After a few driving violations, one of the big factors that are used to help calculate insurance cost is where you normally keep your vehicle in Charlotte. Regions with more people or even just more weather-related claims tend to pay more, whereas areas with less people or fewer weather incidents benefit from lower prices.
The following table lists the most expensive areas in North Carolina with multiple speeding tickets in which to purchase auto insurance. Charlotte makes the list at #3 costing $808 for car insurance, which is about $67 monthly.
|Rank||City||Premium Per Year|
|Compare Prices Now Go|
Premium amounts are approximated as the specific Charlotte residence address can raise or lower auto insurance rates greatly.
Deciphering which company quotes the best auto insurance rates with multiple speeding tickets will require a little more effort than just picking a company at random.
Every car insurance company has a proprietary method for establishing rates, so we’ll go over the auto insurance companies that tend to have lower prices in Charlotte.
Best Car Insurance Prices with License Points
|Rank||Company||Cost Per Year|
|4||NC Farm Bureau||$716|
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Progressive quotes some of the best car insurance rates in Charlotte at around $651 per year. This is $221 less than the average rate paid by North Carolina drivers of $872. Utica National, Liberty Mutual, NC Farm Bureau, and Penn National are also some of the cheapest Charlotte, NC car insurance companies.
In this example, if you currently have a policy with Utica National and switched to Progressive, you may realize yearly savings of in the neighborhood of $4. Policyholders with Liberty Mutual may save as much as $56 a year, and NC Farm Bureau policyholders might lower prices by $65 a year.
These estimates are averages for all insureds and vehicles and are not factoring in a vehicle location with multiple speeding tickets. So the auto insurance company that fits your age and vehicle best may not even be in the list above. That affirms the importance of why you need to compare as many prices as possible using your own specific driver and vehicle information.
Insurance rate increases from tickets or accidents
In a perfect world, the best way to earn good auto insurance rates after a few driving violations is to be a safe driver and not receive tickets or have accidents. The diagram below illustrates how violations and at-fault collisions increase premium costs for each different age category. The data assumes a married female driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied to the premium.
The data in the chart shows the average cost of auto insurance per year with no violations or accidents is $997. Add in two speeding tickets and the average cost rises to $1,414, an increase of $416 each year. Now add two accidents along with the two speeding tickets and the 12-month cost of auto insurance with multiple speeding tickets jumps again to an average of $2,965. That’s an increase of $1,967, or $164 per month, just for being a careless driver!
The example below shows how choosing a deductible can raise or lower yearly insurance costs when getting quotes for cheap insurance with multiple speeding tickets. The data is based on a married male driver, comp and collision included, and no discounts are applied to the premium.
In the chart above, a 30-year-old driver could lower rates by $256 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $388 by selecting a $1,000 deductible. Even younger insureds, like the age 20 example, have the ability to save as much as $788 or more by using a higher deductible.
When raising deductibles, it will now be necessary to have plenty of money set aside to pay the extra out-of-pocket expense that deters many people from opting for higher deductibles.
Are you paying too much for car insurance in Charlotte?
Charlotte, NC auto insurance rates are impacted by many factors which can significantly increase or decrease the price you have to pay for coverage. Turning one year older, buying another vehicle, or getting a driving violation can trigger price changes that can cause some rates to be more affordable than the competition. Also, car insurance companies change premium rates as often as every quarter in order to maintain liquidity for claims. Larger than normal claims can result in higher priced premiums, while better underwriting can produce cheaper Charlotte car insurance rates.
To illustrate this point, the chart below shows a variety of companies that have the cheapest car insurance in Charlotte, NC for a 40-year-old female driver with no prior claims, no tickets, and excellent credit. When comparing rates based on her current situation, Progressive might offer the most affordable car insurance rates in Charlotte at $786 per year. This is $86 less than the average price paid by North Carolina drivers of $872. Utica National, NC Farm Bureau, Liberty Mutual, and GEICO round out the rest of the best Charlotte, NC auto insurance companies.
Now let’s give the driver in the first chart a couple of claims, less-than-perfect credit, and a speeding citation. Due to the fact that every auto insurer has a different formula for setting prices, comparing quotes will most likely result in a new list of the cheapest companies as shown below.
Titan now has the cheapest insurance rate in Charlotte, NC with State Farm, Auto-Owners, National General, and Travelers also having competitive pricing. This example proves why Charlotte drivers need to compare many different companies to get the most budget-friendly insurance rates with multiple speeding tickets.
Insurance rates can be altered by many risk factors and can change substantially, so the most affordable company three years ago may now be one of the more expensive options.
Ideas for buying low-cost insurance with multiple speeding tickets
The list below details some of the recommended money-saving suggestions that can help North Carolina drivers quote lower-cost car insurance.
- Better credit scores save money
- Staying accident-free helps keep rates low
- Do not get traffic violations
- Higher comprehensive and collision coverage deductibles will save money
- Drop full coverage on older vehicles
- Safer vehicles cost less to insure
- Compare rates and switch if you can find a better deal
That last tip is extraordinarily valuable, as we hit on in the article above. Auto insurance prices fluctuate constantly, so you should be ready to switch carriers if a lower price can be found. Loyalty to a specific company is fine, but it’s not a good idea if that dedication is costing hundreds of dollars year after year. Take a few minutes and shop around to find cheaper insurance with multiple speeding tickets in Charlotte.
The Charlotte auto insurance agencies shown below are willing to answer your questions and help you decide which insurance coverage you need, since some drivers aren’t sure which coverage they need and prefer to have some advice when trying to find lower insurance rates with multiple speeding tickets. It can be difficult to find the best coverage on your own, and getting advice from a licensed agent can give satisfaction knowing your policy gives you adequate coverage when you need it most.
To find a Charlotte insurance agency in your neighborhood, click the button at the bottom of the list.
6600 A A A Dr – Charlotte, NC 28212 – (704) 569-3600
3611 Mt Holly-Huntersville Rd #205 – Charlotte, NC 28216 – (704) 395-1239
All Points Insurance Agencies
5618 Albemarle Rd # 200 – Charlotte, NC 28212 – (980) 221-9468
Allstate Insurance: Michael Randolph
1001 W W.T. Harris Blvd m – Charlotte, NC 28213 – (704) 549-1710
Pegram Insurance Agency
9010 Glenwater Dr #103 – Charlotte, NC 28262 – (704) 494-9495