It’s easy to assume that auto insurance companies don’t want you to look at other companies. Insureds who shop around are very likely to switch auto insurance companies because they have a good chance of finding a more affordable policy. A recent survey found that drivers who shopped around annually saved about $70 a month compared to people who never compared prices.
If finding budget-friendly rates on auto insurance is the reason you’re reading this, knowing how to choose a company and compare insurance coverage can make it easier to shop your coverage around.
Truthfully, the best way to get low-cost Land Rover LR4 insurance is to start comparing prices regularly from companies who can sell car insurance in Durham. Price quotes can be compared by completing these steps.
Step 1: Try to learn a little about auto insurance and the steps you can take to prevent rate increases. Many factors that are responsible for high rates such as traffic citations and a poor credit score can be rectified by improving your driving habits or financial responsibility. Later in this article we will cover instructions to help prevent high rates and earn a bigger discount.
Step 2: Quote rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give prices from a single company like Progressive and State Farm, while independent agencies can provide rate quotes for a wide range of insurance providers.
Step 3: Compare the new quotes to the price on your current policy to see if switching to a new carrier will save money. If you find a better price, make sure there is no lapse in coverage.
Step 4: Give proper notification to your current agent or company of your intent to cancel the current policy. Submit payment along with a signed and completed policy application for the new policy. As soon as you receive it, place your new proof of insurance certificate with your registration paperwork.
A good tip to remember is that you’ll want to compare the same coverage limits and deductibles on each quote request and and to get price quotes from as many companies as you can. This ensures the most accurate price comparison and the best price selection.
When looking for low cost Durham auto insurance quotes, there are a couple ways to get quotes from many available auto insurance companies in North Carolina. The fastest way to find cheaper Land Rover LR4 rates is to perform an online rate comparison.
It’s so simple to compare auto insurance price quotes online makes it obsolete to spend your day driving to and from local Durham insurance agencies. The fact that you can get quotes online has reduced the need for local agents unless you prefer the professional guidance that you can only get from talking to an agent. Drivers can price shop your coverage online and have a local agent actually service the policy.
When comparing auto insurance rates, know that more quotes will increase your chances of finding the best price. Not every company provides rate quotes online, so it’s recommended that you also compare price quotes from them as well.
The companies in the list below are our best choices to provide comparison quotes in Durham, NC. If you want the best auto insurance in Durham, NC, we suggest you get rate quotes from several of them in order to get a fair rate comparison.
Three good reasons to insure your vehicle
Despite the high cost of buying insurance for a Land Rover LR4 in Durham, insuring your vehicle is not optional due to several reasons.
First, just about all states have minimum mandated liability insurance limits which means state laws require specific limits of liability coverage in order to drive the car legally. 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 took out a loan on your car, most banks will stipulate that you have physical damage coverage to ensure the loan is repaid in case of a total loss. If you default on your policy, the bank or lender will purchase a policy for your Land Rover at a more expensive rate and require you to pay the higher premium.
Third, car insurance preserves your vehicle and your assets. It also can pay for many types of medical costs incurred in an accident. One policy coverage, liability insurance, also pays for attorney fees and expenses if you are sued as the result of an accident. If your vehicle suffers damage from an accident or hail, your policy will pay to restore your vehicle to like-new condition.
The benefits of carrying adequate insurance greatly outweigh the cost, especially with large liability claims. According to a 2015 survey, the average American driver is overpaying over $869 every year so it’s very important to do a rate comparison at every policy renewal to save money.
Rates and other information
The price information displayed next outlines detailed analysis of insurance costs for Land Rover LR4 models. Having a better idea how insurance prices are established can assist in making smart policy decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| LR4 | $338 | $524 | $326 | $20 | $98 | $1,306 | $109 |
| LR4 HSE | $338 | $524 | $326 | $20 | $98 | $1,306 | $109 |
| LR4 HSE Plus | $338 | $594 | $326 | $20 | $98 | $1,376 | $115 |
| LR4 LUX | $370 | $594 | $326 | $20 | $98 | $1,408 | $117 |
| Get Your Own Custom Quote Go | |||||||
Prices based on single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Table data does not factor in specific location which can raise or lower coverage rates greatly.
