It’s impossible to miss the commercials from companies like State Farm and Liberty Mutual promising the cheapest price, so drivers just need to select the one with the best jingle, right?
It’s just not that easy, however, as there are a whole bunch of unknown aspects like if you are married, if you want the added protection of full coverage, how safe your vehicle is, and the deductible level you need, that all impact the price you pay. The information below covers these things and should give you a good beginning to your search for cheaper coverage.
Finding out which insurers offer the best car insurance rates for low credit scores involves a bit more effort in order to find the most economical policy. Every auto insurer has their own unique process to determine rates, so let’s take a look at the overall cheapest car insurance companies in North Carolina.
Cheapest Insurance Rates in North Carolina
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $632 |
| 2 | Utica National | $636 |
| 3 | Liberty Mutual | $700 |
| 4 | NC Farm Bureau | $716 |
| 5 | GEICO | $720 |
| 6 | Titan | $737 |
| 7 | Penn National | $739 |
| 8 | State Farm | $779 |
| 9 | Auto-Owners | $878 |
| 10 | Allied | $892 |
| 11 | Erie | $895 |
| 12 | National General | $917 |
| 13 | Travelers | $936 |
| 14 | Peerless | $972 |
| 15 | Nationwide | $1,011 |
| 16 | Unitrin | $1,012 |
| 17 | MetLife | $1,049 |
| 18 | Safeco | $1,066 |
| 19 | Encompass | $1,073 |
| 20 | Allstate | $1,097 |
| Find Your Rate Go | ||
Progressive may offer some of the lowest car insurance rates in Charlotte at around $632 annually. This is $240 less than the average premium paid by North Carolina drivers of $872. Utica National, Liberty Mutual, NC Farm Bureau, and GEICO would also be considered some of the lowest-priced Charlotte, NC auto insurance companies.
As shown in the table above, if you currently have a policy with NC Farm Bureau and switched to Progressive, you might see annual savings of about $84. North Carolina drivers with GEICO could save as much as $88 a year, and Titan customers might reduce prices by as much as $105 a year.
To see if you’re overpaying, click here to begin a quote or visit any of the companies below.
Bear in mind that those premium estimates are averages across all types of drivers and the different vehicles they drive and and are not figured with a vehicle location for low credit scores. So the company that is best suited for you may not even be in the top 20 companies in the list above. That helps illustrate why you need to get rate quotes from many companies using your own personalized driver profile and vehicle information.
The type of vehicle needing coverage is a significant factor when comparison shopping for cheap auto insurance for low credit scores. Vehicles with average performance, a plethora of safety features, or a positive history of liability claims will cost substantially less to insure than higher performance models.
The table below ranks auto insurance premiums for the more affordable vehicles to buy insurance for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX-P 4-Dr Sedan | $1,179 |
| Ford Escape Limited 4WD | $1,275 |
| Ford F-150 XL Super Cab 2WD | $1,295 |
| Honda CR-V LX 4WD | $1,344 |
| Volkswagen Jetta SE 2.5 Station Wagon | $1,376 |
| Toyota RAV4 Limited 4WD | $1,391 |
| Jeep Grand Cherokee Laredo 2WD | $1,399 |
| Dodge Grand Caravan SXT | $1,418 |
| Honda Civic LX 4-Dr Sedan | $1,440 |
| Toyota Camry SE | $1,465 |
| Nissan Altima 3.5 SR 4-Dr Sedan | $1,492 |
| Chevrolet Equinox LTZ AWD | $1,501 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,494 |
| Chevrolet Silverado LT Extended Cab 2WD | $1,500 |
| Ford Explorer XLT AWD | $1,509 |
| Start a Quote Go | |
Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, multi-vehicle, and homeowner. Information does not factor in zip code location which can influence auto insurance rates considerably.
By looking at the data, you can see that vehicles like the Honda Accord, Ford Escape, Ford F-150, and Honda CR-V are a few of the most economical vehicles to insure for bad credit.
