Locating the cheapest insurance for a new or used car in North Carolina can turn out to be an all-consuming task, but you can learn our insurance buying tips to save time.
There are both good and bad ways to buy insurance so you're going to learn the quickest way to price shop coverage for your and locate the best price possible either online or from Durham insurance agents.
It's smart to check insurance prices once or twice a year due to the fact that insurance rates trend upward over time. Even if you got the best deal on insurance last year you can probably find a better price now. Ignore everything you know about insurance because we're going to demonstrate the best way to find great coverage at a great price.
Car insurance policy discounts
Car insurance is neither fun to buy or cheap, but you might already qualify for some discounts that can help lower your rates. Many discounts should be triggered when you quote, but some need to be manually applied before you get the savings.
- Safety Restraint Discount - Forcing all vehicle occupants to use their safety belts could save 15% on the medical payments or PIP coverage costs.
- Accident Forgiveness - This isn't a discount exactly, but companies like Progressive, State Farm and GEICO will turn a blind eye to one accident without raising rates if you have no claims for a particular time prior to the accident.
- Save with a New Car - Buying a new car model can save up to 30% since newer vehicles have better safety ratings.
- Own a Home and Save - Just owning your own home can save a few bucks because it is proof of financial responsibility.
- Organization Discounts - Being a member of certain professional organizations is a good way to get lower rates when shopping for car insurance.
- Responsible Driver Discounts - Insureds who avoid accidents can save up to 40% or more on their Durham auto insurance quote than drivers with accident claims.
- Distant College Student Discount - Kids who live away from home at college and don't have a car could qualify for this discount.
- Data Collection Discounts - Insureds who allow driving data collection to monitor driving manner by using a telematics device such as Allstate's Drivewise and State Farm's In-Drive system may get a rate reduction if they show good driving skills.
- Smart Student Discounts - Getting good grades can get you a discount of up to 25%. You can use this discount normally until age 25.
You should keep in mind that most discount credits are not given the the whole policy. The majority will only reduce the price of certain insurance coverages like liability, collision or medical payments. Just because it seems like adding up those discounts means a free policy, you won't be that lucky.
Some companies that have some of the discounts shown above possibly include:
If you need lower rates, check with all companies you are considering which discounts you may be entitled to. Discounts might not be offered in Durham.
All the larger insurance companies like 21st Century, Allstate and State Farm give pricing directly from their websites. Comparing insurance rates online doesn't take a lot of time because it's just a matter of typing in the amount of coverage you want on the page. When the form is submitted, their quoting system requests information on your driving record and credit history and returns pricing information based on the data you entered.
This makes it a lot easier to compare rates and it's necessary to get many rate quotes if you want to get the lowest payment on insurance.
In order to get comparison pricing now, consider comparing rates from the companies shown below. If you have coverage now, it's recommended you input deductibles and limits as close as possible to your current policy. This way, you will have an apples-to-apples comparison based on identical coverages.
The companies shown below have been selected to offer price comparisons in Durham, NC. If multiple companies are shown, we recommend you visit two to three different companies to get the best price comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Equinox LS 2WD||$684||$342||$57|
|Chevrolet Silverado LS Crew Cab 4WD||$634||$317||$53|
|Dodge Ram Quad Cab Laramie 4WD||$1,086||$543||$91|
|Ford Escape XLS 2WD||$748||$374||$62|
|Ford Explorer Eddie Bauer 4WD||$658||$329||$55|
|Ford F-150 Lariat King Ranch 4WD||$956||$478||$80|
|Ford Focus SE 4-Dr Sedan||$736||$368||$61|
|Ford Fusion Sport 4-Dr Sedan||$710||$355||$59|
|Honda Accord EX 4-Dr Sedan||$804||$402||$67|
|Honda CR-V EX 4WD||$860||$430||$72|
|Honda Civic EX 4-Dr Sedan||$776||$388||$65|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$822||$411||$69|
|Nissan Altima 3.5 SR 4-Dr Sedan||$804||$402||$67|
|Toyota Camry XLE||$896||$448||$75|
|Toyota Corolla LE||$938||$469||$78|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$592||$296||$49|
|Get Your Own Custom Quote Go|
Data based on married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Information does not factor in specific location which can revise auto insurance rates noticeably.
