Accidents can happen to anyone. That’s why if you own a vehicle in Holly Springs, you are required by North Carolina law to carry car insurance. From fender benders on Main Street to multi-vehicle collisions on the NC-55 Bypass, a reliable auto insurance policy can shield you from large financial losses following an accident.
Finding the best car insurance is easy when you work with a local independent agent. These agents can obtain a variety of customized auto insurance quotes on your behalf. That way, you can be sure you are getting your coverage at a competitive price. Find an insurance agent near you to get started.
How Much Does Car Insurance Cost in Holly Springs, NC?
The average cost of car insurance in North Carolina is lower than the national rate. Shopping around for the best price lets you be certain you are not overpaying for your coverage.
- National average annual car insurance cost: $1,311
- North Carolina average annual car insurance cost: $986
Of course, car insurance costs can vary greatly from one driver to the next. You should therefore expect your actual quoted rates to differ from the state’s average. Prices for coverage are calculated individually according to several considerations such as:
- The make, model, trim, and year of your the vehicle) you are insuring
- Your age, occupation, marital status, and driving history
- The estimated number of miles you drive your car each year
- The accident and auto theft rates in the vicinity of your home
- The amount of coverage you are purchasing
- Whether you are purchasing any offered coverage options
- Whether you are bundling your coverage with another policy like home insurance or renters insurance
When it comes to car insurance, experience matters. You can expect that a senior at Holly Springs High School will be charged higher rates than a 45-year-old accountant with no recent moving violations or accidents.
Comparing rates from a variety of insurance companies lets you be sure you are getting your policy at a competitive price. Independent insurance agents make comparison shopping easy and stress-free.
What Are the Car Insurance Requirements in Holly Springs?
As a vehicle owner in Holly Springs, you must remain in compliance with North Carolina’s car insurance laws.
This state requires drivers to carry liability insurance and uninsured motorist insurance. Liability insurance covers injuries and property damage that you may cause to other people, and uninsured motorist insurance covers damage others may cause to you while driving uninsured.
Your car insurance policy must include, at a minimum, the following:
- Liability coverage:
- Bodily injury liability insurance: $30,000 per person/$60,000 per accident
- Property damage liability insurance: $25,000 per accident
- Uninsured motorist coverage:
- Bodily injury insurance: $30,000 per person/$60,000 per accident
- Property damage insurance: $25,000 per accident
The costs that go along with a serious collision can easily exceed what a minimum coverage policy will pay for. That is why many residents of Holly Springs opt to purchase car insurance with more liability insurance than the state requires.
If you have a lot to lose and want even more liability coverage than your car insurance policy can offer, you can also purchase umbrella insurance, which is an affordable way to boost all of your liability coverage. A local independent agent can help you obtain a competitively priced policy.
What Else Can Holly Springs Car Insurance Cover?
In addition to the coverage that is required by law, insurance companies will give you the option of including any or all of the following coverage options in your car insurance policy:
- Comprehensive insurance: This can pay to repair or replace your vehicle if it is damaged by a non-collision event such as a flood or a windstorm. This coverage may be required by your lender if you are still paying for your vehicle, or by the dealership if you are leasing it.
- Collision insurance: This can pay to repair or replace your vehicle if it is damaged in a collision for which you are at fault. This coverage may be required by your lender if you are still paying for your vehicle, or by the dealership if you are leasing it.
- Gap insurance: This can bridge the gap between what you currently owe for your vehicle and what your vehicle is actually worth in the event that the vehicle is totaled. This coverage is highly recommended in the first few years of new vehicle ownership since new cars depreciate in value very quickly.
- Towing and roadside assistance insurance: This pays for assistance if your vehicle becomes disabled while you are out on the road.
- Rental reimbursement insurance: This can pay for the cost of renting a vehicle while repairs are being made to your car following a covered event.
Talk to an insurance agent in Holly Springs to learn more about these coverage options for help determining which, if any, are a good fit for you.
What Is the Penalty for Driving without Insurance in North Carolina?
Driving without insurance in North Carolina is illegal. If you are caught, you will be charged with a Class 3 misdemeanor. This comes with penalties such as:
- Fines ranging from $50 to $150.
- The suspension of your vehicle’s plates and registration for up to 30 days.
- A $50 reinstatement fee.
- Probation for up to 45 days.
- If you are involved in a collision while driving an uninsured vehicle, you can also lose your driver’s license for up to one year.
Even so, more than one in twenty drivers sharing the roads with you in this state are operating uninsured vehicles. This is why uninsured motorist insurance, which is required in North Carolina, is so important.
- Percentage of US drivers who are uninsured: 13.0%
- Percentage of North Carolina drivers who are uninsured: 6.5%
If you are in a collision caused by an uninsured, underinsured, or hit-and-run driver, uninsured motorist insurance can ensure that you have immediate coverage for any related medical bills and property damage. Your insurance company will then take on the difficult task of trying to collect the funds owed by the uninsured driver.
Talk to your agent to learn more about this mandatory coverage.
Does Holly Springs Car Insurance Cover against Vehicle Thefts?
The auto theft rate in North Carolina is lower than the national average. And in Holly Springs, the risk is even lower. Residents of this city report fewer than 10 auto thefts a year.
- National auto theft rate per 1,000 vehicles: 2.29
- North Carolina auto theft rate per 1,000 vehicles: 1.70
- Holly Springs, NC auto theft rate per 1,000 vehicles: 0.22
Despite the low theft rate, you should be aware that you cannot be compensated for a stolen car unless your auto insurance policy includes comprehensive, or “other than collision,” insurance.
Comprehensive insurance covers against far more than just theft. It can also reimburse you for loss and damage to your car due to a variety of other non-collision hazards.
If you are still paying for your car or if you have it on a lease, chances are good you have this coverage already. Otherwise, you can talk to your insurance agent to find out how much it will cost to add comprehensive coverage to your Holly Springs car insurance policy.
Why Contact an Independent Insurance Agent in Holly Springs, NC?
Vehicle owners in Holly Springs can turn to local independent agents for help when they are looking for a reliable auto insurance policy that meets their coverage and budgetary needs. These agents are free to work with several insurance providers, so they can shop around for the best and most affordable policies.
Find an independent insurance agent in or near Holly Springs to learn more. You can start comparing customized car insurance quotes in no time.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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