What Insurance is Cheapest for Teenagers in Charlotte?

For teen drivers, one of the more important considerations that are looked at to determine insurance cost is your address in Charlotte. More populated areas tend to pay more, whereas more rural areas tend to receive slightly lower rates.

The following table ranks the most expensive places in North Carolina for teenagers to buy car insurance in. Charlotte makes the list at #3 costing $832 for coverage, which is about $69 per month.

How much does car insurance cost in Charlotte, NC?
Rank City Premium Per Year
1 Fayetteville $905
2 Jacksonville $900
3 Charlotte $832
4 Durham $789
5 Gastonia $787
6 Greensboro $786
7 Raleigh $760
8 Greenville $760
9 Wilmington $758
10 Rocky Mount $748
11 Apex $747
12 Wilson $746
13 Indian Trail $745
14 Goldsboro $743
15 Huntersville $742
16 Cary $742
17 Hickory $740
18 High Point $723
19 Salisbury $705
20 Chapel Hill $703
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Annual rates are approximated as the garaging address in Charlotte can revise premium rates considerably.

The make and model of vehicle that needs insurance is a large factor that determines whether or not you find low-priced auto insurance for teenagers. Vehicles with economical engines, good crash test ratings, or a low likelihood of having liability claims will cost quite a bit less to insure than higher performance models. The table below outlines auto insurance rates for the most economical vehicles to buy coverage for.

Cheapest Vehicles to Insure in Charlotte, NC
Make and Model Estimated Cost for Full Coverage
Ford Escape Limited 2WD $4,563
Honda CR-V EX-L 4WD $4,572
Toyota Prius $4,894
Toyota Tacoma 4WD $5,075
Dodge Grand Caravan CV $5,084
Ford F-150 XL Crew Cab 4WD $5,120
Ford Edge SEL 2WD $5,319
Ford Focus SE 4-Dr Sedan $5,327
Honda Civic DX 4-Dr Sedan $5,319
Chevrolet Malibu Hybrid $5,361
Toyota RAV4 2WD $5,368
Volkswagen Jetta S 4-Dr Sedan $5,361
Toyota Camry LE $5,369
GMC Sierra SLE Regular Cab 2WD $5,361
Ford Explorer Eddie Bauer 4WD $5,407
Jeep Wrangler Unlimited Sahara 2WD 4-Dr $5,645
Chevrolet Impala LTZ $5,648
Toyota Corolla LE $5,656
Hyundai Elantra GLS 4-Dr Sedan $5,648
Chevrolet Equinox LTZ AWD $5,693
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Data based on single female 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 zip code location which can modify premiums substantially.

Based on these rates, vehicles like the Ford Escape, Honda CR-V, Toyota Prius, Toyota Tacoma, and Dodge Grand Caravan are most likely to be a few of the most affordable vehicles to insure for teen drivers. Prices will tend to be more expensive just because there is more liability exposure for teenagers, but overall those particular models will have the best rates compared to other types of vehicles.

Cost comparison with and without full coverage

Paying a lower price for auto insurance is the goal of most vehicle owners, and one good way to reduce the cost of insurance for teenagers is to buy only liability coverage. The information below shows the difference between insurance rates with full coverage compared to only the North Carolina minimum liability coverage. The data assumes no tickets, no at-fault accidents, $500 deductibles, marital status is single, and no policy discounts are applied.

Averaged for all ages 20 through 70, comp and collision coverage costs an additional $1,598 per year more than just buying liability only. That brings up the question if it’s a good idea to buy full coverage. There is no clear-cut rule of when to eliminate comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is 10% or more of replacement cost minus your deductible, then it may be the right time to buy liability only.

There are some cases where dropping full coverage is not recommended. If you still have a lienholder on your title, you have to maintain full coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should not consider dropping full coverage.

The example below demonstrates how choosing different deductibles can increase or decrease insurance costs when searching for cheap insurance for teenagers. The rate quotes are based on a single female driver, comprehensive and collision coverage, and no discounts are applied to the premium.

The chart above illustrates that a 50-year-old driver could lower rates by $196 a year by increasing from a $100 deductible to a $500 deductible, or save $298 by using a $1,000 deductible. Even younger drivers, such as the Age 20 example, could potentially save up to $502 every year by choosing a larger deductible amount. If you do decide to increase your deductibles, it’s a good idea to have enough funds in savings to cover the extra out-of-pocket expense, which is the main drawback of higher deductibles.

Choosing a high-quality auto insurance company can be difficult considering how many different companies insure vehicles in Charlotte. The company rank data listed below could help you decide which auto insurance companies you want to consider when comparing insurance rates for teenagers.

The rankings below are only comprised of the companies with a significant amount of written premium nationwide, so companies without a large exposure are not included in the list. To get rate quotes from these companies and more, follow this link.

Best Ten Auto Insurance Companies for Teenagers 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
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Data Source: Insure.com Best Car Insurance Companies

The Charlotte auto insurance agencies shown below are willing to provide answers to your questions and help you determine which auto insurance policy would work best for you, since some drivers aren’t sure which coverage they need and prefer to have a little guidance when shopping around for cheaper insurance for teen drivers. It can be complicated to find the best rates on your own, so a licensed agent can bring comfort knowing your policy gives you adequate protection in case of an accident or claim.

To locate an agency using an interactive map, click the button after the list.

View map of Charlotte, NC insurance agents