How to Save on Pontiac Vibe Insurance in Durham

Statistics show that a large majority of consumers have bought auto insurance from the same company for a minimum of four years, and approximately 40% of consumers have never compared rates with other companies. North Carolina consumers could pocket approximately 10% a year just by getting comparison quotes, but they feel it’s too difficult to compare rate quotes online.

If saving the most money is your goal, then the best way to find affordable Pontiac Vibe insurance in Durham is to compare prices at least once a year from different companies who provide car insurance in North Carolina.

• First, learn about car insurance and the steps you can take to prevent high rates. Many rating factors that result in higher rates such as speeding tickets, accidents and an unfavorable credit rating can be eliminated by being financially responsible and driving safely.
• Second, compare rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can provide rates from one company like GEICO and Allstate, while agents who are independent can provide prices from many different companies.
• Third, compare the new rate quotes to the price on your current policy to see if a cheaper rate is available. If you find a lower rate and make a switch, make sure there is no coverage gap between policies.

An important part of this process is that you use similar coverage information on each quote request and and to get price quotes from as many auto insurance providers as possible. Doing this provides a fair rate comparison and a complete selection of prices.

If you are paying for car insurance now, you will surely be able to save money using these tips. Locating the most cost-effective insurance policy in Durham is not that difficult. But North Carolina vehicle owners can benefit by having an understanding of how the larger insurance companies calculate your policy premium because it can help you find the best coverage.

Buy Durham Pontiac Vibe insurance online

It’s important to know that getting more free quotes helps locate the best price. Not every company allows you to get rate quotes online, so it’s recommended that you also compare rates from them as well.

The companies shown below can provide price comparisons in Durham, NC. If you want to find the cheapest auto insurance in North Carolina, we suggest you compare several of them to find the most competitive auto insurance rates.

Coverage information

The rate table shown next outlines different insurance policy prices for Pontiac Vibe models. Having a better understanding of how car insurance prices are figured is important to be able to make decisions when shopping around.

Data variables include married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, safe-driver, and claim-free. Premium costs do not factor in the specific area where the vehicle is garaged which can impact price quotes considerably.

Physical damage deductibles: Should you raise them?

When comparing auto insurance rates, the most common question is how high should the physical damage deductibles be. The comparison tables below highlight how much more you’ll pay between low and high insurance deductibles. The first rate quote example uses a $100 deductible for physical damage and the second set of rates uses a $500 deductible.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Rate quotes do not factor in garaging location in Durham which can modify premium rates considerably.

We can derive from the above data that using a $100 deductible costs approximately $18 more each month or $216 a year than requesting the higher $500 deductible. Due to the fact that you would have to pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you tend to have at a minimum 22 months between claims, you would probably be better off by going with a higher deductible.

The diagram below shows how choosing a deductible and can increase or decrease Pontiac Vibe premium costs for different age categories. The premiums assume a single male driver, comp and collision included, and no discounts are applied.

Comparison of full coverage and liability-only policies

The example below shows the comparison of Pontiac Vibe insurance rates with and without full coverage. The data assumes no claims or driving violations, $500 deductibles, single marital status, and no discounts are factored in.

Should you pay for full coverage?

There is no written rule of when to phase out physical damage coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.

For example, let’s say your Pontiac Vibe book value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled, you would only receive $4,000 after paying your deductible. If you are paying over $400 annually for your policy with full coverage, then you may want to consider only buying liability coverage.

There are some cases where only buying liability is not advised. If you haven’t paid off your loan, you are required to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should keep full coverage in place.

Auto insurance just makes sense

Despite the high cost, insuring your vehicle is required by state law in North Carolina and it also provides benefits you may not be aware of.

