You have most likely watched the catchy advertisements from auto insurance companies like GEICO and Allstate that guarantee dirt cheap rates. So drivers should just pick the company with the cutest commercial, right?
Regrettably, it’s not quite that easy, as there are a ton of unknown factors such as how high your deductibles should be, how many years you have been driving, the number of miles you drive each year, and if full coverage is needed, that all factor into the price you pay. This article will detail these types of topics and should give you a jump start in finding the best auto insurance in Greensboro.
For pre-owned vehicles, one of the more important criteria that are looked at to help calculate insurance cost is where you normally keep your vehicle in Greensboro. Regions with larger populations or more claims tend to pay slightly more, whereas less populated areas benefit from lower prices.
The next table shows the most expensive places in North Carolina for used cars to purchase auto insurance in. Greensboro is ranked at #5 with the yearly price of $786 on average, which is approximately $66 per month.
|Rank||City||Premium Per Year|
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Information shown are approximated as the specific garaging location can raise or lower coverage rates greatly.
The vehicle model requiring coverage is one of the largest factors when trying to find low-cost auto insurance for used cars. Vehicles with lower acceleration and performance, good safety features, or a low likelihood of having liability claims will cost significantly less to insure than adrenaline junky models.
The information below ranks auto insurance prices for some of the cheaper vehicles to buy insurance for.
|Vehicle||Estimated Cost for Full Coverage|
|Hyundai Elantra SE Touring Station Wagon||$1,191|
|Chevrolet Silverado LS Regular Cab 4WD||$1,206|
|Toyota RAV4 4WD||$1,301|
|Jeep Grand Cherokee Laredo 2WD||$1,311|
|GMC Sierra SL Extended Cab 2WD||$1,301|
|Chevrolet Equinox LT AWD||$1,311|
|Honda Accord LX 4-Dr Sedan||$1,346|
|Honda CR-V LX 2WD||$1,354|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$1,348|
|Ford Edge Sport 2WD||$1,367|
|Ford Escape Limited 2WD||$1,377|
|Chevrolet Silverado 2500HD LTZ Crew Cab 4WD||$1,391|
|Ford Fusion SE 4-Dr Sedan||$1,396|
|Volkswagen Jetta 2.0T 4-Dr Sedan||$1,391|
|Kia Optima LX||$1,396|
|Ford Focus SES 2-Dr Coupe||$1,463|
|Nissan Rogue SL AWD||$1,470|
|Dodge Ram Quad Cab TRX4 Off Road 4WD||$1,513|
|Ford Explorer Limited 4WD||$1,515|
|Dodge Grand Caravan Crew||$1,525|
|Toyota Tacoma X-Runner 2WD||$1,565|
|Chevrolet Impala LTZ||$1,572|
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Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Price information does not factor in zip code location which can alter rates significantly.
Looking at the numbers, you can assume that cars like the Hyundai Elantra, Chevrolet Silverado, Toyota Prius, and Toyota RAV4 are most likely to be a few of the cheapest vehicles to insure for pre-owned vehicles.
Drive safe and save
The easiest method to earn good car insurance rates in North Carolina for pre-owned vehicles is to be a safe driver and avoid at-fault accidents and violations. The information below demonstrates how speeding tickets and at-fault fender-benders can raise yearly insurance costs for different insured age categories. The costs are based on a married male driver, full coverage, $250 deductibles, and no policy discounts are applied.
In the previous example, the average cost of a car insurance policy per year with no accidents or violations is $1,125. Get written up for two speeding tickets and the average cost rises to $1,549, an increase of $424 each year. Next add one accident along with the two speeding tickets and the annual cost of car insurance for used cars goes up to an average of $1,973. That’s an increase of $847, or $71 per month, just for being a careless driver!
The chart below shows how different deductible levels can affect insurance premiums when searching for cheap insurance for used cars. The prices are based on a married female driver, full physical damage coverage, and no discounts are taken into consideration.
The chart above illustrates that a 40-year-old driver could lower rates by $170 a year by switching from a $100 deductible up to a $500 deductible, or save $258 by selecting a $1,000 deductible. Even younger drivers, such as the 20-year-old example, have the ability to save as much as $422 every year by using higher deductibles when buying full coverage.
When increasing deductibles, it’s a good idea to have additional funds in a savings account to allow you to cover the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
Here’s why price comparisons are so important
Greensboro, NC car insurance rates are impacted by many things that control the price of coverage. Simply having another birthday, moving to a new city, or having a fender bender can produce rate changes that can make some companies much cheaper than others.
In addition to those changes, insurance companies change the rates they charge in North Carolina as needed to reflect underwriting profits or losses. Higher than normal claims may result in rate hikes, while lower claims may cause cheaper Greensboro car insurance rates.
For example, the chart below shows which companies have the cheapest car insurance in Greensboro, NC for a 45-year-old male driver with no violations or accidents, and excellent credit. If we look at prices based on his personal profile, Progressive may have the cheapest car insurance rates in Greensboro at $759 per year. This is $113 less than the average policy premium paid by North Carolina drivers of $872. Utica National, Penn National, Liberty Mutual, and NC Farm Bureau are the remainder of the cheapest Greensboro, NC auto insurance companies.
Now let’s give the driver from above a couple of claims, slightly worse credit, and a traffic ticket or two. Because each insurer has a proprietary formula for setting prices, analyzing rates could now result in a significantly different list of affordable Greensboro car insurance companies as shown below.
State Farm now has the best price on car insurance in Greensboro with Titan, Utica National, Auto-Owners, and National General also being competitive. This shows why North Carolina drivers need to perform a complete rate comparison when trying to get the most budget-friendly insurance quotes for used cars.
Auto insurance prices are calculated by many things and change dramatically, so the most affordable company when you bought your policy may now be quite expensive.
How to find cheaper car insurance for used cars
Below you’ll find some of the recommended penny-pinching solutions that can help you find cheap coverage.
- Save money by insuring your home and auto with the same company
- Prevent rate increases by staying accident-free
- Do not get tickets or violations
- Save money by insuring older vehicles for liability only
- Try to remain claim-free
- Drive vehicles with five-star safety ratings
- Keep rates low by shopping around frequently
The last item on the list is certainly necessary, as was emphasized in this piece. Car insurance rates in Greensboro vary greatly, so drivers shouldn’t hesitate to change insurance companies if a more affordable price is available.
Staying with the same company for years is fine, but it’s not a great idea if that dedication is costing hundreds of dollars a year. Now is a great time to compare prices to find cheaper car insurance for used cars.
If you have questions and prefer to get some guidance when buying car insurance for pre-owned vehicles, the agents listed below are a good start to aid you in deciding which auto insurance policy would work best for you.
To locate a Greensboro insurance agent using an interactive map, click the button following the list or click here to compare price quotes now.
Nationwide Insurance: Jenkins Insurance Agency Inc
3907 W Market St a – Greensboro, NC 27407 – (336) 854-7900
Southeastern Agency Group Inc
1501 Highwoods Blvd # 301 – Greensboro, NC 27410 – (336) 218-7470
Nationwide Insurance: Chris Baughan
3225 Battleground Ave – Greensboro, NC 27408 – (336) 286-3303
Triad Insurance Partners
905 McClellan Pl – Greensboro, NC 27409 – (800) 701-5909
Allstate Insurance: Kayode Abimbola
603 Summit Ave #101 – Greensboro, NC 27405 – (336) 273-6363