The best way to get discount Mitsubishi Lancer insurance in Charlotte is to make a habit of comparing prices annually from providers who can sell car insurance in North Carolina. Prices can be compared by following these steps.
- Spend a few minutes and learn about how insurance works and the measures you can take to keep rates low. Many rating criteria that cause rate increases like at-fault accidents, speeding tickets, and a not-so-good credit rating can be amended by making minor changes in your lifestyle. Continue reading for more details to help prevent high rates and get bigger discounts.
- Request rate estimates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can give quotes from one company like Progressive or State Farm, while independent agencies can quote rates from multiple companies.
- Compare the new rate quotes to your existing policy to determine if switching companies saves money. If you find a lower rate quote and change companies, make sure there is no lapse in coverage.
- Tell your current agent or company of your decision to cancel the current policy and submit a signed application and payment to the new company. Once the paperwork is finalized, put the new certificate verifying coverage somewhere easily accessible.
The most important part of this process is to make sure you enter the same level of coverage on each quote and and to analyze all possible companies. Doing this enables an accurate price comparison and and a good selection of different prices.
It’s a fact that auto insurance companies don’t want you shop around. Insureds who shop around for the cheapest rate will most likely buy a new policy because there is a high probability of finding good coverage at a lower price. A recent survey found that drivers who compared prices regularly saved on average $72 a month compared to people who never compared prices.
If saving the most money on car insurance is the reason for your visit, then knowing how to get rate quotes and compare auto insurance can make it simple to find affordable coverage.
To find affordable Charlotte car insurance quotes, there are several ways of comparing price quotes from many available auto insurance companies in North Carolina. The best method to do a complete rate comparison is to use the internet to compare rates.
Doing online rates comparisons is so easy that it makes it obsolete to drive to each insurance agency near you. Comparing Mitsubishi Lancer insurance rates online has made agencies unnecessary unless you prefer the personal advice only provided by licensed agents. It is possible with some companies find lower rates online and have a local agent actually service the policy. Just remember that making a lot of price comparisons provides better odds of finding the best price.
The following companies can provide price comparisons in Charlotte, NC. In order to find the cheapest car insurance in Charlotte, NC, we suggest you compare several of them to get the most affordable price.
Car insurance analysis for a Mitsubishi Lancer
The coverage table displayed next showcases estimates of rate quotes for Mitsubishi Lancer models. Knowing how insurance rates are calculated can assist in making decisions on which coverage to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Lancer DE | $248 | $382 | $326 | $20 | $98 | $1,074 | $90 |
| Lancer ES | $248 | $382 | $326 | $20 | $98 | $1,074 | $90 |
| Lancer GTS | $276 | $440 | $326 | $20 | $98 | $1,160 | $97 |
| Lancer Sportback GTS | $276 | $440 | $326 | $20 | $98 | $1,160 | $97 |
| Lancer RALLIART | $304 | $498 | $326 | $20 | $98 | $1,246 | $104 |
| Lancer Sportback Ralliart | $304 | $498 | $326 | $20 | $98 | $1,246 | $104 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Table data does not factor in vehicle garaging location which can increase or decrease coverage rates considerably.
Comparison of full coverage and liability-only policies
The chart below visualizes the comparison of Mitsubishi Lancer car insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in North Carolina. The data assumes no violations or claims, $1,000 deductibles, single status, and no discounts are taken into consideration.
Are you wasting money paying for full coverage?
There is no definitive rule of when to stop paying for physical damage insurance, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is 10% or more of the replacement cost minus the deductible, then it may be the right time to buy liability only.
For example, let’s say your Mitsubishi Lancer replacement value is $3,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would receive is $2,000 after you pay the deductible. If premium cost is more than $200 a year for physical damage coverage, then you might want to consider buying only liability coverage.
There are some scenarios where removing full coverage is not recommended. If you still owe a portion of the original loan, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not buy liability only.
Insuring your vehicle just makes sense
Even though Charlotte Lancer insurance rates can get expensive, maintaining insurance may be required for several reasons.
- The majority of states have minimum mandated liability insurance limits which means the state requires a minimum amount of liability protection in order to get the vehicle licensed. 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 have a lien on your Lancer, it’s most likely the lender will have a requirement that you have comprehensive coverage to guarantee payment of the loan. If you default on your policy, the bank may buy a policy for your Mitsubishi at a significantly higher premium and make you pay for the much more expensive policy.
- Insurance preserves not only your Mitsubishi Lancer but also your financial assets. It will also provide coverage for all forms of medical expenses for you, any passengers, and anyone injured in an accident. One policy coverage, liability insurance, also pays expenses related to your legal defense in the event you are sued. If mother nature or an accident damages your car, your insurance policy will pay to restore your vehicle to like-new condition.
The benefits of insuring your Lancer more than cancel out the cost, particularly if you ever have a claim. But the average American driver overpays more than $865 each year so compare rate quotes each time the policy renews to help ensure money is not being wasted.
Slash your car insurance rates with these nine discounts
Insuring your fleet can be pricey, but there may be some discounts that may help make it more affordable. Some of these discounts will be visible at the time you complete a quote, but some need to be specifically requested in order for you to get them.
- Discount for Multiple Policies – When you combine your auto and homeowners insurance with one company you may earn as much as 10 to 15 percent.
- Home Ownership Discount – Simply owning a home may trigger a policy discount on car insurance since home ownership shows financial diligence.
- Early Payment Discounts – If you pay your entire premium ahead of time instead of monthly or quarterly installments you could save 5% or more.
