If saving the most money is your goal, then the best way to get more affordable car insurance rates is to start comparing prices regularly from insurers who provide auto insurance in Lubbock.
- Read and learn about what coverages are included in your policy and the things you can control to prevent expensive coverage. Many rating factors that cause high rates such as speeding tickets, careless driving and a poor credit rating can be amended by paying attention to minor details. This article gives more information to prevent high rates and find more discounts that you may not know about.
- Compare price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give prices from one company like GEICO or Allstate, while independent agencies can provide prices from many different companies.
- Compare the quotes to your current policy to see if cheaper Q5 coverage is available in Lubbock. If you find better rates, make sure coverage does not lapse between policies.
- Tell your current company of your decision to cancel the current policy and submit a completed policy application and payment to your new carrier. As soon as coverage is bound, place the new proof of insurance certificate in your vehicle.
An important note is that you’ll want to make sure you compare similar coverage information on each quote and and to get prices from as many carriers as you can. This enables a fair rate comparison and the best price selection.
It’s an obvious assumption that auto insurance companies don’t want their customers to go rate shopping. Consumers who shop around will probably switch to a new company because of the high probability of finding a lower-priced company. A recent survey revealed that consumers who make a habit of shopping around saved about $860 a year compared to those who don’t make a habit of comparing rates.
If saving the most money on car insurance in Lubbock is your target objective, then understanding how to shop for coverages can make it easier to shop your coverage around.
Buying the cheapest car insurance in Lubbock is actually quite simple. If you have insurance now or are just looking to switch companies, use these tips to get lower rates without reducing protection. Smart buyers only need an understanding of the quickest method to shop their coverage around online from multiple companies.
The providers in the list below are ready to provide price quotes in Texas. To find the cheapest car insurance in Texas, we suggest you visit several of them in order to get a fair rate comparison.
Auto insurance analysis for an Audi Q5
The premium table displayed below outlines a range of coverage prices for Audi Q5 models. Having a better idea how car insurance prices are formulated can help customers make smart choices when purchasing an auto insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Q5 3.2 Premium AWD | $318 | $828 | $430 | $26 | $128 | $1,730 | $144 |
| Q5 3.2 Premium Plus AWD | $354 | $828 | $430 | $26 | $128 | $1,766 | $147 |
| Q5 3.2 Premium Plus S-Line AWD | $354 | $828 | $430 | $26 | $128 | $1,766 | $147 |
| Q5 3.2 Prestige AWD | $354 | $936 | $430 | $26 | $128 | $1,874 | $156 |
| Q5 3.2 Prestige S-Line AWD | $354 | $936 | $430 | $26 | $128 | $1,874 | $156 |
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Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Rates do not factor in zip code location which can increase or decrease premium rates significantly.
Audi Q5 insurance rates by gender in Lubbock
The chart below illustrates the comparison of Audi Q5 insurance premiums for male and female drivers. The data is based on no accidents, no driving violations, full physical damage coverage, $500 deductibles, single status, and no discounts are factored in.
Cost comparison with and without full coverage
The chart below shows the comparison of Audi Q5 insurance costs with full physical damage coverage compared to only buying liability only. The information is based on no claims or driving citations, $500 deductibles, single status, and no discounts are applied.
When to drop full coverage
There is no exact rule that works best for making the decision to drop physical damage coverage on your policy, but there is a general school of thought. If the yearly cost of full coverage is more than 10% of replacement cost minus your deductible, then it might be time to buy liability only.
For example, let’s pretend your Audi Q5 claim settlement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would receive is $5,000 after you pay the deductible. If premiums are more than $500 a year for your policy with full coverage, then it could be time to drop full coverage.
There are some cases where only buying liability is not financially feasible. If you still have a lienholder on your title, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.
Why car insurance is not optional
Despite the potentially high cost of Audi Q5 insurance, insurance is a good idea for several reasons.
- Most states have minimum liability requirements which means the state requires a minimum amount of liability coverage in order to drive the car legally. 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 you bought your vehicle with a loan, it’s guaranteed your bank will stipulate that you have insurance to protect their interest in the vehicle. If you let the policy lapse, the bank will be required to insure your Audi for a lot more money and require you to reimburse them much more than you were paying before.
