Would you like to stop wasting money and find the cheapest Saab 9-5 insurance in Charlotte? Are you baffled by the dozens of auto insurance choices in your area? Lot’s of other drivers are too. Vehicle owners have such a vast assortment of choices available that it can easily turn into a difficult situation to compare auto insurance rates on Saab 9-5 insurance. Charlotte is a great city to raise a family in, but high auto insurance rates can make it hard to buy proper levels of coverage.
It’s safe to conclude that auto insurance companies don’t want policyholders to shop around. Drivers who compare other rates will probably buy a different policy because of the good chance of finding a lower rate. A recent study showed that consumers who shopped around every year saved an average of $865 annually compared to people who never shopped around for cheaper prices.
If finding the cheapest price for auto insurance is your ultimate objective, then learning a little about how to get price quotes and compare insurance rates can help you succeed in finding affordable rates.
You should take the time to compare rates occasionally because prices are adjusted regularly by insurance companies. Even if you got the best deal on Saab 9-5 insurance in Charlotte at your last renewal the chances are good that you can find a lower premium rate today. There is lot of inaccurate information about 9-5 insurance out there, but you can learn a lot of great tips on how to stop overpaying for insurance in Charlotte.
Comparing rates for more affordable auto insurance coverage in Charlotte is not that difficult. Just about everyone who compares rate quotes for auto insurance will most likely be able to find better rates. But North Carolina drivers need to learn the way insurance companies price online insurance and use this information to your advantage.
How to compare Charlotte Saab 9-5 insurance price quotes
Most larger insurance companies such as State Farm, GEICO and Progressive allow consumers to get pricing direct online. Obtaining pricing for Saab 9-5 insurance in Charlotte is very simple as you just enter your coverage information as detailed in the form. When the form is submitted, their system orders reports for credit and driving violations and provides a quote based on these factors.
Using the web to get rates for Saab 9-5 insurance in Charlotte streamlines rate comparisons, and it’s absolutely necessary to get many rate quotes if you are searching for the best possible rates on car insurance.
If you want to find out how much you’re overpaying now, consider comparing rates from the companies shown below. If you have coverage now, it’s recommended that you enter your coverages as close as possible to your current policy. Doing this guarantees you will be getting rate quotes for similar insurance coverage.
The companies shown below provide free quotes in North Carolina. To buy cheap car insurance in Charlotte, we recommend you get rate quotes from several of them to find the most affordable auto insurance rates.
Insurance statistics and figures
The rate table shown next outlines different insurance rates for Saab 9-5 models. Having a better understanding of how car insurance prices are figured is important to be able to make decisions on the best policy to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 9-5 Aero XWD 4-Dr Sedan | $270 | $546 | $256 | $16 | $76 | $1,164 | $97 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Premium costs do not factor in vehicle garaging location which can affect coverage rates substantially.
Higher deductibles save money
When buying insurance, a common question is how high should the physical damage deductibles be. The rates below summarize the rate difference between low and high physical damage coverage deductibles. The first data table uses a $250 deductible for physical damage and the second price chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 9-5 Aero XWD 4-Dr Sedan | $266 | $498 | $250 | $14 | $74 | $1,127 | $94 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 9-5 Aero XWD 4-Dr Sedan | $164 | $314 | $250 | $14 | $74 | $816 | $68 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Price estimates do not factor in specific location which can revise price quotes significantly.
Based on the above data, using a $250 deductible will cost you about $26 more each month or $312 every year than quoting the higher $1,000 deductible. Since the policyholder would be required to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you normally go at least 29 months between claims, you would probably come out ahead if you choose the higher deductible. Here’s an example of how this decision is made.
| Average monthly premium for $250 deductibles: | $94 |
| Average monthly premium for $1,000 deductibles (subtract): | – $68 |
| Monthly savings from raising deductible: | $26 |
| Difference between deductibles ($1,000 – $250): | $750 |
| Divide difference by monthly savings: | $750 / $26 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 29 months |
Drive responsibly or pay higher rates
The illustration below highlights how traffic violations and accident claims impact Saab 9-5 car insurance costs for each different age category. The rates are based on a single male driver, comp and collision included, $1,000 deductibles, and no discounts are taken into consideration.
