For hybrids, one of the largest criteria that determine the amount you pay each year for auto insurance is where you keep your vehicle in Greensboro. Larger areas are more likely to have higher rates, whereas areas with less congestion have the luxury of lower rates.
The following table rates the most expensive places in North Carolina for hybrid vehicles to buy an auto insurance policy in. Greensboro is listed at #6 with the annual price of $786 for the average policyholder, which is approximately $66 monthly.
|Rank||City||Premium Per Year|
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Price information shown is comparative as specific Greensboro zip code can raise or lower rates substantially.
Comparing quotes for budget insurance is confusing at best, and determining which companies quote the most affordable insurance rates for hybrid vehicles will involve even more rate comparisons. Each insurance company uses a little different formula to set premium rates, so let’s take a look at the most competitive insurance companies in Greensboro.
We do need to point out that North Carolina insurance rates are determined by lots of factors that control the cost of your policy. Price variation is why North Carolina drivers need to shop around to find the most budget-friendly insurance rates for hybrid vehicles. Insurance rates consist of many factors and can decrease or increase without notice, so the cheapest company the last time you compared rates may now be one of the higher cost companies.
Compare Cheap Insurance Quotes for Hybrids
|Rank||Company||Cost Per Year|
|3||NC Farm Bureau||$716|
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Utica National offers some of the cheapest car insurance rates in Greensboro at around $636 each year. This is $236 less than the average premium paid by North Carolina drivers of $872. Progressive, NC Farm Bureau, Liberty Mutual, and Titan also qualify as some of the cheaper Greensboro, NC car insurance companies.
As the rates illustrate above, if you currently buy coverage from NC Farm Bureau and switched to Utica National, you could see savings of roughly $80. Policyholders with Liberty Mutual might save as much as $92 a year, and Titan policyholders might lower prices by up to $93 a year.
These policy prices are averaged for all ages of drivers and types of vehicles and do not factor in a specific vehicle garaging location for hybrid vehicles. So the auto insurance company that fits your age and vehicle best may not even be in the list above. That is why you need to get auto insurance quotes using your own personal information and vehicle type.
Should you buy full coverage?
Saving on insurance is the goal of the majority of drivers, and an easy way to find cheap insurance for hybrid vehicles is to not pay for full coverage. The example below compares insurance costs when comparing full coverage to liability only. The premiums are based on no accidents or driving violations, $500 deductibles, drivers are not married, and no other discounts are factored in.
If averaged for all ages, comprehensive and collision coverage on your policy costs an additional $1,181 per year more than just insuring for liability. At some point, almost every driver questions if full coverage is worth the money. There is no set rule to eliminate full coverage on your policy, but there is a guideline you can consider. If the yearly cost for physical damage coverage is about 10% or more of the settlement you would receive from your company, then you might consider buying liability only.
For example, let’s pretend your vehicle’s settlement value is $10,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would get paid by your company is $9,000 after paying your deductible. If you are currently paying more than $900 a year for physical damage coverage, then you might want to consider buying only liability coverage.
There are some conditions where buying only liability insurance is not a good idea. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage as part of the loan requirements. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should not drop full coverage.
Violations and accidents raise rates
The recommended way to enjoy good insurance rates in North Carolina for hybrids is to drive safe and maintain a clean driving record. The illustration below illustrates how traffic citations and at-fault fender-benders can increase insurance prices for different age groups. The information is based on a single female driver, comprehensive and collision coverage, $250 deductibles, and no discounts are factored in.
In the previous chart, the average cost of car insurance in Greensboro per year with no accidents and a clean driving record is $1,250. Add in two speeding tickets and the average cost surges to $1,675, an increase of $425 each year. Then add two accidents along with the two speeding tickets and the 12-month cost of insurance for hybrid vehicles increases to an average of $3,237. That’s an increase of $1,987, or $166 per month, just for a couple of infractions!
How to get discounts on Greensboro car insurance rates
Auto insurance companies that provide policies for hybrid vehicles may provide special discounts that can lower rates by 35% or more if you meet the requirements. The best insurance companies and the discounts they provide are:
- GEICO may include discounts for military active duty, federal employee, seat belt use, five-year accident-free, and defensive driver.
- USAA offers premium reductions for defensive driver, vehicle storage, annual mileage, new vehicle, and multi-vehicle.
- Progressive policyholders can earn discounts including continuous coverage, good student, homeowner, online quote discount, and multi-vehicle.
- American Family may have discounts that include accident-free, good driver, good student, air bags, Steer into Savings, and mySafetyValet.
- Esurance includes discounts for anti-lock brakes, Pac-12 alumni, renters, defensive driver, safety device, Switch & Save, and claim free.
- Farmers Insurance may offer discounts for business and professional, distant student, switch companies, mature driver, electronic funds transfer, multi-car, and bundle discounts.
- State Farm discounts include passive restraint, defensive driving training, good driver, Drive Safe & Save, student away at school, Steer Clear safe driver discount, and driver’s education.
The diagram below visualizes the comparison of auto insurance rates with and without discounts applied to the rates. The costs are based on a female driver, no claims or violations, North Carolina state minimum liability limits, full coverage, and $500 deductibles.
The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, defensive driving course, multiple vehicle, anti-theft, and marriage discounts applied. When these discounts are applied, theaverage yearly reduction on insurance for hybrid vehicles is 28% or $416.
Ideas to find low-cost auto insurance for hybrid vehicles
It’s not impossible to find cheaper rates, and here are some of the better money-saving solutions that can help Greensboro drivers find low-cost coverage.
- Increase your deductibles
- Save money by observing traffic laws and speed limits
- Avoid having at-fault accidents
- Choose a safer vehicle and pay lower rates
- Assess whether full coverage is needed
- Maintaining good credit helps earn cheaper rates
- Compare rates regularly to ensure the best deal
That final tip is notably significant, as was pointed out in the prior information. Car insurance rates change constantly, so drivers shouldn’t hesitate to switch companies if a more affordable rate is found. Staying with the same company for years is fine, but it isn’t a good idea if that dedication is costing a fortune every year. In less than five minutes you could shop around to find cheaper car insurance for hybrid vehicles in Greensboro.
If you have coverage questions and would like to get some guidance when trying to find the best insurance rates for hybrids, the agents shown below can most likely help you determine which is the best policy.
To locate a Greensboro insurance agent by location nearest to you, click the button at the bottom.
Godwin Insurance Agency
905 Battleground Ave – Greensboro, NC 27408 – (336) 379-8640
Allstate Insurance: John L. Palmer
445 Dolley Madison Rd a – Greensboro, NC 27410 – (336) 852-8800
628 Green Valley Rd #306 – Greensboro, NC 27408 – (336) 273-6599
Southeastern Agency Group Inc
1501 Highwoods Blvd # 301 – Greensboro, NC 27410 – (336) 218-7470
The Beacon Insurance Group
1515 W Cornwallis Dr Suite 206 – Greensboro, NC 27408 – (336) 378-0740