Save Money on Dodge Grand Caravan Insurance in Lexington

Insurance quote for Dodge Grand Caravan in LexingtonIf saving money is your primary concern, then the best way to get more affordable Dodge Grand Caravan insurance is to start comparing prices yearly from insurers in Lexington. Price quotes can be compared by completing these steps.

Step 1: Gain an understanding of policy coverages and the things you can change to prevent high rates. Many rating factors that cause rate increases such as at-fault accidents, speeding tickets, and a not-so-good credit rating can be eliminated by paying attention to minor details.

Step 2: Compare prices from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give prices from one company like Progressive or Farmers Insurance, while independent agencies can quote rates for many different companies. View insurance agents

Step 3: Compare the new rates to your current policy premium to determine if switching companies saves money. If you find a lower rate quote and buy the policy, make sure there is no lapse in coverage.

Step 4: Provide written notification to your current company of your intent to cancel your current coverage and submit payment and a signed application for your new policy. Immediately safely store the certificate verifying coverage in your glove compartment.

The key thing to remember is that you’ll want to make sure you compare the same coverage limits and deductibles on each quote request and and to compare as many different companies as possible. This provides a fair price comparison and a thorough selection of prices.

It’s an obvious conclusion that car insurance companies want to keep you from shopping around. Drivers who shop around will presumably buy a new policy because there is a good probability of finding better rates. A study showed that people who made a habit of comparing rate quotes saved about $3,400 over four years compared to other drivers who never compared rates.

If saving the most money on auto insurance in Lexington is the reason you’re reading this, then understanding how to choose a company and compare coverage rates can make it easier to find better rates.

If you are insured now or just want to reduce your rates, you can use this information to reduce premiums and still have adequate protection. Locating the best rates in Lexington can be made easier if you know where to look. Smart shoppers only have to learn the proper way to compare insurance rates on the web.

Data for Dodge Grand Caravan insurance

The data table shown next showcases different insurance costs for Dodge Grand Caravan models. Knowing how premiums are figured can be valuable when making decisions when shopping around.


Dodge Grand Caravan Insurance Rates in Lexington, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Grand Caravan CV $194 $290 $306 $18 $92 $900 $75
Grand Caravan SE $194 $290 $306 $18 $92 $900 $75
Grand Caravan Hero $194 $352 $306 $18 $92 $962 $80
Grand Caravan Crew $220 $352 $306 $18 $92 $988 $82
Grand Caravan SXT $220 $352 $306 $18 $92 $988 $82
Get Your Own Custom Quote Go

Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Premium amounts do not factor in specific zip code location which can influence coverage prices noticeably.

Policy deductible comparison

One of the more difficult decisions when buying insurance is which comprehensive and collision deductibles to buy. The following tables highlight how much more rates are when you choose different coverage deductibles. The first pricing table uses a $100 physical damage deductible and the second rate chart uses a $500 deductible.


Dodge Grand Caravan insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Grand Caravan CV $280 $418 $326 $20 $98 $1,167 $97
Grand Caravan SE $280 $418 $326 $20 $98 $1,167 $97
Grand Caravan Hero $280 $508 $326 $20 $98 $1,257 $105
Grand Caravan Crew $318 $508 $326 $20 $98 $1,295 $108
Grand Caravan SXT $318 $508 $326 $20 $98 $1,295 $108
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Dodge Grand Caravan insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Grand Caravan CV $206 $282 $326 $20 $98 $932 $78
Grand Caravan SE $206 $282 $326 $20 $98 $932 $78
Grand Caravan Hero $206 $342 $326 $20 $98 $992 $83
Grand Caravan Crew $232 $342 $326 $20 $98 $1,018 $85
Grand Caravan SXT $232 $342 $326 $20 $98 $1,018 $85
Get Your Own Custom Quote Go

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Rates do not factor in specific garaging location which can impact auto insurance rates noticeably.

Based on the data above, we can derive that using a $100 deductible costs approximately $21 more each month or $252 annually averaged for all Grand Caravan models than opting for the higher $500 deductible. Because you would pay $400 more out of your own pocket with a $500 deductible as compared to a $100 deductible, if you average more than 19 months between claim filings, you would save money going with the higher deductible. The illustration below shows how we made this calculation.

Average monthly premium for $100 deductibles: $103
Average monthly premium for $500 deductibles (subtract): – $82
Monthly savings from raising deductible: $21
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $21
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 19 months

An important sidenote is that raising deductibles means you will have to pay more when you do file a claim. You must have enough extra savings in the event you have to pay the deductible.

Full coverage or liability only

The example below visualizes the comparison of Dodge Grand Caravan yearly insurance costs with full coverage compared to only the Kentucky minimum liability coverage. The premium estimates are based on a clean driving record, no at-fault accidents, $250 deductibles, single marital status, and no discounts are factored in.

Are you wasting money paying for full coverage?

There is no exact formula for phasing out full coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is more than 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.

For example, let’s pretend your Dodge Grand Caravan claim settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $4,000 after the deductible is paid. If premiums are more than $400 annually to have full coverage, then you might want to think about dropping full coverage.

There are a few situations where only buying liability is not in your best interest. If you haven’t satisfied your loan, you must maintain physical damage coverage to protect the lienholder’s interest in the vehicle. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should keep full coverage.

How You Can Control Dodge Grand Caravan Insurance Rates

Lots of things are used when you quote your car insurance policy. Some are pretty understandable such as your driving record, but other factors are less apparent such as your credit history or how financially stable you are. A large part of saving on auto insurance is knowing a few of the rating criteria that come into play when calculating your auto insurance rates. If you know what influences your rates, this enables informed choices that may reward you with lower auto insurance prices.

Find affordable rates by being thorough

The cheapest Dodge Grand Caravan insurance in Lexington is available both online and also from your neighborhood Lexington agents, so get free Lexington auto insurance quotes from both of them to have the best selection. Some companies may not provide online rate quotes and usually these smaller companies prefer to sell through independent insurance agents.

As you go through the steps to switch your coverage, do not reduce coverage to reduce premium. There are too many instances where someone dropped uninsured motorist or liability limits and discovered at claim time that saving that couple of dollars actually costed them tens of thousands. The aim is to get the best coverage possible at the lowest possible cost, not the least amount of coverage.

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