Full coverage rates compared to liability-only
The illustration below shows the difference between Saab 9-5 annual premium costs with full physical damage coverage and with liability coverage only. The premium estimates are based on no claims or driving violations, $100 deductibles, single marital status, and no additional discounts are factored in.
When to eliminate full coverage
There is no clear-cut rule of when to drop physical damage coverage, but there is a general school of thought. If the annual cost of your full coverage insurance is more than about 10% of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.
For example, let’s say your Saab 9-5 replacement cost is $9,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $8,000 after you pay the deductible. If it’s costing in excess of $800 a year for your policy with full coverage, then it could be time to drop full coverage.
There are a few cases where eliminating full coverage is not in your best interest. If you still have a loan on your vehicle, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should keep full coverage.
Protect more than your Saab vehicle
Despite the high cost, insuring your vehicle is mandatory in North Carolina but it also protects more than you think.
- The majority of states have minimum mandated liability insurance limits which means state laws require a minimum amount of liability insurance coverage in order to be legal. In North Carolina 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 you took out a loan on your 9-5, almost every bank will make it a condition of the loan that you have full coverage to ensure loan repayment if the vehicle is totaled. If you do not pay your insurance premiums, the lender may have to buy a policy to insure your Saab at an extremely high rate and require you to pay a much higher amount than you were paying before.
- Insurance protects not only your Saab but also your assets. Insurance will also pay for many types of medical costs for you, any passengers, and anyone injured in an accident. One policy coverage, liability insurance, also pays for attorney fees and expenses if anyone sues you for causing an accident. If mother nature or an accident damages your car, comprehensive and collision coverage will pay to repair the damage.
The benefits of buying insurance definitely exceed the cost, especially with large liability claims. An average driver in America overpays as much as $865 each year so we recommend shopping around at every policy renewal to help ensure money is not being wasted.
Parts of your car insurance policy
Having a good grasp of your car insurance policy aids in choosing the best coverages and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement. Below you’ll find the normal coverages found on the average car insurance policy.
Coverage for uninsured or underinsured drivers
This coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants as well as damage to your Saab 9-5.
Since many North Carolina drivers have only the minimum liability required by law (30/60/25), it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Most of the time the UM/UIM limits do not exceed the liability coverage limits.
Coverage for collisions
Collision coverage pays for damage to your 9-5 resulting from colliding with an object or car. You will need to pay your deductible then your collision coverage will kick in.
Collision coverage pays for things such as sideswiping another vehicle, rolling your car, scraping a guard rail, crashing into a ditch and driving through your garage door. Collision is rather expensive coverage, so consider dropping it from older vehicles. Another option is to increase the deductible on your 9-5 to get cheaper collision coverage.
Auto liability
Liability coverage provides protection from damage that occurs to a person or their property by causing an accident. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show values of 30/60/25 which means a limit of $30,000 per injured person, a total of $60,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged property. Some companies may use one number which is a combined single limit which provides one coverage limit and claims can be made without the split limit restrictions.
Liability coverage pays for things such as medical expenses, bail bonds, funeral expenses and repair bills for other people’s vehicles. How much coverage you buy is your choice, but buy higher limits if possible. North Carolina state minimum liability requirements are 30/60/25 but it’s recommended drivers buy better liability coverage.
The illustration below demonstrates why buying the state minimum limits may not be adequate coverage.
Coverage for medical expenses
Med pay and PIP coverage reimburse you for expenses such as prosthetic devices, ambulance fees and hospital visits. They can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. It covers all vehicle occupants in addition to if you are hit as a while walking down the street. PIP is not available in all states and may carry a deductible
Comprehensive car insurance
Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims such as hail damage, falling objects, rock chips in glass, damage from getting keyed and a broken windshield. The maximum amount a car insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.