The words “bargain” and “insurance” really shouldn’t be used in the same sentence, specifically when you are trying to find the cheapest auto insurance for low mileage drivers. To help control this cost, let’s take a look at some of the things that have an impact on insurance premiums, and find a way to take a little off the next policy you buy.
The type of vehicle you are buying coverage for is probably the largest consideration when quoting the best cheap insurance for low mileage drivers. Vehicles with average performance, an excellent safety record, or a positive history of liability claims will cost significantly less to insure than higher performance models.
The next table outlines car insurance prices for some of the cheapest automobiles to insure.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$1,105|
|Ford Escape XLS 2WD||$1,113|
|Dodge Grand Caravan CV||$1,239|
|Honda Accord LX-P 4-Dr Sedan||$1,268|
|Honda Odyssey EX||$1,280|
|Honda Civic DX 4-Dr Sedan||$1,290|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,292|
|Chevrolet Impala LT||$1,306|
|Hyundai Elantra SE 4-Dr Sedan||$1,375|
|Toyota Corolla S||$1,382|
|Ford Fusion SEL 4-Dr Sedan||$1,399|
|Jeep Wrangler Sport 4WD 2-Dr||$1,401|
|Ford F-150 XLT Super Cab 2WD||$1,420|
|Ford Explorer Eddie Bauer 2WD||$1,427|
|Toyota Camry Hybrid||$1,497|
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Prices above based on 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-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Premium costs do not factor in specific garaging location which can influence prices greatly.
Looking at the numbers, you can expect cars like the Honda CR-V, Ford Escape, Dodge Grand Caravan, and Honda Accord should be the most affordable vehicles to insure for infrequent drivers.
Comparing rates for budget auto insurance is difficult, and finding out which companies quote the lowest-priced auto insurance rates for low mileage drivers will involve additional perseverance. Every auto insurer has a proprietary formula to set policy rates, so first we will examine the auto insurance companies that tend to be cheaper in Durham.
It’s important to know that Durham, NC auto insurance rates are determined by lots of factors that control the policy price. That is why it is important to shop around to get the cheapest car insurance quotes for low mileage drivers. Car insurance prices consist of many different factors and can change substantially, so the cheapest rate the last time you checked may now be one of the more expensive options.
Find the Cheapest Auto Insurance in North Carolina
|Rank||Company||Cost Per Year|
|4||NC Farm Bureau||$716|
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Progressive may offer some of the cheapest car insurance rates in Durham at around $632 per year. Utica National, Liberty Mutual, NC Farm Bureau, and Penn National would also make the list of some of the lowest-priced Durham, NC car insurance companies.
In this example, if you have coverage with Utica National and switched to Progressive, you may see an annual premium reduction of roughly $23. Drivers with Liberty Mutual could save as much as $75 a year, and NC Farm Bureau customers might reduce rates by $84 a year.
Remember that these premium estimates are averaged across all types of drivers and the different vehicles they drive and do not factor in an exact location for low mileage drivers. So the car insurance company that is most affordable for your situation may not even be in the top 20 companies in the list above. That points out the importance of why you need to compare rates from multiple companies using your own personal information and vehicle type.
The illustration below shows how choosing a deductible can influence yearly insurance costs when researching cheap insurance for low mileage drivers. The data assumes a single female driver, comprehensive and collision coverage, and no discounts are factored in.
The chart above illustrates that a 30-year-old driver could lower rates by $226 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $340 by changing to a $1,000 deductible. Even younger insureds, like the age 20 example, can cut $502 or more just by using higher deductibles.
If you do raise deductibles, it will now be necessary to have enough spare savings to be able to cover the extra out-of-pocket expense that deters many people from opting for higher deductibles.
Buying coverage from the best auto insurance provider can be challenging considering how many companies there are in North Carolina. The company ratings listed below may help you choose which auto insurance companies you want to consider when looking for cheaper rates. These ratings are for companies with a national presence, so companies that focus mainly on North Carolina business are not included in the list.
Top 10 Large Auto Insurers in Durham Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- Titan Insurance
- AAA Insurance
Top 10 Large Auto Insurers in Durham Ranked by Value
- American Family
- AAA Insurance
- Safeco Insurance
- The Hartford
- The General
- 21st Century
- Titan Insurance
Why are you paying too much for car insurance?
North Carolina auto insurance rates are impacted by many factors that will increase or decrease the cost of your policy. Improving your credit rating, buying another vehicle, or getting a speeding ticket may prompt premium changes that can now make some companies more affordable than before. In addition, insurance companies file new rates as often as every three months in order to maintain liquidity for claims. Higher than usual claims can cause a rate increase, while long-term profits can produce lower-priced Durham car insurance rates.
To help illustrate this point, the graph below analyzes the cheapest car insurance in Durham, NC for a 45-year-old male driver with no accidents or violations, and good credit. If we estimate rates based on his current situation, Progressive has the most affordable car insurance rates in Durham at $755 a year. This is $117 less than the average rate paid by North Carolina drivers of $872. Utica National, Liberty Mutual, GEICO, and NC Farm Bureau are the remainder of the most affordable Durham, NC auto insurance companies.
In the next rate comparison, we’ll give the driver from the first example an accident surcharge, a little lower credit rating, and a few traffic violations. Because each insurer uses their own method for filing rates in each state, comparing insurance quotes may now present a substantially altered list of companies as shown below.
Penn National now has the lowest price on auto insurance in Durham, NC with State Farm, Auto-Owners, National General, and Allied now rounding out the top five. This illustrates why it is crucial to compare rates to get cheap insurance rates for low mileage drivers.
Rates are influenced by many risk factors and can change without notice, so the most economical company a year ago may now be one of the higher cost companies.
How to find budget-friendly insurance for low mileage drivers
Below you’ll find some of the better thrifty ideas that can help drivers find more affordable coverage.
- Do not get into accidents
- Buy a vehicle with excellent safety ratings
- Higher comprehensive and collision coverage deductibles will save money
- Higher credit scores can equal lower rates
- Assess whether full coverage is needed
- Be a cautious driver
- Compare prices frequently to find the best deal
The final tip is extremely vital, as was noted in this write-up. Prices charged by car insurance companies vary considerably, so drivers shouldn’t be reluctant to change insurance companies if a cheaper price is available.
Being loyal to a particular company is commendable, but it’s not a good idea if that loyalty results in overpaying a considerable chunk of change every month. In just a couple of minutes you could compare prices and find cheaper auto insurance for low mileage drivers in Durham.
If you like to get some help when comparing insurance rates for infrequent drivers, the insurance agencies below are a good start to help you determine which auto insurance policy fits you best.
To locate a Durham car insurance agency using an interactive map, click the button link following the list or click here to compare price quotes.
Andy Jones – State Farm Insurance Agent
4519 N Roxboro St – Durham, NC 27704 – (919) 477-0054
Herring and Bickers Insurance
2344 Operations Dr Suite 101 – Durham, NC 27705 – (919) 479-9900
Hix Insurance Center
1533 Glenn School Road, Building C Unit A-14 – Durham, NC 27704 – (919) 220-3031
The Sorgi Insurance Agency
16 Consultant Pl Suite 102 – Durham, NC 27707 – (919) 682-4814
Allstate Insurance Agent: Tae Kim
4837 Hwy Nc 55 10B – Durham, NC 27713 – (919) 560-9000