- North Carolina drivers will typically see fairly affordable car insurance premiums, but there are still some ways to save.
- Shopping around for your auto insurance coverage is the best way to save and get the best coverage for your money.
- GEICO Government Employees and USAA generally offer the best rates, but require military or government service for eligibility. Drivers who don’t qualify for those two programs can try North Carolina Farm Bureau or Nationwide for affordable coverage.
- Read more personal finance coverage.
Car insurance in North Carolina is fairly affordable. According to the Insurance Information Institute, the average driver spends about $US700 per year on premiums. That’s much less than the national average of $US935 per year.
But, North Carolina drivers have a big opportunity to save if they’re willing to shop around. Auto insurance costs can vary widely from person to person, and there are many factors that go into them.
Things like your age, gender, and your credit score can all influence your premium, or the amount you’ll pay for coverage. Each company uses a different formula to consider these factors into your price, so you’ll want to get a few different quotes to see which company offers you the best price.
That said, there are a few companies that offer excellent rates in North Carolina. Here are a few to help you start your search.
Who has the best cheap car insurance in North Carolina?
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:
Drivers with good credit (670 to 739, according to FICO), will see the best coverage from these three companies, on average:
- GEICO Government Employees car insurance: $US623 per year
- USAA car insurance: $US773 per year
- North Carolina Farm Bureau car insurance: $US864 per year
Drivers with excellent credit (or FICO scores of 800-plus) will see some of the best average rates on car insurance.
- GEICO Government Employees car insurance: $US591 per year
- USAA car insurance: $US685 per year
- North Carolina Farm Bureau car insurance: $US740 per year
Those with poor credit (scores between 300 and 579, according to FICO) will pay more for their car insurance, on average.
- GEICO Government Employees car insurance: $US842 per year
- USAA car insurance: $US1,233 per year
- Nationwide Mutual car insurance: $US1,274 per year
Who gets the best cheap car insurance in North Carolina?
As the data above shows, your credit score is one of the bigger influences on the price you’ll pay for coverage. But, there are many other factors that play into your premium, too. With every company considering them differently, it’s critical to shop around.
If you want to get the best rate for you, you’ll need to start by getting quotes from several different insurance companies. Once you have a few different quotes, you’ll want to compare them and look for the policy that gives you the most coverage for your money by giving the most coverage types and the highest limits. Also look at the deductible, or the amount you’ll pay out-of-pocket if you get into an accident.
The driver who gets the best deal in North Carolina is the one who shops around for their coverage. Compare quotes and look beyond the premium to find the best-priced coverage for you.
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