Jeep Grand Cherokee Insurance Rates in Laredo

If you want to find the absolute lowest rates, then the best way to save on auto insurance rates is to make a habit of regularly comparing prices from providers in Laredo. Rate comparisons can be done by completing these steps.

1. Get an understanding of how car insurance works and the modifications you can make to prevent expensive coverage. Many rating criteria that increase rates such as getting speeding tickets and poor credit history can be eliminated by making lifestyle changes or driving safer.
2. Quote rates from direct, independent, and exclusive agents. Exclusive and direct companies can only provide price estimates from one company like Progressive or Farmers Insurance, while independent agents can quote prices for many different companies. View a list of agents
3. Compare the price quotes to your existing rates and see if there is a cheaper rate in Laredo. If you find better rates and switch companies, verify that coverage does not lapse between policies.

A good tip to remember is to make sure you enter identical limits and deductibles on every quote request and and to get quotes from as many companies as you can. This enables a fair price comparison and a complete selection of prices.

Sadly, a large majority of drivers have bought insurance from the same company for more than four years, and approximately 40% of consumers have never compared insurance rates at all. U.S. drivers can save nearly $850 each year just by getting comparison quotes, but most undervalue how much money they would save if they switch to a new company.

Our objective in writing this article is to tell you the best methods to compare rates and how to save the most money. If you currently have insurance, you will surely be able to get lower rates using this information. But Texas consumers must know the methods companies use to sell online because rates fluctuate considerably.

There are several ways of comparing rates from all the different companies. The simplest method to find cheaper Jeep Grand Cherokee rates consists of obtaining rate quotes online. It’s important to know that getting more free quotes increases your odds of finding a lower rate than you’re paying now. Some smaller insurers do not give rate quotes online, so you need to compare prices from them as well.

The companies shown below are our best choices to provide free rate quotes in Texas. If multiple companies are listed, we suggest you compare several of them to find the most affordable auto insurance rates.

Analysis of Jeep Grand Cherokee rates

The data table below outlines different policy rates for Jeep Grand Cherokee models. Having a good understanding how insurance premiums are formulated can be useful when making smart choices when purchasing an insurance policy.

Price data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, multi-vehicle, and safe-driver. Rate quotes do not factor in zip code location which can influence premium rates greatly.

Physical damage deductibles: Should you raise them?

A question often asked by Laredo drivers is how high should the deductibles for physical damage be. The data tables below show the premium difference when you buy lower versus higher coverage deductibles. The first set of prices uses a $100 comprehensive and collision deductible and the second price grid uses a $1,000 deductible.

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, homeowner, safe-driver, claim-free, and multi-policy. Table data does not factor in specific location which can decrease or increase prices noticeably.

Based on this data, we can arrive at the conclusion that using a $100 deductible would cost the average driver about $41 more each month or $492 annually than quoting the higher $1,000 deductible. Since you would have to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to go more than 22 months between claims, you would come out ahead if you opt for a higher deductible.

The chart below highlights how deductible choice and can increase or decrease Jeep Grand Cherokee annual premium costs for each different age category. The premium estimates are based on a married female driver, full coverage, and no additional discounts are factored in.

Drive safe and save

The diagram below shows how traffic citations and at-fault collisions influence Jeep Grand Cherokee insurance rates for each different age group. The price estimates are based on a married female driver, comp and collision included, $1,000 deductibles, and no discounts are taken into consideration.

Cost of full coverage in Laredo

The chart below illustrates the difference between Jeep Grand Cherokee auto insurance costs with liability coverage only compared to full coverage. The prices are based on no accidents or driving violations, $100 deductibles, marital status is single, and no other discounts are factored in.

When to drop comprehensive and collision coverage

There is no clear-cut formula for dropping full coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than around 10% of the settlement you would receive from your company, then it might be time to buy liability only.

For example, let’s assume your Jeep Grand Cherokee replacement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $4,000 after the policy deductible has been paid. If you are paying more than $400 a year to have full coverage, the it may be a good time to stop paying for full coverage.

There are some scenarios where only buying liability is not recommended. If you haven’t satisfied your loan, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not opt for liability only.

Why do I need car insurance?

