I’m sure you’ve seen the commercials from insurers like The General, Progressive, and GEICO that promise the cheapest rates, so you just need to choose the one with the most memorable commercial, right?
It’s just not that simple, as there are many unknowns such as the level of liability coverage you want, how old you are, your financial responsibility, and if you want full coverage included. If you keep reading, we will teach you about the best ways to save money and will hopefully give you a good beginning to your quest for cheaper car insurance in North Carolina.
The type of vehicle you are trying to insure is one of the largest considerations that determines whether or not you can buy the best cheap coverage for handicapped drivers. Vehicles with lower acceleration and performance, modern passenger safety features, or a low likelihood of having liability claims will cost substantially less to insure than high performance models. The table below shows coverage rates for a handful of the more affordable vehicles to buy coverage for.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 2WD | $1,110 |
| Honda Accord EX-L 4-Dr Sedan | $1,178 |
| Toyota Prius | $1,204 |
| Hyundai Elantra GLS Touring Station Wagon | $1,242 |
| Honda CR-V EX 4WD | $1,270 |
| Dodge Grand Caravan Hero | $1,285 |
| Chevrolet Silverado LT Extended Cab 4WD | $1,290 |
| Volkswagen Jetta S 4-Dr Sedan | $1,285 |
| Ford F-150 XLT Crew Cab 4WD | $1,311 |
| Nissan Altima 2.5 S 4-Dr Sedan | $1,351 |
| Ford Explorer XLT AWD | $1,396 |
| Jeep Wrangler Unlimited Sahara 4WD 4-Dr | $1,398 |
| Ford Focus SE 4-Dr Sedan | $1,446 |
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Data rating is based on single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, safe-driver, and multi-vehicle. Information does not factor in zip code location which can alter premiums significantly.
Based upon the table data, you can see that makes and models like the Ford Escape, Honda Accord, Toyota Prius, and Hyundai Elantra are a few of the most affordable vehicles to insure for drivers with handicaps.
One of the more important criteria that are looked at to determine car insurance rates is where you keep your vehicle in Durham. Areas with more people or even just a higher incidence of claims tend to pay more, whereas areas with less congestion have the luxury of cheap car insurance rates.
The next table shows the most expensive areas in North Carolina for handicapped drivers in which to purchase auto insurance. Durham shows up at #5 with an annual cost of $797 for car insurance, which is about $66 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Fayetteville | $932 |
| 2 | Jacksonville | $864 |
| 3 | Charlotte | $840 |
| 4 | Gastonia | $811 |
| 5 | Durham | $797 |
| 6 | Wilmington | $788 |
| 7 | Raleigh | $767 |
| 8 | Cary | $765 |
| 9 | Greenville | $760 |
| 10 | Greensboro | $756 |
| 11 | Rocky Mount | $748 |
| 12 | Apex | $747 |
| 13 | Indian Trail | $745 |
| 14 | High Point | $745 |
| 15 | Goldsboro | $735 |
| 16 | Huntersville | $734 |
| 17 | Wilson | $724 |
| 18 | Chapel Hill | $717 |
| 19 | Winston Salem | $716 |
| 20 | Hickory | $711 |
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Information shown are comparative as the specific zip code location can modify auto insurance rates substantially.
Full coverage versus liability only rates
Saving money on auto insurance should be important to the majority of drivers, and one common way to lower the cost of insurance for handicapped drivers is to only pay for liability coverage. The illustration below illustrates the comparison of insurance costs with full coverage and liability only. Data assumes no accidents, no driving violations, $500 deductibles, drivers are not married, and no discounts are applied.
If we average the cost for ages 20 through 70, comprehensive and collision coverage on your policy costs $1,292 per year more than carrying just liability coverage. A very common question is if buying full coverage is a good investment. There is no set guideline of when to exclude full coverage, but there is a general convention. If the annual cost of your full coverage insurance is more than around 10% of the settlement you would receive from your company, then you may want to consider only buying liability coverage.
For example, let’s pretend your vehicle’s settlement value is $5,500 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $4,500 after paying your policy deductible. If it’s costing in excess of $450 a year for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are some scenarios where eliminating full coverage is not in your best interest. If you haven’t satisfied your loan, you have to maintain full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not drop full coverage.
