If saving money is your primary concern, then the best way to get discount Jeep Cherokee insurance is to do a yearly price comparison from companies that insure vehicles in Indianapolis. Drivers can shop around by completing these steps.
- Step 1: Read about coverages and the changes you can make to prevent expensive coverage. Many things that cause high rates such as speeding tickets, accidents and an unacceptable credit rating can be rectified by making lifestyle changes or driving safer.
- Step 2: Compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only quote rates from one company like GEICO or Farmers Insurance, while independent agencies can provide prices from many different companies.
- Step 3: Compare the quotes to the price on your current policy and determine if there is any savings. If you find a better price, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Step 4: Tell your current agent or company to cancel your current coverage. Submit a completed policy application and payment for your new policy. Make sure you place the new certificate verifying coverage with the vehicle registration.
An important part of this process is to use identical deductibles and limits on each price quote and to quote with as many companies as feasibly possible. Doing this guarantees a fair price comparison and a complete rate analysis.
It’s an obvious assumption that car insurance companies don’t want you to look at other companies. People who shop around at least once a year will, in all likelihood, buy a different policy because there is a good chance of finding a lower-cost company. A recent survey revealed that consumers who shopped around saved approximately $3,400 over four years compared to policyholders who didn’t regularly shop around.
If finding budget-friendly rates on Jeep Cherokee insurance is your goal, learning the best way to shop and compare car insurance can save time and money.
If you have a current auto insurance policy or just want to reduce your rates, follow these tips to reduce the price you pay and possibly find even better coverage. Buying the cheapest auto insurance in Indianapolis is easy if you know what you’re doing. Smart buyers just need to understand the proper way to quote multiple rates using one simple form.
Shop Jeep Cherokee insurance online
The companies shown below offer comparison quotes in Indianapolis, IN. If several companies are displayed, we suggest you visit two to three different companies to get the most affordable price.
Cheap Indianapolis auto insurance rates with discounts
Some insurance providers don’t always publicize all discounts very clearly, so below is a list both well-publicized and also the more inconspicuous credits that you can use to lower your rates.
- Include Life Insurance and Save – If the company offers life insurance, you could get a discount if you purchase life insurance from them.
- Discounts for Responsible Drivers – Insureds who avoid accidents can get discounts for up to 45% lower rates than drivers with accident claims.
- Good Students Pay Less – Getting good grades may save as much as 25% on a Indianapolis car insurance quote. The discount lasts up to age 25.
- Fewer Miles Equal More Savings – Driving less could earn substantially lower auto insurance rates.
- ABS Brakes – Anti-lock brake equipped vehicles are safer to drive and will save you 10% or more on Cherokee insurance in Indianapolis.
- Student in College – Older children who live away from home at college and won’t have access to an insured vehicle may be able to be covered for less.
- Indianapolis Homeowners Discount – Owning your own home or condo can help you save on auto insurance because maintaining a house is proof that your finances are in order.
- Claim Free – Good drivers with no accidents pay less as compared to policyholders that have many claims.
- Air Bags and Passive Restraints – Vehicles with factory air bags or automatic seat belts may earn rate discounts of 25 to 30%.
- Service Members Pay Less – Having a family member in the military could be rewarded with lower auto insurance rates.
As a sidenote, some credits don’t apply to the overall cost of the policy. Most only reduce specific coverage prices like collision or personal injury protection. So despite the fact that it appears you could get a free auto insurance policy, you aren’t that lucky.
Companies and a summarized list of policyholder discounts are shown below.
- State Farm policyholders can earn discounts including multiple policy, driver’s education, accident-free, anti-theft, and good student.
- Farmers Insurance offers discounts for pay in full, teen driver, bundle discounts, multi-car, business and professional, mature driver, and good student.
- GEICO has savings for emergency military deployment, five-year accident-free, daytime running lights, anti-theft, federal employee, and air bags.
- American Family offers premium reductions for TimeAway discount, good driver, accident-free, mySafetyValet, defensive driver, good student, and bundled insurance.
- Nationwide may offer discounts for easy pay, defensive driving, anti-theft, multi-policy, and family plan.
- Progressive has discounts for good student, multi-vehicle, online quote discount, multi-policy, online signing, homeowner, and continuous coverage.
When comparing rates, check with each company or agent how you can save money. Discounts might not be available to policyholders in your state. If you would like to view insurance companies who offer cheap Jeep Cherokee insurance quotes in Indiana, click this link.
When to have guidance from an insurance agency
Many people still prefer to buy from a local agent and we recommend doing that Professional agents can point out coverage gaps and will help you if you have claims. The biggest benefit of comparing car insurance online is that you can obtain better rates and also buy local.
To make it easy to find an agent, after completing this short form, your information is instantly submitted to local insurance agents who will give competitive quotes for your business. There is no reason to visit any agencies as quotes are delivered instantly to you. If you want to get a price quote for a specific company, don’t hesitate to find their quoting web page to submit a rate quote request.
Deciding on an provider shouldn’t rely on just a cheap price. Ask your prospective agent these questions:
- What kind of financial rating does the company have?
- Do they have any clout with companies to ensure a fair claim settlement?
- How many years have they been established?
- If independent agents, which companies do they recommend?
- What company do they have the most business with?
When researching a reliable insurance agency, it’s helpful to know the different agency structures and how they differ in how they can insure your vehicles. Car insurance agents can be categorized as either independent agents or exclusive agents. Either one can insure your vehicles, but it’s worth learning the differences because it may have an impact on buying decisions.
