed policy application and payment to your new carrier. Once the paperwork is finalized, place your new certificate of insurance in your glove compartment.

The key thing to remember is to make sure you enter identical deductibles and limits on every price quote and and to analyze as many companies as you can. Doing this ensures an apples-to-apples comparison and a complete selection of prices.

Companies like Progressive, GEICO and Farmers Insurance all claim big savings with advertising and it is challenging if not impossible to ignore the flying pigs and cute green geckos and effectively compare rates to find the best deal.

Smart consumers take time to get comparison quotes once or twice a year because insurance prices go up and down regularly. Just because you had the best deal on Cadillac CTS-V insurance in Omaha last year the chances are good that you can find a lower rate quote today. Forget all the misinformation about insurance because we’re going to show you how to quote online to save money, get proper coverage and the best rates.

Getting a cheaper price on insurance can be relatively painless. Just invest a little time comparing rate quotes to discover which company has cheaper Omaha car insurance quotes.

Comparing free rate quotes online is easy and it, makes it a waste of time to spend time driving to local Omaha insurance agencies. The internet reduces the need to sit down with an agent unless you prefer the professional advice that only a licensed agent can provide. Some companies do allow you to get the lowest quotes online but buy from a local insurance agent.

The car insurance companies shown below have been selected to offer comparison quotes in Nebraska. If your goal is to find cheap car insurance in Omaha, NE, we suggest you compare several of them in order to get a fair rate comparison.

Coverage information

The data table shown below highlights a range of insurance coverage prices for Cadillac CTS-V models. Being more informed about how policy rates are formulated is important for you to make smart choices when selecting a policy.

Cadillac CTS-V Insurance Rates in Omaha, NE
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CTS-V $170 $358 $244 $14 $74 $860 $72
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Table data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Nebraska minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Estimates do not factor in vehicle location which can modify coverage rates substantially.

Rate comparison for different deductibles

The hardest decision when buying coverage is how high or low should comp and collision deductibles be. The rates shown below may help you to understand the rate difference when you choose different insurance deductibles. The first set of prices uses a $100 deductible and the second price chart uses a $500 deductible.

Cadillac CTS-V insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CTS-V $390 $798 $254 $16 $76 $1,559 $130
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Cadillac CTS-V insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CTS-V $286 $540 $254 $16 $76 $1,172 $98
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Nebraska minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Information does not factor in vehicle garaging location which can alter premium rates significantly.

Using the premium rates above, we can conclude that using a $100 deductible costs roughly $32 more each month or $384 every year across all Cadillac CTS-V models than opting for the higher $500 deductible. Since you would have to pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you normally go at least 13 months between claims, you would save money by going with a higher deductible.

How to determine when to raise your deductibles

Average monthly premium for $100 deductibles: $130
Average monthly premium for $500 deductibles (subtract): – $98
Monthly savings from raising deductible: $32
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $32
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 13 months

Do you need full coverage?

The diagram below illustrates the comparison of Cadillac CTS-V yearly insurance costs with and without full coverage. The data assumes a clean driving record, no claims, $500 deductibles, marital status is single, and no additional discounts are factored in.

When to drop comprehensive and collision

There is no definitive rule for dropping physical damage coverage, but there is a guideline you can use. If the annual cost of having full coverage is about 10% or more of the replacement cost minus the deductible, then you may need to consider dropping full coverage.

For example, let’s say your Cadillac CTS-V replacement cost is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would receive is $7,000 after the deductible is paid. If you are paying over $700 a year for physical damage coverage, then you might consider buying liability only.

There are some circumstances where only buying liability is not a good idea. If you haven’t paid off your loan, you must maintain physical damage coverage in order to keep the loan. Also, if you can’t afford to buy a different vehicle in case of an accident, you should not consider dropping full coverage.