Full coverage versus liability-only
The example below illustrates the comparison of Nissan Altima insurance prices when comparing full coverage to liability only. The premiums are based on no violations or claims, $1,000 deductibles, single female driver, and no additional discounts are factored in.
Nissan Altima rates are for example purposes only. To get rates for your specific vehicle, click here.
Should you buy full coverage or liability only?
There is no definitive rule to exclude full coverage, but there is a broad guideline. If the annual cost of having full coverage is more than around 10% of the replacement cost minus the deductible, then it's probably a good time to buy liability coverage only.
For example, let's assume your Nissan Altima settlement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would receive is $4,000 after the deductible is paid. If you are paying in excess of $400 annually for full coverage, then you might want to consider buying only liability coverage.
There are a few situations where dropping full coverage is not recommended. If you haven't satisfied your loan, you must maintain physical damage coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not consider dropping full coverage.
When to get professional advice
When choosing proper insurance coverage, there really is no best way to insure your cars. Each situation is unique and your policy should reflect that. For instance, these questions can aid in determining whether your personal situation might need professional guidance.
- When should I not buy collision coverage?
- Is my nanny covered when driving my vehicle?
- Should I buy more coverage than the required North Carolina minimum liability coverage?
- Is my custom paint covered by insurance?
- What is the rate difference between pleasure use and commuting?
- Can I afford to buy a different vehicle if my vehicle is totaled?
- How can I get the company to pay a claim?
- What vehicles should carry emergency assistance coverage?
- Am I covered if I hit someone who is not insured?
- Can I afford low physical damage deductibles?
If you're not sure about those questions but you know they apply to you then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It's fast, free and can help protect your family.
Auto insurance agents near you
A lot of people would rather buy from a licensed agent and often times that is recommended Agents can help you build your policy and help you file claims. A good thing about comparing rates online is the fact that you can find lower rates and still buy from a local agent. And buying from local insurance agencies is definitely important in Durham.
After completing this quick form, your insurance coverage information is instantly submitted to agents in your area who will give you bids for your business. You don't have to do any legwork because prices are sent straight to your inbox. If you have a need to get a price quote from a specific company, you can always search and find their rate quote page and give them your coverage information.
If you're trying to find a local Durham insurance agent, you should know the types of insurance agents and how they differ in how they can insure your vehicles. Agents in Durham can be classified as either exclusive agents or independent agents. Both types can do a good job, but it's a good idea to understand how they are different since it could factor into which agent you choose.
Independent Agents (or Brokers)
Agents that choose to be independent can sell policies from many different companies and that gives them the ability to insure amongst many companies and get you the best rates possible. If you are not satisfied with one company, they simply move the coverage in-house which makes it simple for you.
If you need lower rates, it's recommended you include rate quotes from independent agents so that you can do a thorough price comparison. Most independent agents also contract with less well-known companies which may provide better rates.
Exclusive Insurance Agents
Agents that choose to be exclusive normally can only provide a single company's rates like Farmers Insurance or State Farm. They usually cannot compare rates from other companies so it's a take it or leave it situation. They are very knowledgeable on their company's products and that enables them to sell even at higher rates. Some consumers prefer to buy from the same agent for years mainly due to high brand loyalty and the convenience of having all coverages with one company.
Finding the right insurance agency shouldn't rely on just the premium amount. The questions below may impact your decision as well.
- Do they feel the quoted coverages are adequate?
- Is there a local claims center in Durham?
- Are they involved in claim handling?
- Does the agency support the community they serve?
- Who are their largest clients?
- Is the agent properly licensed in North Carolina?
Affordable insurance is out there
Affordable insurance in Durham is attainable from both online companies and from local insurance agents, and you should compare price quotes from both to have the best rate selection. There are still a few companies who may not have internet price quotes and most of the time these smaller providers provide coverage only through local independent agents.
As you prepare to switch companies, never reduce coverage to reduce premium. There have been many situations where consumers will sacrifice full coverage and learned later that a couple dollars of savings turned into a financial nightmare. Your aim should be to buy the best coverage you can find at the lowest possible cost while not skimping on critical coverages.