Cheapest 2007 Cadillac Escalade Insurance Rates in 2023
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UPDATED: May 12, 2022
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Trying to find cheaper insurance rates for your Cadillac Escalade? Nobody likes paying for insurance, in particular when they are paying too much.
Lots of insurers contend for your insurance dollar, and it can be difficult to compare rates to find the best price available.
It’s important to compare prices yearly since insurance rates change regularly. If you had the best deal on Escalade coverage last year you may be paying too much now. Forget anything you know (or think you know) about insurance because I’m going to let you in on the secrets to the fastest way to buy cheaper insurance.
If you are paying for car insurance now, you stand a good chance to be able to cut costs considerably using this strategy. Finding the best rates is quite easy. But car owners do need to know the methods companies use to price insurance differently and use this information to your advantage.
Automobile Insurance Quotes
Most companies such as State Farm and Allstate provide prices online. Getting online quotes is quite easy as you simply enter your required coverages as detailed in the form. When complete, the company’s rating system collects your driving and credit reports and returns pricing information. Being able to quote online makes it a lot easier to compare rates but the time required to go to a lot of sites and fill out multiple forms can be a bit repetitive. But it is imperative to have as many quotes as possible in order to find the best price on insurance.
A quicker way to compare insurance pricing uses one form to obtain quotes from a bunch of companies at once. The form is fast, eliminates form submissions, and makes price shopping online much simpler. After sending the form, it is rated and you are able to buy any one of the returned quotes. If the quotes result in lower rates, you simply finish the application and purchase the new policy. The entire process takes 15 minutes at the most and you will find out if you’re overpaying now.
To find out how much you can save on insurance, click here to open in new window and enter your vehicle and coverage information. To compare your current rates, we recommend that you enter the insurance coverages as shown on your current policy. This way, you will get rate quotes for exact coverage.
Lots of discounts mean lots of savings
Companies that sell car insurance don’t list every discount in a way that’s easy to find, so we researched some of the more common as well as the least known insurance coverage savings.
- Use Seat Belts – Drivers who require all occupants to buckle their seat belts could cut 10% or more on the medical payments or PIP coverage costs.
- Safe Driver Discount – Drivers who don’t get into accidents can pay as much as 50% less on Escalade coverage than drivers with accidents.
- Federal Employees – Active or retired federal employment can save as much as 8% on Escalade coverage depending on your company.
- Distant Student – Children who are attending college and do not have a car may be able to be covered for less.
- Student Driver Training – Make teen driver coverage more affordable by requiring them to complete a driver education course if it’s offered in school.
- Multiple Policy Discount – If you have multiple policies with the same company you will save approximately 10% to 15%.
- Auto/Life Discount – Some companies give a break if you buy life insurance from them.
As a disclaimer on discounts, most discount credits are not given to your bottom line cost. Some only apply to individual premiums such as liability, collision or medical payments. So when the math indicates you could get a free insurance coverage policy, you won’t be that lucky.
For a list of companies who offer insurance coverage discounts, click here.
Situations that might require an agent
When choosing the best car insurance coverage for your vehicles, there really is not a single plan that fits everyone. Everyone’s situation is a little different and a cookie cutter policy won’t apply. These are some specific questions might help in determining whether or not you may require specific advice.
- Does my insurance cover a custom paint job?
- Do I need medical payments coverage since I have good health insurance?
- Is motorclub coverage worth it?
- Who is covered when they drive my 2007 Cadillac Escalade?
- What is an SR-22 filing?
- Should I buy more coverage than the required minimum liability coverage?
If you can’t answer these questions then you might want to talk to an agent. To find lower rates from a local agent, complete this form or click here for a list of car insurance companies in your area.
Cadillac Escalade insurance rates are influenced by…
It’s important that you understand the different types of things that play a part in calculating the price you pay for car insurance. When you know what positively or negatively impacts premium levels allows you to make educated decisions that may reward you with much lower annual insurance costs.
Shown below are some of the items companies use to determine rates.
- Lower rates with optional equipment – Owning a car with an alarm system can help bring down rates. Anti-theft features such as GM’s OnStar, tamper alarm systems and vehicle immobilizers can help prevent auto theft.
- Do you need the policy add-ons? – There are many additional coverages that can waste your money on your car insurance policy. Coverages like rental car reimbursement, accident forgiveness and motor club memberships are some examples. They may seem like a good idea when talking to your agent, but if you don’t need them get rid of them and save.
