It’s safe to conclude that auto insurance companies don’t want you shop around. Consumers who compare rates once a year are likely to switch companies because they have good chances of finding discount prices. A study discovered that people who compared rates annually saved on average $865 a year compared to policyholders who never compared other company’s rates.
If finding the lowest price on auto insurance in Lubbock is your goal, then having some insight into how to shop and compare insurance premiums can save time, money, and frustration.
Truthfully, the best way to find low-cost car insurance rates in Lubbock is to annually compare prices from companies in Texas. You can compare rates by completing these steps.
First, get an understanding of what is in your policy and the things you can control to keep rates in check. Many things that increase rates such as getting speeding tickets and an imperfect credit history can be rectified by improving your driving habits or financial responsibility. Read the full article for more ideas to help prevent high rates and get bigger discounts.
Second, compare price quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can provide rates from a single company like Progressive or Farmers Insurance, while independent agencies can provide rate quotes from multiple insurance companies. View a list of agents
Third, compare the new rate quotes to your existing rates to see if cheaper Touareg coverage is available. If you find a lower rate quote and switch companies, make sure coverage is continuous and does not lapse.
Fourth, give notification to your current company of your intention to cancel the current policy. Submit a completed policy application and payment to the new company. Don’t forget to keep your new certificate verifying proof of insurance in an accessible location in your vehicle.
One key aspect of rate comparisons is to compare identical coverage information on every quote request and and to compare as many auto insurance providers as possible. This provides an apples-to-apples comparison and the best rate selection.
Getting a cheaper price on Volkswagen Touareg insurance is surprisingly easy. Drivers just need to invest a little time to compare rates provided by online insurance companies.
Doing price comparisons online is so simple that it replaces the need to drive around to each insurance agency near you. The ability to buy insurance online makes this unnecessary unless you have a complicated situation and need the trained guidance only provided by licensed Lubbock agents. It is possible to comparison shop online and have a local agent actually service the policy.
The companies shown below offer price comparisons in Lubbock, TX. If your goal is to find cheaper auto insurance in Lubbock, TX, we suggest you visit two to three different companies to get the best price comparison.
Reduce your car insurance rates with discounts
Some companies don’t list the complete list of policy discounts in a way that’s easy to find, so here is a list some of the more common and the more hidden credits that may apply to you. If you aren’t receiving every discount you deserve, you are paying more than you should be.
- Good Student Discount – Performing well in school could provide a savings of up to 20% or more. Many companies even apply the discount to college students up to age 25.
- Pay Early and Save – By paying your policy upfront rather than paying in monthly installments you may have a lower total premium amount.
- Low Mileage – Keeping the miles down on your Volkswagen could be rewarded with better prices on cars that stay parked.
- Data Collection Discounts – Drivers that enable data collection to monitor driving patterns by using a telematics device in their vehicle like In-Drive from State Farm and Progressive’s Snapshot might see lower rates if they show good driving skills.
- Anti-theft System – Vehicles that have factory alarm systems and tracking devices are stolen less frequently so companies will give you a small discount.
- Accident Free – Good drivers with no accidents can earn big discounts compared to accident-prone drivers.
- Responsible Driver Discount – Insureds without accidents can get discounts for up to 45% lower rates compared to rates paid by drivers with frequent claims.
- Lower Rates for Military – Having a deployed family member could trigger a small discount.
One last thing about discounts, most discounts do not apply to the overall cost of the policy. Some only reduce the price of certain insurance coverages like medical payments or collision. Even though it appears you could get a free car insurance policy, that’s just not realistic. Any amount of discount should help reduce the premium cost.
The example below compares Volkswagen Touareg yearly insurance costs with and without discounts applied to the policy premium. Data assumes a male driver, no claims or violations, Texas 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 multi-car, multi-policy, claim-free, safe-driver, homeowner, and marriage discounts applied.
To see a list of insurance companies who offer discounts in Texas, follow this link.
Analysis of coverages
The price information shown below covers different insurance premium costs for Volkswagen Touareg models. Having a better understanding of how insurance quotes are figured can aid in making smart choices when comparing insurance quotes.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Touareg 3 Turbo Diesel AWD 4-Dr||$176||$352||$358||$22||$108||$1,016||$85|
|Touareg 3.6 AWD 4-Dr||$176||$352||$358||$22||$108||$1,016||$85|
|Get Your Own Custom Quote Go|
Table data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Premium amounts do not factor in vehicle garaging location which can influence premiums substantially.
