How to Compare Durham Audi S5 Insurance

The preferred way to get low-cost Audi S5 insurance is to compare prices regularly from companies that insure vehicles in Durham. You can shop around by following these steps.

• First, spend some time learning about how auto insurance works and the modifications you can make to keep rates down. Many factors that drive up the price like tickets, at-fault accidents, and a poor credit rating can be amended by being financially responsible and driving safely. Read the full article for more details to prevent rate hikes and get discounts that may be overlooked.
• Second, obtain price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give prices from a single company like GEICO and Allstate, while independent agencies can quote rates for a wide range of companies. View prices
• Third, compare the new rates to your current policy and determine if cheaper S5 coverage is available. If you find a lower rate quote and change companies, make sure there is no coverage gap between policies.
• Fourth, notify your agent or company of your intention to cancel your current policy and submit a completed policy application and payment to your new company or agent. Once coverage is bound, keep the new certificate verifying coverage along with the vehicle’s registration papers.

One tip to remember is that you’ll want to compare the same coverage limits and deductibles on each price quote and and to get prices from as many auto insurance providers as possible. This enables a fair rate comparison and a complete price analysis.

Amazingly, nearly 70% of customers have bought auto insurance from the same company for at least four years, and approximately 40% of consumers have never taken the time to shop around. With the average premium in North Carolina being $980, drivers could save about $90 every year, but most undervalue how much they could save if they replace their high priced policy.

Buying the cheapest car insurance in Durham can be easy if you know a few tricks. If you have car insurance now, you will surely be able to reduce premiums using the techniques covered below. Nevertheless, North Carolina drivers do need to understand how companies compete online.

The majority of larger companies such as Progressive, Allstate and GEICO provide prices for coverage directly from their websites. Getting online quotes for Audi S5 insurance in Durham is fairly simple as you simply enter your coverage preferences into the form. Once entered, their rating system orders your driving and credit reports and quotes a price. This helps simplify price comparisons, and it’s absolutely necessary to perform this step if you want to find the most affordable insurance rates.

If you want to compare rates using this form now, compare rates now from the companies shown below. If you currently have coverage, we recommend you replicate the limits and deductibles exactly as they are listed on your policy. Doing this guarantees you will get rate quotes for similar insurance coverage.

The companies shown below provide price comparisons in Durham, NC. To get cheap car insurance in North Carolina, we suggest you visit several of them in order to find the most affordable rates.

Cheaper Durham insurance quotes with discounts

Some insurers don’t always list all possible discounts very well, so the below list has some of the best known and the more hidden credits that may apply to you.

• Professional Organizations – Participating in a qualifying organization could qualify you for a break on your next renewal.
• Waiver for an Accident – Not a discount per se, but a few companies such as Liberty Mutual, Allstate and State Farm will allow you to have one accident before your rates go up if you have no claims before the accident.
• Data Collection Discounts – Policyholders that allow data collection to look at their driving habits by installing a telematics device like In-Drive from State Farm and Progressive’s Snapshot could save a few bucks if they exhibit good driving behavior.
• Employee of Federal Government – Having worked for a branch of the government can save as much as 8% depending on your insurance provider.
• Use Seat Belts – Drivers who require all vehicle occupants to buckle their seat belts can save a little on the medical payments or PIP coverage costs.
• Student Driver Training – Have your child enroll in driver’s education if it’s offered in school.
• Theft Deterrent Discount – Vehicles that have factory alarm systems and tracking devices are stolen less frequently so companies will give you a small discount.
• Homeowners Savings – Just owning your own home can get you a discount because of the fact that having a home requires personal responsibility.
• Pay Early and Save – By paying your policy upfront instead of paying each month you can avoid the installment charge.

A quick disclaimer, most discount credits are not given to your bottom line cost. Some only apply to the price of certain insurance coverages like liability, collision or medical payments. Just because you may think adding up those discounts means a free policy, it’s just not the way it works.

The example below illustrates the comparison of Audi S5 car insurance costs with and without discounts applied to the premium. The premiums are based on a male driver, no driving violations, no at-fault accidents, North Carolina state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, multi-car, marriage, safe-driver, and homeowner discounts applied.

A list of insurance companies and a partial list of their discounts are detailed below.

• American Family offers discounts including TimeAway discount, bundled insurance, good student, mySafetyValet, and early bird.
• State Farm discounts include multiple autos, defensive driving training, anti-theft, driver’s education, Drive Safe & Save, and multiple policy.
• 21st Century offers discounts for theft prevention, automatic seat belts, air bags, teen driver, driver training, and 55 and older.
• Travelers may have discounts that include payment discounts, save driver, continuous insurance, student away at school, multi-car, and driver training.
• GEICO may offer discounts for driver training, multi-policy, seat belt use, daytime running lights, air bags, and good student.

