Who Has the Cheapest Car Insurance for Seniors in North Carolina?

The words “low-priced” and “insurance” really shouldn’t be used in the same sentence, in particular when looking for the best coverage prices for seniors. In an attempt to save some money, let’s take a look at a few of the factors that significantly impact car insurance prices, and see how we can help you lower the price of your next policy.

The make and model of vehicle you are insuring is one of the main factors when looking for cheap insurance for seniors. Vehicles with average performance, a plethora of safety features, or a low likelihood of liability claims will cost much less to insure than higher performance models. The next table showcases insurance prices for a number of the most cost-effective vehicles to buy insurance for.

Premium data assumes married female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Estimates do not factor in zip code location which can revise insurance rates substantially.

Based upon the table data, cars like the Honda Accord, Honda CR-V, Ford Escape, and Ford F-150 will definitely be the less-costly vehicles to insure for senior citizens.

Determining which companies have the most affordable car insurance rates for seniors requires a little more sweat in order to find the lowest price. Every insurance company uses a little different formula for determining rates, so let’s rank the car insurance companies that tend to have lower prices in North Carolina.

It’s important that readers know that North Carolina car insurance rates are calculated based on many things that control the price you pay. Simply having another birthday, adding a teenager to your policy, or getting a driving violation can trigger price changes that can now make some companies cheaper than competitors.

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Progressive generally has some of the best car insurance rates in North Carolina at around $639 per year. Utica National, Liberty Mutual, NC Farm Bureau, and Penn National also qualify as some of the cheapest North Carolina insurance companies.

As depicted above, if you are insured with Liberty Mutual and switched to Progressive, you might realize yearly savings of in the vicinity of $68. Drivers with NC Farm Bureau might save as much as $77 a year, and Penn National policyholders might see rate reductions of $78 a year.

To find the cheapest auto insurance for seniors in North Carolina for your vehicle, click here to get a free quote or quote rates from the companies below.

Be aware that those premiums are averaged for all drivers and vehicles in North Carolina and and are not calculated with a price decrease for seniors. So the company that can offer the best rates for your situation may not even be shown in the list of companies above. That illustrates why you need to get rate quotes from many companies using your own driver information and specific vehicle type.

Discounts on the cheapest auto insurance for seniors in North Carolina

Auto insurance companies that offer coverage for seniors may have policy discounts that may potentially lower prices by 40% or more if you qualify. A list of companies and some of the premium reductions they offer are shown below.

The chart below illustrates the difference between yearly insurance costs with and without discounts being applied to the rates. The price estimates are based on a female driver, no accidents or driving violations, North Carolina state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with claim-free, multiple vehicle, safe-driver, homeowner, anti-theft, and defensive driving course discounts applied. In this example, the average amount saved each year on car insurance for seniors is % or $.

google.charts.setOnLoadCallback(drawDiscqcibChart);function drawDiscqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Female Driver No Discounts’, ‘Female Driver with Discounts’],[‘Age 20’, 2255,881],[‘Age 30’, 1541,1619],[‘Age 40’, 1435,1115],[‘Age 50’, 1257,1041],[‘Age 60’, 1215,911],[‘Age 70’, 1425,881]]);var options = {title: ‘Insurance Premium Comparison for Seniors’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’:{left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#c096ca’, ‘#e1b7ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdisc’));chart.draw(data, options);}

Safe drivers pay less for car insurance

In a perfect world, the ideal way to receive the cheapest auto insurance for seniors in North Carolina is to drive carefully and have a clean driving record. The example below highlights how speeding tickets and accident claims can increase car insurance costs for different ages of insureds. The prices are based on a single female driver, full physical damage coverage, $1,000 deductibles, and no policy discounts are applied.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘One Speeding Ticket and No Accidents’, ‘One Speeding Ticket and One Accident’],[‘Age 20’, 1613,1757,2157],[‘Age 30’, 1097,1243,1643],[‘Age 40’, 1025,1169,1569],[‘Age 50’, 897,1041,1445],[‘Age 60’, 867,1013,1413],[‘Age 70’, 1019,1165,1567]]);var options = {title: ‘Impact of Tickets and Claims on North Carolina Auto Insurance Rates’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in North Carolina’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

The data in the chart shows the average cost of car insurance in North Carolina per year with no accidents and a clean driving record is $1,086. Factor in one speeding ticket and the average cost swells to $1,231, an increase of $145 each year. Now add in one accident along with the one speeding ticket and the yearly cost of car insurance for seniors increases to an average of $1,632. That’s an increase of $546, or $46 per month, just for not keeping your driving record clean!

How to find more affordable insurance for seniors

Below you’ll find some of the recommended thrifty ideas that can help North Carolina drivers quote low-cost coverage.

• Good credit can save money
• Avoid at-fault accidents and claims
• Do not insure for full coverage
• Be a cautious driver
• Increase physical damage deductibles
• Get cheaper liability coverage by choosing a safer vehicle
• Ensure you have the best deal by shopping around regularly

The last suggestion is remarkably important, as we discussed in this write-up. Prices in North Carolina vary considerably, so you should be ready to switch carriers if a lower price can be found. Staying with the same car insurance company is fine, but it’s not a good idea if that stubbornness costs you a small fortune year after year. Now is a great time to compare prices and find cheaper auto insurance for seniors.

Who has the cheapest insurance quotes for senior citizens?

Due to technology, there are many ways to find cheap car insurance in North Carolina, but the most popular methods are from an independent agent, an exclusive agency like Auto-Owners or State Farm, or direct from companies such as Progressive or Geico.

They all have the same end result, but they differ in how they give price quotes.

Independent insurance agents work with multiple companies and can do rate comparisons with each one. These types of agents are not locked into one company and can quote rates with many companies, which can give you a better chance of saving money. If your premiums go up, an independent agent can move your coverage and the insured can keep the same agent.

An exlusive, or captive, agency is only able to quote your policy with one insurance company, two of the more popular are an Auto-Owners or State Farm agent. Exclusive agents generally are unable to provide rate quotes from other companies, so if prices are high they cannot provide alternatives.

Consumers who buy car insurance direct skip local insurance agents and instead buy from a direct company like Esurance. This option may be preferred by consumers who have little risk and have some degree of understanding of the limitations of their policy.

So out of those three methods, which one works best to buy the cheapest auto insurance for seniors in North Carolina? The majority of car insurance shoppers assume that buying from a direct company yields the cheapest rates because there are no middleman commissions, but that is generally not the case. An argument could also be made that going through an independent agent results in the cheapest rates since they can provide multiple quotes, but again, it’s not a sure thing. In the right set of circumstances, the exclusive agents have really good rates that are well below what direct and independents offer.

Since car insurance rates vary so much, the one way to buy the cheapest coverage is to compare, compare, and compare some more. We highly recommend getting rate quotes from independent agents, exclusive agents, and direct companies to have enough rates to compare. We compiled a list of companies with some of the cheapest online rates that you can click here to view.