What does it Cost to Insure a Jaguar?

cost to insure a Jaguar

Many vehicle owners across the U.S. consider their vehicle to be one of their most valuable assets, In fact, for those car owners who don’t own a home, that shiny new car parked outside might very well be their most valuable asset.

Although you have to purchase liability insurance to register your car and purchase a tag, it’s also important that you carry all the coverages you need to protect your vehicle in the event it’s damaged, totaled, or stolen. If you’ve financed the purchase of your car, you won’t have any choice except possibly the amount of the deductible.

Whether you are considering purchasing a new or used Jaguar, you’ll likely want to know in advance how much it’s going to set you back to make sure the vehicle is properly protected and that your liability exposure is protected as well.

 

What Consumers are Saying about Jaguars

 

Most consumers are unaware of how long Jaguars have been on the road. Although the brand has bounced around over the years, it’s important to note that Jaguar was established in 1935 by Sir William Lyons who was adamant that each Jaguar produced provided performance and beauty like no other vehicle on the market.

 

2020 Jaguar models

 

Here are published reviews from consumer review websites:

EDMUND’S

Edmunds Jaguar review


J.D. POWER

JD Power Jaguar reviews


CONSUMER AFFAIRS

Consumer Affairs Jaguar review

 

What should it cost for Jaguar Insurance?

 

Car insurance pricing is always about risk. The car insurance company will consider the risk of insuring the vehicle and they will consider the risk of insuring the driver(s). A higher than normal risk will always translate into higher insurance rates and the opposite is true as well.

The factors that will affect the cost of insurance for a Jaguar are as follows:

  1. Year, Make, and Model of the Jaguar you are considering or purchasing
  2. How much your particular model will cost new
  3. Current mileage
  4. The safety features installed on your Jaguar
  5. NHTSA ratings – get rating info from https://www.nhtsa.gov/ratings
  6. How frequent your Jaguar model is stolen nationally

 

How will Driver(s) Affect my Jaguar Insurance?

 

As was mentioned earlier, the driver(s) of your Jaguar can also have an impact on what your monthly insurance costs will be. In many cases, auto insurance for practically any vehicle can be a bargain until the company discovers that either one driver or several drivers on the policy increases their risk of insuring your vehicle.

Remember, the comp and collision insurance that protects your Jaguar is only a part of the protection you’ll need. You’ll also have to carry liability insurance which can be greatly affected by your driving habits.

 

  Driver Underwriting Questions
The DriversAge of all drivers to be insuredAge of drivers typically indicates driving experience and inexperienced drivers are a higher risk.
Gender of drivers to be insured.Typically female drivers are rated lower than makes based on claims hiistory.
Marital StatusMarried drivers are rated lower than single drivers.
Driving RecordInsurers will always pull the motor vehicle report for the last 3 to 5 years
Claims HistoryInsurers have access to claims reports (CLUE) whether the claim was reported or not.
Insurance ScoreAn insurance score is very similar to a credit score and is typically pulled on the policy owner.
Garaging AddressCity, State, and garage informationInsurance rates are typically based on "zones" which is the geographical location of your vehicle. The company will also want to know if your vehicle is parked in an open lot, on the street, or in a locked garage.

If you have a young and inexperienced driver and multiple cars on your policy, make certain that your insurance company will allow you to assign the young and inexperienced driver to the lowest-rated vehicle so that the rates for your Jaguar won’t be impacted by the young driver.

 

Which Coverages should I Purchase?

 

If you are financing or leasing your Jaguar the lender and leasing company will require that you purchase comprehensive coverage and collision coverage to protect their interest in the vehicle. Most lenders and leasing companies will not let you select an extremely high deductible so be prepared to choose $500 or lower.

Additionally, if you are leasing your Jaguar, the lease company will typically require a minimum of $300,000 in bodily injury liability coverage and at least $100,000 in property damage liability coverage which will protect you and them since they will own your leased Jaguar until you decide whether or not you want to purchase it at the end of the lease term.

In addition to the requirements your lease company or lender may have, the state where the car is going to be registered will also have a say-so in your Jaguar insurance. Each state will require proof of liability insurance on your vehicle(s) subject to its minimum limit requirement before you can register your Jaguar and get a tag. If you are new to the state you live in or this is your first time owning a vehicle, you can visit the Insurance Information Institute to confirm the liability requirements in your state.

You may also discover that you live in a state that also requires you to carry uninsured/under-insured motorist coverage, medical payments, or PIP if you live in a no-fault state.

 

Car Insurance policies are Similar, but Not the Same

 

Car insurance policies are offered as a package deal with most companies selling the same coverages in their packages. The difference between companies is the additional (add-on) coverages that are offered.

For example, with some companies, you can purchase coverage for your pet if it happens to be in the car when you’re in an accident and subsequently is injured because of the crash. Some companies will allow you to use your “personal auto” for business use where others will exclude coverage while you’re driving for business reasons.

For example, many companies will not provide liability coverage while you are operating your vehicle for a ride-sharing company like Uber or Lyft. If you are earning money from ride-sharing, be sure and make certain that the ride-sharing company provides liability coverage whenever you have their app turned on while you’re using your vehicle.

 Here is a list of typical insurance coverages that are found in a package policy and the protection they provide: 

 

COVERAGEDESCRIPTION
Bodily Injury LiabilityPays for injuries to other drivers or passengers in an at-fault accident subject to the limits in the policy.
Property Damage LiabilityPays for repairs or replacement of another person's vehicle or property during an at-fault accident subject to the limits of the policy.
Medical PaymentsMedical Payments covers medical expenses for you and other passengers in your vehicle in an accident no matter who's at fault. This coverage will even cover you for injuries sustained in another person's vehicle or as a pedestrian up to the limit in the policy.
Personal Injury Protection (PIP)PIP covers the driver, all passengers, or a pedestrian involved in an accident no matter who's at fault. PIP helps pay for medical expenses, lost wages, loss of services, and funeral expenses up to the policy limits. This coverage is typically mandatory in "no-fault" states.
Uninsured/Underinsured MotoristUninsured/Underinsured motorist covers your medical expenses if the other driver (at-fault) is uninsured or underinsured. Some states also allow uninsured/underinsured property damage that covers your vehicle as well.
Comprehensive CoverageComprehensive coverage pays to repair or replace your vehicle after a non-collision event such as fire, vandalism, theft, or acts of nature subject to your deductible.
Collision CoverageCollision coverage pays to repair or replace your vehicle after an accident that involves another vehicle or object subject to your deductible.
Emergency Roadside AssistanceRoadside assistance is available if you are locked out of your vehicle or required roadside assistance like a tire change or fuel for an empty tank. Your coverage for each event is subject to the limit you purchased on your policy.
Rental ReimbursementRental reimbursement helps pay for rental expenses if you are in an at-fault accident or
hit by an uninsured driver. Most policies will have a limit per-day and per-accident.

How can I find the Lowest Cost to Insure my Jaguar?

 

Since almost every insurance company will allow you to obtain an insurance rate online, shopping for car insurance has never been easier and more efficient.

To find the lowest rates for insuring your Jaguar and any other vehicles you have in your household, simply visit the website for each of the captive companies like Allstate, State Farm, Nationwide, Farmers, GEICO, or Progressive to get a quote for car insurance. You can also get quotes online from independent insurance agencies that represent multiple insurance companies or from rating platforms like Gabi or The Zebra.