Discounts on Durham auto insurance
Auto insurance companies that provide policies for handicapped drivers may also offer premium discounts that could potentially reduce rates by as much as 25% or more if you are eligible to receive them. Popular auto insurance companies and some of their more popular discounts can be read below.
- Farmers Insurance offers premium reductions for switch companies, homeowner, distant student, bundle discounts, and business and professional.
- State Farm policyholders can earn discounts including defensive driving training, anti-theft, safe vehicle, Steer Clear safe driver discount, and accident-free.
- Liberty Mutual may offer discounts for teen driver discount, multi-policy, good student, hybrid vehicle, new graduate, exclusive group savings, and newly married.
- MetLife has discounts for claim-free, accident-free, defensive driver, good driver, multi-policy, good student
- Progressive has savings for continuous coverage, online quote discount, multi-vehicle, multi-policy, and good student.
The information below compares car insurance rates with and without discounts applied to the policy premium. The prices are based on a female driver, no claims or violations, North Carolina state minimum liability limits, comp and collision included, and $500 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second shows the rates with homeowner, passive restraint, claim-free, multiple policy, anti-theft, and vehicle safety discounts applied. With discounts applied, theamount saved on auto insurance for handicapped drivers is 27% or $309.
Low rates can quickly become overpriced
Durham auto insurance rates are based on many factors which can significantly increase or decrease the policy premium. Improving your credit score, moving across town, or getting caught speeding may cause policy rate changes that can cause some rates to be cheaper than competitors.
Also, auto insurance companies change prices at least once a year in order to offset underwriting gains or losses. Higher than normal claims may result in rate hikes, while a lower level of claims may produce cheaper Durham car insurance rates.
To illustrate this example, the chart below analyzes the cheapest car insurance in Durham, NC for a 35-year-old female driver with a clean driving record, no accidents, and a good credit rating. If we estimate prices based on her personal profile, Progressive might quote the cheapest car insurance rates in Durham at $755 a year. This is $117 less than the average policy premium paid by North Carolina drivers of $872. Utica National, Liberty Mutual, Titan, and NC Farm Bureau round out the rest of the top five cheapest Durham, NC auto insurance companies.
In the next rate comparison, we’ll give the driver from above a chargeable claim, a little lower credit rating, and a speeding ticket. Due to the fact that every auto insurer has their own process for setting rates, comparing prices may now result in a slightly different list of companies as shown below.
GEICO now has the cheapest rate in Durham with State Farm, Auto-Owners, Utica National, and National General now rounding out the top five. This shows why Durham drivers need to compare rates to get the most economical auto insurance rates for handicapped drivers.
Auto insurance prices are made up of many different factors and change frequently, so the best option six months ago may now be quite expensive.
The agencies below are willing to help you make a decision which auto insurance policy fits you best, as lots of drivers aren’t clear which coverage they need and would like to have some advice when trying to find the best insurance rates for handicapped drivers. It can be hard to find the cheapest rates, so agents can give peace of mind knowing your policy gives you sufficient coverage for your assets.
To locate a Durham auto insurance agent by location nearest to you, click the button at the bottom of the list or click here to compare prices now.
- Allstate Insurance Agent: Michael D. Maffeo
2705 N Duke St Ste 203 – Durham, NC 27704 – (919) 479-5085 - Leslie Robinson State Farm Insurance
105 W North Carolina 54 #263 – Durham, NC 27713 – (919) 206-5096 - Shawn Cockerham – State Farm Insurance Agent
5518 NC-55 – Durham, NC 27713 – (919) 316-3276 - Andy Jones – State Farm Insurance Agent
4519 N Roxboro St – Durham, NC 27704 – (919) 477-0054
Find a Durham, NC insurance agent near you
How to find economical auto insurance for handicapped drivers
The list below shows some of the recommended money-saving ideas that can help Durham drivers get more affordable coverage.
- Accidents can significantly increase rates
- Buying home and auto insurance together can earn discounts
- Safe vehicles cost less to insure
- Remove physical damage coverage on older vehicles
- Drivers with good credit often pay less
- Shop your coverage around for the best deal
The last suggestion is notably important, as was pointed out in this article. Prices charged by car insurance companies in Durham can be modified anytime, so you should be ready to switch companies if a more affordable price is available.
Many drivers prefer to stick with one company, but it’s not a good idea if that loyalty results in overpaying thousands of dollars over several years. In just a couple of minutes you could compare rates to find cheaper insurance for handicapped drivers.