Dodge Charger insurance image courtesy of QuoteInspector.com
It's safe to assume that car insurance companies don't want policyholders to compare prices from other companies. Consumers who shop around for the cheapest price are highly likely to buy a different policy because they have good chances of finding coverage at a cheaper rate. A study discovered that drivers who make a habit of shopping around saved an average of $860 a year compared to people who didn't regularly shop around.
If finding the most affordable Dodge Charger insurance in Buffalo is why you're here, then learning a little about the best way to shop and compare auto insurance can make shopping around easier.
It takes a few minutes, but the best way to get budget Dodge Charger insurance is to compare prices at least once a year from insurance carriers in Buffalo. This can be done by completing these steps.
- Step 1: Try to understand how insurance companies determine prices and the changes you can make to prevent high rates. Many risk factors that are responsible for high rates such as speeding tickets, accidents and an imperfect credit rating can be remedied by being financially responsible and driving safely.
- Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give prices from a single company like GEICO or Farmers Insurance, while independent agencies can provide prices from multiple insurance companies.
- Step 3: Compare the price quotes to your existing policy and see if there is a cheaper rate in Buffalo. If you find better rates and change companies, verify that coverage does not lapse between policies.
The key aspect of shopping around is to try to use the same level of coverage on each quote and and to look at as many auto insurance providers as possible. Doing this guarantees an accurate price comparison and the best price selection.
Finding the cheapest coverage in Buffalo is quite easy. Essentially every car owner who needs more affordable car insurance stands a good chance to get a lower-priced policy. Although New York consumers do need to understand the way insurance companies calculate their prices because it can help you find the best coverage.
Rates and other information
The coverage information shown below showcases detailed analysis of insurance costs for Dodge Charger models. Being more informed about how insurance prices are established can help you make smart choices when comparing insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Charger 3.5 AWD||$198||$338||$312||$18||$94||$960||$80|
|Charger SXT AWD||$198||$338||$312||$18||$94||$960||$80|
|Charger Rallye AWD||$198||$388||$312||$18||$94||$1,010||$84|
|Charger R/T AWD||$218||$388||$312||$18||$94||$1,030||$86|
|Get Your Own Custom Quote Go|
Table data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and New York minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Information does not factor in specific garaging location which can alter coverage rates greatly.
Rate comparison of full coverage and liability-only
The example below compares Dodge Charger insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The prices are based on no claims, a clean driving record, $100 deductibles, single marital status, and no policy discounts are applied.
Should you pay for full coverage?
There is no definitive rule of when to eliminate full coverage, but there is a general convention. If the yearly cost for physical damage coverage is more than 10% of replacement cost minus your deductible, then it may be the right time to buy liability only.
For example, let's pretend your Dodge Charger replacement cost is $3,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would get paid by your company is $2,000 after paying the physical damage deductible. If you are currently paying more than $200 annually for your policy with full coverage, then it might be time to consider dropping full coverage.
There are some cases where removing full coverage is not in your best interest. If you still have a loan on your vehicle, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should keep full coverage.
The Dodge Charger Insurance Rate Equation
Multiple criteria are used in the calculation when you get your auto insurance bill. Some of the criteria are obvious such as traffic violations, although others are less apparent like your vehicle usage or how safe your car is.
The factors shown below are some of the most rate-impacting factors car insurance companies consider when setting your rates.
High deductibles cost less - Coverage for physical damage, also known as collision and other-than-collision, protects your Dodge from damage. Some examples of claims that would be covered are a windshield shattered by a rock, damage caused by hail, and damage from a fallen tree branch. The deductibles represent how much money you are required to spend before a claim is paid by your company. The more you have to pay, the bigger discount you will receive.
What type of car, truck or SUV do you drive? - The performance level of the vehicle you are buying insurance for makes a significant difference in your auto insurance rates. The cheapest insurance rates tend to be for smaller low performance passenger vehicles, but the cost you end up paying is determined by many additional factors.
The data below assumes a single male driver age 30, full coverage with $250 deductibles, and no discounts or violations. It illustrates Dodge Charger policy rates compared to other vehicles that have a range of performance risks.
Save money by having responsible credit - Credit score can be an important factor in your rate calculation. Drivers with high credit ratings tend to be better drivers and file fewer claims as compared to drivers with bad credit. So if your credit is lower than you'd like, you could potentially save money when insuring your Dodge Charger by improving your rating.
Remove unneeded add-on coverages - There are quite a few additional extra coverages that can waste your money on your car insurance policy. Coverages like coverage for rental cars, accident forgiveness, and term life insurance are examples of these. They may seem like a good idea when you first buy your policy, but if you don't need them eliminate them to save money.
Youthful drivers cost more - Older people have been proven to be more responsible, cost insurance companies less in claims, and usually have better credit. Beginning drivers have been known to be easily distracted when driving with friends therefore car insurance rates are much higher.
The data below uses these variables: single driver, full coverage with $500 deductibles, and no discounts or violations.
Women pay lower costs - Statistics demonstrate that females tend to be a little less risky than males. However, don't assume that females are better drivers. Both genders cause auto accidents in similar percentages, but guys get into accidents with more damage. Men also statistically get higher numbers of serious violations such as driving while intoxicated (DWI) or driving recklessly.
The example below illustrates the difference between Dodge Charger insurance premiums for male and female drivers. The data assumes a clean driving record, no at-fault accidents, full physical damage coverage, $1,000 deductibles, marital status is single, and no discounts are taken into consideration.
Liability limits are a factor - A critical coverage on your policy, liability insurance is the coverage that protects you if ever you are found to be at fault for physical damage or personal injury to other. It provides for a legal defense to attempt to prove you were not liable. This coverage is very inexpensive compared to physical damage coverage, so buy as much as you can afford.
Insurance loss statistics a Dodge Charger - Insurers factor in insurance loss information to determine a rate that will be profitable for them. Vehicles that statistically have a trend towards higher claims will have higher rates.
The table shown below demonstrates the historical insurance loss data for Dodge Charger vehicles. For each coverage type, the claim amount for all vehicles, without regard to make or model, is a value of 100. Percentages below 100 imply a favorable loss record, while values that are above 100 indicate a higher chance of having a claim or an increased chance of larger losses than average.
|Specific Dodge Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Dodge Charger 2WD||148||142||160||176||178||159|
|Dodge Charger 4WD||124||129||115||107||110||138|
|Dodge Charger HEMI||156||106||202||118||127||111|
Statistics from IIHS.org for 2013-2015 Model Years
Be persistent and save
Insureds change insurance companies for many reasons like being labeled a high risk driver, delays in responding to claim requests, policy cancellation or unfair underwriting practices. Whatever your reason, finding a great new company is not as hard as you think.
We covered a lot of techniques to save on Dodge Charger insurance in Buffalo. It's most important to understand that the more rate comparisons you have, the higher your chance of finding cheaper Buffalo car insurance quotes. You may even discover the most savings is with the least-expected company.
Budget-conscious Dodge Charger insurance can be purchased on the web and also from your neighborhood Buffalo agents, and you need to comparison shop both to get a complete price analysis. Some companies may not provide online price quotes and many times these small insurance companies provide coverage only through local independent agencies.
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