Amazingly, a recent NerdWallet.com study showed that most car insurance policyholders in North Carolina have bought car insurance from the same company for at least the last four years, and approximately 38% of consumers have never quoted car insurance rates at all. With the average car insurance premium being $1,847, American drivers can save hundreds of dollars each year, but they just don’t understand the benefits if they swap their current policy for a cheaper one.
The preferred way to find low-cost car insurance rates in Raleigh is to make a habit of regularly comparing prices from different companies in North Carolina.
- Try to understand how insurance works and the changes you can make to lower rates. Many factors that result in higher prices such as accidents, traffic violations, and poor credit history can be remedied by paying attention to minor details.
- Quote rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can provide rates from a single company like Progressive or Allstate, while independent agents can quote rates from multiple insurance companies.
- Compare the price quotes to the premium of your current policy to see if a cheaper price is available. If you find a lower rate quote and decide to switch, make sure there is no coverage gap between policies.
- Give notification to your agent or company of your intention to cancel your current car insurance policy and submit the completed application along with a down payment to the new company. As soon as coverage is bound, safely store the certificate of insurance with your vehicle’s registration.
The most important part of shopping around is that you use the same deductibles and limits on each quote and and to get prices from as many companies as you can. Doing this ensures an accurate price comparison and the best price selection.
Our objective in writing this article is to tell you the best way to buy inexpensive insurance and some tricks to saving. If you have coverage now, you will definitely be able to reduce premiums using this strategy. Nevertheless, North Carolina vehicle owners must know the way companies price insurance differently because rates are impacted by many factors.
Do you qualify for discounts?
Companies that sell car insurance do not advertise all discounts in an easy-to-find place, so the next list breaks down both well-publicized as well as some of the hidden credits that may apply to you.
- Early Signing – A few larger companies allow discounts for renewing your policy before your current coverage expires. Ten percent is about the average savings.
- Student Discount for Driver Training – It’s a good idea to have your young drivers successfully take a driver’s education course if it’s offered in school.
- Raleigh Homeowners Pay Less – Just being a homeowner can get you a discount because maintaining a house demonstrates responsibility.
- Payment Discounts – If you pay your bill all at once as opposed to paying monthly you could save up to 5%.
- Theft Deterrent Discount – Anti-theft and alarm system equipped vehicles are less likely to be stolen so companies will give you a small discount.
- Defensive Driver – Passing a driver safety course could earn you a small percentage discount and easily recoup the cost of the course.
- Safety Restraint Discount – Drivers who require all vehicle occupants to buckle up before driving can save a little on the medical payments or PIP coverage costs.
- Paper-free Discount – A few larger online companies will give you a small discount simply for signing on your computer.
As a sidenote, most discounts do not apply to the entire policy premium. Most only cut specific coverage prices like comp or med pay. Even though it may seem like it’s possible to get free car insurance, nobody gets a free ride.
To choose providers who offer insurance discounts in Raleigh, click here to view.
The most recommended method to get policy rate comparisons for Ford GT insurance in Raleigh is to know most larger insurance companies actually pay money for the chance to quote your coverage. The one thing you need to do is provide a little information such as the make and model of your vehicles, if you have an active license, how much coverage you want, and whether you are single or married. That rating information is automatically sent to insurance carriers in your area and they provide comparison quotes immediately.
To get price quotes for your car now, click here and see if a lower rate is available in Raleigh.
The companies shown below can provide free rate quotes in Raleigh, NC. To buy cheap auto insurance in North Carolina, it’s a good idea that you click on several of them in order to find the cheapest rates.
Components of Your Ford GT Insurance Premiums
An important part of buying insurance is that you know the rating factors that help determine your premiums. If you understand what determines premiums, this empowers consumers to make smart changes that could result in better car insurance rates. Many different elements are taken into consideration when you quote your car insurance policy. Some are pretty understandable like your driving record, although others are less apparent such as your marital status or your financial responsibility.
The itemized list below are some of the most common factors companies use to determine your prices.
- Gender matters – Statistics demonstrate that females take fewer risks when driving. This data doesn’t prove that men are worse drivers. They both cause at-fault accidents at about the same rate, but men have costlier accidents. Not only that, but men also have more aggressive citations like DWI (DUI) or reckless driving.
- Liability coverage is important – A critical coverage on your policy, liability insurance is the protection if ever a court rules you are at fault for an accident. It provides legal defense which can be incredibly expensive. This coverage is very inexpensive compared to comp and collision, so drivers should buy more than the minimum limits required by law.
- Getting married reduces risk – Walking down the aisle may earn you lower rates on car insurance. Having a significant other is viewed as being more stable financially it has been statistically shown that married drivers tend to file fewer claims.
- Teen vs. experienced drivers – Mature drivers have been proven to be more responsible, cost insurance companies less in claims, and get fewer tickets. Drivers with little experience are known to get distracted easily when driving therefore car insurance rates are much higher.
