Want to learn the secrets to finding lower-priced car insurance rates in Lexington, NC? No one in their right mind looks forward to paying premiums for car insurance, especially knowing they could find better rates elsewhere.

Statistics show that almost 70% of insureds kept their policy with the same company for at least four years, and roughly 40% of drivers have never quoted car insurance rates at all. Many drivers in Lexington could cut their rates by about 10% a year, but most just don't grasp the amount of savings they would get if they just switched companies.

Due to the abundance of choices, it's nearly impossible to find the right company.

You need to compare prices on a regular basis because rates are usually higher with each renewal. Just because you found the best rate on car insurance a few years ago you will most likely find a better price today. You can search a lot of car insurance online but in just a couple of minutes you can learn the best ways to save money.

Buying the cheapest car insurance in Lexington is actually very simple if you learn how to start. Just about anyone who comparison shops for car insurance will probably be able to find better rates. But North Carolina consumers must learn the way insurance companies determine what you pay and use this information to your advantage.

To get affordable Lexington auto insurance quotes, there a variety of ways to compare quotes from different companies. By far the easiest way to find affordable insurance rates is simply to get online rate quotes.

It's so fast and easy to compare rate quotes online that it makes it a waste of time to waste gas driving to different Lexington agent offices. Comparing car insurance rate quotes online eliminates the middleman unless you require the trained guidance that you can only get from talking to an agent. Although, it is possible comparison shop your insurance online but purchase the actual policy in an agency. When comparison shopping, getting more free quotes increases the chance that you will find the best price.

The companies shown below are our best choices to provide price comparisons in North Carolina. If the list has multiple companies, it's a good idea that you visit several of them in order to find the lowest rates.

Insurance Cost Estimates for Popular Vehicles in Lexington
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Colorado LT Crew Cab 2WD $862 $431 $72
Chevrolet Silverado LT Regular Cab $1,044 $522 $87
Dodge Ram Crew Cab TRX 4WD $878 $439 $73
Ford Escape Limited 4WD $786 $393 $66
Ford Explorer XLT AWD $836 $418 $70
Ford F-150 XLT Crew Cab 2WD $656 $328 $55
Ford Focus SE 4-Dr Sedan $830 $415 $69
Honda Accord EX-L 2-Dr Coupe $856 $428 $71
Honda CR-V LX 4WD $638 $319 $53
Honda Civic VP 4-Dr Sedan $720 $360 $60
Jeep Grand Cherokee Limited 4WD $820 $410 $68
Jeep Wrangler Unlimited Sahara 2WD 4-Dr $802 $401 $67
Kia Optima SX $1,228 $614 $102
Nissan Altima 2.5 S 2-Dr Coupe $1,012 $506 $84
Toyota Camry LE $592 $296 $49
Toyota Corolla XLE $818 $409 $68
Volkswagen Jetta 2.0T 4-Dr Sedan $930 $465 $78
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Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Table data does not factor in vehicle location which can decrease or increase coverage rates greatly.

Age, gender, and differences in insurance rates

The example below visualizes the comparison of insurance premiums for male and female drivers in Lexington. The data is based on no violations or claims, comprehensive and collision coverage, $500 deductibles, single marital status, and no other discounts are factored in on a Ford Fusion SEL.

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

Deductible analysis

One frequently asked question is how high should your deductibles be. The following tables may help to conceptualize how much more rates are between high and low insurance deductibles. The first pricing table uses a $100 deductible for comp and collision and the second price chart uses a $1,000 deductible.

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

Honda Pilot insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Pilot LX 2WD $214 $318 $250 $14 $74 $895 $75
Pilot EX 2WD $242 $318 $250 $14 $74 $923 $77
Pilot EX 4WD $242 $318 $250 $14 $74 $923 $77
Pilot EX-L 2WD $242 $386 $250 $14 $74 $991 $83
Pilot EX-L 4WD $242 $386 $250 $14 $74 $991 $83
Pilot Touring 2WD $242 $386 $250 $14 $74 $991 $83
Pilot Touring 4WD $242 $386 $250 $14 $74 $991 $83
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Honda Pilot insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Pilot LX 2WD $118 $168 $250 $14 $74 $624 $52
Pilot EX 2WD $134 $168 $250 $14 $74 $640 $53
Pilot EX 4WD $134 $168 $250 $14 $74 $640 $53
Pilot EX-L 2WD $134 $204 $250 $14 $74 $676 $56
Pilot EX-L 4WD $134 $204 $250 $14 $74 $676 $56
Pilot Touring 2WD $134 $204 $250 $14 $74 $676 $56
Pilot Touring 4WD $134 $204 $250 $14 $74 $676 $56
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Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Estimates do not factor in vehicle location which can increase or decrease coverage prices considerably.