Rate increases following a ticket or accident
The diagram below demonstrates how citations and fender-benders increase Volkswagen Touareg auto insurance rates for each different age group. The rate quotes are based on a single female driver, comp and collision included, $100 deductibles, and no additional discounts are factored in.
Difference between liability only and full coverage rates
The illustration below shows the difference between Volkswagen Touareg insurance costs when comparing full coverage to liability only. The premiums assume no violations or claims, $500 deductibles, drivers are single, and no discounts are applied to the premium.
When to drop comp and collision
There is no exact formula of when to stop paying for full coverage, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is about 10% or more of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.
For example, let’s pretend your Volkswagen Touareg replacement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $7,000 after paying your deductible. If you are paying in excess of $700 a year to have full coverage, then you might want to consider buying only liability coverage.
There are a few situations where only buying liability is not in your best interest. If you still have a loan on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.
Local Lubbock car insurance agents and auto insurance
Many people would prefer to have an agent’s advice and doing that can be a smart decision Good insurance agents can help determine the best coverages and help in the event of a claim. A good thing about comparing rates online is you can get cheap auto insurance quotes and also buy local. Buying from neighborhood agents is important particularly in Lubbock.
To find an agent, once you fill out this form (opens in new window), the coverage information is immediately sent to local insurance agents in Lubbock that give free quotes for your business. There is no reason to contact an agency due to the fact that quote results will go immediately to you. If you wish to compare prices from a particular provider, you can always find their quoting web page and submit a quote form there.
When looking for a local insurance agency, it’s important to understand the types of agencies and how they function. Auto insurance agents in Lubbock are classified as either exclusive or independent. Either type can handle auto insurance, but it is a good idea to know the difference between them because it can influence buying decisions.
Independent Auto Insurance Agents (or Brokers)
Agents that choose to be independent are not employed by any specific company and that enables them to quote your coverage with many different companies and find you cheaper rates. If they quote lower rates, they simply switch companies in-house and you won’t have to switch agencies. If you are comparing rate quotes, it’s recommended you get some free quotes from several independent agencies to have the most options to choose from.
The following is a small list of independent insurance agencies in Lubbock that can give you pricing information.
Agents that choose to be exclusive normally can only provide a single company’s rates such as State Farm or Allstate. Exclusive agents cannot give you multiple price quotes so they are skilled at selling on more than just price. Exclusive agents are trained well on their company’s products which helps them sell on service rather than price.
Below is a list of exclusive agents in Lubbock who can help you get price quote information.
Finding a good car insurance agent shouldn’t rely on just the quoted price. The following questions are important to ask.
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- Do they prorate repair cost based on vehicle mileage?
- Is there a 24/7 contact number?
- Is insurance their full-time profession?
- Does the agency have a current Errors and Omissions policy?
- Where would your vehicle be repaired?
- Do you work with a CSR or direct with the agent?
- How many years of experience in personal auto insurance do they have?
What insurance coverages do I need?
When choosing proper insurance coverage, there really is not a perfect coverage plan. Each situation is unique.
Here are some questions about coverages that may help you determine if your situation would benefit from an agent’s advice.
- Are my company tools covered if they get stolen?
- Which is better, split liability limits or combined limits?
- Is my babysitter covered when using my vehicle?
- Is other people’s property covered if stolen from my vehicle?
- Do all my vehicles need collision coverage?
- What are the liability requirements in my state?
If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to a licensed agent. If you don’t have a local agent, take a second and complete this form. It’s fast, free and can provide invaluable advice.
What Determines Volkswagen Touareg Insurance Costs?
A large part of saving on car insurance is knowing a few of the rating criteria that are used to determine the price you pay for car insurance. If you know what determines premiums, this empowers consumers to make smart changes that may reward you with much lower annual insurance costs.
Better premiums on safer cars – Vehicles with high crash test scores tend to be cheaper to insure. Highly rated vehicles protect occupants better and better occupant protection translates directly to fewer claims and cheaper rates on your policy. If your Volkswagen Touareg earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may be receiving a better rate.
Do you save by driving less? – The higher the miles on your Volkswagen in a year the more you’ll pay to insure your vehicle. A lot of companies calculate prices based on their usage. Cars that do not get driven very much can get a lower rate than vehicles that have high annual mileage. Incorrect rating for your Touareg may be costing you. It’s always a good idea to double check that your car insurance declarations sheet is rated on the correct usage for each vehicle, because it can save money.
Fast cars cost more to insure – The performance level of the car you need to insure makes a huge difference in your auto insurance rates. Low performance passenger cars receive the most favorable rates, but other factors influence the final cost greatly.
