What Car Insurance is Cheapest for a Honda CR-V in Charlotte?

Finding the best cheap insurance for a Honda CR-V in North Carolina doesn’t take a lot of effort, but it relies on a complex formula that considers things such as your birth date, your claims history, and driving violations and tickets. Drivers will pay around $795 annually for CR-V insurance, but that price is an approximation based upon a 40-year-old single female driver with both comprehensive and collision coverage and $100 deductibles.

Most likely you’re not a 40-year-old female, possibly married instead of single, and you need different coverage limits than the sample rates. Even a minor change in the rating criteria used to formulate rates can result in a big discrepancy in the cost of a policy.

This illustrates why the only way to find the cheapest rates for your Honda is to compare as many rates as you can. To cut your rates now, get a free quote and you can get prices from some of the best insurers in North Carolina.

Insure Your Honda for Less

Vehicle trim level will influence the annual cost of coverage, so the price you will pay to insure a CR-V LX 2WD model will cost $26 less than the price to insure the high end CR-V EX-L 4WD version, as shown below.

Honda CR-V Insurance Rates in Charlotte, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $180 $360 $276 $16 $82 $914 $76
CR-V EX 2WD $180 $360 $276 $16 $82 $914 $76
CR-V LX 4WD $180 $360 $276 $16 $82 $914 $76
CR-V EX 4WD $206 $360 $276 $16 $82 $940 $78
CR-V EX-L 2WD $206 $360 $276 $16 $82 $940 $78
CR-V EX-L 4WD $206 $360 $276 $16 $82 $940 $78
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Data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Table data does not factor in zip code location which can revise premium rates significantly.

Trying to buy low-cost insurance is not most people’s favorite thing to do, and determining which companies quote the most affordable insurance rates for a Honda CR-V will require even more shopping around. Each auto insurance company has their own unique process for filing rates in each state, so first let’s look at the rankings for the most competitive insurance companies in Charlotte.

Keep in mind that Charlotte insurance rates are impacted by many factors that will increase or decrease the policy price. Events like turning one year older, having a teen driver, or having an accident can trigger rate changes that may make certain companies cheaper than competitors.

Best Car Insurance Prices for Your Honda

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Rankings for the cheapest North Carolina auto insurance companies
Rank Company Cost Per Year
1 Progressive $639
2 Utica National $655
3 Liberty Mutual $707
4 Penn National $717
5 NC Farm Bureau $737
6 GEICO $742
7 State Farm $756
8 Titan $759
9 Auto-Owners $878
10 National General $881
11 Erie $904
12 Travelers $909
13 Allied $919
14 Peerless $992
15 MetLife $1,007
16 Nationwide $1,031
17 Unitrin $1,032
18 Safeco $1,066
19 Encompass $1,073
20 Allstate $1,086
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Progressive quotes some of the best car insurance rates in Charlotte at around $639 a year. This is $233 less than the average rate paid by North Carolina drivers of $872. Utica National, Liberty Mutual, Penn National, and NC Farm Bureau would also be considered some of the more affordable Charlotte, NC insurance companies.

As the rates illustrate above, if you currently have coverage with Utica National and switched to Progressive, you could see a yearly savings of about $16. Insureds with Liberty Mutual might save as much as $68 a year, and Penn National policyholders might cut rates by $78 a year.

To see if you’re overpaying, click here to start your custom quote or click several companies below for low rates.

It’s important to note that these premium estimates are averages for all insureds and vehicles and do not take into consideration an exact location for a Honda CR-V. So the car insurance company that is most affordable for your situation may not even be in the list above. That is why you need to get auto insurance quotes using your own specific driver and vehicle information.

Full coverage rates compared to liability only

Saving on insurance should be important to most vehicle owners, and one good way to save on the cost of insurance for a Honda CR-V is to only buy liability insurance. The chart below visualizes the comparison of annual premium costs with full physical damage coverage compared to only buying the minimum liability limits required in North Carolina. The price estimates are based on no tickets, no at-fault accidents, $100 deductibles, drivers are single, and no other discounts are factored in.

Averaged out for all age groups, physical damage coverage costs $1,434 per year over and above liability only. At some point, almost every driver questions if full coverage is worth the money. There is no clear-cut formula to stop buying full coverage on your policy, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is about 10% or more of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.

There are a few situations where buying only liability insurance is not in your best interest. If you still have a loan on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should keep full coverage in place.

The illustration below highlights how deductible selection can affect insurance rates when getting quotes for cheap insurance for a Honda CR-V. The rates are based on a single female driver, full coverage, and no additional discounts are factored in.

The chart above illustrates that a 40-year-old driver could save $196 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $298 by choosing a $1,000 deductible. Younger drivers, such as the Age 20 example, could potentially save as much as $502 or more by choosing a larger deductible amount. When choosing a higher deductible, it will be necessary to have enough savings set aside to cover the extra out-of-pocket expense. That is the one drawback of using higher deductibles.

Why it’s important to shop around

North Carolina insurance rates are impacted by many factors that may substantially change the price you pay. Simply having a birthday, buying higher coverage limits, or getting a ticket for running a stop sign can trigger price changes that can cause some rates to be much cheaper than others. And not only may your rating factors change, but insurance companies change rates as needed to help ensure profitability. Heavier than normal losses may result in increased rates, while less frequent claims can cause cheaper CR-V insurance rates.

To help illustrate this point, the chart below shows rates for the cheapest car insurance in Charlotte, NC for a 40-year-old female driver with no violations or accidents, and a high credit rating. If we look at prices based on her current situation, Progressive might offer the lowest car insurance rates in Charlotte at $766 per year. This is $106 less than the average premium paid by North Carolina drivers of $872. Utica National, Liberty Mutual, Titan, and NC Farm Bureau are also included in the most affordable Charlotte, NC auto insurance companies.

The chart below compares rates after we give the driver from the first example a chargeable accident, a lower credit score, and a few traffic violations. Because every insurance company has a unique formula to determining premium rates, analyzing rate quotes may result in a substantially altered list of companies as shown below.

GEICO now has the lowest car insurance rate in Charlotte, NC with State Farm, Auto-Owners, National General, and Allied also having competitive pricing. This example illustrates why it is so important to shop around with many companies when trying to find affordable auto insurance quotes for a Honda CR-V. Car insurance prices consist of many factors and change frequently, so the lowest-price company a year ago may now be an over-priced policy.

How to find budget-friendly car insurance for a Honda CR-V

The list below summarizes some of the recommended thrifty ideas that can help North Carolina drivers locate more affordable coverage.

The final tip is highly valuable, as was stressed in this write-up. Auto insurance rates in Charlotte change a lot, so don’t be unwilling to buy from a different company if a lower price can be found.

We understand brand loyalty, but it isn’t a good idea if that inflexibility results in costing you a wad of cash every year. Take a few minutes and shop around and find cheaper car insurance for a Honda CR-V.