One of the more important components that are used to help calculate the amount you pay each year for auto insurance is where you keep your car. Areas with more people or higher crime rates tend to have more expensive car insurance rates, whereas areas with lower crime rates and fewer weather claims benefit from lower prices.
The following table rates the most expensive areas in North Carolina for drivers over age 70 to buy an auto insurance policy in. Charlotte comes in at #3 with an annual cost of $832 on average, which is about $69 per month.
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Premium amounts are approximated as zip code location can affect coverage rates noticeably.
Determining which company quotes the cheapest car insurance rates for drivers over age 70 will involve a little more work in order to find the best price. Every car insurance company has a unique formula to determine premium rates, so let’s take a look at the lowest cost car insurance companies in Charlotte, NC.
We do need to point out that North Carolina car insurance rates are determined by lots of factors that can increase the price of your policy. Simply having another birthday, increasing deductibles, or getting a few speeding tickets may prompt premium changes that can now make some companies affordable when they were higher priced.
Best Auto Insurance Prices for Age 70+
Utica National may have some of the most affordable car insurance rates in Charlotte at around $636 annually. This is $236 less than the average price paid by North Carolina drivers of $872. Progressive, Liberty Mutual, NC Farm Bureau, and Penn National also rank well as some of the lowest-priced Charlotte, NC insurance companies.
As shown above, if you currently buy coverage from NC Farm Bureau and switched to Utica National, you may see a yearly price reduction of about $80. Drivers with Penn National could save as much as $81 a year, and Titan policyholders might cut rates by $93 a year.
Understand that those estimates are averaged for all types of drivers and the different vehicles they drive and are not factoring in an exact zip code location for drivers over age 70. So the auto insurance company that is best suited for you may not even be in the top 20 companies shown above. That emphasizes why you need to get rate quotes using your own driver information and specific vehicle type.
The type of vehicle you are seeking coverage for is one of the primary factors when comparing quotes for the best cheap coverage for drivers over age 70. Vehicles with average performance, excellent safety ratings, or a positive history of liability claims will cost less to insure than high performance models.
The data below features auto insurance premiums for a handful of the most cost-effective vehicles to buy coverage for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 2WD||$1,305|
|Ford Escape Limited 2WD||$1,314|
|Hyundai Elantra SE Touring Station Wagon||$1,387|
|Ford F-150 STX Super Cab 2WD||$1,421|
|Dodge Grand Caravan SE||$1,443|
|Jeep Grand Cherokee Laredo 4WD||$1,524|
|Toyota RAV4 4WD||$1,533|
|Chevrolet Malibu Hybrid||$1,524|
|Volkswagen Jetta LE 4-Dr Sedan||$1,531|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$1,546|
|Ford Explorer Eddie Bauer AWD||$1,555|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$1,563|
|Ford Edge Sport AWD||$1,604|
|Toyota Corolla S||$1,611|
|Chevrolet Impala LTZ||$1,604|
|Toyota Camry XLE||$1,610|
|GMC Sierra SLT Crew Cab 2WD||$1,626|
|GMC Sierra 2500HD SLE Regular Cab 4WD||$1,633|
|Chevrolet Silverado LTZ Extended Cab 4WD||$1,626|
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Data based on single female driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Rate quotes do not factor in Charlotte, NC location which can raise or lower rates greatly.
Based upon these rates, makes and models like the Honda CR-V, Ford Escape, Hyundai Elantra, and Toyota Prius should be a few of the less-costly vehicles to insure for older drivers. Prices will tend to be higher because there is a higher risk for drivers over age 70, but generally speaking those models will probably have the lowest insurance prices compared to all other vehicles.
Careless driving habits raise car insurance rates
One of the best ways to maintain cheap car insurance rates for older drivers is to be a cautious driver and not receive tickets or have accidents. The chart below illustrates how traffic citations and at-fault claims can increase premium costs for each age group. The data assumes a married female driver, full coverage, $500 deductibles, and no other discounts are factored in.
In the example above, the average cost of a car insurance policy per year with no accidents and a clean driving record is $1,206. Receive two speeding tickets and the average cost rises to $1,710, an increase of $504 each year. Now include one accident along with the two speeding tickets and the yearly cost of car insurance for drivers over age 70 jumps again to an average of $2,225. That’s an increase of $1,019, or $85 per month, just for not driving carefully!
Picking the right car insurance provider can be difficult considering how many companies provide coverage in North Carolina. The ranking data shown next could help you choose which car insurance companies you want to consider when comparing insurance rates for drivers over age 70.
The rankings below are for the largest auto insurers in America, so companies that may only write in North Carolina are not factored into the list. If you’d like to compare prices from these and other competitive companies, click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
The chart below demonstrates how choosing different deductibles can raise or lower insurance costs when trying to find cheap insurance for drivers over age 70. The premium estimates are based on a married female driver, comp and collision included, and no additional discounts are factored in.
The chart above illustrates that a 50-year-old driver could lower their car insurance rates by $170 a year by switching from a $100 deductible to a $500 deductible, or save $258 by choosing a $1,000 deductible. Young drivers, such as the 20-year-old chart data, could save up to $422 each year by choosing a larger deductible amount.
When raising deductibles, it’s a good idea to have plenty of discretionary funds to allow you to cover the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
Tips for buying economical car insurance for drivers over age 70
Here are some of the better money-saving solutions that can help North Carolina drivers quote cheaper car insurance.
- Avoid having at-fault accidents
- Avoid getting citations and tickets
- Higher deductibles save money
- Pay lower rates with good credit
- Don’t waste money on full coverage for older vehicles
- Drive vehicles with five-star safety ratings
- Compare rates and switch if you can find a better deal
That last piece of advice is certainly critical, as we discussed in the prior information. Coverage rates go up and down frequently, so don’t be unwilling to switch to a new company if a lower price can be found.
Being loyal to a particular company is commendable, but it’s not recommended if that loyalty results in overpaying a fortune every year. Now is a great time to compare prices to find cheaper insurance for drivers over age 70 in Charlotte.
If you would rather have the advice of a professional agent when shopping for cheaper insurance for older drivers, the agents listed below are willing to help you make a decision which car insurance policy is best. To find an auto insurance agency using an interactive map, click the button at the bottom of the list.
- The Jordan Insurance Agency,LLC
13860 Ballantyne Corporate Pl #120 – Charlotte, NC 28277 – (704) 926-7565
- Honeycutt Insurance Agency
3121 Springbank Ln F – Charlotte, NC 28226 – (704) 752-8233
- Brian McCaw – State Farm Insurance Agent
5950 Fairview Rd #220 – Charlotte, NC 28210 – (704) 554-0144
- Nationwide Insurance: Ed Cantey Insurance Agency Inc
5534 Albemarle Rd Ste 105 – Charlotte, NC 28212 – (704) 563-7777