If you want to save the most money, the best way to get budget Jaguar XK insurance is to annually compare prices from insurance carriers who provide auto insurance in Cincinnati. Drivers can shop around by following these steps.
Step 1: Get a basic knowledge of how companies set rates and the things you can control to drop your rates. Many rating criteria that cause rate increases like traffic violations and poor credit rating can be remedied by making minor changes to your lifestyle. This article gives more details to help keep rates affordable and get bigger discounts.
Step 2: Request price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give prices from one company like Progressive and State Farm, while independent agencies can give you price quotes for many different companies.
Step 3: Compare the new quotes to your current policy premium to see if a cheaper price is available in Cincinnati. If you can save money and switch companies, ensure there is no coverage lapse between policies.
Step 4: Tell your current company to cancel your existing policy. Submit the application along with any required down payment to the newly selected company. As soon as coverage is bound, place the new proof of insurance paperwork in an easily accessible location in your vehicle.
The key aspect of shopping around is that you’ll want to compare the same coverage limits and deductibles on every quote request and and to get price estimates from as many companies as feasibly possible. Doing this guarantees the most accurate price comparison and a good representation of prices.
We don’t have to tell you that insurance companies don’t want you to look for cheaper rates. Drivers who get comparison quotes at least once a year will, in all likelihood, move their business because there is a high probability of finding a lower-priced policy. A recent insurance study discovered that people who did price comparisons regularly saved as much as $70 a month as compared to drivers who never shopped around for cheaper prices.
If finding the lowest price on insurance is why you’re here, then learning about how to shop and compare insurance premiums can help simplify the task of finding more affordable coverage.
The easiest way to compare insurance rates in your area is to take advantage of the fact almost all companies have advanced systems to quote your coverage. The only thing you need to do is take a few minutes to give details like if your license is active, whether the vehicles are used for commuting, marital status, and any included safety features. That rating information is instantly provided to many different companies and they return quotes within a short period of time.
If you would like to start a quote now, click here and find out if you can get cheaper insurance in Cincinnati.
The companies in the list below can provide price comparisons in Cincinnati, OH. If your goal is to find the cheapest car insurance in Cincinnati, it’s a good idea that you compare several of them to get the best price comparison.
Rates and data analysis
The coverage information displayed below outlines estimates of insurance policy prices for Jaguar XK models. Understanding more about how insurance premiums are formulated is important for you to make decisions when shopping around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XK Portfolio 2-Dr Coupe | $162 | $354 | $198 | $12 | $60 | $786 | $66 |
| XK 2-Dr Coupe | $162 | $354 | $198 | $12 | $60 | $786 | $66 |
| XK Portfolio 2-Dr Convertible | $174 | $324 | $234 | $14 | $70 | $816 | $68 |
| XK 2-Dr Convertible | $174 | $324 | $234 | $14 | $70 | $816 | $68 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Estimates do not factor in vehicle location which can raise or lower premium rates considerably.
An analysis of deductible level
The hardest decision when buying coverage is where to set your physical damage deductibles. The following tables show the differences in price when you choose different deductibles. The first table uses a $250 physical damage coverage deductible and the second price grid uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XK Portfolio 2-Dr Coupe | $288 | $612 | $192 | $12 | $58 | $1,187 | $99 |
| XK 2-Dr Coupe | $288 | $612 | $192 | $12 | $58 | $1,187 | $99 |
| XK Portfolio 2-Dr Convertible | $310 | $558 | $226 | $14 | $68 | $1,201 | $100 |
| XK 2-Dr Convertible | $310 | $558 | $226 | $14 | $68 | $1,201 | $100 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XK Portfolio 2-Dr Coupe | $234 | $494 | $192 | $12 | $58 | $990 | $83 |
| XK 2-Dr Coupe | $234 | $494 | $192 | $12 | $58 | $990 | $83 |
| XK Portfolio 2-Dr Convertible | $252 | $450 | $226 | $14 | $68 | $1,010 | $84 |
| XK 2-Dr Convertible | $252 | $450 | $226 | $14 | $68 | $1,010 | $84 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Prices do not factor in specific location information which can increase or decrease price quotes noticeably.
