For drivers in Durham, one of the big components that help determine auto insurance rates is where you keep your car. More populated areas will most likely pay more, whereas areas that tend to be more rural have the luxury of cheap car insurance rates.
The information below lists the most expensive areas in North Carolina in which to purchase auto insurance. Durham comes in at #7 with a yearly premium of $773 on average, which is approximately $64 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Fayetteville | $905 |
| 2 | Jacksonville | $891 |
| 3 | Charlotte | $816 |
| 4 | Gastonia | $811 |
| 5 | Wilmington | $788 |
| 6 | Greensboro | $786 |
| 7 | Durham | $773 |
| 8 | Goldsboro | $765 |
| 9 | Cary | $765 |
| 10 | Greenville | $760 |
| 11 | Wilson | $754 |
| 12 | Indian Trail | $753 |
| 13 | Apex | $747 |
| 14 | Raleigh | $744 |
| 15 | Huntersville | $742 |
| 16 | Hickory | $732 |
| 17 | High Point | $731 |
| 18 | Rocky Mount | $726 |
| 19 | Winston Salem | $716 |
| 20 | Salisbury | $705 |
| 21 | Concord | $697 |
| 22 | Chapel Hill | $696 |
| 23 | Kannapolis | $690 |
| 24 | Asheville | $687 |
| 25 | Burlington | $671 |
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Premium costs are approximated as the specific garaging location can decrease or increase prices substantially.
Now that we know where Durham ranks on price, trying to find reasonably-priced car insurance is confusing at best, and deciding which insurers offer the best auto insurance rates in Durham may require more quotes for comparison. Every insurance provider uses different criteria to set policy rates, so let’s take a look at the auto insurance companies with the most affordable rates in Durham.
We do need to point out that North Carolina auto insurance rates are based on many factors which can substantially change your annual premium. That is why it is critical to compare rates when trying to find the most economical insurance quotes in Durham. Rates can be determined by many risk factors and can change without notice, so the cheapest rate the last time you shopped your coverage around may now cost much more than other companies.
Best Car Insurance Prices in Durham
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Utica National normally has some of the most affordable car insurance rates in Durham at around $643 a year. This is $229 less than the average price paid by North Carolina drivers of $872. Progressive, Liberty Mutual, GEICO, and NC Farm Bureau also qualify as some of the lowest-priced Durham, NC auto insurance companies.
As the rates illustrate above, if you are a policyholder with Liberty Mutual and switched to Utica National, you could realize a yearly price reduction of in the vicinity of $64. Policyholders with GEICO may save as much as $85 a year, and NC Farm Bureau insureds might see rate reductions of $87 a year.
To find cheaper insurance rates for your vehicle, click here to start your custom quote or feel free to get quotes from the companies below.
Remember that these estimates are averaged across all types of drivers and the different vehicles they drive and and are not calculated with an exact zip code location in Durham. So the car insurance company that fits your needs best may not even be in the top 20 companies in the list above. That points out the importance of why you need to get quotes using your own specific driver and vehicle information.
The vehicle you are trying to insure is probably the most important factor when shopping for the best cheap insurance in Durham. Vehicles with higher performance characteristics, poor crash test ratings, or a history of substantial liability claims will cost more to insure than more economical and safe models. The information below showcases coverage costs for a handful of the most affordable automobiles to buy coverage for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 4WD | $1,100 |
| Toyota Prius | $1,125 |
| Toyota Tacoma 4WD | $1,139 |
| Ford Edge Limited 2WD | $1,178 |
| Ford Explorer Eddie Bauer AWD | $1,226 |
| Honda CR-V EX 2WD | $1,244 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,285 |
| Nissan Rogue S 2WD | $1,295 |
| GMC Sierra 2500HD SLE Regular Cab 4WD | $1,290 |
| Chevrolet Equinox LTZ 2WD | $1,296 |
| Ford Fusion SEL 4-Dr Sedan | $1,290 |
| Volkswagen Jetta 2.0T 4-Dr Sedan | $1,298 |
| Honda Civic GX 4-Dr Sedan | $1,326 |
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Cost estimates assume single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, safe-driver, and multi-policy. Information does not factor in vehicle garaging location which can modify premiums substantially.
