Compare 2002 Oldsmobile Silhouette Insurance Cost

Searching for the cheapest insurance rates for your Oldsmobile Silhouette? Cutting costs on insurance can seem to be a challenge for beginners to comparison shopping online. Drivers have so many companies to choose from that it can turn into a ton of work to locate the lowest price.

Complexity of Oldsmobile Silhouette insurance rates

It’s important that you understand some of the elements that help determine your auto insurance rates. Knowing what influences your rates empowers consumers to make smart changes that will entitle you to lower auto insurance prices.

The following are some of the factors used by your company to calculate prices.

  • Don’t cancel a policy without a new one in place – Allowing your auto insurance policy to lapse will be a quick way to bump up your auto insurance costs. And not only will your rates increase, getting caught without coverage may earn you a hefty fine and possibly a revoked license.
  • Discounts for married couples – Having a wife or husband can get you a discount when buying auto insurance. Marriage means you’re more responsible and statistics show married drivers get in fewer accidents.
  • Liability insurance protects assets – Liability insurance will protect you in the event that you are found liable for damages caused by your negligence. Liability insurance provides for a legal defense which can be incredibly expensive. Liability is cheap compared to physical damage coverage, so drivers should carry high limits.
  • High credit ratings translate to low rates – Having a bad credit rating is a huge factor in determining your rates. Drivers who have good credit tend to be better drivers and file fewer claims than drivers who have lower credit scores. If your credit score can use some improvement, you could potentially save money when insuring your 2002 Oldsmobile Silhouette by repairing your credit.

Save on Oldsmobile Silhouette insurance

The price of auto insurance can be rather high, buy you may qualify for discounts to reduce the price significantly. A few discounts will automatically apply at the time of quoting, but some may not be applied and must be inquired about before being credited.

  • Organization Discounts – Being a member of certain professional organizations could trigger savings on auto insurance for Silhouette insurance.
  • New Vehicle Savings – Buying coverage on a new vehicle can save up to 30% because new vehicles have to meet stringent safety requirements.
  • Seat Belt Usage – Using a seat belt and requiring all passengers to use a seat belt can save 10% or more off your medical payments premium.
  • Pay Upfront and Save – By paying your policy upfront instead of making monthly payments you could save up to 5%.
  • Low Mileage – Keeping the miles down on your Oldsmobile could be rewarded with lower rates on the low mileage vehicles.
  • Discount for Swiching Early – Some insurance companies reward drivers for switching to them before your current expiration date. The savings is around 10%.
  • Claim Free – Claim-free drivers can save substantially when compared with accident-prone drivers.
  • College Student – Kids in college living away from home attending college and do not have access to a covered vehicle can be insured at a reduced rate.
  • Auto/Home Discount – When you have multiple policies with the same company you will save up to 20% off your total premium.
  • Multiple Vehicles – Having multiple vehicles with the same company can get a discount on all vehicles.

It’s important to understand that most credits do not apply to the entire policy premium. Most cut the cost of specific coverages such as liability and collision coverage. So even though it sounds like adding up those discounts means a free policy, auto insurance companies aren’t that generous. Any qualifying discounts will reduce the amount you have to pay.

For a list of insurers who offer auto insurance discounts, click here.

Buyer beware of auto insurance advertising tricks

Auto insurance providers like State Farm and Allstate regularly use ads in print and on television. They all say the same thing that you can save if you move to their company. But how can every company make almost identical claims?

All the different companies can use profiling for the right customer that is profitable for them. For instance, a preferred risk could possibly be over the age of 40, insures multiple vehicles, and has a short commute. A propective insured that hits that “sweet spot” will qualify for the lowest rates and is almost guaranteed to save quite a bit of money when switching.

Consumers who don’t qualify for these standards will be quoted a more expensive rate which usually ends up with business going elsewhere. Company advertisements say “drivers who switch” not “people who quote” save that much money. That is how insurance companies can advertise the savings.

This emphasizes why drivers should compare many company’s rates. It’s impossible to know which auto insurance company will provide you with the cheapest Oldsmobile Silhouette insurance rates.

Tailor your coverage to you

When it comes to buying proper insurance coverage, there is no cookie cutter policy. Every insured’s situation is different.

For instance, these questions might help in determining whether your personal situation would benefit from an agent’s advice.

  • If my 2002 Oldsmobile Silhouette is totaled, can I afford another vehicle?
  • If my pet gets injured in an accident are they covered?
  • What is PIP insurance?
  • Should I have combined single limit or split liability limits?
  • When should I remove comp and collision on my 2002 Oldsmobile Silhouette?
  • Am I covered if I hit my neighbor’s mailbox?
  • Does insurance cover damages from a DUI accident?
  • Am I covered if I hit a deer?

If it’s difficult to answer those questions then you might want to talk to a licensed agent. If you want to speak to an agent in your area, fill out this quick form.

Auto insurance coverages 101

Having a good grasp of auto insurance can help you determine the right coverages and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and even agents have difficulty translating policy wording.

Comprehensive protection – Comprehensive insurance coverage covers damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things such as a broken windshield, hitting a bird, hitting a deer, vandalism and damage from flooding. The maximum amount a auto insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Medical expense coverage – Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses like ambulance fees, funeral costs, rehabilitation expenses and chiropractic care. They are often utilized in addition to your health insurance plan or if you do not have health coverage. They cover you and your occupants in addition to being hit by a car walking across the street. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay

Auto liability insurance – Liability insurance can cover injuries or damage you cause to people or other property that is your fault. This insurance protects YOU against other people’s claims. It does not cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see limits of 100/300/100 that means you have $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000. Another option is a combined limit which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability can pay for claims such as loss of income, legal defense fees, medical services and pain and suffering. How much coverage you buy is up to you, but buy as much as you can afford.

Collision – Collision insurance will pay to fix damage to your Silhouette from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage protects against claims like colliding with another moving vehicle, sideswiping another vehicle, rolling your car and scraping a guard rail. Paying for collision coverage can be pricey, so consider dropping it from older vehicles. Drivers also have the option to raise the deductible to bring the cost down.

Uninsured or underinsured coverage – This coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. Covered losses include medical payments for you and your occupants as well as damage to your Oldsmobile Silhouette.

Since a lot of drivers only carry the minimum required liability limits, their limits can quickly be used up. So UM/UIM coverage is a good idea. Normally the UM/UIM limits are set the same as your liablity limits.

A penny saved is a penny earned

The cheapest 2002 Oldsmobile Silhouette insurance is definitely available both online and with local insurance agents, and you need to price shop both to have the best rate selection. There are still a few companies who do not offer online price quotes and many times these smaller companies only sell through independent insurance agents.

As you shop your coverage around, don’t be tempted to reduce needed coverages to save money. There have been many situations where consumers will sacrifice collision coverage and found out when filing a claim they didn’t have enough coverage. Your goal should be to find the BEST coverage for the lowest price while still protecting your assets.

Consumers who switch companies do it for any number of reasons including poor customer service, denial of a claim, high prices and delays in paying claims. It doesn’t matter why you want to switch finding a new insurance company can be less work than you think.

Additional insurance information can be read at the links below