Cheap Car Insurance

Cheaper Rates Today in NC

Car Insurance in North Carolina

  • Compare cheap car insurance quotes in NC.
  • Get the cheapest car insurance from top companies like Allstate, Progressive, and more!
  • Save hundreds a year on your North Carolina car insurance.

Cheap Car Insurance

Cheaper Rates Today in NC

Car Insurance in North Carolina

  • Compare cheap car insurance quotes in NC.
  • Get the cheapest car insurance from top companies like Allstate, Progressive, and more!
  • Save hundreds a year on your North Carolina car insurance.

Cheap Car Insurance Companies In North Carolina

The average semiannual cost of car insurance in the state of North Carolina is $641.20. An insured premiums are influenced by more variables than purely their place of residence. Car insurance underwriters calculate auto insurance rates after assessing a range of criteria such as the policyholder’s age, driving record, marital status, and credit rating. We examined typical car insurance costs in North Carolina across each of the predominant rating factors. We aim to provide consumers insight to identify a car insurance policy that meets their needs and budget.

CompanySemi Annual Permium
State Farm$458.50

*Data Methodology – Updated 3/1/2024

The North Carolina car insurance rates are based on a 35-year-old male with the most popular car (Honda Accord) living in NC. The Quote is for full coverage with comprehensive at $500 deductible and collision at $500 deductible.

North Carolina Minimum Liability Coverage

North Carolina state law requires all drivers to carry minimum car insurance coverage. These minimum requirements include:

Bodily Injury Liability – $30,000 per person and $60,000 per accident. This coverage pays for injuries and lost wages that you cause to other people as a result of an accident.

Property Damage Liability – $25,000. This coverage pays for damage that you cause to another person’s vehicle or property in an accident.

Personal Injury Protection (PIP) – $2,500. This no-fault coverage pays for some of your and your passengers’ medical bills after an accident, regardless of fault.

Uninsured/Underinsured Motorist (UM/UIM) – $30,000 per person and $60,000 per accident. This coverage pays for injuries to you and your passengers if you are in an accident caused by a driver who does not have insurance or who does not have enough coverage.

Penalties for Driving Without Insurance in North Carolina

Penalties for Driving Without Insurance in North Carolina are severe. The state of North Carolina requires all drivers to carry liability insurance to protect themselves and others in the event of an accident. Not having insurance is considered a misdemeanor in North Carolina and can result in both financial penalties and driver’s license consequences.

If you are caught driving without insurance in North Carolina, you will likely face the following penalties:

  • A fine of up to $500 for the first offense and up to $1,000 for subsequent offenses. The average fine is around $200 to $300.
  • Your driver’s license may be revoked for up to one year for the first offense and three years for subsequent offenses.
  • You may be required to complete a driver safety course before your license can be reinstated.
  • You may face vehicle registration consequences, including having your vehicle registration suspended or revoked. You may not be able to register your vehicle again until you show proof of insurance.
  • You may be required to purchase high-risk or assigned-risk insurance through the North Carolina Automobile Insurance Plan. This type of insurance is more expensive.
  • You may face increased insurance rates in the future from insurance companies due to being cited for driving without insurance. This can significantly raise your premiums for several years.

Auto Insurance Rates in North Carolina

Auto insurance rates in North Carolina are determined based on several factors. While many factors influence your rates, the most significant ones include your driving history, credit score, vehicle type, age, and location.

Your driving history, including any speeding tickets, accidents, and violations, is one of the primary factors insurance companies consider. Having a clean driving record with no violations for several years will typically qualify you for lower rates. Your credit score also impacts your insurance costs. Insurers view a good credit score as an indicator of responsible financial behavior and lower risk, so they often offer discounts for higher scores.

The type of vehicle you drive also affects your premium. Sports cars and luxury vehicles tend to have higher insurance rates due to the higher costs of repairs and replacement parts. The age of your vehicle is another factor, as older cars typically cost less to insure. Your location and where you park also impact rates. Rural areas tend to have lower insurance costs than more densely populated urban areas due to lower claims frequency.

