Cheap Car Insurance Quotes: Charlotte, NC

Cheap Car Insurance Quotes: Charlotte, NC

Find Cheap Auto Insurance Quotes in Charlotte

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Geico has the cheapest car insurance rates in Charlotte, N.C., based on our analysis of quotes from seven of the largest insurers in North Carolina. Full coverage from Geico cost $939 for a one-year policy, while minimum coverage was $408.

In Charlotte, far and away the state's largest city, drivers pay notably more for insurance than the average North Carolinian. Charlotte residents pay 19% more for full coverage, where the state average is $1,506, and 33% more for minimum coverage, for which the state average is $445.

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Comparing auto insurance quotes from multiple insurers is the best way to get the most affordable rates. Different companies offer different sets of discounts and calculate rates in their own ways.

Cheapest auto insurance in Charlotte: Geico

The cheapest options for minimum liability coverage in Charlotte are Geico, NC Farm Bureau and Erie, according to our analysis. Each offered rates at least $132 less per year than the city's average rate.

Geico's annual rate of $408 was $183 less than the city average and the cheapest option available. At $34 a month for minimum coverage, it edged out NC Farm Bureau, at $36 per month, and Erie, at $38 per month.

This graph lists the cheapest car insurance rates in Charlotte.

Find Cheap Auto Insurance Quotes in Charlotte

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If you only have minimum liability coverage, you could find yourself facing a considerable financial loss if you are in an accident. Although minimum coverage satisfies legal requirements, medical costs are regularly more expensive than state minimums, and damage to a vehicle can be as well.

Rank
Company
Annual rate
1Geico$408
2NC Farm Bureau$434
3Erie$459
4State Farm$588
5Progressive$632
6Nationwide$638
7Allstate$981

Cheapest full-coverage car insurance in Charlotte: Geico

Geico delivers the best deal for full-coverage car insurance in Charlotte, with considerably cheaper offerings than second-place Erie and third-place NC Farm Bureau.

The annual rate for Geico was $939, which was $389 less than Erie. NC Farm Bureau's rate was $1,377. Geico's rate was 48% cheaper than the city average, overall.

Rank
Company
Annual rate
1Geico$939
2Erie$1,328
3NC Farm Bureau$1,377
4Progressive$1,411
5State Farm$1,557
6Nationwide$2,236
7Allstate$3,732

Full-coverage auto insurance protects your car with collision and comprehensive coverages.

  • Comprehensive coverage: covers damage caused by natural disasters, hail, theft or something other than a crash.
  • Collision coverage: covers damage, regardless of who was at fault, to a driver’s own vehicle resulting from a crash. Also covers damage from single-car accidents or collisions with objects.

Cheapest car insurance for drivers with prior incidents

Incidents such as a DUI, speeding ticket or accident raise insurance rates in almost any case, and the change is pronounced for Charlotte drivers. The increase in price is often considerable, which means searching for lower rates is especially important.

Cheapest car insurance in Charlotte after an accident: Erie

The lowest rates for drivers with an at-fault accident in Charlotte come from Erie, with an annual price of $1,395. That was cheaper than NC Farm Bureau, at $2,212, and Progressive, at $2,268.

On average, an accident in Charlotte raised rates 54%, an increase of $970. Erie had only a $67 increase annually for a driver with an accident, while no other insurer had an increase of less than $632.

Rank
Company
Annual rate
1Erie$1,395
2NC Farm Bureau$2,212
3Progressive$2,268
4State Farm$2,647
5Nationwide$2,867
6Geico$3,088
7Allstate$4,894

In North Carolina, accidents raise rates more than 53% overall.

Cheapest car insurance for drivers with a speeding ticket: NC Farm Bureau

The best car insurance rates in Charlotte for drivers with a speeding ticket were from NC Farm Bureau.The second- and third-best rates in the city came from Geico and Erie, respectively.

On average in Charlotte, a speeding ticket meant a 38% increase in insurance rates, or $685 total.

After a speeding ticket, the average annual rate for NC Farm Bureau was $1,853. Geico, at $1,870, and Erie, at $1,878, were close behind.

Rank
Company
Annual rate
1NC Farm Bureau$1,853
2Geico$1,870
3Erie$1,878
4Progressive$1,900
5State Farm$2,179
6Nationwide$2,711
7Allstate$4,982

Cheapest car insurance for drivers with a DUI: NC Farm Bureau

A DUI on your record in Charlotte will cost an extra $5,495 per year for full-coverage car insurance, an increase of 305%. NC Farm Bureau delivered the best rates in the city, an average of $5,428, which was $80 less than Erie and $130 less than Geico.

