How Much is Car Insurance in North Carolina?

Introduction

North Carolina is home to over 10 million residents, making it the 9th most populated state in the United States. With so many drivers on the road, having car insurance in North Carolina is not only the law, but also essential to protect yourself financially in case of an accident. But with so many options, How Much is Car Insurance in North Carolina? on average? And what factors determine your exact rates?

In this comprehensive guide, we’ll break down everything you need to know about North Carolina car insurance costs, including:

• Average insurance rates in NC
• What impacts your premiums
• Minimum state requirements
• Tips for reducing your costs

Understanding these key details will help you shop for the best car insurance in North Carolina while keeping more money in your pocket.

Average Car Insurance in North Carolina Costs

The average annual cost of car insurance in North Carolina is $864, which is slightly lower than the national average of $935. However, your specific rates can vary significantly based on your location within the state, driving record, age, gender, and other factors.

Here’s a breakdown of average annual car insurance rates by age in North Carolina:

Teen drivers (age 16-19): $2,378

Young drivers (age 20-25): $1,512

Adult drivers (age 26-64): $865

Senior drivers (age 65+): $1,064

As you can see, teens pay the highest rates on average, with premiums steadily decreasing as drivers get more experience on the road. However, rates start to creep up again for seniors who tend to have increased risk of accidents.

Where you live within North Carolina also impacts your rates. Here are the average annual car insurance costs for the largest cities in the state:

Charlotte: $1,027

Raleigh: $934

Greensboro: $910

Durham: $929

Winston-Salem: $904

Fayetteville: $946

Cary: $916

Wilmington: $1,002

High Point: $892

In general, larger cities like Charlotte and Raleigh tend to have higher premiums due to more congestion and accidents. More rural areas usually have lower rates.

What Affects “How Much is Car Insurances in North Carolina?”

Car insurance companies take many factors into account when determining your premiums. Some major considerations include:

Driving History

Your driving record is one of the biggest factors impacting your rates. Getting tickets, at-fault accidents, DUIs, or other violations will raise your car insurance costs. Having a clean record can save you hundreds per year.

Type of Car

Insurers analyze safety ratings, repair costs, and theft rates when pricing coverage based on your vehicle. Sports cars, luxury brands, and SUVs tend to have much higher premiums than family sedans or economy cars.

Age and Gender

Younger drivers and males pay more for car insurance on average in North Carolina. Teen rates are often 3-4x higher than 35-55 year old drivers. And young men can pay nearly $1,000 more than women of the same age.

Location

Your zip code helps determine the level of risk. Urban areas with more traffic, pedestrians, and crime have higher premiums. Certain counties may also have higher accident rates.

Coverage Levels

The type and amount of insurance coverage you select impacts costs. Minimum liability is cheaper than full coverage including comprehensive and collision. Higher limits also raise rates.

Driving Miles

Insurers ask for your estimated annual mileage. Driving less than 10,000 miles per year can lower premiums over 15,000 miles or more.

Credit History

Better credit typically leads to lower rates. Some insurers use credit-based insurance scores in pricing. Maintaining good credit can save hundreds long-term.

Marital Status

Married drivers typically pay less than single policyholders. Having a spouse with a good driving record and credit history can lower shared policy costs.

By understanding these main rating factors, you can make choices that keep your North Carolina car insurance costs low. For example, maintaining a clean driving record, choosing a safe car model, driving fewer miles, and having good credit can all lead to significant savings on how Much is Car Insurance in North Carolina?.

Minimum “How Much is Car Insurance in North Carolina?” Requirements

All drivers in North Carolina must meet state minimum car insurance coverage amounts:

• $30,000 bodily injury liability per person
• $60,000 bodily injury liability per accident
• $25,000 property damage liability
• $30,000/$60,000 uninsured motorist bodily injury
• $25,000/$50,000 underinsured motorist bodily injury

These represent the absolute minimum limits required. Most experts recommend choosing higher 100/300/100 liability limits or better. Higher limits can prevent you from paying out-of-pocket if you cause an accident exceeding the minimums.

You’ll also want to consider adding comprehensive and collision coverage depending on your car’s value. Otherwise you’ll pay all repairs and replacement costs after an accident.

How to Reduce Your “How Much is Car Insurance in North Carolina?” Costs

Here are some top ways to lower your rates on North Carolina car insurance:

Raise your deductible: Increasing this amount you pay out-of-pocket before insurance kicks in can reduce premiums 15% or more. Just be sure you have savings to cover the deducible in case of an accident.

Compare quotes regularly: Shop around at least every 6 months to ensure you’re getting the best rate. Rates can fluctuate and competitors may offer new discounts.

Maintain good credit: Keep credit scores over 700 and check for errors on your reports that may negatively impact your insurance score.

Ask about discounts: Every insurer offers discounts like multi-policy, safe driver, good student, anti-theft devices, paperless billing, and more. Make sure you’re taking advantage of every savings opportunity.

Take a defensive driving course: Completing an approved course can earn you a discount of 5% – 15% with many insurers. They’re often available online for convenience.

Reduce mileage: Cutting back on how many miles you drive annually can potentially lower rates. Setting your commute as “pleasure use” rather than “work” use can help too.

Increase safety features: Adding anti-theft devices, rearview cameras, and other advanced safety tech can bring discounts. Also choose a car with high crash test ratings.

Shopping around and comparing quotes from both national insurers and local companies can help you find the best rate for your profile as a driver. Be sure to get customized quotes that account for all your particular factors.

Top 5 Car Insurance Companies in North Carolina

Here are the top 5 auto insurers on how Much is Car Insurance in North Carolina? based on market share:

Insurance Company	Market Share	AM Best Rating	J.D. Power Rating
State Farm	16.54%	A++	3/5
Nationwide	13.08%	A+	3/5
Geico	12.38%	A++	3/5
Progressive	7.67%	A+	3/5
Liberty Mutual	6.75%	A	2/5

The largest insurer, State Farm, has over 16% market share in the state. All of the top carriers are national companies with strong financial strength ratings from AM Best. Customer satisfaction scores based on J.D. Power ratings are about average overall.

When choosing a company, make sure to get quotes from at least 3 of these top insurers to compare rates. Also check out customer feedback and reviews online for each company. The best deal for you depends on your specific driver profile more than just the name brand.

Key Takeaways on “How Much is Car Insurance in North Carolina?”

• Shop for customized quotes frequently, comparing top insurers
• Maintain a clean driving record and good credit to lower premiums
• Choose adequate liability limits and add comprehensive/collision coverage
• Ask insurers about all available discounts you may qualify for
• Reduce your mileage, drive safely, and use driver monitoring programs to save
• Compare both state and national insurers for the best rates
• Meet at least the minimum required limits for liability and uninsured motorist coverage

Understanding these auto insurance insights can help North Carolina drivers find the right policy at the lowest cost. Be sure to reassess your coverage any time you have a major life change like buying a new car, moving, getting married, or adding teen drivers to your policy.

Comparing personalized, how Much is Car Insurance in North Carolina? quotes regularly and maintaining good driving habits are the keys to saving the most money over the long run.

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