When it comes to car insurance for midsize SUVs like the Jeep Grand Cherokee, its premiums tend to be among the higher end of its class. However, drivers can save significant sums annually by shopping around for the best rate available.
Insurance premiums depend on several factors, including insurer, model year and driver age. A clean driving history and low deductibles can lower premiums.
Insurance Costs by Model Year
Comparative to other midsize SUVs, the Jeep Grand Cherokee ranks among the costliest to insure. Out of 31 vehicles compared, drivers pay an average annual premium of $1,876 - however this rate can differ considerably by model year - Laredo 2WD being one of the cheapest options while Summit Reserve 4xe being more costly to protect.
Insurance costs often increase each model year; the extent of that increase varies based on various factors. One key element is how well the vehicle performs on crash test ratings; generally newer models boast advanced safety features which may help lower liability rates; however if a model receives poor scores on IIHS small overlap front crash tests and driver-side moderate overlap front crash tests this can push up physical damage coverage costs considerably.
Not only can model year affect premium costs, but the specific insurance company you select can make an even bigger impactful statement about you and your coverage needs. To find the cheapest rates it pays to compare multiple quotes from multiple providers. Many top insurers provide online quote calculators that let you enter policy data instantly to receive instantaneous pricing information; alternatively you could call local agents for quotes but this may take longer.
Review your policy regularly, particularly after any major life changes that might affect the quality of your driving or risk profile - such as changing jobs, getting married/divorced and purchasing a house are just some examples of events which could alter your car insurance rates.
USAA, GEICO and Auto-Owners are considered among the best insurance providers for Jeep Grand Cherokee owners; however there are other companies with competitive rates as well. It's important to remember that not all insurers use a uniform formula when setting rates; thus it pays to compare quotes from multiple sources in order to find one offering optimal rates suited specifically to your situation. You could save a considerable amount by doing your homework and shopping around for quotes.
Insurance Costs by State
When comparing insurance costs for Jeep Grand Cherokee models, it's essential to take state specifics into account. Rates can differ significantly depending on where you reside, your driver's age and driving record as well as liability limits and deductibles on the car itself - for instance a 40-year-old in North Carolina may pay as little as $1180 annually while costs could soar in California or Montana up to as much as $1800 yearly.
Insurance premiums depend heavily on the model of Jeep you own, with older vehicles often costing less to insure due to faster depreciation rates and therefore being cheaper repairs if totaled in an accident.
Value of Vehicle and its Involvement with Premiums Another key factor affecting car insurance premiums is value of vehicle; more costly models often cost more to insure than cheaper ones; however, certain cars, regardless of value or value can cost more, including models that are often stolen or have high accident records.
Start shopping around to reduce costs on Jeep Grand Cherokee car insurance today with MoneyGeek's comparison site - they've collected data on average premium rates across numerous insurers in your region and will show which one offers the best coverages!
As well as comparing quotes, be sure to carefully weigh the benefits of each policy before making your selection. For instance, increasing liability limits beyond the legal minimum could help mitigate against lawsuits from other drivers in an accident scenario.
Your driving record and past violations also play an integral part in determining your insurance rates, with poor driving history or being charged with DUI causing premiums to spike significantly. If this impacts you negatively, look for companies offering guaranteed rates or an SR-22 endorsement; otherwise opt for another plan altogether.
Insurance Costs by Age
MoneyGeek reports that drivers in their 20s typically pay an average monthly premium of $183 to insure their Jeep Grand Cherokee, although this number will rise with maturity and driving experience. Insurance costs tend to be lower because the Jeep has low value and horsepower - making it less likely for theft or major collisions to happen; plus this reduced repair costs means lower insurance premiums if damaged; however if physical damage coverage costs exceed 10% of actual cash value of vehicle it might be wiser to consider cutting coverage altogether.
Drivers in their 40s tend to see the lowest insurance rates for Grand Cherokees, however these costs can still differ between companies. The best way to find an affordable premium is to compare quotes from various providers; often smaller insurers that specialize in certain market niches offer the most cost-effective policies while some provide online quotes or sell through local agencies.
On average, Jeep Grand Cherokee drivers can expect to pay an annual average premium of approximately $1,414. This covers liability, collision, and comprehensive coverage as well as physical damage coverage; some opting out could reduce this to $567 annually. Remembering car insurance rates fluctuate frequently it would be wise to compare quotes at least every couple years to ensure you remain covered at a competitive price.
When searching for the most economical Jeep Grand Cherokee car insurance policy, it's essential to compare rates from various providers. Many small insurers provide lower premiums than national brands; additionally, consider additional features like roadside assistance and towing services as additional considerations.
If you're shopping for a new car, take a good hard look at how the latest Jeep models stack up when it comes to safety ratings and insurance costs. By opting for one with advanced safety features and maintaining an impeccable driving history, you may save on car insurance premiums.
Insurance Costs by Vehicle
Jeep Grand Cherokee car insurance rates tend to be relatively inexpensive due to its lower value and horsepower. Furthermore, its numerous safety features such as multistage airbags, electronic stability control and anti-lock brakes help bring down costs - ultimately decreasing repair bills which reduce overall premium costs and therefore the insurance rate.
The type of coverage chosen also impacts the total cost of an insurance policy. Full coverage encompasses liability, collision and comprehensive benefits; liability-only covers third-party injuries and property damage while comprehensive provides first-party coverages such as roadside assistance, uninsured/underinsured motorist bodily injury protection and personal injury protection - but all of them come at an added expense.
Insurance costs for a Jeep Grand Cherokee can vary widely depending on its driver and company of origin. GEICO typically offers the lowest full coverage rates, at an estimated average annual cost of $1,072 or $87 monthly premiums; Nationwide comes second at approximately $92 monthly premiums; alternative providers include Allied, Auto-Owners and USAA which specialize in providing coverage at discounted rates to active military personnel and their families.
Age and driving record play an integral role in insurance premiums for drivers. According to Expert Insurance Reviews, 20-year-old drivers could pay up to 1730 more annually on car insurance for a Grand Cherokee compared to 30-year-olds. Furthermore, insurers may increase rates for drivers who have multiple violations or accidents on their records.
Insurance providers also consider the driver's location when assessing the cost of a Jeep Grand Cherokee policy. Drivers in the Midwest and Northeast will generally face higher rates than their counterparts in the West; however, rates in some states such as Jacksonville can differ considerably more - for instance Indianapolis drivers typically pay significantly less.
There are various things you can do to reduce the cost of Jeep Grand Cherokee car insurance policies, including keeping a clean driving record and taking a defensive driving course. Another effective strategy for saving money on car insurance is shopping around and comparing rates from multiple providers; you may just find an insurer offering competitive Jeep Grand Cherokee policies at reduced rates!