Using the data above, we can ascertain that using a $250 deductible costs an average of $16 more each month or $192 annually than quoting the higher $500 deductible. Due to the fact that you would have to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you have at least 16 months between claim filings, you would probably save some money if you opt for a higher deductible. The table below illustrates the way this decision is made.
| Average monthly premium for $250 deductibles: | $100 |
| Average monthly premium for $500 deductibles (subtract): | – $84 |
| Monthly savings from raising deductible: | $16 |
| Difference between deductibles ($500 – $250): | $250 |
| Divide difference by monthly savings: | $250 / $16 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 16 months |
Poor driving habits will raise your car insurance rates
The chart below demonstrates how citations and at-fault claims can drive up Jaguar XK car insurance rates for each age group. The price estimates are based on a married female driver, comp and collision included, $100 deductibles, and no policy discounts are applied.
Full coverage rates compared to liability-only
The diagram below illustrates the comparison of Jaguar XK auto insurance costs with full physical damage coverage compared to only buying liability only. The prices are based on no accidents, no driving violations, $250 deductibles, single status, and no discounts are applied to the premium.
Should you pay for full coverage?
There is no exact formula to stop paying for full coverage on your policy, but there is a general guideline. If the annual cost of coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your Jaguar XK settlement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, you would only receive $6,000 after the policy deductible has been paid. If you are paying in excess of $600 annually to have full coverage, the it may be a good time to stop paying for full coverage.
There are a few situations where buying only liability insurance is not advised. If you still have a lienholder on your title, you are required to maintain full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should keep full coverage in place.
Why you need insurance for your vehicle
Despite the high insurance cost for a Jaguar XK in Cincinnati, paying for car insurance is most likely required but also gives you several important benefits.
First, just about all states have minimum liability requirements which means it is punishable by state law to not carry a minimum amount of liability coverage in order to license the vehicle. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if you have a loan on your Jaguar XK, more than likely the lender will have a requirement that you have full coverage to protect their interest in the vehicle. If you default on your policy, the lender will be forced to insure your Jaguar at a much higher premium rate and force you to pay for the expensive policy.
Third, insurance protects not only your Jaguar XK but also your assets. Insurance will also pay for most medical and hospital costs for you, any passengers, and anyone injured in an accident. Liability insurance also pays expenses related to your legal defense if you are sued as the result of your driving. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will cover the repair costs.
The benefits of having car insurance outweigh the cost, particularly when you have a large claim. Despite what companies tell you, the average driver is overpaying more than $800 each year so you should quote and compare rates once a year at a minimum to help ensure money is not being wasted.
How Insurance Providers Determine Jaguar XK Insurance Prices
Many factors are taken into consideration when quoting car insurance. Some of the criteria are obvious such as traffic violations, although some other factors are not as apparent such as your credit history or your financial responsibility.
The itemized list below are some of the items used by insurance companies to determine rates.
- Pay more of a claim out-of-pocket – Physical damage coverage, also known as collision and other-than-collision, covers your vehicle from damage. Some coverage claims would be running into the backend of another car, hail damage, and damage caused by flying debris. Deductibles for physical damage are the amount of money you are required to spend if a covered claim is submitted. The more of the claim you are required to pay out-of-pocket, the lower your rates will be.
- High credit rating translates to low prices – Your credit history can be an important factor in determining what you pay for insurance. People that have good credit tend to be more responsible than those with bad credit. If your credit history is not that good, you could pay less to insure your Jaguar XK if you improve your credit rating.
- Never allow your insurance to lapse – Driving without insurance coverage in place can get your license suspended and any future policy may cost more because you let your insurance lapse. And not only will your rates increase, not being able to provide proof of insurance will get you a license revocation or jail time.
- Where you live is a factor – Living in small towns and rural areas is a positive aspect when trying to find low car insurance rates. Residents of big cities have much more traffic and a longer drive to work. Lower population means a lower chance of having an accident.
- Liability is critical – Your insurance policy’s liability coverage kicks in when you are found to be at fault for physical damage or personal injury to other. It will provide legal defense coverage up to the limits shown on your policy. This coverage is very inexpensive compared to insuring for physical damage coverage, so drivers should make sure they buy enough to cover all assets.
