The best cheap car insurance in North Carolina

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Car insurance in North Carolina is relatively affordable. According to the Insurance Information Institute, the average driver spends about $700 per year on premiums. That’s much less than the national average of $935 per year. 

Auto insurance costs can vary widely from person to person, and many factors go into them. Car insurance companies consider your location, age, gender, and driving record to calculate rates for premiums. Other factors like credit score, marital status, vehicle type, previous coverage, and miles driven can all play a role in the amount you’ll pay for coverage.

Minimum car liability insurance requirements in North Carolina

In the US, drivers must have liability coverage. If you’re involved in an accident, liability insurance covers damage you cause to the other vehicle, driver, and passengers. If you finance or lease your car, your lender probably requires comprehensive and collision coverage. 

The two main components of liability insurance are bodily injury and property damage, which most states require. Liability insurance also includes uninsured motorist and underinsured motorist coverage to protect you when an at-fault driver hits you and they have no coverage or not enough coverage.

According to the Insurance Information Institute, North Carolina requires bodily, property, uninsured, and underinsured coverage. North Carolina’s minimum liability requirements are 30/60/25 — up to $30,000 of injury protection for each person involved in an accident, up to $60,000 worth of injuries per incident, and up to $25,000 of property damages per incident. 

Best cheap car insurance in North Carolina based on credit score

Consumer Reports compiled a list of all car insurance pricing formulas from all companies in every state. It used an average single adult driver to find the best pricing in each state and found that three companies came out on top for three different credit levels. Here are the three best companies and their average price for coverage:

Best car insurance for North Carolina drivers with a clean record

For a driver in North Carolina age 25 or older with no accidents and one vehicle, the following companies provide the best average rates:

*USAA is only for active military, veterans, and their families.

Above data obtained from Savvy, based on 3,126 policyholders in the state of North Carolina

Best car insurance for North Carolina drivers one or more accidents 

For a driver in North Carolina age 25 or older, with one or more accidents and one vehicle, the following companies provide the best average rates:

Above data obtained from Savvy, based on 3,126 policyholders in the state of North Carolina

Average premiums for seniors and teen drivers in North Carolina

The table below shows the average senior and teen drivers can expect to pay in North Carolina. Because teen drivers are new drivers with little driving history and more prone to accidents, their rates are high. Most insurance companies offer discounts to teen drivers for good grades or taking driving safety classes.

Senior drivers typically see an uptick in car insurance premiums as they age, but not as much of an increase as new or teen drivers. If you’re still driving in your 60s and 70s, there are ways to negotiate cheaper auto insurance rates, like pay-per-mile usage.

Data provided by Goosehead Insurance

North Carolina car insurance rates by city

Below is the estimated average annual premium of auto insurance policies per household in North Carolina’s most populous cities:

Data from S&P Global Market Intelligence

Best car insurance in North Carolina based on customer satisfaction

Customer satisfaction with car insurance providers may factor into your decision. Five factors define customer satisfaction: billing process and policy information; claims; interaction; policy offerings; and price. According to a 2021 survey by J.D. Power, a consumer research company that surveys customers, these are the top car insurance companies in the Southeast region (which includes North Carolina):

Most popular car insurance companies in North Carolina based on market share

The following are the most popular car insurance companies in North Carolina, based on the percentage of insured North Carolina drivers who use them:

*USAA is only for active military, veterans, and their families.

Data from S&P Global Market Intelligence

Who gets the best cheap car insurance in North Carolina?

Your credit score is one of the more significant influences on the price you’ll pay for coverage. 

Another way to save is to shop around — every insurance company prices policies differently, and no two policies are the same. Prices vary greatly depending on whether you get liability, comprehensive, or collision coverage.

Consider the amount of coverage and the types of coverage listed on your quote. Remember, you’re looking for the most coverage for your money. Don’t forget to look at the deductible or the amount you’ll pay out of pocket if you get into an accident.

This content was originally published here.