Really, the only way to get the cheapest car insurance rates is to regularly compare price quotes from companies in Fort Worth. You can compare rates by completing these steps.
- First, try to understand auto insurance and the factors you can control to prevent expensive coverage. Many rating criteria that result in higher rates like inattentive driving and an imperfect credit rating can be improved by paying attention to minor details. Keep reading for the details to find cheap prices and find additional discounts.
- Second, obtain price quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only quote rates from a single company like GEICO and Allstate, while agents who are independent can give you price quotes for a wide range of companies.
- Third, compare the new rate quotes to your current policy and determine if there is any savings. If you can save money and switch companies, make sure there is no lapse between the expiration of your current policy and the new one.
- Fourth, provide notification to your current company of your decision to cancel your existing policy and submit the required down payment along with the signed application to the new insurer. Make sure you store the certificate of insurance in your glove compartment.
The most important part of this process is to use identical deductibles and limits on each quote and and to get price estimates from as many auto insurance providers as possible. Doing this enables an accurate price comparison and a complete price analysis.
Amazingly, a recent NerdWallet.com study showed that the vast majority of insurance customers in Texas kept their policy with the same company for four years or more, and roughly 40% of drivers have never shopped around. The average driver in the United States can cut their rates by roughly $859 a year just by comparing rates, but they just don’t understand the amount of savings they would get if they switched to a cheaper policy.
Smart Buyers Can Reduce Insurance Rates
Lots of factors are used in the calculation when pricing auto insurance. Some are obvious such as your driving record, but others are not as apparent such as whether you are married or how safe your car is.
- Low deductibles can be expensive – Physical damage insurance, commonly called comprehensive (or other-than-collision) and collision coverage, covers your vehicle from damage. Examples of some claims that would be covered would be a broken windshield, collision with an animal, and windstorm damage. Comprehensive and collision coverage deductibles define how much you are willing to pay out-of-pocket before your insurance pays a claim. The more of the claim you are required to pay out-of-pocket, the less your insurance will be.
- Your career may increase prices – Careers like judges, police officers, and financial analysts usually pay higher rates than average in part from intense work-related stress and long work hours. Conversely, occupations such as actors, engineers and homemakers receive lower rates.
- Drive less and save – The more you drive your Chrysler each year the higher your rates will be. A lot of companies calculate prices determined by how the vehicle is used. Autos that are left in the garage can get a lower rate than vehicles that have high annual mileage. Double check that your declarations sheet is rated on the proper vehicle usage. Improper usage on your 300 may be costing you higher rates.
- Poor credit decisions can cost you – Your credit history will be a significant factor in your rate calculation. Insureds that have very good credit scores tend to be better drivers and file fewer claims than drivers with lower credit ratings. So if your credit score is lower than you’d like, you may save money insuring your Chrysler 300 by taking the time to improve your credit score.
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Chrysler 300 insurance loss probability – Companies analyze historical claim data to calculate a price that will offset any claims. Vehicles that historically have higher claim frequency or loss amount will cost more for coverage. The data below shows the insurance loss data for Chrysler 300 vehicles.
For each coverage type, the claim amount for all vehicles averaged together is considered to be 100. Numbers below 100 suggest losses that are better than average, while values that are above 100 indicate more frequent claims or larger claims.
Chrysler 300 Insurance Claim Statistics Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Chrysler 300 2WD 115 103 178 134 136 114 Chrysler 300 4WD 109 100 206 113 96 104 Chrysler 300 HEMI 125 96 225 105 114 117 BETTERAVERAGEWORSEStatistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Auto insurance data for a Chrysler 300
The premium information displayed below outlines estimates of insurance prices for Chrysler 300 models. Having a better understanding of how car insurance premiums are calculated can assist in making smart choices when purchasing an insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 300 Touring 4-Dr Sedan | $286 | $602 | $430 | $26 | $128 | $1,472 | $123 |
| 300 Touring Plus 4-Dr Sedan | $286 | $602 | $430 | $26 | $128 | $1,472 | $123 |
| 300 Touring AWD 4-Dr | $286 | $602 | $430 | $26 | $128 | $1,472 | $123 |
| 300 S V6 4-Dr Sedan | $286 | $602 | $430 | $26 | $128 | $1,472 | $123 |
| 300 Touring Signature 4-Dr Sedan | $286 | $602 | $430 | $26 | $128 | $1,472 | $123 |
| 300 Touring Executive 4-Dr Sedan | $286 | $602 | $430 | $26 | $128 | $1,472 | $123 |
| 300 Touring Signature AWD 4-Dr | $318 | $694 | $430 | $26 | $128 | $1,596 | $133 |
| 300 Limited 4-Dr Sedan | $318 | $694 | $430 | $26 | $128 | $1,596 | $133 |
| 300 C 4-Dr Sedan | $318 | $694 | $430 | $26 | $128 | $1,596 | $133 |
| 300 S V8 4-Dr Sedan | $318 | $694 | $430 | $26 | $128 | $1,596 | $133 |
| 300 Limited AWD 4-Dr | $318 | $694 | $430 | $26 | $128 | $1,596 | $133 |
| 300 C AWD 4-Dr | $318 | $694 | $430 | $26 | $128 | $1,596 | $133 |
| 300 SRT-8 4-Dr Sedan | $318 | $694 | $430 | $26 | $128 | $1,596 | $133 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Price information does not factor in specific location information which can increase or decrease coverage rates substantially.