NC Farm Bureau saw a DUI cause a jump in rates of $4,051, or 294%. Allstate had a particularly large bump, with the price jumping to $16,006 per year after a DUI.

Rank
Company
Annual rate
1NC Farm Bureau$5,428
2Erie$5,508
3Geico$5,558
4Progressive$5,571
5Nationwide$6,277
6State Farm$6,697
7Allstate$16,006

Cheapest car insurance for drivers with poor credit: Geico

Poor credit may raise your insurance costs considerably, though not as much as a speeding ticket or accident. The best rates for drivers with poor credit in Charlotte are offered by Geico, with an average annual premium of $1,380.

Geico's rate is $31 less per year than Progressive. Erie came in third, at $1,417. On average, poor credit adds $322 to the average price of a policy in Charlotte.

Rank
Company
Annual rate
1Geico$1,380
2Progressive$1,411
3Erie$1,417
4NC Farm Bureau$1,588
5Nationwide$2,471
6State Farm$2,683
7Allstate$3,882

Cheapest car insurance for young drivers: Geico

Young drivers in Charlotte can save the most with Geico, which offers rates of $2,357 per year. That rate for an 18-year-old is $477 cheaper than the next-best rate.

Insurance companies consider younger drivers much riskier on the road, which raises their rates.

Erie charged the second-least, at $2,834. NC Farm Bureau was third, at $2,882. On average, younger drivers paid $3,301, $1,504 more than their 30-year-old counterparts, an increase of 84%.

Rank
Company
Annual rate
1Geico$2,357
2Erie$2,834
3NC Farm Bureau$2,882
4Progressive$2,955
5State Farm$3,034
6Nationwide$5,746
7Allstate$8,859

Options for young drivers looking to cut their insurance costs include:

  • Joining a parent's car insurance policy: this option is drastically cheaper than maintaining separate policies, but it will likely raise the price of the parent's policy.
  • Searching for discounts: offers may include discounts for good grades, avoiding accidents and safe driving, among other things. You should check with your insurer and review your options to see if you qualify.

Best auto insurance companies in Charlotte

The top companies for customer satisfaction in North Carolina were Nationwide, State Farm and Allstate, according to a survey conducted by ValuePenguin.

For more information about each insurer’s customer service rating, visit our North Carolina car insurance guide.

Average car insurance costs in Charlotte by neighborhood

Charlotte is in the middle of a metro area of more than 2.6 million residents across two states. The city itself has around one-third of that population across 37 ZIP codes.

Charlotte's cheapest ZIP code for auto insurance is 28269, an area north of downtown near Huntersville. The city's most expensive ZIP code for insurance is 28212, a spot east of the center of the city that includes the North Sharon and Idlewild Farms neighborhoods.

Rates may vary significantly, with more than $500 separating the cheapest and most expensive ZIP codes in Charlotte.

ZIP code
Average annual rate
28105$1,723
28202$1,689
28203$1,686
28204$1,686
28205$2,091
28206$2,087
28207$1,690
28208$2,078
28209$1,691
28210$1,658
28211$1,653
28212$2,092
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Auto theft statistics in Charlotte

Charlotte and parts of Mecklenburg County rank 14th among the 15 largest cities in the state in terms of cars stolen per 100,000 residents. In 2019, that was 354 cars stolen per 100,000 inhabitants.

A total of 3,340 cars were stolen in Charlotte in 2019. Apex had the lowest rates of car theft among the 15 largest cities in the state.

Rank
City
Population
Car thefts
Thefts per 100,000
1Apex56,2761628
2Cary172,5257745
3Chapel Hill61,4573659
4Concord96,13899103
5Huntersville58,51265111
6Greenville94,193114121
7Raleigh477,828748157
8Fayetteville209,614385184
9Wilmington124,750258207
10Burlington54,108141261
11Durham280,282758270
12Greensboro298,025987331
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Motor vehicle theft data was pulled from the FBI 2019 North Carolina Crime Report.

Methodology

Data came from seven of North Carolina's largest insurers. The sample driver is a 30-year-old man with a 2015 Honda Civic EX. Rates are for a full-coverage policy and average credit, unless otherwise stated.

Insurance rate data in this analysis came from Quadrant Information Services. Rates were publicly sourced from insurer filings. These rates should be used for comparative purposes only.

Source: FBI North Carolina Crime Report

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.