Greensboro Car Insurance

Your Complete Guide to Greensboro, NC Car Insurance

Even the most cautious drivers can sometimes cause accidents. That is why Greensboro vehicle owners are required to have car insurance. From fender benders on Battleground Avenue to multi-car collisions on I-73, a reliable auto insurance policy can shield you from large financial losses after an accident.

Independent agents in Greensboro make shopping for car insurance stress-free. These agents can provide you with a variety of auto insurance quotes so you can be sure you are getting your policy at a competitive price. 

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North Carolina Car Insurance Requirements

If you own a car in North Carolina, you are required to have car insurance that meets or exceeds the following:

  • Bodily injury liability: Required
  • Property damage liability: Required
  • Personal injury protection (PIP): Required
  • Uninsured motorist coverage: Required
  • Minimum liability limits: 30/60/15; coverage up to $60,000 for all persons injured in an accident, subject to a limit of $30,000 for one individual; and $15,000 coverage for property damage.

A basic car insurance policy that merely meets North Carolina’s minimum coverage requirements will likely provide you with the coverage you need for minor collisions. However, if you are responsible for a serious accident that results in severe injuries, your liability costs can easily exceed what your policy will cover. In that case you would be responsible for making up the difference. 

That is why many Greensboro vehicle owners choose to purchase car insurance that has higher-than-required liability coverage. Some people also purchase umbrella insurance policies in order to further boost their liability coverage and better protect their assets.

How Much Does Auto Insurance Cost in Greensboro, NC?

North Carolina is the 44th most expensive state for car insurance. The average car insurance rate in Greensboro is higher than the state average but lower than the national average.

  • National average annual car insurance cost: $1,311
  • North Carolina average annual car insurance cost: $986
  • Greensboro average annual car insurance cost: $1,267

Auto insurance rates can vary significantly from one person to the next, so these figures can only give you a ballpark idea of what your actual costs might be. This is because costs are calculated according to several different factors, including:

  • The year, make, model, and trim of the vehicle(s) you are insuring
  • Your age, driving record, occupation, and credit score
  • Information about the other drivers in your household
  • How much liability coverage you are purchasing
  • Whether you own or rent your home
  • The accident and auto theft rates in the vicinity of your home

You can often get lower rates if you qualify for certain discounts, such as for having a safe driving record or bundling your coverage with another policy like home insurance or renters insurance. Independent agents can help you find the coverage you want at the most competitive price.

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Number of Uninsured Motorists in North Carolina

If you are caught driving an uninsured vehicle in North Carolina, you can be penalized with the suspension of your registration, fines, fees, and probation or jail time. Despite this, almost one in ten drivers in this state does not have car insurance.

  • How many US drivers are uninsured? 12.6%.
  • How many North Carolina drivers are uninsured? 9.1%.

Uninsured motorist insurance guarantees that you will get the compensation you deserve if an uninsured, underinsured, or hit-and-run driver is responsible for a collision with your vehicle. Your insurance company will then assume the challenging task of collecting the money owed from the at-fault driver. 

Uninsured motorist coverage is optional in many states. However, it is required in North Carolina.

Number of Auto Thefts in Greensboro

The auto theft rate in North Carolina is lower than the national average, and in Greensboro, the risk is even lower. This does not mean it doesn’t exist. More than 500 vehicles are stolen in this city every year.

  • National auto theft rate per 1,000 vehicles: 2.94
  • North Carolina auto theft rate per 1,000 vehicles: 2.12
  • Greensboro auto theft rate per 1,000 vehicles: 1.86

Comprehensive insurance is necessary in order to be compensated for an auto theft. This “other than collision” coverage is optional, but most lenders will require that you include it in your car insurance policy until your auto loan is paid in full. 

In addition to auto theft, comprehensive insurance also provides coverage for other non-collision damage such as that caused by falling objects, heavy winds, floods, and fires. Talk to your independent agent to learn more.

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Why Work with an Independent Insurance Agent?

As a vehicle owner in Greensboro, you can turn to a local independent agent for help when you are searching for the best price for car insurance. These agents are free to work with several different insurance companies to help you find a dependable and affordable policy.

Contact an agent with an office in Greensboro to learn more. You can start comparing quotes for customized, competitively  priced auto insurance in no time.

Sources © 2019, Consumer Agent Portal, LLC. All rights reserved.

http://www.naic.org/prod_serv/AUT-PB-14.pdf

http://www.city-data.com

© 2019, Consumer Agent Portal, LLC. All rights reserved.

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