What is the Cheapest Car Insurance in Greensboro, North Carolina?

For drivers in Greensboro, one of the largest components that are looked at to determine the amount you pay for auto insurance is where you live. Larger areas will most likely have higher rates, whereas areas that tend to be more rural tend to receive cheaper rates.

The information below ranks the highest-priced areas in North Carolina to buy an auto insurance policy in. Greensboro is listed at #7 with a yearly cost of $779 for the average policy, which is about $65 monthly.

Rates are estimated as the specific area where the vehicle is garaged can alter premium rates substantially.

Considering where Greensboro ranks based on price, trying to buy budget car insurance is not most people’s favorite thing to do, and finding out which companies quote the most affordable auto insurance rates in Greensboro requires even more perseverance. Every auto insurer has a proprietary method for determining rates, so let’s begin by examining the auto insurance companies that tend to have lower prices in Greensboro, NC.

It’s important that you understand Greensboro auto insurance rates are calculated based on many things which can substantially decrease or increase the policy price. Improving your credit score, getting married, or getting a ticket for running a stop sign may cause policy rate changes that can now make some companies way too expensive in comparison to the competition.

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Progressive generally has some of the cheapest car insurance rates in Greensboro at around $632 a year. This is $240 less than the average premium paid by North Carolina drivers of $872. Utica National, NC Farm Bureau, Liberty Mutual, and Penn National would also make the list of some of the more affordable Greensboro, NC insurance companies.

In the rate table above, if you currently have a policy with Liberty Mutual and switched to Utica National, you might achieve an annual savings of in the vicinity of $66. Drivers with Penn National might save as much as $70 a year, and Titan policyholders might lower prices by $74 a year.

To find cheaper insurance rates for your vehicle, click here to begin a quote or visit any of the low-priced companies below.

It’s important to note that these policy prices are averages for all drivers and vehicles in North Carolina and do not factor in a vehicle location in Greensboro. So the auto insurance company that has the lowest price for you may not even be in the top 20 companies shown above. That illustrates why you need to get quotes using your own driver and vehicle profiles.

The vehicle model to be insured is probably the biggest factor when looking for the most affordable insurance in Greensboro. Vehicles with lots of speed or power, poor safety ratings, or an increased likelihood of liability claims will cost substantially more to insure than more modest models.

The information below features car insurance prices for a handful of the more affordable automobiles to buy coverage for.

Prices above based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Premium costs do not factor in garaging location in Greensboro, NC which can increase or decrease auto insurance rates greatly.

Looking at the rates, you can infer that cars like the Honda Accord, Ford Escape, Honda CR-V, and Honda Odyssey are most likely to be a few of the most economical vehicles to insure for drivers in Greensboro.

Should you buy full coverage?

Lowering the price of car insurance is probably important to most people, and one great way to buy cheap insurance in Greensboro is to not pay for full coverage. The chart below shows the comparison of car insurance costs with full physical damage coverage compared to only buying liability only. The data is based on no tickets, no at-fault accidents, $1,000 deductibles, single status, and no other discounts are factored in.

As an average for all age groups, comp and collision coverage costs $1,420 per year more than just insuring for liability. At some point, almost every driver questions if you should buy full coverage at all. There is no clear-cut rule for eliminating physical damage insurance, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is 10% or more of the settlement you would receive from your company, then it could be time to drop full coverage.

For example, let’s pretend your vehicle’s book value is $8,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would receive is $7,000 after the policy deductible has been paid. If you are paying more than $700 annually for your policy with full coverage, then you might want to consider buying only liability coverage.

There are some circumstances where removing full coverage is not advised. If you still have a loan on your vehicle, you must maintain physical damage 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 totaled, you should keep full coverage in place.

Get discount Greensboro auto insurance

Auto insurance companies that offer coverage in Greensboro could also offer price discounts that could reduce prices by as much as 40% or more if you meet specific criteria. A few of the larger companies and their possible discounts are outlined below.

• Progressive offers discounts for online quote discount, homeowner, multi-vehicle, good student, continuous coverage, online signing, and multi-policy.
• Farmers Insurance has discounts for early shopping, switch companies, homeowner, alternative fuel, multi-car, teen driver, and mature driver.
• Farm Bureau offers premium reductions for renewal discount, youthful driver, 55 and retired, driver training, multi-vehicle, and good student.
• State Farm discounts include Drive Safe & Save, good driver, safe vehicle, anti-theft, and multiple autos.
• GEICO may include discounts for defensive driver, five-year accident-free, daytime running lights, federal employee, and seat belt use.
• SAFECO may offer discounts for multi-car, teen safety rewards, bundle discounts, drive less, safe driver, and teen safe driver.
• Liberty Mutual policyholders can earn discounts including hybrid vehicle, new graduate, multi-policy, multi-car, and new vehicle discount.

The diagram below illustrates the comparison of premium costs with and without discounts applied to the rates. The data is based on a female driver, no accidents or driving violations, North Carolina state minimum liability limits, comp and collision included, and $100 deductibles.

The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with accident-free, multiple vehicle, claim-free, defensive driving course, safe-driver, and homeowner discounts applied. When discounts are factored in, theamount saved on car insurance in Greensboro is 27% or $372.

How to find low-cost car insurance in Greensboro

The list below summarizes some of the better thrifty ideas that can help Greensboro drivers quote more affordable auto insurance.

• Do not waste money insuring older vehicles for full coverage
• Avoid speeding and other traffic citations and pay less
• Maintain a safe distance and avoid accidents
• Buy safe vehicles
• Raise physical damage deductibles
• Drivers with good credit often pay less
• Compare rates regularly and switch companies to save money

The last idea is extremely valuable, as was affirmed in this piece. Auto insurance rates can be modified anytime, so drivers shouldn’t be reluctant to buy a different policy if a cheaper rate is available. We understand brand loyalty, but it’s not a great idea if it’s costing you a lot of money every month. In just a few minutes you could shop around to find cheaper auto insurance in Greensboro in Greensboro.

The Greensboro, NC, insurance agents below can aid you in deciding which auto insurance policy fits you best, since some people prefer to get some guidance when trying to find lower insurance rates for drivers in Greensboro. It can be difficult to find coverage yourself, and a professional agent can provide you satisfaction knowing your policy gives you adequate protection in the event of a claim.

To find a Greensboro insurance agency in your neighborhood, click the link after the list.

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