The words “bargain” and “auto insurance” really shouldn’t be used in the same sentence, in particular when you are shopping around for the cheapest car insurance for 16 year olds. Because it’s so expensive, let’s familiarize you with some things that influence car insurance prices, and see if you can shave a little off your next policy.
For new drivers, one of the big components that are used to help calculate auto insurance rates is your zip code. Regions with more people or even just more weather-related claims likely pay more, whereas more rural areas receive better rates.
The following table ranks the highest-priced places in North Carolina for 16 year olds to purchase a policy in. Charlotte comes in at #3 with an annual cost of $832 for the average policyholder, which is around $69 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Fayetteville | $932 |
| 2 | Jacksonville | $891 |
| 3 | Charlotte | $832 |
| 4 | Gastonia | $803 |
| 5 | Durham | $789 |
| 6 | Raleigh | $767 |
| 7 | Cary | $765 |
| 8 | Goldsboro | $765 |
| 9 | Wilmington | $765 |
| 10 | Greensboro | $763 |
| 11 | Wilson | $746 |
| 12 | Rocky Mount | $740 |
| 13 | Apex | $739 |
| 14 | Greenville | $738 |
| 15 | Huntersville | $734 |
| 16 | Indian Trail | $731 |
| 17 | High Point | $723 |
| 18 | Hickory | $711 |
| 19 | Salisbury | $705 |
| 20 | Chapel Hill | $703 |
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Premium costs are comparative as the garaging address in Charlotte can raise or lower premiums considerably.
Locating budget car insurance is not always easy, and determining which company quotes the best car insurance rates for 16 year olds calls for even more perseverance.
Every insurance provider uses their own method for determining prices, so we need to take a look at the lowest cost car insurance companies in Charlotte, NC. It’s important to know that Charlotte, NC car insurance rates are based on many factors which can substantially decrease or increase the price of your policy. Improving your credit rating, buying a home instead of renting, or getting a reckless driving citation may prompt premium changes that can cause some rates to be more affordable than others.
Compare Cheap Insurance Quotes for Teens
Progressive quotes some of the cheapest car insurance rates in Charlotte at around $651 each year. This is $221 less than the average rate paid by North Carolina drivers of $872. Utica National, Liberty Mutual, NC Farm Bureau, and Titan also qualify as some of the more affordable Charlotte, NC insurance companies.
As the example above demonstrates, if you buy coverage from NC Farm Bureau and switched to Utica National, you may realize annual savings of roughly $54. North Carolina drivers with Titan could save as much as $75 a year, and Penn National customers might lower prices by $77 a year.
To find out how much you can save, click here to get quotes or feel free to get quotes from the companies below.
Remember that these policy prices are averages across all drivers and vehicles and are not factoring in an exact vehicle garaging location for 16 year olds. So the insurer that has the cheapest rates for you may not even be in the top 20 companies in the list above. That affirms the importance of why you need to get auto insurance quotes using your own driver and vehicle profiles.
The vehicle you are buying coverage for is one of the biggest factors when comparing low-cost coverage for 16 year olds. Vehicles with lower performance, an excellent safety record, or low incidents of liability claims will cost less to insure than adrenaline junky models. The next list illustrates insurance costs for some of the most affordable automobiles to buy insurance for.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $4,701 |
| Ford Escape Limited 2WD | $4,743 |
| Hyundai Elantra SE Touring Station Wagon | $5,029 |
| Toyota Prius | $5,071 |
| Toyota Tacoma 4WD | $5,291 |
| Ford F-150 FX2 Super Cab 2WD | $5,297 |
| Ford Explorer XLT 2WD | $5,291 |
| Volkswagen Jetta SE 2.5 Station Wagon | $5,358 |
| Ford Edge Limited 2WD | $5,535 |
| Toyota RAV4 Limited 2WD | $5,577 |
| Toyota Camry LE | $5,582 |
| Chevrolet Equinox LS AWD | $5,577 |
| Nissan Altima 2.5 4-Dr Sedan | $5,585 |
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Data assumes single female driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium amounts do not factor in specific Charlotte, NC garaging location which can increase or decrease rates substantially.
Looking at the numbers, we can expect models like the Honda CR-V, Ford Escape, Hyundai Elantra, and Toyota Prius are the more affordable vehicles to insure for new drivers. Car insurance rates will be more expensive just because there is more liability exposure for 16 year olds, but in general those makes and models will probably have the cheapest car insurance rates compared to other types of vehicles.
The diagram below illustrates how your deductible choice can affect insurance costs when quoting cheap insurance for 16 year olds. The premiums are based on a married male driver, full coverage, and no policy discounts are applied.
A 50-year-old driver could lower their policy premium by $174 a year by switching from a $100 deductible up to a $500 deductible, or save $262 by selecting a $1,000 deductible. Even younger insureds, like the 20-year-old example, could shave $578 each year by choosing a higher deductible.
When increasing deductibles, it will be important to have enough savings set aside to be able to cover the extra out-of-pocket expense that comes with higher deductibles.
Insuring your vehicle with a high-quality auto insurance provider can be a challenge considering how many companies provide coverage in North Carolina. The company information in the next section may help you analyze which auto insurance companies to look at when looking for cheaper rates. The ratings below include companies with a nationwide focus, so smaller companies are not factored into these rankings.
| 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 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
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Data Source: Insure.com Best Car Insurance Companies
If you aren’t clear which coverage you need and would like to get some professional advice when shopping around for cheaper insurance for new drivers, the insurance agencies below can probably help you determine which auto insurance policy would work best for you. To find an auto insurance agency close to where you live, click the button after the list.
- Matt “Woody” Woodford – State Farm Insurance Agent
501 S Sharon Amity Rd #200 – Charlotte, NC 28211 – (704) 971-3030 - George Pettice – State Farm Insurance Agent
820 Tyvola Rd #103 – Charlotte, NC 28217 – (704) 523-1717 - Gene Haynes – State Farm Insurance Agent
8316 Medical Plaza Dr a – Charlotte, NC 28262 – (704) 549-1515 - Pegram Insurance Agency
9010 Glenwater Dr #103 – Charlotte, NC 28262 – (704) 494-9495 - Juan Rubio – State Farm Insurance Agent
9401 Statesville Rd Ste E – Charlotte, NC 28269 – (704) 509-5854
Find a Charlotte, NC insurance agent near you
How to find cheaper car insurance for 16 year olds
Lowering your rates is not difficult, and here are a few thrifty ideas that can help Charlotte drivers find low-cost auto insurance.
- Do not file small claims
- Having at-fault accidents will increase rates
- Avoid getting tickets or violations
- Pay cheaper rates with good credit scores
- Raise your deductibles
- Buy your auto and home insurance from the same company and save
- Comparison shop frequently
That last piece of advice is extremely vital, as we hit on in the prior information. Car insurance prices fluctuate considerably, so drivers shouldn’t be reluctant to buy from a different company if a more affordable price is available.
Brand loyalty is great, but it’s not recommended if that faithfulness ends up costing you a considerable chunk of change every month. It only take a few minutes to shop around to find cheaper car insurance for 16 year olds in Charlotte.