A recent study showed that the vast majority of insurance customers have purchased from the same company for at least the last four years, and nearly 40% of drivers have never even compared rates from other companies. With the average insurance premium being $980, Charlotte drivers could save themselves as much as $90 a year, but they just don’t understand how easy it is to compare rate quotes online.
The preferred way to get cheaper car insurance rates is to begin comparing prices regularly from insurance carriers who sell auto insurance in Charlotte. Drivers can shop around by following these steps.
- Read about the coverage provided by your policy and the measures you can take to drop your rates. Many risk factors that drive up the price such as traffic violations and an unfavorable credit rating can be improved by making minor driving habit or lifestyle changes. Continue reading for additional ideas to help reduce premium rates and find available discounts that you may qualify for.
- Get rate quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can provide rates from one company like GEICO and State Farm, while independent agencies can give you price quotes from many different companies.
- Compare the quotes to your current policy and see if there is a cheaper rate. If you find a lower rate and buy the policy, ensure there is no coverage lapse between policies.
- Provide notification to your current company to cancel your current policy. Submit the required down payment along with the signed application for your new policy. As soon as coverage is bound, keep your new certificate verifying proof of insurance above your visor, in the console, or in the glove compartment.
A good tip to remember is to make sure you’re comparing identical coverage information on every price quote and and to get rate quotes from every company you can. This guarantees a level playing field and maximum price selection.
If you are insured now or just want a better rate, you can learn to reduce the price you pay without reducing coverage. This article’s intent is to teach you a little about how car insurance companies work and also save some money in the process Smart buyers just have to understand the fastest way to shop using one simple form.
Analysis of coverages
The coverage information shown next covers estimates of prices for Chrysler 300 models. Being more informed about how policy rates are calculated is important for you to make smart choices when selecting a coverage provider.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 300 Touring 4-Dr Sedan | $168 | $318 | $234 | $14 | $70 | $804 | $67 |
| 300 Touring Plus 4-Dr Sedan | $168 | $318 | $234 | $14 | $70 | $804 | $67 |
| 300 Touring AWD 4-Dr | $168 | $318 | $234 | $14 | $70 | $804 | $67 |
| 300 S V6 4-Dr Sedan | $168 | $318 | $234 | $14 | $70 | $804 | $67 |
| 300 Touring Signature 4-Dr Sedan | $168 | $318 | $234 | $14 | $70 | $804 | $67 |
| 300 Touring Executive 4-Dr Sedan | $168 | $318 | $234 | $14 | $70 | $804 | $67 |
| 300 Touring Signature AWD 4-Dr | $186 | $366 | $234 | $14 | $70 | $870 | $73 |
| 300 Limited 4-Dr Sedan | $186 | $366 | $234 | $14 | $70 | $870 | $73 |
| 300 C 4-Dr Sedan | $186 | $366 | $234 | $14 | $70 | $870 | $73 |
| 300 S V8 4-Dr Sedan | $186 | $366 | $234 | $14 | $70 | $870 | $73 |
| 300 Limited AWD 4-Dr | $186 | $366 | $234 | $14 | $70 | $870 | $73 |
| 300 C AWD 4-Dr | $186 | $366 | $234 | $14 | $70 | $870 | $73 |
| 300 SRT-8 4-Dr Sedan | $186 | $366 | $234 | $14 | $70 | $870 | $73 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, multi-vehicle, and claim-free. Price information does not factor in specific location which can change rates considerably.