- High credit ratings translate to low rates – Credit score is a huge factor in determining what you pay for car insurance. Therefore, if your credit score is lower than you’d like, you could pay less to insure your 2007 Cadillac Escalade by improving your rating. Consumers who have high credit ratings tend to be less risk to insure as compared to drivers with poor credit.
- Occupation reflects on rates – Did you know that where you work can have an impact on rates? Careers like real estate brokers, architects and financial analysts tend to pay higher average rates attributed to high stress and lots of time spent at work. Conversely, professions such as pilots, engineers and homemakers have the lowest average rates on Escalade coverage.
- Don’t let your coverage lapse – Allowing your car insurance policy to lapse is a guaranteed way to increase your car insurance rates. And not only will insurance be more expensive, but being ticketed for driving with no insurance may earn you a license revocation or jail time.Then you may be required to file a SR-22 with your state DMV.
- Multiple policies with one company can save – Most car insurance companies provide better rates to insureds who consolidate policies with them, otherwise known as a multi-policy discount. Even though this discount sounds good, it’s still a good idea to comparison shop to confirm you are receiving the best rates possible. You may still be able to find a better deal by buying insurance from more than one company.
- Tickets mean higher rates – Only having one speeding ticket can boost insurance rates forty percent or more. Careful drivers tend to pay less for car insurance than bad drivers. Drivers with serious tickets such as reckless driving, hit and run or driving under the influence are required to submit a SR-22 or proof of financial responsibility with the DMV in their state in order to continue driving.
- Increase deductibles and save – Coverage for physical damage, termed comprehensive and collision coverage on your policy, is used to repair damage to your Cadillac. Examples of covered claims could be running into the backend of another car, damage caused by hail, and rolling your vehicle. Your deductibles are how much you are required to spend if you file a covered claim. The more you’re willing to pay, the less your company will charge you for insurance on Escalade coverage.
Insurance coverage options for a 2007 Cadillac Escalade
Understanding the coverages of insurance can be of help when determining which coverages you need for your vehicles. The terms used in a policy can be ambiguous and nobody wants to actually read their policy. Shown next are the normal coverages found on the average insurance policy.
This coverage covers damage to your Escalade resulting from colliding with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.
Collision coverage protects against claims like damaging your car on a curb, hitting a mailbox, sustaining damage from a pot hole and sideswiping another vehicle. Paying for collision coverage can be pricey, so consider removing coverage from lower value vehicles. Drivers also have the option to increase the deductible to save money on collision insurance.
Comprehensive (Other than Collision)
Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against things like falling objects, theft, a tree branch falling on your vehicle and hitting a bird. The maximum payout your insurance company will pay is the actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Protection from uninsured/underinsured drivers
Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they are uninsured or don’t have enough coverage. Covered losses include hospital bills for your injuries and damage to your Cadillac Escalade.
Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family.
This coverage will cover damages or injuries you inflict on other’s property or people that is your fault. This insurance protects YOU from legal claims by others. It does not cover your own vehicle damage or injuries.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 25/50/25 that translate to $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged property.
Liability can pay for things such as repair costs for stationary objects, repair bills for other people’s vehicles and attorney fees. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as much as you can afford.
Medical expense insurance
Coverage for medical payments and/or PIP reimburse you for short-term medical expenses for surgery, doctor visits, funeral costs, ambulance fees and EMT expenses. They can be used in conjunction with a health insurance plan or if there is no health insurance coverage. Coverage applies to not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is not available in all states and may carry a deductible
Coverage on a shoestring budget
The cheapest 2007 Cadillac Escalade insurance can be sourced online and with local insurance agents, and you should compare price quotes from both to have the best selection. Some insurance providers do not offer online price quotes and usually these small insurance companies provide coverage only through local independent agents.
When trying to cut insurance costs, never reduce coverage to reduce premium. There are a lot of situations where consumers will sacrifice full coverage only to discover later that a couple dollars of savings turned into a financial nightmare. Your focus should be to buy enough coverage for the lowest price while still protecting your assets.
Additional information can be found on the following sites:
- Young Drivers: The High Risk Years Video (iihs.org)
- Eight Auto Insurance Myths (Insurance Information Insitute)
- Distracted Driving (Insurance Information Insitute)
- State Car Insurance Guides (GEICO)
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