Cheapest car insurance companies in Charlotte 

A recent data analysis by Insurance.com found the cheapest car insurance companies are Erie Insurance and North Carolina Farm Bureau in Charlotte for 2023. 

Erie Insurance is the cheapest option for most Charlotte drivers, with an average annual rate of $1,203

Car insurance prices in Charlotte can differ based on where you live, your driving history, coverage limit, and your insurance provider. To find the best deal on auto insurance, it's wise to compare quotes from various companies. Below are the companies that offer cheap car insurance to Charlotte drivers.

CompaniesAverage 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 

In Charlotte, Erie Insurance is the cheapest car insurance company for teenagers, offering full coverage policies at $2,593 a year, on average. Teenagers often face higher car insurance rates due to statistical data indicating that they pose a greater risk on the roads. 

Teenagers can lower their insurance costs by strategically utilizing the good student discount or remaining listed as a driver on their parent's policy.

For young drivers in Charlotte, Erie Insurance has the cheapest auto insurance rates, with an average annual cost of $1,387 annually

As Charlotte drivers transition into their 30s, they can enjoy significantly lower auto insurance costs compared to their 20s. Erie Insurance stands out as the cheapest car insurance option for adult drivers, with an annual premium of $1,173

Charlotte senior drivers seeking affordable car insurance should look no further than Erie Insurance. It offers the cheapest car insurance rates for seniors, with an average annual premium of $1,295. It makes Erie Insurance a good choice for seniors who want to save money without sacrificing coverage. 

CompanyTeensYoung AdultsAdultsSeniors
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 

Insurers in Charlotte consider various factors, including driver profile, to calculate car insurance premiums. You can expect to pay significantly higher rates if you have a history of accidents or traffic citations on your driving record. On the other hand, those with a clean driving record enjoy more affordable coverage.

To find the cheapest car insurance company in Charlotte, it's important to compare auto insurance rates from multiple providers. This way, you can find the best deal that meets your needs and budget. 

Below are some of the cheapest car insurance companies in Charlotte by driver profile.

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

Drivers with poor or bad credit scores in Charlotte can consider the following car insurance companies to get the affordable car insurance coverage. 

CompanyAverage annual rates
Nationwide$1,446
Geico$1,477
Progressive$1,978
State Farm$3,179
Allstate$4,664

In Charlotte, Nationwide provides the cheapest car insurance premiums for drivers aged 30 with speeding tickets on their record at an annual cost of $1,717, on average. 

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.

CompanyAverage annual premium
Nationwide$1,717
State Farm$2,134
Geico$2,204
Progressive$2,974
Allstate$4,008

Looking for affordable car insurance rates after an at-fault accident? It can be a challenge, but with comparison shopping, you might find a policy that suits your budget.

Drivers in Charlotte with at-fault accidents on their driving records can find the cheapest car insurance rates with Nationwide. Its full coverage policy costs an average of $2,103 annually.

CompanyAverage annual rates
Nationwide$2,103
State Farm$2,183
Geico$2,965
Progressive$3,037
Allstate$5,230

Among the carriers analyzed, Nationwide offers the cheapest auto insurance premiums for drivers with a DUI in Charlotte. On average, its annual full coverage rate is $4,417, making it a significantly cheaper option than other insurance providers.

Drivers convicted of a DUI offense face substantial increases in their car insurance rates. To get affordable premiums, you should compare quotes from different insurance carriers.

CompanyAverage annual rates
Nationwide$4,417
State Farm$5,687
Geico$7,267
Progressive$7,623
Allstate$11,091

Average car insurance cost in Charlotte 

On average, Charlotte drivers pay $1,824 annually, or $152 monthly, for full coverage car insurance policies with a coverage level of 100/300/100. Conversely, the average annual cost of state minimum coverage in Charlotte is $597.

While full coverage car insurance is more expensive than the state minimum, it provides valuable protection for your own vehicle in addition to coverage for other drivers in the event of an accident. To save money, consider comparing quotes from multiple insurance companies.

Average annual RatesState 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.

Compare auto insurance rates by city in North Carolina