Trying to find reasonably-priced insurance is challenging, and figuring out which company offers the cheapest car insurance rates in Charlotte may require even more diligence. Each insurer uses their own formula to determine premium rates, so let’s begin by taking a look at the car insurance companies that tend to be cheaper in North Carolina.
It’s important to understand that Charlotte, NC car insurance rates are impacted by many things that can increase the price of your policy. This is why drivers need to perform a complete rate comparison to get cheap car insurance quotes in Charlotte. Insurance prices are made up of many different factors and change frequently, so the cheapest option two years ago may now be quite expensive.
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $636 |
| 2 | Progressive | $658 |
| 3 | Liberty Mutual | $707 |
| 4 | Penn National | $717 |
| 5 | NC Farm Bureau | $737 |
| 6 | Titan | $737 |
| 7 | GEICO | $742 |
| 8 | State Farm | $756 |
| 9 | Auto-Owners | $852 |
| 10 | Allied | $892 |
| 11 | Travelers | $900 |
| 12 | National General | $917 |
| 13 | Erie | $922 |
| 14 | Peerless | $962 |
| 15 | Nationwide | $1,001 |
| 16 | MetLife | $1,007 |
| 17 | Unitrin | $1,012 |
| 18 | Encompass | $1,063 |
| 19 | Allstate | $1,064 |
| 20 | Safeco | $1,076 |
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Utica National may offer some of the best car insurance rates in Charlotte at around $636 per year. This is $236 less than the average price paid by North Carolina drivers of $872. Progressive, Liberty Mutual, Penn National, and NC Farm Bureau would also make the list of some of the lowest-priced Charlotte, NC insurance companies.
As shown in the rates above, if you are a customer of Penn National and switched to Utica National, you might achieve savings of in the vicinity of $81. Drivers with NC Farm Bureau could save as much as $101 a year, and Titan policyholders might lower prices by $101 a year.
Bear in mind that those prices are averages across all types of insureds and vehicles and and are not calculated with a specific zip code in Charlotte. So the company that is best for you may not even be in the top 20 companies shown above. That points out the importance of why you need to quote rates from many companies using your own driver data and vehicle information.
One of the more important criteria that are used to help calculate the cost of insurance is where you keep your vehicle in Charlotte. Cities with more crime and/or more people tend to have more expensive car insurance rates, whereas areas with less people or fewer weather incidents have the luxury of cheap car insurance rates.
The illustration below rates the most expensive cities in North Carolina to buy an auto insurance policy in. Charlotte comes in at #3 with an annual rate of $832 for car insurance, which is around $69 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Fayetteville | $923 |
| 2 | Jacksonville | $891 |
| 3 | Charlotte | $832 |
| 4 | Gastonia | $779 |
| 5 | Raleigh | $767 |
| 6 | Durham | $765 |
| 7 | Goldsboro | $765 |
| 8 | Greensboro | $763 |
| 9 | Wilmington | $758 |
| 10 | Indian Trail | $753 |
| 11 | High Point | $745 |
| 12 | Huntersville | $742 |
| 13 | Cary | $742 |
| 14 | Hickory | $740 |
| 15 | Greenville | $738 |
| 16 | Apex | $725 |
| 17 | Wilson | $724 |
| 18 | Rocky Mount | $718 |
| 19 | Salisbury | $705 |
| 20 | Burlington | $699 |
| 21 | Concord | $697 |
| 22 | Chapel Hill | $696 |
| 23 | Winston Salem | $695 |
| 24 | Kannapolis | $690 |
| 25 | Asheville | $687 |
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Prices are approximated as vehicle location can influence premiums noticeably.
The car, truck, or SUV you are trying to insure is one of the main factors when trying to find low-priced car insurance in Charlotte. Vehicles with limited top-end speed, a plethora of safety features, or low incidents of liability claims will cost significantly less to insure than high performance models.
The information below outlines coverage prices for a handful of the cheaper automobiles to insure in North Carolina.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 2WD | $1,269 |
| Ford Escape XLT 4WD | $1,303 |
| Ford Focus SEL 4-Dr Sedan | $1,379 |
| Ford Edge SE 2WD | $1,396 |
| Toyota Camry SE | $1,406 |
| Toyota Prius | $1,408 |
| Honda Odyssey EX W/Rear Entertainment | $1,427 |
| Ford Fusion SE 4-Dr Sedan | $1,432 |
| Chevrolet Equinox LTZ 2WD | $1,438 |
| Chevrolet Malibu Hybrid | $1,456 |
| Ford F-150 Lariat Super Cab 2WD | $1,485 |
| Dodge Grand Caravan SXT | $1,492 |
| Toyota RAV4 4WD | $1,501 |
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Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Price information does not factor in Charlotte, NC location which can lower or raise auto insurance rates considerably.
