Finding economical coverage for a Jeep Grand Cherokee is pretty straightforward, but it relies on a complex formula that considers things such as whether the vehicle is new, if you are a frequent claim filer, and any driving offenses on your record. Drivers in Texas pay approximately $980 annually for Grand Cherokee insurance, but that amount is an estimate based on a 40-year-old married male driver with both comprehensive and collision coverage and $500 deductibles.
When estimating a car insurance rate like we just did, the issue is that you aren’t exactly 40 years old or even a male, you might be single instead of married, or you just want cheap liability insurance instead of full coverage. Even a slight difference in the factors used in pricing a policy can make a large difference in the price of a policy.
Auto insurance requires individual risk assessment, so the best method for finding cheap insurance prices for your Jeep is to compare as many rates as you can. Quotes are free and you will be able to see rates from some of the cheapest companies around.
Vehicle trim level will most likely have an effect on the yearly cost, so the cost to insure a Grand Cherokee Laredo 2WD trim level will be $94 less expensive the cost to insure the more well-appointed Grand Cherokee SRT-8 4WD trim level, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Grand Cherokee Laredo 2WD||$218||$368||$392||$24||$118||$1,120||$93|
|Grand Cherokee Laredo 4WD||$218||$368||$392||$24||$118||$1,120||$93|
|Grand Cherokee Limited 2WD||$246||$434||$392||$24||$118||$1,214||$101|
|Grand Cherokee Limited 4WD||$246||$434||$392||$24||$118||$1,214||$101|
|Grand Cherokee SRT-8 4WD||$246||$434||$392||$24||$118||$1,214||$101|
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Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Rate quotes do not factor in specific garaging location which can impact auto insurance rates substantially.
Comparing rates for cheap insurance is difficult, and finding out which company quotes the cheapest insurance rates for a Jeep Grand Cherokee may require even more shopping around. Each insurance company uses a different method for filing rates in each state, so let’s begin by examining the most competitive insurance companies in Texas.
It’s important to know that Texas insurance rates are impacted by many factors that control the price you have to pay for coverage. That is why consumers need to spend some time comparing rates to get the lowest insurance quotes for a Jeep Grand Cherokee. Car insurance prices consist of many risk factors and change dramatically, so the most affordable company when you bought your policy may now be costing you a lot of money.
Cheap Insurance Rates for Your Jeep
Travelers quotes some of the most affordable car insurance rates in Lubbock at around $1,052 annually. This is $852 less than the average rate paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the lowest-priced Lubbock, TX insurance companies.
As depicted above, if you have coverage with Texas Farm Bureau and switched to Travelers, you might achieve annual savings of approximately $147. Drivers with Germania Mutual might save as much as $204 a year, and Esurance customers might see rate reductions of $369 a year.
To find the cheapest coverage for you, click here to start your custom quote or visit any of the low-priced companies below.
Bear in mind that those estimates are averages across all types of drivers and the different vehicles they drive and do not take into consideration an exact location for a Jeep Grand Cherokee. So the company that fits your age and vehicle best may not even be in the top 23 companies shown above. That helps illustrate why you need to compare rates from as many companies as possible using your own driver data and vehicle information.
Does it make sense to buy full coverage?
Saving money on insurance is the goal of most drivers, and a good way to buy cheap insurance for a Jeep Grand Cherokee is to only buy liability insurance. The diagram below shows the difference between car insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Texas. The premiums assume a clean driving record, no claims, $250 deductibles, drivers are not married, and no discounts are taken into consideration.
Averaged for all age groups, physical damage insurance costs an extra $2,370 per year more than buying just liability insurance. That is a significant amount which raises the question if buying full coverage is a waste of money. There is no definitive rule for eliminating physical damage coverage, but there is a guideline you can use. If the annual cost of coverage is more than about 10% of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
For example, let’s pretend your vehicle’s replacement cost is $12,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, you would only receive $11,000 after the deductible is paid. If you are paying in excess of $1,100 a year for comprehensive and collision coverage, then you may need to consider dropping full coverage.
There are a few cases where buying only liability insurance is not financially feasible. If you still have a loan on your vehicle, you must maintain physical damage coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not opt for liability only.
Discounts on Lubbock insurance rates
Car insurance companies that provide policies for a Jeep Grand Cherokee may provide premium discounts that may potentially lower prices by 30% or more if you are eligible to receive them. A list of companies and their possible discounts are outlined below.
- Mercury Insurance may include discounts for type of vehicle, multi-car, anti-theft, good student, and location of vehicle.
- Farmers Insurance may have discounts that include distant student, switch companies, business and professional, mature driver, electronic funds transfer, and homeowner.
- Farm Bureau offers discounts for renewal discount, safe driver, 55 and retired, multi-vehicle, and good student.
- State Farm offers premium reductions for driver’s education, safe vehicle, Drive Safe & Save, good driver, Steer Clear safe driver discount, passive restraint, and defensive driving training.
- Allstate discounts include anti-lock brakes, senior citizen, early signing, defensive driver, and new car.
- GEICO has discounts for multi-vehicle, military active duty, emergency military deployment, federal employee, and good student.
The diagram below illustrates the comparison of insurance costs with and without discounts applied. The price estimates are based on a female driver, no tickets, no at-fault accidents, Texas state minimum liability limits, comprehensive and collision coverage, and $250 deductibles.
The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with homeowner, accident-free, anti-theft, passive restraint, safe-driver, and marriage discounts applied. When drivers qualify for the discounts, the average amount saved each year on insurance for a Jeep Grand Cherokee is 28% or $624.
How to find economical auto insurance for a Jeep Grand Cherokee
Here are many money-saving suggestions that can help Texas drivers locate low-cost coverage.
- Maintain a safe distance and avoid accidents
- Avoid getting citations and tickets
- Buying car and homeowners insurance together can save money
- Raise comprehensive and collision coverage deductibles
- Clean up your credit
- Avoid filing small claims
- Compare rate quotes frequently
The final tip is extraordinarily significant, as we stressed in this piece. Car insurance rates fluctuate constantly, so don’t be tentative to change to a new company if you find a better deal. Brand loyalty is great, but is isn’t recommended if that inflexibility results in costing you thousands of dollars over several years. It only takes a couple minutes to shop around and find cheaper auto insurance for a Jeep Grand Cherokee in Lubbock.