How to Save Money on Insurance for your Jaguar XJR
If buying auto insurance was as easy as it sounds on TV commercials, we'd have no problem getting the lowest rates. But it's actually not a real enjoyable process for the majority of people and we always seem to end up paying too much. Insuring your Jaguar XJR is probably no exception.
Step One: Compare Multiple Rate Quotes
The old way of buying car insurance was to make multiple trips to various local agents and get strong armed into a policy that didn't necessarily fit you. But now you can eliminate that hassle and buy online!
Almost every car insurance company now offers online quotes, and you can actually get insurance quotes for a Jaguar XJR without even visiting their websites!
To begin, click on the link below and complete the short form. It only takes a few minutes and it's helpful to have your current policy handy if you have one.
Important! If you already have liability and physical damage coverage on your XJR, it's important to keep the same limits and deductibles throughout the quote process. This allows you to fairly compare rates for many companies. If you use different limits and coverages for each quote, you won't be able to judge if the final rate is better or worse than other quotes.
Step Two: Best Ways to Lower your XJR Insurance Cost
If you have completed step one above (if not, please complete that step first), then you are now ready to learn some ways to insure your XJR that will also lower the rate you pay irregardless of which company you choose.
- The Jaguar XJR is a high performance vehicle. Insurance rates are higher on cars that offer larger engines, more horsepower or increased risk of accident or rollover.
- Being a senior citizen can qualify you for a small discount on your insurance rates. Older drivers are generally more cautious so they get a lower rate.
- XJR replacement parts are more expensive due to the quality of the parts, so you can expect your physical damage rates to be higher to reflect the higher cost of repair.
- How is your credit rating? The better credit you have, the less insurance will cost for your XJR. If you have bad credit, work on improving your credit score and repair past credit problems.
- If your city or county offers a driver's safety course, find out if your insurance company will give you a discount to complete it. It could save you up to 10%.
- If your vehicle comes with safety features such as electronic stability control, head restraints, all-wheel drive or air bags, these all help keep insurance costs down by helping reduce accident injuries.
- Consider using higher deductibles for physical damage coverages like comprehensive and collision. Higher deductibles save money since you're willing to pay more out-of-pocket at claim time.
- Vehicles that tend to get stolen or have high repair costs will cost you more to insure. If your XJR falls into either category, it could cost you.
- Try to maintain a claim-free discount on your car insurance policy. Obviously you can't prevent large claims, but if they are smaller and you can afford to pay them out-of-pocket, do so.
- If you are a renter rather than a homeowner, you might pay a little more to insure your car. Owning a home takes financial repsonsibility and insurance companies reward those policy holders.
- If you have a speeding ticket or other moving violation, you could be charged more for insurance. If you get a ticket, find out if your county or state offers a defensive driving course that will void the ticket upon completion.
- Every parent dreads the day when their teenager gets added to their policy. If you are a teenager, or if you have one on your policy, expect to pay significantly more each year.
- Do not allow your current car insurance coverage to lapse or expire. Insurance companies have a simple way to find out when your last policy ended (called a CLUE report), and if you went without coverage for any length of time you may pay more for coverage.
Step Three: Choose a Company and Bind Coverage
Purchasing an insurance policy is more than just clicking a button. You need to have funds available to make payment and you need to be sure that the coverages are adequate for your personal situation.
The key thing to keep in mind when buying a new policy is you do not want your old policy to lapse. Make sure the effective date of the new policy is on or before the expiration date of your current policy.
Any time you buy a new vehicle, make sure you have car insurance in place, either from an existing policy or a new policy that you purchase from the dealership floor. Your existing car insurance policy will give you some coverage if you buy a new or used XJR, but unless you are already paying for full coverage, you won't have it until you add the vehicle to your policy.
Your insurance company will provide you with proof-of-insurance forms to keep in your vehicle. It's required by state law to carry at least the state minimum liability limits. Depending on your state's statutes, you may be required to file an SR-22 form if you've been convicted of an uninsured accident, DUI or license suspension. Make sure your new company is aware of this requirement and files it promptly.
More Educational Resources
For more information on car insurance, please visit the Insurance Information Institute's auto insurance informational page.
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