Even though it can be expensive, maintaining insurance is required in Texas but also provides important benefits.

First, just about all states have minimum mandated liability insurance limits which means state laws require a specific level of liability insurance in order to be legal. 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 your vehicle has a lienholder, almost every bank will have a requirement that you have insurance to guarantee loan repayment. If you do not pay your insurance premiums, the bank may insure your Jeep for a much higher rate and force you to pay the higher price.

Third, insurance safeguards both your Jeep Grand Cherokee and your assets. It will also cover hospital and medical expenses for you, your passengers, and anyone else injured in an accident. Liability coverage, the one required by state law, will also pay for a defense attorney if anyone sues you for causing an accident. If mother nature or an accident damages your car, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage minus the deductible amount.

The benefits of buying auto insurance are without a doubt worth the cost, especially for larger claims. In a recent study of 1,000 drivers, the average customer is currently overpaying as much as $800 each year so compare rate quotes each time the policy renews to help ensure money is not being wasted.

Auto insurance coverage information

Having a good grasp of your insurance policy helps when choosing the right coverages and proper limits and deductibles. Policy terminology can be ambiguous and nobody wants to actually read their policy.

Liability coverages

This will cover injuries or damage you cause to other’s property or people by causing an accident. It protects you from legal claims by others. It does not cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 30/60/25 which stand for a $30,000 limit per person for injuries, a total of $60,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged property. Another option is a combined single limit or CSL which limits claims to one amount rather than limiting it on a per person basis.

Liability insurance covers things like attorney fees, repair costs for stationary objects, medical services and funeral expenses. The amount of liability coverage you purchase is a personal decision, but you should buy higher limits if possible. Texas requires drivers to carry at least 30/60/25 but you should think about purchasing higher limits.

The next chart shows why low liability limits may not be high enough to adequately cover claims.

Auto collision coverage

This coverage will pay to fix damage to your Grand Cherokee resulting from colliding with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in.

Collision coverage protects against things like colliding with another moving vehicle, colliding with a tree and sideswiping another vehicle. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. Drivers also have the option to bump up the deductible on your Grand Cherokee in order to get cheaper collision rates.

Comprehensive insurance

Comprehensive insurance covers damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things like damage from getting keyed, hail damage, a tree branch falling on your vehicle and hitting a bird. The highest amount you’ll receive from a claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your Jeep Grand Cherokee.

Due to the fact that many Texas drivers only carry the minimum required liability limits (Texas limits are 30/60/25), their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Most of the time these coverages are similar to your liability insurance amounts.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance pay for expenses for pain medications, prosthetic devices, hospital visits, doctor visits and X-ray expenses. They can be utilized in addition to your health insurance plan or if there is no health insurance coverage. It covers all vehicle occupants as well as any family member struck as a pedestrian. PIP coverage is not an option in every state and may carry a deductible

In conclusion

Drivers who switch companies do it for many reasons like high prices, delays in paying claims, questionable increases in premium or high rates after DUI convictions. Whatever your reason, finding the right car insurance provider can be pretty painless.

A few companies may not provide rate quotes online and most of the time these small insurance companies prefer to sell through independent agents. Cheaper car insurance in Laredo is possible both online and also from your neighborhood Laredo agents, and you should compare rates from both in order to have the best chance of saving money.

As you go through the steps to switch your coverage, don’t be tempted to skimp on critical coverages to save a buck or two. There have been many situations where someone dropped liability limits or collision coverage only to regret that a couple dollars of savings turned into a financial nightmare. Your goal should be to purchase a proper amount of coverage at the lowest possible cost and still be able to protect your assets.

To learn more, link through to the resources below:

• Credit and Insurance Scores (Insurance Information Institute)
• How Much are Auto Insurance Rates for a Toyota RAV4 in Laredo? (FAQ)
• Who Has the Cheapest Auto Insurance for a Honda Civic in Laredo? (FAQ)
• Who Has Cheap Laredo Car Insurance for Safe Drivers? (FAQ)
• New head restraint design cuts injuries (Insurance Institute for Highway Safety)
• Insuring a Leased Car (Insurance Information Institute)
• Cellphones, Texting and Driving (iihs.org)