We don’t have to tell you that auto insurance companies want to keep you from comparing rates. Insureds who compare rates annually are very likely to switch companies because there are good odds of finding good coverage at a lower price. A recent car insurance study revealed that drivers who made a habit of comparing rate quotes saved approximately $865 a year compared to those who didn’t regularly shop around.
If finding budget-friendly rates on Jeep Compass insurance in Toledo is your ultimate goal, then having an understanding of how to quote prices and compare insurance coverage can make it easier to shop your coverage around.
To save the most money, the best way to get discount Jeep Compass insurance is to do a yearly price comparison from insurers that sell auto insurance in Toledo.
- Take a few minutes and learn about auto insurance and the steps you can take to lower rates. Many factors that result in higher rates like tickets, at-fault accidents, and a low credit rating can be amended by making small lifestyle or driving habit changes. This article provides more details to prevent high rates and earn larger discounts.
- Compare prices from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give rate quotes from a single company like GEICO or Farmers Insurance, while independent agents can provide rate quotes from multiple companies. Begin your rate comparison
- Compare the price quotes to the price on your current policy and see if there is a cheaper rate in Toledo. If you find better rates and buy the policy, verify that coverage does not lapse between policies.
An important bit of advice to remember is to make sure you’re comparing similar deductibles and liability limits on each quote and to quote with as many car insurance companies as possible. Doing this provides a fair rate comparison and a better comparison of the market.
If you’re already insured or are looking for a new policy, you can learn to lower your rates while maximizing coverage. Quoting the best auto insurance policy in Toledo is not as time-consuming as you think. Drivers just need to understand the best way to compare company rates from many companies at once.
The quickest method to compare rate quotes for Jeep Compass insurance in Toledo is to know the fact most larger insurance companies pay for the opportunity to quote your coverage. To start a quote, the only thing you need to do is give the companies some data such as your general credit rating, your education level, deductibles desired, and if it has an anti-theft system. Your details is instantly submitted to many of the top insurers and they respond with quotes quickly.
If you would like to compare rates now, click here and see if a lower rate is available in Toledo.
The companies shown below are our best choices to provide price comparisons in Toledo, OH. If multiple companies are listed, it’s a good idea that you visit two to three different companies to get a more complete price comparison.
Rates and detailed analysis
The price information shown next highlights estimates of policy rates for Jeep Compass models. Having a good grasp of how insurance prices are established can be useful when making decisions on the best policy coverages.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Compass Sport 2WD | $164 | $328 | $296 | $18 | $88 | $894 | $75 |
| Compass Sport 4WD | $188 | $398 | $296 | $18 | $88 | $988 | $82 |
| Compass Limited 2WD | $188 | $398 | $296 | $18 | $88 | $988 | $82 |
| Compass Limited 4WD | $188 | $398 | $296 | $18 | $88 | $988 | $82 |
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Above prices assume single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Prices do not factor in specific location information which can decrease or increase coverage rates significantly.
Poor driving habits will raise your car insurance rates
The illustration below illustrates how speeding tickets and at-fault claims increase Jeep Compass insurance prices for each different age group. The price estimates are based on a single female driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied to the premium.
Full coverage or liability only
The chart below illustrates the difference between Jeep Compass insurance prices with full physical damage coverage compared to only buying the minimum liability limits required in Ohio. The premium estimates are based on no violations or accidents, $1,000 deductibles, single status, and no policy discounts are applied.
Deciding between full coverage and liability only
There is no exact rule of when to stop paying for full coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.
For example, let’s say your Jeep Compass claim settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is severely damaged, you would only receive $4,000 after paying your deductible. If it’s costing in excess of $400 a year to have full coverage, then it may be the right time to buy liability only.
There are a few situations where dropping full coverage is not in your best interest. If you still have a lienholder on your title, you have to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not remove full coverage.
Smart Buyers Save Every Year
Lots of factors are considered when quoting car insurance. Some are obvious like a motor vehicle report, but others are not as apparent such as whether you are married or how safe your car is.
Teenagers vs. older drivers – Drivers with little experience have a tendency to be careless and easily distracted with other occupants in the car therefore insurance rates are much higher. Older drivers tend to be more responsible, cause fewer claims and accidents, and are generally more financially stable.
The following data uses these variables: single driver, full coverage with $1000 deductibles, and no discounts or violations.
Cars with good safety ratings cost less to insure – Vehicles with high crash test scores tend to be cheaper to insure. Vehicles engineered for safety reduce the chance of injuries and better occupant protection means lower claim amounts passed on to you as lower rates.
Your location is a factor – Living in less populated areas of the country has definite advantages when it comes to insurance. Fewer drivers means reduced accidents in addition to lower liability claims. Urban drivers have to deal with congested traffic and higher rates of accident claims. The longer drive time can result in more accidents.
Save money by having good credit – A driver’s credit rating factor in calculating your premium rate. Therefore, if your credit can use some improvement, you could be paying less to insure your Jeep Compass if you improve your credit rating. Insureds with high credit scores tend to be better drivers and file fewer claims than those with bad credit.
Prices also based on gender – The statistics show that females take fewer risks when driving. However, this does not mean females are better at driving than males. Females and males are responsible for fender benders at about the same rate, but men cause more damage. Men also statistically get ticketed for serious violations like driving under the influence (DUI). Males from age 16 to 21 cause the most accidents and therefore pay the highest rates.
The diagram below illustrates the comparison of Jeep Compass car insurance costs for male and female drivers. The information is based on no claims or violations, full coverage, $250 deductibles, single status, and no discounts are applied.
Jeep Compass insurance loss data – Insurance companies use data from past claims when they set coverage costs for each model. Models that tend to have high amounts or severity of claims will cost more for specific coverages.
The table below illustrates the insurance loss data used by companies for Jeep Compass vehicles. For each coverage category, the claim amount for all vehicles, regardless of make or model, is considered to be 100. Values that are under 100 suggest a positive loss record, while numbers shown that are more than 100 indicate more frequent losses or an increased chance of larger losses than average.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Jeep Compass 4dr 2WD | 87 | 135 | 58 | 128 | 124 | 142 |
| Jeep Compass 4dr 4WD | 76 | 114 | 63 | 99 | 107 | 106 |
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Auto insurance does more than just repair your car
Despite the fact that auto insurance is not cheap in Toledo, auto insurance serves a purpose in several ways.
- Almost all states have minimum mandated liability insurance limits which means it is punishable by state law to not carry a specific minimum amount of liability coverage in order to license the vehicle. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a loan on your Jeep Compass, more than likely the lender will make it mandatory that you have full coverage to guarantee payment of the loan. If the policy lapses, the lender may have to buy a policy to insure your Jeep at a more expensive rate and force you to pay for the much more expensive policy.
- Auto insurance protects both your assets and your vehicle. It will also provide coverage for medical bills incurred in an accident. Liability insurance will also pay to defend you if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, your policy will pay to repair the damage.
The benefits of insuring your Compass definitely exceed the cost, particularly if you ever have a claim. Unknowingly, the average driver overpays as much as $830 a year so it’s recommended you shop around once a year at a minimum to ensure rates are competitive.