Would you like to stop wasting money and find more affordable insurance rates in Albemarle, NC? Locating better insurance prices for a car in North Carolina can turn out to be a painful process, but you can use a few tricks and make it easy.
There is a better way to compare insurance rates so you're going to learn the best way to get price quotes for a new or used and obtain the lowest price from Albemarle insurance agents and online providers.
Consumers should take time to do rate comparisons at least once a year since prices are adjusted regularly by insurance companies. If you had the best price on insurance a year ago a different company probably has better rate quotes today. Ignore everything you know about insurance because I'm going to teach you one of the quickest ways to find better rates and still maintain coverage.
If you have coverage now or are shopping for new coverage, use these money-saving tips to find better prices while maintaining coverages. Shopping for the best-priced car insurance in Albemarle is simple if you know the tricks. Shoppers only have to learn the most time-saving way to get comparison rates online.
Finding a lower price on insurance is not rocket science. All you need to do is invest a few minutes comparing rates provided by online insurance companies.
The providers in the list below are ready to provide free quotes in Albemarle, NC. If multiple providers are shown, we suggest you visit as many as you can to get the best price comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Equinox LTZ 2WD||$746||$373||$62|
|Chevrolet Silverado LS Regular Cab 2WD||$652||$326||$54|
|Dodge Ram Quad Cab Sport 4WD||$904||$452||$75|
|Ford Edge Sport AWD||$834||$417||$70|
|Ford Escape XLT 2WD||$694||$347||$58|
|Ford F-150 XL Regular Cab 4WD||$810||$405||$68|
|Ford Focus SES 4-Dr Sedan||$756||$378||$63|
|Honda Accord EX-L 2-Dr Coupe||$856||$428||$71|
|Honda CR-V EX 2WD||$804||$402||$67|
|Honda Civic LX 4-Dr Sedan||$780||$390||$65|
|Hyundai Elantra GLS Touring Station Wagon||$744||$372||$62|
|Kia Optima LX||$800||$400||$67|
|Mazda 3 S Grand Touring 4-Dr Sedan||$1,030||$515||$86|
|Nissan Altima 2.5 S 4-Dr Sedan||$720||$360||$60|
|Toyota Camry XLE||$884||$442||$74|
|Toyota Corolla XLE||$1,056||$528||$88|
|Toyota RAV4 2WD||$644||$322||$54|
|Get Your Own Custom Quote Go|
Prices based on married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Prices do not factor in zip code location which can raise or lower rates considerably.
Higher deductibles save money
The diagram below illustrates how choosing a deductible and can raise or lower Hyundai Sonata yearly insurance costs for different age groups. The rate quotes are based on a married female driver, full physical damage coverage, and no discounts are taken into consideration.
Hyundai Sonata rates are for example purposes only. To get rates for your specific vehicle, click here.
Cost of full coverage
The diagram below illustrates the comparison of Nissan Altima insurance prices with and without full coverage. The data assumes no tickets, no at-fault accidents, $1,000 deductibles, single male driver, and no discounts are applied.
Nissan Altima rates are for example purposes only. To get rates for your specific vehicle, click here.
When to buy liability coverage only
There is no clear-cut rule to exclude full coverage on your policy, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is more than 10% of any settlement you would receive from your insurance company, then it might be time to buy liability only.
For example, let's pretend your Nissan Altima settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $4,000 after paying the physical damage deductible. If premiums are more than $400 annually for comprehensive and collision coverage, then you might want to consider buying only liability coverage.
There are some cases where only buying liability is not advised. If you still owe money on your vehicle, you must maintain physical damage coverage to protect the lienholder's interest in the vehicle. Also, if you can't afford to buy a different vehicle if your current one is damaged, you should not remove full coverage.
Discounts can help lower premiums on auto insurance
Auto insurance is easily one of your largest bills, but you may be missing some discounts to reduce the price significantly. Many of these discounts will be applied automatically at quote time, but a few must be asked for before you get the savings.
- Multi-Vehicle Discounts - Buying insurance for multiple vehicles on one policy can reduce rates for all insured vehicles.
- Discounts for Seat Belt Usage - Drivers who require all occupants to buckle up before driving can save a little off the medical payments premium.
- Discount for Multiple Policies - When you have multiple policies and place coverage with the same company you may save up to 20% and get you low cost Albemarle car insurance.
- Payment Discounts - By paying your entire bill at once rather than spreading payments over time you could save 5% or more.
- Drive Less and Save - Low mileage vehicles may allow you to get cheaper premium rates.
- Claim Free - Claim-free drivers can earn big discounts compared to accident-prone drivers.
- Discounts for Federal Employees - Being employed by or retired from a federal job could provide a small rate reduction depending on your company.
Consumers should know that most credits do not apply to the whole policy. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. Despite the appearance that you can get free auto insurance, it's just not the way it works.
A few of the larger companies and a summarized list of policyholder discounts are included below.
