Do you want to stop overpaying and find more competitive car insurance rates in Durham, NC? Durham shoppers have many options when shopping for affordable Mitsubishi Lancer insurance. You can either waste hours contacting agents trying to get quotes or utilize the internet to compare rates. There is a right way and a wrong way to shop for car insurance and we’ll show you the quickest way to price shop coverage on a Mitsubishi and obtain the cheapest rates.
It’s safe to assume that car insurance companies don’t want you shop around. Drivers who compare rates once a year will, in all likelihood, switch companies because there is a good chance of finding a lower-cost company. A recent car insurance study revealed that people who routinely shopped for cheaper coverage saved over $850 each year compared to policyholders who never compared rates.
If saving the most money on Mitsubishi Lancer insurance in Durham is your intention, then learning about how to get rate quotes and compare cheaper coverage can make it easier for you to save money.
Low Cost auto insurance in Durham, NC
The following companies can provide price comparisons in North Carolina. In order to find cheaper car insurance in NC, it’s a good idea that you click on several of them in order to get a fair rate comparison.
Premium rates and analysis
The table displayed below covers estimates of insurance coverage prices for Mitsubishi Lancer models. Being aware of how policy premiums are established can benefit drivers when making informed decisions when comparing rate quotes.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Lancer DE | $104 | $204 | $240 | $14 | $72 | $634 | $53 |
| Lancer ES | $104 | $204 | $240 | $14 | $72 | $634 | $53 |
| Lancer GTS | $116 | $236 | $240 | $14 | $72 | $678 | $57 |
| Lancer Sportback GTS | $116 | $236 | $240 | $14 | $72 | $678 | $57 |
| Lancer RALLIART | $128 | $266 | $240 | $14 | $72 | $720 | $60 |
| Lancer Sportback Ralliart | $128 | $266 | $240 | $14 | $72 | $720 | $60 |
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Table data represents married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Prices do not factor in zip code location which can revise coverage rates greatly.
The information below demonstrates how deductible levels and can change Mitsubishi Lancer annual premium costs for each different age category. Data assumes a single female driver, comprehensive and collision coverage, and no discounts are applied.
Insurance rate increases from tickets or accidents
The example below demonstrates how traffic citations and at-fault collisions can drive up Mitsubishi Lancer yearly insurance costs for different age groups of insureds. The premiums assume a single male driver, comp and collision included, $500 deductibles, and no other discounts are factored in.
Mitsubishi Lancer insurance rates: Men versus women
The example below visualizes the comparison of Mitsubishi Lancer car insurance costs for male and female drivers. The prices are based on no tickets, no at-fault accidents, comp and collision included, $100 deductibles, drivers are single, and no discounts are applied to the premium.
Price comparison of only insuring for liability
The diagram below shows the comparison of Mitsubishi Lancer insurance costs when comparing full coverage to liability only. The costs are based on no violations or accidents, $100 deductibles, single status, and no discounts are applied.
When to drop comp and collision
There is no clear-cut formula to exclude comp and collision coverage, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is about 10% or more of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.
For example, let’s assume your Mitsubishi Lancer book value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $2,000 after paying the physical damage deductible. If premium cost is more than $200 a year for physical damage coverage, the it may be a good time to stop paying for full coverage.
There are a few situations where eliminating full coverage is not in your best interest. If you still have a loan on your vehicle, you are required to maintain full coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not eliminate full coverage.
These discounts can reduce Mitsubishi Lancer insurance rates
Companies offering auto insurance don’t necessarily list every policy discount very well, so the following is a list of a few of the more common and also the more inconspicuous savings tricks you should be using when you buy Durham auto insurance online.
- Multiple Policy Discount – If you have multiple policies and insure them both with the same insurance company they may give you a discount of at least 10 to 15 percent or more.
- Anti-lock Brakes – Cars, trucks, and SUVs that have anti-lock braking systems prevent accidents and qualify for as much as a 10% discount.
- 55 and Retired – Older drivers may be able to get a small decrease in premiums.
- Seat Belt Usage – Forcing all vehicle occupants to buckle their seat belts can save up to 10 percent (depending on the company) on the premium charged for medical payments and/or PIP.
- Claim Free – Good drivers with no accidents pay much less when compared with policyholders that have many claims.
