Compare Dodge Viper Insurance Rate Quotes in Durham

Insurance for Dodge ViperIt’s an obvious conclusion that car insurance companies don’t want their customers to go rate shopping. People who shop around once a year are very likely to switch to a new company because there is a good probability of finding a lower-priced policy. A recent survey found that consumers who made a habit of comparing rates saved as much as $72 a month compared to those who never compared rates.

If saving the most money on Dodge Viper insurance is the reason you’re here, then having some knowledge of how to get free comparison quotes and analyze coverages can help make the process easier.

If your goal is the lowest price, then the best way to get low-cost Dodge Viper insurance is to compare quotes annually from insurers who provide car insurance in Durham.

  1. Get an understanding of how your policy works and the things you can change to drop your rates. Many risk factors that cause rate increases like speeding tickets, accidents and your credit history can be improved by making minor changes to your lifestyle. Later in this article we will cover instructions to get better rates and find additional discounts.
  2. Request price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only quote rates from a single company like GEICO or State Farm, while agents who are independent can quote rates for a wide range of companies. Begin your rate comparison
  3. Compare the quotes to the premium of your current policy to see if you can save by switching companies. If you find a lower rate and buy the policy, make sure there is no coverage gap between policies.

One tip to remember is to try to compare the same liability limits and deductibles on each price quote and and to get quotes from as many auto insurance providers as possible. Doing this ensures the most accurate price comparison and many rates to choose from.

Buying affordable auto insurance in Durham is much easier if you have a good place to start. If you have auto insurance now, you should be able to reduce premiums using the ideas you’re about to read. But North Carolina drivers benefit from understanding how big insurance companies determine what you pay and apply this information to your search.

All the larger insurance companies give coverage prices direct online. This process is pretty easy as you simply enter the coverage amounts you desire into the quote form. Upon sending the form, the quote system will order reports for credit and driving violations and returns a price quote based on these and other factors.

Being able to quote online for Dodge Viper insurance in Durham makes it a lot easier to compare rates and it’s necessary to get many rate quotes in order to get the lowest payment.

In order to use this form to compare rates, compare quotes from the companies shown below. If you have coverage now, it’s recommended you replicate coverages and limits exactly as shown on your declarations page. This way, you will have rate comparison quotes for similar coverage.

The following companies are our best choices to provide comparison quotes in North Carolina. If you want the best car insurance in Durham, it’s a good idea that you get price quotes from several of them to find the lowest auto insurance rates.

Rates and statistics

The data table below highlights estimates of insurance rates for Dodge Viper models. Having knowledge of how policy premiums are determined can be valuable when making decisions when shopping around.

Dodge Viper Insurance Rates in Durham, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Viper SRT/10 2-Dr Coupe $296 $740 $240 $14 $72 $1,362 $114
Viper SRT/10 2-Dr Roadster $296 $740 $240 $14 $72 $1,362 $114
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Data based on married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Premium costs do not factor in specific location which can revise rates significantly.

Can higher deductibles save money?

One of the most common car insurance questions is which comprehensive and collision deductibles to buy. The comparison tables below lay out the difference in cost when you buy lower versus higher comp and collision deductibles. The first data set uses a $250 deductible for comp and collision and the second rate chart uses a $500 deductible.

Dodge Viper insurance premium estimates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Viper SRT/10 2-Dr Coupe $340 $728 $250 $14 $74 $1,431 $119
Viper SRT/10 2-Dr Roadster $340 $728 $250 $14 $74 $1,431 $119
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Dodge Viper insurance premium estimates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Viper SRT/10 2-Dr Coupe $278 $588 $250 $14 $74 $1,204 $100
Viper SRT/10 2-Dr Roadster $278 $588 $250 $14 $74 $1,204 $100
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Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Rate quotes do not factor in specific location information which can alter rates significantly.

Based on the above data, using a $250 deductible could cost the average driver approximately $19 more each month or $228 for a full year across all Dodge Viper models than requesting the higher $500 deductible. Since you would pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you go at least 13 months between claims, you would probably be better off if you choose a higher deductible.

How to calculate when to raise deductibles

Average monthly premium for $250 deductibles: $119
Average monthly premium for $500 deductibles (subtract): – $100
Monthly savings from raising deductible: $19
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $19
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 13 months

An important thing to remember is that increasing deductibles to save money means you will have to pay more out-of-pocket when you file a claim. That will require some extra savings in the event you have to pay the higher deductible.

Car insurance rates by age and gender in Durham

The diagram below compares Dodge Viper car insurance rates for male and female drivers. Data assumes a clean driving record, no claims, comprehensive and collision coverage, $100 deductibles, drivers are single, and no other discounts are factored in.