Exclusive Car Insurance Agents
Agents in the exclusive channel normally can only provide a single company’s rates like Allstate and State Farm. These agents are not able to shop your coverage around so they have to upsell other benefits. They are highly trained on their company’s products and that can be a competitive advantage.
The following are exclusive agents in Indianapolis that can give you comparison quotes.
Independent Agents (or Brokers)
These type of agents can sell policies from many different companies so as a result can place your coverage with many different companies and find the cheapest rate. To transfer your coverage to a different company, they simply move your policy to a different company and you can keep the same agent. When shopping rates, we highly recommend that you include several independent insurance agents in order to have the best price comparison.
The following are Indianapolis independent agents who can help you get price quote information.
How Your Cherokee Insurance Costs are Determined
One of the most helpful ways to save on auto insurance is to to have a grasp of the different types of things that play a part in calculating your auto insurance rates. If you have a feel for what influences your rates, this allows you to make educated decisions that could result in cheaper rates.
Listed below are some of the things auto insurance companies consider when setting prices.
Vehicles with better crash test results save money – Vehicles with high crash test scores get lower rates. Highly rated vehicles help reduce the chance of injuries in an accident and lower rates of occupant injuries translates into savings for insurance companies and more competitive rates for policyholders. If your Jeep scored at minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may cost less to insure.
Optional features that cut prices – Selecting a car model with anti-theft technology or alarm system can help bring down rates. Anti-theft features like GM’s OnStar, tamper alarm systems and vehicle immobilizers can thwart vehicle theft.
Marriage is a factor – Getting married may save some money on auto insurance. Having a significant other generally demonstrates drivers are less irresponsible and it’s statistically proven that married drivers tend to file fewer claims.
Prices can change based on your address – Being located in smaller towns and rural areas of the country can be a good thing when talking about auto insurance. Less people translates into fewer accident claims and lower theft and vandalism rates. City drivers regularly have more auto accidents and longer commute times. The longer drive time means more chance of being in an accident.
Premiums drop with age – Beginning drivers in Indiana have been known to be less responsible with other occupants in the car so auto insurance rates are higher. Parents adding a teen driver to your policy will cause a huge premium hike. Older, more experienced drivers are viewed as being more responsible, are lower risk to insure, and get fewer tickets.
Increase deductibles and save – Physical damage protection, otherwise known as comp (or other than collision) and collision, covers damage that occurs to your Jeep. Some coverage claims would be a broken side mirror, damage caused by hail, and windstorm damage. Comprehensive and collision coverage deductibles define how much you are required to pay before your auto insurance pays a claim. The more expense the insured is willing to pay, the less your company will charge you for insurance.
Companies want multiple policies – Most larger companies give discounts to policyholders that buy multiple policies in the form of a multi-policy discount. Even if you qualify for this discount already, it’s still a good idea to shop around to make sure you are getting the best deal.
Jeep Cherokee claim data – Companies analyze past claim statistics when determining insurance costs. Vehicles that are shown to have higher frequency or amount of claims will have increased rates. The data below shows the insurance loss data used by companies for Jeep Cherokee vehicles.
For each policy coverage, the claim amount for all vehicles, as an average, is set at 100. Values that are 100 or less imply a favorable loss record, while percentage values above 100 indicate a higher chance of having a claim or an increased likelihood of larger losses.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Jeep Cherokee 4dr 2WD||76||105||77||87||90||109|
|Jeep Cherokee 4dr 4WD||78||115||82||75||79||103|
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Why you need to buy auto insurance
Even though it can be expensive, paying for auto insurance is mandatory in Indiana but it also protects more than you think.
- The majority of states have compulsory liability insurance requirements which means the state requires specific limits of liability in order to drive the car. In Indiana these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a lien on your Jeep, more than likely the lender will force you to have full coverage to ensure they get paid if you total the vehicle. If you do not keep the policy in force, the bank may insure your Jeep at a much higher premium rate and make you pay the higher premium.
- Auto insurance protects both your vehicle and your assets. It will also pay for all forms of medical expenses that are the result of an accident. Liability coverage, the one required by state law, also covers legal expenses if you cause an accident and are sued. If your car is damaged in a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage.
The benefits of buying enough insurance definitely exceed the price paid, especially when you need to use it. According to a survey of 1,000 drivers, the average driver is wasting up to $800 each year so you should quote and compare rates every year to save money.
Be persistent to save money
Cheaper Jeep Cherokee insurance in Indianapolis is available both online in addition to many Indianapolis insurance agents, and you should compare rates from both in order to have the best price selection to choose from. There are still a few companies who may not provide the ability to get a quote online and many times these regional insurance providers sell through local independent agents.
When buying insurance coverage, it’s a bad idea to buy poor coverage just to save money. In many instances, someone sacrificed full coverage only to regret that the small savings ended up costing them much more. The goal is to buy a smart amount of coverage at the best cost, but do not sacrifice coverage to save money.
To learn more, feel free to browse the resources below:
- Alcohol Impaired Driving FAQ (iihs.org)
- Who Has the Cheapest Indianapolis Car Insurance for Seniors? (FAQ)
- How Much are Auto Insurance Rates for a Mazda CX-7 in Indianapolis? (FAQ)
- Teen Driving Statistics (GEICO)
- Help Your Teen Be a Better Driver (State Farm)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
- Front crash protection reduces rear-end crashes (Insurance Institute for Highway Safety)