Have you had enough of trying to scrape together enough money to insure your vehicles every month? Your situation is no different than the majority of other car owners in North Carolina. Lots of auto insurance companies contend for your insurance dollar, and it can be difficult to compare rates and get the best coverage at the lowest price
Discounts are basically free money
Auto insurance companies do not list every available discount very clearly, so we researched some of the best known as well as the least known ways to save on auto insurance. If you’re not getting every credit you deserve, you’re just leaving money on the table.
- Own a Home – Simply owning a home can help you save on auto insurance because of the fact that having a home shows financial diligence.
- Military Rewards – Having a family member in the military may qualify for rate reductions.
- Seat Belts Save more than Lives – Requiring all passengers to buckle their seat belts could cut 10% or more off your medical payments premium.
- Senior Discount – Mature drivers may receive better auto insurance rates.
- Life Insurance Discount – Companies who offer life insurance give better rates if you take out auto and life insurance together.
- Theft Prevention System – Anti-theft and alarm systems can help prevent theft and qualify for as much as a 10% discount.
- Multiple Vehicles – Buying insurance for multiple vehicles with the same company could earn a price break for each car.
- Payment Discounts – If paying your policy premium upfront instead of paying each month you could save 5% or more.
Consumers should know that most of the big mark downs will not be given to the entire cost. A few only apply to the price of certain insurance coverages like comp or med pay. So when it seems like you would end up receiving a 100% discount, companies wouldn’t make money that way.
For a list of insurers offering auto insurance discounts in North Carolina, click here to view.
Understand what determines the rate you pay
It’s important that you understand some of the elements that play a part in calculating the price you pay for auto insurance. Knowing what influences your rates enables informed choices that could result in better auto insurance rates.
- You might want pay the small claims yourself – Insurance companies in North Carolina give discounts to drivers who file claims infrequently. If you are a frequent claim filer, you can definitely plan on higher rates. Car insurance is designed for major claims that would cause financial hardship.
- High credit ratings translate to low rates – A driver’s credit rating is a large factor in calculating your auto insurance rates. People with good credit tend to be more responsible than drivers who have lower credit scores. If your credit history can use some improvement, you could be paying less to insure your by improving your credit score.
- What are your deductibles? – Physical damage coverage, termed comprehensive and collision coverage on your policy, protects your car from damage. A few examples of covered claims are colliding with a building, vandalism, and burglary. Physical damage deductibles are the amount of money you are willing to pay out-of-pocket in the event of a claim. The more you have to pay, the less your company will charge you for insurance.
- Performance influences rates – The make and model of the vehicle you drive makes a significant difference in the rate you pay. The most favorable rates tend to be for small economy passenger cars, but other factors influence the final cost greatly.
- Lower rates with optional equipment – Choosing a vehicle that has an advanced theft prevention system can help bring down rates. Theft prevention features like GM’s OnStar, tamper alarm systems and vehicle immobilizers can thwart car theft.
- Never allow your policy to lapse – Having an insurance coverage lapse is a sure-fire way to increase your auto insurance rates. Not only will rates go up, getting caught without coverage may earn you a license revocation or jail time.
- Little extras can really add up – There are many extra coverages that can waste your money when buying auto insurance. Coverages like roadside assistance, accident forgiveness and term life insurance may be wasting your money. They may seem like a good idea at first, but if they’re wasting money get rid of them and save.
It’s not one size fits all
When it comes to choosing coverage for your personal vehicles, there isn’t really a cookie cutter policy. Everyone’s situation is unique so your insurance needs to address that. For example, these questions can help discover if your situation might need an agent’s assistance.
- Should I sign the liability waiver when renting a car?
- Can I still get insurance after a DUI?
- Should I drop comprehensive coverage on older vehicles?
- Does coverage extend to a rental car in a foreign country?
- Can I afford to pay high deductible claims out of pocket?
- Will my vehicle be repaired with OEM or aftermarket parts?
- Are there companies who specialize in insuring high-risk drivers?
- Do I have coverage when pulling a U-Haul trailer?
- What are North Carolina no-fault laws?
If you can’t answer these questions but a few of them apply, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It only takes a few minutes and you can get the answers you need.
Comparing rates from local agents
A small number of people would rather talk to a local agent and that is just fine! Professional agents can point out coverage gaps and help in the event of a claim. One of the great benefits of comparing insurance prices online is you may find lower rates but still work with a licensed agent.
By using this quick form, the coverage information is submitted to local insurance agents who will give you bids to get your business. There is no reason to even leave your home because quoted prices will be sent directly to your email. Now that’s easy!
Picking an insurance company should depend on more than just the price. Agents should be asked these questions:
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- Do they carry Errors and Omissions coverage?
- How much can you save by raising your physical damage deductibles?
- Are they properly licensed to sell insurance in North Carolina?
- Do they assist clients in filing claims?
If you want to select a specific agent in Goldsboro, view this link.
Once you have good answers to your questions and a good coverage price, it’s possible that you found a company that meets your needs to properly insure your vehicles.
More North Carolina auto insurance resources
More detailed North Carolina auto insurance information is available at the North Carolina Department of Insurance website. Visitors are able to file complaints about a company, read consumer alerts, and discover disciplinary actions.
Additional helpful sites include these car insurance answers and this page where you can research Goldsboro insurance agents.
The best insurance company isn’t always the cheapest
When buying insurance coverage, do not buy less coverage just to save a little money. Too many times, consumers will sacrifice uninsured motorist or liability limits only to find out they didn’t purchase enough coverage. The aim is to purchase plenty of coverage for the lowest price, not the least amount of coverage.
The cheapest auto insurance can be bought both online in addition to many Goldsboro insurance agents, and you should be comparing both in order to have the best price selection to choose from. A few companies do not provide you the ability to get quotes online and these small insurance companies work with independent agents.