Trying to find more affordable auto insurance is a challenge for drivers new to quoting and comparing prices online. You have so many choices that it can easily become a difficult situation to find the best coverage rates.
It's amazing but nearly 70% of consumers kept their coverage with the same auto insurance company for a minimum of four years, and approximately 40% of consumers have never compared rates to find affordable insurance. Statesville drivers can cut their rates by roughly $94 a year by just shopping around, but they just feel it's too hard to compare rate quotes online.
Car insurance policy discounts
Insuring your fleet can be pricey, but you might be missing out on some discounts that may help make it more affordable. Larger premium reductions will be automatically applied at the time of quoting, but a few must be inquired about before you get the savings.
- Claim-Free Discount - Insureds with no claims or accidents have much lower rates in comparison to insureds who have frequent claims or accidents.
- Discounts for Good Drivers - Drivers without accidents may receive a discount up to 45% compared to accident prone drivers.
- Accident Forgiveness Coverage - This one isn't a discount, but companies like Liberty Mutual, Allstate and State Farm will let one accident slide without raising rates if you are claim-free before the accident.
- Good Students Pay Less - This discount could provide a savings of up to 20% or more. You can use this discount normally up until you turn 25.
- Military Deployment Discount - Being on active deployment in the military may qualify for rate reductions.
- Early Renewal Discounts - A few larger companies offer discounts for switching companies before your current expiration date. It's a savings of about 10%.
- Senior Citizen Discount - Older drivers may qualify for better car insurance rates.
- Auto/Life Discount - Not all companies offer life insurance, but some may give you a lower premium rate if you buy some life insurance in addition to your auto policy.
One last thing about discounts, most discount credits are not given to the entire policy premium. A few only apply to the cost of specific coverages such as liability and collision coverage. So when the math indicates you could get a free car insurance policy, insurance companies wouldn't stay in business.
A list of companies and a summarized list of policyholder discounts include:
- American Family has discounts for good student, TimeAway discount, defensive driver, multi-vehicle, Steer into Savings, mySafetyValet, and early bird.
- Farm Bureau may offer discounts for safe driver, renewal discount, youthful driver, multi-policy, driver training, 55 and retired, and good student.
- State Farm policyholders can earn discounts including good student, accident-free, driver's education, Steer Clear safe driver discount, good driver, and multiple policy.
- Travelers includes discounts for new car, IntelliDrive, continuous insurance, multi-car, good student, and payment discounts.
- The Hartford may have discounts that include anti-theft, vehicle fuel type, good student, driver training, and defensive driver.
- GEICO offers premium reductions for emergency military deployment, membership and employees, federal employee, military active duty, and five-year accident-free.
- Progressive discounts include good student, multi-vehicle, online signing, online quote discount, multi-policy, and continuous coverage.
If you need lower rates, check with all companies you are considering how you can save money. A few discounts might not apply in Statesville.
How to buy Statesville insurance online
Just remember that comparing all the rates in your area increases your odds of finding lower pricing.
The providers in the list below have been selected to offer comparison quotes in North Carolina. If multiple companies are listed, we suggest you visit as many as you can in order to find the most competitive rates.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Equinox LTZ 2WD||$818||$409||$68|
|Chevrolet Silverado LTZ Extended Cab 4WD||$712||$356||$59|
|Dodge Grand Caravan Crew||$844||$422||$70|
|Dodge Ram Crew Cab SLT 2WD||$1,046||$523||$87|
|Ford Escape XLT 4WD||$558||$279||$47|
|Ford F-150 XLT Regular Cab 4WD||$630||$315||$53|
|Ford Focus SEL 4-Dr Sedan||$1,018||$509||$85|
|Honda Accord LX-P 4-Dr Sedan||$732||$366||$61|
|Honda CR-V LX 2WD||$730||$365||$61|
|Honda Civic DX 2-Dr Coupe||$860||$430||$72|
|Honda Odyssey EX-L W/Navigation||$834||$417||$70|
|Hyundai Sonata SE 4-Dr Sedan||$948||$474||$79|
|Jeep Wrangler Sport 4WD 2-Dr||$688||$344||$57|
|Kia Optima EX||$902||$451||$75|
|Nissan Altima 2.5 4-Dr Sedan||$644||$322||$54|
|Nissan Rogue SL AWD||$884||$442||$74|
|Toyota Camry Hybrid||$796||$398||$66|
|Toyota Corolla XRS||$712||$356||$59|
|Toyota Tacoma 2WD||$844||$422||$70|
|Get Your Own Custom Quote Go|
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, multi-policy, and claim-free. Rate quotes do not factor in specific Statesville garaging location which can revise coverage rates significantly.