The next chart is based on a married male driver age 40, full coverage with $250 deductibles, and no discounts or violations. It illustrates Volkswagen Touareg insurance premiums compared to other models of vehicles that have different performance risks.
Lower rates with alarms and GPS tracking – Selecting a car model with anti-theft technology or alarm system can earn a premium discount. Systems that thwart thieves such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all aid in stopping auto theft and help lower rates.
Save money by having responsible credit – Having a bad credit score can be a huge factor in determining what you pay. So if your credit score can be improved, you could pay less to insure your Volkswagen Touareg if you clean up your credit. Drivers who have excellent credit scores tend to be less risk to insure than drivers who have lower credit ratings.
Don’t cut corners with liability protection – The liability section of your policy will afford coverage if ever you are found liable for damages caused by your negligence. It provides legal defense coverage starting from day one. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so do not cut corners here.
Decrease premiums by maintaining coverage – Driving with no insurance can get your license suspended and companies may charge more for letting your insurance lapse. And not only will insurance be more expensive, failure to provide proof of insurance could earn you fines and jail time.
Premiums are high for teenagers – Drivers with little experience are proven to be more careless behind the wheel and because of this, their car insurance rates are much higher. Older, more experienced drivers are viewed as being more responsible, cause fewer claims and accidents, and get fewer tickets.
The data below is based on a single driver, full coverage with $250 deductibles, and no discounts or violations.
Insurance losses for a Volkswagen Touareg – Insurance companies analyze claim trends for every vehicle when they set coverage costs for each model. Models that tend to have high amounts or severity of claims will cost more for specific coverages. The table below demonstrates the actual insurance loss data for Volkswagen Touareg vehicles.
For each coverage type, the statistical loss for all vehicles averaged together is considered to be 100. Numbers under 100 suggest losses that are better than average, while percentage numbers above 100 point to more losses or tendency to have higher losses.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Volkswagen Touareg 4dr 4WD||131||115||133||56||65||87|
Statistics from IIHS.org for 2013-2015 Model Years
Choosing the best Touareg insurance in Texas is an important decision
Even though it can be expensive, buying car insurance is required in Texas but also provides important benefits.
First, most states have mandatory liability insurance requirements which means you are required to carry a minimum amount of liability protection in order to license the vehicle. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if you have a loan on your Touareg, almost every bank will require you to have comprehensive coverage to guarantee their interest in the vehicle. If the policy lapses, the lender may have to buy a policy to insure your Volkswagen for a much higher rate and force you to pay for it.
Third, insurance protects not only your Volkswagen but also your assets. It will also reimburse you for all forms of medical expenses for you, any passengers, and anyone injured in an accident. Liability insurance will also pay attorney fees if someone files suit against you as the result of an accident. If you have damage to your Volkswagen as the result of the weather or an accident, collision and comprehensive coverages will pay all costs to repair after the deductible has been paid.
The benefits of carrying adequate insurance greatly outweigh the cost, particularly for liability claims. The average driver in America is overpaying over $825 a year so smart consumers compare quotes at every policy renewal to ensure rates are competitive.
Best auto insurance company in Texas
Picking a good quality auto insurance provider is hard considering how many choices drivers have in Lubbock. The company ratings below can help you decide which car insurance companies you want to consider purchasing from.
Top 10 Lubbock Car Insurance Companies Ranked by Value
- Mercury Insurance
- American Family
- AAA Insurance
- Safeco Insurance
- The Hartford
- The General
- 21st Century
You can find affordable coverage
We just showed you a lot of ways to shop for Volkswagen Touareg insurance online. The most important thing to understand is the more you quote Lubbock car insurance, the better your chances of lowering your prices. You may even find the best premium rates are with a company that doesn’t do a lot of advertising.
Some insurance companies don’t offer rate quotes online and these small, regional companies provide coverage only through local independent agencies. Lower-priced Volkswagen Touareg insurance in Lubbock is definitely available online and with local Lubbock insurance agents, and you need to price shop both to get a complete price analysis.
As you shop your coverage around, do not skimp on critical coverages to save a buck or two. There are a lot of situations where consumers will sacrifice comprehensive coverage or liability limits and learned later that it was a big mistake. Your goal should be to get the best coverage possible for the lowest cost while not skimping on critical coverages.
- Property Damage Coverage (Liberty Mutual)
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- Reducing Your Risks in a Car Crash Video (iihs.org)
- Self-driving cars won’t replace humans (Insurance Institute for Highway Safety)