It’s safe to conclude that auto insurance companies don’t want you shop around. Drivers who shop for lower rates will probably move their business because there is a high probability of finding a more affordable policy. A recent survey revealed that consumers who compared rates annually saved about $3,500 over four years compared to people who don’t make a habit of comparing rates.
If finding the cheapest rates on insurance is why you’re reading this, then knowing the best way to shop and compare insurance can make it easier to find better rates.
The easiest way to get affordable Volkswagen Eos insurance in Cincinnati is to compare quotes once a year from insurance carriers who sell insurance in Ohio.
- Try to comprehend how auto insurance works and the factors you can control to lower rates. Many factors that result in higher prices like at-fault accidents and a not-so-good credit rating can be controlled by making small lifestyle or driving habit changes.
- Request price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can provide rates from one company like GEICO or Farmers Insurance, while independent agencies can give you price quotes for many different companies. View companies
- Compare the new rate quotes to the price on your current policy to see if a cheaper rate is available in Cincinnati. If you find a lower rate, make sure coverage is continuous and does not lapse.
- Tell your current agent or company of your decision to cancel the current policy and submit a completed application and payment to your new insurance company. Once coverage is bound, place the new certificate of insurance in your vehicle’s glove compartment or console.
A crucial key to this process is that you’ll want to make sure you compare the same physical damage deductibles and liability limits on every quote and and to get price estimates from as many companies as possible. Doing this guarantees a level playing field and the best rate selection.
Comparing quotes for the most affordable auto insurance policy in Cincinnati is not as hard as you think. Basically, everyone who shops around for auto insurance most likely will get better rates. Although Ohio vehicle owners must learn the way companies price insurance differently and take advantage of how the system works.
Volkswagen Eos Insurance Prices Can Be Cheaper
Many things are used when premium rates are determined. Some are obvious such as your driving record, although some other factors are not quite as obvious such as your credit history or how financially stable you are.
Shown below are a partial list of the pieces car insurance companies consider when setting prices.
Your spouse saves you money – Having a spouse may cut your premiums on your policy. It translates into being more mature than a single person and insurance companies like that married drivers get in fewer accidents.
Companies want multiple policies – The majority of insurers allow discounts to policyholders who buy several policies from them such as combining an auto and homeowners policy. Even though this discount sounds good, you still need to get quotes from other companies to help guarantee you have the best rates.
High performance equals high prices – The make and model of the car, truck or SUV you are insuring makes a significant difference in determining your rates. The lowest base rates tend to be for small economy passenger cars, but many other things help determine your insurance rates.
The next chart uses these assumptions: married male driver age 50, full coverage with $100 deductibles, and no discounts or violations. The chart compares Volkswagen Eos policy rates compared to other vehicles that have different performance rating factors.
Rental and towing coverage may not be needed – There are a lot of add-on coverages that may not really be needed but may not be useful. Insurance for rental car reimbursement, death and dismemberment, and extra equipment coverage are examples of these. You may think they are a good idea when deciding what coverages you need, but your money might be better spent on other coverage so think about removing them and cutting costs.
Insurance loss data for Volkswagen Eos vehicles – Companies use data from past claims when they file their rates in each state. Vehicles that statistically have higher prevalence or dollar amount of losses will be charged more to insure. The information below illustrates the insurance loss data used by companies for Volkswagen Eos vehicles.
For each policy coverage type, the claim probability for all vehicles averaged together is equal to 100. Numbers shown that are under 100 represent a good loss history, while values over 100 show a trend for more claims or an increased chance of larger losses than average.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Volkswagen Eos Convertible | 88 | 77 | 78 | 76 |
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Volkswagen Eos insurance analysis
The premium information displayed below covers different insurance rates for Volkswagen Eos models. Understanding more about how auto insurance policy rates are established can help drivers make informed decisions when comparing rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| EOS Komfort Turbo 2-Dr Convertible | $172 | $354 | $218 | $12 | $66 | $822 | $69 |
| EOS Luxury Turbo 2-Dr Convertible | $172 | $354 | $218 | $12 | $66 | $822 | $69 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Rate information does not factor in specific location information which can revise coverage prices considerably.
Higher deductibles save money
One of the more difficult decisions when buying insurance is where to set your physical damage deductibles. The following insurance rates determine the rate differences when you select higher and lower deductibles. The first price estimate table uses a $100 comprehensive and collision deductible and the second pricing table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| EOS Komfort Turbo 2-Dr Convertible | $220 | $416 | $226 | $14 | $68 | $969 | $81 |
| EOS Luxury Turbo 2-Dr Convertible | $220 | $416 | $226 | $14 | $68 | $969 | $81 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| EOS Komfort Turbo 2-Dr Convertible | $122 | $220 | $226 | $14 | $68 | $650 | $54 |
| EOS Luxury Turbo 2-Dr Convertible | $122 | $220 | $226 | $14 | $68 | $650 | $54 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Information does not factor in vehicle garaging location which can lower or raise insurance rates greatly.
