Cadillac Escalade vs BMW X5 Auto Insurance

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Things to Remember...
  • The Cadillac Escalade and the BMW X5 are luxury vehicles that can be expensive to insure
  • You can lower your car insurance bill by driving carefully, asking for discounts, and lowering your deductible
  • A variety of factors impact car insurance rates including age, gender, location, and credit score

According to Forbes, increasing numbers of drivers are opting for SUVs in the United States.

Indeed, in spite of rising gas prices, the SUV market has doubled to 14 percent since 2006.

These super-luxury SUVs are not just costly to buy and drive, they can be very expensive to insure. So make sure you do the most you can to get the best insurance deal possible.

If you are looking for great auto insurance rates, type your ZIP code into the FREE rate finder tool now!

The Cadillac Escalade

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Sold by Cadillac, the luxury brand of General Motors, the Cadillac Escalade is a full-size luxury SUV. The Escalade was introduced into the U.S. market in 1999.

With a six-liter V-8 engine, the Escalade has a 0-60 mph acceleration of 8.2 seconds and comes in a hybrid version that accounts for 20 percent of the model’s sales.

According to Cadillac, the Escalade starts at $39,395 and goes up to $73,395 MSRP for its hybrid version.

Experts have lauded the Escalade for having a recognizable sleek exterior, easy handling given its heft, and beautifully appointed interiors.

The truck-based SUV does not have very good gas mileage but is a distinctive car with a range of options such as:

  • Heated and cooling cup holders
  • Tri-zone climate control
  • Eight-inch touchscreen navigation system

The BMW X5

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The BMW X5 is a midsize luxury vehicle that made its debut in 1999. According to BMW, the X5 is meant “for every path, even those without a road.”

BMW has branded the X5 as a Sport Activity Vehicle (SAV) instead as an SUV to underscore its high levels of performance on the road, in spite of its large size.

The BMW X5 is known for its stability and easy handling, sleek exteriors and multiple luxury features such as:

  • Steering wheel with tilt-and-telescoping adjustments
  • iDrive interface
  • Bluetooth technology
  • BMW Assist
  • Auto-dimming mirrors
  • Front and rear parking sensors
  • Rear privacy glass
  • Heated front seats

The BMW X5 is one of the most popular vehicles on American roads, so make sure you protect your car and your family with the best insurance possible.

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Obtaining Insurance Coverage

Car insurance is a legal requirement if you plan to drive on American roads. Car insurance is meant to protect you, your family, and your assets in case you are involved in an accident where you are at fault.

While certain kinds of car insurance are mandatory, insurance companies offer a range of non-essential insurance that could be helpful after an accident.

Depending on your budget, you can tailor your auto insurance to give you the maximum amount of protection for your family.

Some optional forms of car insurance include:

  • Collision coverage – Covers all damages caused by an automobile accident. This is an important part of insurance coverage if you drive expensive cars like the Escalade or the X5
  • Comprehensive coverage – Pays for all damages except those caused by an automobile accident. Comprehensive coverage includes weather damage, human errors, and criminal acts
  • Property damage liability (PDL) – Cover the charges for any damage caused by you to another person’s car or property including buildings, road signs, and fences
  • Rental car insurance – Pays for any damage or destruction of your rental car. If you own a car and need to rent for travel, your insurance should cover you
  • Mechanical breakdown insurance – Pays for parts and systems in your car, and is a great form of coverage for owners of expensive cars with high cost of auto parts

Lowering Your Car Insurance Bill

According to CNNMoney.com, auto insurance companies consider the driver and his record as a statistic to determine risk. Insurance providers set insurance rates that will safeguard their profits.

While insurance companies protect their bottom lines, you can take certain actions that can save you a ton of money on your car insurance.One of the most important cost-saving measures involves

One of the most important cost-saving measures involves doing some in-depth research to understand the different kinds of insurance and the optimum amount you should get.

Comparison-shopping is another important step. Research a company’s financial and customer service history. Compare their claim histories and customer service reviews.

Insurance companies will reward you for bundling your policies. So if possible, insure all your vehicles, home, health, and life with the same companies.

Car insurance companies regularly offer new discounts to attract customers besides the standard good driver and good student rewards.

Insurance experts regularly suggest raising your deductibles to lower your insurance payments.

Being aware of a high deductible might push you to drive carefully and prevent you from making minor claims that could mar your claims records.

Factors that Affect Insurance Quotes

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Every auto insurance company has a set formula for calculating its premiums, rates, claims, and coverage limits.

While these formulas are difficult for laypeople to understand, drivers should know that there are certain factors that feature in each of these formulae:

  • Driving record – A clean driving record implies a safe and solid driver. Lack of speeding tickets, punitive points, or citations indicates careful driving, which in turns translates into lower insurance rates.
  • Claims record – A clean claims record is a huge indicator for insurance companies. If you make a claim, it remains on your record for at least three years. So be careful and weigh all your options before making a claim.
  • Safety features – Crash test ratings and safety features also make a difference to insurance numbers. You can check your vehicle’s ratings at Insurance Institute for Highway Safety website.
  • Location – If you live in regions with a history of inclement geographical or weather conditions, you are likely to pay more. Similarly, urban dwellers pay more as do the residents of high crime neighborhoods.
  • Demographics – Insurance companies also focus on the age, gender, education, profession, and marital status of the drivers. If you are below the age of 25 and above 65, research indicates that you are riskier drivers. Men pay more than women do, and married people pay less than single people do.
  • Credit rating – According to MyFICO, credit scores are regularly requested by insurance companies to gauge the financial worthiness of an applicant. The higher your score, the better are your chances at receiving lower rates of insurance.

Buying Insurance for Your Luxury SUV

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If you are in the market for insurance for your luxury SUV, make sure you look at all factors in your insurance policy.

Talk to your friends and family for recommendations.

Explore all options including online sites and independent agents.

Type your ZIP code into our FREE toolbox to compare quotes from several auto insurance providers at once!

FREE Auto Insurance Comparison

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