Unbelievable but true according to a study most consumers have purchased from the same company for four years or more, and virtually 40% of consumers have never compared car insurance rates at all. Many drivers in Durham can save hundreds of dollars each year just by getting comparison quotes, but most tend to underestimate the rate savings if they moved their coverage to a different company.
The recommended way to find better pricing on Fiat 500 insurance in Durham is to compare prices regularly from different companies in North Carolina.
Step 1: Try to comprehend what is in your policy and the steps you can take to prevent high rates. Many risk factors that cause high rates such as getting speeding tickets and an unacceptable credit score can be remedied by making minor changes to your lifestyle. Continue reading for tips to lower rates and get additional discounts that may have been overlooked.
Step 2: Compare rates from direct, independent, and exclusive agents. Direct and exclusive agents can only provide price estimates from a single company like GEICO and State Farm, while independent agencies can provide price quotes from many different companies. View a list of agents
Step 3: Compare the new rates to the premium of your current policy to see if cheaper 500 coverage is available in Durham. If you find a better price, make sure there is no coverage gap between policies.
Step 4: Provide proper notification to your current company to cancel the current policy. Submit a signed application and payment to the new company. Be sure to put the certificate verifying proof of insurance in your vehicle’s glove compartment or console.
A good tip to remember is that you use similar deductibles and liability limits on every price quote and and to get price estimates from every company you can. This enables a fair price comparison and plenty of rates choose from.
When shopping for affordable Durham auto insurance quotes, there are a couple of ways to compare prices from lots of North Carolina auto insurance companies. One of the best ways to compare Fiat 500 insurance prices is to jump online and get quotes. When comparison shopping, getting more free quotes helps improve the odds of finding the best offered rates. Some regional insurers cannot provide online price quotes, so it’s necessary to compare prices from them, too.
The companies in the list below can provide quotes in North Carolina. If you want to find cheaper car insurance in Durham, NC, we recommend you compare several of them to get the lowest price.
Choosing vehicle insurance is an important decision
Despite the high insurance cost for a Fiat 500 in Durham, buying insurance is mandatory in North Carolina but it also protects more than you think.
- Almost all states have mandatory liability insurance requirements which means state laws require specific minimum amounts of liability protection in order to license the vehicle. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you took out a loan on your 500, almost every bank will make it a condition of the loan that you have comprehensive coverage to ensure loan repayment if the vehicle is totaled. If you do not pay your insurance premiums, the lender may have to buy a policy to insure your Fiat at a much higher rate and require you to fork over a much higher amount than you were paying before.
- Insurance protects not only your Fiat but also your assets. Insurance will pay for medical transport and hospital expenses that are the result of an accident. Liability coverage also covers legal expenses if you are sued as the result of your driving. If you have damage to your Fiat as the result of the weather or an accident, comprehensive (other-than-collision) and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of having insurance definitely exceed the cost, particularly if you ever have a claim. As of last year, the average driver in North Carolina is overpaying more than $865 each year so you should quote your policy with other companies each time the policy renews to make sure the price is not too high.
What Determines Fiat 500 Insurance Rates?
Lots of factors are part of the equation when you get your auto insurance bill. Some are pretty understandable such as your driving record, but others are less apparent like your continuous coverage or how financially stable you are. An important part of buying insurance is that you know the factors that go into determining your auto insurance rates. When you know what positively or negatively determines base rates, this enables you to make decisions that will entitle you to better auto insurance rates.
Discounts for multiple policies – The majority of companies provide a discount to clients that purchase more than one policy such as combining an auto and homeowners policy. Even if you’re getting this discount you still need to compare other company rates to confirm you are receiving the best rates possible.There is a good possibility that you can find lower rates by buying auto insurance from a different company.
Tickets will cost you – Your driving record impacts premiums far more than you think. Only having one chargeable violation can increase rates to the point where it’s not affordable. Careful drivers receive lower rates as compared to careless drivers. Drivers with dangerous violations such as DUI or reckless driving may find that they have to to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to legally drive.
Deter vehicle theft – Buying a car with anti-theft technology or alarm system can help bring down rates. Theft prevention features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all help stop your car from being stolen.
Stay claim-free and save – Car insurance companies in North Carolina generally give the best rates to policyholders that do not abuse their auto insurance. If you frequently file small claims, you can pretty much guarantee much higher rates or policy non-renewal. Insurance coverage is intended to be relied upon for the large, substantial claims.
Gender impacts rates – Statistics demonstrate women tend to be less risk to insure than men. That doesn’t necessarily mean that males are worse at driving than females. Both sexes cause fender benders in similar numbers, but guys get into accidents with more damage. They also get higher numbers of serious violations such as reckless driving. Males from age 16 to 21 are most likely to cause an accident and therefore pay the highest rates.
Loss statistics for a Fiat 500 – Insurers take into consideration insurance loss statistics for every vehicle as a way to help calculate a profitable premium price. Models that historically have a higher amount or frequency of claims will have higher rates for specific coverages.
The next table shows the compiled insurance loss statistics for Fiat 500 vehicles. For each type of coverage, the claim amount for all vehicles compiled together is represented as 100. Values that are 100 or less suggest losses that are better than average, while numbers above 100 indicate frequent claims or a tendency for losses to be larger than average.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Fiat 500 | 72 | 76 | 66 | 96 | 89 | 84 |
| Fiat 500 Convertible | 76 | 79 | 60 | 85 | ||
| Fiat 500 Electric | 73 | 59 | 76 | 60 | ||
| Fiat 500L | 112 | 80 | 102 | 128 | 93 | 97 |
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
What insurance coverages do I need?
When buying coverage for your personal vehicles, there is no perfect coverage plan. Your situation is unique.
These are some specific questions may help you determine if you could use an agent’s help.
- Do I need motorclub coverage?
- Can I get by with minimal medical coverage if I have good health insurance?
- Are rental cars covered under my policy?
- What can I do if my company denied a claim?
- What is no-fault insurance?
- What is roadside assistance coverage?
- Are my friends covered when driving my Fiat 500?
If you’re not sure about those questions but one or more may apply to you, you might consider talking to an insurance agent. To find an agent in your area, fill out this quick form.
Persistence pays off
When trying to cut insurance costs, don’t be tempted to buy less coverage just to save a little money. In many cases, an accident victim reduced full coverage only to regret that saving that couple of dollars actually costed them tens of thousands. The ultimate goal is to buy a smart amount of coverage at the best possible price, but don’t skip important coverages to save money.
Lower-priced insurance in Durham is definitely available both online and from local agencies, so you need to shop Durham auto insurance with both to have the best chance of lowering rates. A few companies may not provide the ability to get quotes online and usually these small, regional companies only sell coverage through independent agents.
People change insurance companies for a variety of reasons including policy non-renewal, questionable increases in premium, delays in responding to claim requests or even an unsatisfactory settlement offer. Regardless of your reason for switching companies, finding a new insurance company is not as difficult as it may seem.
Other resources
- Credit and Insurance Scores (Insurance Information Institute)
- How Much is Durham Car Insurance for Young Drivers? (FAQ)
- How Much are Auto Insurance Rates for 19 Year Olds in Durham? (FAQ)
- What Insurance is Cheapest for Veterans in Durham? (FAQ)
- How Much is Auto Insurance for Postal Workers in Durham? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for a 20 Year Old Male in Durham? (FAQ)
- Neck Injury FAQ (iihs.org)
- What does Personal Injury Protection (PIP) Cover? (Allstate)
- Choosing an Insurance Company (Insurance Information Institute)
- Bodily Injury Coverage (Liberty Mutual)