10 Money Saving Ideas Shown to Slash the Cost of Auto Insurance Costs in Durham, NC

Did you fall for a flashy sales pitch and buy an overpriced auto insurance policy? Trust us, there are a lot of people in Durham just like you who feel imprisoned by their auto insurance policy.

There is such a variety of car insurance companies to choose from, and although it’s a good thing to have multiple companies, too many choices makes it more difficult to compare company pricing.

It’s smart to price shop coverage before your policy renews because insurance rates are constantly changing. Even if you got the best rates on your last policy you may be paying too much now. Forget all the misinformation about auto insurance because you’re about to find out the things you must know in order to reduce your cost while improving coverage.

Comprehensive Durham Auto Insurance Comparison Quotes

All major auto insurance companies provide prices directly from their websites. This process doesn’t take much effort as you just type in your required coverages as detailed in the form. When the form is submitted, the company’s rating system collects your driving and credit reports and gives you a price quote based on these and other factors. Online price quotes streamlines rate comparisons, but the time it takes to visit different websites and complete many quote forms can be a bit repetitive. Unfortunately, it is important to do this if you are searching for the best price on auto insurance.

The better way to compare rates

The preferred way to get multiple rate quotes utilizes a single form that gets price quotes from many companies. It’s a real time-saver, reduces the work, and makes online quotes much easier. After sending your information, it is rated and you can select any one of the quotes that you receive. If you find a better price it’s easy to complete the application and buy the new coverage. The whole process takes just a few minutes to complete and can result in significant savings.

To find out what other companies charge, click here to open in new window and input your coverage information. If you have coverage now, it’s recommended that you enter your coverages exactly as they are listed on your policy. Doing this guarantees you will have a rate comparison for the exact same coverage.

These ten discounts can lower your rates

Companies that sell car insurance don’t always publicize all available discounts in an easy-to-find place, so here is a list some of the more common and also the lesser-known auto insurance savings.

  • Discount for Life Insurance – Select insurance companies reward you with a break if you buy a life insurance policy as well.
  • Multiple Cars – Having all your vehicles on the same auto insurance policy could earn a price break for each car.
  • Seat Belt Usage – Requiring all passengers to wear their seat belts can save 10% or more off your PIP or medical payments premium.
  • No Accidents – Drivers who don’t have accidents pay much less when compared to drivers who are more careless.
  • Resident Student – Children who attend school more than 100 miles from home without a vehicle on campus can receive lower rates.
  • E-sign – Some insurance companies will give a small break for buying a policy and signing up on their website.
  • Safety Course Discount – Completing a course teaching defensive driving skills can save you 5% or more if your company offers it.
  • Senior Citizens – If you’re over the age of 55, you can possibly qualify for a small decrease in premiums.
  • Discount for New Cars – Adding a new car to your policy can save up to 30% because new vehicles have to meet stringent safety requirements.
  • Driver’s Ed – Require your teen driver to take driver’s ed class if offered at their school.

A little note about advertised discounts, some of the credits will not apply to the overall cost of the policy. Most only apply to the cost of specific coverages such as liability, collision or medical payments. So when the math indicates adding up those discounts means a free policy, you won’t be that lucky.<img class="alignright" style="padding-top:15px;" src="https://www.findnewcarinsurance.com/wp-content/uploads/ci175-94.jpg" alt="North Carolina car insurance prices”/>

To see a list of providers who offer auto insurance discounts in Durham, click here to view.

More tips and info about auto insurance can be read at the North Carolina Department of Insurance website. Consumers can find a variety of consumer forms, download brochures, and find disaster information.

Auto insurance coverages and their meanings

Understanding the coverages of your auto insurance policy aids in choosing which coverages you need and proper limits and deductibles. Policy terminology can be impossible to understand and coverage can change by endorsement. Shown next are the normal coverages found on the average auto insurance policy.

Coverage for liability

This can cover damage or injury you incur to people or other property that is your fault. Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have liability limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property.

Liability can pay for claims like legal defense fees, pain and suffering, funeral expenses and medical services. How much liability coverage do you need? That is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford. North Carolina requires minimum liability limits of 30,000/60,000/25,000 but you should consider buying more coverage.

Collision coverage

Collision insurance pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things like driving through your garage door, crashing into a building, backing into a parked car, sideswiping another vehicle and crashing into a ditch. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. Another option is to choose a higher deductible to bring the cost down.

Comprehensive insurance

Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for things like rock chips in glass, hail damage, damage from flooding and a tree branch falling on your vehicle. The maximum payout a auto insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

North Carolina car insurance prices

Med pay and Personal Injury Protection (PIP)

Personal Injury Protection (PIP) and medical payments coverage provide coverage for expenses like nursing services, doctor visits, chiropractic care, surgery and pain medications. The coverages can be utilized in addition to your health insurance policy or if you do not have health coverage. They cover all vehicle occupants in addition to 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

Uninsured/Underinsured Motorist (UM/UIM)

This protects you and your vehicle when other motorists do not carry enough liability coverage. Covered losses include injuries to you and your family as well as damage to your vehicle.

Since a lot of drivers have only the minimum liability required by law (30/60/25 in North Carolina), it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Online plus local equals savings

Affordable auto insurance is definitely available on the web and also from your neighborhood Durham agents, and you should be comparing both to have the best selection. Some insurance companies may not provide online quoting and usually these regional insurance providers provide coverage only through local independent agents.

We just presented quite a bit of information on how to lower your auto insurance rates. The key thing to remember is the more price quotes you have, the better likelihood of reducing your rate. You may even find the best price on auto insurance is with a small local company. Some small companies often have lower prices on specific markets compared to the large companies like Allstate and Progressive.