Price shopping your car insurance could be very difficult for drivers who are new to comparison shopping online. Consumers have so many companies to choose from that it can quickly become a real difficult job to lower your rates on car insurance.
Unfortunately, most drivers have been with the same company for more than four years, and just under half have never quoted car insurance rates at all. The average driver in North Carolina can cut their rates by nearly $90 a year just by getting comparison quotes, but they don't know the benefits if they replace their high priced policy.
You need to price shop coverage once or twice a year because rates tend to go up over time. Just because you found the best premium rates on car insurance on your last policy you will most likely find a better price today. Block out anything you think you know about car insurance because we're going to demonstrate the only way to buy cheaper car insurance.
Buying the cheapest car insurance in Monroe is quite easy. If you're already insured, you will be able to save money using the techniques covered below. But North Carolina vehicle owners do need to learn the methods companies use to compete online because rates are impacted by many factors.
The quickest method we recommend to get policy rate comparisons is to know the fact most larger insurance companies allow for online access to compare their rates. All consumers are required to do is take a few minutes to give details like whether you are married, if you have an active license, types of safety features, and whether your vehicle is owned or leased. Those rating factors is then sent to multiple insurance providers and you will receive price estimates immediately.
To check rates for your car now, click here and see if a lower rate is available in Monroe.
The car insurance companies shown below have been selected to offer comparison quotes in Monroe, NC. If the list has multiple companies, we recommend you visit two to three different companies to find the most competitive car insurance rates.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Impala LTZ||$906||$453||$76|
|Chevrolet Malibu Hybrid||$580||$290||$48|
|Chevrolet Silverado LS Crew Cab 2WD||$1,114||$557||$93|
|Dodge Ram Quad Cab ST 4WD||$718||$359||$60|
|Ford Escape XLS 2WD||$694||$347||$58|
|Ford Explorer Limited 2WD||$1,096||$548||$91|
|Ford F-150 STX Regular Cab 2WD||$970||$485||$81|
|Ford Focus SES 4-Dr Sedan||$782||$391||$65|
|Ford Fusion S 4-Dr Sedan||$988||$494||$82|
|Honda Accord LX-S 2-Dr Coupe||$1,200||$600||$100|
|Honda CR-V LX 2WD||$588||$294||$49|
|Honda Civic SI 4-Dr Sedan||$756||$378||$63|
|Hyundai Sonata SE 4-Dr Sedan||$740||$370||$62|
|Jeep Grand Cherokee Limited 4WD||$1,030||$515||$86|
|Nissan Altima 3.5 SR 4-Dr Sedan||$1,080||$540||$90|
|Toyota Camry Hybrid||$990||$495||$83|
|Toyota Corolla XLE||$784||$392||$65|
|Toyota RAV4 2WD||$592||$296||$49|
|Get Your Own Custom Quote Go|
Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Rate quotes do not factor in Monroe location which can raise or lower auto insurance rates noticeably.
Where to set your deductibles
The hardest decision when buying coverage is which deductibles should you choose. The rates below can help you understand how much more you'll pay when you select higher and lower deductibles. The first rate quote example uses a $250 physical damage deductible and the second rate table uses a $1,000 deductible.
Chevrolet Malibu rates are for example purposes only. To get rates for your specific vehicle, click here.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get a Quote for Your Vehicle Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get a Quote for Your Vehicle Go|
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Rate quotes do not factor in vehicle location which can increase or decrease coverage rates significantly.
Based on this data, we can arrive at the conclusion that using a $250 deductible costs roughly $19 more each month or $228 for a full year than opting for the higher $1,000 deductible. Since you would have to pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you normally average more than 39 months between claim filings, you would more than likely save some money if you choose the higher deductible.
Comparison of full coverage and liability-only policies
The information below shows the difference between Honda Accord insurance premiums with full physical damage coverage compared to only buying the minimum liability limits required in North Carolina. The rates are based on no claims, a clean driving record, $250 deductibles, single male driver, and no discounts are applied.
Honda Accord rates are for example purposes only. To get rates for your specific vehicle, click here.
When to switch to liability coverage only
There is no exact rule of when to drop comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is more than about 10% of the vehicle's replacement cost less your deductible, then you might consider buying liability only.
For example, let's pretend your Honda Accord replacement cost is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would receive is $2,000 after the deductible is paid. If you are currently paying more than $200 a year for full coverage, then it's probably a good time to buy liability coverage only.
There are a few situations where dropping full coverage is not in your best interest. If you still have a lienholder on your title, you have to maintain full coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.
Save a ton with discounts
Car insurance is easily one of your largest bills, but there could be available discounts that many consumers don't even know exist. Some discounts will apply when you get a quote, but some discounts are required to be specifically requested prior to getting the savings. If they aren't giving you every credit available, you are just wasting money.
