If you want to save the most money, the best way to get low-cost auto insurance rates in Greensboro is to regularly compare price quotes from providers in North Carolina.
Step 1: Read about individual coverages and the changes you can make to keep rates down. Many risk factors that result in higher rates such as accidents, traffic tickets, and a not-so-good credit rating can be controlled by making minor changes to your lifestyle. This article provides information to help prevent high rates and get bigger discounts that may have been overlooked.
Step 2: Quote rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only provide price estimates from one company like Progressive or Allstate, while agents who are independent can give you price quotes from multiple insurance companies.
Step 3: Compare the new quotes to your existing coverage to see if switching to a new carrier will save money. If you find a lower rate quote, make sure there is no coverage gap between policies.
Step 4: Provide notification to your current company to cancel your current auto insurance policy and submit payment and a signed application for the new coverage. Immediately keep your new certificate verifying proof of insurance in a readily accessible location in your vehicle.
One key aspect when comparing rates is that you’ll want to compare identical coverages on every quote request and and to get quotes from as many companies as possible. This ensures the most accurate price comparison and a complete selection of prices.
It’s safe to conclude that insurance companies want to prevent you from shopping around. People who shop around for cheaper price quotes are likely to buy a new policy because they have good chances of finding a more affordable policy premium. A recent survey found that people who regularly shopped around saved an average of $3,400 over four years compared to other drivers who never shopped around for better prices.
If finding the cheapest price for car insurance is the reason you’re reading this, then learning about the best way to shop and compare insurance premiums can make it easier to find better rates.
Finding cheaper Greensboro insurance rates is not rocket science. Just spend a little time comparing free Greensboro auto insurance quotes to see which company has the cheapest Honda Element rate quotes.
The car insurance companies shown below can provide price comparisons in Greensboro, NC. If you wish to find the best cheap car insurance in North Carolina, we suggest you click on several of them to get the most affordable price.
Coverage information
The price information displayed next covers a range of insurance policy prices for Honda Element models. Having knowledge of how rate quotes are determined can help you make informed purchases.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Element LX 2WD | $166 | $318 | $282 | $16 | $84 | $866 | $72 |
| Element LX 4WD | $166 | $318 | $282 | $16 | $84 | $866 | $72 |
| Element EX 2WD | $166 | $318 | $282 | $16 | $84 | $866 | $72 |
| Element EX 4WD | $166 | $318 | $282 | $16 | $84 | $866 | $72 |
| Element SC 2WD | $166 | $318 | $282 | $16 | $84 | $866 | $72 |
| Get Your Own Custom Quote Go | |||||||
Data variables include single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Premium amounts do not factor in vehicle location which can alter rates substantially.
Car insurance rates are higher with tickets and accidents
The illustration below illustrates how traffic citations and fender-benders can affect Honda Element insurance rates for each age group. The data assumes a single female driver, full coverage, $100 deductibles, and no policy discounts are applied.
Full coverage versus liability only rates
The illustration below illustrates the difference between Honda Element annual premium costs with and without physical damage coverage. The data is based on a clean driving record, no claims, $100 deductibles, marital status is single, and no other discounts are factored in.
When to drop comprehensive and collision coverage
There isn’t a steadfast formula to drop physical damage insurance, but there is a general convention. If the yearly cost for physical damage coverage is more than 10% of replacement cost minus your deductible, then it may be the right time to buy liability only.
For example, let’s pretend your Honda Element replacement cost is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company would pay you is $5,000 after paying your policy deductible. If it’s costing you more than $500 annually for your policy with full coverage, then it might be time to consider dropping full coverage.
There are some conditions where dropping physical damage coverage is not in your best interest. If you haven’t paid off your loan, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should not opt for liability only.
Best reasons to buy car insurance in North Carolina
Despite the high cost, maintaining insurance is required in North Carolina but it also protects you in many ways.
- Almost all states have mandatory insurance requirements which means you are required to buy a specific minimum amount of liability protection in order to drive the car legally. 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 you took out a loan on your Element, almost every bank will make it a condition of the loan that you have full coverage to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the lender may have to buy a policy to insure your Honda at a significantly higher premium and require you to pay the higher premium.