Finding a good quality car insurance provider can be challenging considering how many different insurance companies sell coverage in North Carolina. The ranking information in the next section could help you analyze which car insurance providers you want to consider comparing rates from. These rankings are only made up of companies who write in the majority of U.S. states, so companies that have a smaller presence are not factored into the list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Cautious drivers save money
The easiest way to score low car insurance prices in North Carolina for bad credit is to be a good driver and avoid tickets and accidents. The example below illustrates how speeding tickets and at-fault fender-benders can impact insurance prices for different age groups. The rates are based on a married female driver, full coverage, $250 deductibles, and no discounts are factored in.
In the previous chart, the average cost of a car insurance policy in Charlotte per year with no accidents or violations is $1,017. Add in two speeding tickets and the average cost increases to $1,441, an increase of $424 each year. Then add two accidents along with the two speeding tickets and the yearly cost of car insurance for low credit scores increases to an average of $3,004. That’s an increase of $1,986, or $166 per month, just for not maintaining a clean driving record!
Types of discounts on Charlotte auto insurance rates
Auto insurance companies that provide policies for low credit scores may also offer policy discounts that can reduce rates by as much as 35% or more if you meet specific eligibility requirements. Large car insurance companies and some of their more popular discounts are outlined below.
- State Farm discounts include multiple policy, good driver, accident-free, good student, defensive driving training, Drive Safe & Save, and driver’s education.
- Progressive may offer discounts for good student, homeowner, multi-policy, online signing, and online quote discount.
- Progressive has discounts for multi-policy, continuous coverage, good student, online signing, homeowner, and multi-vehicle.
- MetLife has savings for multi-policy, good student, accident-free, good driver, and claim-free.
- Farm Bureau policyholders can earn discounts including multi-policy, good student, renewal discount, 55 and retired, and safe driver.
- GEICO offers discounts for membership and employees, anti-theft, daytime running lights, seat belt use, and five-year accident-free.
- SAFECO offers premium reductions for safe driver, drive less, accident prevention training, multi-car, teen safe driver, and anti-theft.
The illustration below shows the difference between car insurance rates with and without discounts applied to the premium. The costs are based on a female driver, no claims or driving violations, North Carolina state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows the price with no discounts. The second shows the rates with homeowner, vehicle safety, anti-theft, marriage, safe-driver, and multiple policy discounts applied. When discounts are applied, theamount saved on car insurance for low credit scores is 28% or $462.
How to find more affordable insurance for low credit scores
Here are some of the better money-saving solutions that can help North Carolina drivers quote cheaper coverage.
- Avoid getting tickets or violations
- Save money by insuring your home and auto with the same company
- Staying accident-free helps keep rates low
- Raise your physical damage coverage deductibles
- Pay for small claims rather than turning them in to your insurance company
- Pay lower rates with good credit
- Compare quotes from other companies often
That last piece of advice is extremely crucial, as was affirmed in the article above. Car insurance prices change a lot, so don’t be unwilling to switch carriers if a cheaper rate is available. Loyalty to a specific company is fine, but it’s not a good idea if that loyalty ends up costing a considerable chunk of change every month. If you have a few minutes, now is a great time to shop around to find cheaper insurance for low credit scores in Charlotte.
The auto insurance agents in Charlotte shown below can probably help you determine which policy fits your needs best, as lots of drivers aren’t clear which coverage they need and would like to get some professional input when comparing insurance rates for low credit scores. It can be complicated to do it yourself, and insurance agents licensed in the state of North Carolina can bring satisfaction knowing your policy gives you adequate coverage if you have an accident or claim.
To find a Charlotte insurance agency using an interactive map, click the button link following the list or click here to compare price quotes now.
Allstate Insurance: Bob White
601 S Kings Dr, Ste FF – Charlotte, NC 28204 – (704) 376-3479
Sarah Highfill – State Farm Insurance Agent
7845 Colony Rd – Charlotte, NC 28226 – (704) 541-9999
Uwem Equan – State Farm Insurance Agent
5412 Central Ave b – Charlotte, NC 28212 – (704) 535-4090
State Farm: Happy Mullen
2201 South Blvd #420 – Charlotte, NC 28203 – (704) 362-0800
David Stroman – State Farm Insurance Agent
210 East Trade Street, C-340 – Charlotte, NC 28202 – (704) 332-1970