UPDATED: Mar 13, 2020
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Bear is a quiet suburb located off the DuPont Parkway, just a few miles south of the Delaware Turnpike. The city is conveniently located close to the New Castle Airport and two other major cities, Wilmington and Newark. Legend has it that the name of the town came from a famous bar which many travelers used to pass on their way south to Dover. The bar had a memorable sign hanging outside in the shape of a bear.
Fun fact: Did you know that Bear is #10 on the list of “Top 101 cities with largest percentage of females working in industry: Finance and insurance (population 5,000+)”? Learn more about Bear, DE.
Auto Insurance Coverage Requirements in Delaware
Driving around in Delaware legally will require at least the minimum requirements stated below:
|Bodily Injury Liability||15,000/30,000||100,000/300,000|
|Property Damage Liability||10,000||50,000|
|Uninsured Motorist Bodily Injury||Not required||100,000/300,000|
|Personal Injury Protection||15,000/30,000||15,000/30,000|
|Collision||Not required||500 deductible|
|Comprehensive||Not required||0 deductible|
Unfamiliar with Personal Injury Protection? It’s a type of coverage which guarantees that your medical expenses will be paid for (up to a specific amount) in the event you are injured in a “no-fault” accident. Delaware, unlike most states, requires this particular form of coverage to be purchased in addition to Liability before you can legally drive.
Typical Delaware motorists can expect to pay around $132 per month for the average automotive policy. However, Bear residents can get it a little cheaper – somewhere around $99/mo* or less – if they know how to navigate the complicated waters of Automotive insurance shopping.
Nationwide, State Farm, and National Grange Mutual are offering some pretty competitive rates right now in Bear. But is that all they’re offering? Are they also offering excellent customer service? Or an easy to navigate claims service? Low rates aren’t everything. Make sure and do a little research before you settle with just any company.
Bear auto insurance providers contemplate various variables when calculating insurance quotes, including driving violations, accident claims, credit score/rating, education, and business use of the vehicle. Additionally, premiums change from company to company. To verify you’re still paying the most favorable rate, find the cheapest auto insurance in Delaware here.
Major Car Insurance Factors in Bear
Insurance companies take numerous elements into account when creating an auto insurance policy. Unfortunately, a number of these factors are difficult or impossible to change, such as your gender or where you live. Other factors your car insurance company may consider include:
- Your Zip Code
Where you park your car each night will have a major impact on your auto insurance rate. Generally, car insurance is cheaper in rural areas because fewer cars means a smaller chance that you will get into a collision with another vehicle. The population of Bear is 19,371 and the median household income is $60,008.
- Automotive Accidents
If your zip code has high accident rates, then odds are you will have to face higher insurance premiums than drivers in nearby cities. Per capita, Bear’s fatal accident numbers are pretty high, which partly explains why it costs a little more to insure your vehicle here.
- Auto Thefts in Bear
Living in a large city (Especially one with a high crime rate) will increase your risk of being a victim of auto theft. If your general location has high rates of theft and claims, you can expect to pay more for auto insurance to offset these costs. Since Bear is lucky enough to experience very low rates of auto theft and vandalism, this might make you eligible for reduced rates on your car insurance. You could even save money by removing Comprehensive coverage from your policy, as you can see in the chart below.
- Your Credit Score
It’s hard to make sure you have a good credit score – regardless, automotive insurance companies still use this metric as a way to determine what to charge you each month for your coverage. And, as you can see, it can make a big difference.
- Your Age
Are you trying to insure a teenage driver? The bad news is: it’s going to be expensive, since young drivers lack experience behind the wheel and will likely get into an accident. However, there are ways to relieve this burden. There are “Good Student” and Driver’s Ed discounts available. If you are a parent, you can bundle your child’s policy with yours in hopes of getting even more savings.
- Your Driving Record
A speeding ticket here, a fender-bender there, and they can really pile up when it comes to insurance premiums. Luckily, providers have started offering Accident Forgiveness discounts for drivers with one or more minor violations. However, this forgiveness policy is less likely to apply to serious violations, such as DUI or Reckless Driving.
- Your Vehicle
Luxury vehicles are expensive to insure for many reasons. Not only are they expensive to repair in general, but would you risk carrying Liability coverage only on a car which costs six figures? It’s highly unlikely. The more coverage you have to buy, the more your premiums will cost each month.
Minor Car Insurance Factors in Bear
There are other ways to tweak your monthly rate, and some of them are below:
- Your Marital Status
Married couples have a not-so-secret trick they can take advantage of if they want to save money on their policies. Bundling your policy with your spouse (under the same provider, of course) can get you some serious discounts.
- Your Gender
Are you afraid you’ll be forced to pay higher rates because you’re female, or because you’re male? Odds are that you won’t have to worry that much. Many providers these days don’t charge different rates based on gender at all. And those who do might only charge 1-2%.
- Your Driving Distance to Work
Bear might be a little farther removed from many places of employment, so workers can expect a 24-31 minute commute on average. Nearly 80% of motorists drive to work in their own car, while another 12-15% prefer to carpool with co-workers.
If you think you drive too much, and that this might make your insurance more expensive, you’ll technically be correct – but only by a few dollars each month. In truth, as long as you aren’t driving a business vehicle, it matters little whether you drive a lot, or a little, or to work, or for fun. Business vehicles are the ones that get charged more (by about 11% or so).
- Your Coverage and Deductibles
Want to lower your monthly rate, or add coverage to your policy for less? Try raising your deductible to keep your monthly payments low. If you have to file a claim, though, you will have to pay more money out of pocket before your insurance company will contribute. So put some extra cash away for a rainy day.
- Education in Bear, DE
Close to 40% of all drivers in Bear have earned a high school diploma or some other equivalent degree. However, many of them could benefit from going back to school; it’s been proven that insurance companies like to give lower rates to motorists who have improved upon their education. Believe it or not, your education level has an even more substantial effect on your rates than your job, or your income.
Bear is more of a suburban area than a hub for higher education, but that doesn’t mean that locals are without options. Two major state universities, the University of Delaware and Delaware State University, are just a moderate commute away.
Unfortunately for most insurance companies, a simple internet search can reveal many of their trade secrets. But even with the proper information, it can still be difficult for you as an individual to figure out your risk profile and find low-cost insurance. Make sure you do your due diligence before you commit to your next car insurance policy.
How We Conducted Our Car Insurance Analysis
*We calculated our average rate based on the following metrics: a married, 34 year old male with good credit, a 12-month history of maintaining auto insurance, a clean driving record, who owns his own home. Miles driven annually were based on the national average. The average rate was also calculated based on a financed 2015 Honda Accord with a pre-installed anti-theft device.
These Companies Offer Lowest Rates on Auto Insurance in Bear, Delaware – See How Much You Can Save