Analysis of deductible levels
When shopping for auto insurance, a common question is the level to set your comp and collision deductibles. The rates below can help illustrate the rate difference when you buy lower versus higher physical damage deductibles. The first rate estimation uses a $100 deductible for comp and collision and the second price table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 300 Touring 4-Dr Sedan | $370 | $698 | $382 | $22 | $114 | $1,611 | $134 |
| 300 Touring Plus 4-Dr Sedan | $370 | $698 | $382 | $22 | $114 | $1,611 | $134 |
| 300 Touring AWD 4-Dr | $370 | $698 | $382 | $22 | $114 | $1,611 | $134 |
| 300 S V6 4-Dr Sedan | $370 | $698 | $382 | $22 | $114 | $1,611 | $134 |
| 300 Touring Signature 4-Dr Sedan | $370 | $698 | $382 | $22 | $114 | $1,611 | $134 |
| 300 Touring Executive 4-Dr Sedan | $370 | $698 | $382 | $22 | $114 | $1,611 | $134 |
| 300 Touring Signature AWD 4-Dr | $412 | $804 | $382 | $22 | $114 | $1,759 | $147 |
| 300 Limited 4-Dr Sedan | $412 | $804 | $382 | $22 | $114 | $1,759 | $147 |
| 300 C 4-Dr Sedan | $412 | $804 | $382 | $22 | $114 | $1,759 | $147 |
| 300 S V8 4-Dr Sedan | $412 | $804 | $382 | $22 | $114 | $1,759 | $147 |
| 300 Limited AWD 4-Dr | $412 | $804 | $382 | $22 | $114 | $1,759 | $147 |
| 300 C AWD 4-Dr | $412 | $804 | $382 | $22 | $114 | $1,759 | $147 |
| 300 SRT-8 4-Dr Sedan | $412 | $804 | $382 | $22 | $114 | $1,759 | $147 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 300 Touring 4-Dr Sedan | $270 | $472 | $382 | $22 | $114 | $1,260 | $105 |
| 300 Touring Plus 4-Dr Sedan | $270 | $472 | $382 | $22 | $114 | $1,260 | $105 |
| 300 Touring AWD 4-Dr | $270 | $472 | $382 | $22 | $114 | $1,260 | $105 |
| 300 S V6 4-Dr Sedan | $270 | $472 | $382 | $22 | $114 | $1,260 | $105 |
| 300 Touring Signature 4-Dr Sedan | $270 | $472 | $382 | $22 | $114 | $1,260 | $105 |
| 300 Touring Executive 4-Dr Sedan | $270 | $472 | $382 | $22 | $114 | $1,260 | $105 |
| 300 Touring Signature AWD 4-Dr | $300 | $542 | $382 | $22 | $114 | $1,360 | $113 |
| 300 Limited 4-Dr Sedan | $300 | $542 | $382 | $22 | $114 | $1,360 | $113 |
| 300 C 4-Dr Sedan | $300 | $542 | $382 | $22 | $114 | $1,360 | $113 |
| 300 S V8 4-Dr Sedan | $300 | $542 | $382 | $22 | $114 | $1,360 | $113 |
| 300 Limited AWD 4-Dr | $300 | $542 | $382 | $22 | $114 | $1,360 | $113 |
| 300 C AWD 4-Dr | $300 | $542 | $382 | $22 | $114 | $1,360 | $113 |
| 300 SRT-8 4-Dr Sedan | $300 | $542 | $382 | $22 | $114 | $1,360 | $113 |
| Get Your Own Custom Quote Go | |||||||
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Estimates do not factor in your specific Fort Worth location which can affect coverage rates greatly.
Based on this data, we can arrive at the conclusion that using a $100 deductible will cost you about $32 more each month or $384 for a full year than opting for the higher $500 deductible. Since you would have to pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you go at a minimum 13 months between claims, you would probably save some money by going with a higher deductible.
Responsible drivers pay cheaper Fort Worth auto insurance rates
The chart below demonstrates how citations and accidents raise Chrysler 300 insurance rates for different categories of driver ages. The rates are based on a single male driver, full physical damage coverage, $100 deductibles, and no additional discounts are factored in.