- Student Driver Training – Teen drivers should successfully take a driver’s education course as it will make them better drivers and lower rates.
- Discounts for Government Workers – Active or retired federal employment can save as much as 8% with some car insurance companies.
- New Vehicle Savings – Insuring a new Lancer can save up to 30% since new model year vehicles have better safety ratings.
- College Student Discount – Any of your kids who are attending college and do not take a car to college could get you a discount.
- Military Rewards – Having an actively deployed family member may lower your premium rates slightly.
- Online Discount – Certain car insurance companies will give a small break for signing up over the internet.
Policy discounts save money, but most discount credits are not given to your bottom line cost. A few only apply to the price of certain insurance coverages like liability and collision coverage. Even though the math looks like it’s possible to get free car insurance, you’re out of luck. Any qualifying discounts will reduce the amount you have to pay.
The chart below illustrates the difference between Mitsubishi Lancer insurance premiums with and without discounts applied to the policy premium. Data assumes a female driver, a clean driving record, no claims, North Carolina state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-policy, safe-driver, multi-car, claim-free, and homeowner discounts applied.
For a list of providers that offer many of these discounts in Charlotte, click here to view.
Compare rate quotes but buy from a local Charlotte insurance agent
A small number of people just prefer to buy from a licensed agent and that is recommended in a lot of cases The biggest benefit of comparing rate quotes online is you can get cheap rate quotes and still have a local agent. Buying from and supporting local agents is definitely important in Charlotte.
To help locate an agent, after submitting this quick form, your insurance coverage information is instantly submitted to local insurance agents in Charlotte who will give competitive quotes for your coverage. It’s much easier because you don’t need to search for an agent due to the fact that quote results will go directly to you. You can find lower rates AND a local agent. If you need to get a comparison quote from a specific company, you would need to navigate to their website and fill out their quote form.
Selecting an insurance company should depend on more than just a low price. Here are some questions you should ask.
- How would your car be valued if totaled?
- Which insurance companies are they affiliated with?
- If independent agents, which companies do they recommend?
- Can you choose the body shop in case repairs are needed?
- Are aftermarket or OEM parts used to repair vehicles?
- Do they receive special compensation for putting your coverage with one company over another?
If you receive positive responses for all questions you ask as well as offering an affordable quote, you have narrowed it down to a company that can be relied on to provide insurance coverage. But keep in mind you are entitled to terminate your policy whenever you want so never assume that you are obligated to any specific company with no way to switch.
Car insurance coverage basics
Having a good grasp of your car insurance policy aids in choosing the best coverages and proper limits and deductibles. Car insurance terms can be difficult to understand and reading a policy is terribly boring. Shown next are the normal coverages offered by car insurance companies.
Coverage for medical expenses – Coverage for medical payments and/or PIP pay for expenses such as surgery, EMT expenses, hospital visits, dental work and rehabilitation expenses. They are often used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. They cover all vehicle occupants and will also cover any family member struck as a pedestrian. PIP is not available in all states but can be used in place of medical payments coverage
Collision – Collision insurance pays for damage to your Lancer resulting from colliding with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.
Collision coverage pays for claims like driving through your garage door, hitting a mailbox, damaging your car on a curb and colliding with a tree. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. Drivers also have the option to bump up the deductible on your Lancer to save money on collision insurance.
Comprehensive car insurance – Comprehensive insurance will pay to fix damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive coverage pays for things such as a broken windshield, theft, hitting a bird, damage from flooding and hail damage. The highest amount a car insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.
Coverage for uninsured or underinsured drivers – This provides protection when other motorists are uninsured or don’t have enough coverage. Covered claims include injuries to you and your family and damage to your Mitsubishi Lancer.
Because many people only purchase the least amount of liability that is required (30/60/25), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family. Most of the time these limits do not exceed the liability coverage limits.
Liability insurance – This coverage will cover damage that occurs to other people or property that is your fault. Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see values of 30/60/25 which stand for $30,000 in coverage for each person’s injuries, a limit of $60,000 in injury protection per accident, and property damage coverage for $25,000. Some companies may use a combined single limit or CSL which provides one coverage limit with no separate limits for injury or property damage.
Liability coverage pays for claims such as emergency aid, legal defense fees, medical services and medical expenses. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase as high a limit as you can afford. North Carolina requires minimum liability limits of 30/60/25 but you should think about purchasing better liability coverage.
The next chart demonstrates why buying the state minimum limits may not be high enough to cover claims.
Cheaper insurance prices are available
We just covered a lot of information how to shop for Mitsubishi Lancer insurance online. The key concept to understand is the more times you quote, the higher the chance of saving money. Consumers may even find the lowest priced insurance comes from a small mutual company. These companies may have significantly lower rates on certain market segments compared to the large companies like Allstate and Progressive.
Discount Mitsubishi Lancer insurance in Charlotte is definitely available on the web in addition to many Charlotte insurance agents, so get free Charlotte car insurance quotes from both of them to have the best rate selection. A few companies do not offer internet price quotes and many times these small, regional companies provide coverage only through independent agents.
More resources
- Cellphones, Texting and Driving (iihs.org)
- How Much are Car Insurance Quotes for a Ford Explorer in Charlotte? (FAQ)
- What Car Insurance is Cheapest for a Kia Optima in Charlotte? (FAQ)
- Who Has Cheap Charlotte Auto Insurance for a Nissan Rogue? (FAQ)
- Who Has the Cheapest Car Insurance Rates for Inexperienced Drivers in Charlotte? (FAQ)
- Auto Insurance 101 (About.com)
- Side Impact Crash Tests (iihs.org)