Figuring out which companies offer the most affordable insurance rates for real estate agents calls for a little more sweat in order to find the best price. Each insurance company uses a different method for establishing rates, so we will examine the overall cheapest insurance companies in Charlotte, NC.
It’s important that readers know that Charlotte insurance rates are determined by lots of factors which can substantially decrease or increase your annual premium. Simply getting older, moving across town, or getting a DUI can produce rate changes that can now make some companies cheaper than others.
Best Car Insurance Prices for Realtors
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $655 |
| 2 | Progressive | $658 |
| 3 | Liberty Mutual | $700 |
| 4 | NC Farm Bureau | $709 |
| 5 | Penn National | $725 |
| 6 | GEICO | $728 |
| 7 | State Farm | $749 |
| 8 | Titan | $751 |
| 9 | Auto-Owners | $870 |
| 10 | Erie | $895 |
| 11 | National General | $908 |
| 12 | Allied | $919 |
| 13 | Travelers | $927 |
| 14 | Peerless | $962 |
| 15 | MetLife | $1,018 |
| 16 | Nationwide | $1,031 |
| 17 | Unitrin | $1,042 |
| 18 | Encompass | $1,063 |
| 19 | Safeco | $1,076 |
| 20 | Allstate | $1,097 |
| View More Rates Go | ||
Utica National has some of the lowest car insurance rates in Charlotte at around $655 per year. This is $217 less than the average price paid by North Carolina drivers of $872. Progressive, Liberty Mutual, NC Farm Bureau, and Penn National also qualify as some of the best Charlotte, NC insurance companies.
As illustrated above, if you currently buy coverage from NC Farm Bureau and switched to Utica National, you could see an annual premium reduction of roughly $54. Policyholders with Penn National may save as much as $70 a year, and GEICO customers might cut rates by $73 a year.
To see how much you can save, click here to get a free quote or visit any of the low-priced companies below.
Be aware that those premiums are averaged across all types of insureds and vehicles and do not factor in an exact location for real estate agents. So the insurer that fits your age and vehicle best may not even be in the top 20 companies shown above. That points out the importance of why you need to quote rates from many companies using your own driver information and specific vehicle type.
One of the many things that are looked at to determine auto insurance rates is where you keep your car. Areas with a lot of weather claims or more people will most likely have higher rates, whereas areas with less congestion have the luxury of lower rates.
The information below rates the highest-priced places in North Carolina for real estate agents in which to purchase auto insurance. Charlotte makes the list at #3 with an annual rate of $832 for the average insurance policy, which is around $69 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Fayetteville | $923 |
| 2 | Jacksonville | $873 |
| 3 | Charlotte | $832 |
| 4 | Durham | $797 |
| 5 | Wilmington | $788 |
| 6 | Gastonia | $787 |
| 7 | Goldsboro | $765 |
| 8 | Raleigh | $760 |
| 9 | Huntersville | $756 |
| 10 | Greensboro | $756 |
| 11 | Wilson | $754 |
| 12 | Rocky Mount | $748 |
| 13 | Indian Trail | $745 |
| 14 | Cary | $742 |
| 15 | Hickory | $740 |
| 16 | Greenville | $730 |
| 17 | High Point | $723 |
| 18 | Apex | $717 |
| 19 | Salisbury | $705 |
| 20 | Burlington | $699 |
| Start a Quote Go | ||
Table data uses approximated as vehicle location can revise price quotes noticeably.
Should you buy full coverage?
Paying a lower price for insurance should be important to most vehicle owners, and an easy way to buy cheaper insurance for real estate agents is to not buy comprehensive and collision coverage. The chart below illustrates the difference between insurance rates with and without full coverage. The information is based on no claims or violations, $250 deductibles, marital status is single, and no additional discounts are factored in.
If we average the cost for ages 20 through 70, physical damage coverage on your policy costs an extra $1,316 per year more than insuring for liability only. At some point, almost every driver questions if paying for full coverage is a waste of money. There is no clear-cut formula to drop physical damage coverage on your policy, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.
There are some situations where eliminating full coverage is not financially feasible. If you haven’t paid off your loan, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should keep full coverage.
Discount Charlotte car insurance
Insurance companies that offer quotes for real estate agents may also offer premium discounts that could potentially reduce rates by 25% or more if you meet specific criteria. Popular insurance companies and the discounts they provide are:
- Progressive offers discounts for multi-policy, continuous coverage, good student, online quote discount, multi-vehicle, and online signing.
- SAFECO offers discounts including multi-car, teen safety rewards, anti-lock brakes, teen safe driver, and anti-theft.
- American Family includes discounts for good student, air bags, good driver, accident-free, mySafetyValet, bundled insurance, and defensive driver.
- MetLife policyholders can earn discounts including good student, good driver, accident-free, claim-free, defensive driver, and multi-policy.
- GEICO has discounts for emergency military deployment, federal employee, driver training, military active duty, seat belt use, anti-lock brakes, and membership and employees.
- The Hartford discounts include bundle, driver training, good student, defensive driver, air bag, anti-theft, and vehicle fuel type.
The information below visualizes the comparison of insurance costs with and without discounts applied to the rates. The rate quotes are based on a male driver, no tickets, no at-fault accidents, North Carolina state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with defensive driving course, accident-free, homeowner, vehicle safety, claim-free, and safe-driver discounts applied. When drivers qualify for the discounts, the average amount saved each year on insurance for real estate agents is 27% or $437.
Why you should be comparing rates
Charlotte, NC insurance rates are impacted by many factors which can significantly increase or decrease your annual premium. Simply having another birthday, buying a different vehicle, or getting caught speeding may generate price changes that can make some companies affordable when they were higher priced.
Not only may your risk profile change, but car insurance companies change their prices at least once a year to ensure their profitability. A period of higher than normal claims can cause additional premium costs, while profitable underwriting can result in cheaper Charlotte car insurance rates.
For example, the bar chart below shows the cheapest car insurance in Charlotte, NC for a 40-year-old female driver with no prior accidents, a clean driving record, and great credit. If we estimate prices based on her current risk profile, Progressive may have the lowest car insurance rates in Charlotte at $804 annually. This is $68 less than the average policy premium paid by North Carolina drivers of $872. Utica National, Liberty Mutual, Titan, and NC Farm Bureau are also on the list of the cheapest Charlotte, NC auto insurance companies.
In this next rate comparison, we will give the driver from the first rate comparison a chargeable accident, a lower credit rating, and a blemish on her driving record. Since every insurance provider uses a different method for determining rates in each state, analyzing rates could now result in a completely different list of the cheapest Charlotte car insurance companies as shown below.
GEICO now has the best car insurance rate in Charlotte with State Farm, Auto-Owners, Utica National, and National General also having competitive pricing. This example demonstrates why it is critical to perform a complete rate comparison when trying to find the most budget-friendly auto insurance quotes for real estate agents. Auto insurance prices are impacted by many things and can increase or decrease at any time, so the cheapest rate the last time you checked may now be an over-priced policy.