Durham Car Insurance
Find the right car insurance policy for you.
Written by
Financial blogger and business owner, Meg Stefanac, has more than 15 years experience working in the financial services industry and enjoys helping individuals make solid financial decisions. Meg has extensive experience writing about insurance and finances and is a key contributor to TrustedChoice.com.
Even the most cautious drivers can sometimes find themselves involved in an accident. That is why Durham, North Carolina vehicle owners are required to have car insurance. From fender benders on Duke Street to multi-car collisions on I-85, a reliable auto insurance policy can shield you from facing a large financial loss in the wake of a collision. Finding the best car insurance is easy when you work with an independent insurance agent with an office in Durham. These agents can provide you with a variety of customized auto insurance quotes so you can be sure you are purchasing a competitively priced policy.
North Carolina Car Insurance Requirements
Every state has its own auto insurance requirements. In the state of North Carolina, your car insurance policy must include, at a minimum, the following:
- Bodily injury liability: Required
- Property damage liability: Required
- Personal injury protection (PIP): Not required
- Uninsured motorist coverage: Required
- Minimum liability limits: 30/60/25; coverage up to $60,000 for all persons injured in an accident, subject to a limit of $30,000 for one individual; and $25,000 coverage for property damage.
A policy that simply meets the minimum requirements may be your least expensive option; however, it is not necessarily the best choice. While North Carolina’s requirements are generally high enough to cover most minor collisions, a major accident — especially one involving significant injuries —can easily exceed what a minimum coverage policy will cover. In that case, you would be responsible for making up the difference.
That is why many Durham vehicle owners choose to purchase car insurance with higher liability insurance limits than the state requires. Some people also choose to purchase an umbrella insurance policy to get even more liability coverage. Your independent agent can help you find the liability coverage you want at a price you can afford.
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How Much Does Auto Insurance Cost in Durham, North Carolina?
North Carolina is the 44th most expensive state for car insurance. The average car insurance rate in this state is significantly lower than the national average; but in Durham, the average cost is higher. This makes comparison shopping for the best rate even more important.
- National average annual car insurance cost: $1,311
- North Carolina average annual car insurance cost: $986
- Durham Average Annual Car Insurance Cost: $1,416
Of course, the figures above can only give you a basic idea of how much you might be expected to pay. Car insurance costs vary significantly from one driver to the next because they are calculated on a case-by-case basis according to several different factors. Examples of things that can influence your cost include:
- The make, model, year of your vehicle(s)
- Your age, gender, occupation, driving history, and even credit score
- Whether you own or rent your home
- The estimated number of miles you drive annually
- The accident and auto theft rates in the vicinity of your home
- Whether you are bundling your coverage with another policy such as home insurance or renters insurance
You may qualify for discounted rates if you have taken a driver’s education course, have a good driving record, or are a student who is getting good grades. Each insurance company has a different way of calculating rates. Comparison shopping can, therefore, save you a lot of money. An independent agent in Durham can help you easily obtain and compare a selection of car insurance quotes from highly-rated insurers.
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Number of Uninsured Motorists in North Carolina
In North Carolina, driving without insurance is a Class 1 misdemeanor. If caught, you can be fined, have your plates and registration suspended, and face probation or even jail time. Despite this, nearly one in ten drivers in this state are operating an uninsured vehicle.
- How many US drivers are uninsured? 12.6%.
- How many North Carolina drivers are uninsured? 9.1%.
If you are in an accident that is caused by an uninsured driver, that person is expected to reimburse you for your damage and any necessary medical treatment. Unfortunately, it can be very difficult and time-consuming to collect restitution on your own. That is why uninsured motorist insurance was created. It ensures that you will get the compensation you deserve quickly and easily.
Uninsured motorist insurance is optional in many states, but in North Carolina, it is required. This insurance covers your damage and injuries if you are in a collision with an uninsured, underinsured, or hit-and-run driver. Your insurance company will then attempt to collect the owed funds from the at-fault driver and will absorb the costs if they are unsuccessful.
Number of Auto Thefts in Durham, NC
The auto theft rate in Durham is higher than the state rate but lower than the national rate. There are more than 600 cars stolen in this city in a typical year.
- National auto theft rate per 1,000 vehicles: 2.94
- North Carolina auto theft rate per 1,000 vehicles: 2.12
- Durham auto theft rate per 1,000 vehicles: 2.37
It is important that you are aware that you cannot be compensated for an auto theft unless your policy includes comprehensive, or “other than collision,” insurance. This insurance is optional, but most lenders will require you to carry it until your auto loan is paid in full. Comprehensive insurance can be beneficial. It covers more than just auto theft. It also reimburses you for loss and damage caused by a wide range of other non-collision hazards such as falling objects, floods, structure fires, and vandalism.
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Why Work with an Independent Insurance Agent?
Vehicle owners in Durham can turn to a local independent agent for help when they are searching for the right auto insurance. These agents are free to work a variety of insurance providers to help this city’s drivers find the most reliable and affordable policies.
Find an agent in or near Durham to learn more. You can start comparing customized car insurance quotes in no time.