- Car insurance preserves not only your Honda Element but also your assets. It will also reimburse you for hospital and medical expenses for yourself as well as anyone injured by you. One of the most valuable coverages, liability insurance, will also pay attorney fees if anyone sues you for causing an accident. If your car is damaged in a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay to have it repaired.
The benefits of having insurance are definitely more than the cost, especially for larger claims. According to a survey of 1,000 drivers, the average driver overpays as much as $850 per year so we recommend shopping around once a year at a minimum to ensure rates are inline.
How Insurance Providers Determine Honda Element Insurance Costs
When buying auto insurance it’s important to understand some of the things that help calculate the price you pay for auto insurance. If you have a feel for what determines premiums, this helps enable you to make changes that may result in big savings.
- How much liability insurance – Your policy’s liability coverage kicks in in the event that you are ruled to be at fault for physical damage or personal injury to other. This coverage provides for a legal defense to defend your case. This coverage is relatively inexpensive compared to other policy coverages, so do not skimp.
- Decrease prices by maintaining coverage – Having an insurance coverage lapse is a quick way to increase your renewal premiums. And not only will insurance be more expensive, the inability to provide proof of insurance can result in a fine, jail time, or a revoked license. You could then be forced to provide proof of insurance in the form of an SR-22 filing with the North Carolina motor vehicle department to get your license reinstated.
- Safer occupants lowers rates – Cars with high safety ratings cost less to insure. The safest vehicles reduce the chance of injuries and fewer serious injuries means less claims paid which can result in lower premiums.
-
Teenage drivers pay more – Youthful drivers in North Carolina are statistically proven to be inattentive in a vehicle so auto insurance rates are higher. Older drivers tend to be more responsible, cause fewer claims and accidents, and are generally more financially stable.
The data below uses these assumptions: single driver, full coverage with $100 deductibles, and no discounts or violations.
Your insurance coverage should be tailored to you
Always remember that when buying the best insurance coverage, there really is no best way to insure your cars. Everyone’s situation is unique and your policy should reflect that.
Here are some questions about coverages that might help in determining if your situation may require specific advice.
- Am I covered when delivering products for my home-based business?
- How many claims can I have before being canceled?
- How much liability do I need to cover my assets?
- Should I buy additional glass protection?
- Which is better, split liability limits or combined limits?
- Am I covered if I have no license?
- Is a driver training discount available?
- Am I better off with higher deductibles on my Honda Element?
- When should I buy a commercial auto policy?
If you can’t answer these questions, then you may want to think about talking to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form or you can go here for a list of companies in your area. It is quick, free and may give you better protection.
Which auto insurance company is best in Greensboro?
Buying coverage from a good quality car insurance provider can be difficult considering how many choices drivers have in Greensboro. The ranking data shown next can help you pick which companies you want to consider comparing rates with.
Top 10 Greensboro Car Insurance Companies Ranked by Value
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- The General
- 21st Century
- Esurance
- Titan Insurance
Top 10 Greensboro Car Insurance Companies Overall
- Travelers
- USAA
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
- American Family
A conclusion for your car insurance search
Budget-friendly car insurance in Greensboro is attainable on the web in addition to many Greensboro insurance agents, and you should compare price quotes from both in order to have the best price selection to choose from. Some car insurance companies don’t offer the ability to get a quote online and most of the time these small, regional companies prefer to sell through local independent agents.
When getting Greensboro auto insurance quotes online, it’s a bad idea to buy lower coverage limits just to save a few bucks. There have been many cases where an accident victim reduced collision coverage only to regret that the savings was not a smart move. Your aim should be to find the BEST coverage for the lowest cost and still be able to protect your assets.
Additional car insurance information is located at the links below
- Dangers of fake or stolen airbags (Insurance Institute for Highway Safety)
- Who Has Cheap Auto Insurance Rates After a Speeding Ticket in Greensboro? (FAQ)
- Who Has Cheap Greensboro Auto Insurance for Seniors? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Ride Shares in Greensboro? (FAQ)
- Safe Vehicles for Teens (iihs.org)
- What to do at the Scene of an Accident (Insurance Information Institute)
- Rollover Crash FAQ (iihs.org)
- Auto Insurance Facts and Statistics (Insurance Information Institute)