Cheapest Dodge Charger Insurance in Lubbock

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Dodge Charger insurance
Dodge Charger insurance image courtesy of QuoteInspector.com

Discount Dodge Charger insuranceThe recommended way to quote cheaper car insurance rates in Lubbock is to do a yearly price comparison from companies in Texas.

  1. Read about car insurance and the things you can control to prevent expensive coverage. Many factors that result in higher rates such as tickets, at-fault accidents, and an unacceptable credit score can be rectified by making minor changes to your lifestyle. Continue reading for additional ideas to get low prices and find hidden discounts.
  2. Get rate quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only quote rates from one company like Progressive or Farmers Insurance, while independent agents can quote rates for many different companies. View prices
  3. Compare the new rate quotes to your existing coverage to see if a cheaper price is available in Lubbock. If you find a better price and make a switch, verify that coverage does not lapse between policies.
  4. Give notification to your current company to cancel your current policy and submit payment and a completed application to the newly selected company. Once the application is submitted, keep the new certificate verifying proof of insurance in an accessible location in your vehicle.

One thing to point out is to make sure you're comparing the same liability limits and deductibles on every quote and and to get prices from as many companies as possible. Doing this provides a fair rate comparison and a complete price analysis.

Everyone knows that insurance companies don't want their policyholders to compare prices. People who shop around for the cheapest price will presumably buy a new policy because there is a high probability of finding a lower rate. Remarkably, a study showed that consumers who routinely shopped for cheaper coverage saved $72 a month as compared to drivers who never shopped around for cheaper prices.

If finding the cheapest price for insurance is your ultimate objective, understanding how to choose a company and compare insurance coverage can save time and make the process easier.

Locating the most cost-effective auto insurance policy in Lubbock is quite easy. If you already have coverage or need a new policy, use these tips to buy cheaper auto insurance and still have adequate protection. You only need to know the quickest method to compare rates on the web.

The companies shown below offer free rate quotes in Lubbock, TX. To locate cheap auto insurance in Lubbock, TX, it's highly recommended you visit several of them to get a more complete price comparison.

Dodge Charger insurance analysis

The coverage information shown below outlines detailed analysis of insurance coverage prices for Dodge Charger models. Having a good grasp of how rate quotes are formulated can help drivers make informed decisions when shopping around for a new policy.

Dodge Charger Insurance Rates in Lubbock, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Charger 3.5 $318 $572 $500 $30 $150 $1,570 $131
Charger $318 $572 $500 $30 $150 $1,570 $131
Charger AWD $318 $572 $500 $30 $150 $1,570 $131
Charger 3.5 AWD $318 $572 $500 $30 $150 $1,570 $131
Charger SXT $318 $572 $500 $30 $150 $1,570 $131
Charger SXT AWD $318 $572 $500 $30 $150 $1,570 $131
Charger Rallye $318 $572 $500 $30 $150 $1,570 $131
Charger R/T $318 $660 $500 $30 $150 $1,658 $138
Charger Rallye AWD $318 $660 $500 $30 $150 $1,658 $138
Charger R/T AWD $350 $660 $500 $30 $150 $1,690 $141
Charger SRT-8 $350 $660 $500 $30 $150 $1,690 $141
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Prices above based on married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Prices do not factor in specific zip code location which can lower or raise rates significantly.

Higher deductibles lower rates

When comparing insurance rates, the most common question is the level to set your comp and collision deductibles. The rates below approximate the rate fluctuation between low and high comp and collision deductibles. The first table uses a $100 comprehensive and collision deductible and the second set of prices uses a $500 deductible.