Check with every prospective company which discounts you qualify for. A few discounts may not apply to policies in every state. To see a list of companies who offer insurance discounts in North Carolina, click here to view.

Premium rates and analysis

The rate information below outlines estimates of insurance coverage prices for Audi S5 models. Learning more about how premiums are established can assist in making smart choices when comparing insurance quotes.

Data rating is based on married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Premium amounts do not factor in your specific Durham location which can impact coverage rates considerably.

The illustration below shows how choosing a deductible and can raise or lower Audi S5 insurance rates for each different age category. The data is based on a married male driver, full coverage, and no policy discounts are applied.

Impact of careless driving on Durham auto insurance rates

The example below demonstrates how citations and accidents can increase Audi S5 insurance costs for different age groups of insureds. The premium estimates are based on a single female driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied to the premium.

Full coverage rates compared to liability-only

The information below shows the comparison of Audi S5 insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in North Carolina. Data assumes a clean driving record, no at-fault accidents, $250 deductibles, drivers are single, and no discounts are factored in.

Should you pay for full coverage?

There is no definitive guideline of when to phase out full coverage, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is 10% or more of replacement cost minus your deductible, then it might be time to buy liability only.

For example, let’s pretend your Audi S5 claim settlement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would get paid by your company is $4,000 after paying your policy deductible. If it’s costing you more than $400 a year for full coverage, then it could be time to drop full coverage.

There are some situations where dropping physical damage coverage is not a good idea. If you haven’t satisfied your loan, you have to carry full coverage to protect the lienholder’s interest in the vehicle. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.

Local Durham insurance agencies and insurance

Many drivers prefer to visit with an insurance agent and that can be a smart move A nice benefit of getting free rate quotes online is that you can find cheaper premium rates but also keep your business local.

By using this simple form, your information gets sent to participating agents in Durham who will return price quotes for your business. You won’t need to search for any insurance agencies since price quotes are sent to you instantly. You can most likely find cheaper rates and a licensed agent to talk to. If you have a need to compare rates for a specific company, feel free to jump over to their website and give them your coverage information.

Finding the right insurer requires you to look at more than just the quoted price. These questions are important to ask:

• Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
• How much training do they have in personal risk management?
• Are they full-time agents?
• Does the company use OEM repair parts?
• Are they giving you every discount you deserve?

Two types of Durham auto insurance agents

If you are searching for an insurance agent, there are two types of insurance agents that you can choose from. Durham agents may be either exclusive or independent.

Exclusive Agencies

Agents of this type have only one company to place business with and some examples include AAA, State Farm, Farmers Insurance, and Allstate. These agents are not able to give you multiple price quotes so it’s a take it or leave it situation. Exclusive insurance agents are usually quite knowledgeable on sales techniques which helps them compete with independent agents.

The following is a short list of exclusive agencies in Durham that are able to give rate quotes.

View more agents

Independent Agencies or Brokers

Independent agents are not employed by one company so they can insure your vehicles through lots of different companies and help determine which has the cheapest rates. If your agent finds better pricing, they can switch companies in-house and that require little work on your part.

When comparing rate quotes, you will want to get some free quotes from a few independent agents so that you can do a thorough price comparison.

Below is a short list of independent insurance agencies in Durham willing to provide price quote information.

View more agents

Upon receiving good feedback to all your questions and an affordable coverage quote, chances are good that you have found an auto insurance agent that will properly service your insurance policy.

Learn How to Buy Auto Insurance Cheaper

Many factors are part of the calculation when premium rates are determined. Some factors are common sense such as traffic violations, but others are less apparent such as your marital status or your financial responsibility. When buying auto insurance it’s important to understand some of the elements that come into play when calculating your policy premiums. If you know what positively or negatively impacts your premiums, this enables informed choices that may result in much lower annual insurance costs.

• Do you need those extra policy coverages? – Policies have extra coverages you can purchase but may not be useful. Insurance for things like coverage for rental cars, accident forgiveness, and motor club memberships are some examples. They may sound like good ideas initially, but your money might be better spent on other coverage so remove them and pocket the money.
• Being married can save on auto insurance – Getting married helps lower the price compared to being single. Having a significant other translates into being more responsible and it’s statistically proven that being married results in fewer claims.
• Too many policy claims and you’ll pay more – Insurance companies in North Carolina generally give lower rates to people who are not frequent claim filers. If you are the type of insured that files lots of claims you can expect much higher rates or policy non-renewal. Insurance coverage is intended to be relied upon for claims that you cannot pay yourself.
• Deter vehicle theft – Driving a car with advanced anti-theft systems can help bring down rates. Advanced theft deterrents such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack can thwart car theft.
• Low credit rating equals high rates – Having a bad credit history is a big factor in determining what you pay for auto insurance. Insureds that have high credit ratings tend to file fewer claims and have better driving records than drivers with lower credit ratings. So if your credit history can be improved, you could be paying less to insure your Audi S5 if you improve your credit rating.
• Adjust deductibles and save – Insurance for physical damage, also known as collision and other-than-collision, is used to repair damage to your Audi. Some instances where coverage would apply would be running into the backend of another car, flood damage, and damage caused by flying debris. The deductibles are how much you are required to spend if a claim is determined to be covered. The more damage repair cost the insured is willing to pay, the less your company will charge you for insurance.

