Cheapest car insurance companies in Charlotte
According to a study by Insurance.com, the cheapest car insurance companies in Charlotte for 2023 are Erie Insurance and North Carolina Farm Bureau.
Erie Insurance has the cheapest car insurance rates in Charlotte at an average cost of $1,203 per year.
In Charlotte, what you pay for car insurance depends on factors such as your location, driving history, coverage level, and the insurance carrier. Take time to compare price quotes from at least three insurers to get the best coverage at an affordable rate. The table below shows the car insurance companies with cheap insurance rates.
| Companies | Average annual rates |
|---|---|
| Erie Insurance | $1,203 |
| North Carolina Farm Bureau | $1,340 |
| State Farm | $1,414 |
| Nationwide | $1,634 |
| Geico | $1,635 |
| Penn National Insurance | $2,061 |
| Farmers | $2,232 |
| Progressive | $2,232 |
| UTICA Grp | $2,259 |
| Allstate | $3,453 |
Cheapest car insurance cost in Charlotte by Age Group
The cheapest auto insurance company in Charlotte for teen drivers is Erie Insurance. For full coverage, its average annual rate for Charlotte drivers is $2,593. Insurance companies put teenagers in the category of high-risk drivers, and as a result, they are charged higher rates for insurance.
Getting lower rates isn't easy for young drivers, but they can take some steps to increase their chances of getting affordable insurance. Many insurance companies offer good student discounts to drivers who maintain a certain grade point average (GPA). Besides, teen drivers can lower premiums by staying on their parents' insurance.
Erie Insurance provides the cheapest car insurance coverage for young drivers in Charlotte, with an annual premium of $1,387 on average.
For Charlotte drivers entering their 30s, car insurance becomes significantly more affordable compared to their younger years. Erie Insurance provides the cheapest car insurance premiums, offering full coverage policies at $1,173 annually.
Erie Insurance is the cheapest option for senior drivers in Charlotte, with an average premium of $1,295 a year, significantly lower than most competitors, based on Insurance.com's in-depth data analysis.
| Company | Teens | Young Adults | Adults | Seniors |
|---|---|---|---|---|
| Erie Insurance | $2,593 | $1,387 | $1,173 | $1,295 |
| North Carolina Farm Bureau | $2,985 | $1,463 | $1,295 | $1,358 |
| State Farm | $3,388 | $2,231 | $1,481 | $1,513 |
| Nationwide | $3,818 | $2,347 | $1,628 | $1,538 |
| Penn National Insurance | $4,211 | $2,061 | $2,061 | $2,061 |
| Farmers | $4,557 | $2,232 | $2,232 | $2,232 |
| Progressive | $4,557 | $2,232 | $2,232 | $2,232 |
| Geico | $4,910 | $1,720 | $1,612 | $1,659 |
| UTICA Grp | $5,876 | $2,277 | $2,231 | $2,221 |
| Allstate | $8,730 | $4,889 | $3,398 | $3,167 |
Cheapest car insurance companies in Charlotte by driver profile
Your driving profile plays an important role in determining your car insurance rates in Charlotte. Those with past accidents, speeding tickets, or other traffic citations on their record can expect increased insurance rates compared to drivers with clean driving records.
Comparison shopping is the key to getting the cheapest car insurance rates in Charlotte. By comparing rates from multiple providers, you ensure you're getting the coverage you need at an affordable price.
Below are some of the cheapest car insurance companies in Charlotte by driver profile.
- Cheapest for a driver with poor credit: Nationwide
- Cheapest for a driver with a speeding ticket: Nationwide
- Cheapest for accident: Nationwide
- Cheapest for DUI: Nationwide
Cheapest for a driver with poor credit: Nationwide
The cheapest car insurance company for a driver with poor credit is Nationwide. It offers auto insurance for Charlotte drivers at about $1,446 per year.
Below is a list of carriers that offer car insurance at an affordable rate for drivers with poor or less-than-perfect credit scores.
| Company | Average annual rates |
|---|---|
| Nationwide | $1,446 |
| Geico | $1,477 |
| Progressive | $1,978 |
| State Farm | $3,179 |
| Allstate | $4,664 |
Cheapest for drivers with a speeding ticket: Nationwide
Based on recent data analysis, 30-year-old drivers in Charlotte with speeding tickets on their driving record can get the cheapest car insurance rates from Nationwide at an annual cost of $1,717.
Finding the right car insurance company is all about individual needs. Take the time to compare quotes from different carriers and secure the best deal. With careful analysis, you can find an insurance company that provides the best rates and coverage tailored to your specific needs.
| Company | Average annual premium |
|---|---|
| Nationwide | $1,717 |
| State Farm | $2,134 |
| Geico | $2,204 |
| Progressive | $2,974 |
| Allstate | $4,008 |
Cheapest auto insurance after an at-fault accident: Nationwide
Nationwide is the cheapest auto insurance provider for drivers with a history of accidents. Its average annual rate for a driver with an at-fault accident in Charlotte is $2,103. If you've had an accident in the past, it's important to find a provider that offers rates that are affordable and won't hurt your pocket.
| Company | Average annual rates |
|---|---|
| Nationwide | $2,103 |
| State Farm | $2,183 |
| Geico | $2,965 |
| Progressive | $3,037 |
| Allstate | $5,230 |
Cheapest auto insurance after a DUI: Nationwide
Buying car insurance doesn't have to break the bank. Nationwide offers the cheapest full coverage policy in Charlotte for drivers with a DUI, with an average annual premium of $4,417.
Following a DUI conviction, it's likely that your auto insurance premiums will increase. To get affordable premiums, compare car insurance quotes from various providers. Comparison shopping can help you find the best possible offer.
| Company | Average annual rates |
|---|---|
| Nationwide | $4,417 |
| State Farm | $5,687 |
| Geico | $7,267 |
| Progressive | $7,623 |
| Allstate | $11,091 |
Average car insurance cost in Charlotte
Full coverage car insurance in Charlotte for a coverage limit of 100/300/100 is $1,824 per year or $152 per month, while the state minimum coverage costs an average of $597 a year.
You pay more for full coverage insurance than the state minimum, but it covers damage to your car besides providing coverage for other driver's vehicle. To lower your premium, consider comparing quotes from different companies.
| Average annual Rates | State minimum average |
|---|---|
| $1,824 | $597 |
Methodology
Insurance.com commissioned 2023 data for the cheapest car insurance rates in cities from Quadrant Data Services for all 50 states and Washington D.C. Rates are based on the following profile:
- 40-year-old male driver
- Honda Accord LX
- 12-mile daily commute, 10,000 annual miles
- Good credit
- Clean record
While the rates for drivers with poor credit, speeding tickets, DUI and at-fault accidents were sourced from the Auto Problems Report 2023.
Rates are based on coverage limits of:
- $100,000 bodily injury per person
- $300,000 bodily injury per accident
- $100,000 property damage per accident
- $500 comprehensive and collision deductible
Insurance.com analyzed rates from over 34,000 ZIP codes, 56 million quotes, and 136 companies. Based on the analysis, we have created lists of the cheapest companies for different driver profiles. USAA also made it to the list, but it offers services only to current and former military members and their families. Rates sourced from Quadrant Data Services for comparison purposes only; your rates may differ.