Full coverage versus liability only rates
The information below illustrates the comparison of Honda Accord insurance rates with full phyical damage coverage and with liability coverage only. The premiums are based on no accidents, no driving violations, $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 definitive rule to stop paying for full coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is 10% or more of the settlement you would receive from your company, then you might want to consider buying only liability coverage.
For example, let's say your Honda Accord claim settlement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $3,000 after the policy deductible has been paid. If it's costing you more than $300 a year for physical damage coverage, then you might consider buying liability only.
There are some scenarios where dropping physical damage coverage is not advised. If you still have a loan on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not buy liability only.
How to lower your auto insurance premiums
Many factors are used when you get a price on insurance. Some factors are common sense such as traffic violations, although some other factors are more obscure like your vehicle usage and annual miles driven.
- Your job is a factor - Did you know that where you work can have an impact on rates? Jobs like doctors, executives and medical professionals tend to pay higher premiums than the average policyholder because of intense work situations and lots of time spent at work. Conversely, occupations like farmers, historians and performers have lower than average premiums.
- Increase deductibles and save - Insurance for physical damage to your car, also called 'full coverage', helps pay for damage to your vehicle. Some instances where coverage would apply could be running into the backend of another car, hitting a deer, and windstorm damage. Comprehensive and collision coverage deductibles are the amount of money you are required to spend out-of-pocket if a covered claim is submitted. The higher the amount you're willing to pay, the less money you will pay for auto insurance.
- Men drivers tend to cost more - Statistics show women tend to be less risk to insure than men. The data does not necessarily mean that men are worse drivers. Men and women get in fender benders in similar numbers, but men tend to have more serious accidents. In addition to higher claims, males also get cited for more serious violations like reckless driving and DUI.
- Infrequent drivers can save - The higher the miles on your car in a year's time the higher your rates will be. Many insurance companies calculate rates based on how the vehicle is used. Autos not used for work or commuting receive lower rates than cars that get driven a lot. Make sure your declarations sheet reflects the correct usage.
- Influences performance influences premiums - The make and model of the car, truck or SUV you are buying insurance for makes a significant difference in your rates. Lower performance four cylinder passenger cars usually have the lowest rates, but the cost you end up paying is determined by many additional factors.
- Better auto insurance rates with anti-theft devices - Choosing a vehicle that has an advanced theft prevention system can save you a little every year. Theft prevention devices such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all help stop car theft.
- Safety first - Safer cars cost less to insure. Safe vehicles help reduce the chance of injuries in an accident and fewer injuries translates into fewer and smaller insurance claims and lower rates for you. If your car, truck, or SUV is rated at least four stars on Safercar.gov or an "acceptable" rating on iihs.org you may pay a lower rate.
How do I know if I need professional advice?
When quoting and choosing your policy, there is no perfect coverage plan. Your needs are unique to you so your insurance should reflect that These are some specific questions can help discover whether you could use an agent's help.
- Is my camper covered for physical damage?
- What is the premium to book value ratio for dropping full coverage?
- Is business equipment covered while in my vehicle?
- Should I pay a claim out-of-pocket?
- Does my insurance cover damage caused when ticketed for reckless driving?
- Am I covered when delivering products for my home-based business?
- Can my babysitter drive my car?
If you don't know the answers to these questions, you may need to chat with an agent. To find lower rates from a local agent, simply complete this short form or click here for a list of car insurance companies in your area.
Auto insurance in North Carolina serves several purposes
Even though it can be expensive, auto insurance is mandatory in North Carolina but it also protects more than you think.
- Just about all states have minimum liability requirements which means you are required to buy a specific minimum amount of liability in order to drive the car. 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 you bought your vehicle with a loan, almost all lenders will force you to have comprehensive coverage to ensure loan repayment if the vehicle is totalled. If the policy lapses, the bank may insure your vehicle at a much higher rate and make you pay much more than you were paying before.
- Insurance protects not only your vehicle but also your assets. Insurance will also pay for hospital and medical expenses for you, any passengers, and anyone injured in an accident. Liability insurance, one of your policy coverages, will also pay attorney fees if you are sued as the result of your driving. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will cover the repair costs.
The benefits of carrying adequate insurance are without a doubt worth the cost, particularly for liability claims. According to a 2015 survey, the average American driver is overpaying over $830 a year so compare rate quotes at every renewal to ensure rates are competitive.
How much can you save?
Discount insurance in Statesville is possible both online in addition to local insurance agencies, and you should compare rates from both to have the best chance of lowering rates. A few companies do not provide online price quotes and most of the time these regional insurance providers prefer to sell through independent insurance agencies.
When shopping online for insurance, don't be tempted to sacrifice coverage to reduce premiums. There have been many cases where someone sacrificed liability coverage limits to discover at claim time they didn't have enough coverage. The goal is to buy enough coverage at the lowest possible cost, not the least amount of coverage.