A recent NerdWallet.com study revealed that most consumers kept their policy with the same company for over three years, and 38% of customers have never even compared quotes to find affordable rates. With the average car insurance premium being $1,700, Oregon drivers could save nearly 60% a year just by getting comparison quotes, but they just feel it’s too hard to shop their coverage around.
The most effective way to find affordable quotes for Audi A8 insurance is to start doing an annual price comparison from insurers who provide car insurance in Portland. You can compare prices by completing these steps.
Step 1: Get a basic knowledge of how insurance companies determine prices and the measures you can control to prevent rate increases. Many risk factors that cause high rates like traffic tickets, fender benders, and a low credit score can be controlled by making minor changes in your lifestyle.
Step 2: Request rate estimates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from a single company like GEICO and State Farm, while independent agents can quote rates from many different companies.
Step 3: Compare the quotes to your existing policy to see if a cheaper rate is available in Portland. If you find a better price and make a switch, make sure there is no coverage gap between policies.
The most important part of this process is that you’ll want to make sure you compare the same level of coverage on each quote request and and to get quotes from every company you can. This enables an apples-to-apples comparison and many rates to choose from.
The premium information shown next outlines detailed analysis of coverage prices for Audi A8 models. Being aware of how prices are determined can help guide drivers when making decisions on the best policy to buy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|A8 4.2 Quattro 4-Dr Sedan||$222||$506||$416||$24||$124||$1,292||$108|
|A8 4.2L Quattro 4-Dr Sedan||$240||$560||$416||$24||$124||$1,364||$114|
|Get Your Own Custom Quote Go|
Above prices assume single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Oregon minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Prices do not factor in specific garaging location which can affect price quotes substantially.
The diagram below illustrates how your deductible choice and can change Audi A8 annual premium costs for each age group. The premiums are based on a single male driver, full coverage, and no additional discounts are factored in.
Bad driving habits will cost you more
The example below illustrates how speeding tickets and accidents can raise Audi A8 insurance costs for each age group. The rate quotes are based on a single male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are taken into consideration.
Full coverage versus liability only rates
The diagram below illustrates the difference between Audi A8 yearly insurance costs with liability coverage only compared to full coverage. The premiums assume no claims, a clean driving record, $500 deductibles, single status, and no discounts are applied.
Should you pay for full coverage?
There is no definitive formula of when to exclude full coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you may need to consider dropping full coverage.
For example, let’s say your Audi A8 replacement cost is $9,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would receive is $8,000 after the deductible is paid. If you are currently paying more than $800 annually for physical damage coverage, then you might want to think about dropping full coverage.
There are some conditions where buying only liability insurance is not recommended. If you have an outstanding loan on your vehicle, you have to keep full coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle in case of an accident, you should not drop full coverage.
Portland Insurance Costs are Influenced by These Factors
Smart consumers have a good feel for some of the factors that aid in calculating car insurance rates. If you have some idea of what impacts premium levels, this allows you to make educated decisions that will entitle you to lower rates.
Frequent policy claims increase rates – If you are a frequent claim filer, you can expect higher premiums or even policy non-renewal. Companies in Oregon provide discounts to people who do not rely on their insurance for small claims. Auto insurance is intended to be relied upon for claims that pose a financial burden.
Cheaper rates with safer cars – Cars with five star safety ratings cost less to insure. The safest vehicles have better occupant injury protection and lower injury rates translates into fewer and smaller insurance claims and lower rates for you.
Teenagers are high risk – Mature drivers are more responsible, are lower risk to insure, and are generally more financially stable. Teen drivers are statistically proven to be less responsible when behind the wheel and because of this, their car insurance rates are much higher.
The data below uses these variables: single driver, full coverage with $500 deductibles, and no discounts or violations.
More traffic equals higher prices – Choosing to live in smaller towns and rural areas of the country has it’s advantages when buying car insurance. Fewer people translates into fewer accident claims in addition to lower liability claims. People in densely populated areas have more auto accidents and more severe claims. Higher commute times means more chance of being in an accident.
Extra coverages you don’t use – There are a lot of optional add-on coverages you can purchase but may not be useful. Coverages for replacement cost coverage, accident forgiveness, and Farm Bureau memberships are some examples. They may seem good at first, but if they’re wasting money think about removing them and cutting costs.
High credit scores save money – Your credit score is likely to be a major factor in determining your rates. Consumers who have very high credit ratings tend to be more responsible and file fewer claims than drivers with lower ratings. Therefore, if your credit rating can be improved, you could pay less to insure your Audi A8 if you improve your credit rating.
Defend yourself with liability – Liability insurance is the coverage that protects you when a jury decides you are liable for damages from an accident. It will provide you with a defense in court starting from day one. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so buy as much as you can afford.
Save money with alarms and GPS tracking – Buying a car with a theft deterrent system can help bring down rates. Theft prevention devices such as OnStar, LoJack tracking, and tamper alarms can help prevent vehicle theft.
Audi A8 claim data – Companies use past insurance losses when determining insurance rates. Models that the data determines to have higher loss trends will cost more for specific coverages. The next table shows the insurance loss data used by companies for Audi A8 vehicles.
For each insurance policy coverage type, the loss probability for all vehicles, as an average, is represented as 100. Values that are below 100 suggest losses that are better than average, while values that are above 100 point to more losses or a tendency for claims to be larger.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Audi A8 4dr 4WD||289||108||261|
|Audi A8L 4dr 4WD||300||88||279||62|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
One last note
As you restructure your insurance plan, you should never reduce coverage to reduce premium. Too many times, someone dropped liability coverage limits only to discover later that saving that couple of dollars actually costed them tens of thousands. The ultimate goal is to purchase a proper amount of coverage at the lowest possible cost.
Low-cost Audi A8 insurance in Portland is possible on the web in addition to many Portland insurance agents, so get free Portland car insurance quotes from both of them in order to have the best price selection to choose from. A few companies do not provide the ability to get quotes online and many times these regional carriers prefer to sell through independent insurance agents.
We just presented a lot of techniques to find cheaper Audi A8 insurance in Portland. The key thing to remember is the more times you quote, the better chance you’ll have of finding affordable Portland car insurance quotes. You may even be surprised to find that the lowest priced auto insurance comes from a small local company. Regional companies often have lower car insurance rates on specific markets compared to the large companies like Allstate or State Farm.
For more information, take a look at the resources below:
- Child Safety Seats (Insurance Information Institute)
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Institute)
- Collision Insurance Coverage (Nationwide)
- Uninsured Motorist Statistics (Insurance Information Institute)
- Young Drivers: The High Risk Years Video (iihs.org)