Anyone knows that insurance companies want to keep your business as long as possible. Drivers who shop around will presumably switch car insurance companies because they have good chances of finding lower prices. A study discovered that drivers who regularly compared price quotes saved on average $865 a year compared to drivers who never shopped around for better prices.
If finding low prices for car insurance in Virginia Beach is your ultimate goal, knowing how to shop for insurance can help simplify the task of finding more affordable coverage.
If saving the most money is your goal, then the best way to find cheaper quotes for Volkswagen Beetle insurance in Virginia Beach is to start comparing prices yearly from companies in Virginia. This can be done by following these guidelines.
First, get an understanding of auto insurance and the changes you can make to keep rates in check. Many things that increase rates such as traffic violations and a poor credit rating can be amended by paying attention to minor details. Read the full article for tips to help keep rates affordable and get bigger discounts.
Second, obtain price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can give quotes from a single company like GEICO and Allstate, while independent agents can quote rates from multiple companies.
Third, compare the new rate quotes to your existing policy to see if you can save by switching companies. If you find a lower rate and switch companies, ensure there is no coverage lapse between policies.
An important note is to use identical limits and deductibles on every quote request and and to get quotes from as many different insurance providers as possible. This provides a level playing field and a complete price analysis.
Locating the best rates in Virginia Beach can be made easier if you know where to look. If you are insured now or are looking for a new policy, take advantage of these tips to cut your premiums without having to cut coverage. Smart buyers only need to know how to get comparison rates online from multiple companies.
Volkswagen Beetle coverage statistics
The premium information displayed below showcases a range of insurance costs for Volkswagen Beetle models. Learning more about how insurance policy premiums are established can help customers make informed coverage decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Beetle S 2-Dr Hatchback||$170||$386||$264||$16||$80||$916||$76|
|Beetle 2-Dr Convertible||$220||$454||$206||$12||$62||$954||$80|
|Get Your Own Custom Quote Go|
Data variables include single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Virginia minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Premium amounts do not factor in specific Virginia Beach garaging location which can change coverage rates significantly.
Volkswagen Beetle liability rates compared to full coverage
The diagram below visualizes the comparison of Volkswagen Beetle annual premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rates are based on no claims or driving violations, $250 deductibles, single status, and no policy discounts are applied.
When to stop buying physical damage coverage
There is no clear-cut rule for dropping physical damage coverage on your policy, but there is a broad guideline. If the annual cost of your full coverage insurance is about 10% or more of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.
For example, let’s pretend your Volkswagen Beetle claim settlement value is $8,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $7,000 after you pay the deductible. If you are paying in excess of $700 annually for full coverage, then you may need to consider dropping full coverage.
There are some scenarios where removing full coverage is not in your best interest. If you still owe a portion of the original loan, you are required to maintain full coverage in order to keep the loan. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.
Smart Buyers Save More
The best way to find cheaper car insurance is to take a look at a few of the rating criteria that go into determining the level of your policy premiums. If you have a feel for what determines base rates, this allows you to make good choices that could result in lower car insurance prices.
Shown below are a partial list of the pieces companies use to determine prices.
Increase coverage deductibles and save – Comp and collision deductibles are how much you are willing to pay in the event of a claim. Coverage for physical damage, also known as collision and other-than-collision, protects your car from damage. Some examples of claims that would be covered are a windshield broken by a bird, animal collisions, and damage caused by road hazards. The more of the claim you choose to pay out-of-pocket, the less your car insurance will be.
High performance vehicles cost more to insure – The performance level of the car, truck or SUV you need insurance for makes a big difference in your premium level. The best insurance prices are usually found on small economy passenger vehicles, but the cost you end up paying is determined by many additional factors.
The following chart is based on a married female driver age 50, full coverage with $1000 deductibles, and no discounts or violations. It shows Volkswagen Beetle policy rates compared to other models that have a range of performance risks.
Car plus home equals more savings – Many car insurance companies apply discounts to customers who consolidate policies with them. It’s known as a multi-policy discount. Discounts can add up to anywhere from five to ten percent in most cases. If you currently are using one company, consumers should still shop around to confirm you are receiving the best rates possible.
Getting married is a good thing – Your spouse helps lower the price on your car insurance policy. Having a significant other may mean you are more stable financially and it’s proven that drivers who are married are more cautious.
Volkswagen Beetle insurance claim data – Insurance companies analyze historical claim data to help determine the price you pay. Models that historically have higher claim amounts or frequency will be charged more to insure. The table below outlines the insurance loss data for Volkswagen Beetle vehicles.
For each policy coverage, the claim amount for all vehicles, without regard to make or model, is considered to be 100. Percentages below 100 indicate better than average losses, while values that are 100 or greater point to more claims or an increased probability of a larger loss.
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Volkswagen Beetle Convertible||85||78||95||76||89||79|
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Which car insurance company is best in Virginia?
Selecting the best company is difficult considering how many companies provide coverage in Virginia. The company information below may help you decide which companies you want to consider when shopping around.
Top 10 Virginia Beach Car Insurance Companies by A.M. Best Rank
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Erie Insurance – A+
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- Nationwide – A+
- The Hartford – A+
Cover all your bases
We just presented some good ideas how you can lower your Volkswagen Beetle insurance prices in Virginia Beach. It’s most important to understand that the more rate comparisons you have, the better your chances of lowering your rates. Consumers could even find that the biggest savings come from some of the lesser-known companies. Smaller companies can often insure niche markets at a lower cost than the large multi-state companies such as State Farm or Progressive.
Budget-friendly insurance in Virginia Beach can be found from both online companies in addition to many Virginia Beach insurance agents, and you need to price shop both to have the best rate selection. Some insurance providers do not provide internet price quotes and these smaller providers only sell through independent insurance agencies.
Additional detailed information can be found in these articles:
- Crash Avoidance Technologies FAQ (iihs.org)
- Who Has the Cheapest Car Insurance Quotes for Welfare Recipients in Virginia Beach? (FAQ)
- Who Has the Cheapest Virginia Beach Auto Insurance for Veterans? (FAQ)
- Who Has Affordable Auto Insurance Quotes for a Jeep Grand Cherokee in Virginia Beach? (FAQ)
- How Much is Virginia Beach Auto Insurance for High Mileage Drivers? (FAQ)
- Top Signs Your Brakes are Giving Out (State Farm)
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)
- Choosing an Insurance Company (Insurance Information Institute)