Dodge Charger insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Charger 3.5 $412 $698 $476 $28 $142 $1,781 $148
Charger $412 $698 $476 $28 $142 $1,781 $148
Charger AWD $412 $698 $476 $28 $142 $1,781 $148
Charger 3.5 AWD $412 $698 $476 $28 $142 $1,781 $148
Charger SXT $412 $698 $476 $28 $142 $1,781 $148
Charger SXT AWD $412 $698 $476 $28 $142 $1,781 $148
Charger Rallye $412 $698 $476 $28 $142 $1,781 $148
Charger R/T $412 $804 $476 $28 $142 $1,887 $157
Charger Rallye AWD $412 $804 $476 $28 $142 $1,887 $157
Charger R/T AWD $454 $804 $476 $28 $142 $1,929 $161
Charger SRT-8 $454 $804 $476 $28 $142 $1,929 $161
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Dodge Charger insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Charger 3.5 $300 $472 $476 $28 $142 $1,418 $118
Charger $300 $472 $476 $28 $142 $1,418 $118
Charger AWD $300 $472 $476 $28 $142 $1,418 $118
Charger 3.5 AWD $300 $472 $476 $28 $142 $1,418 $118
Charger SXT $300 $472 $476 $28 $142 $1,418 $118
Charger SXT AWD $300 $472 $476 $28 $142 $1,418 $118
Charger Rallye $300 $472 $476 $28 $142 $1,418 $118
Charger R/T $300 $542 $476 $28 $142 $1,488 $124
Charger Rallye AWD $300 $542 $476 $28 $142 $1,488 $124
Charger R/T AWD $332 $542 $476 $28 $142 $1,520 $127
Charger SRT-8 $332 $542 $476 $28 $142 $1,520 $127
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Information does not factor in Lubbock location which can revise rates greatly.

Based on this data, using a $100 deductible will cost in the ballpark of $31 more each month or $372 each year averaged for all Charger models than quoting the higher $500 deductible. Due to the fact that you would have to pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you tend to average more than 13 months between claims, you would probably save some money if you opt for a higher deductible. Here's the way this determination is made.

Average monthly premium for $100 deductibles: $152
Average monthly premium for $500 deductibles (subtract): - $121
Monthly savings from raising deductible: $31
Difference between deductibles ($500 - $100): $400
Divide difference by monthly savings: $400 / $31
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 13 months

One important note is that a higher deductible means you will have to pay more out-of-pocket if you have a claim. That will force you to have enough savings in the event you have to pay the deductible for vehicle repair.

Dodge Charger liability-only versus full coverage

The chart below shows the comparison of Dodge Charger yearly insurance costs with full coverage and liability only. The information is based on no tickets, no at-fault accidents, $500 deductibles, single status, and no additional discounts are factored in.

When to drop comp and collision

There is no exact formula to stop paying for comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the annual cost of coverage is more than around 10% of the vehicle's replacement cost less your deductible, then it's probably a good time to buy liability coverage only.

For example, let's assume your Dodge Charger replacement cost is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, you would only receive $8,000 after you pay the deductible. If you are paying more than $800 a year for comprehensive and collision coverage, then it's probably a good time to buy liability coverage only.

There are some cases where eliminating full coverage is not recommended. If you still owe money on your vehicle, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.

Car insurance is not optional

Despite the high cost of buying insurance for a Dodge Charger in Lubbock, paying for car insurance may be mandatory for several reasons.

  • Almost all states have minimum mandated liability insurance limits which means state laws require 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.
  • If your vehicle has a loan, it's guaranteed your bank will stipulate that you have physical damage coverage to ensure loan repayment if the vehicle is totaled. If the policy lapses, the bank may insure your Dodge at a more expensive rate and force you to reimburse them the higher price.
  • Insurance safeguards both your Dodge Charger and your personal assets. Insurance will pay for most medical and hospital costs for you, your passengers, and anyone else injured in an accident. As part of your policy, liability insurance also pays for attorney fees and expenses if you are sued as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will pay to repair the damage.

The benefits of having car insurance definitely exceed the cost, especially for larger claims. On average, a vehicle owner in Lubbock is currently overpaying as much as $865 each year so you should quote and compare rates each time the policy renews to save money.

How Your Charger Insurance Costs are Determined

Lots of things are used when pricing auto insurance. Some factors are common sense like your driving record, although some other factors are more transparent such as whether you are married or your commute time. A large part of saving on car insurance is knowing a few of the rating criteria that go into determining your policy premiums. If you have some idea of what controls the rates you pay, this enables you to make decisions that could help you find cheaper rates.