Does it make sense to buy full coverage?
The diagram below shows the comparison of Chrysler 300 insurance rates with full coverage compared to only the Texas minimum liability coverage. The costs are based on no violations or claims, $1,000 deductibles, single status, and no other discounts are factored in.
When to drop comprehensive and collision coverage
There is no set rule to stop paying for full coverage on your policy, but there is a guideline you can use. If the yearly cost of comp and collision coverage is about 10% or more of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.
For example, let’s say your Chrysler 300 book value is $9,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $8,000 after you pay the deductible. If premiums are more than $800 annually for your policy with full coverage, then it might be time to consider dropping full coverage.
There are a few situations where removing full coverage is not financially feasible. If you still owe a portion of the original loan, you have to keep full coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should keep full coverage.
Discounts mean cheaper rates for Chrysler 300 insurance in Fort Worth
Car insurance can be pricey, but companies offer discounts that could help you make your next renewal payment. Some discounts apply automatically when you quote, but some may not be applied and must be inquired about before they will apply. If you do not double check each discount available, you’re paying more than you need to.
- Paper-free Discount – A few companies will provide an incentive get Fort Worth car insurance on their website.
- Telematics Data – Drivers that enable companies to spy on driving habits through the use of a telematics system such as Allstate’s Drivewise and State Farm’s In-Drive system could see a rate decrease as long as the data is positive.
- Discounts for Seat Belt Usage – Drivers who require all vehicle occupants to use a seat belt can save up to 15% off PIP or medical payments premium.
- Discount for Swiching Early – A few car insurance companies allow discounts for buying a policy early. You may see this discount when you get Fort Worth car insurance quotes online.
- Driver Safety – Taking a safe driver class could possibly earn you a 5% discount and make you a better driver.
- Multiple Cars – Insuring several vehicles with the same car insurance company may reduce the rate for each vehicle.
- Discounts for Safe Drivers – Insureds who avoid accidents could pay up to 40% less than drivers with accidents.
- Distant College Student Discount – Kids who are enrolled in higher education away from home and do not have a car can be insured at a reduced rate.
- Pay Early and Save – If paying your policy premium upfront rather than spreading payments over time you could save 5% or more.
Discounts save money, but please remember that most discounts do not apply to the whole policy. Most only reduce specific coverage prices like physical damage coverage or medical payments. Even though the math looks like you can get free auto insurance, car insurance companies aren’t that generous. Any amount of discount will help lower the premium cost.
The diagram below visualizes the comparison of Chrysler 300 auto insurance rates with and without discounts applied to the policy rates. The premiums are based on a female driver, no violations or accidents, Texas state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, marriage, multi-car, safe-driver, and multi-policy discounts applied.
To choose insurers that offer multiple discounts in Fort Worth, click this link.
One last thing about your coverage
When buying insurance coverage, it’s a bad idea to skimp on critical coverages to save a buck or two. In too many instances, drivers have reduced uninsured motorist or liability limits and discovered at claim time they didn’t have enough coverage. The ultimate goal is to get the best coverage possible for the lowest price, not the least amount of coverage.
You just read a lot of ways to shop for Chrysler 300 insurance online. The most important thing to understand is the more price quotes you have, the better likelihood of getting affordable Chrysler 300 insurance quotes. Consumers could even find that the lowest priced auto insurance comes from a company that doesn’t do a lot of advertising. Smaller companies can often insure niche markets at a lower cost compared to the large companies like GEICO and State Farm.
Cheap Chrysler 300 insurance in Fort Worth can be purchased on the web in addition to local insurance agencies, and you should compare rates from both to have the best selection. Some auto insurance companies do not offer price quotes online and most of the time these smaller companies sell through independent agencies.
To learn more, feel free to browse these articles:
- Auto Insurance Facts and Statistics (Insurance Information Institute)
- Who Has Affordable Car Insurance Rates for Drivers Over Age 50 in Fort Worth? (FAQ)
- Who Has Affordable Fort Worth Auto Insurance for 19 Year Olds? (FAQ)
- Who Has Affordable Fort Worth Auto Insurance Rates for Teenage Males? (FAQ)
- What Car Insurance is Cheapest for a 20 Year Old Male in Fort Worth? (FAQ)
- What Insurance is Cheapest for a Nissan Versa in Fort Worth? (FAQ)
- Who Has Cheap Fort Worth Auto Insurance Rates for Ride Shares? (FAQ)
- What Car Insurance is Cheapest for Drivers with Accidents in Fort Worth? (FAQ)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Front crash protection reduces rear-end crashes (Insurance Institute for Highway Safety)
- Teen Driving Statistics (GEICO)