How to Compare Lexington Jaguar XF Insurance

It’s an obvious conclusion that auto insurance companies don’t want you to compare rates. Drivers who shop around for the cheapest price will, in all likelihood, switch to a new company because they have a good chance of finding a policy with more affordable rates. Remarkably, a study showed that consumers who compared rates regularly saved as much as $865 annually compared to people who don’t make a habit of comparing rates.

If finding the cheapest rates on Jaguar XF insurance is why you’re reading this, knowing how to get free comparison quotes and analyze insurance coverage can save time and make the process easier.

Insurance quote for Jaguar XF in LexingtonIf you want to save money, the best way to get budget Jaguar XF insurance is to begin comparing prices regularly from insurers that sell auto insurance in Lexington. You can shop around by following these steps.

Step 1: Get an understanding of how companies price auto insurance and the factors you can control to prevent expensive coverage. Many factors that result in higher rates such as traffic violations, accidents, and an imperfect credit rating can be rectified by making minor changes to your lifestyle. Read the full article for information to find cheap prices and get bigger discounts that may have been overlooked.

Step 2: Compare rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only quote rates from a single company like Progressive or State Farm, while agents who are independent can provide price quotes from multiple sources.

Step 3: Compare the quotes to your current policy to see if switching to a new carrier will save money. If you find better rates, make sure coverage does not lapse between policies.

A key point to remember is that you’ll want to compare the same coverage limits and deductibles on each quote request and and to get rates from as many different companies as possible. Doing this enables an accurate price comparison and a complete selection of prices.

The companies shown below are ready to provide free quotes in Lexington, KY. If multiple companies are listed, it’s highly recommended you get rates from several of them in order to get a fair rate comparison.

Jaguar XF insurance statistics and information

The coverage table below showcases a range of coverage costs for Jaguar XF models. Having insight into how auto insurance prices are formulated can aid in making informed coverage decisions.

Jaguar XF Insurance Rates in Lexington, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
XF Luxury 4-Dr Sedan $208 $464 $424 $26 $128 $1,250 $104
XF Premium 4-Dr Sedan $208 $464 $424 $26 $128 $1,250 $104
XF Supercharged 4-Dr Sedan $226 $518 $424 $26 $128 $1,322 $110
XF R 4-Dr Sedan $246 $572 $424 $26 $128 $1,396 $116
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Data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Rate information does not factor in your specific Lexington location which can increase or decrease premium rates significantly.

Policy deductibles

When comparing auto insurance rates, the most common question is how high should your deductibles be. The comparisons below summarize the premium difference when you buy lower versus higher policy deductibles. The first data table uses a $100 deductible and the second data table uses a $500 deductible.

Jaguar XF insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
XF Luxury 4-Dr Sedan $390 $778 $326 $20 $98 $1,637 $136
XF Premium 4-Dr Sedan $390 $778 $326 $20 $98 $1,637 $136
XF Supercharged 4-Dr Sedan $426 $870 $326 $20 $98 $1,765 $147
XF R 4-Dr Sedan $462 $960 $326 $20 $98 $1,891 $158
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Jaguar XF insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
XF Luxury 4-Dr Sedan $284 $526 $326 $20 $98 $1,254 $105
XF Premium 4-Dr Sedan $284 $526 $326 $20 $98 $1,254 $105
XF Supercharged 4-Dr Sedan $310 $588 $326 $20 $98 $1,342 $112
XF R 4-Dr Sedan $338 $648 $326 $20 $98 $1,430 $119
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Premium amounts do not factor in vehicle location which can influence coverage rates substantially.

Based on this data, using a $100 deductible will cost you approximately $34 more each month or $408 for a full year averaged for all XF models than opting for the higher $500 deductible. Due to the fact that you would have to pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you have at a minimum 12 months between claim filings, you would most likely save money by going with a higher deductible.

How to calculate if a higher deductible is a good decision

Average monthly premium for $100 deductibles: $144
Average monthly premium for $500 deductibles (subtract): – $110
Monthly savings from raising deductible: $34
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $34
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 12 months

One important note is that a higher deductible means you will have to cover more of the damage yourself if you have a claim. That will necessitate some extra funds in the event you need to pay the higher deductible in order to repair your vehicle.

Do you need full coverage?

The example below shows the comparison of Jaguar XF yearly insurance costs with liability coverage only compared to full coverage. The costs are based on no tickets, no at-fault accidents, $500 deductibles, drivers are single, and no other discounts are factored in.

Should you pay for full coverage or liability only?

There is no specific rule that works best for making the decision to drop comp and collision coverage, but there is a guideline you can use. If the yearly cost of comp and collision coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.