Physical damage deductibles
One frequently asked question is where to set your physical damage deductibles. The rates below show the rate fluctuation between high and low insurance deductibles. The first data set uses a $100 physical damage coverage deductible and the second price grid uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| LR4 | $298 | $524 | $250 | $14 | $74 | $1,185 | $99 |
| LR4 HSE | $298 | $524 | $250 | $14 | $74 | $1,185 | $99 |
| LR4 HSE Plus | $298 | $594 | $250 | $14 | $74 | $1,255 | $105 |
| LR4 LUX | $324 | $594 | $250 | $14 | $74 | $1,281 | $107 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| LR4 | $164 | $276 | $250 | $14 | $74 | $778 | $65 |
| LR4 HSE | $164 | $276 | $250 | $14 | $74 | $778 | $65 |
| LR4 HSE Plus | $164 | $314 | $250 | $14 | $74 | $816 | $68 |
| LR4 LUX | $180 | $314 | $250 | $14 | $74 | $832 | $69 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Information does not factor in specific location which can decrease or increase coverage rates noticeably.
Using the premium rates above, we can conclude that using a $100 deductible will cost in the ballpark of $36 more each month or $432 a year across all Land Rover LR4 models than opting for the higher $1,000 deductible. Because you would pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to have at a minimum 25 months between claim filings, you would most likely save money by going with a higher deductible.
Calculate deductible break even point
| Average monthly premium for $100 deductibles: | $103 |
| Average monthly premium for $1,000 deductibles (subtract): | – $67 |
| Monthly savings from raising deductible: | $36 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $36 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 25 months |
One thing to be aware of is that higher deductibles means you will have to pay more when you do file a claim. You need to make sure you have access to more funds in the event you need to pay the higher deductible in order to repair your vehicle.
Cost of full coverage
The diagram below compares Land Rover LR4 insurance costs with liability coverage only compared to full coverage. The costs are based on no accidents, no driving violations, $100 deductibles, drivers are single, and no policy discounts are applied.
When to drop comprehensive and collision
There is no exact formula to stop buying comp and collision coverage, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than about 10% of the settlement you would receive from your company, then it might be time to buy liability only.
For example, let’s pretend your Land Rover LR4 settlement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $8,000 after the policy deductible has been paid. If premium cost is more than $800 a year for full coverage, then it’s probably a good time to buy liability coverage only.
There are a few cases where buying only liability insurance is not a good idea. If you haven’t satisfied your loan, you must maintain physical damage coverage in order to keep the loan. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should keep full coverage in place.
Lower rate quotes by taking advantage of discounts
Car insurance can cost a lot, but you may qualify for discounts that can help lower your rates. Some discounts apply automatically at the time you complete a quote, but a few must be asked about before being credited. If you’re not getting every credit available, it’s possible you qualify for a lower rate.
- Save with a New Car – Putting car insurance coverage on a new LR4 may earn a small discount due to better safety requirements for new vehicles.
- Seat Belt Usage – Drivers who always wear seat belts and also require passengers to use a seat belt can save up to 15% off the PIP or medical payment premium.
- Own a Home and Save – Owning a home in Durham can help you save on car insurance since owning and maintaining a home is proof that your finances are in order.
- Discounts for Multiple Vehicles – Drivers who insure all your vehicles with the same company qualifies for this discount.
- No Claims – Claim-free drivers get the best car insurance rates as compared to insureds who have frequent claims or accidents.
- Lower Rates for Military – Being deployed with a military unit may lower your prices slightly.
A quick disclaimer, most discount credits are not given to the overall cost of the policy. Most only cut specific coverage prices like collision or personal injury protection. So even though they make it sound like all those discounts means the company will pay you, nobody gets a free ride.
The information below compares Land Rover LR4 insurance premiums with and without discounts. The premium estimates are based on a male driver, no claims or driving citations, North Carolina state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, safe-driver, claim-free, multi-policy, multi-car, and marriage discounts applied.
If you would like to see a list of insurers with significant discounts in North Carolina, click this link.
Local neighborhood Durham car insurance agents
A lot of people would prefer to get advice from a local agent and that can be a great decision An additional benefit of comparing rates online is the fact that drivers can get lower rates and also buy local. Supporting local insurance agents is especially important in Durham.
Upon completion of this short form, the quote information is transmitted to agents in your area that provide free Durham auto insurance quotes for your business. There is no need to search for an agent because prices are sent instantly to you. You’ll get the best rates and an insurance agent to talk to. If for some reason you want to get a rate quote from a specific insurance company, you can always jump over to their website to submit a rate quote request.
