If you want to find the absolute lowest rates, then the best way to get low-cost auto insurance rates in Charlotte is to annually compare prices from insurance carriers in North Carolina. Prices can be compared by following these guidelines.
First, try to comprehend how companies price auto insurance and the measures you can take to prevent expensive coverage. Many risk factors that drive up the price such as inattentive driving and a low credit rating can be controlled by making lifestyle changes or driving safer.
Second, compare prices from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give rate quotes from one company like GEICO and State Farm, while independent agents can quote rates for many different companies.
Third, compare the price quotes to your existing policy and see if there is a cheaper rate in Charlotte. If you can save some money and decide to switch, ensure there is no coverage lapse between policies.
A good tip to remember is to use the same physical damage deductibles and liability limits on each price quote and and to get quotes from as many companies as possible. Doing this guarantees a fair price comparison and the best price quote selection.
It’s hard to fathom, but most consumers in North Carolina have bought car insurance from the same company for at least the last four years, and nearly the majority have never quoted rates to find affordable coverage. U.S. drivers can cut their rates by as much as $859 a year by just comparing quotes, but they don’t want to take the time to compare rates.
It’s important to know that making a lot of price comparisons gives you a better chance of getting a lower rate. Not every company does online rate quotes, so you should also compare quotes from the smaller companies as well.
The companies in the list below can provide quotes in Charlotte, NC. If multiple companies are listed, we suggest you visit as many as you can to get the most competitive price.
Informed Decisions Result in Lower Insurance Prices
A large part of saving on auto insurance is knowing some of the elements that aid in calculating your policy premiums. If you understand what determines base rates, this enables informed choices that can help you get lower premium levels. Many factors are part of the calculation when you get a price on insurance. A few of the factors are predictable like a motor vehicle report, although some other factors are not quite as obvious such as whether you are married or your vehicle rating.
Shown below are some of the most common factors utilized by car insurance companies to help set prices.
- High premiums for teen drivers – Older drivers tend to be more responsible, tend to cause fewer accidents, and are safer drivers. Youthful drivers have a tendency to be more careless when at the wheel of a vehicle so they pay higher auto insurance rates.
- Lower stress equals lower rates – Do you work in a high-stress field? Careers like lawyers, police officers, and miners are shown to have higher rates than average because of intense work requirements and lengthy work days. On the other hand, careers like professors, engineers and performers have the lowest average rates.
- Multiple policies with one company can save – Most larger insurers apply better rates to clients who have multiple policies with them such as combining an auto and homeowners policy. The discount can be 10 percent or more. Even if you qualify for this discount already, you may still want to get quotes from other companies to make sure you are getting the best deal. Consumers may find a better deal even if you have your coverage with different companies
- Never go without auto insurance – Driving with no insurance is not a good idea and you may have a hard time finding new coverage because you let your insurance lapse for non-payment. Not only will you pay higher rates, not being able to provide proof of insurance may result in a steep fine or even jail time. You may then be required to file a SR-22 with the North Carolina motor vehicle department to get your license reinstated.
- Performance impacts costs – The performance level of the car, truck or SUV you are buying insurance for makes a big difference in your premium level. The lowest performance passenger cars generally receive the lowest base rates, but many other things help determine your insurance rates.
Loss statistics for a Chrysler 200 – Insurers take into consideration insurance loss statistics for every vehicle to calculate a price that offsets possible losses. Models that historically have higher losses will cost more for coverage.
The table shown below demonstrates the insurance loss data used by companies for Chrysler 200 vehicles. For each policy coverage type, the loss probability for all vehicles compiled together is equal to 100. Values below 100 indicate a favorable loss history, while numbers above 100 show a trend for more claims or an increased probability of a larger loss.
Chrysler 200 Insurance Loss Statistics Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Chrysler 200 2WD 117 113 116 174 189 152 Chrysler 200 4WD 117 112 108 127BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Car insurance just makes sense
Despite the high insurance cost for a Chrysler 200 in Charlotte, insuring your vehicle serves a purpose in several ways.
- Most states have mandatory liability insurance requirements which means you are required to buy a specific minimum amount of liability if you drive a 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 your 200 has a lienholder, it’s guaranteed your bank will stipulate that you buy full coverage to guarantee loan repayment. If you do not pay your insurance premiums, the bank may insure your Chrysler for a much higher rate and force you to pay a much higher amount than you were paying before.
- Insurance protects not only your vehicle but also your assets. Insurance will pay for all forms of medical expenses for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, will also pay for a defense attorney if you cause an accident and are sued. If damage is caused by hail or an accident, your policy will pay to restore your vehicle to like-new condition.
The benefits of having insurance definitely exceed the price paid, especially for larger claims. Despite what companies tell you, the average driver is currently overpaying as much as $825 a year so you should quote and compare rates once a year at a minimum to ensure rates are inline.