How Much is Auto Insurance for Drivers with Bad Credit in Durham?

Deciphering which company quotes the best insurance rates for drivers with bad credit will take a little more work in order to find a policy that fits your budget.

Each insurer has their own unique process for determining rates, so let’s take a look at the insurance companies with the most affordable rates in Durham, NC. It’s a good idea to be aware that Durham insurance rates are based on many factors that can increase the price of your policy. Simply getting older, buying a different home, or getting a ticket for running a stop sign may prompt premium changes that can make some companies much cheaper than others.

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Progressive quotes some of the cheapest car insurance rates in Durham at around $639 a year. This is $233 less than the average rate paid by North Carolina drivers of $872. Utica National, Liberty Mutual, NC Farm Bureau, and GEICO are also some of the more affordable Durham, NC auto insurance companies.

As depicted above, if you are currently insured with Utica National and switched to Progressive, you could earn a yearly savings of in the neighborhood of $16. Policyholders with Liberty Mutual may save as much as $68 a year, and NC Farm Bureau insureds might see rate reductions of $70 a year.

Be aware that those prices are averages across all drivers and vehicles in North Carolina and do not factor in an exact zip code location for drivers with bad credit. So the insurer that fits you best may not even be in the top 20 companies in the list above. That’s why you need to compare rates from as many companies as possible using your own individual information.

The car, truck, or SUV you are insuring is probably the most important factor when quoting the lowest-priced auto insurance for drivers with bad credit. Vehicles with lower acceleration and performance, advanced safety features, or a positive history of liability claims will cost significantly less to insure than high performance models.

The list below outlines insurance rates for a selection of the most affordable vehicles to buy coverage for.

Data variables include single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Rate quotes do not factor in specific location which can impact premiums substantially.

By looking at the data, vehicles like the Honda Accord, Toyota Tacoma, and Ford Escape will be a few of the cheaper vehicles to insure for people with poor credit. The price of auto insurance will be more costly because of the fact that there is a higher risk for drivers with bad credit, but generally speaking those models will have the lowest insurance prices that you’ll find.

For people with poor credit, one of the more important components that help determine the amount you pay for auto insurance is where you keep your car. Cities with larger populations or higher claim trends will most likely have higher rates, whereas areas with less people or fewer weather incidents receive better rates.

The next table rates the most expensive areas in North Carolina for drivers with bad credit in which to buy car insurance. Durham comes in at #6 with an annual premium of $773 on average, which is approximately $64 per month.

Prices are comparative as the specific Durham residence address can decrease or increase rates noticeably.

Selecting the highest-rated car insurance provider can be rather challenging considering how many companies are available to choose from in North Carolina. The rank data below may help you choose which insurers to look at when buying insurance for drivers with bad credit. The ratings below only include the companies with a significant amount of written premium nationwide, so companies with more of a regional focus are not factored into these rankings.

Top 10 Major Car Insurance Companies in Durham Ranked by Value

1. Travelers
2. American Family
3. AAA Insurance
4. Safeco Insurance
5. Progressive
6. The Hartford
7. The General
8. 21st Century
9. Esurance
10. Titan Insurance

Top 10 Major Car Insurance Companies in Durham Ranked by Customer Service

1. USAA
2. Travelers
3. AAA Insurance
4. Nationwide
5. Safeco Insurance
6. Progressive
7. State Farm
8. The Hartford
9. The General
10. Esurance

Reckless driving habits raise Durham insurance rates

A great way to receive the most affordable insurance prices in Durham for people with poor credit is to pay attention while driving and avoid accidents and keep your driving record clean. The example below illustrates how traffic citations and at-fault claims influence yearly insurance costs for different age groups. The data is based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no other discounts are factored in.

In the example above, the average cost of car insurance per year with no accidents or violations is $1,401. Add in two speeding tickets and the average cost rises to $1,843, an increase of $443 each year. Now add in one accident along with the two speeding tickets and the yearly cost of insurance for drivers with bad credit increases to an average of $2,301. That’s an increase of $900, or $75 per month, just for not being attentive to the road!

Get discounts on Durham car insurance rates

Insurers that offer coverage for drivers with bad credit may provide special discounts that may potentially lower prices by as much as 25% or more if you meet eligibility requirements. The best insurance companies and a selection of discounts are:

• State Farm policyholders can earn discounts including student away at school, safe vehicle, multiple autos, good driver, defensive driving training, and multiple policy.
• Esurance may have discounts that include Pac-12 alumni, Switch & Save, good student, online quote, and multi-car.
• Progressive includes discounts for online signing, multi-vehicle, multi-policy, online quote discount, continuous coverage, homeowner, and good student.
• Liberty Mutual discounts include new graduate, preferred payment discount, new vehicle discount, safety features, multi-policy, teen driver discount, and exclusive group savings.
• Auto-Owners Insurance offers premium reductions for paperless, mature driver, safe vehicle, paid in full, good student, and group or association.
• GEICO offers discounts for good student, multi-vehicle, military active duty, emergency military deployment, and federal employee.

The diagram below shows the comparison of car insurance rates with and without discounts being applied to the rates. The price estimates are based on a male driver, no claims, a clean driving record, North Carolina state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with accident-free, multiple vehicle, homeowner, marriage, anti-theft, and passive restraint discounts applied. When these discounts are applied, theaverage yearly reduction on insurance for drivers with bad credit is 27% or $398.

The insurance agencies below can probably help you make a decision which auto insurance policy would work best for you, as lots of people like to get help from a professional when shopping for the best coverage for drivers with bad credit. It can be complicated to find the best rates on your own, and insurance agents licensed in the state of North Carolina can give satisfaction knowing your coverage gives you sufficient coverage at claim time. To locate an agency in your neighborhood, click the button after the list or click here to compare prices now.

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