Save on Jeep Compass Insurance in Durham

Insurance rates Jeep Compass in DurhamTo save the most money, the best way to get affordable auto insurance rates in Durham is to compare quotes once a year from insurers in North Carolina. Price quotes can be compared by completing these steps.

  1. Learn about how companies set rates and the modifications you can make to keep rates low. Many risk factors that increase rates such as getting speeding tickets and a poor credit score can be improved by making minor changes in your lifestyle. Continue reading for ideas to get cheaper rates and get additional discounts that may be available.
  2. Obtain price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only provide price estimates from one company like GEICO and Allstate, while independent agents can provide price quotes from multiple companies.
  3. Compare the new quotes to the price on your current policy and determine if cheaper Compass coverage is available in Durham. If you can save money and switch companies, make sure there is no lapse between the expiration of your current policy and the new one.

An important note is to make sure you’re comparing the same liability limits and deductibles on each quote and to quote with as many different companies as possible. This guarantees the most accurate price comparison and the most accurate and complete price analysis.

It’s easy to assume that car insurance companies don’t want you quoting rates from other companies. People who shop for lower rates will most likely move their business because of the high probability of finding coverage at a more affordable price. A survey found that people who faithfully checked for cheaper rates saved about $3,400 over four years as compared to drivers who didn’t regularly shop around.

If finding the best rates on car insurance in Durham is why you’re reading this, then having some insight into how to quote and compare cheaper coverage can make it easier to find better rates.

How You Can Control Jeep Compass Insurance Premiums

Lots of things are part of the equation when you quote your car insurance policy. Some factors are common sense such as your driving history, but other factors are not quite as obvious such as whether you are married or your commute time.

Listed below are some of the things utilized by car insurance companies to help set premiums.

Lower deductibles cost more – Comp and collision deductibles tell how much you are willing to pay out-of-pocket if you file a covered claim. Physical damage insurance, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Some examples of covered claims are a windshield broken by a bird, vandalism, and having a roll-over accident. The more expense you have to pay, the lower your rates will be.

Add-on coverages can add up – Insurance companies have many optional add-on coverages you can purchase if you aren’t careful. Coverages like rental car coverage, towing coverage, and extra life insurance coverage may be wasting your money. These may sound like a good investment when deciding what coverages you need, but your needs may have changed so eliminate the coverages to reduce your premium.

Bundle and save – Many companies allow discounts for people who have multiple policies with them, otherwise known as a multi-policy discount. This can amount to 10 percent or more. Even though this discount sounds good, you may still want to compare other Durham Compass insurance rates to make sure you are getting the best deal.

City dwellers may pay more – Being located in less populated areas of the country is a good thing when insuring your vehicles. Urban drivers have to deal with congested traffic and higher rates of accident claims. Fewer drivers on the road translates into fewer accidents in addition to lower liability claims.

Jeep Compass historical loss data – Insurers analyze claim trends for every vehicle to calculate a price that offsets possible losses. Vehicles that statistically have higher loss trends will have higher premium rates. The next table shows the compiled insurance loss statistics for Jeep Compass vehicles.

For each insurance policy coverage type, the statistical loss for all vehicles averaged together is represented as 100. Values that are under 100 suggest a positive loss record, while percentages above 100 indicate a higher chance of having a claim or an increased probability of a larger loss.

Insurance Loss Ratings for Jeep Compass Vehicles
Specific Jeep Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Jeep Compass 4dr 2WD 87 135 58 128 124 142
Jeep Compass 4dr 4WD 76 114 63 99 107 106

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

Rates and statistics

The premium table displayed below covers different policy rates for Jeep Compass models. Understanding more about how insurance policy rates are calculated can be of help when making decisions on the best policy to buy.

Jeep Compass Insurance Rates in Durham, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Compass Sport 2WD $186 $318 $250 $14 $74 $842 $70
Compass Sport 4WD $214 $386 $250 $14 $74 $938 $78
Compass Limited 2WD $214 $386 $250 $14 $74 $938 $78
Compass Limited 4WD $214 $386 $250 $14 $74 $938 $78
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, homeowner, and multi-policy. Rate information does not factor in specific location which can raise or lower auto insurance rates greatly.

