The words “cheap” and “insurance” really shouldn’t be used in the same sentence, especially when you are shopping around for the best car insurance for nurses. Because it’s not cheap, let’s take a look at some of the factors that can significantly affect auto insurance premiums, and find out if you can lower the price of your next policy.
The make and model of vehicle driven is probably the most important factor that determines the availability of cheaper car insurance for nurses. Vehicles with high performance features, poor safety features, or a track record of large liability claims will cost much more to insure than safer models. The information below features coverage rates for a number of the more affordable vehicles to buy coverage for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Hyundai Elantra SE Touring Station Wagon||$1,141|
|Honda CR-V LX 4WD||$1,206|
|Chevrolet Impala LT||$1,246|
|Toyota Camry LE||$1,256|
|Chevrolet Malibu LS||$1,246|
|Volkswagen Jetta S 2.5 Station Wagon||$1,306|
|Ford Escape XLT 4WD||$1,320|
|Chevrolet Silverado LS Crew Cab 4WD||$1,334|
|Honda Civic EX-L 4-Dr Sedan||$1,376|
|Ford Edge SEL AWD||$1,402|
|Honda Odyssey LX||$1,418|
|GMC Sierra Denali Crew Cab 2WD||$1,423|
|Ford Fusion SEL AWD 4-Dr Sedan||$1,432|
|Jeep Grand Cherokee Laredo 2WD||$1,428|
|Chevrolet Equinox LT 2WD||$1,437|
|Toyota RAV4 4WD||$1,428|
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Data rating is based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Rate information does not factor in garaging location in Greensboro, NC which can modify auto insurance rates significantly.
Based upon these rates, vehicles like the Hyundai Elantra, Honda CR-V, and Chevrolet Impala should be the less-costly vehicles to insure for health professionals.
Deciphering which insurers offer the lowest-priced car insurance rates for nurses may require a little more sweat in order to find the most economical policy. Each auto insurer uses different criteria for determining prices, so to begin we’ll rank the car insurance companies with the overall cheapest rates in North Carolina.
It’s important that you understand Greensboro, NC car insurance rates are determined by lots of factors that may substantially change the price you have to pay. Getting older, becoming a homeowner, or getting into an accident may generate price changes that can make some companies much cheaper than others.
Lowest Insurance Price Quotes for Health Occupations
|Rank||Company||Cost Per Year|
|3||NC Farm Bureau||$709|
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Utica National generally has some of the lowest car insurance rates in Greensboro at around $636 annually. This is $236 less than the average rate paid by North Carolina drivers of $872. Progressive, NC Farm Bureau, Liberty Mutual, and Penn National would also be considered some of the cheapest Greensboro, NC auto insurance companies.
As the example above demonstrates, if you currently have coverage with Liberty Mutual and switched to Progressive, you may see a yearly price reduction of upwards of $70. North Carolina drivers with Penn National could save as much as $88 a year, and GEICO insureds might reduce rates by $99 a year.
Understand that those prices are averaged for all types of insureds and vehicles and and are not calculated with an exact location for nurses. So the car insurance company that fits you best may not even be in the top 20 companies shown above. That helps illustrate why you need to compare rates from multiple companies using your own specific driver and vehicle information.
One of the more important components that aid in calculating insurance cost is where your residence is in Greensboro. Cities with larger populations tend to have more expensive auto insurance rates, whereas areas with less congestion have the benefit of cheaper car insurance.
The table below ranks the highest-priced areas in North Carolina for nurses to purchase a policy in. Greensboro shows up at #6 with an annual premium of $779 for the average policy, which is about $65 per month.
|Rank||City||Average Per Year|
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Rates are approximated as vehicle location can decrease or increase premiums considerably.
Safe drivers pay cheaper rates
The common sense way to find the best car insurance prices in North Carolina for health professionals is to be an attentive driver and maintain a clean driving record. The chart below demonstrates how speeding tickets and at-fault claims raise yearly insurance costs for each age group. The premiums are based on a married female driver, full physical damage coverage, $250 deductibles, and no additional discounts are factored in.
The data in the chart shows the average cost of auto insurance in Greensboro per year with no accidents or violations is $1,017. Receive two speeding tickets and the average cost rises to $1,441, an increase of $424 each year. Now add one accident along with the two speeding tickets and the yearly cost of car insurance for nurses increases to an average of $1,864. That’s an increase of $846, or $71 per month, just for not driving safely!
Full coverage rates compared to liability-only
Reducing premiums for car insurance is probably important to the majority of vehicle owners, and one of the best ways to buy cheap insurance for nurses is to only buy liability coverage. The chart below illustrates the comparison of insurance premiums with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The prices are based on no accidents or driving violations, $100 deductibles, drivers are not married, and no discounts are taken into consideration.
If all age groups are averaged, full coverage costs an extra $1,434 per year more than just buying liability only. That amount may make you wonder if it’s a good idea to buy full coverage. There is no clear-cut formula for excluding physical damage coverage on your policy, but there is a general guideline. If the annual cost of coverage is 10% or more of the replacement cost minus the deductible, then you might consider buying liability only.
For example, let’s assume your vehicle’s replacement cost is $9,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would get paid by your company is $8,000 after the policy deductible has been paid. If it’s costing in excess of $800 a year for your policy with full coverage, then you may want to consider only buying liability coverage.
The information below shows how choosing a deductible can impact insurance costs when researching cheap insurance for nurses. The data assumes a single male driver, comp and collision included, and no other discounts are factored in.
The chart above illustrates that a 50-year-old driver could pocket $278 a year by changing from a $100 deductible up to a $500 deductible, or save $416 by choosing a $1,000 deductible. Youthful drivers, like the 20-year-old category, could roll back prices $924 or even more by using higher deductibles when buying full coverage.
When raising deductibles, it will be important to have plenty of money set aside to offset the extra out-of-pocket expense that comes with higher deductibles.
Why you should compare rates
Greensboro car insurance rates are determined by lots of factors that may substantially change the price you pay. Improving your credit rating, moving across town, or getting a driving violation may prompt premium changes that can make some companies cheaper than competitors. In addition to those changes, companies file new North Carolina auto insurance rates as needed to help ensure profitability. Heavier than normal losses can result in more expensive premiums, while a profitable period can produce more affordable Greensboro car insurance rates.
The chart below shows which company has the cheapest car insurance in Greensboro, NC for a 40-year-old male driver with a clear driving record, no claims, and great credit. When quoting prices based on his personal risk profile, Utica National has the best car insurance rates in Greensboro at $741 a year. This is $131 less than the average premium paid by North Carolina drivers of $872. Progressive, Liberty Mutual, Penn National, and GEICO are the rest of the cheapest Greensboro, NC auto insurance companies.
The chart below compares rates after we give the driver in the first example an accident surcharge, a lower credit rating, and a stop sign violation. Since each auto insurance company uses a different method for determining prices, comparing insurance quotes could now result in a different set of the cheapest Greensboro car insurance companies as shown below.
Titan now has the best price on car insurance in Greensboro, NC with State Farm, Auto-Owners, Progressive, and National General completing the list. This example proves why it is so important to compare many different companies to find the cheapest car insurance rates for nurses.
Rates are made up of many different factors and can change without notice, so the cheapest rate six months ago may now be priced much higher than other options.