You have most likely watched the captivating commercials from companies like Allstate, Nationwide, and State Farm claiming dirt cheap rates, so you should just pick the one with the best commercial, right?
It’s not that simple, unfortunately, as there are a whole bunch of unknowns such as where you live, if you just need liability coverage, the performance level of your vehicle, and whether or not you own a home. We will touch on the types of situations that result in high rates and hopefully give you enough understanding to have a good start in finding the cheapest insurance in Charlotte.
Finding decent, affordable insurance is difficult, and finding out which company has the lowest-priced auto insurance rates for drivers over age 50 involves additional perseverance.
Every auto insurer has a proprietary formula for determining prices, so we’ll go over the most affordable auto insurance companies in Charlotte.
Best Auto Insurance Prices for Age 50+
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $639 |
| 2 | Utica National | $662 |
| 3 | Liberty Mutual | $707 |
| 4 | NC Farm Bureau | $709 |
| 5 | GEICO | $728 |
| 6 | Penn National | $747 |
| 7 | State Farm | $749 |
| 8 | Titan | $759 |
| 9 | Auto-Owners | $878 |
| 10 | National General | $890 |
| 11 | Allied | $919 |
| 12 | Erie | $922 |
| 13 | Travelers | $927 |
| 14 | Peerless | $972 |
| 15 | Nationwide | $1,001 |
| 16 | MetLife | $1,018 |
| 17 | Unitrin | $1,032 |
| 18 | Allstate | $1,064 |
| 19 | Safeco | $1,066 |
| 20 | Encompass | $1,073 |
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Progressive may offer some of the lowest car insurance rates in Charlotte at around $639 per year. This is $233 less than the average price paid by North Carolina drivers of $872. Utica National, Liberty Mutual, NC Farm Bureau, and GEICO also qualify as some of the best Charlotte, NC auto insurance companies.
As illustrated above, if you have coverage with Liberty Mutual and switched to Progressive, you might realize an annual savings of in the vicinity of $68. Drivers with NC Farm Bureau might save as much as $70 a year, and GEICO customers might lower prices by up to $89 a year.
Bear in mind that those rates are averaged for all drivers and vehicles in North Carolina and do not factor in an exact vehicle garaging location for drivers over age 50. So the company that has the cheapest rates for you may not even be in the top 20 companies in the list above. That emphasizes why you need to compare rates from multiple companies using your own specific driver and vehicle information.
The vehicle model you are buying coverage for is one of the largest factors when trying to find the best insurance for drivers over age 50. Vehicles with limited speed and performance, a plethora of safety features, or a low likelihood of liability claims will cost significantly less to insure than adrenaline junky models. The next table showcases car insurance prices for the most cost-effective automobiles to buy insurance for.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord EX 4-Dr Sedan | $1,179 |
| Honda CR-V EX-L 4WD | $1,204 |
| Ford Escape XLT 4WD | $1,211 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,275 |
| Toyota Prius | $1,302 |
| Ford Explorer Eddie Bauer 2WD | $1,319 |
| Ford F-150 XLT Super Cab 2WD | $1,329 |
| Chevrolet Equinox LS 2WD | $1,391 |
| Toyota Camry LE | $1,399 |
| Toyota RAV4 Limited 4WD | $1,391 |
| Jeep Grand Cherokee Laredo 2WD | $1,398 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $1,415 |
| Toyota Tacoma Double Cab 4WD | $1,418 |
| Chevrolet Malibu LT | $1,426 |
| Dodge Grand Caravan SXT | $1,418 |
| Dodge Ram Quad Cab ST 2WD | $1,423 |
| Honda Civic VP 4-Dr Sedan | $1,440 |
| Honda Odyssey EX-L W/Navigation | $1,465 |
| Chevrolet Impala LTZ | $1,474 |
| Hyundai Elantra SE 4-Dr Sedan | $1,465 |
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Table 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, multi-vehicle, multi-policy, and safe-driver. Rates do not factor in vehicle location which can impact premium rates considerably.
Looking at the rates, vehicles like the Honda Accord, Honda CR-V, and Ford Escape are most likely going to be some of the cheapest vehicles to insure for older drivers.
One of the many things that are used to help calculate the annual cost of car insurance is where you live. More densely populated places tend to have higher auto insurance costs, whereas areas with lower vehicle theft rates and fewer weather claims tend to receive cheaper rates.
