If your goal is the lowest price, then the best way to find the cheapest price for car insurance rates in Charlotte is to compare prices regularly from companies in North Carolina. You can compare rates by following these guidelines.
Step 1: Gain an understanding of individual coverages and the measures you can take to prevent expensive coverage. Many rating criteria that drive up the price such as speeding tickets, accidents and a negative credit score can be controlled by making minor changes in your lifestyle. This article gives additional ideas to get cheaper rates and find more discounts that you may not know about.
Step 2: Get rate quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give rate quotes from a single company like GEICO or Farmers Insurance, while independent agencies can provide prices for a wide range of insurance providers. View prices
Step 3: Compare the new rate quotes to your existing policy and determine if there is any savings. If you find a better price and switch companies, verify that coverage does not lapse between policies.
Step 4: Provide notification to your current agent or company of your intention to cancel your current policy and submit the signed application along with the required initial payment to your new carrier. Immediately keep the new certificate verifying coverage in your glove compartment.
The critical component of shopping around is that you’ll want to compare the same amount of coverage on each price quote and and to get price estimates from as many auto insurance providers as possible. This enables an apples-to-apples comparison and a complete rate analysis.
It’s shocking but the vast majority of consumers in North Carolina renewed their policy with the same company for more than four years, and 38% of drivers have never compared rates with other companies. The average driver in America could save an average of up to $859 each year by just comparing rate quotes, but they think it’s difficult to find cheaper car insurance rates.
When comparison shopping, comparing a large number of companies increases your odds of finding a lower rate. Some smaller insurers do not give Charlotte Altima insurance quotes over the internet, so you need to compare quotes from them, too.
The car insurance companies shown below are our best choices to provide price comparisons in Charlotte, NC. If you want the cheapest auto insurance in NC, we recommend you get rate quotes from several of them to find the cheapest car insurance rates.
Rates and other information
The rate table shown next highlights estimates of insurance prices for Nissan Altima models. Having knowledge of how auto insurance premiums are determined can be of help when making smart buying decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Altima 2.5 4-Dr Sedan | $132 | $250 | $336 | $20 | $100 | $838 | $70 |
| Altima 2.5 S 4-Dr Sedan | $132 | $296 | $336 | $20 | $100 | $884 | $74 |
| Altima Hybrid 4-Dr Sedan | $148 | $296 | $336 | $20 | $100 | $900 | $75 |
| Altima 2.5 S 2-Dr Coupe | $148 | $296 | $380 | $22 | $114 | $960 | $80 |
| Altima 3.5 SR 4-Dr Sedan | $148 | $296 | $336 | $20 | $100 | $900 | $75 |
| Altima 3.5 SR 2-Dr Coupe | $148 | $340 | $380 | $22 | $114 | $1,004 | $84 |
| Get Your Own Custom Quote Go | |||||||
Data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Table data does not factor in specific location information which can change auto insurance rates considerably.
Physical damage deductibles: Should you raise them?
A question often asked by Charlotte drivers is how high should the physical damage deductibles be. The figures shown below illustrate the difference in cost when you choose different deductibles. The first pricing table uses a $100 deductible for comp and collision and the second set of prices uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Altima 2.5 4-Dr Sedan | $214 | $386 | $250 | $14 | $74 | $963 | $80 |
| Altima 2.5 S 4-Dr Sedan | $214 | $456 | $250 | $14 | $74 | $1,033 | $86 |
| Altima Hybrid 4-Dr Sedan | $242 | $456 | $250 | $14 | $74 | $1,061 | $88 |
| Altima 2.5 S 2-Dr Coupe | $242 | $456 | $282 | $16 | $84 | $1,105 | $92 |
| Altima 3.5 SR 4-Dr Sedan | $242 | $456 | $250 | $14 | $74 | $1,061 | $88 |
| Altima 3.5 SR 2-Dr Coupe | $242 | $524 | $282 | $16 | $84 | $1,173 | $98 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Altima 2.5 4-Dr Sedan | $118 | $204 | $250 | $14 | $74 | $660 | $55 |
| Altima 2.5 S 4-Dr Sedan | $118 | $240 | $250 | $14 | $74 | $696 | $58 |
| Altima Hybrid 4-Dr Sedan | $134 | $240 | $250 | $14 | $74 | $712 | $59 |
| Altima 2.5 S 2-Dr Coupe | $134 | $240 | $282 | $16 | $84 | $756 | $63 |
| Altima 3.5 SR 4-Dr Sedan | $134 | $240 | $250 | $14 | $74 | $712 | $59 |
| Altima 3.5 SR 2-Dr Coupe | $134 | $276 | $282 | $16 | $84 | $792 | $66 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Rate information does not factor in garaging location in Charlotte which can impact coverage rates significantly.
Based on these figures, using a $100 deductible costs about $29 more each month or $348 every year than buying the higher $1,000 deductible. Since you would have to pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you have at a minimum 31 months between claim filings, you would probably be better off if you choose the higher deductible.
Full coverage rates vs. liability-only in Charlotte
The illustration below compares Nissan Altima car insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in North Carolina. The premium estimates are based on no violations or claims, $500 deductibles, marital status is single, and no discounts are applied.
Guidelines for eliminating full coverage
There is no clear-cut formula of when to drop full coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
For example, let’s say your Nissan Altima settlement value is $8,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $7,000 after you pay the deductible. If it’s costing you more than $700 annually for your policy with full coverage, then you might consider buying liability only.
There are a few situations where buying only liability insurance is not financially feasible. If you still have a loan on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not opt for liability only.
Protect more than your Nissan Altima
Despite the potentially high cost of Nissan Altima insurance, buying insurance is required in North Carolina but also provides important benefits.