Using the data above, we can ascertain that using a $100 deductible costs roughly $25 more each month or $300 each year than buying the higher $1,000 deductible. Since the policyholder would be required to pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you average at a minimum 36 months between claims, you would probably be better off if you choose a higher deductible. Here's the way you can do this calculation yourself.

Average monthly premium for $100 deductibles: $80
Average monthly premium for $1,000 deductibles (subtract): - $55
Monthly savings from raising deductible: $25
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $25
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 36 months

Difference between liability only and full coverage rates

The chart below examines Chevrolet Tahoe car insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premium estimates are based on no claims or driving violations, $1,000 deductibles, single female driver, and no other discounts are factored in.

Chevrolet Tahoe rates are for example purposes only. To get rates for your specific vehicle, click here.

Are you wasting money on full coverage?

There is no exact rule to eliminate comp and collision coverage, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is about 10% or more of the vehicle's replacement cost less your deductible, then you may need to consider dropping full coverage.

For example, let's say your Chevrolet Tahoe replacement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, you would only receive $4,000 after paying your deductible. If you are paying more than $400 a year for your policy with full coverage, then it may be the right time to buy liability only.

There are some situations where buying only liability insurance is not financially feasible. If you haven't paid off your loan, you have to carry full coverage as part of the loan conditions. Also, if you can't afford to buy a different vehicle in case of an accident, you should keep full coverage.

Do you really save 40% when you switch?

GEICO, State Farm and Progressive constantly bombard you with television, radio, and online ads. They all seem to make the point about savings if you get a free Lexington auto insurance quote and switch to them. But how can every company have lower policy pricing? It's all in the numbers.

Different companies can use profiling for the driver that is profitable for them. One example of a desirable insured could be a married male, has no driving citations, and has a short commute. A customer getting a price quote who fits that profile will get a cheap rate quote in Lexington and is almost guaranteed to save quite a bit of money when switching.

Consumers who do not meet this ideal profile will probably be forced to pay a more expensive rate which leads to the customer not purchasing. The ads say "customers who switch" not "all people who quote" can get the lowest rates when switching. That's the way companies can truthfully claim big savings. Because every company is different, it is so important to compare as many free Lexington auto insurance quotes as you can. It's just not possible to know the company that will give you the biggest savings.

Car insurance protects more than just your car

Despite the high insurance cost in Lexington, car insurance is mandatory in North Carolina but it also protects more than you think.

The benefits of buying enough insurance outweigh the cost, especially for larger claims. According to a recent study, the average American driver overpays as much as $800 each year so you should quote your policy with other companies every year to ensure rates are competitive.

Verify you're earning every discount

Companies don't always list the entire discount list in a way that's easy to find, so the next list breaks down both well-publicized as well as the least known credits available to lower your premiums when you buy Lexington auto insurance online.Auto insurance discounts

You can save money using discounts, but some credits don't apply to the entire policy premium. Most only cut specific coverage prices like medical payments or collision. So when it seems like you would end up receiving a 100% discount, it just doesn't work that way.

To view providers offering auto insurance discounts in North Carolina, click this link.

Local Lexington insurance agents

Some consumers would prefer to talk to a local agent and that is just fine! One of the great benefits of getting online price quotes is you can get cheaper rates and also buy local.

Lexington insurance agentsBy using this short form, the coverage information is emailed to insurance agents in Lexington that give free quotes to get your business. There is no need to even leave your home since price quotes are sent directly to your email. Get lower rates without requiring a lot of work. If you want to get a price quote from one company in particular, just navigate to their website and submit a quote form there.

Finding the right insurer should depend on more than just a cheap quote. Here are some questions to ask:

How to choose the best car insurance agent in Lexington

If you are wanting to purchase car insurance from a reputable insurance agent or broker, it helps to know the two different agency structures and how they operate. Lexington agents are categorized either independent agents or exclusive agents.

Exclusive Insurance Agents

Exclusive agents can only quote rates from one company like American Family, State Farm, and Allstate. They generally cannot place coverage with different providers so if the price isn't competitive there isn't much they can do. Exclusive agents receive extensive training in insurance sales which helps overcome the inability to quote other rates.

Independent Agents (or Brokers)

Independent agents can sell policies from many different companies so they can quote policies with lots of companies and potentially find a lower price. If premiums increase, your policy is moved internally and the insured can keep the same agent. When comparing car insurance rates, you should always contact several independent agencies for the best price selection.

