Buying cheaper auto insurance for a Toyota Camry in North Carolina is dependent upon a large number of factors such as how many years you have been driving, your claims history, and your motor vehicle report. Drivers pay approximately $690 each year for Camry insurance, but that cost is based on a 50-year-old married female driver with full coverage and $100 deductibles.
The issue that arises when projecting rates is that it’s very likely that you aren’t exactly 50 years old or even a female, maybe you are single instead of married, or maybe you prefer higher deductibles. Having just a slight change in the factors used in pricing a policy can make a large difference in the cost of insurance for a Toyota Camry.
Everyone has unique insurance needs, and this illustrates why the best method for finding affordable rates for your Toyota is to do a thorough rate comparison. Price quotes are quick and you will receive rate quotes from some of the best insurers that offer coverage in North Carolina.
The trim level of your Camry will most likely have an effect on the cost of coverage, so the cost to insure a Camry LE model will be $120 cheaper than the cost to insure the more well-appointed Camry Hybrid version, as demonstrated by the prices below.
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Prices based on married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Premium costs do not factor in specific location information which can increase or decrease premium rates substantially.
Insuring your vehicle with the highest-rated insurance provider can be challenging considering how many choices you have in Charlotte. The company rank data shown next could help you decide which auto insurers to look at shopping prices with. These ratings include large nationwide companies, so companies with more of a regional focus are not factored into these rankings.
Top 10 Large Auto Insurance Providers in Charlotte Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- Titan Insurance
- AAA Insurance
Top 10 Large Auto Insurance Providers in Charlotte Ranked by Value
- American Family
- AAA Insurance
- Safeco Insurance
- The Hartford
- The General
- 21st Century
- Titan Insurance
How accidents and violations affect rates
In a perfect world, the ideal way to score the most affordable insurance rates in Charlotte for a Camry is to pay attention while driving and avoid traffic citations and accidents. The diagram below demonstrates how citations and at-fault collisions can impact annual premium costs for different age groups. The premiums are based on a married female driver, full coverage, $250 deductibles, and no other discounts are factored in.
The chart shows that the average cost of an auto insurance policy in North Carolina per year with no violations or accidents is $1,280. Receive two speeding tickets and the average cost increases to $1,823, an increase of $543 each year. Then add one accident along with the two speeding tickets and the 12-month cost of insurance for a Toyota Camry jumps again to an average of $2,375. That’s an increase of $1,095, or $91 per month, just for being a careless driver!
Types of discounts on Charlotte insurance
Insurance companies that offer coverage for a Toyota Camry may additionally offer rate discounts that could potentially reduce rates by as much as 35% or more if you are eligible for them. A few of the larger companies and a summarized list of policyholder discounts are included below.
- State Farm has savings for multiple policy, student away at school, anti-theft, Steer Clear safe driver discount, and driver’s education.
- Esurance may have discounts that include anti-theft, defensive driver, multi-car, renters, multi-policy, DriveSense, and claim free.
- Progressive includes discounts for multi-policy, good student, continuous coverage, multi-vehicle, and online quote discount.
- Liberty Mutual offers discounts for multi-policy, newly married, safety features, new vehicle discount, teen driver discount, and new graduate.
- Auto-Owners Insurance may include discounts for multi-policy, teen driver, air bags, paid in full, and mature driver.
- GEICO has discounts for driver training, air bags, defensive driver, good student, and military active duty.
The illustration below shows the difference between insurance rates with and without discounts applied. The data assumes a male driver, a clean driving record, no claims, North Carolina state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with homeowner, multiple vehicle, passive restraint, multiple policy, vehicle safety, and safe-driver discounts applied. With discounts applied, theaverage yearly reduction on insurance for a Toyota Camry is 28% or $411.
Why you should be shopping around
North Carolina insurance rates are calculated based on many things that may substantially change your annual premium. Simply getting older, getting married, or having a fender bender can trigger price changes that can make some companies cheaper in comparison to the competition. In addition, car insurance companies modify rates without warning as an adjustment for underwriting gains or losses. Heavy losses can cause more expensive premiums, while profitable underwriting may cause lower-cost Camry insurance rates.
The chart below shows which company has the cheapest car insurance in Charlotte, NC for a 30-year-old female driver with no prior claims, no tickets, and good credit. When comparing rates based on her current risk profile, Progressive may have the cheapest car insurance rates in Charlotte at $786 a year. This is $86 less than the average price paid by North Carolina drivers of $872. Utica National, NC Farm Bureau, GEICO, and Liberty Mutual also make the list of the most affordable Charlotte, NC auto insurance companies.
In the next rate comparison, we’ll give the driver from the first example an at-fault accident, less-than-perfect credit, and a few blemishes on her driving record. Since each auto insurer has a unique approach to set policy rates, comparing insurance quotes may result in a different list of affordable Charlotte car insurance companies as shown below.
Penn National now has the best car insurance rate in Charlotte with State Farm, Auto-Owners, Allied, and Erie also being competitive. This illustrates why consumers need to take the time to take the time to shop around to get the lowest insurance quotes for a Toyota Camry.
Prices are calculated by many factors and change substantially, so the cheapest company when you last compared rates may now be quite expensive.
How to find the cheapest auto insurance for a Toyota Camry
Here are some of the better money-saving solutions that can help you quote cheaper coverage.
- Buy safe vehicles
- Avoid accidents and claims
- Pay cheaper rates with good credit scores
- On older vehicles, drop full coverage
- Buy your auto and home insurance from the same company and save
- Compare rate quotes frequently
The final tip is certainly significant, as we discussed in this write-up. Insurance prices fluctuate considerably, so don’t be afraid to buy a policy from a new company if a lower price can be found. Having a favorite company is fine, but it’s not a good idea if that devotion results in you overpaying a small fortune year after year. It only takes a couple minutes to compare rates to find cheaper car insurance for a Toyota Camry in Charlotte.