The type of vehicle you are seeking coverage for is a significant factor when trying to find low-priced insurance for veterans. Vehicles with high performance, poor crash test ratings, or a high likelihood of having liability claims will cost substantially more to insure than more economical and safe models. The table below ranks coverage prices for a selection of the cheaper automobiles to buy insurance for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$1,104|
|Ford Edge SE 2WD||$1,186|
|Chevrolet Impala LS||$1,252|
|Toyota RAV4 Limited 4WD||$1,278|
|Ford Escape XLT 2WD||$1,323|
|Honda Civic Hybrid 4-Dr Sedan||$1,368|
|Nissan Altima Hybrid 4-Dr Sedan||$1,373|
|Dodge Grand Caravan SE||$1,387|
|GMC Sierra 3500HD SLE Extended Cab 2WD||$1,394|
|Ford F-150 Lariat Crew Cab Platinum 4WD||$1,401|
|Toyota Camry Hybrid||$1,460|
|Jeep Grand Cherokee Laredo 4WD||$1,462|
|Chevrolet Malibu LS||$1,467|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$1,488|
|Chevrolet Silverado 2500HD LT Crew Cab 2WD||$1,528|
|Toyota Corolla XLE||$1,540|
|Toyota Camry SE||$1,549|
|Dodge Ram Crew Cab Laramie 4WD||$1,554|
|GMC Sierra 2500HD SLE Regular Cab 4WD||$1,569|
|Ford Fusion Sport 4-Dr Sedan||$1,579|
|Honda Odyssey Touring||$1,569|
|Nissan Rogue SL 2WD||$1,571|
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Cost estimates assume single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Prices do not factor in specific zip code location which can raise or lower coverage rates significantly.
Looking at the data, you can assume that makes and models like the Honda CR-V, Ford Edge, and Chevrolet Impala will be some of the more affordable vehicles to insure for veterans.
For veterans, one of the more important considerations that are looked at to help calculate the annual cost of car insurance is where you live in Durham. Regions with more people or even just more weather-related claims likely pay more, whereas more rural areas benefit from having to pay less for coverage.
The illustration below lists the most expensive areas in North Carolina for veterans to buy an auto insurance policy in. Durham shows up at #5 with an annual cost of $773 for coverage, which is approximately $64 monthly.
|Rank||City||Average Per Year|
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Rate information is approximated as specific Durham zip code can raise or lower price quotes substantially.
Buying coverage from a high-quality auto insurance company is difficult considering how many choices there are in Durham. The company ratings displayed below can help you choose which auto insurers to look at when shopping your coverage around. The ratings below include companies who write in the majority of U.S. states, so companies that only write business in North Carolina or surrounding areas are not factored into this list.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Liability rates compared to full coverage
Finding the cheapest insurance should be important to the majority of vehicle owners, and one easy way to pay lower rates for insurance for veterans is to buy liability only. The diagram below visualizes the comparison of insurance premiums with and without physical damage coverage. The costs are based on no accidents, no driving violations, $100 deductibles, drivers are single, and no discounts are factored in.
If the expense is averaged for all age categories, comp and collision coverage costs $1,918 per year more than buying just liability insurance. That amount may make you wonder if buying full coverage is a waste of money. There is no specific rule to eliminate full coverage on your policy, but there is a general guideline you can use. If the annual cost of having full coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.
There are some circumstances where removing full coverage is not financially feasible. If you still have a loan on your vehicle, you have to maintain full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should keep full coverage on your policy.
Don’t stick with an overpriced policy
Durham, NC insurance rates are based on many factors that will increase or decrease the price you have to pay for coverage. Turning one year older, marrying your spouse, or having an at-fault accident can trigger changes in premium that can make some companies more affordable than others.
Not only may things change on your end, but car insurance companies amend premium rates multiple times each year in order to be able to pay unexpected claims. An extended period of higher than normal claims can result in higher prices, while profitable underwriting may produce lower-cost Durham car insurance rates.
To illustrate this example, the graph below shows the companies that have the cheapest car insurance in Durham, NC for a 40-year-old female driver with a good driving record, no prior claims, and a good credit history. Based on her current risk factors, Utica National might quote the best car insurance rates in Durham at $773 each year. This is $99 less than the average rate paid by North Carolina drivers of $872. Progressive, Liberty Mutual, GEICO, and NC Farm Bureau are also on the list of the cheapest Durham, NC auto insurance companies.
The next chart shows rates after we give the driver from the first set of rates an accident surcharge, a lower credit score, and a speeding citation. Because each insurer has a unique formula for determining prices, comparing quotes may now result in a different set of the cheapest car insurance companies in Durham as shown below.
State Farm now has the lowest car insurance rate in Durham with Titan, Auto-Owners, National General, and Allied completing the list. This shows why it is important to do a thorough rate comparison when trying to get the most affordable insurance rates for veterans. Insurance rates can be altered by many different factors and change substantially, so the most affordable company two years ago may now be quite expensive.
Tips for buying budget-friendly auto insurance for veterans
It is possible to find better rates, and here are a few money-saving ideas that can help North Carolina drivers quote cheap coverage.
- Clean up your credit rating
- Raise comprehensive and collision coverage deductibles
- Safer vehicles generally have cheaper insurance rates
- On older vehicles, drop full coverage
- Save money by observing traffic laws and speed limits
- Do not get into accidents
- Compare rate quotes often
That last tip is extraordinarily vital, as we noted in this piece. Prices charged by auto insurers in Durham go up and down frequently, so you should be ready to buy from a new company if you can save money. Having a favorite company is fine, but it isn’t a good idea if it’s costing you hundreds every year. Now is a great time to compare prices and find cheaper car insurance for veterans.
The insurance agencies below can probably help you determine which auto insurance policy would work best for you, since some people have coverage questions and would like to get some professional input when trying to find the best insurance rates for veterans. It’s not always simple to find the cheapest rate yourself, and getting professional guidance from a licensed agent can give peace of mind knowing your policy gives you decent coverage if you have a claim.
To locate a Durham auto insurance agent close to you, click the button at the bottom of the list or click here to compare price quotes now.
Hix Insurance Center
1533 Glenn School Road, Building C Unit A-14 – Durham, NC 27704 – (919) 220-3031
Debbie Leonard – State Farm Insurance Agent
3702 Hillsborough Rd #2b – Durham, NC 27705 – (919) 383-3887
Nationwide Insurance: Andrew F Jones
5242 Roxboro Rd Ste C – Durham, NC 27712 – (919) 477-7666
Triangle Insurance Alliance
2530 Meridian Pkwy #300 – Durham, NC 27713 – (919) 322-3640
Allstate Insurance Agent: Ella Latreille
2005 N Pointe Dr Ste 3 – Durham, NC 27705 – (919) 479-2077