What Insurance is Cheapest for High Risk Drivers in Charlotte?

You have probably watched the ads from insurers like GEICO and Progressive claiming big savings. So you just need to pick one at random, right?

Unfortunately, it’s not that simple as there are a whole bunch of unknowns like if you are married or single, what physical damage coverage deductibles you want, the number of miles you drive each year, and whether you just need liability insurance, that all influence how much you pay for auto insurance. Car insurance is kind of a dry topic, but this article will explain the best ways to pay less and educate you enough to have a good beginning to your search for cheaper coverage.

Determining which company has the best auto insurance rates for high risk drivers will involve a little more sweat than just picking a company at random. Each auto insurer uses a different method to set policy rates, so let’s take a look at the overall cheapest auto insurance companies in Charlotte, NC.

Lowest Insurance Price Quotes for Risky Drivers

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Rankings for the cheapest car insurance companies in North Carolina
Rank Company Cost Per Year
1 Utica National $636
2 Progressive $658
3 Liberty Mutual $707
4 NC Farm Bureau $730
5 Penn National $747
6 GEICO $750
7 Titan $751
8 State Farm $756
9 Auto-Owners $852
10 National General $908
11 Allied $919
12 Travelers $927
13 Erie $931
14 Peerless $962
15 Nationwide $1,011
16 Unitrin $1,012
17 MetLife $1,018
18 Encompass $1,063
19 Allstate $1,064
20 Safeco $1,076
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Utica National normally has some of the lowest car insurance rates in Charlotte at around $636 each year. Progressive, Liberty Mutual, NC Farm Bureau, and Penn National also qualify as some of the most economical Charlotte, NC auto insurance companies.

As the example above demonstrates, if you are insured with Penn National and switched to Progressive, you might achieve an annual premium reduction of roughly $89. North Carolina drivers with GEICO might save as much as $92 a year, and Titan policyholders might reduce prices by as much as $93 a year.

To find cheaper insurance rates for your vehicle, click here or quote rates from the companies below.

It’s important to note that these premium estimates are averaged for all ages of drivers and types of vehicles and and are not calculated with a specific location for high risk drivers. So the car insurance company that can offer you the lowest price may not even be in the list above. That emphasizes why you need to compare rates from as many companies as possible using your own specific driver and vehicle information.

For high risk drivers, one of the more important factors that are used to help calculate the amount you pay for auto insurance is where your car is garaged. Areas with more people or higher crime rates tend to have more expensive car insurance rates, whereas areas with less people or fewer weather incidents have the enjoyment of a little cheaper coverage.

The following table shows the highest-priced areas in North Carolina for high risk drivers to purchase a policy in. Charlotte shows up at #3 with a yearly premium of $832 on average, which is around $69 each month.

How much is car insurance in Charlotte?
Rank City Average Per Year
1 Fayetteville $896
2 Jacksonville $891
3 Charlotte $832
4 Gastonia $787
5 Wilmington $781
6 Cary $772
7 Goldsboro $765
8 Durham $765
9 Greensboro $763
10 Huntersville $756
11 High Point $745
12 Raleigh $744
13 Rocky Mount $740
14 Wilson $732
15 Hickory $732
16 Indian Trail $731
17 Greenville $730
18 Chapel Hill $724
19 Apex $717
20 Concord $690
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Information shown are approximated as the garaging address in Charlotte can alter coverage prices noticeably.

Irresponsible driving raises your rates

In a perfect world, the ideal way to get the cheapest auto insurance prices in North Carolina for high risk drivers is to drive cautiously and have a clean driving record. The chart below shows how violations and accidents increase car insurance rates for different age groups. The price estimates are based on a married male driver, full physical damage coverage, $250 deductibles, and no discounts are applied.

The data in the chart shows the average cost of car insurance per year with no violations or accidents is $1,125. Add in two speeding tickets and the average cost increases to $1,549, an increase of $424 each year. Now get two accidents along with the two speeding tickets and the yearly cost of auto insurance for high risk drivers jumps again to an average of $3,113. That’s an increase of $1,987, or $166 per month, just for not driving safely!

Ending up with a good quality company can be difficult considering how many different companies insure vehicles in North Carolina. The ranking data in the lists below could help you decide which coverage providers you want to consider when comparing insurance rates for high risk drivers.

The rankings below are only made up of large nationwide companies, so companies with more of a regional focus are not taken into consideration for these rankings. If you’d like to compare prices and find cheaper insurance for high risk drivers, simply click here.

Top 10 Large Auto Insurers in Charlotte Ranked by Value

  1. Travelers
  2. American Family
  3. AAA Insurance
  4. Safeco Insurance
  5. Progressive
  6. The Hartford
  7. The General
  8. 21st Century
  9. Esurance
  10. Titan Insurance

Top 10 Large Auto Insurers in Charlotte Ranked by Customer Satisfaction

  1. USAA – 91%
  2. AAA Insurance – 90%
  3. Esurance – 90%
  4. Nationwide – 89%
  5. Travelers – 88%
  6. Progressive – 88%
  7. Safeco Insurance – 88%
  8. State Farm – 88%
  9. Allstate – 88%
  10. The Hartford – 87%

Here’s why price comparisons are so important

Charlotte auto insurance rates are determined by lots of factors which can substantially decrease or increase the policy premium. Simply turning a year older, moving to a different location, or getting a ticket for careless driving can produce rate changes resulting in some companies being cheaper than before. Additionally, car insurance companies modify rates as often as every quarter to adjust for unexpected claims or profits. Higher than normal claim frequency or severity can result in more expensive premiums, while profitable underwriting may cause cheaper Charlotte car insurance rates.

To illustrate this example, the data below shows which company has the cheapest car insurance in Charlotte, NC for a 30-year-old male driver with no prior claims, no tickets, and great credit. When quoting prices based on his current risk factors, Progressive might quote the best car insurance rates in Charlotte at $789 per year. This is $83 less than the average price paid by North Carolina drivers of $872. Utica National, Liberty Mutual, NC Farm Bureau, and Titan are the remaining top five cheapest Charlotte, NC auto insurance companies.

In this example, we will give the driver from the first rate comparison an at-fault accident, a little lower credit rating, and a few traffic violations. Due to the fact that each insurance company uses a different method for establishing rates, getting updated rate quotes may now show a different ranking of cheap Charlotte auto insurance companies as shown below.

GEICO now has the best price in Charlotte, NC with State Farm, Auto-Owners, National General, and Allied now rounding out the top five. This example demonstrates why consumers need to perform an extensive rate comparison to find the most affordable insurance rates for high risk drivers.

Prices can be altered by many different factors and change frequently, so the best option a year ago may now be quite expensive.