Nobody likes paying for auto insurance, particularly when the cost is too high. You have so many auto insurance companies to insure vehicles with, and though it is a good thing to be able to choose, too many choices makes it more difficult to compare rates.
Buying cheaper protection in Cary is not that difficult. If you have a policy now or are shopping for new coverage, you will benefit by learning to find the best rates and still get good coverage. North Carolina drivers only need an understanding of the most effective way to get comparison quotes on the web.
Are you getting all your discounts?
Properly insuring your vehicles can get expensive, but there could be available discounts to cut the cost considerably. Certain discounts will be triggered automatically at the time of quoting, but a few must be specifically requested before they will apply. If you’re not getting every credit possible, you are paying more than you should be.
- Bundle and Save – When you combine your home and auto insurance with one insurance company you could get a discount of approximately 10% to 15%.
- More Vehicles More Savings – Buying insurance for multiple cars or trucks on the same auto insurance policy may reduce the rate for each vehicle.
- Accident Forgiveness – A few companies will forgive one accident before raising your premiums as long as you don’t have any claims for a particular time prior to the accident.
- Anti-lock Brake System – Vehicles equipped with ABS or steering control can reduce accidents and therefore earn up to a 10% discount.
- Distant Student – Any of your kids who live away from home and do not have access to a covered vehicle may be able to be covered for less.
- Claim Free – Drivers with accident-free driving histories pay less when compared to frequent claim filers.
- Passive Restraints and Air Bags – Vehicles with factory air bags or motorized seat belts can receive discounts of more than 20%.
- Theft Prevention Discount – Anti-theft and alarm systems can help prevent theft and earn discounts up to 10%.
As a disclaimer on discounts, most discount credits are not given to all coverage premiums. Most cut the price of certain insurance coverages like liability and collision coverage. So when the math indicates you could get a free auto insurance policy, it doesn’t quite work that way. Any qualifying discounts will bring down the cost of coverage.
To see a list of insurance companies with discount auto insurance rates in North Carolina, click here to view.
Auto insurance coverage considerations
Understanding the coverages of a auto insurance policy can be of help when determining which coverages you need and the correct deductibles and limits. The terms used in a policy can be ambiguous and nobody wants to actually read their policy. Listed below are the normal coverages found on most auto insurance policies.
Collision coverages – This coverage pays for damage to your vehicle from colliding with another car or object. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage protects against claims such as driving through your garage door, backing into a parked car, rolling your car and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. Drivers also have the option to raise the deductible to get cheaper collision coverage.
Liability auto insurance – This coverage will cover damage that occurs to other people or property by causing an accident. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 100/300/100 which means a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged propery. Alternatively, you may have one number which is a combined single limit which provides one coverage limit rather than limiting it on a per person basis.
Liability coverage protects against things like pain and suffering, loss of income and funeral expenses. The amount of liability coverage you purchase is a personal decision, but buy higher limits if possible. North Carolina requires drivers to carry at least 30,000/60,000/25,000 but you should think about purchasing higher limits.
UM/UIM (Uninsured/Underinsured Motorist) coverage – Your UM/UIM coverage protects you and your vehicle’s occupants from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include injuries to you and your family as well as your vehicle’s damage.
Due to the fact that many North Carolina drivers only carry the minimum required liability limits (30/60/25), it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Most of the time the UM/UIM limits are identical to your policy’s liability coverage.
Comprehensive auto coverage – Comprehensive insurance coverage covers damage that is not covered by collision coverage. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against things like damage from a tornado or hurricane, hail damage and a broken windshield. The maximum payout a auto insurance company will pay at claim time is the actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Medical payments and PIP coverage – Med pay and PIP coverage reimburse you for bills for hospital visits, EMT expenses and prosthetic devices. They are often used to cover expenses not covered by your health insurance policy or if you do not have health coverage. Coverage applies to you and your occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay
More sites with auto insurance information
Much more information about auto insurance in North Carolina is located on the website for the North Carolina Department of Insurance through this link. North Carolina consumers can read industry bulletins, read enforcement actions against agents and companies, and read consumer alerts.
Buy online or local, you save
Affordable auto insurance can be bought from both online companies as well as from independent agents in Cary, and you need to comparison shop both in order to have the best price selection to choose from. Some companies don’t offer online quoting and usually these regional insurance providers provide coverage only through local independent agents.
We just showed you quite a bit of information on how to save on auto insurance. It’s most important to understand that the more companies you get rates for, the better your comparison will be. Consumers may even find the biggest savings come from some of the smallest insurance companies. Smaller companies may cover specific market segments cheaper than their larger competitors like State Farm and Allstate.
While you’re price shopping online, do not buy less coverage just to save a little money. There are many occasions where someone sacrificed liability limits or collision coverage and found out when filing a claim that it was a big mistake. Your aim should be to buy the best coverage you can find at an affordable rate while still protecting your assets.