The best way we recommend to get affordable car insurance rates in Durham is to compare prices regularly from companies in North Carolina. Rates can be compared by following these steps.
- Step 1: Try to understand how car insurance works and the measures you can take to lower rates. Many rating criteria that result in higher prices like accidents, traffic tickets, and a low credit score can be eliminated by making lifestyle changes or driving safer. This article provides additional ideas to help reduce prices and get additional discounts that may have been overlooked.
- Step 2: Request rate estimates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give prices from one company like GEICO and State Farm, while independent agents can provide rate quotes for a wide range of companies. View insurance agents
- Step 3: Compare the quotes to the premium of your current policy and determine if there is any savings. If you can save money and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
The critical component of shopping around is that you’ll want to make sure you compare the same deductibles and limits on each quote request and and to get quotes from as many companies as feasibly possible. Doing this provides an apples-to-apples comparison and the most accurate and complete price analysis.
It’s an obvious assumption that insurance companies don’t want policyholders to shop around. Consumers who compare other rates will probably switch car insurance companies because there is a great chance of finding a policy with more affordable rates. Remarkably, a study showed that drivers who made a habit of comparing rate quotes saved over $860 a year compared to drivers who never compared rates.
If finding the most affordable car insurance in Durham is the reason for your visit, learning how to quote prices and compare insurance premiums can save time and money.
If you currently have car insurance, you will most likely be able to buy cheaper car insurance using this strategy. Locating the most cost-effective car insurance policy in Durham is actually very simple if you learn how to start. Although North Carolina consumers must know how insurance companies price online insurance and use it to find better rates.
Car insurance statistics and figures
The premium information shown below covers a range of insurance costs for Hyundai Sonata models. Understanding how auto insurance prices are figured can help guide drivers when making informed decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Sonata GLS 4-Dr Sedan | $206 | $438 | $366 | $22 | $110 | $1,142 | $95 |
| Sonata GLS 4-Dr Sedan | $206 | $438 | $366 | $22 | $110 | $1,142 | $95 |
| Sonata GLS 4-Dr Sedan | $206 | $438 | $366 | $22 | $110 | $1,142 | $95 |
| Sonata SE 4-Dr Sedan | $206 | $516 | $366 | $22 | $110 | $1,220 | $102 |
| Sonata SE 4-Dr Sedan | $206 | $516 | $366 | $22 | $110 | $1,220 | $102 |
| Sonata Limited 4-Dr Sedan | $232 | $516 | $366 | $22 | $110 | $1,246 | $104 |
| Sonata Limited 4-Dr Sedan | $232 | $516 | $366 | $22 | $110 | $1,246 | $104 |
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Data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Table data does not factor in specific garaging location which can impact insurance rates greatly.
Drive safe and save
The chart below illustrates how violations and accidents can influence Hyundai Sonata insurance costs for different age groups of insureds. The price estimates are based on a single female driver, comp and collision included, $500 deductibles, and no discounts are applied.
Gender-based car insurance rates by age
The illustration below illustrates the difference between Hyundai Sonata insurance costs for male and female drivers. Data assumes a clean driving record, no claims, comp and collision included, $100 deductibles, single marital status, and no discounts are applied.
Liability only or full coverage
The diagram below visualizes the comparison of Hyundai Sonata car insurance costs when comparing full coverage to state minimum liability only. The information is based on no violations or claims, $500 deductibles, single marital status, and no discounts are applied.
When to stop paying for full coverage
There is no written rule of when to stop paying for physical damage insurance, but there is a guideline you can consider. If the yearly cost for physical damage coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s pretend your Hyundai Sonata book value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would receive is $6,000 after paying your policy deductible. If you are paying over $600 a year for physical damage coverage, then it might be time to buy liability only.
There are some circumstances where removing full coverage is not a good plan. If you have an outstanding loan on your vehicle, you have to maintain full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not consider dropping full coverage.
