Cheap 2002 Volkswagen GTI Insurance Cost

Looking for cheaper auto insurance rates for your Volkswagen GTI? There isn’t anyone who is fond of buying auto insurance, particularly when they could get a better deal. People have multiple insurers to purchase coverage from, and even though it’s nice to have multiple companies, too many choices makes it more difficult to find the lowest cost provider.

Consumers need to compare rates at least once a year because insurance prices are constantly changing. Just because you had the best quotes for GTI coverage last year other companies may now be cheaper. Ignore everything you know about auto insurance because you’re about to find out the tricks you need to know to properly buy coverages while reducing your premium.

How to buy insurance coverage online

Getting cheap 2002 Volkswagen GTI insurance coverage pricing is not rocket science. Drivers just need to invest a little time to compare free insurance quotes to find. This is very easy and can be done using one of these methods.

Experts agree that the best way to get quotes is an all-inclusive rate comparison like this one (opens in new window). This type of form keeps you from doing boring form submissions for every insurance coverage company. Taking the time to complete one form gets prices estimates from multiple low-cost companies.

A harder way to find more affordable insurance requires visiting each individual company website and complete a new quote form. For example, we’ll pretend you want comparison quotes from GEICO, Esurance and Progressive. In order to compare rates, you need to go to every website and repeatedly type in your coverage information, which can be really labor intensive.

For a list of links to companies insuring cars in your area, click here.

It’s up to you which method you use, but double check that you are using exactly the same coverage limits for each comparison quote. If your comparisons have different coverage information you will not be able to determine which rate is truly the best.

The insurance coverage bait and switch

Drivers get pounded daily by advertisements for insurance coverage savings from the likes of Progressive, GEICO, Allstate and State Farm. They all seem to tend to make the same promise about how much you will save after switching your coverage.

How do they all lower your rates? It’s all in the wording.

Different companies have specific criteria for the right customer that will be a good risk. One example of a desirable insured may need to be over age 30, has no prior claims, and does not commute to work. A customer who meets those qualifications may get the lowest premium rates and will save quite a bit of money when switching.

Consumers who are not a match for those standards may be forced to pay higher premiums which usually ends up with business not being written. If you listen to the ad wording, they say “customers who switch” not “all people who quote” can save as much as they claim. That is how companies can truthfully make those claims. This emphasizes why you absolutely need to do a rate comparison at every renewal. It’s just not possible to know which company will have the lowest rate quotes.

How insurers determine Volkswagen GTI insurance premiums

Smart consumers have a good feel for some of the factors that play a part in calculating the rates you pay for insurance. If you understand what impacts premium levels, this helps enable you to make changes that may result in lower insurance prices.

The itemized list below are some of the most rate-impacting factors used by companies to determine your rates.

  • Discounts for GPS tracking and theft deterrents – Buying a car with a theft deterrent system can help bring down rates. Systems that thwart theives such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all help prevent auto theft.
  • Pleasure use or commuting – The higher the mileage driven every year the more you’ll pay to insure your vehicle. A lot of companies charge rates based upon how much you drive. Autos that have low annual miles can get a lower rate than vehicles that have high annual mileage. A policy that improperly rates your GTI may be wasting your money. It’s a smart idea to ensure your insurance coverage correctly shows the correct usage.
  • Pay more out-of-pocket – Physical damage deductibles are the amount of money you are willing to pay if you file a covered claim. Insurance for physical damage to your car, also called ‘full coverage’, covers damage that occurs to your car. Some examples of claims that would be covered are a windshield broken by a bird, hail damage, or theft of your vehicle. The larger the amount the insured has to pay upfront, the lower your rates will be for GTI coverage.
  • High credit score translates to low costs – Having a bad credit history will be a significant factor in determining what you pay for insurance. If your credit rating is not that good, you could pay less to insure your 2002 Volkswagen GTI by taking the time to improve your credit score. Drivers who have good credit tend to be less risk to insure than drivers with bad credit.
  • Too many claims will drive premiums up – Car insurance companies generally give discounts to policyholders that do not abuse their auto insurance. If you frequently file small claims, you can definitely plan on either higher rates or even cancellation. Insurance coverage is designed for major claims that would cause financial hardship.
  • Your career may increase prices – Did you know your job can affect your rates? Careers like fire fighters, executives and stock brokers generally have the highest rates in part from intense work requirements and lots of time spent away from family. On the other hand, careers like scientists, athletes and homemakers pay lower than average rates for GTI coverage.
  • Prices can change based on your address – Choosing to live in a small town is a good thing when buying insurance. Residents of big cities have to deal with more aggressive driving styles and a longer drive to work. Fewer drivers and short commutes means reduced accidents as well as less vandalism and auto theft.
  • How’s your driving record? – Careful drivers pay lower auto insurance prices compared to drivers with tickets. Having a single speeding ticket may cause rates to rise substantially. Drivers with serious violations such as DUI, reckless driving or excessive speeding may be required to file a SR-22 with their state in order to prevent a license revocation.

Cheap insurance rates with discounts

Companies don’t always list all disounts in a way that’s easy to find, so we researched a few of the more well known and also the more inconspicuous credits available to you. If you aren’t receiving every discount you deserve, you’re paying more than you need to.

