Cadillac Escalade Insurance - Insuring Luxury and Power

Elegance, luxury, power, strength and style merge in the Cadillac Escalade. From the moment you slide into the seats you are wrapped in luxurious leather and the epitome of quality. Every aspect of the Escalade from the front grille to the back bumper is designed to please and satisfy the most demanding car enthusiast. The price tag for an Escalade will run from $63,000 up to $85,175. You will want to be sure that you get the right insurance for this vehicle to keep your asset protected.

Underinsured and Uninsured Motorists

When choosing your insurance for your new pride and joy, make sure you have coverage for motorists who either have no insurance or choose to carry state minimums. Many people don’t realize that if they are in an accident, their insurance company expects the party that is at fault to pay. If that party has no insurance and no assets, then you will be left with a damaged car. In Alabama the minimum coverage level for property damage is only $25,000. If someone with that state minimum coverage causes an accident that totals out your Escalade, you will only receive a check for $25,000. You will still owe the balance on your car, and you will be on your own with the repairs or replacement. It will cost a little more to add underinsured and uninsured motorist protection to the insurance, but it’s worth it for the peace of mind you will have.

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Luxury Car, Luxury Price

The Escalade is a luxury car, and you can expect to pay a little more to insure it. Cadillac is top of the line, and they’re not using run-of-the-mill parts in their cars. They’re using high quality leather, luxurious wood insets and name-brand electronics. All of those items cost more to replace should there be an accident, so you can expect to pay higher premiums to your insurance company.

Higher Coverage Levels for Your Cadillac Escalade

Insurance isn’t just for protecting your property. It’s also designed to shield you from lawsuits. Anytime you are involved in an accident, there is the potential for lawsuits. It’s entirely possible that you don’t have any extra money in the bank, but people who see you driving a high class Escalade may assume otherwise. It’s sad to say, but some people smell blood in the water when there’s an accident and will sue just because they think a party has deep pockets. Protect yourself from so-called “ambulance chasers” by making sure that you choose high coverage levels. Personal injury should be at least $100,000 per person and $300,000 per accident while property coverages should also be at least $100,000. Higher coverages are preferred, so choose the greatest level that fits your budget.

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Theft Rates for Escalades

The Escalade has a high theft rate, and the insurance companies adjust rates accordingly. Expect the premiums to be a little higher, but you can negotiate a discount by investing in a high quality alarm system. In addition to the one that comes from the factory, consider adding an after-market system that would make it more difficult to hotwire the vehicle.

Safety Ratings on the Cadillac Escalade

The Escalade is loaded with safety features, and many of them can help you negotiate a slightly lower insurance rate. Make sure the insurance company knows about the antilock disc brakes and the traction and stability control. This SUV also has front side-impact airbags and full-length side curtain airbags. Mention to the insurance company that there are rear parking sensors and the higher models have a blind-spot warning system.

Insurance Premiums

While you can insure a basic sedan for less than $100 a month if you have a clean driving record, don’t expect to do the same thing with your Escalade. Average insurance premiums are at least $150 a month and will probably be higher after adding in coverage for uninsured and underinsured drivers. One way to get the premium lower is to choose a higher deductible. You may also want to talk to your insurance company about available discounts to be sure you are taking advantage of every potential cost savings.

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