Auto insurance protects you from financial loss if your car is damaged or stolen. It also covers medical and legal expenses in the event of an accident involving you, another vehicle, or a pedestrian. Auto insurance for your vehicle is required by law in North Carolina. If you choose not to buy it, the state will assign you a minimum coverage, which may mean you’ll be financially responsible for any injuries or damage caused by an accident.
Who needs auto insurance?
Auto insurance is legally required in North Carolina for all drivers who own a vehicle. North Carolina’s minimum requirements may not be enough to protect you fully; higher limits and additional coverages are almost always good ideas.
How do I buy auto insurance?
The best way to buy auto insurance is to compare and shop for rates at least once every six months. A handful of factors can impact your rate, including:
- Your age
- Your gender
- Your marital status
- Your credit history
North Carolina’s average car insurance rate is $858.43. Like many states, North Carolina has experienced increased car insurance rates over the last five years. The state has a relatively high average rate, compared to other states.
Cheapest Car Insurance in North Carolina
Progressive is ranked as the cheapest auto insurer in North Carolina, with an average annual premium of $702.00, beating out its competitors by more than $200. AARP ranks second, with average annual premiums around 23% higher than Progressive’s rate. North Carolina Farm Bureau ranks third, at about 47% above Progressive’s average quote. North Carolina Mutual ranks fourth, at an annual rate 15% lower than the state’s cheapest insurer. North Carolina Automobile Insurance Trust ranks fifth, with an average annual premium that’s 26% higher than Progressive’s quote.
Average Cost of Car Insurance in North Carolina
The average cost of car insurance in North Carolina is $858.43 per year or about $71.02 per month for full coverage on a new vehicle. Your cost could be higher if you have a poor credit history or other factors that bump up your risk.
Drivers With a DUI in North Carolina
In North Carolina, it costs about $1,078.51 to insure a car for one year with a driver who has been convicted of driving under the influence (DUI). This is more than two times the cost of insuring a car with a driver with a perfect record.
Drivers With Tickets in North Carolina
If you have been cited for certain traffic violations, your auto insurance rates may go up. In North Carolina, getting cited for one speeding ticket or other moving violation increases your annual average rate by $123.08, which is typical in the nation.
Drivers With Bad Credit in North Carolina
If you have poor credit, expect to pay more for car insurance on average than someone with excellent credit. Insurance companies view drivers with low scores as risks and often charge them higher premiums or even decline coverage completely. In North Carolina, drivers who have a poor credit history pay about $858.52 more per year, on average, for car insurance than those with excellent credit.
Seniors in North Carolina
If you’re over 65 and retired, your auto insurance rates will be lower since statistically, you’re less likely to get into an accident. Seniors in North Carolina can enjoy an average annual premium that’s $839.28 less than the typical driver.
Student Drivers in North Carolina
If your child is a new driver looking for auto insurance, you’ll probably want to investigate whether or not they are eligible for additional discounts. Most insurance companies offer special savings to young drivers who maintain a grade point average of 2.5 or above, take a safe-driving course and volunteer to be designated drivers. In North Carolina, these kinds of students can get up to 27% off their insurance premiums from an insurer like Allstate which offers the Good Student discount for drivers under 21 years old.
Motorcycle Insurance in North Carolina
If you’re looking to insure your motorcycle, Nationwide offers affordable rates in North Carolina. For instance, a basic policy costs about $262.09 per year on average in the state, and this covers up to $25,000 worth of property damage and third-party liability and $3,500 for medical and funeral benefits. The more extensive policy with the most coverage, which includes uninsured/underinsured motorist protection, is about $400.99 per year on average in North Carolina.
Car Insurance Discounts in North Carolina
The most common way to get a discount on your car insurance is by installing anti-theft devices in your vehicle. North Carolina drivers can get up to 22% off their premiums for having an approved alarm system installed in their vehicles. Another way to lower your rates, especially if you are a homeowner or have a good credit score, is by joining an auto-sharing group. By being part of the organization, you may be eligible for discounts on car rental fees, hotel bookings and more.
Military Drivers in North Carolina
If you’re a veteran of the U.S. armed forces and stationed in North Carolina, know that you can save on your car insurance premiums by having an accident-free or safe driving record when looking for new or replacement insurance with among these providers: Alfa Insurance Company, Bankers Standard Insurance Company and Fireman’s Fund Insurance Company.
Car Insurance in North Carolina
If you’re considering switching or shopping for a new car insurance policy, compare quotes from at least three providers. This way you can determine which company offers the best value for your money. For example, if you are an average driver who commutes to work every day, you can save up to $701.80 a year by getting a quote from Nationwide rather than one from Allstate.
Conclusion
We hope this guide has helped you in your quest to find the cheapest car insurance quotes or best rates for full coverage. If not, we’ve got a few more links below that might point you in the right direction! Have any questions? Let us know and we can help answer them ASAP. Good luck with finding an affordable quote online today!
