One of the more important considerations that aid in calculating the amount you pay each year for auto insurance is your zip code. Areas with a lot of weather claims or more people will most likely pay more, whereas more rural areas benefit from having to pay less for coverage.
The following table rates the priciest cities in North Carolina for a school permit in which to buy car insurance. Charlotte is ranked at #3 with a yearly cost of $840 for the average insurance policy, which is approximately $70 monthly.
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Information shown are comparative as the garaging address in Charlotte can revise rates greatly.
The make and model of vehicle to be insured is probably the biggest factor when comparing quotes for cheaper insurance for a school permit. Vehicles with limited speed and performance, modern passenger safety features, or a positive history of liability claims will cost much less to insure than higher performance models.
The data below shows coverage rates for some of the most affordable automobiles to insure.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$4,751|
|Ford Escape XLT 2WD||$4,758|
|Volkswagen Jetta S 2.5 Station Wagon||$5,111|
|Honda Odyssey LX||$5,275|
|Ford Explorer XLT 2WD||$5,324|
|Ford Edge SE AWD||$5,585|
|Ford Focus SE 4-Dr Sedan||$5,594|
|Toyota RAV4 Sport 2WD||$5,634|
|Chevrolet Malibu Hybrid||$5,639|
|Toyota Camry LE||$5,634|
|Nissan Altima 2.5 4-Dr Sedan||$5,641|
|Chevrolet Equinox LS 2WD||$5,634|
|Ford F-150 Lariat Crew Cab 4WD||$5,683|
|Dodge Grand Caravan SXT||$5,691|
|Toyota Corolla XLE||$5,945|
|Toyota Tacoma X-Runner 2WD||$5,950|
|Chevrolet Impala LTZ||$5,945|
|Hyundai Elantra GLS 4-Dr Sedan||$5,950|
|Jeep Grand Cherokee SRT-8 4WD||$5,994|
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Premium data assumes single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, and safe-driver. Price information does not factor in specific garaging location which can revise rates noticeably.
Based upon these rates, you can figure that makes and models like the Honda CR-V, Ford Escape, Volkswagen Jetta, Toyota Prius, and Honda Odyssey will be a few of the less-costly vehicles to insure for a learners permit. The cost of a car insurance policy will be higher anyway just due to the fact that there is more liability risk for a school permit, but overall those particular vehicles will have the lowest insurance prices compared to other types of vehicles.
Finding out which companies offer the most affordable auto insurance rates for a school permit may require a tad more effort than just comparing a company or two. Each auto insurance company has a unique formula for filing rates in each state, so let’s rank the overall cheapest auto insurance companies in North Carolina.
It’s important that you understand Charlotte auto insurance rates are determined by lots of factors which can significantly increase or decrease the cost of having a policy. Simply having a birthday, moving to a different location, or getting caught speeding can produce rate changes that can make some companies cheaper than others.
Best Auto Insurance Prices for Students
|Rank||Company||Cost Per Year|
|5||NC Farm Bureau||$730|
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Utica National may have some of the cheapest car insurance rates in Charlotte at around $643 per year. This is $229 less than the average rate paid by North Carolina drivers of $872. Progressive, Penn National, Liberty Mutual, and NC Farm Bureau also rank well as some of the best Charlotte, NC insurance companies.
As shown in the rates above, if you are currently insured with Penn National and switched to Utica National, you could earn a yearly price reduction of around $74. Policyholders with Liberty Mutual may save as much as $78 a year, and NC Farm Bureau insureds might reduce rates by $87 a year.
These policy prices are averaged for all ages of drivers and types of vehicles and do not factor in a vehicle location for a school permit. So the insurer that fits your situation best may not even be in the top 20 companies shown above. That underscores the importance of why you need to compare rates from multiple companies using your own specific driver and vehicle information.
Driving violations and accidents
The recommended way to score the cheapest auto insurance rates in North Carolina for a learners permit is to drive safe and not receive tickets or have accidents. The chart below highlights how traffic violations and at-fault collisions can increase insurance premiums for each different age group. Data assumes a married male driver, full physical damage coverage, $100 deductibles, and no discounts are factored in.
In the example above, the average cost of a car insurance policy in Charlotte per year with a clean driving record and no accidents is $1,367. Factor in two speeding tickets and the average cost increases to $1,891, an increase of $525 each year. Then add in one accident along with the two speeding tickets and the annual cost of auto insurance for a school permit jumps again to an average of $2,418. That’s an increase of $1,051, or $88 per month, just for not being more responsible behind the wheel!
Full coverage versus liability only rates
Finding the cheapest auto insurance is the goal of most people, and one easy way to save on the cost of insurance for a school permit is to buy only liability coverage. The diagram below visualizes the comparison of annual premium costs with liability coverage only compared to full coverage. The premium estimates are based on no accidents or driving violations, $250 deductibles, drivers are not married, and no additional discounts are factored in.
If we average all the age groups together, full coverage costs $1,316 per year over and above liability coverage. Many of you may wonder if buying full coverage is worth the money. There is no definitive guideline of when to phase out comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of having full coverage is 10% or more of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.
For example, let’s pretend your vehicle’s claim settlement value is $7,500 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would get paid by your company is $6,500 after the deductible is paid. If you are paying in excess of $650 a year for comprehensive and collision coverage, then it may be the right time to buy liability only.
There are some circumstances where removing full coverage is not advised. If you still have a loan on your vehicle, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should not opt for liability only.
How to find cheaper car insurance for a school permit
Here are some of the better thrifty suggestions that can help North Carolina drivers locate lower-cost coverage.
- Safe vehicles generally have lower rates
- Having at-fault accidents will increase rates
- Violations and traffic tickets increase rates
- Frequent claims will increase rates
- Save money by bundling your home and auto policies
- Compare rate quotes frequently
That last tip is remarkably important, as we discussed in this piece. Prices charged by companies can change significantly in a year, so don’t be hesitant to buy a policy from a new company if a cheaper rate is available.
Brand loyalty is great, but it’s not a great idea if that loyalty results in overpaying thousands of dollars over the life of your policy. If you have a few minutes, now is a great time to compare prices to find cheaper car insurance for a school permit in Charlotte.
The agents below are willing to answer your questions and help you decide which policy is best, since lots of drivers aren’t clear which coverage they need and would like to have the advice of a professional agent when comparing insurance rates for a school permit. It can be challenging to find the best coverage yourself, so insurance agents can add peace of mind knowing your coverage gives you decent coverage if you have a claim. To locate an agency close to where you live, click the button after the list or click here to get price quotes now.
George Pettice – State Farm Insurance Agent
820 Tyvola Rd #103 – Charlotte, NC 28217 – (704) 523-1717
Sarah Highfill – State Farm Insurance Agent
7845 Colony Rd – Charlotte, NC 28226 – (704) 541-9999
Alex Williamson – State Farm Insurance Agent
4108 Park Rd #106 – Charlotte, NC 28209 – (704) 525-9995
Michael Grant – State Farm Insurance Agent
1727 East Blvd – Charlotte, NC 28203 – (704) 373-7444
3611 Mt Holly-Huntersville Rd #205 – Charlotte, NC 28216 – (704) 395-1239