Shocking but true, a large majority of drivers have remained with the same insurance company for over three years, and about 40% of consumers have never quoted insurance rates at all. North Carolina insurance shoppers can save hundreds of dollars each year just by shopping around, but they don’t invest the time required to shop around.
If saving the most money is your goal, then the best way to find cheaper prices for auto insurance rates is to compare prices annually from different companies that sell auto insurance in Charlotte. This can be done by completing these steps.
First, get a basic knowledge of what is in your policy and the modifications you can make to drop your rates. Many risk factors that increase rates such as traffic tickets, fender benders, and poor credit history can be eliminated by making minor changes to your lifestyle. This article provides additional tips to prevent high prices and find more discounts that you may not know about.
Second, request rate estimates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can provide rates from a single company like GEICO and Allstate, while independent agencies can quote rates for a wide range of companies.
Third, compare the new rates to the premium of your current policy and see if there is a cheaper rate. If you find a better price, make sure coverage does not lapse between policies.
Fourth, give proper notification to your current agent or company of your intent to cancel your existing policy. Submit a down payment and signed policy application to the new company. Once received, put the proof of insurance paperwork in your glove compartment.
The key thing to know about shopping around is that you’ll want to compare the same liability limits and deductibles on each quote request and and to get rate quotes from every insurance company. This provides an apples-to-apples comparison and and a good selection of different prices.
If you’re already insured, you stand a good chance to be able to reduce premiums using the concepts covered in this article. Finding and comparing the best protection in Charlotte is easy if you know what you’re doing. But North Carolina consumers can benefit by having an understanding of how big insurance companies calculate your policy premium and use it to your advantage.
When comparing insurance rates, know that quoting more will increase your chances of finding the best rates.
The providers in the list below are ready to provide price comparisons in North Carolina. In order to find the best cheap auto insurance in Charlotte, we suggest you compare several of them to get a more complete price comparison.
Save money with these nine premium slashing discounts
Auto insurance companies don’t always advertise every possible discount very clearly, so we took the time to find a few of the more well known as well as the least known credits that may apply to you. If you aren’t receiving every discount available, you could be getting lower rates.
- Life Insurance – Not every insurance company offers life insurance, but if they do you may earn a small discount if you purchase some life insurance too.
- Accident Forgiveness Coverage – Not really a discount, but some insurance companies will allow you to have one accident before they charge you more for coverage so long as you are claim-free for a certain period of time.
- Paperwork-free – Some insurance companies will give a small break just for signing your application on your computer.
- Save over 55 – Drivers over the age of 55 are able to get a small discount on rates.
- Auto/Home Discount – If you can bundle your auto and homeowners insurance with one company you will save at least 10% off all policies.
- Organization Discounts – Joining a civic or occupational organization in Charlotte could trigger savings when shopping for auto insurance.
- Homeowners Savings – Being a homeowner can help you save on auto insurance because owning a home shows financial diligence.
- Accident-Free Discounts – Charlotte drivers who stay claim-free pay much less as opposed to accident-prone drivers.
- Payment Discounts – By making one initial payment instead of making monthly payments you could save 5% or more.
Policy discounts save money, but some of the credits will not apply to the entire policy premium. Most only cut specific coverage prices like medical payments or collision. So even though you would think having all the discounts means you get insurance for free, you’re out of luck.
The example below illustrates the difference between Ford Explorer Sport Trac car insurance costs with and without some available policy discounts. The premiums assume a female driver, no claims or driving citations, North Carolina state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, claim-free, multi-car, multi-policy, and safe-driver discounts applied.
Large auto insurance companies and a selection of discounts are detailed below.
- State Farm offers premium reductions for passive restraint, accident-free, Steer Clear safe driver discount, good driver, defensive driving training, and multiple policy.
- GEICO offers discounts including driver training, air bags, daytime running lights, membership and employees, and military active duty.
- Liberty Mutual may offer discounts for exclusive group savings, multi-car, preferred payment discount, hybrid vehicle, teen driver discount, safety features, and newly married.
- The Hartford policyholders can earn discounts including anti-theft, driver training, vehicle fuel type, air bag, good student, and defensive driver.
