Are you regretting buying high-priced Acura RL insurance in Charlotte? Don’t feel bad because there are many people just like you.
Shockingly, a large majority of consumers renewed their policy with the same company for at least the last four years, and practically 40% of insurance customers have never even compared quotes to find lower-cost rates. Charlotte drivers can save hundreds of dollars each year by just comparing quotes, but most just don’t grasp the amount of money they would save if they replace their high priced policy. There is such a variety of insurers to choose from, and although it’s a good thing to be able to choose, lots of choices makes it harder to compare rates and find the lowest cost insurance.
Quoting affordable protection in Charlotte is not as hard as you may think. If you already have coverage or want to find a cheaper company, you can use these tips to find better prices without having to cut coverage. Smart shoppers only need to know the proper way to find the lowest price instantly.
Acura RL coverage statistics
The data table displayed below covers a range of coverage prices for Acura RL models. Having knowledge of how insurance premiums are established can be useful when making decisions on the best policy coverages.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| RL 3.7 | $338 | $594 | $326 | $20 | $98 | $1,376 | $115 |
| RL 3.7 with Tech Package | $338 | $594 | $326 | $20 | $98 | $1,376 | $115 |
| RL 3.7 with Tech/CMBS Package | $338 | $594 | $326 | $20 | $98 | $1,376 | $115 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Price estimates do not factor in vehicle location which can increase or decrease auto insurance rates significantly.
The diagram below illustrates how choosing a deductible and can increase or decrease Acura RL annual premium costs for different age groups. The data is based on a married female driver, full coverage, and no discounts are taken into consideration.
Cautious drivers save money
The illustration below shows how speeding tickets and fender-benders can impact Acura RL insurance costs for different age categories. The prices are based on a married female driver, full coverage, $100 deductibles, and no other discounts are factored in.
Does full coverage make sense?
The diagram below compares Acura RL insurance rates with full coverage and liability only. The data is based on no accidents, no driving violations, $250 deductibles, drivers are single, and no other discounts are factored in.
Guidelines for dropping full coverage
There is no clear-cut formula that is best for determining when to drop physical damage insurance, but there is a guideline you can consider. If the annual cost of coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.
For example, let’s say your Acura RL book value is $9,000 and you have $1,000 policy deductibles. If your vehicle is totaled, you would only receive $8,000 after paying your deductible. If premium cost is more than $800 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.
There are some cases where eliminating full coverage is not financially feasible. If you still have a loan on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should keep full coverage in place.
Seven Tips to Get Lower-cost Charlotte Insurance Costs
Part of the insurance buying process is learning the different types of things that are used to determine your insurance rates. When you understand what controls the rates you pay, this empowers consumers to make smart changes that can earn you better insurance rates.
The factors shown below are some of the items utilized by car insurance companies to help set prices.
Never let your insurance policy lapse – Driving without insurance coverage in place is not a good idea and you may have a hard time finding new coverage because you let your insurance expire. And not only will your rates increase, being ticketed for driving with no insurance could result in a revoked license or a big fine.
An active insurance claims history can cost you – Companies in North Carolina award lower rates to insureds who file claims infrequently. If you are a frequent claim filer, you can definitely plan on higher rates. Auto insurance is intended to be relied upon for claims that pose a financial burden.
Liability coverage claims can be big – The liability section of your policy will protect you if ever you are found liable for causing personal injury or damage in an accident. Your liability coverage provides legal defense which can be incredibly expensive. Liability is cheap compared to other policy coverages, so do not cut corners here.
More stress means more cost – Did you know your job can affect your rates? Careers like judges, air traffic controllers, and medical professionals tend to have higher average rates due to job stress and long work hours. Conversely, occupations like farmers, students and homemakers get better rates.
Avoid unnecessary add-on coverages – There are many extra coverages that you can get tricked into buying if you aren’t diligent. Insurance for roadside assistance, towing, and term life insurance could be just wasting money. These may sound like a good investment when discussing your needs, but if they’re wasting money consider taking them off your policy.
