Are you drained from robbing Peter to pay Paul to pay auto insurance each month? You have the same problem as millions of other drivers.
Unimaginable but true, nearly 70% of Texas drivers have remained with the same auto insurance company for at least the last four years, and approximately 40% of consumers have never compared rates to find cheaper insurance. The average driver in America could save $859 each year by just comparing rate quotes, but they don’t understand how simple it is to save money by comparing rate quotes.
Online insurance companies like State Farm and GEICO constantly bombard you with ad campaigns and it is challenging if not impossible to ignore the flashy ads and take the time to shop coverage around.
It’s a good habit to do price comparisons quite often since prices are variable and change quite frequently. Just because you had the best rates on Volkswagen Touareg insurance in Fort Worth two years ago the chances are good that you can find a lower rate quote today. Block out anything you think you know about auto insurance because you’re about to find out the only way to find better coverage on Volkswagen Touareg insurance in Fort Worth at a better price.
Facts and figures for Volkswagen Touareg insurance
The coverage table shown next covers estimates of insurance rates for Volkswagen Touareg models. Having a better idea how auto insurance policy rates are formulated can help you make decisions on which insurance to purchase.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Touareg 3 Turbo Diesel AWD 4-Dr | $208 | $390 | $392 | $24 | $118 | $1,132 | $94 |
| Touareg 3.6 AWD 4-Dr | $208 | $390 | $392 | $24 | $118 | $1,132 | $94 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-vehicle, and multi-policy. Premium costs do not factor in specific location which can raise or lower prices significantly.
The diagram below illustrates how your deductible choice and can affect Volkswagen Touareg insurance costs for different age categories. The information is based on a married female driver, comp and collision included, and no discounts are taken into consideration.
Difference between full coverage and liability only rates
The illustration below illustrates the comparison of Volkswagen Touareg car insurance rates when comparing full coverage to liability only. The premium estimates are based on no driving violations, no at-fault accidents, $250 deductibles, single status, and no other discounts are factored in.
Guidelines for eliminating full coverage
There is no set guideline that is best for determining when to drop comp and collision coverage, but there is a general convention. If the yearly cost for physical damage coverage is 10% or more of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let’s say your Volkswagen Touareg claim settlement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $3,000 after paying the physical damage deductible. If premium cost is more than $300 a year for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are some situations where dropping full coverage is not recommended. If you still have a lienholder on your title, you must maintain physical damage coverage in order to prevent your loan from defaulting. 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.
Auto insurance coverages
Learning about specific coverages of your policy can help you determine which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be confusing and coverage can change by endorsement. Below you’ll find the usual coverages found on most car insurance policies.
Comprehensive coverages – This coverage will pay to fix damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive coverage protects against things such as hitting a deer, damage from getting keyed, damage from flooding, falling objects and fire damage. The maximum amount a car insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.
Liability auto insurance – This will cover damage that occurs to a person or their property. This coverage protects you from claims by other people, and doesn’t cover damage sustained by your vehicle in an accident.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 30/60/25 which means $30,000 bodily injury coverage, a per accident bodily injury limit of $60,000, and a total limit of $25,000 for damage to vehicles and property. Another option is a combined single limit or CSL which combines the three limits into one amount without having the split limit caps.
Liability coverage pays for claims like structural damage, pain and suffering, medical expenses, attorney fees and repair bills for other people’s vehicles. How much liability should you purchase? That is your choice, but consider buying as high a limit as you can afford. Texas requires drivers to carry at least 30/60/25 but it’s recommended drivers buy better liability coverage.
The illustration below demonstrates why minimum state limits may not be high enough to adequately cover claims.
Collision coverage – This coverage pays for damage to your Touareg caused by collision with an object or car. You will need to pay your deductible and then insurance will cover the remainder.
Collision insurance covers things such as hitting a mailbox, colliding with a tree and driving through your garage door. This coverage can be expensive, so consider dropping it from lower value vehicles. You can also raise the deductible on your Touareg to get cheaper collision coverage.
Uninsured and underinsured coverage – Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. This coverage pays for injuries to you and your family and damage to your Volkswagen Touareg.
Due to the fact that many Texas drivers only carry the minimum required liability limits (30/60/25 in Texas), it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage should not be overlooked. Normally these limits do not exceed the liability coverage limits.
Coverage for medical payments – Coverage for medical payments and/or PIP provide coverage for bills such as ambulance fees, doctor visits, rehabilitation expenses and hospital visits. They are used in conjunction with a health insurance program or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants and also covers if you are hit as a while walking down the street. PIP coverage is not available in all states but can be used in place of medical payments coverage
Keep this in mind when shopping around
Some companies do not offer rate quotes online and most of the time these small insurance companies only sell coverage through local independent agents. Cheaper Volkswagen Touareg insurance in Fort Worth can be sourced on the web and from local agencies, and you should be comparing both in order to have the best chance of saving money.
As you quote Fort Worth auto insurance, it’s a bad idea to skimp on critical coverages to save a buck or two. In many cases, consumers will sacrifice full coverage and discovered at claim time they didn’t purchase enough coverage. The goal is to get the best coverage possible for the lowest cost, but do not sacrifice coverage to save money.
Steps to finding cheaper rates for Volkswagen Touareg insurance in Fort Worth
If your goal is the lowest price, then the best way to get low-cost auto insurance rates in Fort Worth is to compare prices at least once a year from providers in Texas. You can compare prices by following these guidelines.
- First, spend a few minutes and learn about what is in your policy and the things you can control to drop your rates. Many factors that drive up the price like traffic violations, accidents, and a low credit score can be improved by being financially responsible and driving safely.
- Second, compare rates from direct, independent, and exclusive agents. Direct and exclusive agents can only give rate quotes from one company like Progressive or Farmers Insurance, while agents who are independent can provide price quotes from multiple sources.
- Third, compare the price quotes to the price on your current policy to see if a cheaper price is available in Fort Worth. If you find better rates and decide to switch, make sure there is no coverage gap between policies.
- Fourth, tell your current company to cancel your current auto insurance policy. Submit the application along with any required down payment for the new coverage. Once the application is submitted, put the new certificate verifying coverage in your vehicle.
One thing to point out is that you’ll want to compare the same physical damage deductibles and liability limits on each price quote and and to get quotes from as many carriers as you can. This provides the most accurate price comparison and a thorough selection of prices.
For more information, feel free to visit the articles below:
- How Much Auto Coverage do I Need? (Insurance Information Institute)
- Who Has Affordable Fort Worth Auto Insurance for Low Credit Scores? (FAQ)
- Who Has Affordable Auto Insurance for a Dodge Ram in Fort Worth? (FAQ)
- Who Has the Cheapest Auto Insurance for a Toyota Tacoma in Fort Worth? (FAQ)
- Who Has Affordable Fort Worth Auto Insurance for Drivers with Bad Credit? (FAQ)
- New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)
- Teen Driving and Texting (State Farm)
- Five Tips to Save on Auto Insurance (Insurance Information Institute)