What Car Insurance is Cheapest for College Graduates in Charlotte?

The make and model of vehicle you are seeking coverage for is probably the largest consideration when shopping around for low-cost insurance for college graduates. Vehicles with limited top-end speed, a plethora of safety features, or a low likelihood of liability claims will cost much less to insure than higher performance models.

The data below features auto insurance rates for a selection of the cheaper vehicles to insure in North Carolina.

Cheapest Vehicles to Insure in Charlotte, NC
Vehicle Make and Model Estimated Cost for Full Coverage
Toyota Prius $1,315
Honda CR-V EX 4WD $1,328
Ford Escape Limited 4WD $1,448
Dodge Grand Caravan SE $1,453
Chevrolet Silverado LS Regular Cab 4WD $1,473
Ford Edge Limited AWD $1,480
GMC Sierra SLT Extended Cab 4WD $1,507
Chevrolet Impala LS $1,513
Nissan Altima Hybrid 4-Dr Sedan $1,507
Chevrolet Malibu Hybrid $1,536
Toyota RAV4 Limited 4WD $1,543
Ford Focus S 4-Dr Sedan $1,546
Ford Explorer Limited 2WD $1,566
Toyota Tacoma Double Cab 4WD $1,576
Hyundai Sonata SE 4-Dr Sedan $1,578
Get a Custom Quote Go

Data variables include single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Rate quotes do not factor in specific zip code location which can influence prices noticeably.

Looking at the numbers, you can expect vehicles like the Toyota Prius, Honda CR-V, and Ford Escape are most likely going to be some of the more affordable vehicles to insure for college grads.

For college grads, one of the largest criteria that help determine insurance cost is where your car is garaged. Areas with a lot of weather claims or more people tend to have higher auto insurance costs, whereas areas with less congestion profit from lower rates.

The table below ranks the highest-priced areas in North Carolina for college graduates to purchase auto insurance in. Charlotte shows up at #3 with the yearly price of $832 for the average policy, which is about $69 monthly.

How much does car insurance cost in Charlotte, NC?
Rank City Annual Rate
1 Fayetteville $905
2 Jacksonville $900
3 Charlotte $832
4 Gastonia $803
5 Greensboro $779
6 Durham $773
7 Cary $765
8 Wilmington $758
9 Wilson $754
10 Apex $747
11 Huntersville $742
12 Raleigh $737
13 Goldsboro $735
14 Greenville $730
15 Rocky Mount $726
16 Chapel Hill $724
17 Indian Trail $723
18 High Point $723
19 Salisbury $712
20 Hickory $711
21 Concord $697
22 Burlington $692
23 Kannapolis $690
24 Winston Salem $688
25 Asheville $687
Find the Best Rates Go

Price information shown is approximated as the garaging address in Charlotte can modify premium rates noticeably.

Get discounts on Charlotte insurance

Cheaper Charlotte, NC insurance for college gradsInsurance providers that provide coverage for college graduates could also offer premium discounts that could reduce prices by as much as 40% or more if you qualify for them. Larger insurance companies and their offered discounts are outlined below.

The illustration below shows the comparison of premium costs with and without discounts applied to the premium. The premiums are based on a female driver, no claims or violations, North Carolina state minimum liability limits, full physical damage coverage, and $250 deductibles.

The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with multiple vehicle, anti-theft, safe-driver, marriage, multiple policy, and defensive driving course discounts applied. When discounts are factored in, the average amount saved each year on insurance for college graduates is 27% or $343.

How violations and accidents impact rates

In a perfect world, the ideal way to snag good insurance rates in Charlotte for college grads is to be a cautious driver and avoid at-fault accidents and violations. The information below illustrates how traffic citations and accidents can influence insurance costs for different age groups. The data assumes a married female driver, comprehensive and collision coverage, $500 deductibles, and no discounts are factored in.

In the chart above, the average cost of an auto insurance policy in Charlotte per year with a clean driving record and no accidents is $997. Get written up for two speeding tickets and the average cost jumps to $1,414, an increase of $416 each year. Now include one accident along with the two speeding tickets and the annual cost of insurance for college graduates goes up to an average of $1,831. That’s an increase of $833, or $69 per month, just for being a less-than-perfect driver!

Selecting the top insurance company is difficult considering how many companies sell coverage in North Carolina. The ranking information shown next may help you analyze which companies you want to consider when trying find the best insurance for college graduates.

The rankings below only include large, nationwide insurance companies, so companies that only write business in North Carolina or surrounding areas are not taken into consideration for the list. To view rates from the insurers below and more, click here.

Top 15 Insurance Companies for College Graduates in North Carolina
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
Esurance 86 90 94 90% A+ 89.5
The General 86 93 89 84% A- 88.2
GEICO 79 89 95 87% A++ 87.8
Titan Insurance 86 82 92 86% A+ 86.5
21st Century 86 82 90 84% A 86.4
Compare Rates Now Go

Data Source: Insure.com Best Car Insurance Companies

The agents below are willing to help you determine which coverages and limits you need, as some drivers aren’t sure which coverage they need and prefer to have professional advice when shopping for the best coverage for college grads. It’s not always simple to find the cheapest rates, and agents can provide peace of mind knowing your policy gives you sufficient coverage for your assets.

To locate an agency nearest to you, click the link after the list or click here to compare prices now.

View more Charlotte, NC insurance agencies

How to find budget-friendly auto insurance for college graduates

The list below shows some of the recommended penny-pinching solutions that can help you buy lower-cost auto insurance.

The last tip in the list is certainly significant, as we noted in this piece. Rates change frequently, so don’t be hesitant to switch to a new company if a better rate can be found.

Having a favorite company is great, but it’s not a good idea if that inflexibility results in costing you a considerable chunk of change every month. If you have a few minutes, now is a great time to compare rates to find cheaper insurance for college graduates in Charlotte.