- Waiver for an Accident – This one isn’t a discount, but certain companies permit an accident before your rates go up as long as you don’t have any claims before the accident.
- Life Insurance – Some car insurance companies give a discounted premium rate on car insurance if you buy some life insurance in addition to your auto policy.
Discounts save money, but please remember that most discounts do not apply to your bottom line cost. Most cut the cost of specific coverages such as liability and collision coverage. Even though it appears you would end up receiving a 100% discount, companies don’t profit that way. Any qualifying discounts will help lower your car insurance premiums.
The diagram below visualizes the comparison of Mitsubishi Lancer auto insurance rates with and without discounts being applied to the rates. Data assumes a male driver, no tickets, no at-fault accidents, North Carolina state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, marriage, safe-driver, homeowner, multi-policy, and multi-car discounts applied.
A few companies who may offer these money-saving discounts may include but are not limited to:
Check with every company to give you their best rates. Some of the discounts discussed earlier might not be offered on policies in Durham.
Local Durham car insurance agents
A lot of people just prefer to go talk to an agent and doing that can be a smart decision Licensed agents can help you build your policy and help submit paperwork. One of the great benefits of comparing insurance prices online is that drivers can save money and get lower rates but also keep your business local.
After completing this form (opens in new window), your insurance coverage information is submitted to local insurance agents who will return price quotes for your auto insurance coverage. You never need to contact any insurance agencies because prices are sent to the email address you provide. If you need to get a rate quote from one company in particular, feel free to navigate to their website and give them your coverage information.
Picking the best provider should include more criteria than just a low price. Agents should be asked these questions:
- How long have they been in business?
- How are claims handled?
- Are there any extra charges for paying monthly?
- Does their agency support local causes in Durham?
- Which company do they place the most coverage with?
- Do they review policy coverages at every renewal?
In the end, you can save money
When shopping online for car insurance, never reduce coverage to reduce premium. There are too many instances where an accident victim reduced collision coverage only to regret at claim time that a couple dollars of savings turned into a financial nightmare. Your aim should be to purchase plenty of coverage at the lowest possible cost and still be able to protect your assets.
We just showed you many ideas to shop for Mitsubishi Lancer insurance online. The key thing to remember is the more price quotes you have, the higher your chance of finding inexpensive Durham auto insurance quotes. Drivers may even discover the lowest priced car insurance comes from a smaller regional carrier.
Budget-conscious Mitsubishi Lancer insurance is attainable from both online companies as well as from insurance agents, and you need to comparison shop both to get a complete price analysis. There are still a few companies who may not provide online price quotes and usually these small insurance companies provide coverage only through independent insurance agents.
How to find low-cost Mitsubishi Lancer insurance in Durham
The best way to find the cheapest price for auto insurance rates in Durham is to start doing a yearly price comparison from companies who sell insurance in North Carolina. This can be done by following these steps.
- Spend some time learning about individual coverages and the modifications you can make to keep rates in check. Many rating factors that cause high rates such as speeding tickets, accidents and a low credit rating can be amended by paying attention to minor details.
- Get rate quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only quote rates from a single company like Progressive or State Farm, while independent agencies can provide price quotes from multiple companies.
- Compare the new rate quotes to your existing policy and see if there is a cheaper rate in Durham. If you find a lower rate and buy the policy, ensure there is no coverage lapse between policies.
- Provide notification to your current company to cancel the current policy and submit the completed application along with a down payment for the new policy. As soon as you receive it, keep the new proof of insurance paperwork in an easily accessible location in your vehicle.
The key thing to remember is to try to use identical coverages on each quote request and and to look at all possible companies. Doing this guarantees a level playing field and a complete rate analysis.
Helpful resources
- Comprehensive Coverage (Liberty Mutual)
- How Much are Durham Auto Insurance Quotes for 17 Year Olds? (FAQ)
- Who Has the Cheapest Auto Insurance for Teenagers in Durham? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Police Officers in Durham? (FAQ)
- Senior Drivers (Insurance Information Institute)
- Crash Avoidance Technologies FAQ (iihs.org)
- Vehicle Size and Weight FAQ (iihs.org)
- Auto Insurance 101 (About.com)