Do you need an independent or exclusive auto insurance agent?
If you want to use a reliable insurance agency, there are a couple of types of insurance agents that you can choose from. Durham agents can be described as either independent (non-exclusive) or exclusive.
Independent Insurance Agents
Independent insurance agents are not employed by any specific company so they can quote policies with lots of companies and possibly get better coverage at lower prices. To move your coverage to a new company, they can switch companies in-house and you won’t have to switch agencies. When comparing rate quotes, we recommend you get rate quotes from at least one independent agent to maximize your price options.
Below are independent agents in Durham who may be able to give you free insurance rate quotes.
Tyson Insurance
3814 N Duke St # A – Durham, NC 27704 – (919) 471-8222 – View Map
Insurance Pros: Paradis James
3200 Croasdaile Dr # 603 – Durham, NC 27705 – (919) 294-6613 – View Map
Joshua E. Matthews Insurance Agency, Inc.
2144 Page Rd Suite 106 – Durham, NC 27703 – (919) 598-6800 – View Map
Exclusive Insurance Agents
These agents generally can only insure with one company and some examples include State Farm, AAA, and Liberty Mutual. Exclusive agents are unable to provide prices from multiple companies so it’s a take it or leave it situation. Exclusive agents are very knowledgeable on sales techniques which can be an advantage.
Below are exclusive agents in Durham that are able to give rate quotes.
Allstate Insurance Agent: Michael D. Maffeo
2705 N Duke St Ste 203 – Durham, NC 27704 – (919) 479-5085 – View Map
Zonya Autmon – State Farm Insurance Agent
2402 S Miami Blvd #103 – Durham, NC 27703 – (919) 993-3555 – View Map
Nationwide Insurance: M A Mansour
1209 University Dr – Durham, NC 27705 – (919) 797-0135 – View Map
Picking an insurance agency should include more criteria than just a cheap price. Any agent in Durham should be willing to answer these questions.
- Do they review policy coverages at every renewal?
- How long have they worked with personal auto insurance coverage?
- Do they specialize in personal lines coverage in Durham?
- Are there any extra charges for paying monthly?
- Is there a Errors and Omissions policy in force?
- Do the agents have professional certifications like CPCU or CIC?
- Do they have any clout with companies to ensure a fair claim settlement?
- By raising physical damage deductibles, how much would you save?
Insurance agents can help
When choosing adequate coverage, there isn’t really a best way to insure your cars. Everyone’s situation is a little different so your insurance should reflect that
For instance, these questions may help you determine whether your personal situation will benefit from professional help.
- What does roadside assistance cover?
- What is medical payments coverage?
- Is extra glass coverage worth it?
- How much will a speeding ticket raise my rates?
- Does every company file a SR-22 automatically?
- What is the premium to book value ratio for dropping full coverage?
- Should I put collision coverage on all my vehicles?
- Is my custom stereo system covered?
If you’re not sure about those questions, you might consider talking to an insurance agent. To find lower rates from a local agent, complete this form or go to this page to view a list of companies.
Don’t give up on cheaper rates
You just read some good ideas how to compare Land Rover LR4 insurance car insurance rates in Durham. The key thing to remember is the more you quote Durham auto insurance, the better chance you’ll have of finding cheaper Durham auto insurance quotes. Drivers may even discover the most savings is with some of the smallest insurance companies. They often have lower premium rates on specific markets than their larger competitors like Allstate, GEICO and Progressive.
A few companies do not provide rates over the internet and usually these smaller companies only sell through independent insurance agents. Lower-priced insurance in Durham is attainable from both online companies and with local Durham insurance agents, so you should compare both to have the best selection.
Additional insurance information is available below:
- Insurance Losses by Make and Model (iihs.org)
- How Much are Car Insurance Rates for Retired Military in Durham? (FAQ)
- Who Has Cheap Car Insurance for Inexperienced Drivers in Durham? (FAQ)
- Who Has Affordable Auto Insurance Quotes for a Nissan Altima in Durham? (FAQ)
- Who Has the Cheapest Car Insurance for Drivers Under 25 in Durham? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for a Ford Escape in Durham? (FAQ)
- What to do at the Scene of an Accident (Insurance Information Institute)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)