The words “low-cost” and “insurance” really shouldn’t be used in the same sentence, especially when you are searching for the best price on coverage for infrequent drivers. To help control this cost, let’s get started by showing you a few of the factors that influence auto insurance premiums, and come up with some ways to reduce the price of your next policy.
The make and model of vehicle driven is one of the main factors when shopping around for affordable insurance for infrequent drivers. Vehicles with lots of horsepower, poor safety features, or an increased likelihood of liability claims will cost substantially more to insure than safer models.
The next list ranks coverage costs for the cheapest vehicles to insure in North Carolina.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX 2WD||$1,029|
|Honda Accord EX 4-Dr Sedan||$1,036|
|Ford Explorer XLT AWD||$1,153|
|Ford Escape XLS 2WD||$1,166|
|Ford F-150 Lariat Crew Cab 2WD||$1,244|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$1,256|
|Hyundai Elantra SE Touring Station Wagon||$1,260|
|Ford Edge Sport 2WD||$1,285|
|Chevrolet Impala LS||$1,308|
|Dodge Grand Caravan CV||$1,310|
|GMC Sierra SLE Extended Cab 4WD||$1,318|
|Ford Fusion SE 4-Dr Sedan||$1,310|
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Data rating is based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Price estimates do not factor in your specific Durham, NC location which can alter prices significantly.
Based upon the rates shown, we can presume that makes and models like the Honda CR-V, Honda Accord, Toyota Prius, Ford Explorer, and Ford Escape are going to be a few of the most budget-friendly vehicles to insure for low mileage drivers.
Establishing which companies offer the best car insurance rates for infrequent drivers involves a bit more work than just getting one or two price quotes. Each company uses a slightly different approach for determining rates, so let’s take a look at the most budget-friendly car insurance companies in North Carolina.
It’s a good idea to know that Durham, NC car insurance rates are determined by lots of factors which can substantially change the price you pay for coverage. Getting older, buying a home, or getting into an accident may generate price changes that may make certain companies more affordable than competitors.
Find the Cheapest Auto Insurance in North Carolina
|Rank||Company||Cost Per Year|
|3||NC Farm Bureau||$709|
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Utica National quotes some of the lowest car insurance rates in Durham at around $636 per year. Progressive, NC Farm Bureau, Liberty Mutual, and Penn National would also be considered some of the cheapest Durham, NC auto insurance companies.
As the rates illustrate above, if you currently buy coverage from Progressive and switched to Utica National, you could earn yearly savings of around $3. North Carolina drivers with NC Farm Bureau could save as much as $73 a year, and Liberty Mutual customers might reduce prices by as much as $85 a year.
These policy prices are averaged for all insureds and vehicles and and are not calculated with a specific vehicle garaging location for infrequent drivers. So the insurer that has the cheapest rates for you may not even be in the top 20 companies shown above. That underscores the importance of why you need to compare rates from as many companies as possible using your own specific driver information and vehicle.
For low mileage drivers, one of the largest considerations that are looked at to help calculate the cost of insurance is your zip code. Cities with larger populations tend to have more expensive auto insurance rates, whereas areas with lower vehicle theft rates and fewer weather claims have the enjoyment of a little cheaper coverage.
The next table shows the most expensive cities in North Carolina for infrequent drivers to buy car insurance in. Durham ranks #7 costing $773 for the average insurance policy, which is approximately $64 monthly.
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Information shown are estimated as vehicle location can increase or decrease coverage rates greatly.
Finding the top company can be a challenge considering how many different companies there are to choose from in North Carolina. The information shown next could help you analyze which car insurance companies to look at to insure your vehicles. The rankings below are for companies with a nationwide focus, so smaller companies that only insure vehicles in North Carolina will not be included in the list.
Top 10 Major Car Insurance Companies Overall in Durham
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
- American Family
Cost comparison with and without full coverage
Lowering the price of car insurance is probably important to the majority of vehicle owners, and one great way to buy cheaper insurance for infrequent drivers is to not buy comprehensive and collision coverage. The illustration below shows the difference between car insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in North Carolina. The data assumes a clean driving record, no at-fault accidents, $500 deductibles, single marital status, and no discounts are taken into consideration.
As an average for all age groups, full coverage on your policy costs an additional $1,573 per year more than just insuring for liability. Many of you may wonder if full coverage is worth the money. There is no exact formula for phasing out comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the annual cost of having full coverage is more than 10% of the settlement you would receive from your company, then you might want to think about dropping full coverage.
There are a few situations where removing full coverage is not in your best interest. If you have an outstanding loan on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.
Here’s why you should shop around
North Carolina car insurance rates are calculated based on many things which can substantially decrease or increase the policy price. Simply having another birthday, getting married, or having an at-fault accident may generate price changes that may make certain companies cheaper than others.
And not only may your rating factors change, but insurance companies change their prices as often as every three months in order to protect their financial rating. Heavy losses can cause rate increases, while a lower level of claims can produce lower-cost Durham car insurance rates.
For example, the data below analyzes the cheapest car insurance in Durham, NC for a 45-year-old male driver with a clear driving record, no claims, and good credit. When comparing rates based on his current rating profile, Progressive offers the lowest car insurance rates in Durham at $730 per year. This is $142 less than the average premium paid by North Carolina drivers of $872. Utica National, GEICO, Liberty Mutual, and NC Farm Bureau are also on the list of the cheapest Durham, NC auto insurance companies.
The example below compares rates after we give the driver from the first set of rates a couple of claims, a lower credit rating, and an imperfect driving record. Due to the fact that every auto insurer uses their own calculation for determining rates, comparing quotes may now present a different ranking of affordable Durham car insurance companies as shown below.
Titan now has the cheapest price in Durham, NC with State Farm, Auto-Owners, Allied, and Utica National now being in the top five. This example demonstrates why it is important to take the time to shop around to get affordable auto insurance rates for infrequent drivers.
Rates are determined by many factors and change substantially, so the cheapest company two years ago may now be an over-priced policy.
If you have coverage questions and would like to get some professional input when shopping for cheaper insurance for low mileage drivers, the agents below are willing to help you determine which car insurance policy is best.
To locate a Durham auto insurance agent closest to you, click the link at the bottom or click here to compare prices now.
Nationwide Insurance: Andrew F Jones
5242 Roxboro Rd Ste C – Durham, NC 27712 – (919) 477-7666
Bowen Agency, Inc.
4905 Pine Cone Dr Suite 5 – Durham, NC 27707 – (919) 929-4222
Reliable Insurance Agency of North Carolina Inc.
3325 Durham-Chapel Hill Blvd #200 – Durham, NC 27707 – (919) 864-9048
Antonio Vela – State Farm Insurance Agent
121 Sherron Rd #106 – Durham, NC 27703 – (919) 596-2700
How to find low-cost car insurance for infrequent drivers
The list below summarizes a few penny-pinching solutions that can help you find low-cost auto insurance.
- Raise deductibles
- Vehicles with safetly features generally cost less to insure
- Do not get traffic citations
- Do not get into accidents
- Pay cheaper rates with good credit scores
- Compare price quotes at least once a year
The last tip in the list is very significant, as we hit on in this article. Auto insurance prices vary greatly, so don’t be afraid to switch to a new company if a cheaper rate is available. We understand brand loyalty, but it isn’t a good idea if that loyalty ends up costing a fortune every year. It only takes a couple minutes to compare rates and find cheaper auto insurance for infrequent drivers in Durham.