Buying economical car insurance for a Toyota Corolla in North Carolina depends on an enormous amount of factors such as how old the vehicle is, if you have recent claims, and your policy deductibles. North Carolina drivers will pay around $623 per year to insure their Corolla, but that figure is calculated based on a 40-year-old married male driver with full coverage and $500 deductibles.
But there is a high probability that you are not 40 and maybe not even a male, possibly single instead of married, and maybe your Corolla just needs liability-only coverage. Auto insurance is not the same for everyone, so the best way to find cheap insurance rates for your Toyota is to do the rate comparisons yourself. It only takes a couple of minutes and you will receive rate quotes from some of the most affordable companies in North Carolina.
Your vehicle’s trim level tends to have a direct effect on the annual cost of coverage, so the price you pay to insure a Corolla LE trim level will cost $18 less than the insurance cost for the fancier Corolla XRS version, as shown in the prices below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Corolla LE | $142 | $284 | $256 | $16 | $76 | $774 | $65 |
| Corolla S | $142 | $284 | $256 | $16 | $76 | $774 | $65 |
| Corolla XLE | $142 | $284 | $256 | $16 | $76 | $774 | $65 |
| Corolla XRS | $160 | $284 | $256 | $16 | $76 | $792 | $66 |
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Price data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Premium costs do not factor in specific Charlotte garaging location which can revise premium rates considerably.
Establishing which companies quote the lowest-priced insurance rates for a Toyota Corolla takes a little more effort in order to find the lowest price quote. Each auto insurance company has a different process to establish rates, so to begin we’ll rank the most affordable insurance companies in Charlotte, NC.
It’s important to understand that Charlotte insurance rates are impacted by many factors that control the cost of your policy. Getting older, having a claim, or getting a reckless driving citation can cause premium changes that can now make some companies much cheaper than others.
Find Cheaper Car Insurance for Your Corolla
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $643 |
| 2 | Progressive | $651 |
| 3 | Liberty Mutual | $721 |
| 4 | GEICO | $728 |
| 5 | Titan | $729 |
| 6 | NC Farm Bureau | $730 |
| 7 | Penn National | $739 |
| 8 | State Farm | $772 |
| 9 | Auto-Owners | $844 |
| 10 | Allied | $901 |
| 11 | National General | $908 |
| 12 | Erie | $922 |
| 13 | Travelers | $936 |
| 14 | Peerless | $972 |
| 15 | Nationwide | $1,001 |
| 16 | Unitrin | $1,012 |
| 17 | Encompass | $1,031 |
| 18 | MetLife | $1,038 |
| 19 | Safeco | $1,044 |
| 20 | Allstate | $1,054 |
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Utica National quotes some of the cheapest car insurance rates in Charlotte at around $643 per year. Progressive, Liberty Mutual, GEICO, and Titan also are some of the cheaper Charlotte, NC insurance companies.
In this example, if you are insured with Liberty Mutual and switched to Utica National, you may realize yearly savings of upwards of $78. Customers with GEICO may save as much as $85 a year, and Titan insureds might cut rates by $86 a year.
Be aware that those prices are averaged for all types of drivers and the different vehicles they drive and do not factor in an exact location for a Toyota Corolla. So the company that is best suited for you may not even be in the top 20 companies in the list above. That points out the importance of why you need to compare as many prices as possible using your own specific driver and vehicle information.
Discounts on Charlotte auto insurance rates
Car insurance companies that sell policies for a Toyota Corolla may additionally offer discounts that may potentially lower prices by as much as 35% or more if you meet the requirements. Larger insurance companies and some of the premium reductions they offer are included below.
- State Farm may include discounts for good student, student away at school, good driver, multiple policy, and Steer Clear safe driver discount.
- Esurance may offer discounts for Switch & Save, paid-in-full, anti-lock brakes, online shopper, and good driver.
- Progressive offers discounts for multi-policy, multi-vehicle, continuous coverage, online quote discount, online signing, and homeowner.
- Liberty Mutual includes discounts for newly retired, exclusive group savings, hybrid vehicle, new vehicle discount, and safety features.
- Auto-Owners Insurance offers premium reductions for anti-theft, safe driver, paid in full, paperless, company car, mature driver, and anti-lock brakes.
- GEICO may have discounts that include anti-theft, five-year accident-free, multi-policy, daytime running lights, military active duty, and membership and employees.
The information below shows the difference between annual premium costs with and without some available policy discounts. The costs are based on a female driver, no violations or accidents, North Carolina state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with anti-theft, defensive driving course, accident-free, vehicle safety, multiple policy, and homeowner discounts applied. When discounts are factored in, theamount saved on insurance for a Toyota Corolla is 28% or $348.
Chances are good that you’re overpaying for Corolla insurance
North Carolina insurance rates are based on many factors which can substantially decrease or increase the price of your policy. Turning one year older, moving to a different location, or having an at-fault accident may generate price changes resulting in some rates now being cheaper than before.
Not only may things change on your end, but insurers amend premium rates every year or even multiple times each year in order to protect their financial rating. Higher than usual claims can cause higher priced premiums, while a profitable period may result in cheaper Corolla insurance rates.
As an example, the data below compares the cheapest car insurance in Charlotte, NC for a 35-year-old female driver with no accidents or violations, and good credit. Based on her current situation, Utica National might offer the lowest car insurance rates in Charlotte at $774 per year. This is $98 less than the average policy premium paid by North Carolina drivers of $872. Progressive, Liberty Mutual, GEICO, and Titan are also included in the top five cheapest Charlotte, NC auto insurance companies.
In the next rate comparison, we’ll give the driver from above an accident surcharge, a lower credit rating, and a few traffic violations. Since each insurance company has their own unique process for filing rates in each state, comparing insurance quotes could now result in a completely different list of companies as shown below.
Penn National now has the cheapest car insurance in Charlotte, NC with State Farm, Auto-Owners, National General, and Progressive also being competitive. This shows why Charlotte drivers need to take the time to shop around when trying to get affordable car insurance rates for a Toyota Corolla. Rates are influenced by many different factors and can decrease or increase without notice, so the lowest-price company the last time you checked may now be one of the more expensive options.