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Jaguar XK historical loss data – Insurers use data from past claims to calculate a price that will offset losses. Models that historically have increased claim numbers or amounts will have higher rates for specific coverages. The table below illustrates the historical loss data for Jaguar XK vehicles.
For each coverage type, the statistical loss for all vehicles combined as an average is represented as 100. Percentages below 100 indicate a favorable loss history, while values that are above 100 point to more frequent losses or a tendency for losses to be larger than average.
Insurance Loss Ratings for Jaguar XK Vehicles Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Jaguar XK 2dr 167 Jaguar XK Convertible 119 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Cheap Jaguar XK insurance rates in Cincinnati
Auto insurance is expensive, but you might find some hidden discounts that may help make it more affordable. Some trigger automatically at the time of quoting, but a few need to be inquired about before they will apply.
- Homeowners Savings – Being a homeowner can get you a discount because owning a home demonstrates responsibility.
- Bundle and Save – If you insure your home and vehicles with one insurance company you will save as much as 10 to 15 percent.
- Active Service Discounts – Being on active deployment in the military may qualify for rate reductions.
- No Charge for an Accident – This isn’t a discount exactly, but certain companies will let one accident slide before your rates go up if you have no claims for a certain period of time.
- Smart Student Discounts – Getting good grades may save you up to 25%. You can use this discount normally up until you turn 25.
- Student Discount for Driver Training – Cut your cost by having your teen driver complete a driver education course if it’s offered in school.
- Organization Discounts – Joining specific professional or occupational memberships or organizations could earn you a nice discount on your policy.
- Save with a New Car – Insuring a new XK can save up to 30% compared to insuring an older model.
- Discount for Passive Restraints – Vehicles equipped with air bags may get savings of 20 to 30 percent.
- Paper-free Discount – A handful of auto insurance companies provide a small discount for buying your policy over the internet.
One thing to note about discounts is that most discounts do not apply to the entire policy premium. Most only cut the cost of specific coverages such as collision or personal injury protection. So even though you would think all those discounts means the company will pay you, that’s just not realistic.
The illustration below visualizes the comparison of Jaguar XK annual premium costs with and without policy discounts. The premiums are based on a male driver, a clean driving record, no at-fault accidents, Ohio state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, multi-policy, homeowner, claim-free, and multi-car discounts applied.
Companies who might offer most of the discounts above include:
If you are trying to find low cost Cincinnati auto insurance quotes, ask every insurance company to apply every possible discount. Some of the discounts discussed earlier may not apply in your state. To see insurers that offer discounts in Cincinnati, click this link.
Your car insurance coverage should be tailored to you
When it comes to buying proper insurance coverage for your vehicles, there isn’t really a perfect coverage plan. Every insured’s situation is different and your policy should reflect that.
Here are some questions about coverages that may help you determine if your situation might need professional guidance.
- What if I owe more than I can insure my car for?
- Should I buy more coverage than the required Ohio minimum liability coverage?
- Will my insurance pay for OEM parts?
- When would I need rental car insurance?
- How much will a speeding ticket raise my rates?
- Can I afford to buy a different vehicle if my Jaguar XK is totaled?
- Do they offer discounts for home and auto coverage?
- Do I have any recourse if my insurance company denies a claim?
If it’s difficult to answer those questions but you think they might apply to your situation, you may need to chat with a licensed agent. To find an agent in your area, fill out this quick form or you can also visit this page to select a carrier It’s fast, doesn’t cost anything and can provide invaluable advice.
Buying from car insurance agents
A small number of people would rather buy from a licensed agent and there is nothing wrong with that. Good agents can help you choose the best coverages and give you someone to call. One of the great benefits of price shopping on the web is you may find cheaper car insurance rates but still work with a licensed agent.
After completing this short form, your insurance coverage information is emailed to local insurance agents in Cincinnati that can provide free Cincinnati auto insurance quotes to get your business. You won’t need to do any legwork because quoted prices will be sent to the email address you provide. In the event you want to compare rates from a particular provider, you just need to find their quoting web page and fill out their quote form.
Finding a good insurer requires you to look at more than just a cheap price. You should also get answers to these questions.