Get Cheaper Insurance with These Tips

Many different elements are part of the calculation when pricing auto insurance. Most are fairly basic such as your driving record, although some other factors are less apparent such as your credit history or your financial responsibility. One of the most helpful ways to save on insurance is to to have a grasp of the different types of things that help calculate the level of your policy premiums. If you know what controls the rates you pay, this empowers consumers to make smart changes that can earn you lower insurance prices.

Battle of the sexes – Statistics have proven women tend to be less risk to insure than men. It does not mean females are better at driving than males. Men and women are responsible for fender benders at about the same rate, but the male of the species have costlier accidents. Not only are claims higher, but men get more serious tickets such as reckless driving.

The chart below visualizes the comparison of Cadillac CTS-V insurance costs for male and female drivers. The premiums are based on no claims or driving citations, comprehensive and collision coverage, $1,000 deductibles, single status, and no discounts are taken into consideration.

Vehicle features can affect insurance rates – Choosing to buy a car that has an advanced theft prevention system can save you some money. Anti-theft devices like OnStar, LoJack tracking, and tamper alarms help track and prevent your vehicle from being stolen.

Bad drivers pay high premiums – Having a single driving citation can boost insurance rates by as much as thirty percent. Attentive drivers get better prices as compared to those with violations. Drivers with multiple violations such as DUI or willful reckless driving are required to maintain a SR-22 with their state motor vehicle department in order to legally drive a vehicle.

The chart below shows how traffic citations and fender-benders drive up Cadillac CTS-V insurance prices for different age groups. The prices are based on a married female driver, comp and collision included, $1,000 deductibles, and no discounts are applied to the premium.

Lower annual miles equals lower premium – The higher the mileage driven annually the higher your rate. A lot of companies price each vehicle’s coverage determined by how the vehicle is used. Cars and trucks that are left in the garage get more affordable rates than cars that get driven a lot. An improperly rated CTS-V can cost quite a bit. It’s a smart idea to ensure your insurance coverage properly reflects the proper vehicle usage, because it can save money.

Safety ratings are a factor – Safe vehicles cost less to insure. Vehicles built for safety have better occupant injury protection and reduced instances of injuries translates into savings for insurance companies which can result in lower premiums. If your Cadillac has ratings of a minimum four stars on you may pay a lower rate.

Liability protection is peace of mind – Your insurance policy’s liability coverage will provide protection if you are responsible for physical damage or personal injury to other. Liability insurance provides you with a defense in court to attempt to prove you were not liable. This coverage is relatively inexpensive compared to insuring for physical damage coverage, so buy as much as you can afford.

Rental and towing coverage may not be needed – Insurance companies have many add-on coverages that sound like a good idea at the time if you aren’t diligent. Coverage for things like personal injury protection, high-cost glass coverage, and Farm Bureau memberships could be just wasting money. The coverages may be enticing when discussing your needs, but if they’re wasting money remove them and pocket the money.

Use one insurance company and save – Many insurance companies provide better rates to policyholders who carry more than one policy in the form of a multi-policy discount. Even if you qualify for this discount already, drivers will still want to get quotes from other companies to confirm you are receiving the best rates possible.There is a chance you can save more without the discount by buying from different companies

Cadillac CTS-V insurance loss statistics – Insurance companies use data from past claims to calculate a rate that will offset losses. Vehicles that the statistics show to have a higher amount or frequency of claims will have increased rates.

The information below illustrates the insurance loss data used by companies for Cadillac CTS-V vehicles. For each policy coverage, the claim probability for all vehicles, regardless of make, model or trim level, is a value of 100. Values that are under 100 mean the vehicle has better than average losses, while values over 100 indicate a higher chance of having a claim or statistically larger losses.

Insurance Loss Ratings for Cadillac CTS-V Vehicles
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Cadillac CTS-V 2dr 174 74 135

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

Auto insurance is not optional

Despite the potentially high cost of Cadillac CTS-V insurance, auto insurance serves several important purposes.

The benefits of buying enough insurance definitely exceed the cost, especially for larger claims. Today the average American driver is wasting up to $750 every year so it’s very important to do a rate comparison at every policy renewal to ensure rates are competitive.