A study showed that almost 70% of drivers in North Carolina have remained with the same insurance company for a minimum of four years, and practically 40% of insurance customers have never compared quotes from other companies. With the average insurance premium being $1,847, U.S. drivers can save nearly $860 each year by just comparing rate quotes, but they don’t know how much money they would save if they switched to a more affordable policy.
To save the most money, the best way to get the cheapest car insurance rates is to compare prices regularly from insurers that insure vehicles in Greensboro. Rate comparisons can be done by following these steps.
- Learn about how insurance works and the changes you can make to keep rates down. Many risk factors that cause high rates like at-fault accidents, careless driving, and a less-than-favorable credit history can be controlled by making small lifestyle or driving habit changes. Keep reading for instructions to prevent high prices and find possible discounts that are available.
- Request rate estimates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give rate quotes from a single company like GEICO and Allstate, while independent agencies can provide price quotes for a wide range of insurance providers.
- Compare the new rate quotes to your existing coverage and determine if there is any savings. If you can save money and switch companies, ensure there is no coverage lapse between policies.
An important bit of advice to remember is that you’ll want to make sure you compare the same liability limits and deductibles on every quote and and to compare every insurance company. Doing this helps ensure a fair rate comparison and a better comparison of the market.
It’s important to know that getting more free quotes will enable you to find better pricing.
The following companies have been selected to offer quotes in Greensboro, NC. If multiple companies are listed, we suggest you click on several of them in order to get a fair rate comparison.
The premium table below showcases different insurance policy prices for Acura TSX models. Having a good grasp of how insurance quotes are calculated is important for making smart choices when choosing a car insurance company.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|TSX Technology Package||$238||$524||$256||$16||$76||$1,110||$93|
|Get Your Own Custom Quote Go|
Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Estimates do not factor in vehicle garaging location which can modify insurance rates substantially.
Irresponsible driving raises your rates
The information below highlights how speeding tickets and at-fault accidents can impact Acura TSX insurance prices for different age groups. The price estimates are based on a single female driver, full physical damage coverage, $250 deductibles, and no discounts are applied.
Acura TSX liability rates compared to full coverage
The diagram below visualizes the comparison of Acura TSX car insurance costs with full physical damage coverage compared to only buying liability only. The data assumes no claims or violations, $250 deductibles, marital status is single, and no discounts are applied to the premium.
Guidelines for eliminating full coverage
There is no set guideline to drop full coverage on your policy, but there is a guideline you can use. If the yearly cost of comp and collision coverage is about 10% or more of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.
For example, let’s pretend your Acura TSX book value is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company would pay you is $2,000 after you pay the deductible. If you are paying over $200 annually for your policy with full coverage, then it could be time to drop full coverage.
There are some situations where dropping physical damage coverage is not in your best interest. If you haven’t satisfied your loan, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.
You Can Change Your Insurance Premiums
Smart consumers have a good feel for the rating factors that help determine your premiums. If you have some idea of what positively or negatively impacts your premiums, this allows you to make good choices that may result in better car insurance rates.
Listed below are some of the items used by companies to determine your rates.
Insurance premiums and vehicle performance – The performance level of the vehicle you need to insure makes a huge difference in the rate you pay. The lowest performance passenger cars generally receive the lowest base rates, but the final cost of insurance is determined by many other factors.
The following chart uses these variables: single female driver age 30, full coverage with $250 deductibles, and no discounts or violations. The chart compares Acura TSX insurance premiums compared to other vehicles that have a range of performances.
- Liability protection is important – Liability coverage is the coverage that protects you in the event that you are found to be at fault for damages caused by your negligence. Your policy’s liability insurance provides legal defense coverage to defend your case. It is affordable coverage when compared to the cost of physical damage coverage, so do not cut corners here.
With age comes responsibility – Older people have been proven to be more responsible, tend to file fewer claims, and get fewer tickets. Young drivers have a tendency to be inattentive and easily distracted behind the wheel so car insurance rates are higher.
The data below uses these assumptions: single driver, full coverage with $100 deductibles, and no discounts or violations.
- Where do you drive? – The higher the mileage driven annually the higher your rate. Most insurance companies price each vehicle’s coverage based upon how much you drive. Vehicles left parked in the garage receive lower rates than vehicles that are driven to work every day. An incorrectly rated TSX is just wasting money. Verify your declarations sheet properly reflects the correct usage, because it can save money.
- Don’t let your coverage lapse – Driving with no insurance is not a good idea and companies may charge more for letting your coverage have a gap. Not only will you pay higher rates, failure to provide proof of insurance could earn you a steep fine or even jail time. Then you may be required to file a SR-22 with the North Carolina motor vehicle department.
- Bad credit hurts insurance premiums – An insured’s credit history is likely to be a major factor in your rate calculation. Therefore, if your credit history can use some improvement, you could be paying less to insure your Acura TSX if you improve your credit rating. Insureds with high credit ratings tend to be better drivers and file fewer claims than those with lower ratings.
Auto insurance protects more than just your car
Even though it’s not necessarily cheap to insure an Acura in Greensboro, maintaining insurance may be required for several reasons.
- Just about all states have minimum mandated liability insurance limits which means the state requires a specific minimum amount of liability coverage in order to be legal. 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 Acura TSX has a loan, almost all lenders will stipulate that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you default on your policy, the bank or lender will purchase a policy for your Acura at a significantly higher premium and make you pay a much higher amount than you were paying before.
- Auto insurance protects both your vehicle and your personal assets. It also can pay for medical bills incurred in an accident. Liability coverage, the one required by state law, will also pay attorney fees if anyone sues you for causing an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of buying enough insurance outweigh the cost, particularly for liability claims. As of last year, the average driver in North Carolina overpays more than $865 each year so you should quote your policy with other companies at every renewal to help ensure money is not being wasted.