Cheapest Insurance for a Saab 9-5 in Lubbock

Insurance rates Saab 9-5 in LubbockThe easiest way to get the cheapest car insurance rates in Lubbock is to start doing an annual price comparison from companies that sell auto insurance in Texas.

  1. Gain an understanding of policy coverages and the steps you can take to keep rates down. Many factors that result in higher prices such as multiple speeding tickets and a lousy credit rating can be remedied by making minor driving habit or lifestyle changes. This article gives tips to keep prices down and get discounts that may be overlooked.
  2. Compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give prices from a single company like GEICO or State Farm, while independent agencies can provide price quotes from multiple sources.
  3. Compare the price quotes to the premium of your current policy to see if a cheaper price is available. If you can save money and switch companies, make sure there is no lapse in coverage.
  4. Provide proper notification to your current company of your intent to cancel your existing policy. Submit a down payment and signed policy application to your new company or agent. When you receive it, place your new certificate of insurance in your glove compartment.

One important bit of advice is that you’ll want to compare similar limits and deductibles on each price quote and and to look at as many companies as you can. Doing this guarantees a level playing field and a good representation of prices.

It’s easy to assume that insurance companies want to keep you from shopping around. Drivers who shop around annually will, in all likelihood, switch to a new company because of the high probability of finding coverage at a more affordable price. A recent insurance study discovered that drivers who shopped around annually saved on average $3,500 over four years compared to those who never compared other company’s rates.

If finding the lowest price on Saab 9-5 insurance is why you’re reading this, then having an understanding of the best way to shop and compare auto insurance can help make the process easier and more efficient.

Data for Saab 9-5 insurance

The coverage information displayed below showcases different insurance coverage prices for Saab 9-5 models. Learning as much as possible about how insurance prices are formulated can assist in making smart buying decisions.

Saab 9-5 Insurance Rates in Lubbock, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
9-5 Aero XWD 4-Dr Sedan $280 $590 $514 $30 $154 $1,568 $131
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Prices above based on single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Premium costs do not factor in zip code location which can raise or lower premiums significantly.

Comparison of policy deductibles

When shopping for auto insurance, a common question is how high should the deductibles for physical damage be. The comparisons below can help illustrate how much more you’ll pay when you choose different physical damage coverage deductibles. The first rate comparisons uses a $250 deductible for physical damage and the second price table uses a $500 deductible.

Saab 9-5 insurance prices with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
9-5 Aero XWD 4-Dr Sedan $408 $762 $382 $22 $114 $1,713 $143
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Saab 9-5 insurance prices with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
9-5 Aero XWD 4-Dr Sedan $332 $614 $382 $22 $114 $1,464 $122
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Rate information does not factor in specific location information which can decrease or increase premium rates considerably.

We can derive from the above data that using a $250 deductible costs approximately $21 more each month or $252 each year than selecting the higher $500 deductible. Since the policyholder would be required to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you go at least 12 months between claims, you would probably come out ahead going with the higher deductible. Here is an example of how this decision is made.

Average monthly premium for $250 deductibles: $143
Average monthly premium for $500 deductibles (subtract): – $122
Monthly savings from raising deductible: $21
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $21
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 12 months

Car insurance policy coverages for a Saab 9-5

Understanding the coverages of car insurance can help you determine appropriate coverage for your vehicles. The terms used in a policy can be impossible to understand and nobody wants to actually read their policy. Listed below are the usual coverages available from car insurance companies.

Liability auto insurance – This can cover damage that occurs to other people or property by causing an accident. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 30/60/25 that means you have $30,000 bodily injury coverage, a limit of $60,000 in injury protection per accident, and $25,000 of coverage for damaged property. Another option is one limit called combined single limit (CSL) that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability can pay for things like bail bonds, repair costs for stationary objects, loss of income, attorney fees and medical services. The amount of liability coverage you purchase is a personal decision, but consider buying as high a limit as you can afford. Texas requires drivers to carry at least 30/60/25 but it’s recommended drivers buy higher limits.

The next chart shows why buying the state minimum limits may not be enough coverage.

Comprehensive insurance – Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers claims like hail damage, fire damage and rock chips in glass. The highest amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Collision coverage – Collision coverage will pay to fix damage to your 9-5 resulting from a collision with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for things such as colliding with another moving vehicle, sideswiping another vehicle and crashing into a ditch. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. You can also raise the deductible on your 9-5 in order to get cheaper collision rates.

Uninsured/Underinsured Motorist (UM/UIM) – This coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include hospital bills for your injuries and also any damage incurred to your Saab 9-5.

Since many Texas drivers only carry the minimum required liability limits (which is 30/60/25), their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages should not be overlooked. Usually these coverages are similar to your liability insurance amounts.

Med pay and Personal Injury Protection (PIP) – Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses for hospital visits, prosthetic devices and dental work. The coverages can be utilized in addition to your health insurance plan or if you are not covered by health insurance. Medical payments and PIP cover not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay

Compare. Compare. Compare.

When trying to cut insurance costs, it’s a bad idea to buy lower coverage limits just to save a few bucks. There have been many cases where an insured dropped uninsured motorist or liability limits and discovered at claim time they didn’t have enough coverage. Your goal is to find the BEST coverage at a price you can afford, but don’t skip important coverages to save money.

Low-cost Saab 9-5 insurance in Lubbock can be found both online and also from your neighborhood Lubbock agents, and you need to price shop both to get a complete price analysis. Some insurance companies don’t offer rate quotes online and usually these small, regional companies prefer to sell through local independent agents.

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