Decisions You Make Can Impact Your Insurance Prices
Multiple criteria are part of the equation when you quote your car insurance policy. Some of the criteria are obvious such as your driving record, but other factors are not as apparent such as your marital status or how financially stable you are. The best way to find cheaper insurance is to take a look at some of the things that are used to determine the price you pay for insurance. When you know what positively or negatively determines base rates, this enables informed choices that may result in better insurance rates.
The itemized list below are some of the most rate-impacting factors that factor into your premiums.
Rural areas have lower rates – Residing in a rural area has it’s advantages when buying insurance. Fewer drivers translates into fewer accident claims and lower theft and vandalism rates. Urban drivers tend to have more auto accidents and a longer drive to work. The longer drive time means higher likelihood of an accident.
File insurance claims and pay more – Auto insurance companies in North Carolina provide the lowest premiums to policyholders who do not file claims often. If you are a frequent claim filer, you can definitely plan on either policy cancellation or increased premiums. Your insurance policy is designed for claims that you cannot pay yourself.
Raising physical damage deductibles saves money – Physical damage protection, also called comprehensive and collision insurance, is used to repair damage to your Hyundai. Examples of some claims that would be covered would be a broken windshield, flood damage, and rolling your vehicle. The deductibles represent how much money you are willing to pay if a claim is determined to be covered. The higher the amount you’re willing to pay, the lower your rates will be.
Deter car thieves – Selecting a car model with a theft deterrent system can save you some money. Theft deterrent systems like OnStar, LoJack tracking, and tamper alarms can help prevent your vehicle from being stolen.
How much liability coverage do you need? – The liability coverage on your policy will afford coverage if ever you are responsible for personal injury or accident damage. Liability provides you with a defense in court which can cost a lot. Liability insurance is quite affordable compared to other policy coverages, so do not skimp.
Hyundai Sonata historical loss data – Insurance companies factor in insurance loss information in order to profitably underwrite each model. Models that statistically have a trend towards higher claim severity or frequency will cost more for coverage. The next table illustrates the loss history for Hyundai Sonata vehicles.
For each type of coverage, the loss probability for all vehicles averaged together is represented as 100. Values below 100 indicate a favorable loss history, while percentages above 100 point to more claims or statistically larger claims.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Hyundai Sonata | 129 | 88 | 101 | 138 | 149 | 110 |
| Hyundai Sonata Hybrid | 142 | 116 | 119 | 124 | 138 | 121 |
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Cheap car insurance rates are possible
Some insurance providers don’t offer the ability to get a quote online and most of the time these small insurance companies provide coverage only through independent insurance agencies. Cheap Hyundai Sonata insurance in Durham can be sourced from both online companies in addition to local insurance agencies, so you need to compare both to have the best selection.
We covered many tips how you can get a better price on Hyundai Sonata insurance in Durham. The key concept to understand is the more providers you compare, the more likely it is that you will get a better rate. Consumers could even find that the most savings is with some of the lesser-known companies. Regional companies may only write in your state and offer lower auto insurance rates than the large multi-state companies such as State Farm, GEICO and Nationwide.
Additional information is available at the links below
- Auto Crash Statistics (Insurance Information Institute)
- Who Has Cheap Durham Auto Insurance for Drivers with Accidents? (FAQ)
- Who Has Cheap Durham Auto Insurance Rates for High Risk Drivers? (FAQ)
- How Much are Auto Insurance Rates for 19 Year Olds in Durham? (FAQ)
- Who Has the Cheapest Durham Car Insurance Quotes for Homeowners? (FAQ)
- Who Has Affordable Auto Insurance for Seniors in Durham? (FAQ)
- Who Has the Cheapest Durham Auto Insurance Quotes for Infrequent Drivers? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Teenage Males in Durham? (FAQ)
- Who Has Cheap Durham Auto Insurance Quotes for Drivers Over Age 50? (FAQ)
- Steps to Take After an Auto Accident (Insurance Information Institute)
- Teen Driving and Texting (State Farm)