- Almost all states have mandatory liability insurance requirements which means state laws require a specific level of liability insurance in order to license the vehicle. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your Nissan has a lienholder, it’s guaranteed your bank will make it a condition of the loan that you have physical damage coverage to guarantee loan repayment. If you do not pay your insurance premiums, the bank will be required to insure your Nissan for a lot more money and require you to reimburse them the higher premium.
- Insurance protects not only your Nissan Altima but also your assets. It will also pay for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. Liability insurance also covers all legal expenses up to the policy limit in the event you are sued. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will pay to restore your vehicle to like-new condition.
The benefits of carrying enough insurance definitely exceed the cost, particularly for liability claims. The average driver in America is wasting up to $820 a year so it’s very important to do a rate comparison at every policy renewal to ensure rates are inline.
Learn How to Lower Your Insurance Rates
Many different elements are used when premium rates are determined. Some are pretty understandable like an MVR report, but others are more obscure such as your credit history or how safe your car is.
Shown below are just a few of the factors that factor into prices.
Fast cars cost more to insure – The performance of the vehicle you need to insure makes a substantial difference in the rate you pay. The lowest base rates are for small economy passenger vehicles, but other factors influence the final cost greatly.
The data below assumes a married male driver age 30, full coverage with $100 deductibles, and no discounts or violations. It illustrates Nissan Altima insurance rates compared to other makes and models that have different performances.
Guys are more aggressive – Over time, data shows that females take fewer risks when driving. The data does not necessarily mean that women are BETTER drivers than men. Women and men tend to get into at-fault accidents at a similar rate, but males get into accidents with more damage. Not only are claims higher, but men get more serious tickets like driving under the influence (DUI). Young men ages 16 to 20 have the highest risk to insure so it costs more to insure them.
The information below illustrates the difference between Nissan Altima insurance prices for male and female drivers. The rates are based on no claims or driving citations, full physical damage coverage, $1,000 deductibles, drivers are not married, and no policy discounts are applied.
Deter vehicle theft – Owning a car that has a built-in theft deterrent system can help lower your rates. Theft prevention features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all aid in stopping auto theft and help lower rates.
Fewer miles means better costs – The higher the miles on your Nissan in a year the more you’ll pay to insure your vehicle. Many insurance companies apply a rate partially by how you use the vehicle. Autos left parked in the garage get more affordable rates compared to those used for work or business. Ask your agent if your vehicle rating properly reflects annual mileage. An incorrectly rated Altima is just wasting money.
Having a spouse is a good thing – Walking down the aisle can get you a discount compared to being single. Marriage is viewed as being more mature and responsible and it’s statistically proven that married drivers tend to have fewer serious accidents.
Teenagers are high risk – Mature drivers tend to be more responsible, cause fewer claims and accidents, and get fewer tickets. Teenage drivers have been known to be inattentive behind the wheel so they pay higher auto insurance rates.
The data below uses these variables: single driver, full coverage with $100 deductibles, and no discounts or violations.
Raise deductibles and save – Insurance for physical damage, aka comp and collision, is used to repair damage to your Nissan. A few examples of covered claims would be a dented fender, hail damage, and rolling your vehicle. The deductibles you choose define how much you are willing to pay before your auto insurance pays a claim. The higher the amount you choose to pay out-of-pocket, the less your auto insurance will be.
Occupation stress can make you pay more – Careers like doctors, architects, and financial analysts are shown to have higher rates than average in part from job stress and lots of time spent away from family. On the other hand, jobs like scientists, engineers and homemakers receive lower rates.
Nissan Altima claim data – Insurance companies use statistical claims data to help determine the price you pay. Vehicles that statistically have increased claim numbers or amounts will have higher premium rates. The table below illustrates the historical loss data for Nissan Altima vehicles.
For each type of coverage, the claim probability for all vehicles, regardless of make or model, is set at 100. Numbers below 100 suggest a better than average loss history, while values that are above 100 indicate frequent claims or statistically larger losses.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Nissan Altima | 110 | 97 | 119 | 144 | 147 | 114 |
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Don’t give up on cheaper premiums
We covered quite a bit of information on how to save on Nissan Altima insurance in Charlotte. It’s most important to understand that the more quotes you get, the higher your chance of finding inexpensive Charlotte car insurance quotes. You may even find the biggest savings come from an unexpected company.
People leave their current company for a number of reasons such as unfair underwriting practices, denial of a claim, lack of trust in their agent or even not issuing a premium refund. No matter why you want to switch, finding a new car insurance company can be easier than you think.
As you shop your coverage around, do not buy less coverage just to save a little money. Too many times, consumers will sacrifice comprehensive coverage or liability limits only to find out that saving that couple of dollars actually costed them tens of thousands. The goal is to buy enough coverage for the lowest price while still protecting your assets.
Additional information can be read at these links:
- Collision Coverage (Liberty Mutual)
- Who Has Affordable Charlotte Auto Insurance Quotes for a Chevrolet Equinox? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Low Credit Scores in Charlotte? (FAQ)
- Who Has Affordable Auto Insurance for Drivers with a Bad Driving Record in Charlotte? (FAQ)
- What Auto Insurance is Cheapest for a Learners Permit in Charlotte? (FAQ)
- How Much are Charlotte Car Insurance Quotes for Government Employees? (FAQ)
- Who Has Affordable Charlotte Car Insurance for Drivers Over Age 60? (FAQ)
- What Insurance is Cheapest for Teenagers in Charlotte? (FAQ)
- Rental Reimbursement Coverage (Allstate)
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
- Side Impact Crash Tests (iihs.org)