Based upon the table data, we can tell that vehicles like the Ford Escape, Toyota Prius, Toyota Tacoma, and Ford Edge will definitely be some of the most budget-friendly vehicles to insure for drivers in Durham.
Rate increases following a ticket or accident
In a perfect world, the best way to receive low insurance rates in North Carolina for drivers in Durham is to be a good driver and avoid accidents and keep your driving record clean. The diagram below illustrates how traffic citations and accident claims influence insurance costs for different age groups of insureds. The data assumes a single male driver, comp and collision included, $100 deductibles, and no policy discounts are applied.
The chart shows that the average cost of a car insurance policy per year with no accidents or violations is $1,918. Factor in one speeding ticket and the average cost rises to $2,159, an increase of $241 each year. Now add one accident along with the one speeding ticket and the 12-month cost of insurance in Durham increases to an average of $2,853. That’s an increase of $935, or $78 per month, just for not driving attentively!
Rate difference between full and liability-only coverage
Paying less for insurance is the goal of the majority of people, and one great way to reduce the cost of insurance in Durham is to only pay for liability coverage. The chart below compares insurance costs with full physical damage coverage compared to only buying liability only. The premium estimates are based on no claims, a clean driving record, $250 deductibles, drivers are single, and no policy discounts are applied.
Averaged for all age groups, comprehensive and collision coverage on your policy costs $1,755 per year more than insuring for liability only. That proposes the question if buying full coverage is a waste of money. There is no exact formula that works best for making the decision to drop full coverage, but there is a general guideline you can use. If the annual cost of your full coverage insurance is about 10% or more of the replacement cost minus the deductible, then you may want to consider only buying liability coverage.
For example, let’s say your vehicle’s replacement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $6,000 after the policy deductible has been paid. If you are paying in excess of $600 a year for physical damage coverage, then it might be time to buy liability only.
There are some conditions where only buying liability is not financially feasible. If you still owe a portion of the original loan, you are required to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage in place.
The Durham car insurance agencies listed below are willing to answer your questions and help you decide which auto insurance coverages would be the best in your situation, since some people prefer to have some professional guidance when shopping for cheaper insurance for drivers in Durham. It can be complicated to find the best coverage on your own, so agents can give you comfort knowing you have suitable coverage if you have an accident.
To find an auto insurance agency by location nearest to you, click the button below the list.
- Mike Embree Insurance Agency
3813 University Dr – Durham, NC 27707 – (919) 489-7336 - Nationwide Insurance: Craig Insurance Group Inc
6224 Fayetteville Rd #106a – Durham, NC 27713 – (919) 544-8484 - Allstate Insurance Agent: Cody Holliday
4324 S Alston Ave – Durham, NC 27713 – (919) 249-7291 - John Moore – State Farm Insurance Agent
1107 W Main St #201 – Durham, NC 27701 – (919) 598-7900
More insurance agents in Durham, NC
How to find economical auto insurance in Durham
It is possible to find better rates, and here are some of the recommended money-saving ideas that can help drivers quote cheaper coverage.
- Having too many claims will increase rates substantially
- Increase your deductibles
- Accident-free drivers may qualify for discounts
- Home or renters coverage can save on auto insurance
- Improve your credit rating
- Avoid speeding and other traffic citations and pay less
- Compare prices frequently to find the best deal
The last tip in the list is certainly significant, as we noted in the prior article. Insurance rates can change considerably in a year, so drivers shouldn’t be reluctant to buy from a different company if you can find a cheaper rate.
Staying with the same company for years is fine, but it’s not recommended if that loyalty ends up costing a lot of money every month. Take a couple minutes and compare prices to find cheaper auto insurance in Durham in Durham.