A recent study showed that most car insurance customers have been with the same company for at least four years, and nearly half have never compared rates from other carriers. North Carolina consumers could save an average of about 10% each year, but they assume it’s a waste of time to find cheap rates by getting comparison quotes.
The most effective way to find low-cost prices for auto insurance rates is to compare quotes annually from insurance carriers that sell auto insurance in Charlotte.
- Spend some time learning about how your policy works and the measures you can take to keep rates down. Many rating criteria that increase rates such as accidents, traffic tickets, and poor credit can be eliminated by paying attention to minor details.
- Request rate estimates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give prices from one company like Progressive or State Farm, while independent agents can provide rate quotes for a wide range of companies.
- Compare the new rate quotes to your existing rates and see if you can save money. If you find a lower rate, make sure the effective date of the new policy is the same as the expiration date of the old one.
The key thing to know about shopping around is to use the same amount of coverage on each quote and and to look at as many companies as possible. Doing this guarantees a fair price comparison and a better comparison of the market.
If you have a policy now or just want to reduce your rates, use these cost-cutting techniques to get lower rates and still have adequate protection. Finding and comparing the best-priced insurance coverage in Charlotte is not as time-consuming as you think. Vehicle owners just need to use the proper methods to buy insurance from many different companies.
The following companies have been selected to offer quotes in North Carolina. To buy the best cheap car insurance in Charlotte, it’s a good idea that you visit several of them to find the most competitive auto insurance rates.
Car insurance policy discounts you can’t miss
Car insurance can cost a lot, but you can get discounts that many people don’t even know exist. Most are applied at the time you complete a quote, but some discounts are required to be asked about before you get the savings.
- Driver’s Education for Students – Reduce the cost of insurance for teen drivers by having them complete a driver education course if offered at their school.
- Theft Deterrent – Cars equipped with anti-theft or alarm systems have a lower chance of being stolen and qualify for as much as a 10% discount.
- Discounts for Good Drivers – Accident-free drivers could pay up to 40% less than their less cautious counterparts.
- Accident Forgiveness Coverage – Not necessarily a discount, but some insurance companies allow you one accident before your rates go up so long as you haven’t had any claims for a certain period of time.
- Online Discount – A handful of companies will provide an incentive for completing your application on their website.
- Own a Home – Being a homeowner can save a few bucks because of the fact that having a home is proof of financial responsibility.
- Discount for Low Mileage – Low annual miles can earn discounted premium rates on garaged vehicles.
A little disclaimer on discounts, most discount credits are not given to your bottom line cost. Some only reduce specific coverage prices like physical damage coverage or medical payments. So even though they make it sound like it’s possible to get free car insurance, companies wouldn’t make money that way.
Some companies that have some of the above discounts are:
When quoting, ask each company or agent which discounts you qualify for. Savings may not be offered in Charlotte.
How You Can Control Tesla Model S Insurance Rates
The best way to find cheaper insurance is to take a look at the factors that are used to determine the level of your policy premiums. When you know what positively or negatively controls the rates you pay, this allows you to make educated decisions that can help you get lower rates. Many factors are part of the equation when you quote your car insurance policy. Some are pretty understandable such as your driving record, but some are not quite as obvious such as your credit history or your vehicle rating.
The items below are most of the major factors that factor into your rate level.
More traffic means higher claims – Being located in less populated areas of the country has it’s advantages when shopping for auto insurance. Drivers in populated areas have to deal with more auto accidents and much longer commute distances. Lower population means less chance of accidents as well as less vandalism and auto theft.
Prices also based on gender – The statistics show women tend to be less risk to insure than men. The data does not necessarily mean that females are better drivers. Both genders have auto accidents at a similar rate, but the males have accidents that have higher claims. Not only that, but men also get ticketed for serious violations like driving under the influence (DUI). Youthful male drivers tend to get in the most accidents and therefore pay the highest rates.
Safer vehicles mean better insurance rates – Vehicles with high crash test scores cost less to insure. The safest vehicles protect occupants better and fewer serious injuries means your insurance company pays less and lower rates for you.
Decrease prices by maintaining coverage – Having a gap between insurance policy dates is a sure-fire way to increase your insurance rates. Not only will you pay higher rates, not being able to provide proof of insurance will get you a license revocation or jail time.
Tesla Model S insurance loss statistics – Insurers use past insurance losses to help calculate premium rates. Vehicles that have higher prevalence or dollar amount of losses will have a higher cost to insure.
The table below outlines the collected loss data for Tesla Model S vehicles. For each insurance policy coverage type, the claim probability for all vehicles, regardless of make or model, is equal to 100. Percentage values below 100 are indicative of better than average losses, while values that are 100 or greater point to more claims or an increased likelihood of larger losses.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Tesla Model S 4dr Electric 2WD||324||116||208||39||46||104|
|Tesla Model S 4dr Electric 4WD||333|
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years