Deciding which company offers the best auto insurance rates for infrequent drivers may require more work in order to find coverage that fits your budget.
Every insurance company used slightly different criteria for filing rates in each state, so let’s take a look at the auto insurance companies that tend to be cheaper in North Carolina. It’s a good idea to be aware that Charlotte, NC auto insurance rates are determined by lots of factors that can increase your annual premium. Simply having a birthday, buying a different home, or getting a couple of tickets may prompt premium changes resulting in some companies being cheaper than competitors.
Best Auto Insurance Prices in North Carolina
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $643 |
| 2 | Progressive | $651 |
| 3 | NC Farm Bureau | $709 |
| 4 | GEICO | $720 |
| 5 | Liberty Mutual | $721 |
| 6 | Penn National | $747 |
| 7 | State Farm | $756 |
| 8 | Titan | $759 |
| 9 | Auto-Owners | $870 |
| 10 | Allied | $901 |
| 11 | Erie | $904 |
| 12 | National General | $908 |
| 13 | Travelers | $909 |
| 14 | Peerless | $992 |
| 15 | Unitrin | $1,012 |
| 16 | Nationwide | $1,031 |
| 17 | Safeco | $1,034 |
| 18 | MetLife | $1,038 |
| 19 | Encompass | $1,063 |
| 20 | Allstate | $1,086 |
| Quote Your Rates Go | ||
Utica National may have some of the lowest car insurance rates in Charlotte at around $643 a year. This is $229 less than the average premium paid by North Carolina drivers of $872. Progressive, NC Farm Bureau, GEICO, and Liberty Mutual would also make the list of some of the lowest-priced Charlotte, NC insurance companies.
As the example above demonstrates, if you are a policyholder with Progressive and switched to Utica National, you may realize yearly savings of about $8. Drivers with NC Farm Bureau might save as much as $66 a year, and GEICO insureds might lower prices by up to $77 a year.
It’s important to note that these premiums are averaged across all insureds and vehicles and and are not figured with a specific zip code for infrequent drivers. So the company that is best suited for you may not even be in the list above. That’s why you need to get car insurance quotes using your own driver and vehicle profiles.
The vehicle you are trying to insure is one of the main factors that determines the availability of the best cheap car insurance for infrequent drivers. Vehicles with higher performance characteristics, poor safety ratings, or high incidents of liability claims will cost more to insure than more economical and safe models. The information below illustrates auto insurance rates for a number of the most budget-friendly automobiles to buy coverage for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Chevrolet Impala LS | $1,342 |
| Ford Edge SE AWD | $1,351 |
| Ford Focus S 4-Dr Sedan | $1,342 |
| Honda CR-V EX-L 4WD | $1,349 |
| Toyota Tacoma Double Cab 4WD | $1,369 |
| Chevrolet Equinox LT 2WD | $1,375 |
| Ford F-150 Lariat Crew Cab 4WD | $1,393 |
| Honda Civic LX 4-Dr Sedan | $1,412 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,432 |
| Toyota Camry SE | $1,439 |
| Hyundai Elantra SE 4-Dr Sedan | $1,449 |
| Ford Escape XLT 4WD | $1,451 |
| Toyota Prius | $1,461 |
| GMC Sierra 2500HD SLE Extended Cab 4WD | $1,464 |
| Ford Explorer Eddie Bauer 2WD | $1,483 |
| Jeep Wrangler Sahara 4WD 2-Dr | $1,489 |
| Honda Odyssey LX | $1,551 |
| Ford F-250 XL Harley Edition 2WD | $1,561 |
| Chevrolet Silverado LS Crew Cab 2WD | $1,567 |
| Toyota Camry Hybrid | $1,561 |
| Toyota RAV4 Sport 2WD | $1,566 |
| Dodge Grand Caravan SE | $1,586 |
| Dodge Ram 2500 Mega Cab SLT 2WD | $1,632 |
| Find Cheaper Rates Go | |
Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-policy, and multi-vehicle. Rates do not factor in the specific area where the vehicle is garaged which can lower or raise rates greatly.
Based upon these rates, models like the Chevrolet Impala, Ford Edge, Ford Focus, and Honda CR-V are most likely to be some of the less-costly vehicles to insure for low mileage drivers.
Safe drivers Charlotte pay cheaper rates
The ideal way to earn the most affordable auto insurance premiums in Charlotte for low mileage drivers is to be a cautious driver and avoid traffic citations and accidents. The illustration below shows how traffic citations and fender-benders can increase auto insurance costs for different age groups. The costs are based on a married male driver, comp and collision included, $100 deductibles, and no policy discounts are applied.
The data charted above shows the average cost of a car insurance policy per year with a clean driving record and no accidents is $1,227. Get one speeding ticket and the average cost rises to $1,405, an increase of $178 each year. Then include two accidents along with the one speeding ticket and the 12-month cost of auto insurance for infrequent drivers increases to an average of $2,917. That’s an increase of $1,690, or $141 per month, just for not being more responsible behind the wheel!
Does full coverage make sense?
Reducing premiums for auto insurance is the goal of most drivers, and one of the fastest ways to lower the cost of insurance for infrequent drivers is to only pay for liability coverage. The example below shows the difference between auto insurance rates with and without full coverage. The premiums are based on no claims, a clean driving record, $100 deductibles, marital status is single, and no discounts are applied.
If averaged for all ages, full coverage on your policy costs an extra $1,952 per year more than just buying liability insurance. That is a big expense that brings up the question if buying full coverage is worth the money. There is no set rule for eliminating comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of your full coverage insurance is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let’s pretend your vehicle’s replacement cost is $9,500 and you have $1,000 policy deductibles. If your vehicle is totaled, you would only receive $8,500 after the policy deductible has been paid. If you are paying over $850 annually for comprehensive and collision coverage, then it could be time to drop full coverage.
The example below illustrates how choosing a deductible can change insurance costs when trying to find cheap insurance for infrequent drivers. The data is based on a married male driver, comprehensive and collision coverage, and no other discounts are factored in.
The chart above illustrates that a 40-year-old driver could pocket $234 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $352 by using a $1,000 deductible. Youthful drivers, like the Age 20 chart data, could shave as much as $788 every year just by choosing higher deductibles when buying full coverage. If you make the decision to raise deductibles, it is necessary to have enough savings to enable you to pay the extra out-of-pocket expense associated with higher deductibles.