How much is car insurance in NC? If this is a question you’re asking, you are likely looking for the best rates. Comparing and knowing what factors affect your insurance costs can help you find the best coverage for your budget.
Table of Contents
- North Carolina Auto Insurance Costs by Insurer
- North Carolina Auto Insurance Premiums by Driver Age
- North Carolina Car Insurance Premiums by Gender and Marital Status
- Average North Carolina Insurance Rates After A Violation or Accident
- North Carolina Auto Insurance Premiums by Credit Tier
- Expensive North Carolina Cities
- Cheaper North Carolina Cities
- List of Insurance Companies in North Carolina
- No-fault Insurance in North Carolina Information
- Resource Section
North Carolina Auto Insurance Costs by Insurer
Car insurance costs in North Carolina vary depending on a few factors, which include:
- Age
- Gender
- Marital status
- Credit history
- Driving history
Of course, your location also affects the amount of car insurance you can expect to pay. North Carolina insurance providers have a wide range of prices, so shopping around and comparing quotes is important.
North Carolina Auto Insurance Premiums by Driver Age
Car insurance rates in North Carolina tend to be much higher for younger, less experienced drivers. As you get older and increase your experience of driving, you can expect cheaper rates. North Carolina drivers pay the following based on age:
- 16 years: Average annual rate: $2649.93
- 17 years: Average annual rate: $2062.91
- 18 years: Average annual rate: $1816.06
- 19 years: Average annual rate: $924.79
- 20-29 years: Average annual rate: $875.07
- 30-39 years: Average annual rate: $858.96
- 40-49 years: Average annual rate: $849.97
- 50-59 years: Average annual rate: $842.29
- 60-69 years: Average annual rate: $857.75
- 70 years and older: Average annual rate: $895.77
Seniors 70 years and older will notice a slight increase in rates.
Fortunately, according to the Zebra, even if you are a teen driver, North Carolina is the second cheapest state for car insurance in the U.S. for 16-year-old drivers. Students may also be able to receive discounts for car insurance. State Farm is the cheapest insurance provider for students in North Carolina, with an average of $1258 annually. The second cheapest provider for students is Nationwide, with an average of $1464 annually.
North Carolina Car Insurance Premiums by Gender and Marital Status
Even your gender can influence your car insurance premiums in North Carolina. Gender is not weighed as heavily as other factors, but it can be used as a rating factor. On average, men in North Carolina pay $859.45 annually, compared to women who pay $863.11 annually.
Your marital status may also make a difference in rates. Married drivers pay, on average, $7 less each year than others. You may also receive discounts postnuptial of up to $76 annually. Divorced drivers in North Carolina usually receive the best rates in the country.
Average North Carolina Insurance Rates After a Violation or Accident
An accident or traffic violation on your record will also lead to higher insurance rates in North Carolina. You can expect even higher rates if you are found to be at fault for an accident. Additionally, multiple accidents or traffic violations will also lead to an increase in insurance. Drivers in North Carolina can expect an average increase of $311.77 annually following just one at-fault accident.
A DUI can also lead to significant insurance increases, with an average of $792.25 annually. With an estimated 3848 drunk driving deaths in North Carolina from 2009 to 2018, the state has increased the penalties for a DUI. Finding an affordable insurance policy with a DUI on your record can be difficult. But, the cheapest rates include Nationwide, with an average of $2240 annually, and State Farm, with an average of $2572 annually.
North Carolina Auto Insurance Premiums by Credit Tier
Your credit rating can also affect your insurance rates because it is used to predict the reliability of drivers. Drivers who have good to excellent credit ratings tend to be less likely to file a claim.
If you have an excellent credit rating and live in North Carolina, you may enjoy as much as $171.49 in savings each year in insurance, with an average premium of $834.87. Even if you have a good credit rating, you can expect an average rate of $867.17 per year. This is compared to drivers with poor credit, who have an average premium of $1006.36 annually.
Expensive North Carolina Cities
Some cities in North Carolina tend to be more expensive for car insurance. Newell, North Carolina, is the most expensive city, with rates up to 29 percent higher than the average. Other expensive cities include Charlotte, Fort Bragg, and Pope Army Airfield.
Cheaper North Carolina Cities
Some cities tend to be cheaper for car insurance. The cheapest city in North Carolina is Alexander, which is about 13 percent less than average. Other cheaper North Carolina cities include Leicester, Candler, and Weaverville.
List of Insurance Companies in North Carolina
North Carolina drivers have many options when it comes to car insurance. According to ValuePenguin, State Farm is the most used insurance provider in North Carolina, accounting for up to 14.9 percent of the market. GEICO is another top choice for drivers, accounting for 12.3 percent of the market. Both Nationwide and National General account for around 10 percent of the market.
With North Carolina being a big military state, many families in the area are looking for military rates. If you or a family member are an active military member, you will usually find the best rates with USAA or Armed Forces Insurance (AFI). Even larger insurance providers, like GEICO, offer military discounts to military members.
Other insurance providers available in North Carolina include North Carolina Farm Bureau, Allstate, Progressive, Erie, and Liberty Mutual.
No-Fault Insurance in North Carolina Information
No-fault insurance is the minimum level of coverage. Some drivers choose no-fault insurance because it tends to have the cheapest rates. No-fault insurance does not include collision or comprehensive coverage, which means it may not cover the full cost of your damages if you are in an accident. If you are looking for the cheapest no-fault insurance in North Carolina, Nationwide is an average of $301 annually.
Nationwide is also the cheapest option for 50/100/50 coverage at an average of $334 per year.
North Carolina residents have a lot of options when it comes to car insurance. Your driving record as well as your age and marital status will have an effect on your insurance rates, and comparing quotes among providers is the best way to get the best insurance rate.
Sources:
https://www.valuepenguin.com/best-cheap-car-insurance-north-carolina
https://www.caranddriver.com/car-insurance/a35291326/how-to-find-the-best-car-insurance/
https://www.caranddriver.com/car-insurance/a35433586/car-insurance-for-college-students/
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