Based on the above data, using a $100 deductible could cost the average driver approximately $27 more each month or $324 a year than quoting the higher $1,000 deductible. Since you would pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you have at least 33 months between claims, you would save money if you choose the higher deductible.
Accidents and violations increase rates
The illustration below illustrates how speeding tickets and accidents can influence Volkswagen Eos auto insurance costs for each different age category. Data assumes a single male driver, comp and collision included, $1,000 deductibles, and no policy discounts are applied.
Should you buy full coverage?
The diagram below compares Volkswagen Eos insurance costs when comparing full coverage to liability only. The rate quotes are based on no claims or driving violations, $1,000 deductibles, drivers are single, and no other discounts are factored in.
When to stop buying comprehensive and collision coverage
There is no clear-cut formula to eliminate physical damage insurance, but there is a guideline you can consider. If the yearly cost of full coverage is about 10% or more of replacement cost minus your deductible, then it might be time to buy liability only.
For example, let’s say your Volkswagen Eos book value is $3,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, you would only receive $2,000 after the policy deductible has been paid. If you are paying over $200 a year to have full coverage, then it’s probably a good time to buy liability coverage only.
There are a few situations where dropping full coverage is not advised. If you still owe money on your vehicle, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not consider dropping full coverage.
Lower-cost Cincinnati insurance rates with discounts
Insurance is easily one of your largest bills, but there could be significant discounts that can dramatically reduce your bill. Some discounts will apply when you quote, but less common discounts must be asked for prior to getting the savings.
- Switch and Save Discount – A few larger companies allow discounts for buying a new policy prior to the expiration date on your current Eos insurance policy. It can save you around 10%.
- Lower Rates for Military – Being deployed with a military unit could be rewarded with lower insurance rates.
- Senior Citizen Discount – Older drivers could receive reduced rates.
- Driver Safety – Taking part in a class that teaches driver safety techniques could earn you a small percentage discount and make you a better driver.
- Claim Free – Insureds with no claims or accidents get the best insurance rates compared to bad drivers.
- Cautious Drivers – Drivers who don’t get into accidents can save up to 40% or more on their Cincinnati car insurance quote than drivers with accidents.
- Distant Student – Children who live away from home to go to college and do not have a car can receive lower rates.
- ABS Braking Discount – Cars with ABS braking systems or traction control can avoid accidents so companies give up to a 10% discount.
- Smart Student Discounts – Being a good student can earn a discount of 20% or more. You can use this discount normally until age 25.
- Professional Organizations – Participating in specific professional or occupational memberships or organizations can get you a small discount on your next renewal.
As a footnote on discounts, most credits do not apply to your bottom line cost. Most cut individual premiums such as liability and collision coverage. Despite the fact that it seems like you could get a free insurance policy, companies wouldn’t make money that way.
The information below compares Volkswagen Eos insurance prices with and without discounts applied to the premium. The information is based on a male driver, no claims or driving violations, Ohio state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-policy, safe-driver, homeowner, multi-car, and marriage discounts applied.
Car insurance companies that have most of the discounts above include:
If you need cheaper Cincinnati car insurance quotes, ask every company to give you their best rates. Savings might not be offered in Cincinnati. To find providers who offer discounts in Ohio, follow this link.
A little work can save a LOT of money
You just read quite a bit of information on how to get a better price on Volkswagen Eos insurance in Cincinnati. The key concept to understand is the more price quotes you have, the more likely it is that you will get a better rate. You may even discover the best premium rates are with the smaller companies.
Insureds who switch companies do it for many reasons like lack of trust in their agent, questionable increases in premium, high rates after DUI convictions or even delays in paying claims. Whatever your reason, finding a new company can be less work than you think.
Some auto insurance companies do not provide rates over the internet and usually these smaller companies only sell through independent insurance agencies. Cost effective Volkswagen Eos insurance can be found online in addition to many Cincinnati insurance agents, so compare prices from both to have the best chance of lowering rates.
Additional information can be found at the links below
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
- How Much are Auto Insurance Quotes for Low Credit Scores in Cincinnati? (FAQ)
- How Much is Auto Insurance for 4×4 Vehicles in Cincinnati? (FAQ)
- Preventing Carjacking and Theft (Insurance Information Institute)
- Prom Night Tips for Teen Drivers (State Farm)
- When is the Right Time to Switch Car Insurance Companies? (Allstate)
- Red Light Cameras (State Farm)