One of the more important factors that help determine the price you pay for insurance is your address in Charlotte. More densely populated places tend to have more expensive car insurance rates, whereas areas with lower crime rates and fewer weather claims have the enjoyment of a little cheaper coverage.
The following table lists the most expensive areas in North Carolina for teenage males to purchase a policy in. Charlotte comes in at #3 with a yearly cost of $808 for the average policyholder, which is approximately $67 each month.
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Annual rates are comparative as the specific area where the vehicle is garaged can decrease or increase coverage prices greatly.
The type of vehicle you are buying coverage for is one of the largest factors when comparing quotes for the best cheap auto insurance for teenage males. Vehicles with higher performance, poor safety ratings, or an increased likelihood of liability claims will cost significantly more to insure than more modest models.
The data below shows auto insurance costs for some of the most cost-effective vehicles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 2WD||$4,516|
|Ford Escape Limited 2WD||$4,525|
|Honda Accord EX-L 4-Dr Sedan||$4,808|
|Dodge Grand Caravan SE||$5,012|
|Ford Explorer XLT 4WD||$5,020|
|Toyota Tacoma 2WD||$5,259|
|Honda Odyssey EX W/Rear Entertainment||$5,269|
|Chevrolet Impala LS||$5,259|
|Toyota RAV4 Sport 2WD||$5,304|
|Nissan Altima 2.5 4-Dr Sedan||$5,312|
|Jeep Grand Cherokee Laredo 2WD||$5,304|
|Ford F-150 XLT Crew Cab 4WD||$5,351|
|Chevrolet Malibu LT||$5,361|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$5,546|
|Hyundai Elantra GLS 4-Dr Sedan||$5,595|
|Ford Edge Sport 2WD||$5,605|
|Toyota Corolla LE||$5,595|
|Chevrolet Equinox LTZ 2WD||$5,643|
|Ford Fusion SE 4-Dr Sedan||$5,649|
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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 claim-free, and safe-driver. Premium amounts do not factor in garaging location in Charlotte, NC which can alter rates considerably.
Based on these rates, we can presume that makes and models like the Honda CR-V, Ford Escape, Honda Accord, and Toyota Prius will definitely be a few of the less-costly vehicles to insure for teen boys. The price for an auto insurance policy will be more costly because there is more liability exposure for teenage males, but in general those particular models will have the least expensive rates possible.
Comparing rates for low-cost auto insurance is challenging, and deciding which insurers offer the lowest-priced auto insurance rates for teenage males requires a little more work. Each auto insurer has their own unique process for determining prices, so let’s take a look at the lowest cost auto insurance companies in Charlotte.
It’s important that readers know that Charlotte auto insurance rates are based on many factors that may substantially change the price you pay. Simply improving your credit score, filing a claim, or getting a DUI may generate price changes that can cause some rates to be cheaper than competitors.
Best Car Insurance Prices for Teens
|Rank||Company||Cost Per Year|
|5||NC Farm Bureau||$737|
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Utica National may have some of the cheapest car insurance rates in Charlotte at around $636 annually. Progressive, Liberty Mutual, Penn National, and NC Farm Bureau are also some of the cheapest Charlotte, NC auto insurance companies.
In the above example, if you have coverage with Progressive and switched to Utica National, you could realize yearly savings of upwards of $15. North Carolina drivers with Liberty Mutual may save as much as $71 a year, and Penn National insureds might lower prices by up to $89 a year.
It’s important to note that these policy prices are averaged across all drivers and vehicles and do not factor in a vehicle location for teenage males. So the car insurance company that has the cheapest rates for you may not even be in the list above. That affirms the importance of why you need to compare as many prices as possible using your own driver data and vehicle information.
The illustration below demonstrates how deductibles can impact insurance costs when trying to find cheap insurance for teenage males. Data assumes a married male driver, full physical damage coverage, and no discounts are factored in.
A 30-year-old driver could pocket $190 a year by switching from a $100 deductible up to a $500 deductible, or save $290 by choosing a $1,000 deductible. Even younger insureds, such as the Age 20 example, can cut $578 each year by using higher deductibles when buying full coverage. If you make the decision to raise deductibles, it is important to have additional savings on hand to cover the extra out-of-pocket expense that deters many people from opting for higher deductibles.
Finding the best insurer can be rather challenging considering how many companies there are to choose from in North Carolina. The company ratings in the next section could help you pick which insurers to look at shopping prices with. The rankings below are only comprised of companies with a national presence, so companies that focus mainly on North Carolina business are not taken into consideration for this list.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Impact of speeding/accidents on auto insurance rates
One of the best ways to score affordable auto insurance premiums for teen boys is to drive attentively and avoid accidents and traffic citations. The information below demonstrates how citations and at-fault accidents increase insurance rates for different categories of driver ages. The information is based on a married female driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.
In the previous chart, the average cost of car insurance per year with no violations or accidents is $1,348. Get two speeding tickets and the average cost swells to $1,916, an increase of $569 each year. Now throw in one accident along with the two speeding tickets and the 12-month cost of auto insurance for teenage males goes up to an average of $2,497. That’s an increase of $1,149, or $96 per month, just for being a little careless behind the wheel!