If you live in Oxford, NC, and own a car, having car insurance is not just an option, it is a legal requirement. North Carolina law requires all drivers to have liability insurance, which covers damages and injuries you may cause to others in an accident. However, liability insurance does not protect you and your vehicle from damages caused by other drivers or non-collision events. That is why it is essential to consider additional types of car insurance coverage that can give you peace of mind and financial protection.
What Are the Types of Car Insurance Coverage in Oxford, NC?
Car insurance coverage can vary depending on the insurer and policy, but some of the most common types of coverage in Oxford, NC, include:
Liability Coverage
As mentioned earlier, liability coverage is mandatory in North Carolina and covers damages and injuries you may cause to others in an accident. Liability coverage is divided into two types:
- Bodily injury liability: covers medical expenses, lost wages, and other costs related to injuries you may cause to others.
- Property damage liability: covers damages to other people’s property, such as their car or fence.
Collision Coverage
Collision coverage is optional but recommended if you want your insurance to cover damages to your vehicle caused by an accident, regardless of who is at fault. Collision coverage can also cover damages from hitting an object or pothole.
Comprehensive Coverage
Comprehensive coverage is also optional and covers damages to your vehicle caused by non-collision events, such as theft, vandalism, fire, or natural disasters like floods or hurricanes.
Uninsured/Underinsured Motorist Coverage
Uninsured/underinsured motorist coverage is optional but can be crucial if you get into an accident with a driver who does not have insurance or does not have enough coverage to pay for your damages or injuries.
How Much Does Car Insurance Cost in Oxford, NC?
The cost of car insurance in Oxford, NC, can vary depending on several factors, such as:
- Your driving record and history
- The type and age of your vehicle
- Your age, gender, and marital status
- Your credit score and history
- The coverage and deductibles you choose
According to ValuePenguin, the average cost of car insurance in North Carolina is $407 per year for minimum liability coverage and $1,325 per year for full coverage. However, your actual cost may be higher or lower depending on your circumstances and the insurer you choose.
How to Find the Best Car Insurance in Oxford, NC?
When shopping for car insurance in Oxford, NC, it is essential to compare quotes from different insurers and consider their coverage options, discounts, and customer service.
Some of the top car insurance companies in North Carolina, according to J.D. Power’s 2021 U.S. Auto Insurance Study, include:
- State Farm
- GEICO
- Nationwide
- Progressive
- Erie Insurance
You can also check the North Carolina Department of Insurance’s website for a list of licensed insurers in the state and their complaint ratios.
Conclusion
Car insurance is a crucial investment for any driver in Oxford, NC, as it can protect you and your vehicle from financial losses caused by accidents or other events. By understanding the types of car insurance coverage available and comparing quotes from different insurers, you can find the right policy for your needs and budget.