• Just about all states have mandatory liability insurance requirements which means you are required to carry specific minimum amounts of liability coverage in order to get the vehicle licensed. 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 took out a loan on your Pontiac Vibe, it’s guaranteed your bank will have a requirement that you buy insurance to protect their interest in the vehicle. If the policy lapses, the lender may have to buy a policy to insure your Pontiac at a much higher rate and require you to fork over a much higher amount than you were paying before.
• Auto insurance protects both your assets and your Pontiac. It will also pay for most medical and hospital costs for yourself as well as anyone injured by you. Liability coverage also covers legal expenses if anyone sues you for causing an accident. If you receive damage to your vehicle caused by a storm or accident, your policy will pay to restore your vehicle to like-new condition.

The benefits of buying enough insurance are definitely more than the cost, particularly if you ever have a claim. An average driver in America is wasting up to $869 every year so it’s very important to do a rate comparison once a year at a minimum to ensure rates are competitive.

Pontiac Vibe Insurance Rates Can Be Reduced

Lots of factors are part of the equation when you get your auto insurance bill. Some factors are common sense like an MVR report, but others are more transparent such as whether you are married or your commute time.

Coverage lapses lead to higher prices – Driving without insurance is a misdemeanor and you may have a hard time finding new coverage because you let your insurance coverage expire. In addition to paying higher premiums, the inability to provide proof of insurance may earn you fines or a revoked license.

Policy add-ons may be wasting money – There are many extra bells and whistles that you can buy if you aren’t diligent. Coverages like rental car coverage, death and dismemberment, and membership fees may be wasting your money. They may sound like good ideas at first, but your money might be better spent on other coverage so consider taking them off your policy.

Gender and insurance premiums – Over the last 30 years, statistics show women tend to be less risk to insure than men. Now that doesn’t mean women are better drivers. They both tend to get into auto accidents at a similar rate, but men tend to have more serious accidents. Not only are claims higher, but men get cited for more serious violations such as DWI and reckless driving. Teenage male drivers are the most expensive to insure and therefore pay the highest rates.

The diagram below compares Pontiac Vibe insurance prices for male and female drivers. The costs are based on no accidents or driving violations, comprehensive and collision coverage, $250 deductibles, drivers are not married, and no additional discounts are factored in.

Single drivers take more risk – Walking down the aisle may cut your premiums on auto insurance. Having a significant other demonstrates that you tend to be less irresponsible and it’s statistically proven that married couples file fewer claims.

More people means more accidents – Choosing to live in less populated areas can save you money when it comes to auto insurance. City drivers have to deal with more traffic problems and longer commutes to work. Fewer drivers on the road translates into fewer accident claims and lower theft and vandalism rates.

Do I just need basic coverages?

When selecting adequate coverage, there really is not a “best” method to buy coverage. Your situation is unique and your insurance should be unique as well.
Here are some questions about coverages that can aid in determining if you could use an agent’s help.

• Is my son or daughter covered when driving my car?
• What does medical payments coverage do?
• Do I really need UM/UIM coverage?
• Is borrowed equipment or tools covered if stolen or damaged?
• Does my policy cover me when driving someone else’s vehicle?
• Do I pay less for low miles?
• Is water damage covered by my policy?
• Is there a penalty for late payment?
• If my Pontiac Vibe is totaled, can I afford another vehicle?

If it’s difficult to answer those questions, then you may want to think about talking to an insurance agent. If you don’t have a local agent, take a second and complete this form or go to this page to view a list of companies.

Compare but don’t skimp

When getting Durham auto insurance quotes online, it’s a bad idea to reduce needed coverages to save money. There are many occasions where drivers have reduced liability limits or collision coverage and learned later that it was a big error on their part. The proper strategy is to purchase plenty of coverage for the lowest cost, but do not sacrifice coverage to save money.

We just presented a lot of ways to shop for Pontiac Vibe insurance online. The key concept to understand is the more price quotes you have, the better your chances of lowering your premium rates. You may even be surprised to find that the best auto insurance rates are with a company that doesn’t do a lot of advertising. Some small companies can often provide lower premium rates in certain areas as compared to the big name companies such as State Farm or Progressive.

Cheaper Pontiac Vibe insurance in Durham can be found from both online companies and from local agencies, and you need to price shop both in order to have the best price selection to choose from. Some companies do not offer rate quotes online and many times these smaller companies sell through independent agencies.

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