- Farmers Insurance discounts include youthful driver, alternative fuel, good student, switch companies, bundle discounts, and early shopping.
- State Farm policyholders can earn discounts including defensive driving training, driver's education, accident-free, student away at school, and good student.
- Liberty Mutual has savings for good student, multi-policy, new graduate, exclusive group savings, teen driver discount, and preferred payment discount.
- MetLife offers discounts for accident-free, good student, multi-policy, claim-free, defensive driver, and good driver.
- Progressive offers premium reductions for good student, online quote discount, multi-vehicle, multi-policy, homeowner, online signing, and continuous coverage.
It's a good idea to ask each company or agent what discounts are available to you. Some discounts might not apply in Albemarle. To locate insurance companies who offer free auto insurance quotes in North Carolina, click here.
Three reasons insurance is important
Even though rates can get expensive, paying for insurance is required for several reasons.
- Most states have minimum mandated liability insurance limits which means state laws require specific minimum amounts of liability protection 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, it's guaranteed your bank will make it mandatory that you have physical damage coverage to guarantee their interest in the vehicle. If the policy lapses, the bank may insure your vehicle for a much higher rate and force you to pay for it.
- Insurance safeguards both your assets and your vehicle. Insurance will also pay for all forms of medical expenses for not only you but also any passengers injured in an accident. One policy coverage, liability insurance, also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If damage is caused by hail or an accident, your insurance policy will pay to repair the damage.
The benefits of having insurance more than offset the price you pay, particularly if you ever have a claim. Today the average American driver is wasting up to $865 each year so smart consumers compare quotes once a year at a minimum to help ensure money is not being wasted.
The coverage is in the details
Knowing the specifics of insurance can be of help when determining the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy.
Comprehensive auto coverage - This covers damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims like theft, a tree branch falling on your vehicle, damage from a tornado or hurricane, damage from getting keyed and falling objects. The maximum payout you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much consider dropping full coverage.
Medical payments and PIP coverage - Medical payments and Personal Injury Protection insurance kick in for expenses like doctor visits, EMT expenses, ambulance fees and funeral costs. They can be used to fill the gap from your health insurance program or if you lack health insurance entirely. They cover you and your occupants and also covers any family member struck as a pedestrian. PIP is not universally available and may carry a deductible
Collision - Collision coverage will pay to fix damage to your vehicle resulting from a collision with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision can pay for claims like driving through your garage door, sideswiping another vehicle, backing into a parked car, damaging your car on a curb and hitting a mailbox. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. Drivers also have the option to choose a higher deductible in order to get cheaper collision rates.
Liability auto insurance - Liability coverage provides protection from damage that occurs to a person or their property. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 30/60/25 that translate to a limit of $30,000 per injured person, $60,000 for the entire accident, and $25,000 of coverage for damaged property. Occasionally you may see a combined single limit or CSL which provides one coverage limit without having the split limit caps.
Liability can pay for things like court costs, emergency aid, loss of income, pain and suffering and medical services. The amount of liability coverage you purchase is a decision to put some thought into, but buy higher limits if possible. North Carolina state law requires minimum liability limits of 30/60/25 but you should consider buying higher limits.
UM/UIM (Uninsured/Underinsured Motorist) coverage - This gives you protection when the "other guys" either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants and also any damage incurred to your vehicle.
Since many North Carolina drivers only purchase the least amount of liability that is required (30/60/25 in North Carolina), their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked. Usually the UM/UIM limits are set the same as your liability limits.
Lower rates by being persistent
When shopping online for car insurance, never reduce needed coverages to save money. There are a lot of situations where drivers have reduced collision coverage and found out when filing a claim they didn't have enough coverage. The ultimate goal is to buy enough coverage at the best possible price, not the least amount of coverage.
Drivers change insurance companies for many reasons like not issuing a premium refund, an unsatisfactory settlement offer, delays in paying claims and even high rates after DUI convictions. Whatever your reason, switching companies can be less work than you think.
Throughout this article, we presented some good ideas how you can compare car insurance auto insurance rates in Albemarle. The most important thing to understand is the more rate quotes you have, the more likely it is that you will get a better rate. You may even be surprised to find that the biggest savings come from the least-expected company.
For more information, link through to the following helpful articles:
- Understanding Rental Car Insurance (Insurance Information Institute)
- What is the Cheapest Car Insurance in Goldsboro, North Carolina? (FAQ)
- What Car Insurance is Cheapest for Nurses in North Carolina? (FAQ)
- What Car Insurance is Cheapest for a Ford Fusion in North Carolina? (FAQ)
- How Much are Auto Insurance Rates for Government Employees in North Carolina? (FAQ)
- What Car Insurance is Cheapest for Seniors in North Carolina? (FAQ)
- Side Impact Crash Tests (iihs.org)
- Credit Impacts Car Insurance Rates (State Farm)
- Distracted Driving Statistics (Insurance Information Institute)