- Car insurance preserves both your car and your assets. Insurance will also pay for all forms of medical expenses that are the result of an accident. Liability insurance will also pay attorney fees if you are named as a defendant in an auto accident. If your Audi gets damaged, comprehensive and/or collision insurance will cover the damage repairs after a deductible is paid.
The benefits of having car insurance greatly outweigh the cost, specifically if you ever have a liability claim. The average driver in America is overpaying more than $830 a year so it’s very important to do a rate comparison each time the policy renews to ensure rates are inline.
How to Lower Your Insurance Prices
A large part of saving on car insurance is knowing the rating factors that play a part in calculating the level of your policy premiums. When consumers understand what influences your rates, this helps enable you to make changes that could help you find much lower annual insurance costs. Lots of factors are part of the equation when quoting car insurance. Some factors are common sense like your driving record, but some are less apparent such as your marital status or your financial responsibility.
Is you occupation costing you more? – Careers such as real estate brokers, business owners, and emergency personnel usually pay higher average rates because of job stress and long work days. On the other hand, occupations like professors, students and homemakers pay lower than average rates.
Amount of liability coverage – The liability section of your policy will provide protection in the event that you are determined to be liable for physical damage or personal injury to other. This coverage provides you with a defense in court starting from day one. This coverage is very inexpensive when compared with rates for comp and collision, so insureds should have plenty of protection for their assets.
Prices and your address – Residing in areas with lower population has it’s advantages if you are looking for the lowest rates. Less people living in that area means reduced accidents in addition to lower liability claims. People who live in big cities have to deal with traffic congestion and more severe claims. Higher commute times means higher likelihood of an accident.
Save money with alarm systems – Choosing to buy a car that has a built-in theft deterrent system can help bring down rates. Anti-theft features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all help stop your car from being stolen.
Audi Q5 historical loss data – Insurance companies analyze historical claim data to calculate a rate that offsets possible losses. Vehicles that historically have higher prevalence or dollar amount of losses will cost more for specific coverages. The table shown below demonstrates the historical loss data for Audi Q5 vehicles.
For each policy coverage type, the claim amount for all vehicles combined as an average is represented as 100. Values under 100 indicate a favorable loss history, while values over 100 indicate more frequent losses or an increased probability of a larger loss.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Audi Q5 4dr 4WD | 143 | 96 | 110 | 61 | 55 | 78 |
| Audi Q5 Hybrid 4dr 4WD | 156 | 165 |
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Auto insurance is unique, just like you
When it comes to choosing the best auto insurance coverage for your vehicles, there really is not a one size fits all plan. Your situation is unique.
For instance, these questions might help in determining if you might need professional guidance.
- Are rock-chip repairs free?
- Why is insurance for a teen driver so high in Lubbock?
- When do I need to add a new car to my policy?
- Am I covered when renting a car or should I buy coverage from the car rental agency?
- Do I need motorclub coverage?
- Which companies will insure me after a DUI?
- Are my friends covered when driving my Audi Q5?
If you can’t answer these questions but you think they might apply to your situation then you might want to talk to an insurance agent. To find lower rates from a local agent, take a second and complete this form. It’s fast, free and may give you better protection.
Find cheap insurance rates by comparing often
As you prepare to switch companies, it’s not a good idea to buy poor coverage just to save money. There have been many cases where drivers have reduced liability coverage limits only to regret that it was a big mistake. The ultimate goal is to get the best coverage possible at the best cost but still have enough coverage for asset protection.
Insureds who switch companies do it for a variety of reasons including policy cancellation, delays in paying claims, an unsatisfactory settlement offer or even high prices. Regardless of your reason, switching companies is not as hard as you think.
Low-cost Audi Q5 insurance in Lubbock can be sourced both online and from local agencies, and you need to comparison shop both to have the best rate selection. A few companies may not provide online quoting and many times these small, regional companies only sell through independent agents.
To learn more, link through to the following helpful articles:
- Understanding Rental Car Insurance (Insurance Information Institute)
- Who Has the Cheapest Auto Insurance for a 20 Year Old Male in Lubbock? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Drivers Over Age 50 in Lubbock? (FAQ)
- Who Has Affordable Auto Insurance for Electric Cars in Lubbock? (FAQ)
- What Insurance is Cheapest for Drivers with a Bad Driving Record in Lubbock? (FAQ)
- Side Impact Crash Tests (iihs.org)
- Coverage Information (Progressive Insurance)