Cars and Trucks

Car Insurance in Charlotte, North Carolina: What to Know

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Finance website MoneyGeek reports that drivers pay $1110 on average for annual car insurance in Charlotte, North Carolina. While that is well below the U.S. average of $1548, it is above the average of $955 across North Carolina. Review this guide to learn more about the cost of coverage based on factors such as your credit score, marital status, and age.

Minimum North Carolina Auto Insurance Requirements

North Carolina requires drivers to carry at least $30,000 per person and $60,000 per accident in bodily injury liability coverage. If you cause an accident that harms another person, this policy will pay their medical bills. You also have to have at least $25,000 per accident for property damage liability, which covers repair and replacement costs for property damage if you cause an accident. It will also pay your legal costs if you get sued after causing an auto accident. When you get an insurance quote, it will list this type of policy as 30/60/25.

The state also requires drivers to carry uninsured and underinsured motorist (UM) coverage. This type of policy pays for your property damage and medical bills if you get hit by a driver who does not have insurance. You must have at least 30/60/25 in UM coverage matching the amounts of your liability coverage.

Auto Insurance Cost in Charlotte by Zip Code

Your Charlotte neighborhood impacts the amount you pay for auto coverage. You will pay more if you live in a zip code with a high rate of uninsured motorists, auto theft, and other types of crime. The difference in cost can be as much as $82 per year from the most expensive zip code to the cheapest zip code, according to MoneyGeek. The most affordable auto insurance zip codes in Charlotte include 28262, 28227, 28215, 28213, and 28115. You’ll pay the costliest average rates if you live in 28105, 28124, 28270, 28273, or 28277.

Auto insurance website ValuePenguin found the most affordable rates for auto insurance of $600 per year in 28269. The site got the highest rate quote of $896 per year for drivers in 28205.

Auto Insurance Cost in Charlotte by Credit Score

North Carolina auto insurance providers charge more for drivers who have poor credit compared to those who have excellent credit. According to Insurify, you can save about 43 percent on car coverage by improving your credit score from the 300 to 579 Very Poor range to the 800 to 850 Excellent range. You can reduce your rates by about $493 per year just by boosting your credit from the Poor to Fair category. These are the average annual premium rates by credit tier for Charlotte drivers:

  • Excellent: $1025
  • Very Good: $1075
  • Good: $1110
  • Fair: $1299
  • Very Poor: $1792

    Auto Insurance Cost in Charlotte by Driving Record

    Maintaining a clean driving history helps keep your auto insurance costs low. At-fault accidents, DUI arrests, and tickets for violations such as reckless driving and speeding raise your rates. According to The Zebra, annual premium rates increase by about $972 for Charlotte motorists convicted of reckless driving. Car insurance costs rise by an average of $577 after a speeding ticket and $3993 after an arrest for driving under the influence of drugs or alcohol.

    These are the average annual rates for Charlotte drivers after common driving incidents:

    • At-fault accident: $1490 to $1841, depending on the amount of damages
    • Speeding 16 to 20 miles per hour over the limit: $1686
    • Reckless driving: $2082
    • DUI: $5102

      Auto Insurance Cost in Charlotte by Age

      Drivers in their 50s and 60s pay the lowest rates for auto insurance among Charlotte residents, with an average annual premium of $1035. The Zebra lists the average cost by age for Charlotte drivers:

      • Teens: $2516
      • 20s: $1215
      • 30s: $1101
      • 40s: $1081
      • 50s: $1035
      • 60s: $1035
      • 70s: $1103

        Auto Insurance Cost in Charlotte by Gender and Marital Status

        While some cities and states show a difference in auto insurance premiums between men and women, the average of $1100 holds for both genders in Charlotte. You can save about $6 per year if you’re married compared to a single driver. These factors have a minimal impact on the amount you’ll pay for car insurance in North Carolina.

        Most Affordable Companies for Auto Insurance in Charlotte

        MoneyGeek reports that these insurers offer the lowest average annual minimum coverage rates for Charlotte drivers:

        • Allstate: $591
        • Erie: $427
        • GEICO: $466
        • Nationwide: $325
        • North Carolina Farm Bureau: $441
        • State Farm: $459
        • MetLife: $643
        • Progressive: $626
        • Travelers Insurance: $527

          If you prefer to purchase full coverage auto insurance, these are the most affordable average rates in Charlotte:

          • Allstate: $1143
          • Erie: $781
          • GEICO: $882
          • Nationwide: $647
          • North Carolina Farm Bureau: $815
          • State Farm: $799
          • MetLife: $1213
          • Progressive: $1208
          • Travelers Insurance: $965

            Best Auto Insurance Companies for Charlotte Drivers

            Insurify developed a composite score for insurance companies based on a range of industry reports and customer ratings, including Consumer Reports, Standard and Poor’s, Fitch, Moody’s, AM Best, and J.D. Power and Associates. Based on this composite score, the website recommends these Charlotte North Carolina auto insurance companies:

            • National General: composite score of 58, average cost of $145 per month
            • Travelers Insurance: composite score of 80, average cost of $168 per month
            • Safeco: composite score of 86, average cost of $171 per month
            • American Family: composite score of 89, average cost of $110 per month

              Comparing quotes from several companies can help you find affordable car insurance in Charlotte North Carolina.

              Check this out if you need additional information, resources, or guidance on car insurance.

              Sources:

              Compare the Cheapest Car Insurance Quotes in Charlotte, NC | moneygeek.com

              Cheap Auto Insurance Quotes in Charlotte, NC (2021) | insurify.com

              Charlotte, NC Car Insurance | thezebra.com

              Cheap Car Insurance Quotes: Charlotte, NC | valuepenguin.com

              Car Insurance | caranddriver.com

              What Does Full Coverage Auto Insurance Cover? | caranddriver.com

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