So, the question is, how do you determine just the right amount of insurance to purchase to protect your precious Cadillac? For starters, you should think about the value of your car. Do you have an early model Cadillac worth, say, $20,000? Or do you have a brand new, fully loaded Cadillac Escalade worth $84,905? The next step is to figure out the type of coverage you need. In addition to purchasing the standard coverages, should purchase collision and comprehensive coverage as well as uninsured/underinsured motorist coverage to make sure all bases are covered.
Collision covers losses to your car in the event of a collision with another car as well as losses resulting from contact with people, objects or even rough surfaces on the road. Comprehensive covers everything outside of collisions.
Comprehensive covers theft, vandalism, fire, damages from weather, riots, and any other circumstances that may cause damage to the car.
Uninsured/underinsured motorist coverage is an absolute must for several reasons. Most people carry the minimum amounts of auto insurance required by law. This means, even if the other driver is found to be at fault, his insurance company will only fork over the minimum amount of coverage the driver carries. This amount could be equal to $5,000, which wont come close to covering damages to your Cadillac. In these cases, uninsured/underinsured motorists coverage will pick up where the other drivers insurance left off.
Once you have the value of your car in hand and the types of coverages you are interested in, contact an insurance agent. Try to stick with established auto insurance providers. They will have a wide variety of packages available to fit your needs. Please keep in mind that auto insurance rates are based on more than the year, make, model, and cost of your car. Auto insurance companies also consider your age, gender, geography, marital status, credit rating, and occupation.
Tip: Dont skimp on Cadillac car insurance. Instead, check with your agent to see if you qualify for one or more discounts. You may qualify for discounts ranging from 5%-15% or more for installing additional safety features, successful completion of a safe driver course, and for maintaining a perfect driving record for 5 years in a row.
Michelle Burton is a published author and contributing editor for Auto Insurance Tips, Trouvé Media, Internet Brands, and Publications International, Ltd.