One of the many considerations that aid in calculating insurance cost is where your residence is. More densely populated places are more likely to pay higher prices, whereas areas with less congestion benefit from lower rates.
The next table shows the most expensive areas in North Carolina for real estate agents to buy car insurance in. Durham is ranked #6 with a yearly cost of $773 for the average policy, which is around $64 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Fayetteville | $905 |
| 2 | Jacksonville | $864 |
| 3 | Charlotte | $840 |
| 4 | Wilmington | $788 |
| 5 | Gastonia | $787 |
| 6 | Durham | $773 |
| 7 | Raleigh | $767 |
| 8 | Cary | $765 |
| 9 | Huntersville | $756 |
| 10 | Greensboro | $756 |
| 11 | Rocky Mount | $748 |
| 12 | Apex | $747 |
| 13 | Indian Trail | $745 |
| 14 | Goldsboro | $743 |
| 15 | Hickory | $740 |
| 16 | Greenville | $738 |
| 17 | Wilson | $732 |
| 18 | Chapel Hill | $724 |
| 19 | High Point | $723 |
| 20 | Salisbury | $705 |
| 21 | Burlington | $692 |
| 22 | Winston Salem | $688 |
| 23 | Asheville | $687 |
| 24 | Concord | $669 |
| 25 | Kannapolis | $669 |
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Prices are comparative as specific location information can impact insurance rates considerably.
The car, truck, or SUV that needs insurance is one of the biggest factors that determines whether or not you find affordable car insurance for real estate agents. Vehicles with limited top-end speed, an excellent safety record, or a track record of few liability claims will cost substantially less to insure than higher performance models.
The next table presents car insurance rates for a handful of the most budget-friendly vehicles to buy insurance for.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda Odyssey LX | $1,181 |
| Toyota Tacoma 4WD | $1,205 |
| Honda CR-V EX 4WD | $1,210 |
| Ford Escape Limited 2WD | $1,249 |
| Ford Edge Limited 2WD | $1,251 |
| Chevrolet Impala LT | $1,275 |
| Chevrolet Equinox LT AWD | $1,281 |
| Toyota Camry LE | $1,275 |
| Ford Explorer Limited 2WD | $1,300 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $1,340 |
| Hyundai Elantra SE 4-Dr Sedan | $1,343 |
| Toyota Prius | $1,347 |
| Jeep Grand Cherokee Limited 2WD | $1,368 |
| GMC Sierra 2500HD SLE Extended Cab 4WD | $1,373 |
| Dodge Grand Caravan SE | $1,371 |
| Toyota RAV4 Sport 4WD | $1,394 |
| Volkswagen Jetta LE 4-Dr Sedan | $1,399 |
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Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Prices do not factor in specific Durham, NC garaging location which can decrease or increase insurance rates noticeably.
Looking at the rates, models like the Honda Odyssey, Toyota Tacoma, Honda CR-V, Ford Escape, and Ford Edge will definitely be the most economical vehicles to insure for realtors.
Trying to find cost effective car insurance is tough enough, and figuring out which insurers offer the cheapest insurance rates for real estate agents will take even more rate comparisons. Each insurance company uses their own formula for filing rates in each state, so let’s begin by examining the overall cheapest insurance companies in Durham.
It’s important to understand that Durham insurance rates are impacted by many things which can substantially change the price of your policy. Events like a birthday, buying a different vehicle, or getting a ticket for careless driving can produce rate changes that can now make some companies more affordable than competitors.
Cheap Insurance Rates for Realtors
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $651 |
| 2 | Utica National | $655 |
| 3 | NC Farm Bureau | $716 |
| 4 | Penn National | $717 |
| 5 | Liberty Mutual | $728 |
| 6 | Titan | $729 |
| 7 | GEICO | $750 |
| 8 | State Farm | $779 |
| 9 | Auto-Owners | $870 |
| 10 | National General | $881 |
| 11 | Allied | $892 |
| 12 | Erie | $895 |
| 13 | Travelers | $927 |
| 14 | Peerless | $972 |
| 15 | Unitrin | $1,012 |
| 16 | MetLife | $1,018 |
| 17 | Encompass | $1,031 |
| 18 | Nationwide | $1,031 |
| 19 | Allstate | $1,064 |
| 20 | Safeco | $1,076 |
| Find Your Rate Go | ||
Progressive generally has some of the best car insurance rates in Durham at around $651 per year. This is $221 less than the average rate paid by North Carolina drivers of $872. Utica National, NC Farm Bureau, Penn National, and Liberty Mutual would also make the list of some of the more affordable Durham, NC car insurance companies.
In the rate table above, if you are a customer of NC Farm Bureau and switched to Progressive, you may realize savings of upwards of $65. Customers with Penn National might save as much as $66 a year, and Liberty Mutual policyholders might see rate reductions of $77 a year.
To see if you’re overpaying, click here to begin a quote or visit any of the low-priced companies below.
Bear in mind that those premium estimates are averaged for all drivers and vehicles and and are not figured with an exact location for real estate agents. So the auto insurance company that can offer the best rates for your situation may not even be in the top 20 companies in the list above. That emphasizes why you need to get rate quotes using your own personalized driver profile and vehicle information.
Violations and accidents raise rates
One of the best ways to maintain the best insurance premiums in North Carolina for realtors is to drive carefully and maintain a clean driving record. The information below shows how violations and at-fault accidents can impact car insurance costs for different categories of driver ages. Data assumes a single male driver, comp and collision included, $500 deductibles, and no discounts are applied to the premium.
The chart shows that the average cost of an auto insurance policy per year with no accidents and a clean driving record is $1,573. Factor in two speeding tickets and the average cost surges to $2,077, an increase of $504 each year. Then add one accident along with the two speeding tickets and the annual cost of insurance for real estate agents increases to an average of $2,594. That’s an increase of $1,021, or $85 per month, just for not driving safely!
The chart below demonstrates how deductible levels can increase or decrease annual premium costs when searching for cheap insurance for real estate agents. The costs are based on a married male driver, comp and collision included, and no discounts are taken into consideration.
The chart above illustrates that a 40-year-old driver could cut expenses by $174 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $262 by choosing a $1,000 deductible. Even younger insureds, like the Age 20 category, have the ability to save up to $578 or even more just by using higher deductibles.
When choosing a higher deductible, it is necessary to have spare funds to allow you to pay the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Do you need full coverage?
Reducing premiums for insurance should be important to most vehicle owners, and one easy way to save on the cost of insurance for real estate agents is to only buy liability insurance. The chart below visualizes the comparison of insurance costs when comparing full coverage to liability only. The information is based on a clean driving record, no claims, $500 deductibles, marital status is single, and no policy discounts are applied.
As an average for all age groups, physical damage coverage costs $1,573 per year over having just liability coverage. Many of you may wonder if paying for full coverage is worth it. There is no definitive formula to stop paying for full coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is about 10% or more of any settlement you would receive from your insurance company, then it could be time to drop full coverage.