UPDATED: Mar 13, 2020
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Cheap Car Insurance in Durham, NC
Are you searching for auto insurance in Durham? At AutoInsuranceEZ.com, drivers can find the best insurance policy for their area. To find free car insurance rates from the top providers today, type in your local zipcode into the available quote box in this article.
Like many cities throughout the US, the history Durham’s early growth can be attributed to railroad expansion. It served as a refueling and resupply depot for trains running between the cities of Hillsborough and Raleigh during the 19th century. In the post-civil war era, tobacco farming became a major industry for the area. Durham is also a member of the famous Research Triangle Park, renowned for having an elevated concentration of high-tech companies which conduct their R&D activities in the area.
- Fun fact: That guy has an interesting accent…probably because Durham is #11 on the published list of top 101 zip codes with the highest percentage of British West Indian first ancestries.
Auto Insurance Coverage Requirements in North Carolina
Driving legally in Durham requires:
|Bodily Injury Liability||30,000/60,000||100,000/300,000|
|Property Damage Liability||25,000||50,000|
|Uninsured Motorist Bodily Injury||30,000/60,000||100,000/300,000|
|Medical Payments||Not required||2,000|
|Collision||Not required||250 deductible|
|Comprehensive||Not required||0 deductible|
If you think Liability and Uninsured Motorist coverage will be enough, give that decision a little extra thought. After all, Liability coverage only pays out claims if the incident was something you were deemed liable for. Which means that if an act of nature damages your vehicle, you are 100% responsible for those costs. Your insurance company won’t pay a dime.
Some sources show an average monthly premium for North Carolina drivers right around $88 per month. However, there are motorists in Durham right now who can qualify for rates as low as $24/mo*. Keep reading, and we’ll show you how.
The lowest rates in Durham right now are coming from providers such as State Farm and Allied. But does a lower rate automatically make them the best company? There are other factors to consider, such as customer service and the claims filing process, before you decide which company gets your business.
Auto insurance carriers evaluate several elements when establishing insurance prices, which includes marital status, zip code, type of vehicle owned, miles driven each year, and current insurance coverage and limits. Also, premiums will differ from business to business. To make sure you’re still being charged the cheapest premium, check cheap Durham auto insurance premiums online.
Enter your zip code below to view companies that have cheap auto insurance rates.
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Major Car Insurance Factors in Durham
There is a wide array of various things that can factor into the rate quotes you obtain. While many specific details aren’t really anything you can do something about, a few of them are elements that you can change for the better. Here are a few things which may affect your auto insurance premium:
Your Zip Code
Your car insurance rates could vary based on the place you call home. Usually, populous urban centers feature greater car insurance rates as the additional amount of car owners on the streets boosts the likelihood of a collision! There are 245,475 people in Durham and the general family earnings are $50,522.
Given the total population, fatal accident statistics for Durham (and North Carolina in general) are much higher than similarly-sized cities across the country. This means that parking your car in a Durham zip code each night might net you higher monthly rates on automotive insurance.
Auto Thefts in Durham
No matter where you live, most car insurance providers will be happy to offer you a discount on your policy for investing in a passive anti-theft system. This is because small and large cities alike are always vulnerable to car thieves! In Durham, they had 704 auto thefts in 2013. Because the per capita rate of theft is a little high, you might also want to ask your agent about comprehensive insurance also.
Your Credit Score
There are many things which are determined by your credit score – and, for better or for worse, car insurance is one of them. The better your score, the lower your monthly rate will be. Unfortunately, motorists with poor credit are charged significantly higher rates, and the chart below shows.
In the market to insure a teenage driver? Well, we have some bad news, and some good news. The bad news is that teenage drivers are the most expensive drivers to insure (on account of their lack of driving experience and increased accident risk). The good news is that there are discounts specifically for teenagers – such as “Good Student” and Driver’s Ed discounts – which can help alleviate the financial burden.
Your Driving Record
Did you know that some providers offer a discount called “Accident Forgiveness”? If you have minor violations, such as a speeding ticket or a fender-bender sullying your driving record, you may be able to lower your premiums with such a discount.
It should come as no surprise that luxury vehicles are more expensive to insure than your typical sedan. But some drivers may not be informed as to why. Expensive vehicles will naturally cost more to repair or replace, which means you’ll need much more than the state minimum coverage. And the more coverage you buy, the higher your monthly premiums will be.
Minor Car Insurance Factors in Durham
While these factors below won’t necessarily make as big of an impact, you can take a look at them for potential savings:
Your Marital Status
Married couples are in the perfect position to save money on their automotive insurance by bundling their policies together. They can also bundle homeowner’s insurance (or renter’s insurance) for further savings.
Times are changing, and insurance company policies are changing with them. More and more companies are phasing out gender as a metric for charging motorists more or less on their monthly premiums. And for those companies who still do charge a different rate, whether its males or females who end up paying more for their policy is determined by the provider.
Your Driving Distance to Work
Driving time in Durham is about average with the rest of the country considering that it takes most residents around 19-28 minutes to commute to work each way. Approximately 72% of the population will use their own vehicle to get to work, while as little as 3% or as many as 36% will carpool with their co-workers.
If you have your vehicle insured as a business vehicle, get ready to pay more on your premiums. On average, business vehicles cost 10-12% more to insure than those that are primarily driven for work/school/pleasure. Also, if you’re worried about your yearly mileage, don’t be. Even if you drive above average distances, it shouldn’t increase your premiums by more than 2-3%.
Your Coverage and Deductibles
Of course, there are ways to save on your monthly premiums while increasing the amount of coverage you can purchase. By contacting your provider and raising your deductible, you can lower your monthly payments. But this means that your upfront expenses will be higher if you do have to file a claim.
Education in Durham, NC
Durham beats the North Carolina average with an impressive 23% of its citizens possessing a bachelor’s degree. Additionally, 17% of those living in Durham have either completed all four years of high school or do not yet have their diploma. If you live in Durham and you have successfully completed some form of higher education, you may be in luck; car insurance providers often give lower rates to motorists with advanced degrees. These discounts are even better than what you might get based on your job, or on your income.
Duke University, despite the scandals of recent years, is still one of the largest universities in the state with nearly 14,000 students enrolled each term. And in the southeastern part of the city is North Carolina Central University, which is a public institution. For those who wish to fast-track their degree, Durham Technical Community College for students seeking an associate’s degree.
Regrettably for many insurance providers, a fairly easy internet search can reveal quite a few of their industry tricks. But even utilizing the best advice, it may still be tough for anyone as an individual to figure out your current risk user profile and discover the cheapest insurance. Make sure you perform your due diligence prior to committing to your subsequent auto 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.
North Carolina Office of the Commissioner of Banks
You can estimate YOUR car insurance risks by just putting in your Zip Code into the calculator below.