Once you have good answers to your questions as well as a affordable price, you've probably found an auto insurance agent that meets the requirements to adequately provide car insurance. Just be aware that you are able to cancel a policy at any time so don't assume you are locked into your new company for the entire policy term.

Parts of your insurance policy

Having a good grasp of your insurance policy can help you determine the right coverages at the best deductibles and correct limits. Insurance terms can be impossible to understand and reading a policy is terribly boring. Below you'll find typical coverages found on most insurance policies.

Collision insurance

This coverage covers damage to your vehicle from colliding with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage protects against things such as scraping a guard rail, colliding with another moving vehicle, sideswiping another vehicle and crashing into a building. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from lower value vehicles. It's also possible to raise the deductible to get cheaper collision coverage.

Lowest and Highest Collision Insurance Claims by Vehicle Model
Lowest Claim Amount Highest Claim Amount
Chevrolet Colorado Bently Continental GT
Ford F-250 SuperCab Bentley Continental Flying Spur
Ford Edge Maserati Granturismo
Smart ForTwo Nissan GT-R
Nissan Xterra Bently Continental GTC
Mini Cooper BMW 6 Series

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Liability insurance

This coverage can cover injuries or damage you cause to a person or their property that is your fault. Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 30/60/25 which stand for a limit of $30,000 per injured person, a limit of $60,000 in injury protection per accident, and property damage coverage for $25,000.

Liability can pay for things such as court costs, funeral expenses, medical expenses, loss of income and pain and suffering. How much liability coverage do you need? That is up to you, but you should buy higher limits if possible. North Carolina requires minimum liability limits of 30/60/25 but drivers should carry more coverage.

Lowest and Highest Bodily Injury Liability Claims by Vehicle Make and Model
Lowest Claim Amount Highest Claim Amount
Mercedes-Benz SL Class Mitsubishi Mirage
Fiat 500 Chrysler 200
Acura MDX Kia Optima
Volvo XC60 Chevrolet Sonic
Subaru Forester Dodge Charger
Audi A6 Hyndai Accent

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Uninsured Motorist or Underinsured Motorist insurance

This protects you and your vehicle from other drivers when they either have no liability insurance or not enough. Covered claims include injuries to you and your family as well as damage to your vehicle.

Due to the fact that many North Carolina drivers only purchase the least amount of liability that is required (which is 30/60/25), their limits can quickly be used up. So UM/UIM coverage should not be overlooked.

Insurance for medical payments

Personal Injury Protection (PIP) and medical payments coverage provide coverage for expenses for things like rehabilitation expenses, nursing services, prosthetic devices and X-ray expenses. The coverages can be used to fill the gap from your health insurance policy or if you do not have health coverage. They cover all vehicle occupants and also covers being hit by a car walking across the street. PIP is not an option in every state but can be used in place of medical payments coverage

Medical Payment Coverage Claims by Vehicle
Lowest Claim Amount Highest Claim Amount
Land Rover Range Rover Sport Mitsubishi Mirage
Ford F-350 SuperCrew Mitsubishi Lancer
Chevrolet Silverado 2500 Nissan Sentra
Tesla Model S Dodge Charger
Chevrolet Silverado 3500 Kia Forte
Ford F-250 SuperCrew Nissan Versa

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Comprehensive coverage (or Other than Collision)

Comprehensive insurance will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims like falling objects, hail damage, hitting a deer and a broken windshield. The most a insurance company will pay at claim time is the actual cash value, so if the vehicle's value is low consider dropping full coverage.

Comprehensive Coverage Claims by Vehicle Make and Model
Lowest Claim Amount Highest Claim Amount
Chevy Silverado 2500 BMW M6
Chevy Spark BMW M6
Nissan Leaf Bentley Continental GTC
GMC Sierra 2500 Mercedes-Benz S Class
Volvo V60 Porsche Panamera GTS
Smart ForTwo Audi S7

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Do the work, save more money

We just covered quite a bit of information on how to lower your car insurance auto insurance rates in Lexington. The key concept to understand is the more rate comparisons you have, the better your comparison will be. You may even discover the best price on car insurance is with an unexpected company. Smaller companies may cover specific market segments cheaper as compared to the big name companies such as GEICO and State Farm.

While you're price shopping online, make sure you don't buy less coverage just to save a little money. There are a lot of situations where an insured dropped liability limits or collision coverage and learned later that it was a big error on their part. Your objective should be to get the best coverage possible for the lowest cost, not the least amount of coverage.

Cheaper car insurance in Lexington is available on the web and from local insurance agents, and you should be comparing both to have the best chance of lowering rates. Some companies may not offer rate quotes online and many times these smaller providers work with independent insurance agents.

Additional detailed information can be found by following these links: