You’ve seen the commercials from companies like Allstate and Liberty Mutual that promise the cheapest rates. So you just need to choose the one with the most memorable commercial, right?
That is not the case, however, as there are a whole bunch of unknown aspects like if you are currently insured, what physical damage coverage deductibles you want, the safety features built into your vehicle, and the amount of coverage you want, that all have an effect on the price of a policy. This article should teach you a little about the best ways to compare rates and will hopefully give the reader a good start to your coverage search.
Buying budget insurance is not the easiest thing to do, and figuring out which companies have the lowest-priced insurance rates for 19 year olds will involve additional perseverance.
Each auto insurance company uses their own formula for filing rates in each state, so let’s take a look at the lowest cost insurance companies in Charlotte. It’s important to know that North Carolina insurance rates are impacted by many things that may substantially change the cost of your policy. That is why it is so important to spend some time comparing rates when trying to find the lowest auto insurance quotes for 19 year olds. Auto insurance prices are impacted by many risk factors and change frequently, so the cheapest company the last time you compared rates may now be one of the more expensive options.
Find the Cheapest Auto Insurance for Teens
Progressive normally has some of the lowest car insurance rates in Charlotte at around $651 annually. This is $221 less than the average rate paid by North Carolina drivers of $872. Utica National, NC Farm Bureau, Penn National, and Liberty Mutual are also some of the lowest-priced Charlotte, NC car insurance companies.
In the rate table above, if you currently have a policy with Penn National and switched to Progressive, you could see an annual premium reduction of around $66. Insureds with Liberty Mutual might save as much as $70 a year, and GEICO insureds might cut rates by $99 a year.
To find cheaper insurance rates for your vehicle, click here to start your custom quote or feel free to get quotes from the companies below.
Bear in mind that those policy prices are averages for all types of drivers and the different vehicles they drive and and are not figured with a specific location for 19 year olds. So the company that fits your situation best may not even be in the top 20 companies shown above. That affirms the importance of why you need to get auto insurance quotes using your own specific driver and vehicle information.
The type of vehicle needing coverage is probably the most important factor when looking for cheap insurance for 19 year olds. Vehicles with lots of horsepower, poor safety ratings, or a track record of large liability claims will cost significantly more to insure than safer models.
The next list features coverage costs for some of the cheaper automobiles to insure in North Carolina.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$3,389|
|Honda Accord LX 4-Dr Sedan||$3,399|
|Honda CR-V EX-L 4WD||$3,428|
|Ford Explorer XLT AWD||$3,784|
|Volkswagen Jetta 2.0T Station Wagon||$3,947|
|Toyota Tacoma 2WD||$3,983|
|Chevrolet Impala LS||$3,993|
|Chevrolet Silverado LS Extended Cab 4WD||$4,022|
|Toyota RAV4 Limited 4WD||$4,028|
|Toyota Camry LE||$4,022|
|Dodge Grand Caravan Crew||$4,063|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$4,097|
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Data based on single female driver age 19, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium costs do not factor in specific zip code location which can impact insurance rates noticeably.
Looking at the rates, you can expect makes and models like the Ford Escape, Honda Accord, Honda CR-V, and Toyota Prius are a few of the cheapest vehicles to insure for teenage drivers. Auto insurance rates will be more expensive because there is a higher risk for 19 year olds, but in general those models will most likely have the lowest insurance rates compared to other types of vehicles.
For teenage drivers, one of the more important things that determine the amount you pay each year for auto insurance is your address in Charlotte. Areas with more people or even just a higher incidence of claims tend to have higher rates, whereas less populated areas can boast about having cheaper rates.
The next table rates the highest-priced areas in North Carolina for 19 year olds in which to purchase auto insurance. Charlotte ranks #3 with an annual cost of $840 for the average insurance policy, which is approximately $70 each month.
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Table data uses comparative as specific Charlotte zip code can modify premium rates significantly.
Rate increases following a ticket or accident
One of the best ways to receive cheap insurance prices in Charlotte for teenage drivers is to be a cautious driver and avoid tickets and accidents. The information below shows how traffic citations and accidents can affect premium costs for each age group. The premiums are based on a married male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.
The data charted above shows the average cost of auto insurance in Charlotte per year with no accidents or violations is $1,125. Get written up for two speeding tickets and the average cost swells to $1,549, an increase of $424 each year. Now include two accidents along with the two speeding tickets and the yearly cost of insurance for 19 year olds increases to an average of $3,113. That’s an increase of $1,987, or $166 per month, just for being a careless driver!
The chart below illustrates how your choice of deductibles can change yearly insurance costs when searching for cheap insurance for 19 year olds. The data is based on a single male driver, full coverage, and no policy discounts are applied.
In the chart above, a 50-year-old driver could pocket $206 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $310 by choosing a $1,000 deductible. Even younger drivers, like the Age 20 chart data, could lower their rates $670 or even more just by choosing larger deductibles.
If you do decide to increase your deductibles, it is essential to have plenty of money set aside to enable you to cover the extra out-of-pocket expense that is associated with using high deductibles.
Why it’s important to shop around
Charlotte, NC insurance rates are influenced by many factors that can increase the price of your policy. Getting older, buying another vehicle, or getting a DUI can trigger rate changes resulting in some rates now being more affordable than the competition. Not only may your situation change, but auto insurance companies change prices as needed to adjust for heavy claims or excess profits. Unexpectedly high claims may cause price increases, while lower claims may cause more affordable Charlotte car insurance rates.
For example, the graph below shows which companies have the cheapest car insurance in Charlotte, NC for a 30-year-old female driver with a clean driving record, no accidents, and good credit. Based on her current risk profile, Progressive may offer the best car insurance rates in Charlotte at $766 per year. This is $106 less than the average rate paid by North Carolina drivers of $872. Utica National, Liberty Mutual, NC Farm Bureau, and GEICO also make the list of the cheapest Charlotte, NC auto insurance companies.
Now we will give the driver from the above example an at-fault accident, less-than-perfect credit, and a speeding ticket. Because each company uses their own formula to set premium rates, analyzing rates may now present a different list of companies as shown below.
Penn National now has the best price in Charlotte, NC with State Farm, Auto-Owners, National General, and Allied now rounding out the top five. This example shows why it is crucial to compare many different companies to find cheap auto insurance rates for 19 year olds. Rates are impacted by many risk factors and can decrease or increase without notice, so the cheapest rate the last time you checked may now cost much more than other companies.
How to find cheaper insurance for 19 year olds
Below you’ll find many thrifty ideas that can help you locate cheaper coverage.
- Do not get tickets or violations
- Increase the comprehensive and collision deductibles on your policy
- Good credit can help you save money
- Having at-fault accidents will increase rates
- Buy vehicles with good safety ratings
- Compare prices as often as possible
The last tip in the list is extraordinarily valuable, as we hit on in the prior article. Insurance prices in Charlotte adjust often, so don’t hesitate to change insurance companies if you find a cheaper price. We understand brand loyalty, but it’s not a great idea if that devotion results in you overpaying major coinage every year. In just a couple of minutes you could compare prices to find cheaper auto insurance for 19 year olds.
If you aren’t sure which coverage you need and prefer to have some advice when trying to find lower insurance rates for 19 year olds, the agents listed below are willing to aid you in deciding which policy fits your needs best.
To locate an agency near you, click the button at the bottom or click here to compare rates now.
- Brian McCaw – State Farm Insurance Agent
5950 Fairview Rd #220 – Charlotte, NC 28210 – (704) 554-0144
- State Farm: Happy Mullen
2201 South Blvd #420 – Charlotte, NC 28203 – (704) 362-0800
- Daniela Hernandez – State Farm Insurance Agent
5811 Fairview Rd Ste 102 – Charlotte, NC 28209 – (704) 733-9022