Looking at the rates, makes and models like the Honda CR-V, Ford Escape, Ford Focus, Ford Edge, and Toyota Camry are most likely to be some of the most budget-friendly vehicles to insure for drivers in Charlotte.
Get discounts on Charlotte auto insurance
Car insurance companies that offer coverage in Charlotte may also offer discounts that could lower prices by as much as 35% or more if you can meet the requirements. Popular insurance companies and some of their more popular discounts are outlined below.
- State Farm discounts include driver’s education, multiple policy, accident-free, Drive Safe & Save, and good student.
- Nationwide offers discounts for anti-theft, defensive driving, accident-free, good student, family plan, business or organization, and multi-policy.
- GEICO policyholders can earn discounts including good student, anti-lock brakes, membership and employees, air bags, and seat belt use.
- AAA has discounts for anti-theft, good student, multi-car, education and occupation, AAA membership discount, good driver, and pay-in-full.
- 21st Century may include discounts for driver training, theft prevention, defensive driver, student driver, 55 and older, teen driver, and early bird.
- The Hartford includes discounts for good student, air bag, driver training, bundle, defensive driver, anti-theft, and vehicle fuel type.
The diagram below compares auto insurance costs with and without discounts applied to the policy premium. The rates are based on a female driver, no claims, a clean driving record, North Carolina state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with passive restraint, vehicle safety, defensive driving course, homeowner, multiple vehicle, and claim-free discounts applied. With discounts applied, theamount saved on insurance in Charlotte is 27% or $309.
Responsible drivers pay cheaper insurance rates
The common sense way to obtain low insurance rates for drivers in Charlotte is to drive attentively and avoid at-fault accidents and violations. The example below highlights how traffic violations and fender-benders can affect auto insurance rates for each different age group. The price estimates are based on a married male driver, full coverage, $250 deductibles, and no discounts are taken into consideration.
In the previous example, the average cost of an auto insurance policy per year with no accidents and a clean driving record is $1,125. Get one speeding ticket and the average cost hikes up to $1,289, an increase of $164 each year. Then throw in two accidents along with the one speeding ticket and the annual cost of insurance in Charlotte jumps again to an average of $2,718. That’s an increase of $1,593, or $133 per month, just for being a careless driver!
Comparison of full coverage and liability-only policies
Lowering the price of insurance should be important to most people, and one of the fastest ways to pay less for insurance in Charlotte is to buy liability only. The illustration below compares auto insurance rates with full coverage compared to only the North Carolina minimum liability coverage. The rate quotes are based on a clean driving record, no at-fault accidents, $1,000 deductibles, single status, and no discounts are applied to the premium.
As an average, physical damage coverage on your policy costs $1,401 per year over and above liability only. That proposes the question if paying for full coverage is a waste of money. There isn’t a written rule of when to exclude comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of comprehensive and collision coverage is more than around 10% of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.
There are a few situations where only buying liability is not a good idea. If you still have a lienholder on your title, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should not eliminate full coverage.
If you aren’t clear which coverage you need and would like to get some professional input when comparing insurance rates for drivers in Charlotte, the agents listed below can most likely help you determine which coverages you need.
To find an auto insurance agency closest to you, click the button below the list or click here to compare price quotes.
- Matt “Woody” Woodford – State Farm Insurance Agent
501 S Sharon Amity Rd #200 – Charlotte, NC 28211 – (704) 971-3030 - State Farm: Jeremy Fulkerson
4805 Park Rd #103 – Charlotte, NC 28209 – (704) 523-9005 - O H Walker Insurance Agency Inc
2210 Crownpoint Executive Dr – Charlotte, NC 28227 – (704) 814-4343
More insurance agents in Charlotte, NC
How to find cheaper insurance in Charlotte
The list below summarizes a few thrifty solutions that can help North Carolina drivers find more affordable car insurance.
- Avoid filing excessive claims
- Prevent rate increases by staying accident-free
- Maintain a clean driving record
- Increase physical damage deductibles
- Remove physical damage coverage on older vehicles
- Shop around once a year for cheaper rates
That final tip is particularly vital, as we discussed in this write-up. Prices charged by car insurance companies can be adjusted at any time, so don’t be tentative to switch companies if you can save money.
Staying with the same car insurance company is fine, but it’s not a good idea if that devotion results in you overpaying several hundred dollars every year. In just a couple of minutes you could compare prices and find cheaper car insurance in Charlotte in Charlotte.