How much is car insurance in Charlotte?
Policy rates vary based on a number of factors used to calculate your final price. Some of those factors are:
- The safety rating of your vehicle – Vehicles that have high safety ratings tend to have lower insurance rates. Safe vehicles result in less severe injuries and lower injury rates means less money paid by your insurance company passed on to you as lower rates. If your vehicle scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may be receiving lower rates.
- Your credit score – Your credit rating is a big factor in determining premium rates. So if your credit score is not that good, you could potentially save money when buying a policy in Charlotte if you improve your credit rating. Consumers who have very high credit ratings tend to file fewer claims and have better driving records than drivers with poor credit scores.
- Your driving record – Drivers who have traffic violations or at-fault accidents on their records will pay higher rates. A single speeding ticket can raise rates by 15% or more and you will pay higher rates for up to three years after the original violation.
- Your personal situation – Things like marital status, your age, and whether you own a home impact car insurance rates in Charlotte. Married drivers and homeowners tend to pay lower rates, and younger drivers pay higher rates. Drivers under age 20 pay significantly higher rates, while drivers between 30 and 50 pay the lowest rates. Male drivers tend to pay slightly higher rates than females.
- Your deductibles and limits – Choosing low physical damage deductibles will save you money when you have a claim, but you will pay higher rates at every renewal for that luxury. Deductibles are the money you pay out-of-pocket before a claim is paid, so by assuming more responsibility by choosing a higher deductible will lower your policy rate.
The rate table below shows how much car insurance costs in Charlotte for some of the more popular vehicles you might see on the road. Rates are based on a 30-year old female driver with a clean driving record. Deductibles for comprehensive and collision coverage are $1,000 and liability coverage is set at the North Carolina minimum state mandated limits. Policy discounts include multi-policy, multi-vehicle, no claims, safe driver, and homeowner.
|Make, Model, and Trim||Annual||Semi-annual||Monthly|
|Chevrolet Colorado LT Extended Cab 4WD||$556||$278||$46|
|Chevrolet Equinox LT 2WD||$662||$331||$55|
|Chevrolet Impala LTZ||$698||$349||$58|
|Chevrolet Malibu LT||$676||$338||$56|
|Chevrolet Silverado LT Extended Cab 2WD||$704||$352||$59|
|Dodge Ram Crew Cab Sport 4WD||$768||$384||$64|
|Ford Escape Limited 4WD||$608||$304||$51|
|Ford F-150 Lariat Crew Cab Harley 2WD||$712||$356||$59|
|Ford Focus SES 4-Dr Sedan||$682||$341||$57|
|Ford Fusion Sport 4-Dr Sedan||$712||$356||$59|
|Honda Accord EX-L 4-Dr Sedan||$608||$304||$51|
|Honda CR-V EX 2WD||$556||$278||$46|
|Honda Civic SI 4-Dr Sedan||$734||$367||$61|
|Jeep Wrangler Sahara 4WD 2-Dr||$626||$313||$52|
|Kia Optima SX||$754||$377||$63|
|Nissan Altima Hybrid 4-Dr Sedan||$712||$356||$59|
|Toyota Camry SE||$698||$349||$58|
|Toyota Corolla LE||$698||$349||$58|
|Get Rate Quotes for Your Vehicle Go|
Cheapest, Most Expensive, and Safest Vehicles for Car Insurance in Charlotte
Car insurance rates vary considerably based on the type of vehicle you drive. Safer cars cost less to insure because there is less likelihood of occupant injury. High performance vehicles cost more to repair, and also have a tendency towards higher liability claims so rates are higher for those vehicles. The cheapest car insurance in Charlotte can be found on vehicles with a good safety rating, a low likelihood of liability claims, and lower-performance engines.
|Top 10 cheapest vehicles to insure in Charlotte, NC|
|Mazda MX-5 Miata|
|Chrysler PT Cruiser|
|Top 10 most expensive vehicles to insure in Charlotte, NC|
|Mercedes-Benz S65 AMG|
|Mercedes-Benz CL63 AMG|
|Mercedes-Benz S63 AMG|
|Top 10 safest vehicles to insure in Charlotte, NC|
|Toyota FJ Cruiser|
|Jeep Grand Cherokee|
|GMC Sierra 2500HD|
|Chevrolet Silverado 2500HD|
Best Car Insurance in Charlotte
There are a lot of auto insurance companies to choose from in North Carolina, and there are three categories of companies to choose from.
- The first type of company sells through exclusive or ‘captive’ agents. These agents work with only one company and cannot provide rate quotes from other companies. Agents include State Farm, Allstate, and Farmers Insurance.
- The second type of agency you will find in Charlotte is called independent. These agents are not employed by one company, but rather contract through many companies and can give multiple rate quotes for your coverage.
- The third type of auto insurance company in Charlotte are the direct writers like GEICO and Progressive. These companies may have agent offices in Charlotte, but the primary avenue for selling coverage is direct via the internet or by phone. Progressive does also contract through independent agents, but the price is not always the same as if you buy online.
The best car insurance company in Charlotte depends entirely on your risk profile, the vehicles you drive, and your personal situation like your age, marital status, and financial profile. Your neighbor may have a great rate from State Farm, but you may find that you can get an even better rate from Allstate or a small mutual insurance company. The reason for this is that there are so many rating factors that go into calculating car insurance rates, you cannot assume that you will get the same low rate as your neighbor.
Some auto insurance companies give their best rates to older drivers with excellent credit and a clean driving record, while another company may give their best rate to a slightly younger driver who may have a blemish on their credit profile. The only way to know which company is best for you is to compare rates regularly. Companies adjust rates frequently and even if you had the lowest price last year, it may no longer be the best deal.
A recent study showed that drivers who compared rates annually saved over $800 a year as compared to drivers who never shopped around. This is significant savings and comparing free Charlotte car insurance quotes is fast and easy. So start comparing rates now and you might be surprised at how much you can save when you find YOUR best car insurance in Charlotte.