- Homeowners Savings - Simply owning a home can save you money because of the fact that having a home is proof that your finances are in order.
- No Charge for an Accident - This isn't a discount exactly, but companies like GEICO and Liberty Mutual will forgive one accident without getting socked with a rate hike if you are claim-free prior to being involved in the accident.
- Life Insurance Discount - Car insurance companies who offer life insurance give lower premium rates if you buy life insurance from them.
- No Claim Discounts - Claim-free drivers get the best car insurance rates compared to frequent claim filers.
- Good Student Discount - This discount can get you a discount of up to 25%. This discount can apply up until you turn 25.
- Auto/Home Discount - If you combine your home and auto policies and insure them both with the same insurance company you could earn a discount of at least 10% off all policies.
- Savings for New Vehicles - Putting insurance on a new car is cheaper because newer vehicles keep occupants safer.
A quick disclaimer, some credits don't apply to the entire cost. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. So when the math indicates you can get free auto insurance, nobody gets a free ride.
For a list of car insurance companies who offer online car insurance quotes in North Carolina, click here to view.
Why you need vehicle insurance in North Carolina
Even though it can be expensive, buying insurance serves several important purposes.
- Just about all states have mandatory insurance requirements which means the state requires a specific minimum amount of liability insurance if you drive a vehicle. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your vehicle has a lienholder, almost every bank will make it mandatory that you buy insurance to ensure loan repayment if the vehicle is totalled. If you default on your policy, the bank or lender will purchase a policy for your vehicle at a more expensive rate and require you to reimburse them for it.
- Insurance preserves both your assets and your vehicle. It will also provide coverage for all forms of medical expenses for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, also covers all legal expenses up to the policy limit if you are sued as the result of your driving. If your car is damaged in a storm or accident, collision and comprehensive coverages will pay to restore your vehicle to like-new condition.
The benefits of insuring your vehicle more than cancel out the cost, especially if you ever need it. On average, a vehicle owner in Monroe is wasting up to $865 each year so you should quote rates at every policy renewal to make sure the price is not too high.
Always remember that when buying coverage, there really isn't a single plan that fits everyone. Every insured's situation is different.
For instance, these questions can aid in determining if your situation could use an agent's help.
- Will I lose any money if I cancel my policy before it expires?
- What if I total my vehicle and owe more than it's worth?
- When should I remove my kid from my policy?
- Should I have combined single limit or split liability limits?
- How high should deductibles be on a vehicle?
- Is pleasure use cheaper than using my vehicle to commute?
- Am I covered by my spouse's policy after a separation?
If it's difficult to answer those questions but you think they might apply to your situation then you might want to talk to an insurance agent. To find an agent in your area, simply complete this short form.
When should I have guidance from a local insurance agent?
Certain consumers still like to have an agent's advice and that is OK! A nice benefit of comparing rate quotes online is you can get better rates but also keep your business local.
For easy comparison, once you complete this short form, the quote information gets sent to local insurance agents in Monroe that provide free Monroe auto insurance quotes for your business. You don't have to find an agent since price quotes are sent immediately to your email address. You'll get the best rates without requiring a lot of work. If for some reason you want to get a comparison quote for a specific company, don't hesitate to find their quoting web page to submit a rate quote request.
Choosing an company shouldn't rely on just a low price. You should also get answers to these questions.
- Can glass repairs be made at your home?
- Are they able to provide referrals?
- Is the coverage adequate for your vehicle?
- What companies can they write with?
- Do the agents have professional certifications like CPCU or CIC?
- What will you get paid if your car is a total loss? How is that amount determined?
- Are claims handled at the agent's location?
- What insurance companies do they recommend if they are an independent agent?
If you're trying to find a local agent, it helps to know the two different types of agencies and how they are slightly different. Car insurance policy providers can be classified as either independent agents or exclusive agents depending on their employer.
Exclusive Insurance Agencies
Exclusive agencies are contracted to one company such as Farmers Insurance, State Farm, Allstate, and AAA. They generally cannot compare rates from other companies so you need to shop around if the rates are high. Exclusive insurance agents receive extensive training on sales techniques and that enables them to sell even at higher rates. Some people will only purchase coverage from exclusives mainly due to the brand legacy rather than having the cheapest rates.
Independent Agents (or Brokers)
Agents of this type can sell policies from many different companies and that is an advantage because they can write policies through many companies and get the cheapest rates. To move your coverage to a new company, they can switch companies in-house which requires no work on your part. When comparing car insurance prices, you will definitely want to include rate quotes from a few independent agents in order to have the best price comparison. They often place coverage with smaller companies which can save you money.