Cost difference between full coverage and liability

The diagram below illustrates the difference between Dodge Viper annual premium costs with full physical damage coverage compared to only buying the minimum liability limits required in North Carolina. The data is based on no accidents, no driving violations, $500 deductibles, drivers are not married, and no discounts are factored in.

Should you pay for full coverage or liability only?

There is no definitive formula to delete physical damage coverage, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than about 10% of the replacement cost minus the deductible, then it could be time to drop full coverage.

For example, let’s say your Dodge Viper settlement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, you would only receive $4,000 after paying your policy deductible. If premiums are more than $400 a year to have full coverage, then you might consider buying liability only.

There are some conditions where dropping physical damage coverage is not in your best interest. If you still have a lienholder on your title, you must maintain physical damage coverage in order to keep the loan. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should not remove full coverage.

Why you need to buy auto insurance

Despite the high insurance cost for a Dodge Viper in Durham, maintaining insurance is required for several reasons.

First, most states have minimum mandated liability insurance limits which means the state requires a specific minimum amount of liability insurance if you drive a vehicle. 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.

Second, if your car has a lienholder, almost every bank will require that you buy insurance to guarantee payment of the loan. If coverage lapses or is canceled, the lender may insure your Dodge at a more expensive rate and make you pay the higher price.

Third, auto insurance protects both your car and your personal assets. Insurance will also pay for medical bills for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, also pays expenses related to your legal defense in the event you are sued. If your Dodge gets damaged, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.

The benefits of buying auto insurance are without a doubt worth the cost, particularly for liability claims. The average driver in America is overpaying more than $825 a year so you should quote and compare rates at least once a year to save money.

When in doubt talk to an agent

When quoting and choosing your policy for your vehicles, there isn’t really a best way to insure your cars. Every situation is different so this has to be addressed.Higher deductibles save money
These are some specific questions could help you determine whether you might need an agent’s assistance.

If it’s difficult to answer those questions, then you may want to think about talking to an agent. If you don’t have a local agent, simply complete this short form or click here for a list of insurance companies in your area.

Specifics of your auto insurance policy

Having a good grasp of auto insurance aids in choosing the right coverages and the correct deductibles and limits. Policy terminology can be difficult to understand and reading a policy is terribly boring. These are typical coverages found on the average auto insurance policy.

Liability auto insurance

Liability insurance protects you from damages or injuries you inflict on other’s property or people by causing an accident. It protects you from claims by other people. It does not cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 30/60/25 that means you have a $30,000 limit per person for injuries, a per accident bodily injury limit of $60,000, and a total limit of $25,000 for damage to vehicles and property.

Liability coverage protects against things such as repair costs for stationary objects, structural damage and pain and suffering. The amount of liability coverage you purchase is a personal decision, but you should buy as high a limit as you can afford. North Carolina requires drivers to carry at least 30/60/25 but you should think about purchasing higher limits.

The illustration below demonstrates why buying minimum limits may not be enough coverage.

Coverage for medical payments

Med pay and PIP coverage kick in for short-term medical expenses such as X-ray expenses, dental work, rehabilitation expenses and chiropractic care. They are often utilized in addition to your health insurance plan or if you lack health insurance entirely. Coverage applies to all vehicle occupants as well as being hit by a car walking across the street. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage

Auto collision coverage

This coverage pays for damage to your Viper from colliding with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for claims like sideswiping another vehicle, driving through your garage door and hitting a parking meter. This coverage can be expensive, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to raise the deductible on your Viper to get cheaper collision coverage.

Comprehensive coverages

Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive insurance covers claims like rock chips in glass, theft and fire damage. The maximum amount a auto insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Uninsured and underinsured coverage

Your UM/UIM coverage gives you protection from other motorists when they do not carry enough liability coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since a lot of drivers carry very low liability coverage limits (North Carolina limits are 30/60/25), it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family.

In conclusion

When searching for affordable Durham auto insurance quotes, it’s a bad idea to reduce coverage to reduce premium. There have been many situations where an insured dropped collision coverage and learned later that their decision to reduce coverage ended up costing them more. The goal is to buy a smart amount of coverage at an affordable rate while still protecting your assets.

You just read many tips how you can shop for Dodge Viper insurance online. The most important thing to understand is the more times you quote, the more likely it is that you will get a better rate. Consumers may even find the best price on insurance is with a lesser-known regional company. Regional companies may cover specific market segments cheaper as compared to the big name companies such as Allstate, GEICO and Progressive.

There are still a few companies who do not provide internet price quotes and most of the time these small, regional companies only sell coverage through independent agents. Cheaper Dodge Viper insurance in Durham is attainable from both online companies and with local Durham insurance agents, so you should compare both so you have a total pricing picture.

Much more information about insurance in North Carolina is available at these links: