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Compare the cheapest car insurance rates in North Carolina and save up to 50% off your policy premiums each year. By shopping and viewing the best quotes, almost instantly, we show you the companies that offer the lowest prices and the best deals in your area. NC auto insurance is more affordable than you realize, regardless if you are a preferred or high-risk driver. Discounted full coverage and "liability only" options are available.
What Are The Least Expensive Available Coverages?
All NC drivers are required to have a minimum of $30,000 bodily injury per person, $60,000 per occurrence and an extra $25,000 for property damage. Since there are still many uninsured vehicles on the road, uninsured motorist (um) coverage for $30,000/$60,000 is also a requirement. Increasing these limits is always recommended, especially for homeowners that are more susceptible to a lawsuit.
Currently, medical payments coverage is optional. Although underinsured motorist coverage is not required as a minimum required limit, with any subsequent increases in your um limits, underinsured protection must then be bundled. The latter coverage is important if your vehicle is struck by another driver that has state-required coverage, but the limits are not enough to cover all damages and medical bills.
The next level of $50,000/ $100,000/$50,000 provides much more suitable limits without much change to your premium. For individuals and families that have a combination of youthful drivers, rental property, boats and/or off/road vehicles (such as mopeds), adding a separate liability umbrella may be financially prudent and certainly would help protect your assets. However, you may required by the underwriting company to further increase your limits of liability.
If your vehicle is financed by a bank or other lending institution (or leased), typically you must also have collision and comprehensive benefits (which cover damage to the vehicle). $500 deductibles are sometimes allowed, although if you are leasing, a lower amount may be required. Although deductibles of $100 and $250 (collision) are available, they tend to be the least cost-effective choice. Most Tar Heel state residents change their deductibles at least once every 10 years.
Once the vehicle title is in your name (and not the bank), you can remove collision and comprehensive coverages, although an at-fault accident will result in paying for all damages. Generally, if the car (or truck) is worth more than $5,000, full coverage should remain. Another option is keeping comprehensive (fire, theft, glass breakage, and vandalism) only. Since comprehensive coverage costs less than collision coverage, and deductibles are often less, it's not unusual to see vehicles 10-20 years old with this option.
Who Are The Cheapest Car Insurance Companies In North Carolina?
There are many variables that impact the rate (county you reside, types of vehicles, number of tickets and accidents etc...). However, typically, the following five companies often offer very affordable pricing compared to most other carriers in that area:
Nationwide
Liberty Mutual
Geico
Progressive
Esurance
Of course, there are many other reputable companies that also must be considered. Some of the larger carriers are Allstate, Integon, Peak Property and Casualty, USAA, Farm Bureau, Unitrin, and State Farm. Some of the smaller companies we also monitor include Cincinnati, Amica, Hartford, Metropolitan, Grange, and Central Mutual. NOTE: The report is available, but it is 164 pages!
Don't forget that specific cities are often much less costly than others. For example, five cities with the cheapest prices in the entire country, are actually here in our state! They are Greensboro, Durham, Charlotte, Fayetteville and Winston-Salem. Other cities with very low prices include Lexington, King, and Asheville. The entire NC state mean average was also more than 20% less than the rest of the US.
How Do I Get My Free Quote?
We Save You Money On Your NC Car Insurance Rates
Once you have entered your zip code (where requested) at the top of the page, we will instantly calculate local average premiums in your area (county and zip code) and show you the companies that offer the lowest prices. You can choose a few (or all) of or recommendations and view rates. You are never under any obligation to buy a policy or cancel existing coverage. Of course there are no fees or long forms to fill out. Your free quotes can usually be emailed and you're not required to speak to a live person.
NOTE: High-risk drivers (SR-22 Bonds, license suspensions, multiple tickets/accidents) will be presented with a different selection of companies that tend to specialize in the non-standard market. The resulting savings is often as much as $1,000-$2,000 per year. As violations eventually drop off the MVR report, different carriers will be included in the quoting process.
Does The NC Department Of Insurance Really Set Maximum Rates?
Yes, they do! Annually, the maximum price that companies can charge is set in advance. Most consumers are not aware of this practice. However, insurers can charge less than the maximum allowed amount, and often they do, if paid claims are lower than anticipated. To help protect pricing, a $20 surcharge is collected with each policy (yearly) to pay for many of the state's substandard drivers.
What If I Have A Suspended License Or Am A High-Risk Driver?
You can still get coverage that satisfies the state minimum liability requirements. An SR-22 Bond may be required, but they are easy to apply for. Approval is typically the same day so you are quickly back on the road. Once you have met the requirements of the bond, you can apply for conventional coverage, which will be much cheaper.
If getting too many tickets or being involved in too many accidents has caused your rates to surge, there may be ways to reduce your costs by as much as 20%-50%. Of course, increasing deductibles or lowering liability limits will potentially save hundreds of dollars per year. However, you are increasing your risk, and often, by driving slower and waiting for the price to naturally fall, much of that risk is eliminated.
However, we specialize in finding the companies that feature the lowest high-risk prices. These companies will reduce or roll back rates quickly after tickets either fall off your record or become more than 12 months old. If accidents are not your fault, they are not counted against you. And if you have above-average credit (or better), you are rewarded.
What Is The Safe Driver Incentive Plan (SDIP) And How Does IT Save Me Money?
The NC General Assembly created this program in the late 1950s that rewards drivers that maintain a clean driving record by avoiding tickets and at-fault accidents. "Booze It And Lose It" is another traffic enforcement program that is also designed to keep roadways safe.
SDIP has a point system, based on the type of ticket you receive. One point will result in a 30% increase in rates, five points will increase premiums by 100% and 10 points will result in a whopping 260% increase. Listed below are some common convictions and their corresponding points.
1 -- Most moving violations.
2 -- Illegal passing, driving on wrong side of road, following too closely.
3 -- At-fault accident resulting in death or bodily injury higher than $1,800.
4 -- Reckless driving, passing a stopped school bus, driving 80 mph in a 70 mph zone, and a hit and run with just property damage.
8 -- Driving with a suspended license.
10 -- Highway racing, driving with a suspended license, and speeding to elude arrest.
12 -- Manslaughter, negligent homicide, DUI, hit and run resulting in death, transporting illegal liquor for sale, and driving while impaired.
NOTE: Some violations do not accumulate points. The most common situations are: Failure to show registration, not having a driver's license available, improper display of license plate, non-working lights, and violation of a local ordinance.
I Live In Charlotte But Work In Durham. Does That Make A Difference?
NC Auto insurance prices are calculated by zip code. Thus, regardless where you work, it's always your residence that is used. However, if you drive long distances daily (to work or for business purposes), your vehicle may be classified in an unconventional way. If that occurs, we'll match your situation with the companies that offer the most lenient underwriting guidelines for business-related travel and driving.
Also, areas with higher incidences of crime and/or vandalism will always tend to have the least competitive rates. For example, the North Carolina cities with the highest number of vehicle thefts (per capita) are Fayetteville, Conway, Chapel Hill, Durham, and Greensboro. In fairness, many other factors are considered when determining prices.
What Is Senate Bill 180?
Originally filed in March of 2013, this legislation was designed to allow state auto insurance companies to offer specific discounts that could potentially lower premiums. In June, it was assigned to the Commerce and Job Development subcommittee for review. A compromise amendment was later submitted and eventually the Senate unanimously passed the legislation. The House blocked the bill that would ultimately allow carriers to offer a broader range of policies that could make it easier to find the most cost-effective policy.
Currently, the NC Rate Bureau requests rate increase that can be ultimately approved by the . The original bill capped increases at 12%. One of the main issues is whether national data (instead of local data) can be used to determine price increases. The Charlotte Observer, along with many other newspapers, seems to support passage.
What Is Fair NC?
Fair NC is a group of auto insurers (State Farm, Geico, Progressive and several additional carriers) that are attempting to create an alternative to the existing method of requesting permission to adjust consumer rates for their coverage. Even though NC rates are among the 10 lowest in the US, Fair NC feels changes are needed.
Their new proposal gives companies the option of continuing to do business under the existing rules and guidelines, or offer a more individualized rating system that offers discounts and accident-forgiveness to preferred drivers. These types of reductions are not offered under the existing system. Also, it is expected that a new type of underwriting may result in smaller increases when an at-fault accident occurs.
How Much Money Will I Save By Using This Website?
You might save $200, $2,000 or $20. The results depend on how competitive your current pricing compares to the best offers available on the Marketplace. If your household driving record is fairly solid, and your rates have been steadily increasing, there's a good chance we will find some very attractive offers for you. In fairness, there is also a chance that we will recommend that you continue with your current company without making any changes. In some situations, you may already be getting the best possible deal.
If you're a young driver, you may especially benefit. We realize that finding the is not easy or fun! And if you have a ticket or accident, it can be very costly. But typically, we can quickly provide an easy comparison of multiple companies that offer low prices to high school and college students. The savings can be substantial.
What Are the Costs And Fees For Using Your Research And Comparison Tools?
None. That's right...there are no fees or costs. The unbiased information and knowledge you receive from our website is designed to help you save money and obtain the best available coverage. We update content daily so you always are one step ahead of any potential price increases or decreases. And by utilizing a simple zip-code rating system, we can follow changing trends that can potentially save thousands of dollars of premiums. Additional Information:
Our beloved state of North Carolina has made a "Top-10" list, although not the type of recognition we like to see. The seventh ranking in a recent "Worst Driver" list is the result of fatality rates, DUIs, speeding tickets and other violations. Louisiana and South Carolina, by the way, head the list.
In a recent national study, NC ranked at the top of the list for average rate increases following a moving violation or at-fault accident. If additional activity was already present on the MVR, the prices could rise further.
A new tax on North Carolina auto insurance policies will be delayed, at least for now. House Bill 927 would reduce the cost of gasoline by six cents per gallon. But, a 6% tax on car insurance premiums and a substantial hike in DMV fees would offset the gas savings. However, the legislation, if passed will remove the insurance hike. Wayne Goodwin (Commissioner of Insurance) does not approve of the increase and seemed to be able to convince Rep. John Torbett that the proposed tax was not a good idea. However, Torbett indicated that a smaller increase still might become part of the bill.
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