- Better prices on safer cars – Safer cars tend to be cheaper to insure. Highly rated vehicles protect occupants better and lower rates of occupant injuries means your insurance company pays less and cheaper rates on your policy. If your Ford scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it is probably cheaper to insure.
Do I just need basic coverages?
Always keep in mind that when comparing adequate coverage for your vehicles, there really is no one-size-fits-all type of policy. Your needs are not the same as everyone else’s.
These are some specific questions might point out if your situation might need professional guidance.
- What does roadside assistance cover?
- Am I covered when driving in Canada or Mexico?
- Should I bundle my homeowners policy with my auto?
- Do I need more liability coverage?
- Does my personal policy cover me when driving out-of-state?
- Is my ex-spouse still covered by my policy?
- Am I covered when delivering products for my home-based business?
- Is my teen driver covered when they drive my company car?
- Do they offer discounts for home and auto coverage?
- Can I rent a car in Mexico?
If you can’t answer these questions but a few of them apply, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, simply complete this short form.
When to talk to an insurance agency
Certain consumers would rather go talk to an agent and that is just fine! The best thing about price shopping on the web is that you can find better rates and still choose a local agent. Buying insurance from local agencies is important particularly in Raleigh.
For easy comparison, once you complete this quick form, your insurance coverage information is instantly submitted to companies in Raleigh who will return price quotes for your insurance coverage. There is no need to find an agent on your own because prices are sent straight to your inbox. You can find lower rates AND an agent nearby. In the event you want to get a comparison quote for a specific company, you can always go to their quote page and fill out the quote form the provide.
If you prefer to buy insurance from local Raleigh agents, you need to know there are two types of agencies and how they can write your policy. Raleigh agents can be categorized as either exclusive or independent (non-exclusive).
Independent Insurance Agencies or Brokers
Agents in the independent channel can quote rates with many companies and that gives them the ability to insure with an assortment of companies and find the cheapest rate. If prices rise, they can switch companies in-house and you don’t have to do anything. When comparing rate quotes, it’s recommended you contact at least one independent agent to have the best price comparison.
Listed below is a small list of independent agencies in Raleigh that can possibly get you free rate quotes.
Exclusive Insurance Agencies
Agents in the exclusive channel can usually just insure with one company such as Allstate and State Farm. These agents are not able to place coverage with different providers so they are skilled at selling on more than just price. Exclusive agencies are well schooled on their company’s products which can be an advantage.
The following are Raleigh exclusive agencies that can give you price quotes.
Finding a good auto insurance agent needs to be determined by more than just a low price. These questions are important to ask:
- Will the company cover a rental car if your car is getting fixed?
- Is every driver in your family covered?
- Do they prorate repair cost based on vehicle mileage?
- Does the agent recommend any additional coverage?
- Does the agency have a positive business rating?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
Three main reasons to buy insurance
Despite the high cost of buying insurance for a Ford GT in Raleigh, maintaining insurance may be required and benefits you in several ways.
- The majority of states have minimum liability requirements which means it is punishable by state law to not carry a minimum amount of liability protection in order to license the vehicle. 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 have a loan on your Ford GT, most lenders will require that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the lender may have to buy a policy to insure your Ford at a more expensive rate and require you to pay the higher price.
- Insurance protects both your car and your personal assets. Insurance will also pay for all forms of medical expenses for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, will also pay for a defense attorney if someone files suit against you as the result of an accident. If damage is caused by hail or an accident, comprehensive and/or collision insurance will pay to restore your vehicle to like-new condition.
The benefits of carrying adequate insurance outweigh the cost, especially with large liability claims. But the average driver in North Carolina is overpaying over $820 a year so it’s important to compare rates once a year at a minimum to ensure rates are competitive.
Don’t give up on affordable coverage
When buying insurance coverage, don’t be tempted to reduce needed coverages to save money. There are many occasions where an insured cut comprehensive coverage or liability limits only to discover later they didn’t purchase enough coverage. Your objective should be to get the best coverage possible at the best cost and still be able to protect your assets.
Consumers who switch companies do it for any number of reasons including extreme rates for teen drivers, delays in responding to claim requests, policy non-renewal and delays in paying claims. It doesn’t matter what your reason, finding a new company is less work than it seems.
More affordable insurance in Raleigh can be found both online and also from your neighborhood Raleigh agents, and you should compare price quotes from both to have the best selection. There are still a few companies who don’t offer internet price quotes and usually these regional insurance providers prefer to sell through local independent agents.
More detailed insurance information is available in these articles:
- Can I Drive Legally without Insurance? (Insurance Information Institute)
- Who Has Cheap Raleigh Auto Insurance Rates for Welfare Recipients? (FAQ)
- What Insurance is Cheapest for Business Use in Raleigh? (FAQ)
- Who Has Cheap Raleigh Auto Insurance for Seniors? (FAQ)
- Who Has Cheap Auto Insurance Rates for Drivers Under 21 in Raleigh? (FAQ)
- Prom Night Tips for Teen Drivers (State Farm)
- Side Impact Crash Tests (iihs.org)