You have probably watched the catchy commercials from car insurance companies like The General and Progressive guaranteeing big savings. So you should just pick the company with the cutest commercial, right?
Unfortunately, it’s just not that easy, as there are a ton of unknown aspects such as the area you live in, the amount of coverage you want, what your desired deductibles are, and whether you are female or male, that all influence how much you pay for auto insurance. We know insurance is not everyone’s favorite topic, but in this article we will cover the different scenarios that increase car insurance cost and will hopefully give you a good beginning to your quest for cheaper car insurance.
One of the more important factors that are looked at to determine insurance cost is your address in Greensboro. More densely populated places tend to pay slightly more, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower rates.
The following table lists the priciest cities in North Carolina for good students in which to purchase auto insurance. Greensboro is listed at #5 with a yearly premium of $786 for coverage, which is about $66 monthly.
|Rank||City||Premium Per Year|
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Price information shown is approximated as specific Greensboro garaging address can impact rates considerably.
The type of vehicle you are buying coverage for is a significant factor when shopping for the most affordable insurance for good students. Vehicles with high performance, a lack of advanced safety features, or a track record of large liability claims will cost more to insure than more economical and safe models. The list below ranks car insurance costs for a handful of the most affordable automobiles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$1,016|
|Ford Explorer XLT AWD||$1,139|
|Honda CR-V LX 4WD||$1,160|
|Chevrolet Equinox LS AWD||$1,201|
|Toyota RAV4 2WD||$1,210|
|Dodge Grand Caravan SXT||$1,226|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$1,244|
|Chevrolet Impala LTZ||$1,265|
|Ford Escape Limited 2WD||$1,274|
|Chevrolet Silverado LT Regular Cab||$1,286|
|Nissan Rogue S 2WD||$1,293|
|Dodge Ram Crew Cab TRX 2WD||$1,311|
|Honda Civic SI 4-Dr Sedan||$1,327|
|Chevrolet Silverado 3500HD LTZ Crew Cab 2WD||$1,336|
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Price data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Information does not factor in specific location which can influence premiums substantially.
Based upon these rates, models like the Hyundai Elantra, Ford Explorer, Honda CR-V, and Chevrolet Equinox are likely to be the most budget-friendly vehicles to insure for student drivers.
Types of discounts on Greensboro insurance rates
Insurers that offer cheap quotes for good students may also offer premium discounts that can lower rates by 30% or more if you meet the requirements. Companies and their offered discounts are included below.
- AAA has savings for pay-in-full, multi-car, multi-policy, education and occupation, AAA membership discount, good student, and anti-theft.
- Progressive may include discounts for online signing, multi-policy, homeowner, good student, online quote discount, and continuous coverage.
- State Farm includes discounts for passive restraint, anti-theft, student away at school, good student, and safe vehicle.
- Esurance has discounts for anti-theft, homeowner, good student, emergency road assistance, and paid-in-full.
- Nationwide discounts include accident-free, business or organization, defensive driving, anti-theft, Farm Bureau membership, easy pay, and multi-policy.
The diagram below shows the difference between car insurance rates with and without discounts being applied to the rates. The costs are based on a male driver, no claims or driving citations, North Carolina state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with marriage, passive restraint, defensive driving course, claim-free, multiple vehicle, and homeowner discounts applied. When discounts are factored in, the average amount saved each year on auto insurance for good students is 28% or $290.
Impact of careless driving on Greensboro auto insurance rates
In a perfect world, the best way to earn the best auto insurance rates for student drivers is to drive attentively and avoid at-fault accidents and violations. The example below demonstrates how traffic citations and at-fault fender-benders can influence auto insurance rates for different age groups. The premiums assume a single female driver, full coverage, $1,000 deductibles, and no discounts are applied to the premium.
In the example above, the average cost of a car insurance policy in North Carolina per year with a clean driving record and no accidents is $1,338. Add in two speeding tickets and the average cost hikes up to $1,781, an increase of $443 each year. Then throw in one accident along with the two speeding tickets and the annual cost of auto insurance for good students increases to an average of $2,238. That’s an increase of $900, or $75 per month, just for being a little careless behind the wheel!
Why you should be comparing rates
North Carolina auto insurance rates are influenced by many factors which can substantially change the policy premium. Simply having a birthday, moving to a different location, or having a fender bender may prompt premium changes that can now make some companies cheaper in comparison to the competition.
Not only may your risk profile change, but insurers modify rates every year in order to remain profitable. Heavy losses may result in additional premium costs, while a better loss history may cause cheaper Greensboro car insurance rates.
As an example, the graph below analyzes the cheapest car insurance in Greensboro, NC for a 45-year-old male driver with no accidents or violations, and great credit. When comparing rates based on his current risk factors, Progressive has the most affordable car insurance rates in Greensboro at $723 a year. This is $149 less than the average price paid by North Carolina drivers of $872. Utica National, NC Farm Bureau, Liberty Mutual, and GEICO are also included in the most affordable Greensboro, NC auto insurance companies.
The chart below compares rates after we give the driver from the first rate comparison an accident claim, less-than-perfect credit, and a traffic citation. Due to the fact that each insurance company has a unique approach for determining prices, analyzing rates may now show a different set of affordable companies as shown below.
Titan now has the cheapest price in Greensboro with State Farm, Auto-Owners, Utica National, and National General now rounding out the top five. This example proves why consumers need to take the time to take the time to shop around when trying to find the most economical auto insurance quotes for good students. Auto insurance prices are impacted by many different factors and can decrease or increase without notice, so the best option three years ago may now cost much more than other companies.
If you have questions and prefer to have a professional recommendation when shopping around for cheaper insurance for good students, the insurance agencies listed below can help you decide which insurance coverage you need. To find a Greensboro insurance agent near you, click the button following the list.
Gladwell Insurance Agency
5709 W Friendly Ave – Greensboro, NC 27410 – (336) 299-5185
Keith Kepler – State Farm Insurance Agent
1603 Westover Terrace a – Greensboro, NC 27408 – (336) 294-4341
Nationwide Insurance: O Hanlon Insurance and Financial Services
5411D W Friendly Ave d – Greensboro, NC 27410 – (336) 288-1208
How to find cheaper insurance for good students
Below you’ll find many thrifty ideas that can help drivers locate lower-cost auto insurance.
- Maintain a safe distance and avoid accidents
- Save money by staying claim-free
- Home or renters coverage can save on auto insurance
- Avoid getting citations and tickets
- Increase your physical damage deductibles
- Improve your credit score
- Keep rates low by shopping around frequently
That last tip is extremely critical, as was stressed in this article. Coverage prices vary considerably, so don’t hesitate to change to a new company if you find a cheaper price.
Having a favorite company is great, but it’s not a great idea if that devotion results in you overpaying hundreds of dollars a year. If you have a few minutes, compare prices to find cheaper insurance for good students in Greensboro.