• Is your car built for speed? – The make and model of the car you are trying to find cheaper insurance for makes a huge difference in how high your rates are. Small economy passenger cars usually have the lowest rates, but there are many factors that impact the final cost.

  The following chart is based on a single female driver age 30, full coverage with $100 deductibles, and no discounts or violations. It compares Audi S5 car insurance rates compared to other models of vehicles that have different risk factors.

• Insurance premiums and driver gender – Over the last 50 years, statistics have shown that females take fewer risks when driving. The data does not necessarily mean that males are worse at driving than females. Both genders are responsible for accidents at about the same rate, but the males tend to have more serious accidents. Not only that, but men also receive more major tickets such as reckless driving.

  The illustration below illustrates the comparison of Audi S5 insurance premiums for male and female drivers. The price estimates are based on no claims, a clean driving record, full coverage, $500 deductibles, single marital status, and no other discounts are factored in.

• Audi S5 claim data – Companies include the past claim history for a vehicle when they set coverage costs for each model. Models that the statistics show to have high amounts or severity of claims will have increased rates. The table below shows the historical loss data for Audi S5 vehicles.

  For each coverage category, the statistical loss for all vehicles, regardless of make, model or trim level, is a value of 100. Numbers below 100 suggest a better than average loss history, while numbers that are greater than 100 point to more claims or a tendency for claims to be larger.

  
  

  Audi S5 Insurance Loss Statistics

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Audi S5 2dr 4WD	197	85	161	68
  Audi S5 Convertible 4WD	162	62	124

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Statistics from IIHS.org for 2013-2015 Model Years

Three reasons to not skimp on car insurance

Despite the high cost, car insurance is most likely required but also gives you several important benefits.

First, almost all states have minimum liability requirements which means the state requires a specific level of liability coverage in order to get the vehicle licensed. 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.

Second, if you have a lien on your S5, more than likely the lender will force you to carry insurance to ensure they get paid if you total the vehicle. If you do not pay your insurance premiums, the bank or lender will purchase a policy for your Audi at a more expensive rate and make you pay for it.

Third, car insurance preserves your Audi and your assets. It will also pay for medical bills for you, your passengers, and anyone else injured in an accident. As part of your policy, liability insurance also covers legal expenses if you are sued as the result of your driving. If your vehicle suffers damage from an accident or hail, comprehensive and collision coverage will pay to repair the damage minus the deductible amount.

The benefits of carrying adequate insurance definitely exceed the cost, especially for larger claims. Unknowingly, the average driver is overpaying more than $869 every year so compare rate quotes each time the policy renews to ensure rates are competitive.

Compare but don’t skimp

We just covered a lot of ways to shop for Audi S5 insurance online. The most important thing to understand is the more quotes you get, the better chance you’ll have of finding low cost Durham auto insurance quotes. Consumers could even find that the lowest priced car insurance comes from the smaller companies. Some small companies may often insure only within specific states and give better rates than their larger competitors like State Farm or Progressive.

When trying to cut insurance costs, don’t be tempted to skimp on critical coverages to save a buck or two. There are too many instances where someone sacrificed collision coverage and discovered at claim time that it was a big mistake. The aim is to buy enough coverage at the lowest possible cost, but do not skimp to save money.

Additional detailed information can be read at these sites:

• Teen Driving Statistics (iihs.org)
• Who Has Cheap Durham Auto Insurance Rates for a Chevrolet Silverado? (FAQ)
• How Much is Auto Insurance for Postal Workers in Durham? (FAQ)
• Who Has Cheap Auto Insurance Quotes for a Subaru Outback in Durham? (FAQ)
• Who Has Affordable Auto Insurance Rates for Safe Drivers in Durham? (FAQ)
• Who Has the Cheapest Car Insurance for Lyft Drivers in Durham? (FAQ)
• Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)
• Medical Payments Coverage (Liberty Mutual)
• Prepare your Teens for Safe Driving (InsureUonline.org)