For example, let’s assume your Jaguar XF replacement value is $3,000 and you have $1,000 deductibles. If your vehicle is destroyed, you would only receive $2,000 after paying your deductible. If you are paying in excess of $200 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.

There are some conditions where buying only liability insurance is not a good plan. If you still owe a portion of the original loan, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should not drop full coverage.

Why you need quality insurance for your XF

Even though it can be expensive, insurance serves a purpose in several ways.

The benefits of carrying adequate insurance definitely exceed the price paid, particularly if you ever have a claim. According to a recent study, the average American driver is currently overpaying as much as $850 per year so it’s important to compare rates every year to save money.

Seven Tips to Get Lower-cost Lexington Insurance Premiums

Many things are considered when premium rates are determined. A few of the factors are predictable such as your driving record, but others are less obvious like your continuous coverage or your financial responsibility. Smart consumers have a good feel for some of the factors that come into play when calculating the level of your policy premiums. When you know what positively or negatively influences your rates, this helps enable you to make changes that may result in cheaper rates.

File insurance claims and pay more – If you are the type of insured that files lots of claims you should expect either policy cancellation or increased premiums. Companies in Kentucky provide discounts to people that do not abuse their auto insurance. Auto insurance is intended to be relied upon for more catastrophic claims.

Never let your coverage expire – Driving any period of time without insurance is not a good idea and your next policy will cost more because you let your insurance lapse. And not only will insurance be more expensive, not being able to provide proof of insurance may earn you fines or a revoked license.

Don’t skimp on liability – A critical coverage on your policy, liability insurance is the protection if ever you are responsible for damages from an accident. Liability provides you with a defense in court which can be incredibly expensive. Liability is cheap compared to other policy coverages, so drivers should carry high limits.

Rates can be impacted by your occupation – Jobs like fire fighters, air traffic controllers, and medical professionals usually pay higher rates than the rest of us due to intense work-related stress and extremely grueling work hours. On the flip side, careers like professors, engineers and performers receive lower rates.

Companies want multiple policies – Many insurance companies afford better rates to policyholders who carry more than one policy, otherwise known as a multi-policy discount. If you currently are using one company, consumers should still shop around to help ensure you have the lowest rates.

Males pay higher costs – Over the last 30 years, statistics show females are less aggressive when driving. However, this does not mean females are better drivers. Women and men have accidents at about the same rate, but men have accidents that have higher claims. They also get more serious tickets such as reckless driving. Males from age 16 to 21 are several times more likely to be in an accident and therefore are the most expensive to insure.

The illustration below illustrates the comparison of Jaguar XF annual premium costs for male and female drivers. The data is based on no driving violations, no at-fault accidents, full coverage, $1,000 deductibles, marital status is single, and no additional discounts are factored in.

Remove unneeded incidental coverages – There are a lot of extra add-on coverages that can waste your money if you aren’t careful. Coverages like vanishing deductibles, death and dismemberment, and membership fees are probably not needed. They may sound like good ideas when you first buy your policy, but if they’re wasting money consider taking them off your policy.

Jaguar XF historical loss data – Insurance companies take into consideration historical loss data for every vehicle when they set coverage costs for each model. Models that are shown to have high amounts or severity of claims will have higher rates. The information below illustrates the insurance loss data used by companies for Jaguar XF vehicles.

For each coverage type, the claim probability for all vehicles averaged together is set at 100. Numbers shown that are under 100 suggest a positive loss record, while percentages above 100 indicate more frequent claims or an increased probability of a larger loss.

Insurance Loss Ratings for Jaguar XF Vehicles
Specific Jaguar Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Jaguar XF 4dr 2WD 169 101 191 98
Jaguar XF 4dr 4WD 206 83 152

Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

How to know if you need help

When quoting and choosing your policy, there really is no “best” method to buy coverage. Everyone’s situation is unique so your insurance needs to address that.Higher deductibles save money
These are some specific questions may help highlight if your insurance needs will benefit from professional help.

If you can’t answer these questions, you might consider talking to an agent. If you want to speak to an agent in your area, simply complete this short form or click here for a list of auto insurance companies in your area. It’s fast, doesn’t cost anything and may give you better protection.

Shop around and save

We just showed you many ideas to compare Jaguar XF insurance car insurance rates in Lexington. It’s most important to understand that the more providers you compare, the higher your chance of finding affordable Lexington auto insurance quotes. Drivers may even discover the best price on insurance is with a small mutual company. These companies can often provide lower premium rates in certain areas as compared to the big name companies such as Progressive or GEICO.

When trying to cut insurance costs, it’s a bad idea to reduce coverage to reduce premium. In too many instances, consumers will sacrifice physical damage coverage only to discover later they didn’t purchase enough coverage. The ultimate goal is to buy enough coverage at a price you can afford.

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