Do you need a better way to compare more affordable car insurance rates in Wilmington, NC? Are you a victim of high-priced car insurance? Trust us, there are many people just like you.

A recent car insurance study revealed that the vast majority of car insurance customers have bought car insurance from the same company for over three years, and 38% of customers have never compared quotes from other companies. The average driver in Wilmington could cut their rates by about $94 a year by just comparing quotes, but most undervalue how much they could save if they just switched companies.

With people having so many options, it's nearly impossible to locate the most affordable car insurance company.

You should make it a habit to shop coverage around every six months because prices fluctuate regularly. Just because you found the best quotes on car insurance on your last policy the chances are good that you can find a lower rate today. Block out anything you think you know about car insurance because you're going to learn the quickest way to lower your annual insurance bill.

Locating the most cost-effective insurance policy in Wilmington is much easier if you know where to start. If you're already insured, you will most likely be able to get lower rates using the ideas presented in this article. But North Carolina vehicle owners do need to learn how the larger insurance companies set your policy premium because it can help you find the best coverage.

Auto insurance rates and discounts

Some insurance providers don't always list every available discount very well, so the list below gives a summary of some of the best known and the more hidden ways to save on auto insurance. If they aren't giving you every credit possible, you are paying more than you should be.Save money with discounts

One thing to note about discounts is that most discounts do not apply to the entire cost. Most only cut the price of certain insurance coverages like comp or med pay. Despite the appearance that having all the discounts means you get insurance for free, that's just not realistic.

Larger auto insurance companies and some of their more popular discounts are:

When quoting, ask all companies you are considering to give you their best rates. Savings might not be available to policyholders in your area. To locate insurers that provide some of the discounts listed above in Wilmington, follow this link.

Just keep in mind that comparing a large number of companies increases your odds of finding a better price. Some insurance companies are not set up to provide quotes online, so you need to compare price quotes from those companies as well.

The providers in the list below are ready to provide quotes in Wilmington, NC. If multiple companies are shown, we recommend you click on several of them to get the best price comparison.

Insurance Rate Estimates for Popular Vehicles in Wilmington
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Silverado LT Regular Cab 2WD $886 $443 $74
Dodge Ram Crew Cab TRX 2WD $634 $317 $53
Ford Edge SEL 2WD $568 $284 $47
Ford Escape XLS 2WD $694 $347 $58
Ford F-150 XL Super Cab 2WD $902 $451 $75
Ford Focus S 4-Dr Sedan $866 $433 $72
Ford Fusion SEL 4-Dr Sedan $836 $418 $70
Honda Accord LX 4-Dr Sedan $654 $327 $55
Honda CR-V EX-L 4WD $670 $335 $56
Honda Civic EX 2-Dr Coupe $720 $360 $60
Hyundai Elantra Blue 4-Dr Sedan $818 $409 $68
Jeep Wrangler Sahara 4WD 2-Dr $622 $311 $52
Nissan Altima 2.5 4-Dr Sedan $1,068 $534 $89
Toyota Camry LE $656 $328 $55
Toyota Corolla XRS $1,062 $531 $89
Volkswagen Jetta SE 4-Dr Sedan $958 $479 $80
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Data rating is based on married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Information does not factor in the specific area where the vehicle is garaged which can lower or raise prices noticeably.

Deductible analysis

The hardest decision when buying coverage is how low should you set your deductibles. The comparisons below approximate the cost difference when you choose different deductibles. The first data table uses a $100 comprehensive and collision deductible and the second pricing table uses a $500 deductible.

Ford Fusion rates are for example purposes only. To get rates for your specific vehicle, click here.

Ford Fusion insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Fusion S 4-Dr Sedan $214 $386 $250 $14 $74 $963 $80
Fusion SE 4-Dr Sedan $242 $456 $250 $14 $74 $1,061 $88
Fusion Hybrid 4-Dr Sedan $242 $524 $312 $18 $94 $1,215 $101
Fusion SEL 4-Dr Sedan $242 $456 $250 $14 $74 $1,061 $88
Fusion Sport 4-Dr Sedan $242 $456 $250 $14 $74 $1,061 $88
Fusion SEL AWD 4-Dr Sedan $270 $524 $250 $14 $74 $1,157 $96
Fusion Sport AWD 4-Dr Sedan $270 $524 $250 $14 $74 $1,157 $96
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Ford Fusion insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Fusion S 4-Dr Sedan $156 $262 $250 $14 $74 $756 $63
Fusion SE 4-Dr Sedan $176 $308 $250 $14 $74 $822 $69
Fusion Hybrid 4-Dr Sedan $176 $354 $312 $18 $94 $954 $80
Fusion SEL 4-Dr Sedan $176 $308 $250 $14 $74 $822 $69
Fusion Sport 4-Dr Sedan $176 $308 $250 $14 $74 $822 $69
Fusion SEL AWD 4-Dr Sedan $196 $354 $250 $14 $74 $888 $74
Fusion Sport AWD 4-Dr Sedan $196 $354 $250 $14 $74 $888 $74
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Above prices 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-policy, safe-driver, and multi-vehicle. Prices do not factor in garaging location in Wilmington which can alter auto insurance rates considerably.

