Cheap Car Insurance in Wilmington, DE
Are you looking for cheap auto insurance in Wilmington? At AutoInsuranceEZ.com, you’ll find the cheapest insurance rates where you live. To get free car insurance quotes from the major providers today, input your zip code into the quote box on this page.
Often referred to as the “Corporate Capital of the World”, Wilmington is a heaven for small and/or new businesses thanks to joint efforts by both private and public enterprise. Because of this, the city possesses a diverse labor force. Although within driving distance from major metropolitan areas such as Philadelphia, Wilmington residents enjoy a lower cost of living with big-city convenience. Find affordable car insurance in Delaware here.
- Fun fact: Did you know that Wilmington is #1 on the list of “Top 101 cities with largest percentage of males in occupations: Mathematical science occupations (population 50,000+)”? Learn more about Wilmington, DE.
Auto Insurance Coverage Requirements in Delaware
Trying to drive legally in Delaware? Well, you’ll need:
|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|
Like most states, Delaware requires liability coverage on all auto policies. Unlike most states, however, they also require Personal Injury Protection. This type of insurance covers “no-fault” accidents, especially if you end up with medical expenses as a result of such an accident.
Normal monthly rates in Delaware can reach as high as $132 per month for some motorists. However, in Wilmington, you can get a fairly good deal and reduce your rates to $121/mo* or lower, if you know what discounts to look for. We’ll discuss some of these discounts shortly.
National Grange Mutual, Nationwide, and Allstate are offering the most competitive rates in Wilmington (as you can see in the chart). But what else are they offering? Excellent customer service? A simple and efficient claims service? All of these are important questions to consider before you choose a company based on low rates alone.
Insurance providers contemplate different factors when figuring out insurance quotes, including driving violations, accident claims, credit score/rating, years of driving experience, and multiple cars and drivers. Also, keep in mind that premiums differ from carrier to carrier. To find out whether you’re still paying the most favorable rate, compare cheap Delaware auto insurance quotes online.
Major Car Insurance Factors in Wilmington
There are numerous ways in which your car insurance rate might be estimated. But not all of it is out of your control; there are things you can do to be able to influence which discounts you are eligible to acquire. Listed here are some of these factors in greater detail:
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 Wilmington is 71,525 and the median household income is $37,861.
If you live in a city where accidents happen frequently, then you will likely face higher monthly insurance rates. Luckily for Wilmington drivers, the accident rate is fairly low, even for a city with such a robust population. This can lead to some significant savings.
Auto Thefts in Wilmington
Finding cheap auto insurance can be difficult if you are at risk for auto theft. Certain popular vehicle models are attractive to thieves, as well as vehicles which are parked often in large cities. The total number of stolen vehicles in Wilmington was 371 back in 2013. This marks a substantial drop in theft from previous years. However, if you are still uncertain, you can add Comprehensive coverage to your policy to protect against theft.
Your Credit Score
Having a high or low credit score can have a serious influence on your monthly insurance payments. Good credit scores are rewarded with significantly lower rates. Poor credit scores, on the other hand, might pay double (or more) what you would pay with a better credit history.
Your automotive insurance gradually gets cheaper over time, because your experience behind the wheel ensures that you are less and less likely to get into an accident. But younger drivers and their lack of experience are at a much higher risk. And because they are so risky to insure, they must pay higher monthly premiums.
Your Driving Record
“Accident Forgiveness” is a new type of discount that more and more insurance providers are beginning to offer. It gives you the opportunity to virtually erase a minor traffic citation from your record, effectively lowering your monthly premium. It is unlikely to work for more serious violations, such as a DUI or Reckless Driving, however.
The thing most people don’t realize about insuring luxury cars is that it isn’t the vehicle itself that costs more to insure – it’s the numerous types of coverage (and in higher amounts) which you must purchase in order to protect your investment that raise the price tag, as you can see in the chart.
Minor Car Insurance Factors in Wilmington
You might want to be mindful about these following factors, and how they influence your rate:
Your Marital Status
Married couples can get all sorts of discounts – if they know how to bundle their insurance policies, that is. The most obvious choice is to bundle you and your spouse’s auto policies under the same company. And if that company offers other insurance – such as boating, homeowners, or life insurance – you can bundle those too for further discounts.
For most insurance providers, there is little more than a 1-3% difference in rates between men and women – if they charge a different rate at all. In the grand scheme of things, all other factors being equal, your gender doesn’t make it significantly more or less likely to get into an accident.
Your Driving Distance to Work
For the average worker in Wilmington, the commute time can last anywhere from 17-29 minutes. And of those workers, a good 60% drive to work in their own vehicle; another 17% prefer to carpool.
If you can help it, try to avoid registering your car as a business vehicle. On average, those vehicles get charged 10-12% higher rates than vehicles driven for work, school, or even recreationally. Also, yearly mileage is a fairly negligible factor – whether your drive above or below the national average, you may only see a 2-3% fluctuation in your rate.
Your Coverage and Deductibles
Do you think you are unlikely to file a claim any time soon? Then talk to your agent about raising your deductible. It’s a great way to lower your monthly premium and save money. But put a little extra aside – just in case you do have to file a claim.
Education in Wilmington, DE
Most drivers in Wilmington have earned a high school diploma or some other equivalent. A smaller fraction of motorists have yet to complete their high school education. But did you know that pursuing a higher education can save you money on your car insurance? It’s actually a more lucrative discount than what you might get from having a specific job, or even a high-paying salary.
Wilmington has several young universities within driving distance of its residents. More than five of them, including satellite versions of Drexel University and Delaware State University, are less than 25 years old. If you are interested in a legal career, you might want to look into the Delaware Law School.
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 Car Insurance in Wilmington, DE – See How Much You Can Save