Raise deductibles and save
When buying insurance, a common question is how high or low should comp and collision deductibles be. The comparisons below can help you understand the cost difference of buying low and high coverage deductibles. The first set of rates uses a $100 comprehensive and collision deductible and the second price grid uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 300 Touring 4-Dr Sedan | $242 | $456 | $250 | $14 | $74 | $1,061 | $88 |
| 300 Touring Plus 4-Dr Sedan | $242 | $456 | $250 | $14 | $74 | $1,061 | $88 |
| 300 Touring AWD 4-Dr | $242 | $456 | $250 | $14 | $74 | $1,061 | $88 |
| 300 S V6 4-Dr Sedan | $242 | $456 | $250 | $14 | $74 | $1,061 | $88 |
| 300 Touring Signature 4-Dr Sedan | $242 | $456 | $250 | $14 | $74 | $1,061 | $88 |
| 300 Touring Executive 4-Dr Sedan | $242 | $456 | $250 | $14 | $74 | $1,061 | $88 |
| 300 Touring Signature AWD 4-Dr | $270 | $524 | $250 | $14 | $74 | $1,157 | $96 |
| 300 Limited 4-Dr Sedan | $270 | $524 | $250 | $14 | $74 | $1,157 | $96 |
| 300 C 4-Dr Sedan | $270 | $524 | $250 | $14 | $74 | $1,157 | $96 |
| 300 S V8 4-Dr Sedan | $270 | $524 | $250 | $14 | $74 | $1,157 | $96 |
| 300 Limited AWD 4-Dr | $270 | $524 | $250 | $14 | $74 | $1,157 | $96 |
| 300 C AWD 4-Dr | $270 | $524 | $250 | $14 | $74 | $1,157 | $96 |
| 300 SRT-8 4-Dr Sedan | $270 | $524 | $250 | $14 | $74 | $1,157 | $96 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 300 Touring 4-Dr Sedan | $134 | $240 | $250 | $14 | $74 | $712 | $59 |
| 300 Touring Plus 4-Dr Sedan | $134 | $240 | $250 | $14 | $74 | $712 | $59 |
| 300 Touring AWD 4-Dr | $134 | $240 | $250 | $14 | $74 | $712 | $59 |
| 300 S V6 4-Dr Sedan | $134 | $240 | $250 | $14 | $74 | $712 | $59 |
| 300 Touring Signature 4-Dr Sedan | $134 | $240 | $250 | $14 | $74 | $712 | $59 |
| 300 Touring Executive 4-Dr Sedan | $134 | $240 | $250 | $14 | $74 | $712 | $59 |
| 300 Touring Signature AWD 4-Dr | $150 | $276 | $250 | $14 | $74 | $764 | $64 |
| 300 Limited 4-Dr Sedan | $150 | $276 | $250 | $14 | $74 | $764 | $64 |
| 300 C 4-Dr Sedan | $150 | $276 | $250 | $14 | $74 | $764 | $64 |
| 300 S V8 4-Dr Sedan | $150 | $276 | $250 | $14 | $74 | $764 | $64 |
| 300 Limited AWD 4-Dr | $150 | $276 | $250 | $14 | $74 | $764 | $64 |
| 300 C AWD 4-Dr | $150 | $276 | $250 | $14 | $74 | $764 | $64 |
| 300 SRT-8 4-Dr Sedan | $150 | $276 | $250 | $14 | $74 | $764 | $64 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, multi-policy, and claim-free. Premium costs do not factor in specific Charlotte garaging location which can change coverage rates substantially.
We can derive from the above data that using a $100 deductible will cost you about $30 more each month or $360 each year than quoting the higher $1,000 deductible. Because you would be required to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you usually have more than 30 months between claim filings, you would most likely save money by selecting a higher deductible.
The illustration below shows how different deductible levels and can raise or lower Chrysler 300 insurance rates for different age categories. The premium estimates are based on a married male driver, full physical damage coverage, and no discounts are applied to the premium.
Charlotte auto insurance discounts
Some insurers don’t necessarily list every policy discount very clearly, so the next list breaks down both well-publicized in addition to some of the lesser obvious ways to save on auto insurance. If they aren’t giving you every credit you deserve, you are paying more than you should be.
- Include Life Insurance and Save – Larger insurance carriers have a break if you buy a life insurance policy as well.
- Active Service Discounts – Being deployed in the military could qualify you for better prices.
- Discount for Home Ownership – Owning a house in Charlotte can get you a discount because it shows financial diligence.
- Accident Forgiveness – Not a discount per se, but companies like State Farm and Allstate allow you one accident before hitting you with a surcharge with the catch being you have to be claim-free for a specific time period.
- Discount for New Cars – Insuring a vehicle that is new can get you a discount due to better safety requirements for newer vehicles.
Don’t be shocked that most discount credits are not given to the entire policy premium. Most only cut the price of certain insurance coverages like comprehensive or collision. Just because it seems like you could get a free auto insurance policy, it’s just not the way it works.
The diagram below shows the comparison of Chrysler 300 yearly insurance costs with and without some available policy discounts. The information is based on a female driver, a clean driving record, no claims, North Carolina state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, multi-car, marriage, multi-policy, and claim-free discounts applied.
