It takes a little time, but the best way to find low-cost prices for Cadillac CTS-V insurance is to annually compare prices from companies in Memphis. You can compare rates by following these guidelines.
- Take a few minutes and learn about how your policy works and the steps you can take to keep rates low. Many things that are responsible for high rates like accidents, careless driving, and poor credit rating can be amended by making minor changes in your lifestyle.
- Compare prices from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only give prices from a single company like GEICO or Allstate, while independent agencies can give you price quotes from multiple insurance companies.
- Compare the quotes to your existing rates to see if switching to a new carrier will save money. If you can save some money, ensure there is no coverage lapse between policies.
One thing to remember is that you use the same amount of coverage on each price quote and and to look at all possible companies. Doing this enables an apples-to-apples comparison and many rates to choose from.
Astonishing but true according to a recent study, a large majority of drivers have bought auto insurance from the same company for more than four years, and approximately 38% of consumers have never quoted rates to find cheap coverage. Consumers in Memphis could save themselves almost 35% a year, but they just feel it’s too hard to compare rate quotes.
Just keep in mind that comparing a large number of companies increases the chance that you will find better pricing. Not every company does online price quotes, so it’s necessary to compare prices from them, too.
The companies in the list below are our best choices to provide comparison quotes in Memphis, TN. In order to find cheap car insurance in Memphis, we suggest you visit several of them to get the lowest price.
Insurance rate breakdown
The price information shown next showcases different insurance policy prices for Cadillac CTS-V models. Being more informed about how premiums are formulated can assist in making informed decisions when comparing rate quotes.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| CTS-V | $250 | $478 | $252 | $14 | $76 | $1,070 | $89 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, homeowner, and multi-policy. Table data does not factor in Memphis location which can decrease or increase coverage prices greatly.
Deductible comparison
When buying auto insurance, a common question is how low should you set your deductibles. The premium rates below can help show the cost difference when you select higher and lower physical damage coverage deductibles. The first data set uses a $100 deductible for physical damage and the second set of prices uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| CTS-V | $376 | $768 | $246 | $14 | $74 | $1,503 | $125 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| CTS-V | $274 | $520 | $246 | $14 | $74 | $1,128 | $94 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Information does not factor in vehicle garaging location which can lower or raise premium rates considerably.
Based on the data above, we can derive that using a $100 deductible would cost the average driver about $31 more each month or $372 annually than quoting the higher $500 deductible. Since you would have to pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you tend to have more than 13 months between claim filings, you would probably save some money if you choose the higher deductible. The illustration below shows the way this determination is made.
| Average monthly premium for $100 deductibles: | $125 |
| Average monthly premium for $500 deductibles (subtract): | – $94 |
| 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 big caveat is that a higher deductible means you will have to pay more out-of-pocket when you file a claim. You need to make sure you have access to more funds in order to pay the higher deductible.
The information below demonstrates how choosing different deductibles and can affect Cadillac CTS-V yearly insurance costs for different age groups. The price estimates are based on a single male driver, full physical damage coverage, and no discounts are applied to the premium.
Cadillac CTS-V insurance costs by age and gender
The chart below shows the comparison of Cadillac CTS-V insurance costs for male and female drivers. The price estimates are based on no driving violations, no at-fault accidents, full physical damage coverage, $250 deductibles, drivers are not married, and no discounts are applied.
Lower-cost Cadillac CTS-V insurance rates in Memphis
Companies offering auto insurance don’t necessarily list the entire discount list very well, so the following list contains both the well known as well as some of the hidden discounts that you may qualify for. If you are not receiving all the discounts you qualify for, you could be saving more on your car insurance.
- Discount for Swiching Early – A few insurance companies give discounts for switching companies before your current coverage expires. You can save around 10% with this discount.
- Theft Deterrent – Cars, trucks, and SUVs with anti-theft systems help deter theft and will save you 10% or more on CTS-V insurance in Memphis.
- Seat Belt Usage – Forcing all vehicle occupants to fasten their seat belts can save a little off the PIP or medical payment premium.
- Responsible Driver Discount – Drivers without accidents can save as much as half off their rates than drivers with accident claims.
- Passive Restraint Discount – Options like air bags and/or automatic seat belt systems could see savings of 25 to 30%.
- Own a Home and Save – Just owning your own home can save you money because of the fact that having a home is proof of financial responsibility.
- Anti-lock Brakes – Cars and trucks with ABS and/or traction control can stop better under adverse conditions so you can save 10 percent or more.
As is typical with insurance, most of the big mark downs will not be given to the overall cost of the policy. Most only cut specific coverage prices like liability, collision or medical payments. Despite the fact that it seems like having all the discounts means you get insurance for free, it doesn’t quite work that way.
The illustration below visualizes the comparison of Cadillac CTS-V insurance costs with and without policy discounts. The rate quotes are based on a female driver, no violations or claims, Tennessee state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, marriage, multi-car, homeowner, and claim-free discounts applied.