- Do they specialize in personal lines auto insurance in Cincinnati?
- Can you use your own choice of collision repair facility?
- Do they have a Better Business Bureau rating in Cincinnati?
- Do they review policy coverages at every renewal?
- Does the agent recommend any additional coverage?
- Do they offer claims assistance after hours?
- Are they paid to recommend certain coverages?
Do you need an independent or exclusive auto insurance agent?
If you are wanting to purchase auto insurance from a reputable agency, you should know the different types of agencies and how they differ in how they quote coverages. Auto insurance agencies may be either independent agents or exclusive agents. Either type can handle auto insurance, but it’s a good idea to understand why they differ since it may influence buying decisions.
Exclusive Agents
These agents write business for a single company and some examples include Farmers Insurance, State Farm, or Allstate. These agents are not able to compare other company’s rates so it’s a take it or leave it situation. Exclusive agencies are well trained on sales techniques which can be an advantage. Some people will only buy from the same agent for years mainly due to the brand rather than having the cheapest rates.
Below are exclusive agencies in Cincinnati who may provide you with comparison quotes.
- Chuck Detmering – State Farm Insurance Agent
2638 Kipling Ave – Cincinnati, OH 45239 – (513) 741-4500 – View Map - Bob Donnelly – State Farm Insurance Agent
2063 Beechmont Ave – Cincinnati, OH 45230 – (513) 231-4975 – View Map - Dennis Howard – State Farm Insurance Agent
309 W Kemper Rd – Cincinnati, OH 45246 – (513) 771-1436 – View Map
Independent Agents
Agents in the independent channel do not write with just one company so they can quote policies through many companies and find the cheapest rate. If they find a cheaper price, your agent can switch companies and you don’t have to switch agencies. When comparing rate quotes, you will definitely want to get some free quotes from a few independent agents to have the most options to choose from. Most also have access to less well-known companies that may have much lower rates than larger companies.
Shown below are independent insurance agencies in Cincinnati that are able to give price quote information.
- R G Mc Graw Insurance Inc
324 E 4th St – Cincinnati, OH 45202 – (513) 381-7881 – View Map - Advantage Insurance Network LLC
4739 Delhi Ave – Cincinnati, OH 45238 – (513) 922-9460 – View Map - Kent Insurance Inc
7520 Montgomery Rd # 2 – Cincinnati, OH 45236 – (513) 791-6060 – View Map
How to find a good Cincinnati car insurance company
Finding the best auto insurance company is difficult considering how many companies there are to choose from in Cincinnati. The company ratings shown next may help you analyze which coverage providers you want to consider shopping prices with.
Top 10 Cincinnati Car Insurance Companies Ranked by Claims Service
- Progressive
- Travelers
- Liberty Mutual
- Nationwide
- USAA
- GEICO
- AAA Insurance
- Safeco Insurance
- Esurance
- The General
Smart shoppers get results
Budget-conscious Jaguar XK insurance can be purchased online as well as from insurance agents, so you should compare both to have the best selection. Some insurance providers may not have online rate quotes and usually these regional carriers sell through independent agents.
We covered many ideas to lower your Jaguar XK insurance prices in Cincinnati. The key thing to remember is the more you quote Cincinnati auto insurance, the better your chances of lowering your rates. Drivers may even discover the most savings is with a small mutual company. Regional companies often have lower rates on specific markets compared to the large companies like Allstate and Progressive.
While you’re price shopping online, you should never sacrifice coverage to reduce premiums. In many instances, an insured cut liability coverage limits only to regret that saving that couple of dollars actually costed them tens of thousands. The goal is to purchase a proper amount of coverage at a price you can afford and still be able to protect your assets.
Additional information can be found below:
- Older Drivers FAQ (iihs.org)
- What Insurance is Cheapest for Real Estate Agents in Cincinnati? (FAQ)
- Who Has the Cheapest Cincinnati Car Insurance Rates for a Ford Explorer? (FAQ)
- Young Drivers: The High Risk Years Video (iihs.org)
- Choosing a Car for Your Teen (State Farm)
- Uninsured Motorists: Threats on the Road (Insurance Information Institute)
- Anti-Lock Brake FAQ (iihs.org)