Who Has the Cheapest Charlotte Auto Insurance Rates for a Toyota RAV4?

Finding cheap coverage for a Toyota RAV4 in North Carolina can be really easy, but it is dependent upon a complicated rating formula that uses factors such as how far you drive to work, your residence address, and any prior driving citations you have received. Drivers in North Carolina pay around $933 a year for RAV4 insurance, but that cost is an approximation based on a 40-year-old single male driver with full comprehensive and collision coverage and $100 deductibles.

There’s a high likelihood you are not 40 and maybe not even a male, married instead of single, or maybe you have a teenager that needs to be on your policy. Just a slight change in rating criteria or coverage limits may result in a big change in the price of coverage.

Auto insurance is not the same for everyone, so the only real way to find cheap car insurance rates for your Toyota is to do your own rate comparisons. Get your free quotes now and you will receive prices from some of the most affordable companies available.

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Toyota RAV4 Insurance Rates in Charlotte, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RAV4 2WD $210 $446 $302 $18 $90 $1,066 $89
RAV4 Sport 2WD $210 $446 $302 $18 $90 $1,066 $89
RAV4 4WD $210 $446 $302 $18 $90 $1,066 $89
RAV4 Limited 2WD $210 $446 $302 $18 $90 $1,066 $89
RAV4 Limited 4WD $210 $446 $302 $18 $90 $1,066 $89
RAV4 Limited 4WD $210 $446 $302 $18 $90 $1,066 $89
RAV4 Sport 4WD $210 $446 $302 $18 $90 $1,066 $89
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Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Price information does not factor in specific location which can modify insurance rates considerably.

Picking the right auto insurance provider can be a challenge considering how many companies are available to choose from in Charlotte. The company ratings shown next may help you pick which auto insurance companies you want to consider when buying insurance for a Toyota RAV4. The rankings below are for companies with a national presence, so companies that only write business in North Carolina or surrounding areas are not taken into consideration for this list.

Top 10 Large Auto Insurance Providers in Charlotte Ranked by Claims Service

  1. Travelers
  2. Nationwide
  3. Allstate
  4. State Farm
  5. Liberty Mutual
  6. GEICO
  7. American Family
  8. Esurance
  9. Titan Insurance
  10. AAA Insurance

Top 10 Large Auto Insurance Providers in Charlotte Ranked by Customer Satisfaction

  1. USAA – 91%
  2. AAA Insurance – 90%
  3. Esurance – 90%
  4. Nationwide – 89%
  5. Travelers – 88%
  6. Progressive – 88%
  7. Safeco Insurance – 88%
  8. State Farm – 88%
  9. Allstate – 88%
  10. The Hartford – 87%

Should you buy full coverage?

Buying cheaper insurance should be important to the majority of people, and one of the easiest ways to find cheap insurance for a Toyota RAV4 is to only buy liability insurance. The chart below shows the comparison of insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums are based on no accidents or driving violations, $1,000 deductibles, single marital status, and no discounts are taken into consideration.

If we average the cost for all age groups, full coverage costs an extra $1,243 per year over and above liability only. A very common question is when is the right time to remove full coverage. There is no set guideline to delete physical damage coverage, but there is a general convention. If the annual cost of coverage is more than about 10% of the settlement you would receive from your company, then you might consider buying liability only.

For example, let’s assume your vehicle’s claim settlement value is $4,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled, you would only receive $3,500 after paying your deductible. If it’s costing in excess of $350 a year for physical damage coverage, then it might be time to buy liability only.

There are some scenarios where removing full coverage is not advised. If you haven’t paid off your loan, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should maintain full coverage.

Can you find cheaper RAV4 insurance?

Charlotte insurance rates are determined by lots of factors that may substantially change the price you have to pay. Turning one year older, moving to a new city, or getting caught speeding may generate price changes resulting in some companies being cheaper than competitors.

Not only may your risk profile change, but insurers change prices as needed as an adjustment for underwriting gains or losses. An unexpected high level of claims can cause more expensive prices, while a better loss history may produce lower-priced RAV4 insurance rates.

To illustrate this point, the chart below shows the companies that have the cheapest car insurance in Charlotte, NC for a 45-year-old male driver with a clean driving record, no accidents, and good credit. When comparing rates based on his current rating profile, Progressive might offer the most affordable car insurance rates in Charlotte at $826 each year. This is $46 less than the average rate paid by North Carolina drivers of $872. Utica National, Liberty Mutual, Penn National, and GEICO are the remaining most affordable Charlotte, NC auto insurance companies.

The example below compares rates after we give the driver from above a chargeable accident, poor credit, and a stop sign violation. Since each insurance company has their own unique process for setting rates, getting updated rate quotes could now result in a completely different list of affordable companies as shown below.

NC Farm Bureau now has the best price in Charlotte with State Farm, Auto-Owners, National General, and Erie now being in the top five. This example shows why Charlotte drivers need to spend some time comparing rates when trying to find the most economical insurance rates for a Toyota RAV4.

Insurance prices consist of many risk factors and can increase or decrease at any time, so the lowest-price company the last time you shopped around may now be an over-priced policy.