Larger auto insurance companies and some of their more popular discounts are detailed below.
- Mercury Insurance includes discounts for professional/association, multi-car, good driver, low natural disaster claims, anti-theft, accident-free, and location of vehicle.
- Farmers Insurance offers discounts including bundle discounts, distant student, early shopping, multi-car, business and professional, and teen driver.
- Farm Bureau offers premium reductions for 55 and retired, multi-policy, driver training, youthful driver, multi-vehicle, renewal discount, and safe driver.
- State Farm may include discounts for good student, Steer Clear safe driver discount, good driver, anti-theft, multiple policy, passive restraint, and safe vehicle.
- Allstate may have discounts that include farm vehicle, resident student, senior citizen, EZ pay plan discount, and premier discount.
- GEICO has discounts for seat belt use, anti-theft, good student, multi-policy, membership and employees, defensive driver, and emergency military deployment.
When comparing rates, check with all the companies how many discounts you can get. Some of the discounts discussed earlier may not apply to policies in Charlotte.
Car insurance coverage breakdown
Understanding the coverages of your policy helps when choosing the right coverages and proper limits and deductibles. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording.
Collision coverage – This coverage will pay to fix damage to your 300 from colliding with another car or object. A deductible applies and then insurance will cover the remainder.
Collision can pay for things like backing into a parked car, damaging your car on a curb, hitting a parking meter, colliding with another moving vehicle and rolling your car. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. It’s also possible to bump up the deductible on your 300 to get cheaper collision coverage.
Auto liability insurance – Liability coverage protects you from damages or injuries you inflict on people or other property in an accident. This coverage protects you against claims from other people. Liability doesn’t cover your injuries or vehicle damage.
Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 30/60/25 that means you have $30,000 bodily injury coverage, a limit of $60,000 in injury protection per accident, and property damage coverage for $25,000. Some companies may use one number which is a combined single limit which provides one coverage limit rather than limiting it on a per person basis.
Liability can pay for things such as medical services, court costs, pain and suffering and structural damage. How much coverage you buy is up to you, but buy higher limits if possible. North Carolina requires drivers to carry at least 30/60/25 but you should consider buying more liability than the minimum.
The chart below demonstrates why minimum state limits may not be enough.
Comprehensive (Other than Collision) – Comprehensive insurance pays to fix your vehicle from damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.
Comprehensive coverage pays for things like falling objects, theft and hail damage. The most a car insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Medical expense insurance – Medical payments and Personal Injury Protection insurance pay for bills for things like surgery, EMT expenses and dental work. They are often used in conjunction with a health insurance program or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage
Protection from uninsured/underinsured drivers – Uninsured or Underinsured Motorist coverage gives you protection when other motorists either have no liability insurance or not enough. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your Chrysler 300.
Because many people have only the minimum liability required by law (North Carolina limits are 30/60/25), their limits can quickly be used up. So UM/UIM coverage is important protection for you and your family. Usually these coverages are identical to your policy’s liability coverage.
Frequent quotes can save
Some insurance companies may not have the ability to get a quote online and usually these regional insurance providers provide coverage only through independent insurance agencies. More affordable insurance in Charlotte can be found online and with local Charlotte insurance agents, and you should be comparing both to have the best rate selection.
In this article, we presented many ways to reduce Chrysler 300 insurance prices online in Charlotte. The key concept to understand is the more providers you compare, the higher the chance of saving money. Drivers may even discover the most savings is with some of the smallest insurance companies.
Drivers who switch companies do it for many reasons like delays in paying claims, unfair underwriting practices, not issuing a premium refund and even high prices. Regardless of your reason for switching companies, choosing a new insurance company is pretty simple and you could end up saving a buck or two.
For more information, feel free to visit the resources below:
- What is Full Coverage? (Allstate)
- Who Has Affordable Auto Insurance Quotes for Lyft Drivers in Charlotte? (FAQ)
- Who Has Affordable Charlotte Auto Insurance Rates for Drivers Under 25? (FAQ)
- What Insurance is Cheapest for a Ford Fusion in Charlotte? (FAQ)
- Child Safety FAQ (iihs.org)
- Booster Seat Ratings (iihs.org)
- Liability Insurance Coverage (Nationwide)