Low Cost Car Insurance Programs and Discounts in North Carolina

Many drivers in North Carolina are looking for ways to lower the cost of their car insurance. There are several options available to help make premiums more affordable.

State-sponsored programs offer some of the lowest rates. The North Carolina Auto Insurance Plan provides coverage for high-risk drivers who have difficulty finding coverage on the standard market. Premiums are based on driving record and vehicle type. Eligibility requirements apply.

The North Carolina Reinsurance Facility provides coverage for drivers who have been declined insurance by at least two insurers. Premiums are higher than standard policies but still competitive. Eligible drivers must apply directly with the Facility.

Many insurance companies offer discounts for things like good grades, multiple policies, low annual mileage, and safety features. North Carolina also requires insurers to offer discounts for taking defensive driving courses, installing anti-theft devices, and bundling auto and homeowners policies. Ask your insurer about all available discounts to determine your eligibility.

Some companies specialize in lower cost insurance policies for young drivers, drivers with DUIs on their record, and high-risk drivers. Compare rates from multiple companies to find the best rates. Also consider raising your deductible, which can lower premium costs by spreading claims over more payments.

Following all traffic laws, avoiding tickets and accidents, and maintaining a clean driving record for several years in a row can also help lower insurance costs over time as your risk level decreases in the eyes of insurers.

North Carolina Car Insurance Statistics

North Carolina has a number of important statistics regarding car insurance. For starters, North Carolina has average car insurance rates that are below the national average. In 2020, the average annual expenditure for car insurance in North Carolina was $854, which was about 7% lower than the national average of $918.

The state has a number of factors that contribute to these below-average rates. First, North Carolina has a low rate of uninsured motorists at around 10%. When more drivers carry insurance, it helps bring down costs for everyone. Second, North Carolina has a relatively low rate of car thefts. In 2019, there were 12,600 car thefts reported in the state, amounting to just 129 thefts per 100,000 people. This is below the national rate of 245 thefts per 100,000 people.

While North Carolina has below-average car insurance rates overall, there is some variation within the state. Drivers in urban areas like Charlotte and the Triangle region tend to see higher rates due to factors like more traffic, higher accident rates, and higher crime rates. On the other hand, drivers in more rural areas of the state typically see lower rates. Age is also a factor, as younger drivers below the age of 25 usually pay higher premiums due to their higher risk of accidents and claims.

Overall, North Carolina drivers benefit from a number of positive factors that help keep car insurance costs below the national average. However, rates will still vary based on location, driving record, coverage levels, and other individual factors.

The 10 Largest North Carolina Car Insurance Companies

North Carolina drivers have many options when choosing a car insurance provider. The following are the ten largest auto insurance companies in the state based on market share and premium volume.

  1. State Farm – State Farm has the largest market share of any auto insurance provider in North Carolina at 18.4%. State Farm is known for offering competitive rates and a wide range of coverage options.
  2. Allstate – Allstate has the second largest market share in North Carolina at 10.9%. Allstate offers discounts for safe driving, bundling policies, and more.
  3. GEICO – GEICO has a 9.8% market share in North Carolina. GEICO is known for its low rates, 24/7 service, and fast claims processing.
  4. Progressive – Progressive has an 8.1% market share in the state. Progressive offers many usage-based insurance programs to help lower premiums.
  5. Farmers – With a 6.7% market share, Farmers is one of the largest auto insurance providers in North Carolina. Farmers is known for personalized coverage options and 24/7 claims service.
  6. Nationwide – Nationwide has a 5.9% market share in North Carolina. Nationwide is known for offering a variety of discounts and 24/7 claims assistance.
  7. USAA – USAA, which primarily serves military members and their families, has a 4.4% market share in the state. USAA typically offers some of the lowest rates in the industry.
  8. Liberty Mutual – Liberty Mutual has a 3.9% market share in North Carolina. Liberty Mutual is known for offering many discounts and usage-based insurance programs.
  9. Travelers – Travelers has a 2.7% market share in the state. Travelers is known for offering specialized coverage options and superior claims service.
  10. MetLife – MetLife, with a 2.6% market share, rounds out the top 10 largest auto insurers in North Carolina. MetLife is known for offering flexible coverage options and multi-policy discounts.