A list of car insurance companies and a summarized list of policyholder discounts can be read below.
- Progressive may have discounts that include online signing, continuous coverage, multi-vehicle, homeowner, multi-policy, good student, and online quote discount.
- GEICO includes discounts for air bags, driver training, defensive driver, multi-policy, seat belt use, anti-theft, and good student.
- State Farm policyholders can earn discounts including driver’s education, good driver, Steer Clear safe driver discount, passive restraint, student away at school, good student, and accident-free.
- Esurance may include discounts for safety device, online shopper, defensive driver, claim free, online quote, and good student.
- The Hartford offers discounts including anti-theft, driver training, defensive driver, good student, air bag, vehicle fuel type, and bundle.
When quoting, ask each company how you can save money. Savings may not apply in Memphis. If you would like to view providers with discount rates in Tennessee, click here to view.
Why you need quality insurance for your Cadillac CTS-V
Despite the high cost of buying insurance for a Cadillac CTS-V in Memphis, insurance is required by state law in Tennessee and it also provides benefits you may not be aware of.
First, almost all states have minimum mandated liability insurance limits which means you are required to buy a minimum amount of liability protection in order to license the vehicle. In Tennessee these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
Second, if you have a loan on your Cadillac CTS-V, it’s most likely the lender will have a requirement that you buy full coverage to protect their interest in the vehicle. If you let the policy lapse, the lender will be forced to insure your Cadillac at a more expensive rate and require you to fork over the higher price.
Third, auto insurance protects both your assets and your car. It will also provide coverage for most medical and hospital costs incurred in an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If your Cadillac gets damaged, comprehensive and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of having insurance more than offset the price you pay, particularly when you have a large claim. According to a recent study, the average American driver is overpaying over $810 a year so you should quote and compare rates every year to help ensure money is not being wasted.
Local Memphis car insurance agents
Some consumers still prefer to sit down with an agent and that is OK! One of the great benefits of price shopping on the web is you may find the best rates and still have a local agent. And providing support for neighborhood insurance agencies is still important in Memphis.
After completing this quick form, the quote information is immediately sent to agents in your area who will gladly provide quotes and help you find cheaper coverage. It simplifies rate comparisons since you won’t have to contact an agency because quoted prices will be sent to you instantly. You can find better rates AND a local agent. If you need to get a price quote for a specific company, feel free to search and find their rate quote page and fill out the quote form the provide.
If you want to use a reputable insurance agent or broker, you must know there are a couple different agency structures and how they can write your policy. Car insurance agencies can either be exclusive or independent agents depending on their company appointments.
Independent Car Insurance Agencies
Independent insurance agents are appointed with more than one company so they can quote policies with any number of different companies and potentially find a lower price. If they find a cheaper price, the business is moved internally and you don’t have to find a new agent. If you are comparing car insurance prices, you absolutely need to get rate quotes from a few independent agents to get the most accurate price comparison. Many can place coverage with lesser-known insurance companies that may provide cheaper car insurance rates.
Shown below is a list of independent insurance agents in Memphis who may be able to give you free rate quotes.
- Bill Blake Auto Insurance
5724 Mt Moriah Rd – Memphis, TN 38115 – (901) 432-5551 – View Map - AutoSave Insurance
2550 Poplar Ave – Memphis, TN 38112 – (901) 458-1630 – View Map - Farris Evans Insurance Agency Inc
1568 Union Ave – Memphis, TN 38104 – (901) 274-5424 – View Map
Exclusive Car Insurance Agents
Exclusive agents can only place business with one company such as State Farm, AAA, Farmers Insurance or Allstate. Exclusive agents cannot provide rate quotes from other companies so it’s a take it or leave it situation. Exclusive agents are well trained on the products they sell and that allows them to sell at a higher price point. Consumers often buy from the same agent for years mainly due to high brand loyalty instead of buying on price only.
Shown below is a short list of exclusive agents in Memphis willing to provide price quote information.
- Mike Fay – State Farm Insurance Agent
6263 Poplar Ave #535 – Memphis, TN 38119 – (901) 682-8700 – View Map - Allstate Insurance: Brandon Goodrich
3725 Riverdale Rd Ste 4 – Memphis, TN 38115 – (901) 794-0080 – View Map - Allstate Insurance: Josh Roman
579 S Perkins Rd – Memphis, TN 38117 – (901) 683-8600 – View Map
Selecting an insurance agency shouldn’t rely on just a cheap quote. These are some questions you should get answers to.
- What is the financial rating for the quoted company?
- Can they provide you with a list of referrals?
- Is insurance their full-time profession?
- Has the agent ever had any license suspensions?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
- Do they prorate repair cost based on vehicle mileage?
- Do they offer claims assistance after hours?
- If independent agents, which companies do they recommend?
After you get satisfactory answers for all questions you ask as well as the cheapest Cadillac CTS-V insurance in Memphis quotes, you have narrowed it down to a car insurance agent that meets the criteria to insure your vehicles.