- MetLife may have discounts that include good driver, accident-free, multi-policy, good student, defensive driver, claim-free
- Progressive includes discounts for online signing, online quote discount, homeowner, good student, multi-policy, and multi-vehicle.
Double check with all the companies which discounts you may be entitled to. Some credits might not apply in every state. To see a list of auto insurance companies offering auto insurance discounts in North Carolina, click this link.
Ford Explorer Sport Trac coverage analysis
The coverage table shown below highlights detailed analysis of rate quotes for Ford Explorer Sport Trac models. Having knowledge of how insurance policy rates are calculated is important for you to make smart choices when purchasing an auto insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Explorer Sport Trac XLT 2WD | $160 | $312 | $282 | $16 | $84 | $854 | $71 |
| Explorer Sport Trac Limited 2WD | $184 | $312 | $282 | $16 | $84 | $878 | $73 |
| Explorer Sport Trac XLT 4WD | $184 | $312 | $282 | $16 | $84 | $878 | $73 |
| Explorer Sport Trac Limited 4WD | $208 | $380 | $282 | $16 | $84 | $970 | $81 |
| Explorer Sport Trac Limited AWD | $208 | $380 | $282 | $16 | $84 | $970 | $81 |
| Get Your Own Custom Quote Go | |||||||
Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-vehicle, and multi-policy. Table data does not factor in specific location information which can change premium rates greatly.
How high should deductibles be?
One of the more difficult decisions when buying auto insurance is what deductibles to buy. The comparison tables below illustrate how much more rates are of buying low and high physical damage coverage deductibles. The first table uses a $100 deductible for comp and collision and the second pricing table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Explorer Sport Trac XLT 2WD | $186 | $318 | $250 | $14 | $74 | $867 | $72 |
| Explorer Sport Trac Limited 2WD | $214 | $318 | $250 | $14 | $74 | $895 | $75 |
| Explorer Sport Trac XLT 4WD | $214 | $318 | $250 | $14 | $74 | $895 | $75 |
| Explorer Sport Trac Limited 4WD | $242 | $386 | $250 | $14 | $74 | $991 | $83 |
| Explorer Sport Trac Limited AWD | $242 | $386 | $250 | $14 | $74 | $991 | $83 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Explorer Sport Trac XLT 2WD | $104 | $168 | $250 | $14 | $74 | $610 | $51 |
| Explorer Sport Trac Limited 2WD | $118 | $168 | $250 | $14 | $74 | $624 | $52 |
| Explorer Sport Trac XLT 4WD | $118 | $168 | $250 | $14 | $74 | $624 | $52 |
| Explorer Sport Trac Limited 4WD | $134 | $204 | $250 | $14 | $74 | $676 | $56 |
| Explorer Sport Trac Limited AWD | $134 | $204 | $250 | $14 | $74 | $676 | $56 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Prices do not factor in your specific Charlotte location which can lower or raise prices significantly.
Based on these figures, using a $100 deductible could cost the average driver approximately $25 more each month or $300 every year averaged for all Explorer Sport Trac models than buying the higher $1,000 deductible. Because you would pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you have at a minimum 36 months between claim filings, you would save money if you choose the higher deductible.
How to determine if raising deductibles makes sense
| Average monthly premium for $100 deductibles: | $78 |
| Average monthly premium for $1,000 deductibles (subtract): | – $53 |
| Monthly savings from raising deductible: | $25 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $25 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 36 months |
One thing to be aware of is that raising deductibles means you will have to pay more when you have a claim. You will want to have some savings in the event you need to pay the higher deductible in order to repair your vehicle.
The example below shows how choosing a deductible and can raise or lower Ford Explorer Sport Trac insurance costs for different ages of insureds. The rates are based on a married male driver, full coverage, and no discounts are factored in.
Impact of speeding/accidents on Charlotte auto insurance rates
The chart below demonstrates how traffic citations and at-fault collisions raise Ford Explorer Sport Trac car insurance rates for different age groups. The costs are based on a married female driver, comp and collision included, $100 deductibles, and no other discounts are factored in.
Ford Explorer Sport Trac liability-only versus full coverage
The example below shows the difference between Ford Explorer Sport Trac car insurance costs with full physical damage coverage and with liability coverage only. The premiums are based on a clean driving record, no at-fault accidents, $500 deductibles, drivers are single, and no additional discounts are factored in.
When to stop buying full coverage
There is no exact formula to drop physical damage coverage, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.
For example, let’s say your Ford Explorer Sport Trac claim settlement value is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company would pay you is $7,000 after you pay the deductible. If you are paying over $700 a year for your policy with full coverage, then you might consider buying liability only.
There are a few situations where buying only liability insurance is not advised. If you haven’t paid off your loan, you have to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should not eliminate full coverage.
When to get advice from an insurance agent
A small number of people would rather go talk to an agent and doing so can bring peace of mind An additional benefit of price shopping on the web is that you can find cheap car insurance quotes and still choose a local agent. Buying from local insurance agencies is important especially in Charlotte.
Once you complete this quick form, the quote information is emailed to local insurance agents who will gladly provide quotes for your insurance coverage. There is no need to visit any agencies due to the fact that quote results will go to your email. It’s the lowest rates without a big time investment. If you want to get a price quote from a specific insurance company, you just need to jump over to their website and fill out the quote form the provide.
Multiple types of car insurance agents in Charlotte
If you prefer to buy car insurance from an insurance agent, it helps to know the two different types of agents that you can choose from. Agents in Charlotte can be categorized as either independent or exclusive depending on the company they work for.
Independent Car Insurance Agents
Independent insurance agents are appointed with more than one company so they have the ability to put coverage amongst many companies and help determine which has the cheapest rates. If premiums increase, an independent agent can move your coverage and you don’t have to do anything. If you are comparing rate quotes, you need to include price quotes from at a minimum one independent agency to get the best comparison. They also have the ability to place coverage with different regional companies that may have much lower rates than larger companies.
The following is a list of independent agents in Charlotte who may provide price quote information.
- The Hoffman Agency, LLC
2015 Ayrsley Town Blvd – Charlotte, NC 28273 – (704) 280-8585 – View Map - Johnson Insurance Management, LLC
3220 Wilkinson Boulevard Ste A3 – Charlotte, NC 28208 – (704) 394-7327 – View Map - The Jordan Insurance Agency,LLC
13860 Ballantyne Corporate Pl #120 – Charlotte, NC 28277 – (704) 926-7565 – View Map
Exclusive Car Insurance Agents
Agents that elect to be exclusive can only provide one company’s prices like Allstate, Farmers Insurance or State Farm. Exclusive agents cannot provide other company’s prices so they have no alternatives for high prices. These agents are very knowledgeable on their company’s products which helps them sell on service rather than price. Drivers often purchase coverage from exclusives mostly because of high brand loyalty and strong financial ratings.
Shown below are exclusive agencies in Charlotte willing to provide price quotes.
- Brian McCaw – State Farm Insurance Agent
5950 Fairview Rd #220 – Charlotte, NC 28210 – (704) 554-0144 – View Map - Allstate Insurance: Bob White
601 S Kings Dr, Ste FF – Charlotte, NC 28204 – (704) 376-3479 – View Map - Allstate Insurance: Michael Randolph
1001 W W.T. Harris Blvd m – Charlotte, NC 28213 – (704) 549-1710 – View Map
Picking an car insurance agent shouldn’t rely on just the quoted price. The answers to these questions are important, too.
- Are they giving you every discount you deserve?
- Does the agency have a current Errors and Omissions policy?
- Do they see any coverage gaps in your plan?
- Are they able to influence company decisions when a claim is filed?
- How many years of experience in personal auto insurance do they have?
- Do the agents have professional certifications like CPCU or CIC?
- Can you use your own choice of collision repair facility?
- How would your car be valued if totaled?
Insurance protects more than just your car
Despite the fact that insurance is not cheap in Charlotte, buying insurance may be mandatory for several reasons.
- Just about all states have mandatory insurance requirements which means you are required to carry a minimum amount of liability insurance if you want to drive legally. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you took out a loan on your Ford, it’s guaranteed your bank will make it mandatory that you buy insurance to guarantee loan repayment. If you do not pay your insurance premiums, the lender may have to buy a policy to insure your Ford for a lot more money and require you to fork over much more than you were paying before.
- Insurance safeguards not only your Ford but also your assets. It also can pay for medical expenses for not only you but also any passengers injured in an accident. Liability coverage will also pay attorney fees if someone files suit against you as the result of an accident. If mother nature or an accident damages your car, collision and comprehensive coverages will cover the damage repairs after a deductible is paid.
The benefits of having insurance definitely exceed the price paid, particularly if you ever have a claim. An average driver in America is overpaying over $865 each year so you should quote and compare rates every year to save money.
Auto insurance coverage specifics
Understanding the coverages of your auto insurance policy can help you determine the right coverages at the best deductibles and correct limits. Auto insurance terms can be difficult to understand and reading a policy is terribly boring.
Auto liability
This coverage provides protection from damages or injuries you inflict on other people or property in an accident. It consists of three limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have values of 30/60/25 that means you have a limit of $30,000 per injured person, a per accident bodily injury limit of $60,000, and property damage coverage for $25,000. Another option is one limit called combined single limit (CSL) that pays claims from the same limit without having the split limit caps.
Liability insurance covers claims like repair bills for other people’s vehicles, bail bonds and funeral expenses. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as much as you can afford. North Carolina requires drivers to carry at least 30/60/25 but you should think about purchasing better liability coverage.
The chart below shows why buying the state minimum limits may not be enough.
Uninsured Motorist or Underinsured Motorist insurance
Your UM/UIM coverage provides protection when other motorists either are underinsured or have no liability coverage at all. Covered claims include injuries to you and your family and also any damage incurred to your Ford Explorer Sport Trac.
Since a lot of drivers carry very low liability coverage limits (North Carolina limits are 30/60/25), it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important. Usually your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.
Insurance for medical payments
Medical payments and Personal Injury Protection insurance reimburse you for expenses such as EMT expenses, rehabilitation expenses, funeral costs and X-ray expenses. The coverages can be utilized in addition to your health insurance plan or if you do not have health coverage. It covers not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. PIP is not an option in every state but can be used in place of medical payments coverage
Collision coverage protection
Collision coverage pays for damage to your Explorer Sport Trac caused by collision with another vehicle or an object, but not an animal. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision insurance covers claims like crashing into a ditch, sideswiping another vehicle, scraping a guard rail and colliding with another moving vehicle. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are older. Drivers also have the option to raise the deductible on your Explorer Sport Trac to save money on collision insurance.
Comprehensive coverage (or Other than Collision)
Comprehensive insurance coverage pays for damage from a wide range of events other than collision. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims like damage from flooding, damage from getting keyed, theft, hitting a deer and vandalism. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
Smart consumers save more
Some insurance providers don’t offer rate quotes online and most of the time these small insurance companies prefer to sell through independent insurance agents. Cheap Ford Explorer Sport Trac insurance in Charlotte is available online in addition to many Charlotte insurance agents, and you should be comparing both to get a complete price analysis.
People leave their current company for many reasons like poor customer service, unfair underwriting practices, delays in paying claims and high rates after DUI convictions. Regardless of your reason, switching car insurance companies can be less work than you think.
We just presented a lot of techniques to shop for Ford Explorer Sport Trac insurance online. The most important thing to understand is the more times you quote, the higher your chance of finding inexpensive Charlotte auto insurance quotes. You may even discover the lowest prices are with a lesser-known regional company.
Even more information can be found at these sites:
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- What Insurance is Cheapest for Safe Drivers in Charlotte? (FAQ)
- Who Has Cheap Auto Insurance Rates for Drivers with Good Credit in Charlotte? (FAQ)
- Who Has Cheap Auto Insurance Quotes for a Nissan Versa in Charlotte? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for a Dodge Ram in Charlotte? (FAQ)
- How Much are Car Insurance Rates with Multiple Speeding Tickets in Charlotte? (FAQ)
- Who Has the Cheapest Charlotte Car Insurance for Drivers with a DUI? (FAQ)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)
- Crash Avoidance Technologies FAQ (iihs.org)