One of the more important things that determine the amount you pay each year for auto insurance is your zip code. Cities with larger populations will most likely have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims tend to receive slightly lower rates.
The information below lists the highest-priced places in North Carolina for 20 year old women to buy car insurance in. Charlotte makes the list at #3 with a yearly premium of $832 for car insurance, which is about $69 monthly.
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Rate information is comparative as zip code location can influence auto insurance rates considerably.
The car, truck, or SUV to be insured is a large factor that determines whether or not you find the best cheap coverage for 20 year old women. Vehicles with average performance, advanced safety features, or a low likelihood of liability claims will cost less to insure than high performance models. The information below presents coverage rates for a selection of the most economical vehicles to buy coverage for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$2,555|
|Honda CR-V EX 4WD||$2,595|
|Ford F-150 XLT Regular Cab 2WD||$2,829|
|Dodge Grand Caravan CV||$2,868|
|Chevrolet Impala LS||$2,993|
|Volkswagen Jetta LE 4-Dr Sedan||$3,032|
|Toyota RAV4 2WD||$3,038|
|Chevrolet Equinox LT AWD||$3,032|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$3,069|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$3,075|
|Ford Explorer Limited AWD||$3,069|
|Chevrolet Malibu LT||$3,077|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$3,157|
|Toyota Corolla XLE||$3,196|
|Hyundai Elantra SE 4-Dr Sedan||$3,206|
|Toyota Camry SE||$3,196|
|Ford Edge Sport 2WD||$3,203|
|GMC Sierra SLE Crew Cab 2WD||$3,233|
|Nissan Altima 3.5 SR 4-Dr Sedan||$3,242|
|Honda Civic Hybrid 4-Dr Sedan||$3,233|
|Jeep Grand Cherokee Limited 4WD||$3,240|
|Honda Odyssey Touring||$3,233|
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Data based on single female driver age 20, 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 specific garaging location which can alter coverage rates substantially.
Based upon these rates, you can infer that vehicles like the Ford Escape, Honda CR-V, Toyota Prius, and Ford F-150 are a few of the cheapest vehicles to insure for young women. Prices will tend to be higher just because there is a higher risk for 20 year old women, but in general those specific models will tend to have the lowest insurance prices that you’ll find.
Rate comparison of full coverage and liability-only
Reducing premiums for car insurance should be important to the majority of people, and one of the easiest ways to lower the cost of insurance for 20 year old women is to not insure for full coverage. The chart below illustrates the comparison of premium costs with full physical damage coverage compared to only buying liability only. The data assumes no accidents or driving violations, $500 deductibles, single marital status, and no additional discounts are factored in.
If averaged out across all ages, physical damage coverage costs an extra $1,181 per year over liability only. That proposes the question if it’s worth it to buy full coverage. There isn’t a steadfast formula to drop physical damage insurance, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than 10% of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.
Types of discounts on Charlotte auto insurance rates
Insurance companies that provide coverage for 20 year old women may also offer policy discounts that may potentially lower prices by as much as 35% or more if you are eligible to receive them. A few popular companies and a summarized list of policyholder discounts can be found below.
- GEICO has savings for daytime running lights, federal employee, air bags, multi-policy, driver training, membership and employees, and emergency military deployment.
- MetLife offers discounts including good student, accident-free, defensive driver, multi-policy, and claim-free.
- Progressive may include discounts for online quote discount, online signing, good student, continuous coverage, multi-policy, and homeowner.
- Travelers may have discounts that include multi-policy, multi-car, home ownership, early quote, save driver, and good student.
- SAFECO offers premium reductions for bundle discounts, teen safe driver, anti-lock brakes, multi-car, and homeowner.
- AAA discounts include AAA membership discount, multi-policy, education and occupation, good student, anti-theft, and pay-in-full.
The chart below visualizes the comparison of auto insurance costs with and without discounts applied to the premium. The premium estimates are based on a male driver, a clean driving record, no claims, North Carolina state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with good student, paperless filing, paid-in-full, passive restraint, vehicle safety, and anti-theft discounts applied. When taking advantage of discounts, theaverage yearly reduction on car insurance for 20 year old women is 18% or $261.
Impact of citations and accidents on insurance rates
The common sense way to score the most affordable car insurance rates for young women is to drive safe and avoid at-fault accidents and violations. The diagram below illustrates how traffic citations and at-fault accidents impact auto insurance rates for different categories of driver ages. The information is based on a single male driver, full physical damage coverage, $250 deductibles, and no discounts are taken into consideration.
The data above shows the average cost of car insurance in North Carolina per year with a clean driving record and no accidents is $1,755. Get two speeding tickets and the average cost rises to $2,323, an increase of $569 each year. Then add two accidents along with the two speeding tickets and the 12-month cost of car insurance for 20 year old women goes up to an average of $4,441. That’s an increase of $2,687, or $224 per month, just for being a careless driver!
Why you should be comparing rates
North Carolina car insurance rates are calculated based on many things which can substantially change the price you have to pay for coverage. Simply turning a year older, buying higher coverage limits, or getting a reckless driving citation may cause policy rate changes resulting in some companies being cheaper than before. Not only may your situation change, but companies file new North Carolina car insurance rates multiple times each year in order to maintain liquidity for claims. An extended period of higher than normal claims may result in higher priced premiums, while long-term profits can produce more affordable Charlotte car insurance rates.
To help illustrate this point, the bar chart below shows a variety of companies that have the cheapest car insurance in Charlotte, NC for a 35-year-old male driver with no violations or accidents, and a decent credit rating. If we compare prices based on his current risk factors, Utica National offers the most affordable car insurance rates in Charlotte at $801 per year. This is $71 less than the average policy premium paid by North Carolina drivers of $872. Progressive, Liberty Mutual, Penn National, and Titan round out the rest of the best Charlotte, NC auto insurance companies.
In the next rate comparison, we’ll give the driver from above an accident claim, poor credit, and a stop sign violation. Due to the fact that each insurance company has a proprietary method to establish rates, comparing insurance quotes will most likely result in a new list of the cheapest car insurance companies in Charlotte as shown below.
GEICO now has the lowest car insurance rate in Charlotte with State Farm, Auto-Owners, Progressive, and Travelers also being competitive. This example demonstrates why Charlotte drivers need to compare as many rates as possible when trying to get the most affordable auto insurance rates for 20 year old women.
Rates are impacted by many risk factors and change dramatically, so the lowest-price company six months ago may now cost much more than other companies.