Using the data above, we can ascertain that using a $100 deductible costs roughly $20 more each month or $240 every year than opting for the higher $500 deductible. Because you would be required to pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you tend to have at least 20 months between claim filings, you would more than likely save some money by selecting a higher deductible.

Policy deductibles

The information below shows how different deductible levels and can increase or decrease Honda Accord annual premium costs for different age groups of insureds. The information is based on a married female driver, full physical damage coverage, and no additional discounts are factored in.

Honda Accord rates are for example purposes only. To get rates for your specific vehicle, click here.

Comparison of full coverage and liability-only policies

The illustration below illustrates the difference between Honda Civic insurance costs with and without physical damage coverage. The prices are based on a clean driving record, no at-fault accidents, $500 deductibles, single male driver, and no discounts are applied to the premium.

Honda Civic rates are for example purposes only. To get rates for your specific vehicle, click here.

Deciding between full coverage and liability only

There is no set rule to eliminate physical damage coverage, but there is a general convention. If the yearly cost of comp and collision coverage is more than around 10% of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.

For example, let's say your Honda Civic settlement value is $8,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company would pay you is $7,000 after paying your deductible. If you are paying more than $700 a year for physical damage coverage, then you might consider buying liability only.

There are some cases where only buying liability is not advised. If you have an outstanding loan on your vehicle, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not opt for liability only.

Should you pay for full coverage or liability only?

There is no set guideline to drop comprehensive and collision coverage on your policy, but there is a general school of thought. If the yearly cost of full coverage is 10% or more of the vehicle's replacement cost less your deductible, then you might want to consider buying only liability coverage.

For example, let's assume your Chevrolet Cruze settlement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $5,000 after paying your deductible. If premiums are more than $500 a year for comprehensive and collision coverage, then you might consider buying liability only.

There are some scenarios where dropping physical damage coverage is not recommended. If you haven't satisfied your loan, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not remove full coverage.

Why smart consumers get better rates in Wilmington

Many different elements are taken into consideration when quoting car insurance. Some are pretty understandable like your driving record, but other factors are less apparent like where you live or how financially stable you are.

It's not one size fits all

Keep in mind that when it comes to choosing the right insurance coverage, there really isn't a "perfect" insurance plan. Your needs are unique to you and your policy should reflect that.Auto insurance savings Here are some questions about coverages that can aid in determining if you might need professional guidance.

If it's difficult to answer those questions but one or more may apply to you, you might consider talking to a licensed agent. To find lower rates from a local agent, complete this form or you can also visit this page to select a carrier

Comparing rates from local Wilmington insurance agencies

Many drivers just prefer to talk to an insurance agent and that is OK! An additional benefit of getting free rate quotes online is the fact that you can find lower rates but still work with a licensed agent.

Insurance agency in WilmingtonTo find an agent, once you fill out this quick form, your coverage information gets sent to participating agents in Wilmington who want to provide quotes to get your business. There is no reason to contact an agency because prices are sent directly to you. You can find lower rates and a licensed agent to talk to. If you have a need to get a comparison quote from a specific company, just find their quoting web page and fill out their quote form.

Choosing an insurance company is decision based upon more than just the price. Get answers to these questions too.

If you want a local Wilmington insurance agent, you should know the different types of agents and how they differ in how they can insure your vehicles. Wilmington agents can be described as either independent or exclusive depending on the company they work for.

Exclusive Agencies

Agents of this type can only quote rates from one company and examples are Allstate and State Farm. They are unable to shop your coverage around so keep that in mind. Exclusive agents are very knowledgeable on the products they sell and that allows them to sell at a higher price point.

Independent Insurance Agents

Agents that choose to be independent are appointed with more than one company and that gives them the ability to insure with a variety of different insurance companies and get the cheapest rates. To move your coverage to a new company, your agent can just switch to a different company which makes it simple for you. If you are trying to find cheaper rates, it's recommended you contact several independent insurance agents to maximize your price options.

If you feel you receive acceptable answers to these questions and locked in a price quote, you may have just found a car insurance agent that is professional and can properly service your insurance policy.

Insurance is not optional but you don't have to overpay

Despite the potentially high cost of insurance, maintaining insurance is a good idea for several reasons.

The benefits of having insurance are definitely more than the cost, especially if you ever need it. As of last year, the average driver in North Carolina is overpaying more than $700 annually so compare rates at every policy renewal to ensure rates are inline.

One last note

We've covered quite a bit of information on how to lower your car insurance prices in Wilmington. The key concept to understand is the more companies you get rates for, the higher the chance of saving money. Consumers may even find the lowest prices are with some of the smallest insurance companies. These companies may only write in your state and offer lower rates than the large multi-state companies such as Progressive and GEICO.

Affordable car insurance in Wilmington can be bought on the web and also from your neighborhood Wilmington agents, and you should be comparing both to have the best selection. There are still a few companies who do not provide the ability to get quotes online and these regional insurance providers provide coverage only through independent insurance agents.

For more information, take a look at the resources below: