It’s easy to assume that car insurance companies don’t want you to compare rates. Consumers who shop around for cheaper prices will most likely buy a different policy because there is a significant possibility of finding lower prices. Surprisingly, a recent survey revealed that people who faithfully checked for cheaper rates saved over $3,450 over four years compared to drivers who never shopped around for lower prices.
If finding discount rates on insurance in Charlotte is the reason you’re reading this, then having an understanding of the best way to shop and compare insurance rates can help you succeed in saving money.
The best way to get cheaper auto insurance rates is to compare quotes annually from companies who provide auto insurance in Charlotte. Price quotes can be compared by following these steps.
- First, read about individual coverages and the things you can change to drop your rates. Many risk factors that are responsible for high rates such as careless driving and a poor credit rating can be amended by paying attention to minor details. Read the full article for the details to get cheaper coverage and get additional discounts that may have been overlooked.
- Second, request rate estimates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only give prices from a single company like GEICO and State Farm, while independent agents can provide prices from multiple insurance companies.
- Third, compare the new rate quotes to your existing coverage and see if you can save money. If you can save some money and decide to switch, make sure coverage is continuous and does not lapse.
- Fourth, notify your current company to cancel your current policy and submit payment and a signed application for your new policy. Don’t forget to safely store the certificate of insurance somewhere easily accessible.
A valuable tip to remember is that you’ll want to make sure you compare identical limits and deductibles on each quote request and and to get rate quotes from as many carriers as you can. This helps ensure a fair rate comparison and and a good selection of different prices.
This article’s intent is to familiarize you with how to compare rates easily and how you can save the most money. If you have auto insurance now, you will be able to cut your premiums using the tips covered below. Although North Carolina drivers should learn the methods companies use to sell insurance online and use it to find better rates.
Quote Charlotte Chevy Suburban insurance online
When looking for low cost Charlotte car insurance quotes, there are a couple ways of comparing price quotes from companies that offer car insurance in North Carolina. The easiest way by far to compare rates consists of shopping online. Just remember that comparing a large number of companies helps you find the best rates.
The following companies are ready to provide price comparisons in North Carolina. If you wish to find the best car insurance in Charlotte, NC, we recommend you visit as many as you can to get a more complete price comparison.
Rates and other information
The data table displayed next covers estimates of insurance premium costs for Chevy Suburban models. Learning as much as possible about how policy rates are formulated can aid in making smart choices when selecting a coverage provider.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Suburban LS 2WD | $128 | $230 | $324 | $20 | $96 | $798 | $67 |
| Suburban LT 2WD | $128 | $230 | $324 | $20 | $96 | $798 | $67 |
| Suburban LS 4WD | $128 | $230 | $324 | $20 | $96 | $798 | $67 |
| Suburban LT 4WD | $128 | $230 | $324 | $20 | $96 | $798 | $67 |
| Suburban LTZ 2WD | $128 | $272 | $324 | $20 | $96 | $840 | $70 |
| Suburban LTZ 4WD | $144 | $272 | $324 | $20 | $96 | $856 | $71 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Rates do not factor in garaging location in Charlotte which can increase or decrease coverage prices considerably.
Rate difference between full and liability-only coverage
The example below illustrates the comparison of Chevy Suburban annual premium costs with and without physical damage coverage. The costs are based on no violations or claims, $1,000 deductibles, drivers are not married, and no discounts are applied.
Should you buy full coverage or liability only?
There is no exact rule to stop paying for full coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is more than around 10% of the settlement you would receive from your company, then you may want to consider only buying liability coverage.
For example, let’s assume your Chevy Suburban book value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company will settle for is $3,000 after paying the physical damage deductible. If premiums are more than $300 a year for physical damage coverage, then you might want to think about dropping full coverage.
There are some situations where only buying liability is not a good plan. If you haven’t paid off your loan, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should keep full coverage in place.
Protect more than your Chevy vehicle
Despite the potentially high cost of Chevy Suburban insurance, insurance is required for several reasons.
- Almost all states have minimum mandated liability insurance limits which means you are required to buy specific minimum amounts of liability insurance coverage in order to drive the car 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 Suburban, it’s most likely the lender will force you to have comprehensive coverage to guarantee loan repayment. If you do not keep the policy in force, the bank will be required to insure your Chevy for a much higher rate and force you to pay for it.
- Insurance protects your Chevy and your assets. It will also pay for most medical and hospital costs incurred in an accident. One policy coverage, liability insurance, will also pay for a defense attorney if you are named as a defendant in an auto accident. If you have damage to your Chevy as the result of the weather or an accident, your insurance policy will pay to repair the damage.
The benefits of having insurance outweigh the cost, especially for larger claims. The average driver in America is overpaying over $700 annually so you should quote and compare rates at every renewal to help ensure money is not being wasted.
What Affects Chevy Suburban Insurance Prices?
One of the most helpful ways to save on auto insurance is to to have a grasp of some of the factors that help calculate auto insurance rates. When you understand what determines premiums, this helps enable you to make changes that may reward you with lower premium levels.
The itemized list below are a partial list of the pieces utilized by car insurance companies to help set your rate level.
- Married people drive safer – Being married can get you a discount on your auto insurance bill. Marriage is viewed as being more responsible and it’s statistically proven that married drivers get in fewer accidents.
- Liability protection risk factors – Liability insurance will afford coverage if you are responsible for causing damage or personal injury in an accident. It provides for a legal defense which can be incredibly expensive. Liability insurance is quite affordable compared to other policy coverages, so drivers should buy more than the minimum limits required by law.
- Where you live factors in – Living in small towns and rural areas is a good thing when buying auto insurance. Drivers in populated areas have congested traffic and more time behind the wheel. Fewer drivers and short commutes means a lower chance of having an accident in addition to lower liability claims.
- Bundle policies and save money – Many companies give discounts to insureds who buy several policies from them. It’s known as a multi-policy discount. If you currently are using one company, you still need to comparison shop to guarantee you are still saving the most.
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Insurance loss data for a Chevy Suburban – Insurance companies analyze claim trends for every vehicle when determining insurance prices. Vehicles that historically have higher prevalence or dollar amount of losses will have higher rates.
The data below shows the insurance loss data used by companies for Chevy Suburban vehicles. For each coverage category, the statistical loss for all vehicles averaged together is considered to be 100. Percentage values below 100 suggest a better than average loss history, while percentage numbers above 100 indicate more frequent losses or tendency to have larger claims.
Chevrolet Suburban Insurance Loss Statistics Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Chevrolet Suburban 1500 4dr 2WD 90 92 90 67 Chevrolet Suburban 1500 4dr 4WD 109 113 124 72 70 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Quote. Compare. Save.
We just covered a lot of information how to lower your Chevy Suburban insurance prices in Charlotte. The most important thing to understand is the more companies you get rates for, the more likely it is that you will get a better rate. Consumers may even find the lowest prices come from the least-expected company.
Insureds change insurance companies for many reasons like an unsatisfactory settlement offer, policy cancellation, questionable increases in premium or delays in responding to claim requests. Whatever your reason, choosing a new company can be easier than you think.
A few companies do not offer online price quotes and these smaller companies only sell coverage through independent agents. Budget-friendly auto insurance in Charlotte is possible both online and also from your neighborhood Charlotte agents, so you should be comparing quotes from both to have the best chance of lowering rates.
Additional information is available on the following sites:
- Information for Teen Drivers (GEICO)
- Who Has Cheap Charlotte Car Insurance for Unemployed Drivers? (FAQ)
- Who Has Cheap Charlotte Auto Insurance for 4×4 Vehicles? (FAQ)
- Who Has the Cheapest Charlotte Car Insurance Rates for a Subaru Outback? (FAQ)
- Who Has Cheap Car Insurance for High School Students in Charlotte? (FAQ)
- How Much are Car Insurance Quotes for a Toyota Corolla in Charlotte? (FAQ)
- How Much are Car Insurance Rates with Multiple Speeding Tickets in Charlotte? (FAQ)
- What Car Insurance is Cheapest for Hybrid Vehicles in Charlotte? (FAQ)
- Who Has Cheap Auto Insurance for a Dodge Grand Caravan in Charlotte? (FAQ)
- Cellphones, Texting and Driving (iihs.org)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)