It’s hard to avoid all the catchy advertisements from companies like Nationwide and Farmers guaranteeing enormous savings, so drivers just need to pick one randomly, right?
It’s not that easy, however, as there are many unknown factors such as the annual mileage you drive, what level of deductibles you need, and if you are married or single. Car insurance is kind of a dry topic, but this article will explain the things that influence insurance rates and hopefully give you enough understanding to have a good start in finding the cheapest car insurance in Charlotte.
Establishing which companies have the most affordable insurance rates for 17 year olds takes a little more work in order to find the best price. Every auto insurer uses a little different formula to set premium rates, so let’s examine the insurance companies that tend to be cheaper in Charlotte.
Find Cheaper Car Insurance for Teens
|Rank||Company||Cost Per Year|
|4||NC Farm Bureau||$709|
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Progressive may have some of the most affordable car insurance rates in Charlotte at around $639 per year. Utica National, Liberty Mutual, NC Farm Bureau, and Penn National also qualify as some of the most economical Charlotte, NC car insurance companies.
As depicted above, if you are a customer of Liberty Mutual and switched to Progressive, you might achieve a yearly savings of upwards of $68. Policyholders with NC Farm Bureau might save as much as $70 a year, and Penn National insureds might lower prices by $78 a year.
Remember that these policy rates are averages for all drivers and vehicles and do not take into consideration a specific zip code for 17 year olds. So the company that can offer you the best price may not even be in the top 20 companies shown above. That is why you need to quote rates from many companies using your own personal information and vehicle type.
The car, truck, or SUV that needs insurance is a large consideration when quoting the best cheap coverage for 17 year olds. Vehicles with reasonable performance levels, modern passenger safety features, or low incidents of liability claims will cost much less to insure than adrenaline junky models.
The list below ranks insurance rates for some of the cheapest automobiles to buy coverage for.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$4,745|
|Honda CR-V EX 4WD||$4,794|
|Ford F-150 XL Regular Cab 2WD||$4,963|
|Ford Explorer XLT 4WD||$5,322|
|Toyota Tacoma 4WD||$5,329|
|Chevrolet Impala LS||$5,584|
|Ford Edge SEL AWD||$5,589|
|Volkswagen Jetta LE 4-Dr Sedan||$5,633|
|Dodge Grand Caravan Hero||$5,641|
|Toyota RAV4 Limited 4WD||$5,633|
|Nissan Altima 2.5 4-Dr Sedan||$5,641|
|Ford Fusion S 4-Dr Sedan||$5,633|
|Chevrolet Equinox LS 2WD||$5,638|
|Chevrolet Malibu LT||$5,682|
|Honda Civic LX-S 4-Dr Sedan||$5,894|
|Hyundai Elantra Blue 4-Dr Sedan||$5,903|
|Honda Odyssey EX-L W/Navigation||$5,943|
|Toyota Camry SE||$5,951|
|GMC Sierra 2500HD SLE Regular Cab 4WD||$5,992|
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Table data represents single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, and claim-free. Table data does not factor in Charlotte, NC location which can influence coverage rates considerably.
Based upon the table data, we can infer that makes and models like the Ford Escape, Honda CR-V, Ford F-150, and Toyota Prius are most likely to be some of the cheapest vehicles to insure for teen drivers. The price of auto insurance will trend higher because there is more inherent risk for 17 year olds, but in general those vehicles will have the lowest insurance rates that you’ll find.
The information below illustrates how choosing a deductible can influence annual premium costs when quoting cheap insurance for 17 year olds. The information is based on a single female driver, comprehensive and collision coverage, and no discounts are factored in.
In the chart above, a 50-year-old driver could save $196 a year by changing from a $100 deductible to a $500 deductible, or save $298 by changing to a $1,000 deductible. Even younger drivers, like the age 20 example, could roll back prices $502 annually by selecting a higher deductible.
If you make the decision to raise deductibles, it is essential to have emergency funds available to offset the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
Driving violations and accidents
The ideal way to obtain the cheapest insurance rates in Charlotte for teen drivers is to drive attentively and not receive tickets or have accidents. The information below highlights how traffic violations and at-fault fender-benders can influence premium costs for different age groups. The premium estimates are based on a married male driver, full coverage, $500 deductibles, and no discounts are taken into consideration.
In the prior example, the average cost of auto insurance in North Carolina per year with no accidents or violations is $1,339. Get written up for two speeding tickets and the average cost surges to $1,841, an increase of $503 each year. Next add one accident along with the two speeding tickets and the yearly cost of insurance for 17 year olds increases to an average of $2,357. That’s an increase of $1,018, or $85 per month, just for not driving responsibly!
Buying coverage from the top car insurance company is hard considering how many companies sell insurance in Charlotte. The company rank data below may help you decide which auto insurers you want to consider when trying to find cheaper insurance for 17 year olds.
These ratings only include the largest auto insurers in America, so smaller companies that only insure vehicles in North Carolina are not taken into consideration for this list. To get rate quotes from these and other top-rated companies, simply click here.
Top 10 Large Auto Insurers Overall in Charlotte
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
- American Family
Ideas for buying budget-friendly auto insurance for 17 year olds
Below you’ll find some of the recommended penny-pinching suggestions that can help drivers locate low-cost coverage.
- Claim-free policyholders usually earn a discount
- Drive attentively and avoid accidents
- Older vehicles may not need full coverage
- Drive safely
- Increase your comprehensive and collision deductibles
- Shop around for cheaper rates regularly
The last item on the list is incredibly crucial, as was noted in the prior information. Prices charged by companies can change considerably based on profitability, so drivers shouldn’t be resistant to buy from a new company if a more affordable price is available.
Having a favorite company is fine, but it’s not recommended if that loyalty ends up costing hundreds of dollars a year. Spend a few minutes and compare prices and find cheaper insurance for 17 year olds in Charlotte.
The agents listed below can aid you in deciding which auto insurance policy would work best for you, as some drivers aren’t sure which coverage they need and prefer to get some professional input when trying to find the best insurance rates for 17 year olds. It’s not always easy to find the best rates on your own, so getting advice from a licensed agent can provide comfort knowing you have adequate asset protection.
To locate a Charlotte auto insurance agent near you, click the button at the bottom.
- Allstate Insurance: John Rose
6853 Fairview Rd c – Charlotte, NC 28210 – (704) 366-7779
- The Jordan Insurance Agency,LLC
13860 Ballantyne Corporate Pl #120 – Charlotte, NC 28277 – (704) 926-7565
- Biggs Insurance Group
13850 Ballantyne Corporate Pl #500 – Charlotte, NC 28277 – (704) 369-5270
- Southeast Insurance Agency
212 S Tryon St #1605 – Charlotte, NC 28281 – (704) 885-8006
- All Points Insurance Agencies
5618 Albemarle Rd # 200 – Charlotte, NC 28212 – (980) 221-9468