The table below rates the most expensive cities in North Carolina for drivers over age 50 to buy car insurance in. Charlotte ranks #3 costing $808 for the average policy, which is about $67 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Fayetteville | $905 |
| 2 | Jacksonville | $873 |
| 3 | Charlotte | $808 |
| 4 | Gastonia | $803 |
| 5 | Wilmington | $788 |
| 6 | Durham | $765 |
| 7 | Greenville | $760 |
| 8 | Goldsboro | $758 |
| 9 | Greensboro | $756 |
| 10 | Cary | $749 |
| 11 | High Point | $745 |
| 12 | Raleigh | $744 |
| 13 | Rocky Mount | $740 |
| 14 | Apex | $739 |
| 15 | Huntersville | $734 |
| 16 | Hickory | $732 |
| 17 | Wilson | $732 |
| 18 | Indian Trail | $731 |
| 19 | Salisbury | $705 |
| 20 | Chapel Hill | $703 |
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Information shown are approximated as zip code location can alter auto insurance rates significantly.
Get discounts on Charlotte car insurance rates
Insurers that provide policies for drivers over age 50 may also give you premium discounts that can lower rates by as much as 25% or more if you meet the requirements. Popular auto insurance companies and their possible discounts can be found below.
- GEICO discounts include daytime running lights, five-year accident-free, anti-lock brakes, emergency military deployment, military active duty, anti-theft, and seat belt use.
- USAA offers discounts for loyalty savings, multi-policy, new vehicle, family discount, driver training, and multi-vehicle.
- Progressive may offer discounts for multi-policy, good student, multi-vehicle, homeowner, continuous coverage, and online signing.
- American Family may include discounts for early bird, air bags, good student, good driver, Steer into Savings, and bundled insurance.
- Esurance offers discounts including paid-in-full, defensive driver, renters, good driver, and safety device.
- Farmers Insurance may have discounts that include teen driver, youthful driver, business and professional, distant student, good student, and electronic funds transfer.
- State Farm offers premium reductions for multiple policy, passive restraint, multiple autos, safe vehicle, student away at school, and good driver.
The chart below shows the difference between insurance costs with and without discounts applied to the rates. The premium estimates are based on a male driver, no driving violations, no at-fault 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 lower bar shows the rates with accident-free, defensive driving course, homeowner, multiple vehicle, passive restraint, and vehicle safety discounts applied. When these discounts are applied to the policy premium, the average savings per year on auto insurance for drivers over age 50 is 30% or $419.
Safe drivers Charlotte pay cheaper rates
The ideal way to enjoy the cheapest auto insurance premiums in Charlotte for older drivers is to pay attention while driving and avoid tickets and accidents. The illustration below illustrates how speeding tickets and accident claims can drive up insurance prices for different age categories. Data assumes a single female driver, full physical damage coverage, $250 deductibles, and no discounts are applied to the premium.
The chart shows that the average cost of a car insurance policy in Charlotte per year with no accidents and a clean driving record is $1,250. Get two speeding tickets and the average cost surges to $1,675, an increase of $425 each year. Then include two accidents along with the two speeding tickets and the 12-month cost of auto insurance for drivers over age 50 increases to an average of $3,237. That’s an increase of $1,987, or $166 per month, just for not driving safely!
Charlotte car insurance rates
Charlotte auto insurance rates are determined by lots of factors which can significantly increase or decrease the price you have to pay. Simply turning a year older, getting married, or getting a ticket for careless driving can trigger price changes resulting in some companies being much cheaper than others. Also, car insurance companies modify pricing at least once a year as an adjustment for underwriting gains or losses. Unexpectedly high claims may result in higher rates, while less frequent claims can produce lower-cost Charlotte car insurance rates.
To illustrate this point, the graph below shows the cheapest car insurance in Charlotte, NC for a 35-year-old female driver with a clear driving record, no claims, and a good credit rating. When quoting prices based on her personal risk profile, Utica National might offer the most affordable car insurance rates in Charlotte at $783 each year. This is $89 less than the average premium paid by North Carolina drivers of $872. Progressive, Liberty Mutual, NC Farm Bureau, and Penn National are the remainder of the most affordable Charlotte, NC auto insurance companies.
Now we will pretend the driver from the first set of rates a couple of claims, less-than-perfect credit, and a blemish on her driving record. Since every insurance provider uses their own method to establish rates, comparing prices will most likely result in a slightly different list of the cheapest Charlotte car insurance companies as shown below.
Titan now has the best auto insurance rate in Charlotte, NC with State Farm, Auto-Owners, National General, and Progressive also being competitive. This shows why it is critical to take the time to shop around when trying to find the most economical car insurance quotes for drivers over age 50.
Car insurance prices are determined by many different factors and change frequently, so the most affordable company two years ago may now be quite expensive.