  • Multiple Policy Discount – When you have multiple policies and place coverage with the same company you may save over 10 percent off each policy depending on the company.
  • Homeowners Discount – Owning a house may trigger a policy discount on insurance because of the fact that having a home means you have a higher level of financial diligence.
  • Discount for Good Grades – Maintaining excellent grades may save you up to 25%. Many companies even apply the discount to college students up to age 25.
  • ABS Braking Discount – Cars with ABS braking systems or traction control prevent accidents and earn discounts up to 10%.
  • Discounts for Government Workers – Active or retired federal employment may qualify for a discount when you quote insurance for GTI coverage with select insurance companies.
  • Discount for Life Insurance – Select insurance carriers reward you with a lower rate if you buy some life insurance in addition to your auto policy.
  • Driver’s Education for Students – Make teen driver coverage more affordable by requiring them to complete a driver education course if offered at their school.
  • Save over 55 – If you’re over the age of 55, you can possibly qualify for a small discount on rates for GTI coverage.
  • Seat Belts Save more than Lives – Forcing all vehicle occupants to use a seat belt may be able to save a few bucks off the PIP or medical payment premium.

As a sidenote, some of the credits will not apply to your bottom line cost. Most only apply to individual premiums such as medical payments or collision. So even though you would think you would end up receiving a 100% discount, it just doesn’t work that way.

Larger insurance companies and some of the discounts are included below.

  • Farm Bureau has discounts for safe driver, multi-vehicle, good student, 55 and retired, and driver training.
  • State Farm discounts include driver’s education, multiple policy, good driver, Steer Clear safe driver discount, and Drive Safe & Save.
  • Progressive has savings for continuous coverage, online quote discount, online signing, good student, multi-policy, homeowner, and multi-vehicle.
  • Allstate offers discounts including senior citizen, passive restraint, EZ pay plan discount, FullPay discount, anti-theft, and eSmart discount.
  • Nationwide may include discounts for business or organization, good student, accident-free, defensive driving, multi-policy, Farm Bureau membership, and anti-theft.
  • MetLife may offer discounts for claim-free, good student, good driver, multi-policy, accident-free, defensive driver

When getting a coverage quote, ask every prospective company which discounts you qualify for. Some of the discounts discussed earlier may not apply in your area. To view insurance companies who offer discounts, click this link.

Tailor your car insurance coverage to you

When choosing coverage for your personal vehicles, there isn’t really a one size fits all plan. Every situation is different so your insurance needs to address that. For example, these questions can help discover if your insurance needs would benefit from an agent’s advice.

  • Do I really need UM/UIM coverage?
  • Does insurance cover damages from a DUI accident?
  • Do I have coverage when making deliveries for my home business?
  • Do I need an umbrella policy?
  • Do I need to file an SR-22 for a DUI in my state?
  • Does my policy cover me when driving someone else’s vehicle?
  • What exactly is covered by my policy?

If you’re not sure about those questions but one or more may apply to you then you might want to talk to a licensed agent. To find an agent in your area, simply complete this short form or you can also visit this page to select a carrier It’s fast, doesn’t cost anything and can provide invaluable advice.

Insurance coverages 101

Having a good grasp of insurance can be of help when determining appropriate coverage at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and reading a policy is terribly boring. Shown next are the normal coverages found on the average insurance policy.

Medical expense coverage

Medical payments and Personal Injury Protection insurance pay for expenses for things like chiropractic care, funeral costs, rehabilitation expenses, doctor visits and surgery. They can be used to fill the gap from your health insurance program or if you do not have health coverage. Medical payments and PIP cover you and your occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state but can be used in place of medical payments coverage

Comprehensive protection

This pays for damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things like damage from getting keyed, damage from a tornado or hurricane and hitting a deer. The highest amount you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.

Liability insurance

Liability insurance protects you from damage that occurs to a person or their property by causing an accident. This insurance protects YOU from legal claims by others. It does not cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You might see values of 25/50/25 which means a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and $25,000 of coverage for damaged propery.

Liability can pay for claims like repair bills for other people’s vehicles, pain and suffering, repair costs for stationary objects, bail bonds and medical expenses. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as much as you can afford.

Uninsured or underinsured coverage

Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they do not carry enough liability coverage. This coverage pays for injuries to you and your family and damage to your Volkswagen GTI.

Since a lot of drivers have only the minimum liability required by law, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Coverage for collisions

This coverage covers damage to your GTI resulting from colliding with another car or object. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage protects against claims like rolling your car, sustaining damage from a pot hole, backing into a parked car and driving through your garage door. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to choose a higher deductible to save money on collision insurance.

Online plus local equals savings

As you shop your coverage around, it’s not a good idea to reduce coverage to reduce premium. There are too many instances where drivers have reduced liability coverage limits only to regret they didn’t purchase enough coverage. Your strategy should be to get the best coverage possible at the best price while still protecting your assets.

Budget-conscious 2002 Volkswagen GTI insurance is available from both online companies in addition to many insurance agents, and you should be comparing both to have the best chance of lowering rates. A few companies may not offer online price quotes and these small insurance companies provide coverage only through local independent agents.

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