What type of car, truck or SUV do you drive? – The performance of the vehicle you own makes a big difference in the rate you pay. The cheapest insurance rates will normally be found when insuring lower performance four cylinder passenger models, but the cost you end up paying is determined by many additional factors.
The following chart uses these variables: single female driver age 30, full coverage with $500 deductibles, and no discounts or violations. The chart compares Acura RL insurance rates compared to other models that have a range of performances.
High credit equals lower premiums – Having a good credit score is likely to be a major factor in your rate calculation. Insureds that have very high credit ratings tend to be better drivers and file fewer claims than drivers with lower ratings. Therefore, if your credit score is lower than you’d like, you could potentially save money when insuring your Acura RL by improving your credit score.
Acura RL claim data – Insurance companies include the past claim history for a vehicle in order to profitably underwrite each model. Vehicles that the data shows to have high amounts or severity of claims will be charged more to insure. The table below illustrates the insurance loss data used by companies for Acura RL vehicles.
For each type of coverage, the claim amount for all vehicles, regardless of manufacturer or model, is represented as 100. Values under 100 suggest a positive loss record, while values over 100 point to more claims or an increased probability of a larger loss.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Acura RLX 4dr | 128 | 63 | 179 | 82 |
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Quote more and you will save more
As you go through the steps to switch your coverage, never skimp on critical coverages to save a buck or two. In many instances, drivers have reduced full coverage and discovered at claim time that it was a big mistake. The ultimate goal is to buy the best coverage you can find at the lowest possible cost, not the least amount of coverage.
In this article, we covered a lot of tips how to compare Acura RL insurance car insurance rates in Charlotte. The key concept to understand is the more companies you get premium rates for, the more likely it is that you will get a better rate. You may even find the best price on insurance is with a lesser-known regional company. These smaller insurers may have significantly lower premium rates on certain market segments than their larger competitors like Allstate and Progressive.
A few companies do not offer online price quotes and these smaller providers sell through independent agents. The cheapest Acura RL insurance in Charlotte can be found on the web in addition to many Charlotte insurance agents, and you need to price shop both in order to have the best price selection to choose from.
Steps to finding the cheapest rates for Acura RL insurance in Charlotte
The recommended way to find cheaper prices for car insurance rates in Charlotte is to make a habit of regularly comparing prices from different companies in North Carolina. This can be done by following these guidelines.
- Take a few minutes and learn about car insurance and the measures you can control to keep rates low. Many things that are responsible for high rates such as traffic citations, accidents, and an unacceptable credit score can be rectified by making small lifestyle or driving habit changes.
- Get rate quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from one company like Progressive and State Farm, while independent agencies can give you price quotes from multiple insurance companies. View prices
- Compare the price quotes to your current policy to determine if switching companies saves money. If you find a lower rate quote and switch companies, ensure coverage does not lapse between policies.
- Give proper notification to your current agent or company of your intention to cancel your current policy. Submit payment and a signed application for your new policy. Once coverage is bound, put the proof of insurance certificate in an accessible location in your vehicle.
One tip to remember is to compare identical deductibles and limits on every price quote and and to get price estimates from as many auto insurance providers as possible. Doing this helps ensure a level playing field and maximum price selection.
Additional insurance information is located below:
- Understanding Limits and Deductibles (Allstate)
- Who Has Cheap Auto Insurance Rates for Drivers with Good Credit in Charlotte? (FAQ)
- How Much are Charlotte Car Insurance Quotes for Government Employees? (FAQ)
- Who Has Affordable Auto Insurance Rates for a GMC Sierra in Charlotte? (FAQ)
- What Car Insurance is Cheapest for a Toyota Camry in Charlotte? (FAQ)
- How Much is Auto Insurance for Single Moms in Charlotte? (FAQ)
- Determining Your Vehicle’s Value and Repair Cost (Insurance Information Institute)
- All About Airbag Safety (State Farm)