Limits of liability protection - A critical coverage on your policy, liability insurance provides coverage when you are determined to be liable for physical damage or personal injury to other. Liability insurance provides legal defense to defend your case. Liability is cheap as compared to coverage for physical damage, so drivers should buy more than the minimum limits required by law.

Raising deductibles lowers prices - Deductibles for physical damage define how much you are willing to pay out-of-pocket before a claim is paid by your company. Protection for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, insures against damage to your car. Examples of covered claims would be rear-ending another vehicle, animal collisions, and damage from wind. The more money the insured has to pay upfront, the lower your rates will be.

Can a thief steal your car? - Purchasing a vehicle with anti-theft technology or alarm system can save you a little every year. Systems that thwart thieves such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent car theft and help bring rates down.

Compare rates if you consolidate your policies - Most larger companies will give a discount to people who carry more than one policy. It's known as a multi-policy discount. The discount can be ten or even up to twenty percent in some cases. Even with this discount, you may still want to get quotes from other companies to make sure you are getting the best deal.There is a good possibility that you can save more without the discount by buying insurance from more than one company.

Extra policy coverages can cost a lot - There are many add-on coverages that you can get tricked into buying if you aren't diligent. Insurance for things like rental car reimbursement, accident forgiveness, and Farm Bureau memberships are some examples. These may sound like a good investment when talking to your agent, but if you don't need them think about removing them and cutting costs.

Pay more if you have a long commute - Being located in a rural area may provide you with better prices when shopping for auto insurance. People who live in big cities regularly have traffic congestion and longer commute times. Fewer drivers on the road means less chance of accidents in addition to fewer liability claims.

Know your vehicle's NHTSA crash test rating - Cars with high safety ratings get lower rates. Safe vehicles reduce injuries and reduced instances of injuries translates directly to fewer claims and cheaper rates on your policy.

Dodge Charger historical loss data - Auto insurance companies analyze past claim statistics to help determine the rate you pay. Models that have a trend towards higher claims will cost more for specific coverages. The next table illustrates the historical insurance loss data for Dodge Charger vehicles.

For each type of coverage, the claim amount for all vehicles, without regard to make or model, equals 100. Values under 100 suggest a positive loss record, while numbers that are greater than 100 show a trend for more claims or an increased probability of a larger loss.

Dodge Charger Insurance Loss Statistics
Vehicle Make and 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
BETTER
AVERAGE
WORSE

Statistics from IIHS.org for 2013-2015 Model Years

Lubbock auto insurance companies ranked

Finding the right company can be challenging considering how many different insurance companies sell coverage in Texas. The ranking information shown next may help you choose which coverage providers to look at when comparing rate quotes.

Top 10 Lubbock Car Insurance Companies Ranked by Customer Service

  1. USAA
  2. Travelers
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Safeco Insurance
  7. Progressive
  8. State Farm
  9. The Hartford
  10. The General

Top 10 Lubbock Car Insurance Companies Ranked by Customer Satisfaction

  1. USAA - 91%
  2. AAA Insurance - 90%
  3. Esurance - 90%
  4. Mercury Insurance - 89%
  5. Nationwide - 89%
  6. Travelers - 88%
  7. Progressive - 88%
  8. Safeco Insurance - 88%
  9. State Farm - 88%
  10. Allstate - 88%

Find cheap rates by being thorough

We've covered many tips how you can compare Dodge Charger insurance premium rates in Lubbock. The key thing to remember is the more rate quotes you have, the better likelihood of getting affordable Dodge Charger insurance quotes. You may even find the lowest priced car insurance comes from the smaller companies. These smaller insurers may cover specific market segments cheaper compared to the large companies like GEICO and State Farm.

While you're price shopping online, never sacrifice coverage to reduce premiums. Too many times, an insured cut comprehensive coverage or liability limits only to discover later that it was a big error on their part. Your goal is to purchase a proper amount of coverage at the lowest possible cost, but do not sacrifice coverage to save money.

More information can be read at the links below