Deductible comparison

When buying auto insurance, a common question is which comprehensive and collision deductibles to buy. The figures shown below illustrate how much more you’ll pay between low and high comp and collision deductibles. The first data set uses a $100 physical damage coverage deductible and the second rate table uses a $1,000 deductible.

Jeep Compass insurance premium estimates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Compass Sport 2WD $186 $318 $250 $14 $74 $867 $72
Compass Sport 4WD $214 $386 $250 $14 $74 $963 $80
Compass Limited 2WD $214 $386 $250 $14 $74 $963 $80
Compass Limited 4WD $214 $386 $250 $14 $74 $963 $80
Get Your Own Custom Quote Go

Jeep Compass insurance premium estimates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Compass Sport 2WD $104 $168 $250 $14 $74 $610 $51
Compass Sport 4WD $118 $204 $250 $14 $74 $660 $55
Compass Limited 2WD $118 $204 $250 $14 $74 $660 $55
Compass Limited 4WD $118 $204 $250 $14 $74 $660 $55
Get Your Own Custom Quote Go

Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Premium amounts do not factor in specific location information which can revise coverage rates noticeably.

Using the data above, we can ascertain that using a $100 deductible costs roughly $24 more each month or $288 for a full year across all Jeep Compass models than quoting the higher $1,000 deductible. Because you would be required to pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you normally go at a minimum 38 months between claims, you would probably come out ahead going with the higher deductible.

Rate difference between full and liability-only coverage

The information below visualizes the comparison of Jeep Compass premium costs when comparing full coverage to state minimum liability only. The prices are based on no accidents or driving violations, $250 deductibles, marital status is single, and no discounts are applied to the premium.

Guidelines for dropping full coverage

There is no definitive rule to stop buying full coverage, but there is a guideline you can consider. If the yearly cost for physical damage coverage is about 10% or more of the replacement cost minus the deductible, then it might be time to consider dropping full coverage.

For example, let’s pretend your Jeep Compass replacement cost is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $8,000 after you pay the deductible. If it’s costing you more than $800 a year for full coverage, then it might be time to buy liability only.

There are a few cases where dropping physical damage coverage is not recommended. If you still have a loan on your vehicle, you have to maintain full coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should not consider dropping full coverage.

Save money on Jeep Compass insurance in Durham with these discounts

Insuring your fleet can be pricey, but you may qualify for discounts to help offset the cost. Many of these discounts will be applied automatically at the time you complete a quote, but some may not be applied and must be asked about prior to getting the savings.Save money with discounts

You should keep in mind that most discount credits are not given to the entire cost. A few only apply to individual premiums such as liability and collision coverage. Despite the appearance that all the discounts add up to a free policy, that’s just not realistic.

The illustration below illustrates the difference between Jeep Compass car insurance rates with and without discounts being applied to the rates. The prices are based on a male driver, no claims, a clean driving record, North Carolina state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, multi-car, multi-policy, safe-driver, and marriage discounts applied.

If you would like to view insurers with discount insurance rates in Durham, click here to view.

Durham auto insurance companies

Finding the top auto insurance company can be a challenge considering how many different companies insure vehicles in Durham. The company information listed below can help you decide which car insurance providers to look at when looking for cheaper rates.

Top 10 Durham Car Insurance Companies Ranked by Customer Satisfaction

  1. USAA – 91%
  2. AAA Insurance – 90%
  3. Esurance – 90%
  4. Nationwide – 89%
  5. Travelers – 88%
  6. Progressive – 88%
  7. Safeco Insurance – 88%
  8. State Farm – 88%
  9. Allstate – 88%
  10. The Hartford – 87%

Find cheap auto insurance prices by comparing often

When you buy Durham auto insurance online, it’s very important that you do not skimp on coverage in order to save money. There are many occasions where an insured dropped collision coverage only to discover later that they should have had better coverage. The proper strategy is to purchase plenty of coverage for the lowest cost, not the least amount of coverage.

Budget-friendly auto insurance in Durham can be sourced online in addition to local insurance agencies, so you should compare both to have the best rate selection. Some auto insurance companies don’t offer the ability to get quotes online and these small insurance companies prefer to sell through independent insurance agencies.

We just presented many ideas to find cheap Jeep Compass insurance in Durham. It’s most important to understand that the more companies you get rates for, the higher the chance of saving money. You may even find the lowest prices come from some of the smallest insurance companies.

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